Yojee : Quarterly Activities Report & Appendix 4C - Mar 2022

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28 April 2022

Yojee March Quarter Q3 FY2022 Activity Report

Continued record growth in cash receipts and revenue as recent hub implementations ramp up

HIGHLIGHTS

• ● Continued hub roll out and digital transformation across APAC gathering momentum through client adoption phase, with the Yojee now powering logistics movements across 4 global Enterprise leaders, 100+ leading domestic logistics companies (subcontractor networks) and over 7,000 drivers with trucks and vans across 10 countries, representing incredibly valuable digitally connected supply chains

• ● Record growth: Revenue in Q3 FY2022 up 120% on same quarter prior year and 15% on the prior quarter, Q2 FY2022 to AU$611k; despite seasonality impacts of March Quarter

• ● Cash Receipts were up 52% on the same quarter prior year and up 46% on the prior quarter to $506k

• ● 13 live logistics hubs, up from 11 hubs in the prior quarter (up from 6 live hubs same quarter prior year or +117%), a further 2 hubs are under implementation; live hubs have reached 10% of the embedded growth pathway objective to of 126 hubs with existing 4 global Enterprise clients

• ● Yojee is actively pursuing & progressing advanced stage expansion opportunities with existing global leaders and new enterprises. This includes new countries, and horizontal expansion within new business units of major groups, for example, trucking to last mile.

• ● Connected Warehouse product: In commercial beta phase with multiple enterprise companies expected to participate placing the Company in an exceptional position for further growth across coming quarters and in the longer term

• ● Strong cash runway (AU$13.38m at 31 March 2022) to support hub development

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 reducing carbon emissions for a greener planet. The Company is pleased to provide commentary regarding its activities during the March ended quarter, Q3 FY2022.

OPERATIONS AND GROWTH

The global acceleration of digitisation and digital transformation provide a strong position for Yojee, which although has seen variation in project speeds due to Covid and other factors, is now driven via strong business leader commitment and customer wide focus on the use of technology to drive ESG initiatives, achieve shipper visibility and improve efficiency.

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The Company has already achieved significant roll out and digital transformation across APAC which is gathering momentum through the adoption phase by its existing clients and subcontractor networks, with the Company now powering logistics movements across 4 global leaders, 200 leading domestic logistics companies (subcontractor networks) and over 7,000 drivers across 10 countries.

Roadmap: Yojee's leadership has set a roadmap of unique functionality to drive the logistics industry towards cleaner fuels and electric vehicles, a roadmap which is fair and creates opportunities for growth. We believe this will offer increased profitability for operators and the ability to reduce carbon emissions for reporting for our current and new global and publicly listed customers. We are really excited about developing this part of the business and what it can do for the growth and value of our offering, the community we operate in, and the broader environment.

FINANCIAL RESULTS1

Record growth continued: After ending FY21 with $1.06m trade revenue, Yojee's current run rate of $2.44m (based on March quarter) shows significant growth in Revenues and Cash Receipts which is the result of numerous logistics hubs going live and the onboarding of significant numbers of partner carriers in recent quarters. Revenue (trade) in Q3 FY2022 was up 15% on the prior quarter (Q2 FY2022) to AU$611k and up 120% on the same quarter in the prior year (Q3 FY2022). Cash Receipts were up 46% on prior quarter to $506k and up 52% on the same quartering in the prior year.

The March quarter (16% of annual industry volume) in eCommerce historically represents less than half the December quarter (40% of annual industry volume). Strong seasonality effects were expected in the period2. Yojee's revenue model consists of a combination of monthly subscriptions, transactional revenues and platform implementation fees.

In terms of expenditure, Net Cash from Operating Activities outflows increased 11% to AU$1.4m, a direct result of the Company's continued investment in research and development, execution on expansion hubs and customer success has led to demonstrable efficiency gains in areas such as time to deployment and go live across hubs, and the successful proof of concept with a major enterprise of the Yojee 'Smart Connected Warehouse' product. All of these initiatives open up significant short, mid and long term revenue opportunities to support revenue growth across a 10 year horizon and beyond.

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Hubs undergoing implementation	Hubs implemented (revenue generating)	Hubs total	Hubs embedded growth rollout (over 3 years)
Total (this announcement)	2	13 (10%)2	15 (12%)4	1263
Total (prior quarter)	3	11 (9%)2	14 (11%)4	1263

Current Pipeline, Implementation and Roll-Out3

Yojee's Platform continues to be delivered in line with implementation schedules set out by its base of existing global Enterprise Clients. These clients total 4 which are global top 10 logistics groups. See the end of this announcement for further information and links to prior announcements of contracts signed.

