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Good evening gizmo,

According to confirmation in the Trading Update, delivered on 24th April, 2026, the Goa smart meter project has started. If that is what you are referring to in your 16:59 post. The Directors Talk Interviews, also seems to confirm that the Goa smart meter project, is progressing steadily, from the report published on 27th April, 2026, posted by me, this morning.

Take care gizmo.

LTI.

Good afternoon all,

There has been some resistance reported recently, in various states/locations, to the installation of smart meters, by some residents. But the Goa Electricity Department seems to be trying a potentially more acceptable approach.

From the Directors Talk report:-

" Authorised staff from DigiSmart Networks, approved by the Goa Electricity Department, will visit consumer premises to carry out surveys and installations. The department has advised consumers to check official identity cards, before sharing any information."

It seems like a reasonable approach to me. Let us hope they have some success.

Good Luck all.

LTI.

...... reports " Goa smart meter rollout highlights India's grid modernisation push ".

Good morning all,

From the report:-

" Smart meter installation has started in Goa, giving investors another clear sign that India's electricity distribution upgrades are moving from planning, into execution.

" Authorised staff from DigiSmart Networks, approved by the Goa Electricity Department, will visit consumer premises to carry out surveys and installations. The department has advised consumers to check official identity cards before sharing information.

" The installation is free for all consumers, which should support faster acceptance and reduce barriers to rollout. A smooth installation process can help strengthen confidence in the project delivery, while poor execution could slow momentum.

" Smart meters are important because they give electricity providers better data on consumption, billing and network performance. This can help reduce losses, improve collection efficiency and support more reliable power distribution."

It is good to read, via the Directors Talk Interviews, that the CyanConnode/DigiSmart Goa smart meter contract, is starting to steadily progress.

Good Luck all.

LTI.

Good evening gizmo, sandgrounded and all,

And as we understand it, the Asymmetric Keys allow for an additional layer of security, which protects both the Client and The CyanConnode Group, from what I can remember.

Good Luck all.

LTI.

..... was mentioned in your post on April 24th, 2026, gizmo. Just as a recap, on June 11th, 2025, the news that CWD had an involvement in the CyanConnode/DigiSmart consortium, that were successful with the Goa smart metering contract, was generally reported - although the CyanConnode RNS confirms " ...... to deploy approximately 750,000 smart meters.":-

https://projxnews.com/blog/goa-powers-up-cwd-digismart-bring-smart-meters-to-900k-homes

CWD's wireless Partners, also include Nordic Semiconductors, Semtech ( Who used to be known as Sierra Wireless ) and MediaTek.

https://cwdin.com/about.html

Good Luck gizmo.

LTI.

A good summary gizmo, well researched and put together.

Well done and Good Luck.

LTI.

Good morning gizmo and you are welcome.

I seem to remember that I commented early in the process, that each side would use tactics and negotiations - as in every negotiation - to try to get a deal that is acceptable to both parties. If that does not happen, for whatever reason, then The CyanConnode Group moves on.

The Trading Update was a welcome piece of information, delivered at a similar time to last years - last years was delivered on April 28th, 2025.

So we wait to see what eventually transpires.

You have a great weekend also gizmo and Good Luck.

LTI.

Good morning gizmo and all,

One of the foot-notes attached to yesterdays encouraging Trading Update:-

" As a trusted AMISP and OEM Partner, CyanConnode works with utilities, system integrators and meter manufacturers through a global, vendor agnostic ecosystem. The Company is playing a central role in the digital transformation of the energy sector, with projects spanning India, South East Asia, the Middle East and Europe."

So a very encouraging Trading Update, in my opinion. And you have made some very good points recently gizmo, in your own unique way.

Good Luck gizmo.

LTI.

Good morning all,

It is good to get confirmation that " During the second half of FY2026, the Company moved toward completion of its new product suite, including the FG28 model, cellular modules and In-Meter Gateways, which have significantly lower costs to the Company."

It is also good to get confirmation, that CyanConnode have re-invested some of the revenues, for the " ...... completion of its new product suite ...... ". Ongoing product development to cater for customer needs and potentially increase profitability, is essential going forward.

Good Luck all.

LTI.

Good morning all,

Some additional news within the Trading Update:-

" During the second half of FY2026, the Company moved toward completion of its new product suite, including the FG28 module, cellular modules and In-Meter Gateways, which have significantly lower costs to the Company. In anticipation of the new product launch, certain hardware shipments were deferred by the Company, leading to a lower proportion of revenue for the year, relating to the part of the Group's business, where it acts as a sub-contractor, supplying only its communication technology. Hardware shipments are expected to increase following the new product launch, targeted for H1 FY2027."

IntelliSmart, MonteCarlo and Genus have installed a significant number of smart meters this year, in India, which has potentially contributed to the CyanConnode " ..... expects to report revenues of in excess of £20 million ( subject to audit ) ( FY2025: £14.2 million ) for the period."

So encouraging news, I feel.

Good Look all.

