Ann: Q2 FY25 Quarterly Activities Report and Appendix 4C, page-6

The latest update gives us a lot to reflect on, and if you’ve been paying attention, the message is very clear - ACE is executing a steady, well-thought-out growth strategy.

ACE is solidifying its position both domestically and internationally - we know international is the key but they're kicking goals with their aussie contracts. The New Zealand contract ($92M over five years) and the Queensland expansion ($27.4M) are good examples of incremental, recurring revenue opportunities that will unfold steadily. Add to that the renewal of NSW’s largest contract and the launch of WA’s multifunction trailer solutions, and you see a company scaling not just its footprint but its expertise.

Ovbiously over in the UK they're doing very well with the PR, with lots of lots of eyes on the impaired driving system. So basically, 77% of UK drivers support mobile phone enforcement technology (from RAC report), ACE is positioned nicely to tap into significant future opportunities. These aren’t just technical achievements with the impaired driving enforcement, they’re scalable solutions that governments will increasingly prioritise as safety regulation tightens globally (I am assuming this). Hopefully we'll hear about how the regular contracts are doing in Febuary, but Vision Zero is a huge priority in the UK, which bodes well for us. US is the other major one I look forward to seeing - especially as various regions are getting government funding for road safety to use technology like ACE's. If we can get a contract in either region, I would not be suprised to see the SP go above $1.4 in the short term.

From what I read, $30.3M in cash reserves with no debt. Revenue has climbed to $14.6M, up 15.8% year-on-year. it’s already generating strong cash inflows ($5.1M this quarter). Looks like there's still plently of investment in R&D which is great. No doubt a new But a lot of the wins they get are incremental, which means their financial impact won’t fully show up overnight, but the seeds are being planted for significant long-term returns. Each new project or extension will help ACE’s relationships with key decision-makers. So the key here is how well ACE can deliver its contracts on time, especially New Zealand where it says itll be 2H FY25 and then ramp up.

ACE is growing intelligently IMO, so essentially securing contracts that provide both stability and room for future expansion. For LT holders like myself, the company’s methodical approach will make it an exciting space to be invested in. Historically it has taken the market 2-3 days to digest information from ACE (there is a lot to unpack), so I would expect a nice little boost soon, but perhaps not today.