Company Announcements

Seeing Machines Limited ("Seeing Machines" or the "Company")

23 November 2022

Seeing Machines Key Performance Indicators Q1 FY 2023

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has published its first set of non-financial Key Performance Indicators (KPIs) for the quarter ended 30 September 2022 (Q1 FY2023).

Highlights:

-     Cars on road increased by 204% over 12 months to 559,302 units (Q1 FY22: 183,517)

-     Guardian connections increased 19% over 12 months to 41,415 (Q1 FY22: 34,910)

-     Guardian units sold, yet to be connected of 9,698 units

KPIs - Q1 FY2023

Automotive:

Aftermarket (Guardian):

Going forward, Seeing Machines will publish updates to these KPIs on a quarterly basis.

Paul McGlone, CEO of Seeing Machines commented:

"I'm delighted to provide this additional transparency of quarterly progress across the company. Our technology is well entrenched as market leading and that is evidenced by the momentum we see in our dealings and importantly, the numbers. It is tremendous to see cars on road, fitted with our technology, increasing with a significant year on year hike and 25% increase over the final quarter of fiscal FY22, as more of our ongoing programs progress into production.

"In Aftermarket, our hardware sales have grown more modestly due to previously reported supply constraints but as previously announced, now that we have resolved these issues, we anticipate stronger growth towards the end of the year as a significant hardware delivery is received before the end of calendar 2022. This stock is expected to meet the growing demand for Guardian, in its current generation, this financial year. The rate of connections has also been slower than hoped as our customers deal with timing of supply and effects of the pandemic, which are still impacting the transport and logistics sectors, but we have seen encouraging signs of a return to a more normalised growth rate so far in the current fiscal year."

KPIs should not be considered superior to, or a substitute for, operating results prepared in accordance with accounting standards. For clarity, the above KPI's have been defined below.

Cars on road counts all light vehicles in production fitted with Seeing Machines automotive grade Driver Monitoring System (DMS) technology.

Guardian monitored connections is a global count of all vehicles fitted with Guardian and actively monitored.

Enquiries:

About Seeing Machines (AIM: SEE), a global company founded in 2000 and headquartered in Australia, is an industry leader in vision-based monitoring technology that enable machines to see, understand and assist people. Seeing Machines' technology portfolio of AI algorithms, embedded processing and optics, power products that need to deliver reliable real-time understanding of vehicle operators. The technology spans the critical measurement of where a driver is looking, through to classification of their cognitive state as it applies to accident risk. Reliable "driver state" measurement is the end-goal of Driver Monitoring Systems (DMS) technology. Seeing Machines develops DMS technology to drive safety for Automotive, Commercial Fleet, Off-road and Aviation. The company has offices in Australia, USA, Europe and Asia, and supplies technology solutions and services to industry leaders in each market vertical.

www.seeingmachines.com