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1 MARKET UPDATE ANNOUNCEMENT 11 JUNE 2012 HIGHLIGHTS Vmoto continues to increase its global distribution network and exposure into new countries including Brazil and Lebanon Production lines busy as the Company fulfils orders from existing customers ahead of busy June and July months New opportunities arising out of existing countries including Italy, Germany and Malaysia Discussions with distributors into new target countries including India and Indonesia ongoing Vmoto Limited ( Vmoto or the Company ) is pleased to provide the following update on its new market developments and recent major sales activities. NEW MARKET DEVELOPMENTS Europe Slovenia Finland Italy Vmoto s Slovenian distributor, Plan-Net d.o.o, has ordered 17 units of Vmoto s E-Max electric scooter for their dealer network, which they established earlier in Vmoto has supplied 13 test units to Itella (Finland Post) with an additional 150 units of electric scooters expected to be ordered within the next 12 months. Vmoto s Italian distributor, Nemax SRL, has ordered 4 containers (between 36 and 42 units in each container) of Vmoto s E-Max electric scooter for sales to the municipality of Rome, islands in southern Italy and also for general dealer sales. In particular, the Company is encouraged by the news that one single dealer of the Italian distributor of Vmoto has ordered 42 units of Vmoto s E-Max electric scooter alone, showing the scope for expansion as the dealer network expands. Sailpost, the largest privately owned delivery company in Italy, has placed additional orders for Vmoto s electric scooter powered by lithium battery. A B N Ground Floor 3 Richardson Street WEST PERTH WA 6005 Telephone: (61 8) Facsimile: (61-8) ASX CODE: VMT

2 Germany Belgium Croatia Following the completion of successful trials in the Milan pilot, Sailpost is considering purchasing for its depots across Italy. Further orders for Vmoto s electric scooter are expected to be received in September 2012 from Nemax SRL. Vmoto has signed a Memorandum of Understanding with a prestigious international electric scooter group to OEM manufacture a range of their existing electric scooter models. The discussions are ongoing and the Company will advise the market as and when material developments occur or agreement reached. Belgium Post s public tender for electric scooters continues to remain open and in progress. Vmoto s Croatian distributor has ordered 23 units of 110s and 120L models to supply, amongst others, Valamar Hotels & Resorts Group. Middle East Lebanon South America Brazil North America United States Vmoto recently had successful meetings with Rymco in Lebanon with a view to appointing them as Vmoto s exclusive distributor in that country. Rymco, established in 1934, are the exclusive distributor in Lebanon for: Cars: Nissan, Infiniti, Lotus and GMC; 2 wheels: Kawasaki; Trucks: Renault, UD and FAW. It is anticipated that the first container of samples of Vmoto s E-Max electric scooters, Vmoto s petrol scooters and Scartt will be ordered by Rymco in June 2012 as part of the market assessment process. Correios (Brazil Post) has ordered 4 samples of Vmoto s delivery version of electric scooters for further testing and assessment. A pilot project will take place in Belo Horizonte for 60 days before further orders are decided upon. Correios currently has a fleet of 17,000 units of 2 wheel petrol vehicles, with plans to convert at least 30% of its current petrol fleet to electric fleet. A further 10 samples have been ordered by the Company s distributor for trials with other delivery companies including DHL. Vmoto remains the only manufacturer of electric delivery scooters with any penetration of the Brazilian market, albeit on a small scale. Genuine Scooters, the 3rd largest scooter distributor in USA, have stated they will launch Vmoto s electric scooters to the American government, B2B, logistics and delivery markets at the Government Fleet Expo & Conference in Denver, Colorado to be held between 18 and 20 June

3 South East Asia Hong Kong Malaysia Homologation of Vmoto s E-Max 120SD and 120LD have been submitted to the Hong Kong government and Vmoto s agreement with the high profile distributor doing this work in Hong Kong is expected to be signed upon its completion. The Company continues to meet the existing orders from Malaysian customers, as previously announced. Further, Vmoto has recently signed to be the exclusive supplier of electric scooters for Spaceport Malaysia, a multi-billion dollar futuristic space flights, retail and residential development project. The project will consist of two geographical areas: Malacca Space Centre and the Spaceflight Terminal. Spaceport Malaysia will be a green energy zone (GEZ), where only electric and hybrid vehicles will be allowed to be operational within the spaceport area. In addition, each bungalow in the Villa Luna Moon Architecture Bungalows development within Spaceport Malaysia project will be equipped with an electric scooter and a hybrid car. Others Tahiti and Dominican Republic Picture: Artist impression of Spaceport Malaysia ( Vmoto has begun private and government sales on the islands of Tahiti and the Dominican Republic. RECENT MAJOR ACTIVITIES IN RELATION TO CURRENT CUSTOMERS Vmoto is continuously and proactively negotiating with current customers and distributors for additional sales orders as the Company enters its busiest sales season, being June and July, and the Company is busy fulfilling the sales orders received to date. The recent major activities of the Company in relation to its customers include: 3

4 Vmoto delivered 144 units of modified 110SD to Vmoto s Danish s distributor for DAO, the largest newspaper delivery company in Denmark, and is negotiating further sales; Vmoto recently shipped 72 units of OEM manufacture electric scooters to one of Vmoto s largest OEM customers based in United States and expects to ship another 36 units in the next week. The Company also expects to receive the letter of credit from this OEM customer for the 144 units of OEM manufacture electric scooter ordered within the next two weeks; The Company s Belgium distributor has ordered 3 containers (116 units) of its 80L, 120s, 90s, 120L and 120LD models this calendar year, one of which has been delivered, with two in transit; and Vmoto also recently shipped 100 units of its petrol scooter to its distributor in South Korea. The Company is continuing to progress previously announced activities with respect to existing customers and potential new customers, such as Intermurcia (agent for the Spanish postal service) and E.On. Currently in production are two containers of the Company s 90s, 120s and 80L models for E.On Czechoslovakia and one container of the 90s for E.On Sweden. The Company is encouraged by the continued global interest in its electric scooters from major international distributors and businesses, and is confident that it will meet its sales target for financial year ending 30 June The Company will make further announcements as and when any material operational developments occur. OTHER DEVELOPMENTS The Company continues to progress the development of its proposed new business model for a Vmoto dealer distribution network in Europe. The Company is also in discussion with potential new distributors in Israel, Egypt, Slovakia, India, Indonesia and the United Kingdom. Similarly, the Company is continuing with the development of its proposed two new electric scooter models, specifically targeting the Chinese domestic market, with the designs now complete. The two new models consist of: A redevelopment of Vmoto s E-Max 80L electric scooter with a lithium battery, whereby costs will be reduced by approximately 50 percent; and A newly developed electric scooter known as the Green, which is a retro styled scooter powered by a silicone battery. The Company will provide updates on material developments with respect to these and any new activities as and when required. For further information in relation to this announcement, please contact: Charles Chen, Managing Director Olly Cairns, Non-Executive Director

5 About Vmoto Vmoto is a global integrated scooter manufacturing and distribution group with a state-of-the-art production facility situated in Nanjing, China. Vmoto specialises in high quality electric scooters and it has global customers in Europe, North and South America, South East Asia, Australia and New Zealand. 5