Ann: Response to ASX Price Query, page-2

Further on 27 September 2023 Peppermint announced it had been issued with two vitally important Certifications by the Central Bank of the Philippines (Bangko Sentral ng Pilipinas - "BSP"). Peppermint had been working on the Certifications for some time and they marked an important milestone in Peppermint's strategy to fully leverage our Electronic Money Issuer ("EMI") licence and use it to drive revenue growth via increased transactions across the bizmoto platform. In the announcement our Managing Director noted the Certification facilitated bizmoto's complete and direct interoperability across the Philippines payment landscape, as well as emphasising the potential value of our EMI licenced platform. He also noted a comparison between a Philippines mobile-App based platform with an EMI licence called Coins.ph which was sold in early 2021 for US200 million, while Peppermint had a commercially proven, deployed and growing mobile-App based ecosystem in the Philippines underpinned by a Finance Company Licence and an EMI licence to be then valued at circa AUD$13M on the ASX.