IKE Q3 FY23 Performance Update

FOR IMMEDIATE RELEASE, 7 February 2023

Q3 FY23 Performance Update
YTD revenue of ~$23.3m (+134% vs pcp)
Continued demonstration of operating leverage

IKE performance update for Q3 FY23
ikeGPS Group Limited (IKE) (NZX: IKE / ASX: IKE) is pleased to release an update for the nine-
month period to 31 December 2022 (all figures in NZD).
IKE will host a webinar 7 February 2023 at 2pm AEDT/ 4pm NZDT to discuss the results. Please
click HERE to register.
Highlights:
+ YTD revenue of ~$23.3m (+134% vs pcp)
+ Q3 FY23 revenue of ~$7.9m (+88% vs pcp)
+ Q3 FY23 recurring subscription and reoccurring transaction revenue of ~$7.2m
(+121% vs pcp).
+ New contracts closed in Q3 FY23 of $7.3m
+ YTD gross margin approximately of ~$12.3m (+98% vs pcp), with a YTD gross margin
percentage of approximately 53%.
+ Total cash and receivables as at 31 December 2022 of ~$23.5m, comprised of $20.6m
cash and $3.0m receivables, with payables of $1.8m and no debt.

Commentary and outlook
IKE CEO Glenn Milnes commented, "Q3 was a continuation of the very strong first half at IKE. We
have achieved significant revenue and gross margin growth and are materially ahead of all
internal stretch targets.
Our fortress balance sheet remains in place, noting that the USD and AUD fx rates impact our
reported NZD position. Operating leverage is evident via the scalability of our software products
and our disciplined approach to operating expenses.
Macro-market tailwinds across North America remain, driven by the multi-year investment being
made into building overhead fiber networks, and separately, the more than $300B investment by
electric utilities forecasted into building & maintaining distribution network capacity and
associated network hardening. IKE’s product drive material productivity gains to support these
engineering activities.
We are executing on sizable sales opportunities and expect a healthy run rate of new contracts
to close in the Q4 FY23 period and beyond.”

2

The momentum across the business is set out in the following table and charts:
YTD Q3 FY23
PCP
(YTD Q3 FY22)
% Change
Total Revenue $23.3m $9.9m +134%
Platform Transactions
# of billable transactions 376k 234k +61%
Platform transaction revenue $14.3m $4.0m +258%
Gross Margin $5.3m $1.9m +179%
Gross Margin % 37% 48%
Platform Subscriptions
# of enterprise customers 365 319 +14%
Platform subscription revenue $6.4m $4.0m +60%
Gross Margin $5.7m $3.5m +63%
Gross Margin % 89% 88%
Hardware & Other
Hardware & Services revenue $2.5m $1.9m +32%
Gross Margin $1.3m $0.8m +63%
Gross Margin % 52% 44%



Takeaways
Chart shows the approximate
nine-month correlation
between the timing of signed
contracts and subsequent
timing to recognized revenue.
This timing lag reflects that
subscription and transaction
contracts are delivered over
time (normally 12 months),
based on usage rates of IKE
products by customers.
IKE experiences some
seasonality, with engineering
activity impacted in Q3
because of winter storm
events in North America.

3



Takeaways
134% total revenue growth
against PCP.
Recurring subscription and
reoccurring transaction
revenues (shown by the Green
and Blue segments in this
chart) dominate IKE’s revenue
mix, at >$20m YTD..
This element continues grow
because of the investment
into extending software
products, underpinning more
predictable growth with higher
quality revenue.



Takeaways
Significant growth in
transaction revenue has
continued, with >350k assets
engineered on the IKE
platform under the transaction
model YTD.
This is one of the primary
indicators of platform usage
by IKE customers, and is
expected to remain a growth
driver for the business.




