1Spatial : Interim Results for the six-month period ended 31 July 2022 (“H1 2023”)

28 September 2022

1Spatial plc (AIM: SPA)

("1Spatial", the "Group" or the "Company")

Interim Results for the six-month period ended 31 July 2022 ("H1 2023")

Delivering further revenue and ARR growth

1Spatial, (AIM: SPA), a global leader in Location Master Data Management (LMDM) software and solutions, is pleased to announce interim results for the six months ended 31 July 2022.

H1 2023 highlights

• Group revenue up 11% driven by growth in recurring revenue:

1. 18% increase in recurring revenue to £6.6m (H1 2022: £5.6m), representing 47% of

total revenue (H1 2022: 45%)

• 1. 67% increase in Term Licences revenue to £1.7m (H1 2022: £1.0m)
• Annualised Recurring Revenue ("ARR") up 29%:
• 1. ARR* up 29% to £15.2m (H1 2022: £11.8m at constant currency)

• 1. 115% increase in Term Licences ARR* to £5.2m (H1 2022: £2.4m at constant currency)
• Profit before tax of £0.3m (H1 2022: loss of £0.3m)

Financial highlights

• Annualised Recurring Revenue (ARR) is the annualised value at the period-end of committed recurring contracts for term licences and support & maintenance. Term licences ARR is the annualised value at the period-end of committed recurring contracts for term licences.

• Adjusted EBITDA is a company-specific measure which is calculated as operating profit/(loss) before depreciation (including right of use asset depreciation), amortisation and impairment of intangible assets, share-based payment charge and strategic, integration and other non-recurring items
• Net cash is gross cash less bank borrowings but excludes lease liabilities

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Group operational highlights

• Significant new customer wins, including contracts with High Speed Two (HS2) and a European Aerospace company
• Planned launch of multi-tenancySaaS-based solutions in H2, including Next Generation 9-1-1 (NG911) and Traffic Management Plan Automation, expected to provide significant future growth opportunities
• Post period-end secured two significant contracts with the State of Arkansas and Eastern Transportation Coalition, demonstrating further US momentum
• Solid progress made developing an ESG strategy on which the Board plans to provide an update in the 2023 Annual report

Outlook

• Trading in the second half has started positively and the Board remains confident in delivering results for FY 2023 in line with management's expectations

Commenting on the results, 1Spatial CEO, Claire Milverton, said:

"This has been another period of solid growth driven by a combination of new customer wins, expansion of our partner network and a positive market landscape. Digital transformation and the growing need for better quality, shareable location data to support infrastructure investment continue to drive demand for 1Spatial's solutions.

"We see a substantial opportunity to take further market share across our key regions as we look to the second half. We have good visibility into full year revenues and are focussed on continuing the significant progress made building recurring revenues in line with our three-year growth plan. With a strong pipeline and investment made to date, the Board remains confident in delivering results for FY23 in line with management's expectations."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.

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About 1Spatial plc

Unlocking the Value of Location Data

1Spatial plc is a global leader in providing Location Master Data Management (LMDM) software, solutions and business applications, primarily to the Government, Utilities and Transport sectors via the 1Spatial platform. Our solutions ensure data governance, facilitating the efficient, effective and sustainable operation of customers around the world. Our global clients include national mapping and land management agencies, utility companies, transportation organisations, government and defence departments.

Today, when using and sharing trusted data provides significant opportunities for businesses and governments to deliver against important sustainability and Net Zero goals, our vision is clear: to make the world safer, smarter and more sustainable by unlocking the value in data, enabling better decisions and greater insights.

The 1Spatial platform is a comprehensive set of data and system agnostic LMDM software components which helps ensure master data is compliant, current, complete, consistent, and coordinated - and that customers can be confident it will remain that way as it evolves. It allows them to master their data on any device, anywhere, anytime and can be deployed as SaaS in the cloud, on-premise, or as a hybrid of both.

1Spatial plc is AIM-listed, headquartered in Cambridge, UK, with operations in the UK, Ireland, USA, France, Belgium, Tunisia and Australia.

www.1spatial.com

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Half-year review

Following the launch of our three-year growth plan in 2021, we are already a financially, operationally, and culturally stronger business, as demonstrated by the progress made in the first half of this financial year. The growth in our revenues, annual recurring term licence revenue and the number of substantial new wins, many of which have potential for future expansion, confirm that we are successfully delivering against our three-pillared growth strategy focused on innovation, customers and smart partnerships.

We achieved Group revenues of £14.0m (H1 FY 2022: £12.6m), whilst at the same time increasing investment in the business.

