PEPPERMINT INNOVATION LIMITED — Capital/Financing Update 2021

Jul 28, 2021

ASX ANNOUNCEMENT 29 JULY 2021

Company Announcements Office Australian Securities Exchange Limited

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Peppermint to offer non-bank bizmoto micro-enterprise loans

• Peppermint awarded finance licence by Philippines' Securities Exchange Commission

• bizmoto mobile App platform will offer alternative non-bank micro-enterprise loans - branded as bizmoPay

• Initial 3-month pilot program to integrate bizmoPay into bizmoto mobile App

• Micro-enterprise loans will then be available to qualified bizmoto agents, registered bizmoto network members and enterprise platform partners

• bizmoPay offer will promote wider adoption of bizmoto services and drive the use of the bizmoto ecosystem

PERTH, AUSTRALIA, 29 JULY 2021: Peppermint Innovation Ltd ( ASX: PIL ) (“ Peppermint ” or “ the Company ”) today announced the Securities Exchange Commission in the Philippines has granted the Company a financial lending licence, allowing it to offer alternative non-bank micro-enterprise loans to qualified bizmoto agents, registered bizmoto network members and enterprise platform partners.

The financial lending service - branded bizmoPay - fully complements the commercialisation of Peppermint's proprietary technology platform which targets four key business sectors - mobile payments, eCommerce, delivery and logistics and mobile financial services.

A three-month pilot program will be rolled out to select bizmoto agents to ensure the back end of the bizmoPay system is fully integrated with the existing bizmoto platform and the application, approval and receival process is seamless.

Once the micro-enterprise loan service is operating seamlessly it will be made available to all 55,000+ bizmoto agents and every registered bizmoto network member who qualifies and undertakes to promote the wider adoption of bizmoto services and drives the use of the wider bizmoto ecosystem.

Funds to support the initial roll-out of bizmoPay's operations were allocated earlier this year as part of the Company's successful $2.5 million placement.

Alternative non-bank lending markets are growing rapidly in the Philippines where, according to the Bangko Sentral ng Pilipinas (the Central Bank of the Philippines), more than 70% of the adult population is still unbanked or underbanked.

Peppermint Innovation's Managing Director and CEO Chris Kain said: "The award of our finance lending licence is a significant milestone in the Company's strategy to provide an alternative non-bank micro-enterprise lending platform to the people of the Philippines.

"We are currently witnessing widespread mobile internet usage in the Philippines, with almost 86% of the population using internet via their mobile devices. We are also witnessing a growing number of Filipinos that are ready to access alternative non-bank finance through mobile phone App lenders.

"Our bizmoPay service will provide our 55,000+ registered bizmoto agents, network members and enterprise platform partners with a safe and seamless means of accessing micro loans to grow their individual enterprises without having to access a recognised bank.

"This is just further confirmation of Peppermint's commitment to delivering an innovative technology solution to facilitate financial inclusion to the people of the Philippines, while also creating an opportunity for Filipinos to build a micro-enterprise and earn a living utilising our bizmoto App."

ENDS

This ASX announcement has been approved by Peppermint Innovation Limited's Board of Directors and authorised for release .

For more information, please contact:

Chris Kain Managing Director & CEO Peppermint Innovation Limited E: info@pepltd.com.au

About Peppermint Innovation Ltd

Peppermint Innovation is a FinTech company focused on the commercialisation and continued development of the Peppermint Platform, a mobile banking, payments and remittance, delivery and logistics, ecommerce, and finance services technology to service the Developing World. Peppermint technology currently powers a white label mobile app banking platform and the bizmoto micro enterprise platform in the Philippines.