ENDS

About IKE
We’re IKE, the PoleOS™ Company. IKE seeks to be the standard for collecting, analysing and
managing pole and overhead asset information for electric utilities, communications companies,
and their engineering service providers.
The IKE platform allows electric utilities, communications companies, and their engineering service
providers to increase speed, quality, and safety for the construction and maintenance of distribution
assets.
The core revenue engine for IKE is driven by the number of enterprise customers subscribing to the
IKE platform and the volume of assets (called Transactions) being processed through IKE’s
software.


Contact:
Glenn Milnes
CEO
+1 720-418-1936
glenn.milnes@ikegps.com

Simon Hinsley
Investor Relations
+61-401-809-653
simon@nwrcommunications.com.au

ikeGPS Group Limited
350 Interlocken Blvd, Suite 390, Broomfield CO 80021, USA
Office: +1 303 222 3218
www.ikegps.com

---

IKE Q3 FY23 Performance
Update
We’re IKE, the Pole OS™ Company
Glenn Milnes, CEO
glenn.milnes@ikegps.com
7 February 2023

ikeGPS
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Important Notice
•Is for general information purposes only, and is not an offer or invitation for subscription, purchase, or
recommendation of securities in ikeGPSGroup Limited (IKE);
•Should be read in conjunction with, and is subject to, IKE’s FY22 financial results (audited), 1H FY23 financial results
(unaudited) recent 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 outsideof 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 believedto 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.
Information in this Presentation:

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•Q3 FY23 financial results and performance update
•Market overview
•Team
•Technology and products
•Q&A
.
Agenda and Contents

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•134% total revenue growth against PCP.
•Recurring subscription and reoccurring
transaction revenues (shown by the Green and
Blue segments in this chart) dominate IKE’s
revenue mix, at >$20m YTD.
•This element continues grow because of the
investment into extending software products,
underpinning more predictable growth with
higher quality revenue.
Revenue in nine months to December 2022 of ~$23.3m (+134% pcp).
>$20m revenue from recurring subscription and reoccurring transaction sources.
Takeaways:

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•Chart shows the approximate nine-month
correlation between the timing of signed
contracts and subsequent timing to
recognized revenue.
•This timing lag reflects that subscription and
transaction contracts are delivered over time
(normally 12 months), based on usage rates of
IKE products by customers.
Takeaways:
A significant signed contract backlog supports a bullish growth outlook.
Additive to the signed contract backlog is a strong new opportunity pipeline.

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•Significant growth in transaction revenue has
continued, with >350k assets engineered on
the IKE platform under the transaction model
YTD.
•This is one of the primary indicators of
platform usage by IKE customers and is
expected to remain a growth driver for the
business.
Takeaways:
258% growth in transaction revenue vs pcp.
One of the primary indicators of platform utilization by IKE customers.

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Key metrics
YTD Q3 FY23
PCP
(YTD Q3 FY22)
% Change
Total Revenue
$23.3m
$9.9m +134%
Platform Transactions
# of billable transactions 376k 234k +61%
Platform transaction revenue $14.3m $4.0m +258%
Gross Margin $5.3m $1.9m +179%
Gross Margin % 37% 48%
Platform Subscriptions
# of enterprise customers 365 319 +14%
Platform subscription revenue $6.4m $4.0m +60%
Gross Margin $5.7m $3.5m +63%
Gross Margin % 89% 88%
Hardware & Other
Hardware & Services revenue $2.5m $1.9m +32%
Gross Margin $1.3m $0.8m +63%
Gross Margin % 52% 44%

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North American Market
Opportunity & Timing

