PEPPERMINT INNOVATION LIMITED — Capital/Financing Update 2021

Apr 13, 2021

13 April 2021

ASX ANNOUNCEMENT

Company Announcements Office Australian Securities Exchange Limited

Additional information regarding agreement with Cebuana Lhuillier

PERTH, AUSTRALIA, 13 APRIL 2021: Peppermint Innovation Ltd ( ASX: PIL ) (“Peppermint” or “ the Company ”) is pleased to provide some additional information in relation to the strategic Merchant Biller Agreement with the Philippines' largest and leading micro-financial services provider, Cebuana Lhuillier (" Cebuana ") announced on 12 April 2021.

The agreement, which allows bizmoto agents to "cash-in" money at any one of Cebuana's 2,500 shop fronts and accredited stories nationwide, will enable agents to 'top-up' their mobile wallets instantly, allowing them the ability to transact with more customers.

The Cebuana Merchant Biller agreement does not earn direct revenue for the Company however (as noted in the 12 April announcement by the Company) Peppermint does earn a system fee every time a bizmoto agent performs a transaction utilising the bizmoto platform. The system fee earnt by the Company varies from a flat fee to a percentage of the transaction value, dependent on what type of transaction is performed. At the present time the Company earns up to 6% of the transaction value on the majority of transactions across the bizmoto platform but it expects this to increase as other bizmoto services become established and more significant.

About Cebuana Lhuillier

Cebuana Lhuillier is the Philippines' leading and largest micro-financial services provider specialising in pawning, remittance, micro-insurance and micro-savings. As of last year, Cebuana Lhuillier had reached more than four million micro savings account holders with over 30 million clients through Its more than 2,500 branches with 20,000 domestic partners and 1.7 million physical and virtual touchpoints. It has a long history in the Philippines dating back to the arrival of Frenchman Henry Lhuillier who opened the first Agencia Cebuana in Cebu in 1953.

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 an Australian company focused on the commercialisation and further development of the Peppermint Platform, a mobile banking, payment and remittance, delivery and logistics, ecommerce and finance technology to service the Philippines market – which was initially designed for banks, agents, associations and microfinance institutions. Peppermint technology currently powers a white label mobile app banking service and the bizmoto micro enterprise platform in the Philippines.