icetana Limited has signed a material software maintenance agreement for icetana's motion intelligence video analytics solution to an existing customer which operates several Middle Eastern shopping malls. The customer is icetana's second-largest in the Middle East. The contract has a total value of USD 132,480 (circa AUD 190,000) over the four year term.

This long term contract is payable 40% in July and 60% in March 2023. It shows the customer commitment to icetana following the initial year of service at one shopping mall site. The customer has reported to icetana its realisation of direct savings in manpower costs as a result of using icetana's motion intelligence video analytics solution, as well as having successfully detected a range of security incidents that resulted in concrete actionable response activities over the past 12 months.

These incidents included detection of smoke caused by a fire event that was unreported until icetana's solution highlighted the incident to control room staff. Material terms of commercial arrangements: The contractual arrangement disclosed in this announcement is between icetana and entities related to the Tandeem group, the customer. The customer is subject to the End User Licence Agreement as published on the icetana website; Payment terms with the customer are 30 days with invoicing to proceed 40% in July 2022 and 60% in March 2023.

This customer has a positive payment history with icetana. The contract includes a 48 month term of software support and maintenance timed to align with the invoicing. It is therefore possible that no material revenue over and above the contract value materialises from the customer pursuant to this commercial arrangement going forward.