• Engaging InFocus Group Holdings Limited as external consultant
• Reviewing current payment processing arrangements
• Developing future technology roadmap to improve scalability and partner relationships

Jayride Group Limited (ASX: JAY), the global online travel marketplace for airport transfers, is pleased to provide an update on a review of the Company's technology and future improvements. As part of this process, Jayride is pleased to announce the engagement of InFocus Group Holdings Limited (ASX:IFG) as an external consultant assisting in the review and future delivery of significant technological improvements for Jayride. The initial engagement will involve a technology audit, including a review of the Company's current payment processing arrangements, commencing initially with how Jayride takes payments on its website. Jayride will also seek advice from IFG on the development of a future technology roadmap. The process is expected to be completed within a month. Jayride selected IFG as the Company's partner due to IFG's significant capabilities and expertise in data analytics and fintech, as well as its lower-cost solution than engaging Australian partners to complete these activities. Pending the success of this initial engagement, further expansion of the engagement between Jayride and IFG will be considered.

Technology improvements will bring two things to Jayride. Firstly, we will strip out manual processing steps that limit our ability to scale and increase internal costs. Secondly, we are looking at how we can be a better partner to our transport suppliers and to our demand-side partners. Making Jayride easier to work with as a partner will improve the rates we can get from suppliers and improve margins. Additionally, we acknowledge that delayed payments to transport suppliers make them less willing to work with us or offer us attractive rates. We are in the early stages of exploring future payment processing technologies that could significantly differentiate Jayride from other ground transportation aggregators.