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Current Market Dynamics Lead to Strong Tailwinds for IKE
7+ year macro-market tailwind of fiber
deployment, much of it engineered on
distribution power poles
Small Cell Deployments across North
America, much of it engineered on
distribution power poles
Infrastructure development via
Engineering Service Providers
Requirement for harder and higher
capacity distribution power networks
across all of North America
>3,200
Electric Utilities in North America with long-term, recurring
distribution network hardening, joint use, and capacity needs for
electrical distribution
>$350B
Investment forecast in fiber in the US by 2025, representing >30M
attachments; communications infrastructure providers seeking
partners to manage new fiber attachments for every pole
800,000+
Small cell site expansions are expected by 2025 as
communications infrastructure providers look to speed up 5G
rollout while reducing cost and time of deployment
>1,000
Engineering Service Providers in the US subcontracted by
telecom and utilities providers to assist in infrastructure
development and deployment

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Growing Network Investment across Electric Utilities; Support Needed for
Productivity Solutions such as IKE over the Coming Decades
7.27.27.27.27.27.27.27.27.27.27.27.2
3.63.63.63.63.63.63.63.63.63.63.63.6
3.63.63.63.63.63.63.63.63.63.63.63.6
44.9
46.4
49.3
52.2
59.4
65.2
71.0
78.3
82.6
87.0
89.9
95.7
$59.4
$60.9
$63.8
$66.7
$73.9
$79.7
$85.5
$92.8
$97.1
$101.4
$104.3
$110.1
201420152016201720182019202020212022202320242025
CanadianMuniCo-opsUS IOU
U.S. AND CANADIAN ELECTRIC DISTRIBUTION CAPITAL EXPENDITURES
ACTUALFORECASTED
CAGR: +5.3%
CAGR: +3.5%
$NZD in B

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Fiber and 5G Investment Super-Cycle in North America Still In Its Early Stages
PROJECTED INVESTMENTS INTO 5G & FIBER OPTIC INFRASTRUCTURE
$39B
20102018
$43B
$72B
2025
45% Growth in Avg. Capex p.a.
$NZD
Source: Bell Potter Initiation of Coverage Report, GSMA, American Tower
Note: Labeled Capex Figures reflect Houlihan Lokey Estimates

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Focused Use Cases for IKE Products and Technology
Market
Opportunity
IKE Use Case
•Consists of fiber & 5G network deployment
•200+ CIPs in North America
•650,000 cellular & small cell towers
•Over $441.0bn of investment in fiber
networks over the next 3+ years
•3,200+ electrical utilities in North America
•220m poles used in electrical transmission
& distribution
•$4.3bn TAM per annum
•1,000+ engineering service providers in
North America
•Conduct 50.0% of fieldwork and network
development for CIPs & electric utilities
•Improves speed of deployment
•Standardized data and cost of assessment
per pole asset
•Network hardening
•Pole audits
•Faster joint-use assessment turnaround
•Standardized method of pole assessment
•More efficient means of data collection,
leading to improved MRE permitting and
faster deliverables
CIPs
1
Electric UtilitiesEngineering Service Providers
$NZD
(1) Communications Infrastructure Providers
Source: Management Estimates, Bell Potter Initiation of Coverage Report, Houlihan Lokey Estimate

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Communications Market Macro
Addressing a large market opportunity
across the U.S. electric utilities segment
> 3,200 electric utilities across the U.S. facing common challenges.
Electric Utility Market macro tail winds
•Outages
•Aging infrastructure
•Potential catastrophic consequences
•Increased O&M costs
•Environmental clean-up costs
•Significant legal liability
•Regulatory and Engineering code
compliance
> 2,000 Engineering Service Providers
IKE improves the engineeringdesign and maintenance process of poles

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Addressing a large market opportunity
across the U.S. Communications segment
IKE dramatically speeds up aspects of the
network deployment process.
Communications Market Macromarket tail winds
•>$300B expected investment into fiber network development in the U.S over next 5+ years.
•>$50B expected investment into 5G network development in the U.S. over the next 5+ years
•An additional >$60B expected investment into rural broadband development as part of the Biden administrations
new Infrastructure bill
•>200 Communications companiescompeting to build a networks and winunderlying customers
•>1,000 engineering serviceproviders supporting network development

