YOJEE LIMITED — Capital/Financing Update 2021

May 24, 2021

25 May 2021

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Business Update - Yojee Signs Expansion Agreements with Existing Enterprise Client into Key New Countries to now cover 50% of Region

HIGHLIGHTS

• Expansion agreement signed from an existing Enterprise Client clearing the way for deployment of Yojee’s Platform in Indochina (Vietnam, Cambodia, Laos), adding 3 further countries in APAC, following success in rolling-out across 4 existing countries, all of which are new to Yojee.

• Significant additional transactional volume now addressable for Yojee, with the Vietnam market alone accounting for 13,700,000 total containers a year (TEU) - some 50% greater than Australia.

• Reaffirms embedded growth roll-out opportunity into 126 Logistics Hubs in APAC with existing Enterprise Clients where countries are expected to include multiple hubs.

• A cash balance of A$19.8m (31 March 2021) providing substantial runway to grow the business.

Yojee Limited (Yojee or the Company) (ASX: YOJ) , is a cloud-based software as a service (SaaS) logistics platform that facilitates the flow of freight movements into a single ecosystem, making the complex process of managing land transport simple and accessible to all players whilst reducing carbon emissions for a greener planet.

Yojee is pleased to provide a business update on progress made towards its embedded growth opportunity to roll-out its logistics Platform into 126 Logistics Hubs in APAC over the next 3 years across 14 target countries with existing global Enterprise Clients operating in the region where countries are expected to include multiple hubs.

The Company can now deliver its Platform into a further 3 key countries in Indochina (Vietnam, Cambodia, Laos) in the APAC region following receiving expansion orders from an existing Enterprise Client, to expand beyond this foundational group of countries and initial solution (covering Thailand, Singapore and Malaysia).

The Company has now opened up to significant growth in addressable transactions through an agreement continuing over the mid to long term. The Vietnam container market alone accounts for 13,700,000 movements per year (TEU), some 50% greater than Australia[1/2] . Additionally, significant annual organic growth is expected to be capturable across all countries and end customer solutions as markets and uptake grows.

The agreement will cover major parts of the client’s operations including container movements, distribution, warehousing logistics and e-Commerce. It is expected that implementations will commence within weeks with progress of hub implementations and transactional volume processed reported in Quarterly reports.

Yojee charges a monthly subscription fee to its Platform per hub and a variable per-transaction fee (goods movement) which is broadly in line with Yojee’s disclosed price guide (ASX announcement: 18 June 2020).

In Yojee’s view, due to the variability and difficulty in estimating country expansion roll-out and transactional volumes, subscription fees and variable per-transaction fees are not financially material at this stage.

Suite 9, 330 Churchill Avenue, Subiaco WA 6008 Ι PO Box 866, Subiaco WA 6904

P + 61 8 6489 1600 Ι F + 61 8 6489 1601 Ι ABN 52 143 416 531

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Logistics Hubs roll-out summary – Yojee Platform[3 ]

	Hubs undergoing implementation	Hubs implemented (revenue generating)	Hubs total	Hubs embedded growth roll-out (over 3 years)	Proven value of a hub (12 month period)
Total	5*	**6 (5%)5 **	11 (9%)3	1263/4	$300k

• Of which 5 hubs in implementation planning and 2 hubs in advanced implementation phase.

Product Update

Optimisation Enhancements

Route Optimisation is a particularly challenging problem and is considered what is called an NP hard problem (No known way to find a solution quickly). This type of computation is extremely complex to solve using standard methods. Traditional solvers will timeout when trying to plan several hundred locations into routes.

Yojee R&D, which is in collaboration with a university, have developed a clustering approach to solve tens of thousands of locations and is showing promising results. This will be particularly beneficial to model large scale problems for bigger enterprise companies.

Managing Director’s update

Yojee Managing Director, Ed Clarke said, “We continue to focus on providing our customers with the best possible user experience and the strongest possible operational results.

I’m very pleased with achieving this significant and business changing next step on the back of a very successful foundational enterprise level implementation for this Enterprise Client. Achieving 50% country penetration in APAC already shows the very achievable embedded geographical growth in our business and this new expansion order gives Yojee access to what is expected to be significant additional transactional volumes.

Digitised and optimised logistics in South East Asia is still relatively nascent, so the mid and late phases of our embedded growth roadmap are expected to move much faster. Taking the time now to work with our clients to ensure the product, processes and people are in place, to develop repeatable and systematic deployments with immediate value recognition, remain our priority.

