ICETANA LIMITED — Capital/Financing Update 2021

Feb 7, 2021

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8 February 2021

icetana secures order for Middle East shopping mall implementation through reseller NIT

Highlights:

• icetana receives a purchase order for its motion intelligence platform for a large shopping mall site in the Middle East valued at US$138,000 over the first 12 months of service.

• The order represents a further expansion of icetana’s strong presence in the Middle East surveillance market adding to over 7,000 shopping mall surveillance cameras currently utilising icetana in this territory.

• The end-user operates several high-end shopping malls providing an opportunity for potential further growth.

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icetana Limited (ASX:ICE “icetana” or “the Company”) is pleased to announce that it has received a purchase order to supply icetana’s motion intelligence video analytics solution to a Middle Eastern shopping mall through technology reseller Network Information Technology (“NIT”).

The order has a value of US$138,000 (circa A$180,000) inclusive of 12 months of support and maintenance. This deployment represents less than 20% of the total camera footprint of the Middle Eastern end-user’s retail mall sites, providing considerable opportunity for potential growth.

This new end-user contract builds on the substantial presence that icetana has in shopping malls in the Middle East. icetana’s largest site globally remains Dubai’s Mall of the Emirates which operates over 2,000 surveillance cameras. With the receipt of this new contract, icetana will be present in seven different Middle Eastern countries, further solidifying the company’s position in this important geography.

Implementation will be undertaken by icetana technicians based in our Dubai office working closely with the end-user. Hardware supply is excluded in the arrangement with the contract focused on software delivery and services only.

The contract is priced on an enterprise basis offering the potential (subject to contract) for future annual recurring revenue through support and maintenance arrangements typically in the range of 10%-15% of the initial contract value.

icetana Limited | Level 4, 45 St Georges Terrace, Perth WA 6000 PO Box 5668, Perth WA 6831 Phone: +61 8 6282 2811 | www.icetana.com

ABN: 90 140 449 725

Chief Executive Officer Matt Macfarlane commented:

“Some of icetana’s most impressive reference sites are in the Middle East market. icetana’s motion intelligence software consistently presents a strong return on investment for active security operations rooms. We are seeing increased activity in as organisations become more confident about the global response to the challenges of COVID.”

Material terms of commercial arrangements:

• The contractual arrangement disclosed in this announcement is between icetana and NIT, rather than the end user.

• The end-user is subject to the End User Licence Agreement as published on the icetana website;

• Payment terms with NIT are 30 days with 50% due after hardware delivery, and 50% upon software deployment. NIT's payment obligations to icetana are not conditional on payment by the end user

• The order includes a 12 month term of software support and maintenance. Ongoing support and maintenance after the initial 12 months will be subject to a software maintenance agreement. It is therefore possible that no material revenue over and above the initial order value materialises from NIT pursuant to this commercial arrangement going forward.

– ENDS –

Authorised for release by the Board of icetana Limited.

For further information contact:

icetana Limited

Matt Macfarlane CEO and Managing Director +61 400 605 960 matt@icetana.com

About icetana

icetana Limited is a global software company providing video analytics solutions designed to automatically identify anomalous actions in real-time for large scale surveillance networks. Our software integrates with customers’ existing video management systems and IP cameras.

Using artificial intelligence and machine learning techniques, the icetana motion intelligence solution learns and filters out routine motion, showing only anomalous or unusual behaviour allowing operators to focus on events that matter and respond in realtime to both precursor activities and incidents. icetana has a broad range of use cases across a growing number of industry verticals. It has been implemented at over 35 sites on four continents, helping clients harness the rich data streams from their existing security networks and turning that data into improved situational awareness and deeper operational insights.