ASX, VMT, Vmoto and Nova Machina Entered into Joint Venture in South Africa

Highlights

• Vmoto and Nova Machina have entered into an agreement to establish a new jointly owned operating
  company, Nova Moto (Pty) Ltd in South Africa (“Nova Moto”) (65% Nova Machina, 35% Vmoto).
• Nova Moto will focus on supplying electric motorcycles/mopeds and e-mobility solutions to the
  growing delivery market in South Africa.
• Vmoto and Nova Machina aim to take full advantage of Vmoto’s products/solutions and e-mobility
  experience, and Nova Machina’s local expertise and experience in e-commerce, charging stations, last
  mile deliveries and fleet operations, to the benefit of both parties.
  Global electric vehicle company, Vmoto Limited (ASX: VMT) (“Vmoto”, or the “Company”) is pleased to announce
  that it has entered into an agreement with Nova Machina (www.novamachina.co.za), one of the first companies
  in South Africa focused on e-mobility solutions to last mile deliveries and fleet operations.
  Overview of Nova Machina
  Nova Machina oversees the transition of commercial fleets from internal combustion engines to electric vehicles,
  ensuring that fleets achieve superior performance while significantly reducing their carbon footprint. Nova
  Machina has also been supportive of developing sustainable last mile delivery solutions that integrate electric
  vehicles into existing delivery networks.
• Vmoto’s Managing Director, Mr Charles Chen said, “We are proud to partner with Nova Machina to accelerate the
  transition of petrol vehicles to electric vehicles as Vmoto and Nova Machina share the same vision and belief in
  electric vehicles and a commitment to reduce carbon emissions. Together with Nova Machina, we identified
  opportunities in the South African delivery market and at the initial stage, Nova Moto will conduct some pilot
  projects before scaling. We are confident that with Vmoto and Nova Machina’s strategic advantages and expertise,
  we have a great chance to make a significant impact in the South African delivery market.”
  Nova Machina’s Chief Executive Officer, Ms Karen von Wielligh said, “We are thrilled to announce our partnership
  with Vmoto in establishing Nova Moto. This joint venture represents a significant step forward in our mission to
  drive the transition towards sustainable transportation in South Africa. By combining Vmoto’s cutting-edge electric
  vehicle technology with our local expertise in e-mobility solutions and fleet operations, we are well-positioned to
  make a significant impact in the delivery market. Together, we will launch innovative pilot projects and scale our
  impact, paving the way for a cleaner, more efficient future in transportation.”