YOJEE LIMITED — Interim / Quarterly Report 2021

Jan 27, 2021

28 January 2021

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Yojee December Quarter FY2021 Activity Report Continued Cash Growth and Near Term Projects to Go Live

HIGHLIGHTS

• Key growth metrics show strong progress with new enterprise expansion orders received in the quarter (1) and new countries go live in the quarter and transactional billing commenced post quarter end (3)

• Total projects generating revenues at the end of the quarter (4)

• Enterprise Countries heading towards go-live (4)

• Continuation of strong growth in Cash Receipts from Customers of 18% to AU$235k in the December ended quarter and Revenues of AU$204k

• Strong cash runway with AU$21.1m at bank at 31 December 2020 with strong revenue growth expected off the back of recent go-lives

Yojee Limited ( Yojee or the Company ) (ASX: YOJ ), a cloud-based (SaaS) logistics Platform that seamlessly and uniquely manages, tracks and optimises freight movements along the entire logistics chain, is pleased to provide commentary regarding its activities during the December ended quarter, Q2 FY2021.

OPERATIONS AND GROWTH

The implementation schedule rollout of the Yojee Platform with existing Enterprise Clients [3] continued as planned during the quarter.

• Following signing of a new enterprise expansion order during the quarter, the team has been busy implementing and configuring Yojee’s Platform.

• The number of Enterprise Countries signed up to operate the Yojee Platform at the end of the December quarter total 8, of which 4 are revenue generating, coming from three global top 10 freight forwarders.

• 3 Enterprise Countries went live into a billing phase late in the quarter from a single new Enterprise Client with transactional billing commencing post quarter end in January (announced 22 January 2021).

• ● 4 Enterprise Countries are moving close to go-live from two Enterprise Clients.

• An expansion order was received from an existing Enterprise Client to deploy Yojee’s Platform in Indonesia during the quarter commencing revenue generation in the March Quarter.

Enterprise Client rollout – summary by country[2 ]

(‘brackets +’ = of which added or progressed in status in the reporting period)

	Enterprise Countries Signed	Enterprise Hub or ‘Projects’ Signed	Undergoing Platform Implementation	Live and Transacting
Total	8 (+1)	8 (+1)	4 (+1)	4 (+3)

2 ASX release references

Announcement 22 January 2021

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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Announcement 16 December 2020

Announcement 3 September 2020 Announcement 24 August 2020 Announcement 18 May 2020

Pipeline: Yojee has a strong pipeline of new enterprise countries and new enterprise hubs under discussion from existing Enterprise Clients. In addition, Yojee is in advanced discussions with potential new Enterprise Clients.

Definitions [3]

Enterprise Countries - The total number of countries where an enterprise is using Yojee’s subscription based recurring revenue Platform. For example, if two Enterprise Clients are using the Yojee Platform in the same country, this would aggregate to two Enterprise Countries.

Enterprise Client – Is defined as a large client with operations spanning across multiple countries.

Enterprise Hubs or ‘Project’ - A unique Yojee software account deployed within an enterprise. This could be an account specific to a project, an account specific to a customer or an account specific to a location or a mixture of these. For example, if two Enterprise Clients are each operating two hubs with the Yojee Platform, this would aggregate to four enterprise hubs.

Yojee measures operational growth by the number of Enterprise Countries and hubs it has deployed its Platform into.

Transactional volume: The Yojee Platform processed over 1.2m transactions during the December quarter with key countries experiencing unprecedented weather events (typhoons and mass floods) and Covid related lockdowns across peak months, affecting supply chains, especially in the Philippines. It is expected that online businesses will offer promotions and aggressively market in early calendar 2021 to make up for the lower than expected volumes.

The Platform has seen a ramping up of activity following a successful implementation and go-live of the Yojee Platform in the Philippines in late June 2020. Transactions are measured in ‘planned deliveries’[3] , which is an approximate measure for Yojee earning a variable fee depending on the delivery type (containers, pallets or parcels).

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3 Planned Deliveries refer to pre-financially audited transaction fee data which describes Platform usage for deliveries (containers, pallets or parcels).

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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Yojee continues to focus on developing its underlying technology capability to provide supply chains with end to end accountability, visibility and control, along with its global partnering companies. The application of blockchain specific technology is not integral to Yojee’s technology development plans.

