• Entered into revenue share arrangements with Convera for US and Canadian education sectors
• Agreements have potential Total Addressable Market (TAM) exceeding A$275m
• TAM is over 5 times larger than UK education TAM

IODM Limited (ASX: IOD) has announced that it has entered into separate revenue share arrangements with Convera in respect of the United States education sector ('US Education Agreement') and the Canadian Education sector ('Canada Education Agreement') (collectively the 'NA Education Agreements'). The agreements have a commencement date of March 2025 and are subject to execution of formal agreements with customary terms and conditions. Under the agreements, IODM will receive a pre-defined share of the net revenue that Convera receives from each education institution that adopts the IODM Connect platform. The revenue share entitlement will be 20% for existing Convera clients and 30% for new Convera clients. The United States and Canada represent the largest market IODM has commercialised to date, with the NA Education Agreements delivering a potential Total Addressable Market (TAM) in excess of A$275m, which is collectively over five times that of the UK Education TAM (c. A$53m). The Board believes the penetration and on-boarding process will be both numerically larger and on-boarding timing truncated when compared to the UK, given the significant number of education institutions that Convera already services in the United States and Canada, combined with the positive enquiry from new education institutions regarding the IODM Connect platform.

The Company continues to engage with other payment providers with a view to formalising further revenue share arrangements in the United States and Canada. The Company will provide relevant updates to the Market as the engagement process results in additional IODM Connect platform revenue share arrangements.