Purchase Orders

Journeo plc (AIM: JNEO), a leading provider of information systems and technical services to transport operators and local authorities is pleased to announce it has received purchase orders totalling £1.9m to supply and install important safety systems on existing buses within the Transport for London (TfL) fleet.

As part of TfL's Vision Zero, digital wing mirror Camera Monitor Systems (CMS) have been mandated on all new vehicles entering TfL's c.9,000 vehicle fleet and to date approximately 1,000 Journeo CMS systems have already been supplied.

This current batch of orders is for the first tranche of legacy vehicles to undergo a refurbishment programme and be upgraded to the same safety level as the nation's Capital strives to reach its aim of zero deaths or serious injuries on its road network.

The £1.9m orders are to upgrade approximately 300 buses in total which includes over 200 New Routemasters, spread across some of the largest fleet operators in London, including Stagecoach, Metroline, Arriva and Abellio. Installations will be carried out over the course of this year and Journeo will provide support for these systems for the remainder of the vehicles' operating life in London of between 3 and 7 years.

Journeo expects that further purchase orders will be received during the year to upgrade more of the New Routemaster fleet and anticipates that across 2025 and 2026 fleet operators will upgrade the safety systems on approximately 30% to 50% of their legacy vehicles to comply with TfL Vision Zero.

Journeo will replace the external vehicle wing-mirrors with the UN R46 approved Journeo CMS which utilises an ultra-low profile camera module mounted externally at high level on each side of the vehicle and the installation of high-definition monitors inside the vehicle.

The revenues are included in management's expectations of performance for the current financial year and add to the Company's strong order book, providing further future revenue visibility.

Russ Singleton: "We are delighted to be involved in this first major retrofit program of CMS which includes the iconic New Routemaster bus. These purchase orders are a clear validation of Journeo's CMS which is increasingly being adopted by fleet operators throughout the UK where we have installed over 3,000 systems, including 1,000 in London. The Journeo CMS is optimised and approved for driver use and has a higher performance than reflective mirrors, particularly in poor weather and at night. The ultra-low profile external camera modules are also significantly smaller than the mechanical mirror systems they replace, so are far safer for pedestrians and other road users."

A digital copy of this announcement will be available on the Group's website: www.journeo.com.