ICETANA LIMITED — Investor Presentation 2020

Feb 10, 2020

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Investor Presentation

AI and machine learning video analytics company with a scalable SaaS focused revenue model

11 February 2020

ASX: ICE

Regulatory and Legal

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iCetana Limited ACN 140 449 725 (the Company ) is the issuer of this presentation.

Forward-looking statements

This presentation contains forward-looking statements. Those forward-looking statements reflect views held only as at the date of this presentation. Any such statement is subject to inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement, and such deviations are both normal and to be expected. Recipients must make their own assessment about the likelihood of a matter, about which a forward looking statement is made, occurring. The Company makes no representation about the likelihood of a matter, about which a forward-looking statement is made, occurring. The Company and its directors, employees, agents, advisers and consultants: give no representation or warranty to a recipient of this presentation as to the accuracy or completeness of the statements contained in this presentation or in relation to any other matter; and to the fullest extent permitted by law, disclaim responsibility for and have no liability to a recipient of this presentation for any error or omission in or for any statement in this presentation.

Reliance on presentation

A recipient of this presentation must make their own assessment of the matters contained herein and rely on their own investigations and judgment in making an investment in the Company. This presentation does not purport to contain all of the information required to make an informed decision whether to invest in the Company. Specifically, this presentation does not purport to contain all the information that investors and their professional advisers would reasonably require to make an informed assessment of the Company’s assets and liabilities, financial position and performance, profits, losses and prospects.

Not a recommendation or financial advice

The information in this presentation is not a recommendation to subscribe for securities in the Company and does not constitute financial advice. Any person who intends to subscribe for securities must conduct their own investigations, assessment and analysis of the Company and its operations and prospects and must base their investment decision solely on those investigations and that assessment and analysis. Prospective investors should consult their own legal, accounting and financial advisers about an investment in the Company.

Authorised for release by the Board of iCetana Limited.

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Video Management
System
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An AI video analytics software company

• AI driven video analytics software that dramatically improves active monitoring of surveillance networks

• Self learns “normal” movement patterns

• Abnormal movement highlighted in real time

• Complements existing video management systems to remove noise and increase efficiency for operators

• Revenue generated from software-as-a-service SaaS (per camera) and enterprise contracts

• The world leader in motion video analytics

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Cor orate Overview p

Capital	Structure at IPO	Structure at IPO	Structure at IPO	Structure at IPO
Share Price																A$/share	$0.210
Shares	on Issue															m	137.0	m
Performance Shares1																m	3.0	m
Options																m	47.0	m
Market Capitalisation																A$m	$28.8	m
Cash2																A$m	$5.2	m
Debt																A$m	Nil
Enterprise Value																A$m	$23.6	m
1. Performance shares include revenue milestones over the next									5 years
2. As at 31 December 2019 (un-audited)
				Share Price Performance
$0.30				Volume (Shares			Traded)				Closing Price ($/share)						2,000,000
$0.15 $0.20 $0.25 Closing Price ($/share)																	1,000,000 1,500,000	Volume (Shares Traded)
$0.10
$0.05																	500,000
$0.00																	0
23-Dec-19			30-Dec-19	06-Jan-20		13-Jan-20				20-Jan-20			27-Jan-20			03-Feb-20	10-Feb-20

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Corporate Snapshot

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Non-escrowed
26.2%
Escrowed
73.8%
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*Includes both voluntary agreements entered into and ASX imposed restrictions

Shareholders

Shareholders	Shareholders
Go Capital Tech Fund 2 PtyLtd 28.9%+
	Go Capital Tech Fund 2 PtyLtd 28.9%+
	Yuuwa Capital LP 24.1%+
	Curtin University 7.1%+
	Skiptan PtyLtd 10.5%+
	Board and Management(excl Go Capital holding) 3.3%

+escrowed shareholders

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Compelling Investment Proposition

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iCetana has initial sales globally including North America, Australia, Middle East, London and Japan. iCetana is now poised to make a ‘step change’ in penetrating the rapidly growing global market for video analytics solutions focussed around artificial intelligence and machine learning The product is real and generating growing sales.

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Rapid growth in Genuine IP with significant global solution in market production ü ü Market growing to 9+ Years of development over A$12b by 2023 ü A$10m invested in product to date

ü Operating in 38 global sites

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Enterprise grade Experienced Recurring and externally leadership team validated . . ü ü ü Partner channel Experience in SaaS based revenue strategies enterprise software, ü Strong revenue ü product management ‘multiplier effects’ growth and B2B distribution driving strong pipeline growth

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A Booming Market in need of an AI Solution

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Surveillance Challenges

• Cameras are 98% used for recording only

• cameras

• A great many , but not enough operators

• real time monitoring is not in place

• Existing video analytics fail customers

• Cannot scale for busy scenes/large networks

• Rules based systems prone to errors

• Huge surveillance infrastructure investments fail to identify

• Health and safety issues or

• Manufacturing /production challenges

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A Boomin Market g

Software is the fastest growing segment with SaaS as a big part of this growth

Video analytics spending will reach US$8.6bn (A$12bn+) by 2023 growing at ~22% per annum

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80 GLOBAL VIDEO SURVEILLANCE & ANALYTICS MARKET
70
8.6
Non Analytics (15% growth)
60
Analytics (21.5% growth) 7.3
50 6.0
5.0
40
4.1
3.4
30 61.1
2.8
53.2
46.6
20 40.8
35.7
31.2
27.3
10
0
2017 2018 2019 2020 2021 2022 2023
US$B
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Source:

• Research and Markets - researchandmarkets.com/research/r3r3rg/global_video?w=4.

