Gatekeeper Commences Upsized C$2.8M Transit Project in Oregon

Executive Summary

• Gatekeeper Systems Inc. has upsized and commenced a previously announced transit video and subscription project with a transit agency in Oregon.
• The project's total value has increased to approximately US$1.75 million, with recurring annual subscription revenue exceeding US$55,000 for a 5-year term.
• The Company expects to recognize the majority of the project revenue during its fourth fiscal quarter ending August 31, 2026.

Key Details

• Project value upsized to ~US$1.75 million (previously US$1.4 million), or approximately C$2.44 million.
• Recurring subscription revenue increased to >US$55,000 annually for an initial 5-year contract period, totaling approximately C$0.4 million in aggregate at current exchange rates.
• OEM factory installation will now be conducted on certain transit buses through GILLIG, a leading U.S. heavy-duty transit bus manufacturer.
• Mobile Data Collectors upgraded to accommodate up to 16 terabytes of video storage per transit vehicle.
• Project will equip a full fleet of transit vehicles with a comprehensive suite of video solutions, including subscriptions to the Company’s AI-assisted video management offering for video analytics and storage.
• Majority of project revenue expected to be recognized in Q4 fiscal 2026 (ending August 31, 2026).
• Project was initially announced on June 12, 2025.