IKEGPS GROUP LIMITED — Investor Presentation 2021

Sep 29, 2021

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Important Notice

Information in this Presentation:

• ➕ is for general information purposes only, and is not an offer or invitation for subscription, purchase, or recommendation of securities in ikeGPS Limited;

• ➕ should be read in conjunction with, and is subject to, ike’s FY21 financial statements, market releases, and information published on ike’s website (www.ikegps.com);

• ➕ includes forward-looking statements about ike and the environment in which ike operates, which are subject to uncertainties and contingencies outside of ike’s control – ike’s actual results or performance may differ materially from these statements;

• ➕ includes statements relating to past performance, which should not be regarded as a reliable indicator of future performance; and

• ➕ may contain information from third parties believed to be reliable – however, no representations or warranties are made as to the accuracy or completeness of such information.

• ➕ All information in this presentation is current at the date of this presentation, unless otherwise stated.

• ➕ All currency amounts are in NZ dollars unless stated otherwise.

Receipt of this Document and/or attendance at this presentation constitutes acceptance of the terms set out above in this Important Notice.

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Confidential

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Agenda

Introduction to IKE

FY21 performance, and FY22 momentum 6 Growth opportunities and market tailwinds 11 Solutions to expand revenue per customer 20

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AGM resolutions Appendices

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Introduction to IKE, the Pole OS™Company

ikeGPS (“IKE”) is an innovative developer of technology solutions used for the collection, analysis, and management of electric utilities and communications networks attaching to distribution power poles in North America

• The company has approximately 70 FTE staff today and is headquartered in Colorado, USA

• Its solutions enable electric utilities and communications companies (power, fiber, 5G, phone) to assess and deploy their networks more quickly, cost efficiently, and safely

• IKE has a tier-1 client base including AT&T, Crown Castle, Duke Energy and Exelon Group among >290 enterprise customers in North America

• IKE has a Board and executive team with deep industry experience

Products that are experiencing organic growth and utilization in the U.S. market

• IKE speeds up the assessment and construction process for network deployments

• IKE products drive customer productivity via less engineering time in the back office and in the field, and with increased quality and safety

• IKE is targeting to take advantage of an expected investment super-cycle of >$350b investment into fiber network and 5G deployment across the U.S. over the coming 5+ years

• IKE has “first mover advantage” and network effect potential from these large and high-profile tier-1 infrastructure customers

Attractive revenue model, high gross margins, recurring revenues, and significant operating leverage

• Annual subscription revenue comes from customer access to IKE software (cloud and field software) with high gross margins

• Transaction revenue comes from poles being processed or analyzed using IKE’s cloud software platform (charged per pole) with high gross margins

• Upfront revenue comes from IKE field tools and other services (used for capturing pole asset information in the field)

• IKE operates a direct B2B sales and delivery model, currently with 19 sales and delivery related staff

• Customers capture their own data using IKE or other technology - to be sent to the IKE Cloud = low fixed cost base and a scalable front end

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Executive summary

Strong performance across key metrics in Q1 FY22

• Q1 FY22 Revenue of NZ$2.6m (+12% on pcp and +30% on a constant currency basis as NZD:USD fx rate shifted from c $0.60 to c $0.70).

• Recurring subscription and transactional revenues now comprise approximately 78% of total revenue.

• Q1 FY22 was a record quarter for new contracts closed, at approximately $6.1m. This followed $5.4m in new contracts won in the quarter to March 2021, translating to new contracts won in the past six month to June 2021 of approximately $11.5m (against full year revenue of $9.3m to March 2021)

• Strong gross margins of approximately 68%

• Strong balance sheet with net cash and receivables position of approximately NZ$30m.

Outlook Commentary

IKE considers that it has emerged from the acute impacts of the pandemic in the strongest position it has ever been – in terms of talent, an extended product portfolio that allows more value to be delivered to customers across new pole market segments, balance sheet strength, sales run rates and sales pipeline.

Contract wins Q1 FY22 increased >300% on pcp, underpinning confidence in growth for the year ahead, expected to be driven by:

• Increased utilization of the IKE Office Solution by existing customers.

