more momentum for NEA

20 April 2022

Q3 FY22: NEARMAP ACHIEVES RECORD QUARTER FOR GOVERNMENT PORTFOLIO IN NORTH AMERICA

• Generates US$2 million incremental annual contract value in a single quarter in North America for government sector alone

• Incremental revenue generated from government entities across 31 U.S states and 2 provinces in Canada demonstrating attractiveness, breadth and reach of Nearmap offering

• Nearmap technology and content now used by government customers in 42 out of the 50 U.S. states where it offers location data

Leading location intelligence and aerial imagery company Nearmap Ltd (NEA:ASX) is providing a further update on its North American business, having exceeded more than US$2 million in incremental annual contract value (ACV) from its government portfolio in North America in a single quarter (Q3 FY22).

This announcement continues the strong momentum for the Australian-headquartered technology company, which in March 2022 announced it had for the first time surpassed $150 million in Group ACV, and that it had signed its largest ever government annual contract in North America. This followed an update in December 2021, where Nearmap announced its North American ACV portfolio had for the first time surpassed US$50 million, and had for the first time exceeded the ACV of its Australian and New Zealand portfolio.

Nearmap Managing Director and Chief Executive Officer, Dr Rob Newman, said: "Nearmap is attracting new business in North America at a record pace. With momentum already strong across our core verticals, the ability to exceed our target for the government sector in Q3 FY22 by adding more than $2 million in incremental annual contract value shows the underlying strength of our business and proposition.”

NEARMAP GROUP ACV PORTFOLIO SURPASSES $150 MILLION

• Largest ever government annual contract signed in North America

• Don Weigel promoted to Senior VP of Product, joining Executive leadership team

Leading location intelligence and aerial imagery company Nearmap Ltd (NEA:ASX) has reached another key financial milestone, achieving for the first time an annual contract value (ACV) of $150 million1 for its Group portfolio.

This milestone continues the strong momentum for the Australian-headquartered technology company, which announced in December 2021 that:

• North American ACV portfolio had for the first time surpassed US$50 million;

• North American ACV had for the first time surpassed the ACV portfolio of its Australia and New

Zealand portfolio, with expectations the North American operations would continue to contribute

the majority of Group ACV in the future; and

• The Australia and New Zealand business continues to perform well.

Nearmap has also signed its largest ever government annual contract in North America, with premium content a key factor in the business win. Nearmap continues to successfully drive its strategy across core verticals. The largest ever government annual contract win demonstrates the enormous value and benefits government organisations gain from Nearmap technology, data, content and analysis.

Nearmap Chief Executive Officer and Managing Director, Dr Rob Newman, said: "Nearmap is in an incredible position where we continue to win new customers and retain existing customers due to our world-leading location intelligence offering. In achieving for the first time the milestone of $150 million in Group annual contract value, we again show the strength of our technology and data, and expertise of our global team. To announce this ACV milestone in the same month we signed our largest ever government annual contract in North America shows our global growth engine continues to power ahead.”