Company Announcements

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

23 August 2021

Actual Experience plc

(the "Company" or "Actual Experience" or "Actual")

New Contract Win

First major contract win since pivot to new professional services 'land and expand' strategy

Actual Experience (AIM: ACT), the analytics-as-a-service company, is pleased to announce that it has been awarded a multi-year Continuous Improvement (CI) contract from a leading global energy supplier ('the Customer'). This follows a successful Business Impact Assessment (BIA) project which the Customer completed in collaboration with one of Actual Experience's Channel Partners.

Highlights:

·      The CI contract is with the UK arm of a leading global energy supplier

·      The total value to Actual is expected to be approximately £1 million, based on the initial contract

·      The contract is for an initial three year period with potential for subsequent extensions

·      This is the first large customer to convert to a CI engagement having initially completed a BIA project

This new contract award follows Actual Experience's initial work undertaking a BIA for the Customer in March 2021, from which a number of significant operational and financial benefits for the Customer were identified. Under the terms of the contract, Actual Experience will identify further potential operational inefficiencies, as well as gaps in ESG, diversity and inclusion policies, and recommend improvements as necessary. This project is expected to deliver significant actionable data to the Customer as it shifts its focus to hybrid working following the pandemic, and will demonstrate the value of our new professional services offering to other large enterprises.

This contract win provides Actual Experience with a potential opportunity to execute on its 'land and expand' business model, whereby the initial revenue stream will expand if the Customer adds more employees to the service.

This contract win represents significant validation for Actual Experience's new professional services business model:

·     Market validation - that our key sales opportunities are with businesses transitioning to hybrid working post pandemic;

·     Target customer validation - that our key target customers are large enterprises; and

·     Product validation - that our BIA demonstrates the significant economic benefit to customers of our actionable data, enabling upselling to an initial CI contract, with the potential thereafter to expand into a larger portion of the customer's business ('land and expand' strategy).

This contract win is the first of a number of direct sales and channel partner sales opportunities that the Company is currently targeting. The total addressable market of employee in the sales pipeline has grown from four million to more than ten million since January 2021.

Notes:

Dave Page, CEO of Actual Experience plc, commented:

"This contract win is a significant milestone for Actual Experience. It follows our pivot to professional services and is validation of our new business strategy.

With the potential to further enhance the value of this contract with our 'land and expand' strategy, in the UK and internationally, as well as providing an important reference customer, this contract is a significant milestone for the business.

With further opportunities in the pipeline, we look forward to updating the market with news on our progress in the coming months." 

Enquiries:

Glossary

Business Impact Assessment (BIA) - a once off deployment of Actual Experience analytics which quantifies the human experience of a digital workplace in order to understand the impact that workplace is having on operational efficiency, inequality, carbon footprint, wellbeing, employee experience, and revenue.

Continuous Improvement (CI) - the ongoing deployment of Actual Experience analytics to perform a Business Impact Assessment on a regular and periodic basis, prioritise actions and act to improve the digital workplace.

Pipeline - Actual Experience's pipeline of new business consists of a set of customers at various stages of the sales process starting with customers that have been identified by Actual Experience and/or its Channel Partners for a targeted sales campaign.

About Actual Experience

Actual Experience's goal is to make the digital world work properly for everybody, everywhere, all of the time.

Our service has been developed from 10 years of academic research. Using patented technology, the Company analyses the human experience of digital services. In essence, Actual Experience creates a new, unique and highly actionable dataset that helps CHRO and CEO functions to meet their business objectives for New Ways of Working such as greater business growth, greener growth, better employee experience and wellbeing, and better diversity and inclusion. No Interaction with employees is required.

The focus is on improving the Digital Workplace, creating a level playing field for all employees, improving business efficiency, and enabling the reduction of business travel and hence carbon emissions. In this way, it also provides important new data so that companies can act to drive their ESG and DE&I agenda.

Actual Experience is listed on the London Stock Exchange (AIM: ACT). Our corporate headquarters is in Bath, UK. Actual Experience's unique and patented digital analytics-as-a-service is founded on cutting-edge research at Queen Mary University of London.

For further information please visit www.actual-experience.com @ActualExp