£3.5m Framework Agreement

Journeo plc (AIM: JNEO), a leading provider of information systems and technical services to transport operators and local authorities, is pleased to announce a variation to the £10m First Bus UK ("First Bus") framework agreement (the "Variation Agreement") announced on 14 May 2025 which runs for three-years through to March 2028, enabling Journeo to install technology and provide engineering services across the recently acquired bus fleet of First Bus London.

The Variation Agreement is expected to generate an additional £3.5m in revenues, with an option to extend the term by a further two-years through to March 2030.

In February 2025, First Group announced the acquisition of RATP Dev Transit London, which now operates as First Bus London, marking the Group's entrance into bus operations in London. Prior to the acquisition, RATP London had around a 12% market share of bus operations in the UK capital, including a fleet of around 1,000 buses and 90 Transport for London route contracts.

The Variation Agreement comprises the provision of Journeo's latest 5G vehicle gateway allowing a secure connection to the Journeo Portal, Journeo's SaaS solution, which offers operators access to critical video to support rapid incident investigation. Furthermore, Journeo will supply the latest digital CCTV solutions and its digital wing mirror technology on new vehicles entering the fleet and across all vehicles, will offer field service maintenance that is optimised using Journeo's remote condition monitoring capability built into the Journeo EDGE.

Russ Singleton, Chief Executive Officer, commented:

"We are delighted to extend our relationship with First Bus into London and are excited to be part of the journey they are taking as they expand their operations and accelerate towards decarbonised public transport."

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