AND HERE IT IS:24 May 2021ASX code: K2FRoy Hill Expands K2fly...

AND HERE IT IS:

24 May 2021
ASX code: K2F
Roy Hill Expands K2fly Agreement across Technical Assurance Suite Highlights:
• Roy Hill contracts K2fly Mining Technical Assurance Suite
• First sale of the full suite of new products that originated in the SATEVA suite of
applications acquired in Q2 FY21, now marketed as Mining Technical Assurance Suite
• Five-year contract with a total contract value (TCV)* of $2.44m
• K2F’s ARR*(Annual Recurring Revenue) grows 9% quarter to date to $3.30m pa
• Demand continues to grow for K2fly Mining Technical Assurance suite across tier 1 miners globally.
Following completion of the SATEVA Acquisition by K2fly Ltd (ASX: K2F) (K2fly or the Company) on 28
October 2020, K2fly is delighted to announce the first contract of the full Mining Technical Assurance suite
to Roy Hill.
Roy Hill is a world-class iron ore operation and the largest single ore mine in Australia. Situated 344km south
east of Port Hedland in Western Australia’s mineral rich Pilbara region. Roy Hill is an independent iron ore
operation with local majority ownership and chaired by Mrs Gina Rinehart. Roy Hill ships more than 60 mtpa
of iron ore, with approval to move to 70mtpa.
Among the many benefits to the adoption of this suite of products will be a significant improvement in critical
mine geology processes through automation, resulting in improved short-term scheduling and excavation
of the ore body. In large scale open pit mines, such as Roy Hill, small improvements in grade recovery or
excavation efficiency deliver significant additional value to the operator.
The contract marks two significant milestones for K2fly:
1. Our first contract of the full suite of SATEVA products including Model Management, Automatedore-blocking and mine-geology-data-management that work together to deliver enhanced assurance and improved recoveries for large open pit mines.
2. A significant expansion in our relationship with Roy Hill who have actively collaborated with SATEVA
previously and K2fly since the acquisition on this solution development and will continue to expand
our partnership and collaboration into the future.
Brian Miller, K2fly CEO stated that “We are delighted to expand our relationship with Roy Hill across the
Technical Assurance suite and are very excited by the opportunities for both companies that will come from
this contract and further solution collaborations. Roy Hill and its management have been a great partner to
SATEVA and now K2fly.”
Announcement released with authority of K2F board.
ENDS

GLAH ... Mal