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A Sticky Tier-1 Customer Base in Place
•5 of the 10 largest Investor-Owned
Utilities (“IOUs”) in North America
•>350 customers in North America,
with 65 logos added in the past 12
months
Opportunities to:
•Materially grow, upsell and cross-
sell IKE products into existing
customer base
•Win new logos in the North
American market, with >6,000
entities participating in this space
•Expand into international markets
Telecom
Electric Utilities
Engineering & Project Management

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Multiple Avenues Supporting Future Growth Potential
Sales Team
Expansion / New
Customers
Inorganic
Growth
Cross Sell & Upsell into
Existing Customer Base
International
Expansion
$43mm
Revenue
“Today”
Revenue
“Future”
2
3
4
1
Sales Team
Expansion /
New Logos
1
Platform for
Inorganic Growth
3
Cross Sell &
Upsell
2
International
Expansion
4

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Team

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IKE’s people come for the job and the reputation of working at the company.
They stay for the accelerated development of their careers. A few of the
company’s young, emerging superstars are showcased below.....
Liz Etzel
Product Manager: Knows virtually
every customer and is persnickety
about exemplary customer
experience.
Jessica Walker
IKE Analyze Manager: Delivers every
customer project on time and on
scope.Started at IKE as an analyst.
Blake Collins
Solutions Engineering Manager: From
the field to the office, Blake speaks and
geeks on the complexities of utility
pole dynamics.
Sara Deere
Systems Engineer: Current holder of
the world-record for running
customer fieldteams with the least
recollects.
Dan Allan
Design Director: Loves CX, and lives its
importance when delivery brand and
CX specific to poles.
Accelerating at IKE
Some of the key faces representing the next generation of our industry
Spencer Hankin
Senior GIS Manager:The brightest data
analyst in the Pole GIS universe,
andcustomers like Crown Castle know it.

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Glenn Milnes
Chief Executive Officer
Joined IKE in 2013
Lydia Siloka
Head of People
Joined IKE in 2020
Stephen Fairbrother
Chief Financial Officer
Joined IKE in 2018
Jareth Rossking
Chief Information Officer and
Head of Engineering
Joined IKE in 2021
Malcolm Young
SVP Structural Analysis & Head
of IKE Structural
Joined IKE in 2019
Chris Ronan
Chief Marketing & Brand Officer
Joined IKE in 2020
Leon Toorenburg
Chief Technical Officer
Founded IKE in 2003
Chris DeJohn
SVP of Sales & Business
Development
Joined IKE in 2020
Jonathan Brigham
Director of Operations
Joined IKE in 2021
In-Market Leadership
A Direct Sales, Brand & Delivery Model Across North America

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A Board with deep industry experience
Board of Directors
Rick Christie / (MSc (Hons) Chemistry)
Independent Director
Rick Christie is the former Chairman of Ebos
Group, where he was Chair through much of its
growth to become a >$3B business today. He has
experience on a number of other major boards,
including TVNZ. Rick was previously CEO of
investment company Rangatira Ltd and had 20
years’ executive management experience in the
international oil & gas industry.
Glenn Milnes (MBA (Dist.), BSc (Hons), BPhed)
CEO & Managing Director
Glenn Milnes is the CEO and managing director at
ikeGPS, where he is accountable for the company’s
overall strategy, performance, and growth. Prior to
leading ikeGPS, Glenn previously held senior executive,
strategy and corporate development positions in the
Communications industry with Cable & Wireless
International, and with No. 8 Ventures.
Mark Ratcliffe
Independent Director
Mark was the founding CEO of Chorus New Zealand
from 2007 to 2017 where he led the deployment of New
Zealand’s national fiber network. Prior to Chorus Mark
was CIO and COO of Spark (formerly Telecom NZ). Prior
governance roles include Director of 2 Degrees from
2017 to 2020. The majority of his current portfolio is in
the Infrastructure Sector and he is currently the Chair
of First Gas, TuatahiFast Fibre, and a number of other
private and public sector boards
Alex Knowles
Chairman and Director
Alex has investing and operating experience
with international companies in the information
technology and transportation industries.
Based in Los Angeles, He was formerly Chief
Operating Officer of the largest international
freight forwarder and small parcel consolidator
in the U.S.
Fred Lax / (MSEE and BSEE)
Independent Director
Fred Lax is an executive leader with extensive
global experience in the telecommunications
industry and related technologies. Based in
California, he is a former director of NASDAQ listed
IkanosCommunications Inc. (acquired by
Qualcomm Atheros), and former Chief Executive
Officer and President of NASDAQ listed TekelecInc.
Eileen Healy / BS Electrical Engineering
Independent Director
Serial entrepreneur of two high-tech startups
addressing the U.S. communications market
including Healy & Co, thatprovides outsourced
engineering to the U.S. utility
market.Customers include AT&T Mobility, T-
Mobile, Vodafone, Verizon Wireless, Frontier
Communications, and FirstNet.

