PEPPERMINT INNOVATION LIMITED — Capital/Financing Update 2021

Jun 21, 2021

22 June 2021

ASX ANNOUNCEMENT

Company Announcements Office Australian Securities Exchange Limited

Peppermint signs cash deposit acceptance agreement with ECPay

• Peppermint signs cash deposit acceptance agreement with Electronic Commerce Payments Inc. (ECPay)

• ECPay is the biggest third-party electronic payment service provider in the Philippines, with access to more than 13,000+ partner outlets for cash-in services

• Agreement dramatically expands cash-in services for bizmoto agents nationwide, allowing 55,000+ bizmoto agents to physically cash-in money and instantly top-up their mobile wallets at any one of ECPay's partner outlets nationwide

• Implementation planning has commenced with a target 'go live' date in Q3 2021

PERTH, AUSTRALIA, 22 JUNE 2021: Peppermint Innovation Ltd ( ASX:PIL ) (“ Peppermint ” or “ the Company ”) has signed a significant cash deposit acceptance agreement with the Philippines biggest third-party electronic payment provider, Electronic Commerce payments, Inc (“ ECPay ”).

The agreement will allow any of bizmoto’s 55,000 plus registered bizmoto agents to physically cashin money at any of ECPay's partner outlets and stores nationwide, and instantly top-up their mobile wallets – dramatically expanding the number of cash-in venues for bizmoto agents nationwide.

ECPay has more than 13,000 partner outlets and stores, including retail chains such as 7-Eleven, San Mig Food Avenue and select Petron stations, Prince Warehouse, LCC Malls, NCCC Supermarkets, RD Pawnshop, H Lhullier and Global Access.

Essentially, a bizmoto agent can go into any ECPay store or partner outlet, elect to pay bizmoto to topup their mobile wallet and their cash-in funds will instantly be credited to their bizmoto wallet. bizmoto agents can cash-in a minimum of 300 pesos and up to a maximum of 10,000 pesos per transaction.

The ECPay deal follows two recent cash-in service agreements signed with Cebuana Lhuillier and the Bank of the Philippine Islands.

Peppermint does not earn direct revenue from the ECPay agreement but will earn a system fee for every transaction that is made across the bizmoto platform. The system fee is not set and varies depending on the trading exchange used. The system fee earned by the Company varies from a flat fee basis to a percentage of the transaction value. At present, Peppermint earns up to 6% of the transaction value on most transactions across the bizmoto platform.

The agreement is for a two-year term (24 months) and then renews automatically from year to year unless either party gives 30 days’ notice to renew.

Implementation planning has commenced with a target 'go-live' date in Q3, 2021.

Peppermint Innovation's Managing Director and CEO Chris Kain said: “Our team has been working incredibly hard to create and provide cash-in mechanisms and locations for our 55,000+ bizmoto agents. By providing bizmoto agents convenient and accessible cash-in options we aim to drive transactions across the bizmoto platform and utilisation of the bizmoto ecosystem.

"This agreement with ECPay dramatically expands the number of cash-in locations nationwide that we’re now able to provide.

“Any bizmoto agent located from Luzon to Visayas and down to Mindanao can now physically go to an ECPay point in any one of 80+ provinces in the Philippines to cash-in and top-up their mobile wallet.

“In addition, bizmoto will be branded via 7-Eleven in-store CLiQQ kiosks that will assist agents with the process of cashing-in and topping-up their wallet. These 7-Eleven stores are open 24 hours a day, seven days a week, 365 days a year - and there are more than 1,000 7-Eleven stores located in metropolitan Manila alone and over 2,600 across the Philippines, so the opportunity to cash-in and top-up is quick and easily accessible.

“Our goal has always been to integrate our bizmoto platform into the established Philippines payments industry and the ECPay agreement is a massive ‘brick in the road’ as we build out our bizmoto ecosystem.”

bizmoto will be branded via 7-Eleven in-store CLiQQ kiosks .

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About Electronic Commerce Payments Inc. (ECPay)

ECPay is the biggest third-party electronic payment service provider in the Philippines with more than 350 biller partners. ECPay’s multi-payment platform payment infrastructure operates as a secure electronic depot for Electronic Loading, Bill Payments, Airline Ticket Payments, Cash-in Service and Online Shopping Transaction Payments. ECPay has a nationwide merchant network of more than 13,000 plus sites located in convenience and retail stores, service stations, supermarkets, department stores, malls, pawnshops and remittance centres.

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.