2026 Annual Meeting Presentation

www.ikegps.com
Annual Shareholder
Meeting Update
Glenn Milnes, CEO & Managing Director
glenn.milnes@ ikegps.com
September 2026

ikeG PS
2
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 ikeGPSGroup Limited (IKE);
•Should be read in conjunction with, and is subject to, IKE’s FY26 audited financials and 1Q FY27
performance update, 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 outside of IKE’s control – IKE's actual results or
performance may differ m aterially 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 m ade 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 prese ntation constitutes acceptance of the terms se t
out above in this Important Notice.

ikeG PS
3
Agenda
Performance headlines
New products & new market
segments
Outlook
Addressable Market
IKE’s Value proposition
Q&A

ikeG PS
4
•FY26 Platform Subscription revenue ~$19.2m; (+33% growth vs pcp and 99%
of target)
•Achieved positive underlying EBITDA in March quarter 2026 on a run rate
basis
•FY26 AnnualizedExit Run Rate (ERR) Platform Subscription Revenue
~NZ$20.7m (+18% growth vs pcp; +21% in constant currency)
•FY26 Total Revenue~NZ$26.6m
•Lower margin services business has become more profitable but isbelow pcp
service revenue levels.
•FY26 Gross Margin percentage increased to ~81% (up from pcp of 69%)
•FY26 Gross Margin of ~NZ$21.4m (+23% vs pcp)
•Total Cash ~NZ$33m (up from ~NZ$32.3m reported 3Q), net receivables of
~NZ$4.3m, no debt
FY26 guidance delivered.
FY27 guidance for ~35% subscription
revenue growth maintained.
IKE’s AI-first model connects revenue growth to operating leverage — revenue up,
opex scaling more slowly as AI adoption, pricing & implementation proliferates

ikeG PS
5
•463 subscription customers in trailing 12 m onths at 31 March 2026; 83 new
subscription customers added in FY’2026.
•Customer retention ~97% — IKE retains virtually all subscription customers year
over year
•IKE PoleForeman annualised recurring revenue (ARR) has now grown to ~NZ$13m
— achieved inside two years from product launch with ~230 customers now on
the platform.
•PolePilot - whi ch is an AI automation platform built specifically for distributi on
power assets, was launched and delivered a ~10% price increase across the
entire IKE Office Pro subscription base with no churn. AI is generating validated
revenue uplift in products and reducing costs in operations, this is not a
roadmap. This revenue benefit will primarily be recognized in FY27
•IKE softw are is now deployed across all 50 US states; trusted by 8 of the 10
largest investor-owned utilities in North America and 5 of the 10 largest US
communications companies
•More than 3 ,000 industry professionals attended IKE's National Electric Safety
Code (NESC) webinar series in FY26, led by IKE’s Grant Glause who now sits on the
main Board of the NESC and various other Distribution sub-committees. This
training covered over 800 organisations. A further 1,700+ engineers completed
IKE in-person NESC and OSHA IKE-certification programmes across more than
500 organisations
•Rod Snodgrass appointed to the IKE Board as Non-Executive Director
Other highlights.

ikeG PS
6
New Customer Council-led
products.
Delivering additive market segment & ARR
opportunities.
Update

ikeG PS
7
Increasing engineering design capacity
for the Communications market
What’s next for IKE PoleForeman?
•A major software update is coming to IKE PoleForeman
•Opens a large new market IKEdoesn't serve today –
Communications companies and Joint-Use Engineering
firms
•This new module materially simplifies joint-use execution

ikeG PS
8
A new product in IKE PoleForeman family
•Electrical design and management capability
•Moving also into Underground network design
•This helps utilities meet power delivery quality and regulatory
requirements as part of their Standards design process
•Built both for our existing IKE PoleForeman customer base and for
all other electric utilities in the U.S.
Power quality,
built into the IKE platform
Utilities' electrical design work & power management is
often done manually, with results that vary by engineer and
by region. That also does not factor DER.
This new IKE capability brings that work into a
Standardized software tool that utilities have designed
alongside IKE and that they will trust with their data —
giving every team a consistent, standardized way to meet
their power quality and design standards.

