1Spatial Plc: AGM Statement and Trading Update

23 May 2022

1Spatial, (AIM: SPA) will hold its Annual General Meeting at 11am today at the offices of Liberum Capital Limited, Ropemaker Place, Level 12, 25 Ropemaker Street, London EC2Y 9LY.

At the meeting, Andrew Roberts, Non-Executive Chairman, will make the following statement:

"1Spatial entered the new financial year in a significantly stronger position with a higher sales backlog, a partner network greater than we have ever had and increased levels of recurring revenue. The Group continues to invest in driving revenue growth, in particular longer-term annual recurring licence revenue. The range of recent contract wins, many of which have potential for future expansion, confirm that 1Spatial is delivering successfully against its growth strategy.

"Digital transformation and the growing need for better quality, shareable location data to support infrastructure investment continue to drive demand for 1Spatial's products across our key regions and markets. New customer wins in recent months include High Speed Two (HS2) in the UK, the State of New York and an expansion contract with the State of California. The opportunity for our business applications such as the Next Generation 911 offering, are considerable, with each new State secured presenting a significant revenue opportunity. We remain focused on capitalising on these opportunities across all our geographies as well as growing new partnerships, targeting the government and large enterprise digital transformation opportunities and, expanding our Cloud platform offering to increase the Group's addressable market. The planned launch of our multi-tenancy SaaS based solutions in H2, including NG911 and Traffic Management Plan, will provide significant future growth opportunities.

"The Group has a strong sales pipeline in all regions and the investments we continue to make in people and technology will position the business well to take advantage of the huge opportunity ahead. As such, the Board remains confident of delivering results for FY 2023 in line with current expectations."