At our FY 2022 results, I stated that the Board and I believed we were embarking on a transformational growth opportunity based on three key reasons:

• The customer and partner credibility we are gaining in the market
• The significantly growing market that we operate in
• The investment we have made in our market leading software platform During the first half of FY 2023, these reasons have become even more apparent.

Customer and partner credibility

We have achieved significant wins with new customers including HS2, a major European Aerospace company, the first win with the State of New York and a framework contract with the Eastern Transportation Coalition. Post period end, we secured our eighth NG911 competitive contract with the State of Arkansas. These new clients provide us with secure long-term levels of ARR and they provide excellent references and opportunities to increase revenues within these accounts.

Our relationship with key partners continues to expand and during the period we have signed a teaming agreement (delivery partnership) with CGI Inc., one of the world's largest independent IT and business consulting services firms, to be a strategic delivery partner on a five-year contract with the Home Office. Whilst we have no current indication of the value of our element, the total contract for CGI is initially valued at £95m. We have also started working in partnership with ATOS, a global leader in digital transformation and Rizing (now part of Wipro), a global SAP partner. The four-year contract with the California Department of Transportation (Caltrans) was won in conjunction with Rizing and is an indication that our strategic growth plan in the US continues to bear fruit and our reputation within the largest transportation system in the nation continues to strengthen.

Work on the large contracts secured in the previous financial year continue to progress well, enabling us to strengthen our relationships with key partners including the Geospatial Commission, QinetiQ and Atkins, adding to our credibility in the market by working with large customers and partners.

Significantly growing market

We are global leaders in providing Location Master Data management and this proposition is at the intersection of two global growing markets. Firstly, the Geospatial Information Systems Market is currently worth US$10bn, which is estimated to more than double by 2027 to US$21bn, and secondly, the mainstream Master Data Management market, which is worth US$12bn but estimated to quadruple by 2027 to US$47bn.

Despite the current macro-economic conditions, digital transformation, and the growing need for better, more accurate and shareable data to support infrastructure investment continues to drive demand for our solutions within our target markets, being Utilities, Transport and Government, where we are

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increasingly considered as specialists in this area. We are also continuing to see significant budgets in these areas committed from governments globally.

Investment in our market leading software platform

We have continued to invest in our market leading platform including investment in:

• Our core data management solutions such as our patented 1Integrate rules engine and our cloud-enabled portal, 1Data Gateway, to improve the user experience
• Our Esri based Business Applications such as 1Water and 1Telecomms which are currently focused on the European market
• Our cloud platform ready for the launch of multi-tenancycloud-based solutions, which are still on track to launch before the end of H2 2023. This includes Traffic Management Plan Automation (TMPA) in the UK and NG 9-1-1 in the USA for the cities and the counties.

Growth strategy

UK

We have seen strong growth in the UK during the half, with the signing of our first significant contract with HS2, to build a data validation gateway, which has significant potential for further expansion. The total contract value over the two years is £0.9m, with potential options to extend for a further two years.

The gateway solution will enable HS2 to validate the quality, conformance and design of construction- related data submitted by their Supply Chain, which in turn will contribute to the efficiency and effective information delivery on Europe's largest infrastructure project. This is a demonstration of 1Spatial's increasing ability to secure larger contracts across our key geographies and to design, deliver and implement large-scale critical systems.

We also signed a multi-year1Integrate call-off contract with the Department for Environment, Food and Rural Affairs (DEFRA). The contract enables DEFRA and its associates to license 1Integrate and procure its data management implementation services through the enterprise licence agreement on G- Cloud 12. DEFRA is responsible for improving and protecting the environment and this contract complements our relationship of over ten years in supporting and developing its data management, data governance and data quality capabilities.

We are also making good progress on implementing the solutions on the two major contracts (UK Government contract and NUAR) signed in FY 2022, and these are expected to provide growth opportunities in the future.

Successes such as these, and the considerable size of our sales pipeline, give us the confidence to continue to invest in the business, to ensure we have the right structure to deliver on the growing opportunity as we move into the second half of the year and beyond.

Europe

We continue to push the European market to transition from the perpetual licence model to the term licences structure but this is not as well advanced as in the UK and US. We signed a major five-year contract with a European aerospace company with a total value over the five years of approximately €3m including around €0.7m implementation services and around €0.6m per annum (for four years commencing in FY 2024) of software licence and managed services revenue. The timing of closing this contract combined with fewer recurring term licences impacted the revenue in the period which grew at 2% at constant currency.

US

The US is a key geography for our growth strategy to provide scalability. For example, there is only one department of transport (DOT) in the UK whereas there are 50 in the US, presenting a major opportunity

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