We look forward to supporting our clients in providing more efficient transport environments, improving on both costs and emissions across rapidly growing markets. We maintain a very strong cash runway of almost $20m to achieve our embedded growth roll-out over the coming 3 years.”

1 Australian container movements (last reported 2019) Ceicdata Indicators for Australian Container port throughput.

2 Vietnam container movements (last reported 2019) Ceicdata Indicators for Vietnam Container port throughput.

3 ASX announcement references – Global Enterprise Client agreements New Enterprise agreement: ASX announcement, 15/5/2019 New Enterprise agreement: ASX announcement, 18/5/2020

Suite 9, 330 Churchill Avenue, Subiaco WA 6008 Ι PO Box 866, Subiaco WA 6904

P + 61 8 6489 1600 Ι F + 61 8 6489 1601 Ι ABN 52 143 416 531

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Existing Enterprise agreement – scope extended: ASX announcement, 24/8/2020 New Enterprise agreement: ASX announcement, 3/9/2020

4 Based on a 3 year embedded growth roll-out with 3 existing contracted global Enterprise Clients across 14 APAC countries (3 hubs per client per country)

5 Percentage of hubs embedded growth roll-out

This announcement is authorised by the Board of Yojee Limited.

-ENDS-

For enquiries, please contact:

Glen Zurcher Investor Relations T: +61 420 249 299 investor@yojee.com

About Yojee Limited (ASX: YOJ). Yojee is a cloud-based software as a service (SaaS) logistics Platform that facilitates the flow of freight movements into a single ecosystem, making the complex process of managing land transport simple and accessible to all players whilst reducing carbon emissions for a greener planet.

Rarely is a single carrier servicing an entire goods journey from sender to end customer, or exclusively using one type of transportation method. Yojee provides connectivity and more efficient planning along the entire journey.

Yojee’s customers are predominantly third-party logistics providers (3PL) and logistics subcontractors (2PL) who benefit from:

1. Managing, Tracking and Auditing goods movements. All job and location data is made easily accessible and can be shared with up and down-stream providers end to end. Customers experience improved delivery windows.

2. Route and schedule optimisation. Tracking data allows 2PL and 3PL operators to generate cost savings through Yojee’s powerful optimisation capability across vehicle selection, utilisation and routing.

Yojee’s solution is flexible and integrates seamlessly through API’s into existing logistics provider systems to access and share key data across part or all of the goods journey. The more segments that use Yojee, the more powerful it becomes. Yojee’s business is focused on Asia and is expanding rapidly. Yojee’s Platform has evolved through recent technological developments in cloud-based computing and information processing capability. Future steps now under development will see Yojee further advance logistics, its connectivity and route optimisation through distributed ledger blockchain technology. This will see smart information access and activation, providing logistics companies and agencies information such as location, size and weight data, and customs requirements that are timely, contextually accessible and highly secure.

Yojee services the logistics market at both the SME and enterprise levels with a focus on APAC and to date has signed multi-year enterprise-level agreements with three global top 10 freight forwarders operating in the region.

Yojee has strong corporate citizenship working with industry to reduce carbon emissions, by removing paper and logistics congestion through digitisation and vastly improving efficiency, speaking to our social license to operate.

FORWARD LOOKING STATEMENT AND DISCLAIMER

Please note that images used in the Company's ASX announcements are to illustrate concepts only and are not intended to represent commercial Yojee images. Certain statements contained in this ASX release, including information as to the future financial or operating performance of the Company and its projects, are forward looking statements. Such forward looking statements:

(a) are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies;

Suite 9, 330 Churchill Avenue, Subiaco WA 6008 Ι PO Box 866, Subiaco WA 6904

P + 61 8 6489 1600 Ι F + 61 8 6489 1601 Ι ABN 52 143 416 531

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(b) involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward looking statements; and

(c) may include, among other things, statements regarding estimates and assumptions in respect of prices, costs, results and capital expenditure, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. The Company disclaims any intent or obligation to publicly update any forward looking statements, whether as a result of new information, future events or results or otherwise. The words “believe”, “expect”, ”contracted”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule”, “planned” and similar expressions identify forward looking statements. All forward looking statements contained in this ASX release are qualified by the foregoing cautionary statements. Recipients are cautioned that forward looking statements are not guarantees of future performance and accordingly recipients are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein.

Suite 9, 330 Churchill Avenue, Subiaco WA 6008 Ι PO Box 866, Subiaco WA 6904 P + 61 8 6489 1600 Ι F + 61 8 6489 1601 Ι ABN 52 143 416 531