Development of aviation fatigue detection solution

• Follows signing of exclusive license agreement to jointly develop pioneering eye-tracking solutions for the Aviation industry
• Non-recurring Engineering revenue (NRE) of US$2.65 million payable to Seeing Machines over 2 years covering product development and certification
• Seeing Machines and Collins to jointly market aviation fatigue detection product which is the first component of a potential multi-modal Pilot Support System

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve safety, has signed a Purchase Agreement and Statement of Work ("Agreement") with Collins Aerospace ("Collins"), a Raytheon Technologies (NYSE: RTX) business, and a leader in technologically advanced and intelligent solutions for the global aerospace and defence industry. This joint development of a fatigue risk management solution using Seeing Machines technology, will be taken to the commercial aviation market segment by Collins.

Further to the previously signed Exclusive IP License Agreement and in addition to the associated US$10m license payment, this Agreement will be accompanied by US$2.65m in NRE to support joint development of the launch product.

Advances in automation technologies across Aviation have enabled significant efficiencies and enhanced safety in flight operations. However, even the most advanced, automated aircraft demand levels of pilot performance that test the boundaries of human cognitive and physical limitations. These potential human factors-based risks can be effectively mitigated by fatigue detection integrated into aircraft and designed to detect and react, in real-time, to pilot impairment or performance degradation.

The Agreement will see Collins lead systems integration of the functional design, based on Seeing Machines' embedded Driver Monitoring Engine (eDME) and optimised by the Company's Occula® Neural Processing Unit.

Seeing Machines CEO, Paul McGlone commented: "We are pleased to begin the development of this aviation fatigue detection solution targeting aviation and specifically fatigue risk management. Based on our deep understanding and application of human factors science, this initial capability will support pilots and crew for the foreseeable future, perhaps more than 20 years, across many different aircraft types. Working with Collins, the world's leading Tier 1 Avionics supplier, perfectly complements our foundational position across the aviation industry with proven application of eye-tracking technology and commercial deals across aircraft, simulator and console operators. I look forward to announcing the first deal involving this launch product and am confident that this will lead to many new and exciting opportunities as our joint technology solutions evolve over time."