ikeG PS
9
From data to decisions
What’s next for IKE Office Pro?
•A new automated Make-Ready- Engineering software module
is coming to IKE Office Pro
•This extends the platform from data capture, digitization and
management into a new, automated layer of value for our
customers
•Built for our new & existing IKE Office Pro customer base —
delivering expansion within accounts we already serve

ikeG PS
10
PolePilot, an AI subscription module
released late FY26 to increase
productivity and efficiencies for IKE
Office Pro engineers
PolePilot was very easy to use and w as effective in many different pole
and environmental scenarios. The autom ated m arkers helped identify
wires and equipment that were difficult to see.
JOEL VESCIO
TRC

ikeG PS
11
Meet PolePilot, an AI subscription
module released late FY26 to
increase productivity and
efficiencies for IKE Office Pro
engineers
PolePilot was very easy to use and w as effective in many different pole
and environmental scenarios. The autom ated m arkers helped identify
wires and equipment that were difficult to see.
JOEL VESCIO
TRC

ikeG PS
12
Takeaways
➢AI-powered assistant to increase productivity for
analyzing pole data
➢SaaS tool to support all the digital needs for grid
modernization efforts
➢Expands on the strength of IKE's intelligent automation
capabilities for overhead asset management
Meet PolePilot, an AI subscription
module released late FY26 to
increase productivity and
efficiencies for IKE Office Pro
engineers

ikeG PS
13
IKE is deep in a utility vertical
workflow andis embedded in
utility engineering standards
AI as IKE’s accelerant – not its disruptor
AI widens IKE's moat — every new AI feature increases switching cost and pricing power
When IKE becomes a mandate
for every engineer in the utility –
competitors cannot replace
IKE has proprietary industry data,
including owning a 20M human-
engineered assets as a data set
General-purpose LLMs cannot replicate
IKE-specific AI and workflows, and our
U.S. utility customers are not going to
create theirown software.
AI-powered capability inside of
IKE's products has generated
higher pricing &more revenue
PolePilot enabled 10% increase
across the entire IKE Office Pro
subscription base – with no churn

ikeG PS
14
90-95% of IKE’s market is still untapped
The investment scale
•US utility capex 2025–2030: $1.1T–$1.4T
•2025 capex alone: ~$194B | 5-year CAGR: 8.5%
•Morningstar DBRS: utility investment "super-cycle" —
steepest demand growth in decades
•US grid must scale from 20% → 50% of national
energy capacity by 2050
•US Serviceable Obtainable Market: Estimated at
US$431M across current product suite
•Current US market penetration: say5% to 7%
•IKE's defined market rem ains untapped — before
Canada, international, or new product platforms
IKE’s position in it
Data sources: EEI, S&P Global Market Intelligence, Deloitte Power & Utilities, Morningstar DBRS, DOE. Management estimates for SOM.

ikeG PS
15
IKE is not adjacent to the grid investment
cycle. It is inside workflows.
Joint use
Every 5G & fiber attachment requires
a structural load assessment. IKE
runs those assessments.
Grid Hardening
Wildfire, storm, and flood response
requires proactive pole condition
assessment at scale. IKE's AI lay er is
purpose-built for this.
Digital Twin
Utilities building digital replicas of
their overhead network. IKE's field
data is the primary source feeding
those twins.
Market opportunity is
substantially uncaptured.

ikeG PS
16
The largest revenue opportunity in
IKE’s history is still ahead.
Three new products in
development
Purpose-build products demanded by our loyal
customers through customer-council
organizations.
Markets not yet addressed
Underground distribution market, Canada,
fiber/broadband/telecom. International (AUS, NZ,
UK). AI upsell across existing seat base.
Market validation & trust

ikeG PS
17
In the right market at
the right time
Addressable market update forNorth America

ikeG PS
18
$2T grid modernization in the North American
market demands digital grid intelligence
The aging infrastructure crisis hits its inflection
point now
•130 million wooden poles are approaching the
45-50 year failure threshold -~25–35million
poles w illrequire replacement or reinforcement
by 2035, with $10.8Kavgreplacementcost ->
Upto$345Bopportunity indistributionpoles.
1
•Severe weather now drives 80% of major
outages (US27B in disastercosts in 2024 alone)
- accelerating decay.
2
•Up to $2 trillion in U.S. grid modernization
investment over the next decade or so.
3
Takeaways
➢Digitally-enabled pole data analysis tools are
increasingly mandated for reliability and
resiliency compliance
Sources
1.https://info.ornl.gov/s ites /publications/Files /Pub160 200.pdf and https://www.energy.gov/sites/default/files/2024-
11/111524_Utility_Pole_Maintenance_and_Upgrades.pdf
2.https://www.clim ate.gov/news-features /blogs/beyond-data/2024-active-year-us-billion-dollar-weather-and-climate-disasters
3.https://www.pwc.com/us/en/ind us tries /energy-utilities-mining/library/assets /pwc-grid-modernization-strategy.pdf
130M wood poles
approaching the 45-50
year failure threshold
~25-35M wood poles
will require replacement or
reinforcement by 2035
$345B opportunity
for digital pole data
analysis tools
Need for digital solutions
to increase speed, reliability, and
resiliency compliance

