• icetana AI receives renewal order from largest customer, Majid al Futtaim Properties
• Contract value of US$1,488,000 (~A$2,100,000) over 36 months
• 53% increase in annual recurring revenue to US$146,000 (~A$209,000)

icetana Limited (ASX:ICE), a company building self-learning security AI software for large-scale surveillance networks, has received a renewal order from its largest customer, Majid al Futtaim Properties (MAF), a Middle East shopping mall conglomerate. The contract value is US$1,488,000 (~A$2,100,000), to be billed as software-as-a-service (SaaS) over 36 months. The expansion in camera licences comes with a US$146,000 (~A$209,000) increase (53%) in the customer's annual recurring revenue (ARR), to be recognised from 6 March 2026 onwards. MAF has been a strong referring customer of icetana AI since 2016, with the company's AI software relied upon to service 16 shopping malls throughout the Middle East. This latest expansion order represents a significant increase to the existing contract size in USD terms. icetana's AI solution provides enhanced security while saving money on guards and is an integral part of MAF's large-scale mall operations.

This latest commitment to icetana by one of its key partners validates the company's technology and shows that there is a growing need for it across global security operations. The increase in camera licence footprint is further evidence of icetana's ability to demonstrate long-term value to its customers.