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Technology and
solutions

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A Full Stack of Pole and OSP Products & Solutions
Standardized digitization and field data
collection methods, with dashboard reporting
Bulk data and image processing using
low-code artificial intelligence for
distributionutility assets
Pole loading analysis through
PoleForeman and Sagline
Technology & automation drivenservice providing
pre-packageddata to accelerate engineering
+

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Business model upshot:
•A recurring Subscription to access any IKE
Solution
•Additive, reoccurring Fees based on usage
•Optional value-added products , such as IKE
Analyze and IKE University

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IKE is executing a rolling 12-quarter plan against three strategic swim lanes, to create long term differentiation
Building the PoleOS™ Company
Industry-leading application of field data
collection technologies specific to
distribution OSP projects
Market-leader in the application of field
data collection technologies specific to
OSP distribution assets
Market-leader in ability to process bulk
data from any source, specific to poles
Excellence in analysis and insights of pole
data to drive productivityoutcomes for
distribution OSP projects
Purpose-built cloud software to assess and
manage poles and projects efficiently
withadvanced analytics and integration with
ecosystem players
Standardization of OSP data forinternal as
well as authorized 3
rd
party use
To be the technology partner that customers
cannot imagine living without
Delivery of the best CX in the industry to
drive pricing power, retention, andupsell
opportunities
UX excellence and integrated work-flow &
flexibility to create an all-in-one, sticky
platform

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Standardized Field Data Collection with
Back Office CloudAnalysis and Project
Dashboards

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IKE Office ProIKE StructuralIKE InsightIKE Analyze
Standardized Field Data Collection with Back
Office Cloud Analysis and Project Dashboards
A service providing pre-packaged data to accelerate
engineering services
Data export to 100s of file types supporting Self Performance or
ESP-led Engineering Services
•IKE Reports
•PLA Reports
•MRA Improvements
•Pass/Fail Maps
•IKE Office Cloud Database
•IKE Photo Records
•Permitting
•Audit with GPS or Image
•Etc.
Simplify field data collection with the Android IKE Device
and send the data right into IKE Office Pro
With your data in the cloud your
options are limitless
The IKE Office solution enablescustomers to standardize
workflowsand create accurate, digitized polerecords fast
•Field data collection workflowplatform
•Back-office analysis software
•Real-time productivitydashboards
Delivering dramatic productivityimprovements: data quality,
speed,reduced re-work, and team safety

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Digitization via IKE Office Pro Cloud Software
Full integration to automate
pole load analysis
Measure poles, spans,
equipment, and location
Export data through
various methods and
various workflows
IKE Office ProIKE StructuralIKE InsightIKE Analyze

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Pole loading analysis integration
Standardize engineering team workflows
across infrastructure owners
Drag and drop form builder to make custom
forms and standardize team workflows
Automate and Integrate with Cloud Software Capabilities
IKE Office ProIKE StructuralIKE InsightIKE Analyze

