HIGHLIGHTS

• X2M has been awarded an approximately A$1.1 million City of Seoul contract to supply a further 50,000 connected personal safety devices into Seoul’s Al-enabled smart city infrastructure
• The contract supports a strong start to FY27 with approximately A$3 million in already contracted revenue
• X2M has already delivered the 100,000 “HelpMe” personal safety devices supplied under its original 2025 City of Seoul contract
• The additional 50,000 devices are scheduled for delivery by the end of December 2026, taking the total contracted under the Seoul program to 150,000 devices
• The solution includes an Al based chat bot that deals with calls to a central number regarding questions on system operation
• The Seoul program has the potential to scale to up to 1 million devices over time, consistent with the City’s broader public safety roadmap
• The City of Seoul is also a customer for X2M’s remote water monitoring products
• X2M is a leading Al-enabled smart city solutions provider in South Korea serving 58 municipal customers
• Each HelpMe personal safety device connects into Seoul’s emergency response ecosystem, providing real-time safety data that supports faster response
• Gartner has forecast that 60% of Al projects lacking Al-ready data will be abandoned through 2026, underscoring the importance of accurate, real-time data infrastructure
• X2M’s existing South Korean customers represent an addressable market of approximately A$750 million in upfront revenue and around A$30 million in annual recurring revenue, assuming full adoption of X2M’s technology
• The contract follows X2M’s recently announced five-year partnership with Resi Ventures to develop Al-enabled regional data centre and energy precincts in Australia, initially targeting the Miners precinct near Ballarat (ASX announcement, 11 June 2026)