PEPPERMINT INNOVATION LIMITED — Capital/Financing Update 2021

May 19, 2021

20 May 2021

ASX ANNOUNCEMENT

Company Announcements Office Australian Securities Exchange Limited

Peppermint signs payments facilitator agreement with GCash

• Peppermint signs payments facilitator agreement with operator of GCash - G-Exchange Inc.

• bizmoto merchants, bizmoto agents and bizmoGo riders will be enabled to accept payments directly from registered GCash mobile wallet holders

• One in three Filipinos are currently registered as GCash mobile wallet holders, exposing the bizmoto platform to potentially more than 40 million users

• Further development of the bizmoto App will allow GCash customers to seamlessly order goods and services via bizmoto 'Pabili' and have them delivered directly via a bizmoGo rider

PERTH, AUSTRALIA, 20 MAY 2021: Peppermint Innovation Ltd ( ASX: PIL ) (“ Peppermint ” or “ the Company ”) is pleased to announce any Filipino GCash mobile wallet holder will be able to pay for goods and services from the bizmoto platform using their mobile GCash wallet.

The arrangement, which has been made possible by a payments facilitator agreement with the company providing the GCash service, G-Exchange Inc. - has the potential to expose the bizmoto platform and ecosystem of services to more than 40 million registered GCash mobile wallet holders.

Under the agreement, any Filipino with a mobile GCash account can opt to directly pay for goods or services provided by a bizmoto merchant, agent or rider using funds from their GCash mobile wallet. Additionally, when offering a good or service, a bizmoto merchant, agent or bizmoGo rider can accept payment direct from a mobile GCash wallet.

Peppermint does not earn direct revenue from the 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, the Company earns up to 6% of the transaction value on most transactions across the bizmoto platform.

The agreement is for an initial one-year term and renews automatically unless either party gives 60 days’ notice not to renew.

G-Xchange Inc. is a wholly-owned subsidiary of Globe Telecom. It offers GCash, a micro payment service that transforms the mobile phone into a virtual wallet for secure, fast and convenient money transfer. G-Exchange serves customers in the Philippines .

Peppermint Innovation's Managing Director and CEO Chris Kain said: "This agreement is all about making it simple for mobile GCash customers to directly pay for bizmoto goods and services and, just as importantly, allow our bizmoto merchants, agents and bizmoGo riders to directly accept payment from a GCash mobile wallet.

"Given there are currently more than 40 million registered GCash mobile wallet holders, it makes perfect sense that our bizmoto ecosystem accepts and facilitates payments from customers' GCash mobile wallets in a quick and easy fashion.

"Further development of our bizmoto App will incorporate bizmoto 'Pabili' (which translates as "to buy for me" in the local dialect) which will allow GCash mobile wallet holders to not only order goods and services across the bizmoto ecosystem via the app - but they can have it seamlessly delivered to their home or work via our network of bizmoGo riders.

"Our aim is to have all of the necessary technical and system integration complete to enable a first phase 'go-live' date in Q3 of this year.

"Our Company objective has always been to deliver an innovative technology solution to facilitate financial inclusion, micro-business enterprise and consumer convenience to the people of the Philippines - all of which is reinforced through our GCash agreement."

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.