ikeG PS
19
$43B in broadband funding demandsdistribution
network data intelligence
•$43B in BEAD funding drives unprecedented
fiber attachm ent volume on utility poles.
•FCC defines “large attachment requests” as
3,000+ poles per project
1
, mass digitization
is required for survey and m ake-ready.
•Global 5G small cell market exploding from
$7.5B (2025) to $74.6B (2023) – outdoor
deployments depend on pole loading and
clearance analysis.
2
•By 2026, there will be more than 800,000
sm all cells in the United States, up from
about 86 ,000 in 2018.
3
Sources
1.https://www.fcclawblog.com/2025/07/articles /fcc/fcc-adopts-new-pole-attachment-rules-to-streamline-broadband-deployment/
2.https://www.fortunebusiness ins ights .com/industry-reports/5g-sm all-cell-market-101600
3.https://www.res earchandm arkets.com/reports/4833401/small-cell-5g-network-market-share-analys is
800,000 small cells
in the U.S.
2026
86,000 small cells
in the U.S.
2018
$74.6B
2032
$7.5B
2025
Global 5G small cell
market growth
Takeaways
➢Utility poles remain the strategic backbone for
fiber and 5G small-cell deployments, supporting
thousands of new cell sites and fiber
attachments per project

ikeG PS
20
To see what matters
IKE hasbuilt capabilities to solve some of these
infrastructurechallenges
Creating sustainable competitive advantage
Safe and accurate grid
data collection and digitization
To know what's at risk
Identify network vulnerabilities,
ensure safety code compliance, so
toprioritize grid investments
To act & engineer with confidence
Centralized digital records of your grid
assets - enabling faster decisions,
transparent collaboration, and
measurable resilience improvements

ikeG PS
21
AI has unleashed a wave of data centre construction.
In 2023, AI data centres consumed about 4.4% of U.S.
electricity, and that share could triple by 2028.
Microsoft and Google estimate that the U.S. will need
500,000 more electric engineers in the next decade.
Heatwaves, wildfires, and storms are stressing electrical
network systems nationwide. Events once considered rare
- like the 2003 Northeast blackout that hit 50 million people
- are now seen as precursors of larger & more
commondisruptions.
Multiple factors are driving infrastructure investments, and the
need for technology, in North America

ikeG PS
22
01020304050
Exelon Group
Southern Company
Florida Light and Power
National Grid
Entergy
Consumers Energy
Duke Energy
LLMA Energy
Total
Millions of Electricity Customers
The Top 8 IKE Customers:
~43M homes & businesses,
>4x the entire Australian market
Standardized on IKE
Total Australian Market:~11m homes & businesses
The size of the North American market opportunity,
in Australian context
IKE’s Top 8 Customers
U.S. Infrastructure
Spend Projections of
>$400bn
over the next 5 years
Fiber network development
investment is projected to be
~$300bn over the next 5 years

ikeG PS
23
A huge expansion opportunity at investor-owned utilities
U.S. Market-Map of Investor-Owned Utilities (multi-$B companies)

ikeG PS
24
Sales opportunities for IKE products at over 2,800 Municipalities
and Co-Operatives
$10.0 Million or Less
$10.1 to $20.0 Million
$20.1 to $40.0 Million
$40.1 to $80.0 Million
$80.1 Million or More
No Reported Da ta
Rural Electric Cooperative*
*13 out of 924 co-ops did not report revenue and are not included in
the calculations. All co-ops are depicted.

ikeG PS
25
IKE’s Expanding Value
Proposition

ikeG PS
26
The grid faces unprecedented challenges.
Complete field-to-finish solutions from IKE to engineer a network through its lifecycle.
Business model upshot
➢A recurring subscription to access any IKE Solution
➢Additive, recurring revenue based on usage (license seats or
transactions)
➢Optional value-added products, such as IKE Analyze (driving
further transaction revenue) and training via IKE University
Solution for gaining actionable
insights from new or existing
digital imagery or data sources.
Field Data Collection platform
with back-office tools
anddashboards.
Back-end analysis for acquired
pole data.
Accurate, reliable, and
defendable pole load analysis
adhering to NESC compliance.
End-to-end resource for
in-person and online NESC®,
OSHA, and IKE product
training and education.
I
K
E

