exactEarth and Hisdesat Announce Multi-Year Contract with European Maritime Safety Agency

Contract could generate up to CAD$7.0 million for exactEarth over four years

CAMBRIDGE, ON and MADRID, Jan. 13, 2020 /CNW/ - exactEarth Ltd. ("exactEarth" or the "Company") (XCT: TSX) and Hisdesat announce that in partnership they have been selected by the European Maritime Safety Agency ("EMSA") to provide satellite-AIS data services for a four-year period. All financial terms are in Canadian dollars unless otherwise stated.

Hisdesat, as prime contractor, will provide EMSA with exactView RT, exactEarth's second-generation real-time satellite-AIS data service. Actual revenues under this framework contract will be determined by the task orders placed by EMSA, which is at their sole discretion, but based on their prior service expenditure history, exactEarth estimates that it could generate revenues of between $5.0-$7.0 million for the Company over the life of the contract.

"This contract was the result of a competitive tender process, which included both a full technical and commercial evaluation and was open to service providers in the market," said Peter Mabson, President and CEO of exactEarth. "Along with our partner Hisdesat, we are pleased to have been selected by EMSA for this mandate and to be providing satellite-AIS services to this vital maritime organization. We believe that exactView RT's unique real-time service capabilities - and the high reliability and quality of its data – differentiates us in the industry and will help support EMSA's vision and maritime strategy within the EU."  

"Hisdesat has been providing high performance satellite AIS services from exactEarth to many European agencies over the past 7 years and we are very pleased to have been selected by EMSA for this important contract," said Miguel Angel Garcia Primo, CEO of Hisdesat. "exactEarth's industry leading real-time satellite-AIS service is a natural complement to Hisdesat's advanced maritime domain awareness capabilities utilising our Paz radar satellite and we look forward to continuing to provide leading satellite maritime services to EMSA and other global customers."

Satellite-AIS is a navigational safety system by which ships relay information regarding their identity, position, speed and heading that is then captured by a satellite constellation, such as exactView RT. exactView RT consists of 58 operational satellite payloads and seven orbital spares that annually track a population of more than 600,000 unique vessels worldwide and generate real-time Average Global Revisit rates. In addition, a unique inter-satellite relay link guarantees download and delivery to EMSA of the AIS positions with an Average Latency of less than one minute after the message has been sent by the vessel.

About Hisdesat
Hisdesat was formed in 2001 as a government satellite services operator to act primarily in the areas of defense, security, intelligence and external services. The company provides secure satellite communications services to government agencies worldwide and Earth observation services with radar technology through the PAZ satellite, which was successfully launched in February 2018. Hisdesat is currently developing new opportunities in the area of satellite-AIS technology for enhancing vessel tracking and maritime domain awareness. For m ore information: www.hisdesat.es

About exactEarth Ltd.
exactEarth is a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions. Since its formation in 2009, exactEarth has pioneered a powerful new method of maritime surveillance called satellite-AIS and has delivered to its clients a view of maritime behaviours across all regions of the world's oceans unrestricted by terrestrial limitations. exactEarth's second-generation constellation, exactView RT, securely relays satellite-detected AIS vessel signals from any location on the earth's surface to the ground in seconds – thus enabling global real-time vessel tracking. This unique capability consists of 58 advanced satellite payloads designed and built by Harris Corporation under agreement with exactEarth and that are hosted onboard the Iridium NEXT constellation of satellites. www.exactearth.com 

Forward-Looking Statements
This news release contains statements that, to the extent they are not recitations of historical fact, may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements may include financial and other projections, as well as statements regarding exactEarth's future plans, our ability to continue as a going concern, objectives or economic performance, or the assumptions underlying any of the foregoing, including statements regarding, among other things, expectations of our exactView RT offering relative to competitors, timing of the achievement of real-time global vessel tracking via our second-generation constellation, timing expectations with respect to launch of satellites, expectations of the exactView RT capabilities driving growth, growth opportunities for the Company in the maritime information services market and the cost and revenue share in connection with the Harris Agreement. exactEarth uses words such as "may", "would", "could", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by exactEarth in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors exactEarth believes are appropriate under the relevant circumstances. However, whether actual results and developments will conform to exactEarth's expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause exactEarth's actual results, historical financial statements, or future events to differ materially from those expressed or implied by the forward-looking statements contained in this news release. These factors include, without limitation: uncertainty in the global economic environment; fluctuations in currency exchange rates; delays in the purchasing decisions of exactEarth's customers; the competition exactEarth faces in its industry and/or marketplace; the further delayed launch of satellites; the reduced scope of significant existing contracts; and the possibility of technical, logistical or planning issues in connection with the deployment of exactEarth's products or services.

SOURCE exactEarth Ltd.

For further information: Contact information: Araceli Serrano, PR Communications Director, +34 91 4490149, aserrano@hisdesat.es; exactEarth Media: Michelle Macintyre, Office +1 519-622-4445 x5890, michelle.macintyre@exactearth.com; exactEarth Investors: Dave Mason, Office +1 416-247-9652, investors@exactearth.com