• Additive revenue from the new AI-based IKE Insight solution.

• Targeted customer expansion and new customer wins from a developed sales pipeline.

• Targeted addition of new modules to our platform to drive ARPU – via both internal development and potential acquisition.

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FY21 financial performance, and FY22 momentum

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Key metrics Q1 FY22 performance

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Takeaway:

300% growth in new contracts won against pcp provides confidence around the potential for substantial revenue growth in the year ahead.

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Takeaway:

Recurring subscription and transaction revenues have continued to grow in absolute and relative terms (shown by the Green and Blue segments in the chart). Q1 FY22 growth was +12% on pcp and +30% on a constant currency basis as NZD:USD fx rate shifted from c $0.60 to c $0.70.

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Key metrics Q1 FY22 performance

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Takeaway:

Transaction revenue is expected to be the major growth engine for IKE. Approximately 190% higher transaction volume and 23% higher transaction revenue reflects continuing success in shifting to this business model.

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Takeaway:

Subscription customers also provide the foundation to expand inside existing accounts.

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Key metrics Q1 FY22 performance

Transaction revenue, based on platform usage, is expected to be a core growth driver.

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Overall financial momentum

IKE’s revenue mix has shifted materially, with increasing levels of revenue expected from recurring subscription and transaction sources in FY22 (shown by the blue bar in the chart). This is an important and continuing trend in terms of increasing revenue quality and predictability to underpin growth.

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63% CAGR in
recurring
subscription &
transaction
revenu e
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Growth opportunities and market tailwinds

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IKE is partnering with the largest communications & utility companies in the U.S. IKE currently has approximately 299 enterprise subscription customers across North America. Growth is expected from expanding inside these existing infrastructure customers, and from winning new accounts..…

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An opportunity to leverage network effects

Communications groups in the U.S. market

• 200 communications companies in a race to build their network first

• A nationwide roll out of fibre – both urban and rural, and with and estimated 5-7 years to run in this investment super-cycle

Electric Utilities in the U.S. market

• 220M distribution power poles in the U.S.

• Network owners are mandated to share

• their distribution poles for ‘joint use’ for items such as fibre deployments

• Facing increased regulatory scrutiny

• • Facing high legal liability risk for network failures

• An ageing workforce

• Aging infrastructure risks

• Natural monopolies who share best practice across the industry

Seeking trusted partners & solutions to help deliver safe & reliable power & projects

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• 800,000 5G small-cell sites to be engineered and built. Much of it attaching to poles.

Seeking trusted partners with deep domain expertise, and new technology, that can help to get their network deployed faster

Engineering Service Providers (ESP’s)

• 1,000 ESP’s supporting these network owners

• Tend to work across multiple asset owners

Seeking solutions to extend their margins (typically thin) and to meet the quality or standards requirements of the asset owner

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A direct sales, delivery, and customer experience model Meet some of the IKE team. Pole experts, headquartered in Colorado, USA

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Eileen Healy (BS Electrical Engineering)

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Solutions to grow revenue per customer

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➕

➕

➕

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A perpetual requirement to assess and engineer distribution poles And the requirement to seek integrated solutions to drive efficiency, such as IKE's Pole OS™

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Network effects
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IKE is building The Pole OS™Company for the North American market A trusted platform of four Solutions, delivering compelling productivity and intelligence into distribution network businesses & projects

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IKE Office Solution

• Revenue model

• Platform Subscription plus,

• Transaction fees for assets processed plus, Upfront hardware revenue

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IKE Structural Solution

Revenue model Platform Subscription & Maintenance

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IKE Insight Solution

Revenue model

• Transaction fee per insight processed (can be multiple insights per asset)

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IKE Analyze Solution

• Revenue model

• Transaction fee for each asset processed on the platform

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Example customer upsell opportunities across the IKE Solution ecosystem Fortune-100 Electric Utility Group

An IKE Structural

customer. $30k Per Annum.