n
i

e
r
s
i
t
y

ikeG PS
27
AClear 10-year Mission guiding ourjourney
Manaakitanga
"We rise by lifting others." This means
lifting our customers, each other, our
communities, and IKE's stakeholders.
IKE’s purpose is Manaakitanga.
We rise by lifting others.
Mission (by mid-2034)
To be the most trusted and admired
company delivering software solutions
that drive productivity outcomes for the
Distribution Grid, with #1 market share in
the USA, and expanding internationally.
•What we do exactly: We deliver actionable
insights on overhead infrastructure. Our data
acquisition and analysis solutions transform
how to design, construct, and inspect
overhead assets and help achieve critical
industry objectives, such as grid resiliency
and fiber broadband expansions.

ikeG PS
28
Customers overwhelmingly recommend IKE,
with an independently assessed NPS of 91%.
Delivering the best CX in our
industry as a Strategic Pillar
Our core values create
differentiation, inside and out
This score is driven by:
•IKE’s focus on both product capability, industry-specific
outcomes, and customer experience.
•Purpose-built solutions for utility poles and overhead
infrastructure, based on customer-led product-market fit.
•Tangible ROI for utilities, telcos, and engineering service providers.

ikeG PS
29
IKE is trusted by 8 of the 10 largest
investor-owned utilities in North America

ikeG PS
30
IKE is trusted by 5 of the 10 largest
communications companies in the U.S.

ikeG PS
31
Right market, at the right time
Takeaways
➢Today, IKE has a presence in
approximately 6% of
addressable customers in the
U.S. but is estimated to be
only 20% penetrated. There is
an opportunity to:
➢Opportunity to develop up to
an additional 80% revenue per
annum from the existing
customer footprint as ‘White
Space’ via cross-sell and up-
sell, plus to
➢Sell to the other 94% of the
market via ‘Green Field’ new
logo opportunities
Addressable Customers
IKE’s Customer Presence
Say
6%
>90%
‘Green Field’ Opportunity
20%
Customer Penetration
80%
‘White Space’ Opportunity
Expert team, best-in-class technology, and execution capability

IKE’s software is
now used in all
50
States

Overhead Utility Data Collection
IKE technology has helped
companies engineer
20 Million
OVERHEAD ASSETS,
and counting.....
Takeaways
➢The same electric utilityassetis digitally
processed many times throughout its
lifecycle - for make-ready engineering, fiber
joint-use, clearance validation, or routine
inspection. Each new ne twork build,
attachment reque st, or safety audit triggers
another round of measurement and analysis.

3,000+ Attendees 800+ Organizations Trained
Getting-to-Market: Educating the North American Industry
Example of IKE's National Electric Safety CodeWebinar Series

Getting-to-Market: Educating the North American Industry
Example of IKE's In-Person NESC & OSHA Training
OVER
1,700
Attendees 'IKE Certified'
ROUGHLY
500
Organizations Trained

ikeG PS
36
Takeaways
➢+33% YoYgrowth, 99% of
revenue goal
➢The addition of new
customers, continued strong
upsells to existing customers,
and low revenue churn driving
Subscription growth in FY’26
FY26 Platform Subscription Revenue
Annual Platform Subscription Revenue Growth +33%
pcp – prior calendar period

ikeG PS
37
Takeaways
➢Seat count growth has
continued at a fast pace due to
customer additions, cross-
sells, upsells and strong net
retention
Total Platform Subscription Seats Growth of +15% vs. pcp
From cross-sells and upsells
pcp – prior calendar period

ikeG PS
38
Takeaways
➢Platform Subscription Mix;
72% of IKE total Revenue, up
from 57% in FY’25
➢Continuing to convert
hardware customers to
Device-as-Service
➢Training revenue (subset of
Hardware & Other) +8%
growth in FY’2026
~91% YTD Revenue from Recurring and Re-Occurring Sources
FY’26 Total Revenue by Segment vs pcp
pcp – prior calendar period

ikeG PS
39
FY’ 2026 Key Metrics
Takeaways
➢83 new subscription
customers were added in
FY'2026, 1.6 per week
Note 1:Subscriptioncustomer counts based on trailing 12 monthssubscription revenues. FY'2025
restated using this methodology.

www.ikegps.com
Thank You
Glenn Milnes, CEO and Paul Cardosi, CFO
glenn.milnes@ ikegps.com & paul.cardosi@ikegps.com