SENSEN NETWORKS LIMITED — Capital/Financing Update 2018

Mar 27, 2018

ASX Release

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28 March 2018

SenSen Secures $0.9 Million Calgary Contract Expansion

HIGHLIGHTS

• SenSen’s flagship North American customer, The City of Calgary, orders five additional SenFORCE mobile parking enforcement units

• Material contract expansion boosts annual recurring and upfront revenues by 31% and 41% respectively compared to the parties’ initial contract announced in September 2017

• Further demonstrates SenSen’s ability to identify solutions and drive revenue opportunities when working in partnership with existing Smart City customers

Leading smart city solution provider SenSen Networks Limited (ASX: SNS, “SenSen” or “the Company”) is pleased to announce that it has secured a ~CAD$897,000 (~AUD$909,000) expansion to its contract signed in September 2017 with The City of Calgary.

The expansion covers Calgary’s purchase of five additional SenFORCE mobile parking enforcement units, with upfront revenue for the systems, software and commissioning amounting to ~CAD$540,000 (~AUD$547,500) to be recognised in FY18.

SenSen will also earn recurring revenues of ~CAD$89,000 (~AUD$90,000) per annum (FY19 – FY22) for the software licence and maintenance of these additional systems.

This expansion follows SenSen’s announcement in September last year that it had signed a multi-year contract to monitor parking and traffic in Calgary, one of Canada’s largest and smartest cities. The initial contract will generate approximately CAD$1.3M (~AUD$1.32M) for SenSen in FY18, for both fixed and mobile systems, software and commissioning, with recurring revenues of approximately CAD$290,000 (~AUD$294,000) per annum (from FY19 – FY22) for the software licence and maintenance of these systems.

In total, this means The City of Calgary contract will now generate up-front revenues of ~CAD$1.840M (~AUD$1.865M) in FY18 (+41% from original contract) and recurring revenues of ~CAD$379,000 (~AUD$384,000) each year in FY19-FY22 (+31% from original contract).

SenSen is supporting Calgary’s efforts to become a leading smart city in North America. For more than a decade, The City of Calgary has pioneered the use of advanced parking management and enforcement technologies for equitable and efficient access to parking spaces for its citizens. The Calgary Parking Authority is recognised as one of the world's leading parking management solution providers and is the only parking management company with a fully integrated parking system.

To help The City maintain an efficient and equitable parking management system, SenSen’s solutions will monitor its streets and parking zones for parking violations. This will be done using a combination of fixed and mobile control systems that are powered by

SenSen Networks Limited ACN 121 257 412 www.sensennetworks.com (+61) 3 9417 5368 Melbourne: Unit 4, 71 Victoria Crescent, Abbotsford VIC 3067 Sydney: Suite 1404, 3 Spring Street, Sydney NSW 2000

ASX Release

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SenSen’s advanced data analytics software which is a fusion of video with the Internet of Things (video-IoT). The result will be a fairer and more efficient parking management system as Calgary undergoes economic expansion and population growth.

Commenting on the expansion of the contract, SenSen CEO, Subhash Challa, said:

“We are delighted that Calgary, our flagship North American customer, has chosen to enlarge its SenSen program. We will ensure Calgary continues to have access to the most advanced and ground-breaking solutions for civic compliance, parking management and enforcement.”

Calgary Parking Authority Acting General Manager, Shelley Trigg, said:

“We are excited to expand our partnership with SenSen. Through their technology, we will continue to improve accuracy and streamline parking enforcement practices. The Calgary Parking Authority’s goal is to effectively manage parking in both residential and commercial areas, and SenSen’s system is key to helping us reach that goal.”

The City of Calgary contract expansion is the latest addition to a growing list of international government contracts won by SenSen to provide world-leading Intelligent Transport Systems (ITS) solutions. SenSen has now deployed proven, patented, worldleading Smart City-related solutions in Australia, Canada, Singapore, Europe, India and UAE.

For further information, please contact:

David Smith, Executive Director and Company Secretary Email: info@sensennetworks.com

Tim Dohrmann, Investor and Media Relations Email: tim@nwrcommunications.com.au

About SenSen Networks Limited

SenSen is focused principally on the development, commercialisation and supply of innovative, data-driven business process enhancement solutions, designed to assist customers in their business operations and significantly improve business efficiency and productivity.

SenSen provides video analytics and artificial intelligence data analytics software solutions to customers in the intelligent transportation systems and gaming sectors located in Australia, Canada, Singapore, Europe, India, and UAE.

Disclaimer – forward-looking statements

This release may contain forward-looking statements. These statements are based upon management’s current expectations, estimates, projections and beliefs in regards to future events in respect to SenSen's business and the industry in which it operates. These forward-looking statements are provided as a general guide and should not be relied upon as an indication or guarantee of future performance. The bases for these statements are subjected to risk and uncertainties that might be out of control of SenSen Networks Limited and may cause actual results to differ from the release. SenSen Networks Limited takes no responsibility to make changes to these statements to reflect change of events or circumstances after the release.

SenSen Networks Limited ACN 121 257 412 www.sensennetworks.com (+61) 3 9417 5368

Melbourne: Unit 4, 71 Victoria Crescent, Abbotsford VIC 3067

Sydney: Suite 1404, 3 Spring Street, Sydney NSW 2000