MAJOR CONTRACTS UPDATE

Indonesia (announced 16 December 2020): During the quarter, a new 3 year agreement was signed with an existing enterprise client in Indonesia, under standard commercial terms. The client seeks to standardise and further benefit from Yojee’s unique solution that scales globally and supports multiple languages.

The new Indonesia deployment will be initially focused on containers. Data last reported in December 2019 shows Indonesia moved 14.8m TEU (twenty-foot-equivalent unit containers) (Reference – CEICdata), with year on year growth expected. Indonesia supports a population base of over 250 million people. Yojee expects the project to commence revenue generation in under 45 days from signing.

YOJEE PLATFORM ADOPTION (SMEs)

During the quarter, the Company has continued to have success in attracting and signing a range of small and medium enterprises across the Asia Pacific region. In a space that covers companies with a small number of trucks relative to hundreds of millions in revenue, the Company is having success in signing, and advanced discussions with, an existing customer base.

Additionally, a number of subcontractor logistics companies are being onboarded through Yojee’s existing enterprise clients building out the regional Yojee User Network. This has commenced live operations and will enhance the product from a vast pool of users and create an even stronger velocity of new clients and increased stickiness within the Platform and the ecosystem it creates.

FINANCIAL RESULTS[4]

Yojee achieved strong growth in Cash Receipts from Customers for the December ended quarter (Q2 FY201), of 18% to AU$235k compared to AU$198k in the prior quarter (Q1 FY2021). Revenues from Ordinary Activities (Trade) declined 6% to AU$204k compared to the prior quarter.

Revenues were negatively impacted by unprecedented weather events and Covid related lockdowns, as mentioned earlier. At this point Yojee currently generates a material portion of its variable revenue from the Philippines (eCommerce) however this changed late in the quarter after multiple go-lives. The strengthening of the AU$ over the US$ currency negatively impacted revenue by circa 2% on average over the prior quarter (Yojee bills approximately 75% of clients in US$).

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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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4 Unaudited.

OUTLOOK

Yojee Managing Director Ed Clarke said , “We made great progress with multiple go-lives and implementing expansion orders during the quarter and in January. Importantly, we also received a further expansion order from our existing enterprise client base. The strong position we are in enables long term growth, through the key regional and global master services agreements already in place and their associated opportunities, and to transform global supply chains.

We are in ongoing advanced discussions with potential new enterprise clients and are seeing strong engagement from domestic leaders and SME operations who act as operators and subcontractors, a role critical for the success of all supply chains. This is an ongoing process and we expect to reap tangible benefits from our evolving relationships with these groups as we grow our presence in the local markets around the region.”

YOJEE IN THE COVID ENVIRONMENT

The Covid era has presented Yojee with an opportunity to bring solutions to prospective clients who are looking to rapidly digitise in order to support remote teams and meet the requirements of home and touchless delivery in the booming eCommerce sector and the now more digitally demanding B2B sector. Predominantly there has been great opportunity and volume pressure on supply chains making technology even more important.

YOJEE TECHNOLOGY PLATFORM DEVELOPMENTS

Yojee continues to strengthen the capability of its Platform. The company has continued to invest in areas such as route optimisation, unique network and subcontractor capabilities and additional IP generating projects it will share with the market at the appropriate time, focused on further improving the experience and benefits our clients experience from using our platform.

CORPORATE

Cash position: Yojee maintains a strong funding position and cash runway of AU$21.1m cash at bank (31 December 2020).

Yojee enters S&P All Technology Index: Notification was received of inclusion in the S&P/ASX All Technology Index from 21 December 2020. Read the notification here.

Annual General Meeting: Yojee held its FY2020 AGM on 27 November 2020. All resolutions were passed with strong support from shareholders. View the AGM investor presentation here.

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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Related party payments: As required by ASX Listing Rules, Yojee notes that the amount disclosed in the Appendix 4C under Section 6, Payments to related parties of the entity and their associates, relates solely to the payments during the quarter of salaries and wages and performance based remuneration to members of the Board of Directors amounting to AU$172k.

