Etherstack plc announce a 5-year renewal of the Global Teaming Agreement with Samsung Electronics Co. Ltd. In June 2020, Etherstack signed a Global Teaming Agreement with Samsung to deliver next generation Mission Critical Push-To-X over LTE solutions to telecommunication carriers and governments utilizing Etherstack's digital Land Mobile Radio soft switching technologies embedded within Samsung's advanced 4G/5G network solutions - this established the framework through which Etherstack and Samsung jointly pursued opportunities globally. The Global Teaming Agreement announced in June 2020 is terminated and replaced by a revised five year Global Teaming Agreement.

The revised Global Teaming Agreement has the following key terms and revisions: Global teaming relationship extended for a further 5 years - the original Global Teaming Agreement had an initial period of 2 years. The revised Global Teaming Agreement will apply for a minimum of five years - commencing from 30 September 2022. Exclusive teaming identified for a defined set of telecommunications carrier opportunities - Etherstack and Samsung have mutually agreed a set of customer opportunities and will collaborate in partnership for this defined set of opportunities.

This revised approach enables Etherstack to pursue a wider pipeline of opportunities to those being pursued jointly with Samsung. USD 1 million prepayment for identified second telecommunications carrier - Samsung will make a prepayment of USD 1 million to Etherstack. This prepayment will be applied against milestone invoices for this identified second telecommunications carrier.

Accelerated payment milestones for the first telecommunications carrier contract - the timing of cash payments has been revised to better reflect Etherstack's development progress and costs to date. This will provide Etherstack with an additional USD 431,000 in cash being received prior to this financial year end (31 December 2022). ~ USD 0.4 million order for additional services and equipment - Etherstack expects to deliver these services and equipment prior to this financial year end (31 December 2022).