SG Fleet and Zoomo Announce Partnership to Put More EVs in Commercial Fleets

The partnership will enable Zoomo to electrify fleets via SG Fleet's comprehensive network of customers in new segments,such as parcel delivery and inner-city logistics

It will also mark the beginning of the development of a novated leasing program for light electric vehicles

SYDNEY,July 12,2022 --Zoomo,the world leader for light electric last-mile delivery vehicles,and SG Fleet (ASX: SGF),Australia's leading provider of integrated mobility solutions,announced the benefits and business opportunities that will be made available through their partnership. Today's announcement supports Zoomo's mission to put more light electric vehicles on our roads with the support of SG Fleet's expansive network and industry expertise.

Zoomo's recent USD $20 million addition to its Series B funding round saw SG Fleet join as a new strategic investor. Both Zoomo and SG Fleet share a similar vision of providing efficient and sustainable vehicles to help individuals and businesses reduce the impact of their emissions on the environment.

Customer conversations regarding light electric vehicles are increasing as organisations explore different mobility options. This trend underscores the business opportunity for sustainable vehicles in fleets.

The partnership will see a number of beneficial initiatives implemented across Australia and the United Kingdom.

Expanded Customer Network and Offering

The partnership with Zoomo and SG Fleet will enable fleets to expand and electrify in the parcel delivery segment.

Specifically,Zoomo and SG Fleet are partnering on a go-to-market strategy that will see Zoomo e-bikes offered to SG Fleet's existing customer base to further broaden its range of electric solutions. This is particularly appealing to customers seeking more sustainable,commercially viable solutions for increasingly critical last-mile deliveries.

Furthermore,the partnership offers collaborative R&D opportunities for both parties. Zoomo will gain insights into fleet management knowledge and processes,while SG Fleet will benefit from Zoomo's expertise in e-bike management and access to their network of maintenance suppliers.

With over 30 years of industry-leading experience,SG Fleet boasts an impressive customer base,including Government,Corporate and University Campus customers.

Novated Leasing

Through the partnership,SG Fleet will enable Zoomo to offer its fleet of e-bikes via novated leasing or salary packaging schemes. These financial arrangements deduct lease payments for a vehicle from pre-tax salaries to provide a significant tax benefit to employees of participating companies.

By entering this highly attractive market,Zoomo further makes e-bikes more accessible to all.

Robbie Blau,CEO,SG Fleet,said: "This is an important investment for SG Fleet. We're excited to work collaboratively with Zoomo in this arena that will allow us to deliver light electric vehicles as a viable,sustainable mobility alternative to enhance our customers' fleets."

Mina Nada,Co-Founder and CEO,Zoomo,said:"We are proud to partner with a leading Australian company like SG Fleet to help consumers and enterprises reduce the environmental impact of their transport.

"Light electric vehicles are the heart of our business and offer transformative growth. Our expertise in this space builds a strong platform for SG Fleet's customer offering. We see immense potential in offering SG Fleet's customers access to cleaner,more commercially viable solutions for last-mile delivery."

Lincoln De Kalb,Group Product Development Manager,Future Mobility,said: "Light electric vehicles are another tool companies can use on their path to reducing their transport carbon emissions. It doesn't always make sense to use a 1.5t vehicle for a particular journey if other cheaper and less carbon-intensive alternatives are available,such as e-bikes."

About Zoomo

Zoomo is a full-service utility micromobility platform founded by Mina Nada and Michael Johnson,with the mission of turning the world's fleets electric using e-bikes. Zoomo's vertically integrated platform encompasses custom heavy duty e-bikes,a physical servicing and maintenance network,a software platform for efficient vehicle management,and a finance offering. Zoomo currently operates in Australia,the United States,Canada,the United Kingdom and Europe.

About SG Fleet

SG Fleet Group Limited is a leading provider of integrated mobility solutions,including fleet management,vehicle leasing and salary packaging services. SG Fleet has a presence across Australia,as well as in New Zealand and the United Kingdom. The company employs approximately 1,100 staff and has over 250,000 vehicles under management. SG Fleet listed on the Australian Securities Exchange in March 2014.