Operating expenditure: Expenditure in the December ended quarter relating to the ongoing roll-out of the Yojee Platform amounted to cash outflows of AU$2.34m (Section 1.2, Appendix 4C), resulting in a Net Cash from Operating Activities outflow of AU$1.05k (Section 1.9, Appendix 4C). Cash outflows related to ongoing operating expenditures to run business operations which include the key items of: Product manufacturing and operating costs, Advertising and marketing, Staff costs and Administration and corporate costs.

This announcement is authorised by the Board of Yojee Limited.

-ENDS-

For Investor and media enquiries, please contact:

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

About Yojee Limited (ASX: YOJ). Yojee is a cloud-based (SaaS) logistics Platform that seamlessly and uniquely manages, tracks and optimises freight movements along the entire logistics chain, from sender to end customer, across borders and between logistics providers (land, sea, air), with subcontractors and for multi-leg journeys. Rarely is a single carrier servicing an entire goods journey from sender to end customer, or exclusively using one type of transportation method. Yojee ensures 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 downstream 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. Yojee continues to develop its visibility, accountability and control solutions across the supply chain. 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 is 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 top 10 global freight forwarders operating in the region.

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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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;

(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

Rule 4.7B

Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

Name of entity

YOJEE LIMITED ABN 52 143 416 531

Quarter ended (“current quarter”) 31 December 2020

Consolidated statement of cash flows	Current quarter $A’000	Year to date (6 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) research and development (b) product manufacturing and operating costs (c) advertising and marketing (d) leased assets (e) staff costs (f) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Government grants and tax incentives 1.8 Other (provide details if material) 1.9 Net cash from / (used in) operating activities	235 (20) (260) (292) (3) (174) (503) - 29 - - 30 (94)	433 (20) (447) (589) (7) (327) (952) - 34 - - 81 (106)
	(1,052)	(1,900)
2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) businesses (c) property, plant and equipment (d) investments (e) intellectual property (f) other non-current assets	- - (15) - (371) -	- - (18) - (646) -

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter $A’000	Year to date (6 months) $A’000
2.2 Proceeds from disposal of: (a) entities (b) businesses (c) property, plant and equipment (d) investments (e) intellectual property (f) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other (provide details if material) 2.6 Net cash from / (used in) investing activities		- - - - - - - - -	- - - - - - - - -
		(386)	(664)
3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 3.3 Proceeds from exercise of options 3.4 Transaction costs related to issues of equity securities or convertible debt securities 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (provide details if material) 3.10 Net cash from / (used in) financing activities		20,000 - 200 (1,000) - (2) - - -	20,000 - 488 (1,000) - (48) (2) - -
		19,198	19,438
4. 4.1 4.2 4.3	Net increase / (decrease) in cash and cash equivalents for the period Cash and cash equivalents at beginning of period Net cash from / (used in) operating activities (item 1.9 above) Net cash from / (used in) investing activities (item 2.6 above)	3,442 (1,052) (386)	4,317 (1,900) (664)

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter $A’000	Year to date (6 months) $A’000
4.4 4.5 4.6	Net cash from / (used in) financing activities (item 3.10 above) Effect of movement in exchange rates on cash held Cash and cash equivalents at end of period	19,198 (60)	19,438 (49)
		21,142	21,142
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts		Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)		21,142 - - -	3,442 - - -
		21,142	3,442
6. Payments to related parties of the entity and their associates			Current quarter $A'000
6.1 Aggregate amount of payments to related parties and their associates included in item 1 172 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.			172
			-

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

7. 7.1 7.2 7.3 7.4 7.5 7.6	Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 Loan facilities - - Credit standby arrangements - - Other (please specify) - - Total financing facilities - - Unused financing facilities available at quarter end - Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000
		-	-
		-	-
		-	-
		-	-
	N/A

8.	Estimated cash available for future operating activities	$A’000
8.1 8.2 8.3 8.4 8.5 8.6	Net cash from / (used in) operating activities (item 1.9) (1,052) Cash and cash equivalents at quarter end (item 4.6) 21,142 Unused finance facilities available at quarter end (item 7.5) - Total available funding (item 8.2 + item 8.3) 21,142 Estimated quarters of funding available (item 8.4 divided by item 8.1) 20.1 Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5. If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?	(1,052) 21,142 -
		21,142
	Answer: Not applicable
	8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
	Answer: Not applicable
	8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?
	Answer: Not applicable
	Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered.

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: ................28.01.21.....................................................

Authorised by: .............By the Board.................................................

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 4C (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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