• • Markets and Markets - marketsandmarkets.com/Market-Reports/intelligent-video-analytics-market-778.html

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The iCetana Solution

How it works…

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2 weeks and billions of pixels to understand normal

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The LiveWall[TM] only displays anomalous events

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Deliverin reat outcomes for clients g g

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Strong Business Case

• Increase speed of response and reduce impact of threats

• Generate real-time insights from huge video data streams

• • Improve ROI of security infrastructure

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• Mitigate impact of events (physical and reputational)

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iCetana

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iCetana toda y

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• 9+ years of AI/Machine Learning development

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• A$10m+ invested into the underlying technology

• Patents in US, Japan, and Australia +

• Over 12,000 cameras and 38 customer sites

• Largest site 2,400 cameras

• Customers in campus’, casinos, retail, office building, manufacturing, and military security

Offices in Perth. Dubai, London and representative staff in the US

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Scalin our B2B distribution model g

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ENTERPRISE SALES Value Added Resellers

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REMOTE TECHNOLOGY MONITORING VENDORS Direct engagement Server and VMS

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NEW R&D GPU and Camera systems

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• Chubb

• Prosegur

• Convergint

• Stanley

• Delco

• Chubb

• Securitas

• G4S

• Downer

• ADT

• HPE

• Dell

• Rasilient

• Milestone

• Genetec

• nVidia

• Axis/Canon

• Bosch

• Panasonic

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•
Ricoh
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• Cisco

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A selection of customers and artners p

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Operating across a number of verticals and focused on securing additional industry verticals in the coming years including prisons, healthcare and financial services

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Majid al Futtaim shopping center

University of Perth based California San Diego Universities (x2)

US Health Care reference hospital

US Diversified Multinational

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Global manufacturer of banknotes

All logos and names used with permission

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IPO Use of Funds & Growth Plan

Market activity is accelerating as customers refine their strategy and technology solutions with regards analytics.

Following the completion of the $5m IPO, the company intends to rapidly grow the business and capitalise on market growth and deal pipeline. The funds will be used on the following key areas:

Go-to-market and People

Accelerate Product Roadmap

Working Capital People ü ü Refine segment based GTM and Improved financial strength to improved sales capability pursue Tier 1 opportunities ü ü Further develop indirect sales Assist move from “enterprise” model with channel partners to more “SaaS” style contract pricing with clients üRefine skills mix in sales, ü technical delivery and AI/ Targeting financial self machine learning sufficiency

ü Implement and develop updated product functions to improve customer experience ü Accelerate aspects of the product roadmap (VMS and technical standards) ü Further increase levels of sophistication in AI driven video analytics and machine learning

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Growing Revenue with an Exceptional Pipeline

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Sales structure transformation

The sales structure has rapidly moved to a recurring-revenue model over the past 4 years

Recurring Enterprise (up-front)

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2016 7% 93%
2017 20% 60%
2018 45% 55%
2019 53% 47%
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The Team

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Ex erienced and Proven Board of Directors p

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Mark Potts Chairman

Matt Macfarlane Managing Director & Chief Executive Officer

Geoff Pritchard Executive Director Justin Mannolini Non-Executive Director

• Highly respected enterprise software executive, with extensive experience with new technology platforms in Australia and the US

• Previous CTO and VP Corporate Strategy with HP Enterprise

• Director of Resolute Mining (ASX/LSE: RSG)

• Founding CEO of iCetana, 9 years Venture Capital management, successful angel investor and entrepreneur

• Experienced technology and software development commercialisation leader.

• Geoff is an experienced Chairman, Executive Director and Chief Executive

• Actively engaged in Governance, Strategy Consulting, Corporate Advisory, Venture Capital and Private Equity to the Superannuation, Family Office, Financial Services and Technology Sectors

• Lawyer, director and former investment banker, focusing on mergers & acquisitions, equity capital markets transactions, and corporate governance advice to public, private and government entities

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Ex erienced and Proven Com an Leadershi p p y p

Kevin Brown Chief Operations Officer

Damon Watkins Chief Revenue Officer • Experienced enterprise software sales executive and recent CEO of a listed ASX fintech

• •

• Led the tech team that drove Experienced enterprise VGW from $300/day to software sales executive $1.4m/day and recent CEO of a listed

• • Proven track record in software ASX fintech •

• delivery that delights customers Track record in enterprise and empowers dramatic growth sales growth through in revenues direct and channel

• • Ex Nearmaps and WABN strategies

Matt Macfarlane Shane Cranswick Chief Executive Chief Financial Officer Officer • • Founding CEO of iCetana Chartered Accountant and 9 years Venture Capital Company Secretary • management, successful Over 20 years of angel investor and experience including with entrepreneur listed ASX companies • • Experienced technology and Ex Anderson and Apollo software development Group commercialisation leader

• Chartered Accountant and Company Secretary

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Sam le customer: Cal ar based universit p g y y

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“Over the course of career I have been involved in the my installation of hundreds of thousands of cameras and until iCetana none of them had captured an event in real time.” - Dan Bilodeau, National Sales Manager, Delco Security

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Customer found multiple events in the first few weeks of deployment (burn-outs/doughnuts, student fights, loitering along secure fence line)

MRU YouTube coverage video: youtu.be/zKcgXbK4E8c PR coverage has lead to 25 new leads registered in Canada

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Contact Matt Macfarlane ceo@icetana.com.au