X2M Wins $1.1 Million AI-Enabled Smart City Tender

• X2M awarded $1.1M contract by City of Seoul for 50,000 safety devices
• Total devices under Seoul program now 150,000, with potential to scale to 1M
• Contract supports strong start to FY27 with $3M in contracted revenue
• X2M leads in AI-enabled smart city solutions in South Korea

X2M Connect Limited (ASX:X2M) has secured a $1.1 million contract from the City of Seoul to deliver an additional 50,000 connected personal safety devices, expanding its role in Seoul's AI-enabled smart city infrastructure. The contract, which supports a strong start to FY27 with approximately $3 million in already contracted revenue, follows the successful delivery of 100,000 devices under the original 2025 contract. The additional devices are scheduled for delivery by the end of December 2026, bringing the total contracted under the Seoul program to 150,000 devices. The program has the potential to scale to up to 1 million devices over time, consistent with the City's broader public safety roadmap.

X2M expects approximately $3 million in contracted revenue from the Seoul program.

The contract reinforces X2M's position as a leading provider of AI-enabling smart city solutions in South Korea, with potential for significant growth as customers adopt additional services.