Cash generated from operations in Q3 2021 and for the YTD 2021 period was $395 thousand and $70 thousand, compared to cash generated from operations of $134 thousand and cash used in operations of ($3.0) million in the respective periods of the prior year. exactEarth’s cash, cash-equivalents and short-term investments were $7.0 million at July 31, 2021 compared to $6.7 million at April 30, 2021 and $7.5 million at October 31, 2020.

As of September 13, 2021, the number of basic and fully-diluted issued and outstanding common shares was 49,816,065 and 52,323,627, respectively. 

^{1 ,2} Non-IFRS Measures
We measure Adjusted EBITDA as earnings before interest expense, taxes, depreciation and amortization (“EBITDA”), unrealized foreign exchange losses, share based compensation costs, loss on disposal, strategic initiative expenses, share of equity investment loss, and COVID-19 related expected credit loss (“ECL”), less interest income, recovery on disposal and unrealized foreign exchange gains. We believe that Adjusted EBITDA provides useful supplemental information as it provides an indication of the income generated by our main business activities before taking into consideration how they are financed or taxed and exclude the impact of items that are considered by management to be outside of the Company's ongoing operating results. Adjusted EBITDA should not be construed as an alternative to net income (loss) determined in accordance with IFRS as an indicator of our performance or to cash flows from operating, investing and financing activities as a measure of liquidity and cash flows.

The Company defines “Order Bookings” as the dollar sum of contracts for the supply of products and services to its customers. “Order Bookings backlog” is the dollar sum of revenue that is expected to be recognized derived from customer contracts. Order Bookings and Order Bookings backlog are indicative of firm future revenue streams; however, they do not provide a guarantee of future net income and provide no information about the timing of future revenue.

We define Subscription Revenue as the dollar sum of fully executed contracts for our products and/or services to our customers that are subscription-based, typically sold with a one-year period of service and recognized in our "Subscription Services" segmented revenue.

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 L3Harris Technologies, Inc. under agreement with exactEarth and that are hosted onboard the Iridium NEXT constellation of satellites. www.exactearth.com   

Contact information
INVESTORS:
Dave Mason
Investor Relations
Tel: +1 416-247-9652
investors@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, 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, expectations of the exactView RT capabilities driving growth, growth opportunities for the Company in the maritime information services market, expectations related to subscription revenue, the benefits expected from the Transaction, the requirement to obtain necessary regulatory and shareholder approvals in connection with the Transaction and the anticipated closing thereof. 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 impact of the COVID-19 pandemic on customers and the market generally, the reduced scope of significant existing contracts; the possibility of technical, logistical or planning issues in connection with the deployment of exactEarth's products or services; the ability to obtain necessary regulatory and shareholder approvals in connection with the Transaction; and the ability to close the Transaction. The forward-looking statements contained in this communication are also subject to other risks and uncertainties, including those more fully described under the caption “Risk Factors” in exactEarth’s filings on SEDAR, including its Annual Information Form for the year ended October 31, 2020 and financial statements and related Management’s Discussion and Analysis for the year three and nine months ended July 31, 2021. The forward-looking statements in this communication are based on information available to exactEarth as of the date hereof, and exactEarth disclaims any obligation to update any forward-looking statements, except as required by law.