Contract award in Denmark

Journeo plc (AIM: JNEO) a leading provider of information systems and technical services to transport operators and local authorities, is pleased to announce that its Danish subsidiary, Journeo AS, has been awarded a contract worth a minimum of £1.2 million with Umove, Denmark's largest privately owned public transport operator.

This contract follows Umove's own award of a minimum 12-year public transport contract with Trafikselskabet Midttrafik Denmark (TMD), the agency responsible for buses in the Central Jutland region of Denmark.

Under this contract, Journeo will deliver a wide range of its Intelligent Transport Systems and services on approximately 100 buses including passenger counting, real time information, fleet management and infotainment software, voice-over IP communications and AI-powered driver awareness system.

Engineering and installation work worth approximately £0.8m will start later this year prior to the buses entering revenue service in June 2026. The software licenses and recurring monthly SaaS and SLA revenues are expected to generate a further £0.4m during the first three years. Thereafter, Journeo is well-positioned to generate additional recurring SaaS revenues throughout the remaining period of Umove's contract with TMD.

Umove was founded in 2013 and has since grown to become Denmark's largest privately owned public transport operator with 900 buses and 2,000 employees.

Russ Singleton, Chief Executive Journeo said: "I am delighted that Umove have selected our technology, software and services for the electric buses that will operate in the central region of Jutland. This award builds on the existing relationship with Umove where our Danish team already provide similar services on over 500 Umove vehicles".

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