RocketBoots Renews Contract with Major Australian Retailer

Artificial Intelligence software company RocketBoots Limited (ASX:ROC) (RocketBoots or the Company), is pleased to announce that it has extended a foundation partnership with a major Australian retailer (the Customer)¹ for the provision of ROC software across its retail locations.

Highlights

• RocketBoots extends its SaaS contract with a major Australian retailer
• The deal continues a 7-year foundation partnership across > 250 locations
• Contract term is 1 year with a prepaid annual contract value of $339K
• Advanced discussions continue across a number of international enterprise customers, with the Company focused on closing several near-term opportunities.

Australian Retail Agreement

RocketBoots confirms a contract extension with the Customer, which continues a 7-year partnership providing critical software across its Australian locations. Over this time, the Company has established opportunities to optimise operations, as well as integrate RocketBoots technology with other retailer systems further enhancing the Customers ability to leverage value across its operations.

Importantly, RocketBoots has continued to demonstrate a sustainable return on investment that underpins its commercial model where the Company is now building momentum and scaling the business to secure a share in the billion-dollar global retail, grocery and banking markets.

Key contract terms include:

• The continued provision of RocketBoots' software across its store network;
• Prepayment of contract value of $339K, up 5% from previous;
• Contract term of 1 year, with the option to extend in 1-year increments; and
• Either party may terminate the agreement at any time, however contract prepayment is non-refundable.

Commenting on the Customer contract extension, RocketBoots Chief Executive, Joel Rappolt, said:

“We continue to show our ability to retain and scale our software in key customer markets. RocketBoots has market validated and leading loss prevention software that allows our customers to realise significant value, which is critical considering the rise in retail theft having greater impact on profitability.

The Company continues to focus on scaling the business internationally across a robust pipeline with near- term opportunities.”

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