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Dramatic Productivity Benefits for Customers
Real time, customized dashboards to
optimize project management
IKE Office ProIKE StructuralIKE InsightIKE Analyze
Detailed digitization of assets
via digital twins
Whole-of-network project viewStandardize the quality of field work

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PoleForemanis one of the four
standards for Pole LoadingAnalysis in
North America

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Integrates with existing client’s pre-built
databases, custom database requests, or
RUS (Rural Utilities Service) databases
Find out quickly whether your poles pass or fail and
easily export the results via the Pole Loading
Analysis summary screen
&
PASS
IKE Office ProIKE StructuralIKE InsightIKE Analyze
PoleForemanis one of the four standards
for Pole Loading Analysis in North America

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PoleForemanCapability....
Structural analysis
and 3D modelling
Measure clearances
Ensure structural
Integrity and NESC
compliance
Scaled 3D renderings
IKE Office ProIKE StructuralIKE InsightIKE Analyze

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IKE Office ProIKE StructuralIKE InsightIKE Analyze
PoleForemanintegrated
into any customer
networkdatabase
Deployed at the largest
IOU’s and Electric
Co-ops in the U.S.
Training available by
IKE pole experts,
anywhere
NextGen
PoleForemanbeing built
with requirements from
a coremajor customer
council

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The NextGen PoleForemanSolution Will Deliver Key
Differentiation to the Market
To be released 2023, designed with a customer council including the Standards Group leaders within:
IKE Office ProIKE StructuralIKE InsightIKE Analyze

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Bulk data and image
processingusinglow-code artificial
intelligencefordistributionutility
assets

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Industry Use Cases
Existing Data ImagesDronesThermal Imagery
Field DevicesLidarSatellite
•Utility pole audits
•Pole inspections
•Line degradation and
vulnerabilities
•New insights from
legacy audits
•Quality assurance
•Pole ownership
•Location validation
A.I. and Machine
Learning Platform
Data Collector App
Conditional App
Annotation App
Data Pairing App
Data Viewer App
NESC Violation Extraction
Measurement between 2 static objects
Measurement between dynamic objects
As-builts for future change detection
ROW Management
Pole Segmentation
IKE Insight allows access to pole imagery
from anywhere and for any reason
Field Data Collection Agnostic
IKE takes pole images and imports them into IKE Insight
A.I. and Machine Learning apps to conduct analysis
Use the analysis to get the
actionable insights
IKE Office ProIKE StructuralIKE InsightIKE Analyze
Bulk data and image processing using low-code
artificial intelligence for distribution utility assets

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IKE Insight Introduces a Range of Disruptive Capabilities
Automated instance
segmentation models for poles
Accurate pole detectors, and auto-
generated photo-realistic models
Text-based enquiry of bulk data
to be 'the Google’ forsearch
ofdistribution networks
(example search above: “Birds on Wire”)
IKE Office ProIKE StructuralIKE InsightIKE Analyze

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Pole & Engineering Analysis

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Height of Attachments (HOA)
engineering deliverable example
Pole Load Analysis (PLA) engineering
deliverable example
Make Ready Recommendations (MRR)
engineering deliverable example
For customers: Faster engineering, dramatic scale, profitability, and efficiency benefits
Example Deliverables:
IKE Office ProIKE StructuralIKE InsightIKE Analyze
Pole Analysis from IKE experts, software and
automation. Customers collect the distribution
network data.IKE performs the engineering analysis

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IKE Analyze Improves Resource Optimization, Drives Scale, Reduces Costs
and Increases Profit
10k+
hours saved
for customers
30%
faster collection
in the field
80k+
make-ready
recommendations
3x
efficiency
improvements
250k+
poles
delivered
50%
reduction in
recollects
IKE Office ProIKE StructuralIKE InsightIKE Analyze
Source: Company Data, Customer Case Studies, Management Estimates

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Thanks
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