The Company expects expansions in the short term across global leaders in new countries, and horizontal expansion within major groups to new business units and use cases. Additionally, the Company continues to progress discussions with multiple new top global enterprises which provide potential access to substantial freight volumes and market share.

Growth Opportunity and Growth Levers

At the end of the quarter, 13 logistics hubs are live, up from 11 hubs in the prior quarter (up from 6 live hubs in the same quarter prior year or 117%), a further 2 hubs are under implementation. The two new hubs that went live during the quarter are yet to meaningfully contribute revenue.

Live hubs have reached 10% of the embedded growth pathway objective to reach 126 hubs with the existing four global Enterprise clients (see links to client agreements at the end of this announcement). The demonstrable ROI impacts of these roll-outs is helping strengthen the expansion demand across the enterprises.

Yojee is focused on further developing its embedded growth within and beyond its current hubs in APAC with existing Enterprise Clients and is in advanced discussions. Additionally, the Company is having increased success in the Small and Medium Enterprise space.

Hubs Rollout Summary - Yojee Platform

Note: table excludes recently announced expansion contracts which are at a planning stage.

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Yojee Connected Warehouse

Following the launch of 'Yojee Labs' (Labs) in September 2021, a commercial beta program is near to going live with two leading global enterprises with which Yojee is already working with. The 'Connected Warehouse' uses IoT to improve productivity in warehouse operations and is unique in design and is already gaining the interest of a number of leading global logistics groups including new customers not yet on the Yojee Platform. See ASX announcements:1 September 2021 and15 December 2021.A partnership was signed with HERE Technologies to enhance the solution in late December 2021 - seeASXannouncement 29 December 2021.

Yojee Platform

The Yojee Platform continues to achieve strong value add for its Enterprise Clients as demonstrated by improvement of delivery efficiency and strong customer feedback through both formal reviews and statistical surveys to the user base.

Training: Automated onboarding training has been developed to support configuration of Yojee's platform for logistics hub rollout by enterprises and for subcontractors.

Marketing: An online marketing event was held in April by Yojee in partnership with Here Technologies and ABI Research around location intelligence for warehouse operators, attracting almost 500 registrants.

MANAGING DIRECTOR'S UPDATE AND OUTLOOK

Yojee Managing Director Ed Clarke said, "The Company is pleased to again demonstrate its ability to grow its revenue significantly with the quarter up 120% on same quarter in the previous year. We also continued to grow compared to the previous quarter despite the quarter having significant reduction in trading volume due to seasonality as peak season of November and December, with January to March having numerous holidays including Chinese New Year, and consumer activity is slowed, with some figures showing this calendar Q1 is only 50% of the volume of the December quarter.

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As a business we have already showed significant transformation of the region to digital supply chains, with 100+ transport companies and over 7,000 drivers onboarded, trained and part of Yojee's Solution for our four Enterprise clients who are amongst the top 10 world's largest logistics companies.

The above emphasises our success in pursuing our mission, to 'See The World Flow' is well on its way, despite how difficult this feat seemed when we set out. We are moving closer and closer to automating onboarding to more rapidly scale rollouts across the network and move the multiple advanced commercial discussions and a significant pipeline with a number of large enterprises to potentially come onto the network in the near future.

I am confident with the digital footprint and infrastructure we have laid out that we can continue to grow exponentially for many years to come."

CORPORATE

ASX Small and Mid-Cap Conference Presentation (15 March 2022): The presentation can be viewedhere.

Website - we have a new look! Yojee recently launched recently launched a brand new look and feel to Yojee'swebsite giving our stakeholders a better experience to be part of and follow our journey. The new website has been simplified, and content enhanced focused on Yojee's mission to help you "See The World Flow".

Cash position: Yojee maintains a strong funding position and cash runway of AU$13.38m cash at bank (31 March 2021).

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 to members of the Board of Directors amounting to AU$121k.

Operating expenditure: Expenditure in the December ended quarter relating to the ongoing roll-out of the Yojee Platform amounted to cash outflows of AU$1.98m (Section 1.2, Appendix 4C), resulting in a Net Cash from Operating Activities outflow of AU$1.42m (Section 1.9, Appendix 4C). Cash outflows related to

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