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May 2021
c$1.2m phase II
contract
extension
Oct 2020
c$700k phase
1 project
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Cross-sell, upshot

• In FY22 IKE is processing approximately 350k poles for one application for this customer

• There are >1.3m poles within this one entity

• There are five similar entities within this Fortune 100 Electric Utility Group. All currently use IKE Structural

• The ESP that is assisting this specific asset owner, has now introduced IKE into a IOU Electric Utility group to support a separate, large five-year program.

IKE Platform

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New addressable market segments via AI acquisition, called IKE Insight Bulk data processing using AI built for poles. Multiple new use cases to expand inside of existing customers.

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New addressable market segments via AI acquisition, called IKE Insight Multiple new use cases and applications to expand inside of existing and new customers

• Generate ROI by automating manual analysis

• Gain insights from new or previously collected imagery or data with configurable AI and predictive analytics (via Lidar, Thermal, Drone, Aerial, Tablets, or Phones, etc.)

• Eliminate subjective errors caused by human analysis

• Reconcile data and recognize patterns across massive data sets

• Reduce revisits with repeatable image-based analysis

• Bolsters limited or less knowledgeable workforce skill sets through AI knowledge systems

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New addressable market segments via AI acquisition, called IKE Insight Multiple new use cases and applications to expand inside of existing and new customers

IKE Insight Im age G allery			IKE Insight Im age G allery
Pole #150614 A v a il a b le I m a g e s ( 8 t o t a l )			Pole #150614 A v a il a b le I m a g e s ( 8 t o t a l )
N E S C V io l a t i o n s			N E S C V io l a t i o n s
J o i n t U s e			J o i n t U s e
F o r i e g n O w n e d			F o r i e g n O w n e d
O b j e c t D e t e c t i o n			O b j e c t D e t e c t i o n
As-builts			As-builts
R O W E n c h r o a c h m e n t			R O W E n c h r o a c h m e n t
P o l e S e g m e n t a t i o n			P o l e S e g m e n t a t i o n

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Use of funds post-capital raise

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Use of funds post August 2021 capital raise

• The funds raised provide balance sheet flexibility to execute on potential acquisition opportunities, subject to the enterprise value of the target.

• IKE additionally plans to invest in capability to accelerate overall customer acquisition, with a specific focus to accelerate the sales, market development development, and delivery capability of IKE’s AI technology, called IKE Insight. This investment is based on 1H FY22 market proof points.

• This will include investment into building development teams that will integrate AI technology capability into the IKE Office solution.

• It is expected that this will equate to approximately $1m of additional investment in 2H FY22 over the base plan.

Use of funds
Increase of sales and implementation teams	Up to A$4m
Funding for potential acquisition opportunities	Up to A$12m
Working capital	A$4.0m
Approximate costs of the Offer	A$1.3m
Total	A$21.3m

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IKE is...
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Thanks...

Dedicated to Serving Communications Companies, Electric Utilities, and Engineering Service Providers. Who are focused on:

• Faster network deployments.

• Improving network and data quality.

• Keeping crews out of harm’s way.

• Meeting the demands of regulators.

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Voting and asking questions

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Voting Card Question box
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Resolution 1

Auditor appointment and remuneration: That Grant Thornton is appointed as auditor of the company and the directors be authorised to fix the auditor’s remuneration.

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Resolution 2

Election of Eileen Healy: That Eileen Healy , appointed by the Board as a director effective 1 April 2021 and who retires and is eligible for election, is elected as a director of ikeGPS Group Limited.

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Resolution 3

Re-election of Alex Knowles: That Alex Knowles is re-elected as a director of ikeGPS Group Limited.

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Resolution 4

Placement capacity: That by way of a single ordinary resolution, the shareholders of ikeGPS Group Limited approve and ratify for all purposes, including NZX Listing Rule 4.5.1(c), the previous issue under NZX Listing Rule 4.5.1 of 19,300,000 fully paid ordinary shares in ikeGPS Group Limited to investors at an issue price of A$0.95 / NZ$1.00 on 19 August 2021.

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Appendix A: FY21 Results to March 2021

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FY21 Year in Review.

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FY21 Results Highlights (unaudited)

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FY21 Results Highlights cont.

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Appendix B: Examples of IKE Solutions

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