LTI.

Good morning all,

An encouraging " end of term " report, with confirmation that the Goa smart meter project has now commenced.

Also from the report:-

" The Company continues to make steady progress with several long-term prospective projects, in the APAC region and Middle East. These opportunities are moving closer to order stage, and if secured, would represent good growth potential for the Group. In addition, CyanConnode has been active in participating in a number of tenders, both as an AMISP and as a sub-contractor, in India."

As the report says - " The Company continues to make steady progress ....... ".

Good Luck all.

LTI.

...... has been published, with the CyanConnode expecting revenues to exceed £20 million, for FY2026.

https://polaris.brighterir.com/public/cyan/news/rns/story/x5ev00x

Good Luck all.

LTI.

...... Infrastructure wins smart metering project in Madhya Pradesh:-

https://energetica-india.net/news/intellismart-infrastructure-wins-smart-metering-project-in-madhya-pradesh

Good morning gizmo and all,

Just following up on your heads-up yesterday, on the new IntelliSmart/Madhya Pradesh smart meter project, which covers 13 districts and Includes Indore. Which as you probably know, CyanConnode have had some success there.

CyanConnode have also had other orders in Madhya Pradesh, from MonteCarlo, one of which was originally placed by the Madhya Pradesh utility, MPPKVVCL, also mentioned in the new IntelliSmart report.

Thanks again for the original heads-up gizmo, it was much appreciated.

Good Luck gizmo.

LTI.

Good afternoon all,

The Convertible Loan Note received by CyanConnode from Smart Sustainability Solutions, on 7th November, 2025, to Support AMISP Tenders, was not the same wording to the two previous Loan Notes received by CyanConnode, also from Smart Sustainability Solutions on 20th May, 2025 and 21st July, 2025 totalling $15m, in that the " Redemption " wording is different on the 2 x $7.5m Loan Notes, in comparison to the $5.25m Loan Note to Support AMISP Tenders.

The difference being, that the $5.25m Loan Note to Support AMISP Tenders, has a Redemption date of " .....between the date of the Agreement and 60 months from the date of issuance."

The 2 x $7.5m Loan Notes have a Redemption of " ....... in full at any time between 36 months and 60 months, from the date of issuance."

The Conversion details are the same in each of the 3 Loan Notes, from what I can see.

The way I have read it, is that the Loans are Smart Sustainability Solutions ( Esyasofts ) position at the moment. But whether or not that converts into any leverage, until the Redemption/Conversion time-lines, come into effect, is another matter.

Good Luck all.

LTI.

...... Madhya Pradesh.

Good morning gizmo and thank you for the heads-up on the IntelliSmart/Madhya Pradesh project, it was appreciated. And we will have to wait and see where the smart meter contract eventually filters down too.

Good Luck gizmo.

LTI.

Good afternoon all,

MonteCarlo and Partners have installed over 1m+ smart meters, within 2 of their smart meter projects during April 2026, with IntelliSmart and Partners installing approximately 143k+, within 5 of their smart metering projects. Genus and Partners installed approximately 522k+ within 10 of their smart meter projects, during the same period.

Steady progress is being made, I feel, within the overall NSGM smart meter projects, with just over 40%, of the smart meters already Awarded, having now been installed.

Circa 73m+ smart meters, have still to be Awarded, from the Sanctioned pot.

Good Luck all.

LTI.

.....was on 15th April, 2026, confirming that a total of 63,719,756 smart meters have been installed so far, under the NSGM smart meter project, with approximately 2 million+ being installed during April 2026, so far.

https://nsgm.gov.in/en/sm-stats-all

Good morning all,

The Goa smart meter project involving CyanConnode/DigiSmart, has progressed their smart meter installations by 1,973, bringing the overall installed total to 5,676, for the early stages of the project. DT Metering installations have also increased by 65, bringing the overall DT Metering installations to 2,168.

Good Luck all.

LTI.

....... from the post:-

" 1,200,000+ smart meters communicating on a single HES."

" The strength of the Omnimesh platform, demonstrated in Jabalpur, India, as we continue to scale with consistency."

Good afternoon all,

The Jabalpur smart meter project, in Madhya Pradesh, looks like it was the first order that CyanConnode received from MonteCarlo Limited. Which potentially means that the installation phase of the smart meter project, has been completed.

The other earlier, smart meter projects that CyanConnode were involved with, in Madhya Pradesh, were for MPWZ, in Indore.

Good Luck all.

LTI.

Good morning gizmo,

Just to clarify, is the " ...... amendment introduced April 1st ..... ", within the Directors Talk Interview released on April 10th, 2026?

LTI.

.......... has posted on x.com, that " CyanConnode's platform now supports 1.2 million smart meters on a single HES, in Jabalpur ":-

https://x.com/CyanConnode_Ind/status/2044744237007470781

Is this what you are referring to, gizmo and thank you for the heads-up. It is appreciated.

Very impressive, on a single HES.

Good Luck gizmo.

LTI.