Gaussin: €18.8 million turnover and licensing revenue in 2019 against €4 million in 2018 €17.6 million in the order book on 31 December 2019 against €6.4 million on 31 December 2018 en

PRESS RELEASE

Héricourt, 8 January 2020 - 18:00

Gaussin: €18.8 million turnover and licensing revenue in

2019 against €4 million in 2018

€17.6 million in the order book on 31 December 2019

against €6.4 million on 31 December 2018

Gaussin (EURONEXT GROWTH - FR0010342329)has just announced its turnover and licensing revenue for the financial year 20191.

1. Turnover and licensing revenue: €18.8 million

The Gaussin group has achieved consolidated turnover of €7.3 million in the year 2019 (+106%) and €11.5 million as licensing revenue, mainly made up of technology entry fees. The total operating revenue was €18.8 million in 2019 compared to €4.0 million in 2018; it was thus multiplied by 4.7 in 2019.

Operating revenue (€K)1		2019		2018
Logistics turnover		5,842		2,557
Ports turnover		1,466		994
Total turnover		7,308		3,551
Licensing revenue		11,462		400
Total operating revenue		18,770		3,951

Composition of turnover:

• The logistics business,which is organised around full electric clean vehicles (ATM, TSBM and
  MTO ranges), generated turnover of €5.8 million against €2.6 million in 2018, i.e. it grew 128%.
• • ATM FULL ELEC (Automotive Trailer Mover) range dedicated to the movement of semi- trailers on logistics sites: business is continuing to grow, particularly with the delivery of 26 ATM vehicles in 2019, compared with 8 in 2018, mainly for logistics sites, and also for industrial applications as part of an overall order signed in June 2019 for 70 vehicles with the distributor Blyyd.
    In 2019, 13 new names adopted the new vehicle as end users, including Carrefour, Auchan, Kuehne Nagel, Decathlon, Leroy Merlin, Geodis, XPO, CDiscount, Barilla, Royal Canin, Mondial Relay, Colissimo, But, ID Logistic, VIIA and Gerflor for industrial applications.
    Deliveries will pick up more speed this year.

1Data not audited

Page 1 of 6

• • TSBM FULL ELEC (Trailer Swap Body Mover) range dedicated to the movement of trailers,semi-trailers and swap bodies (exchangeable containers) on logistics sites: this is a new vehicle, which is a variant of the ATM developed jointly with major players of logistics, one of which signed a worldwide agreement in June 2019, with the first order under delivery, and Railcare, where final acceptance has been completed.
  • MTO (Made To Order) range, which is the legacy business of the Group, and which has generated deliveries to several customers, particularly in the nuclear and energy industries, includingAreva-Orano,Stoll-Manuloc,Socodei-EDF, Eurostyle, Toyotomi, Cartonneries de Gondardennes, Carrosserie Jaquet and SNF.
• Port activity, which serves operators of major ports across the world with the range of automatic container transport vehicles (AGV PERFORMANCE, AIV REVOLUTION and APM 75T AUTONOME) or with drivers (APM 75T), Power Pack Full Elec batteries and docking stations, generating €1.5 million as turnover during the year, compared with €994 K in 2018 (+47%).

The revenue from this activity was previously entered in the accounts as turnover. The change in business model, which prefers the use of licensing, has led to the entry of such revenue under "Other revenue" from now on.

Licensing revenue:

After the introduction of the licensing strategy in 2018, 2019 was the first full year for the new business model, which generated €11.5 million as revenue in the course of the year. The first licences, with entry fees and royalties on future sales were granted to:

• ST Engineering Land Systems(STELS) to manufacture and market the AGV PERFORMANCE®FULL ELEC Ultra Fast Charge vehicle in Singapore. With a 20 year term, it has enabled STELS to win a contract for the first series of 80 vehicles as part of the project of the Tuas port of PSA Port Singapore Authority.
  On the heels of that success, Gaussin granted eight new licences to STELS in September 2019, including four exclusive licenses for the territories of Saudi Arabia, Thailand, the United Arab Emirates and South Korea and four non-exclusive licenses for the territories of Indonesia, Qatar, the Philippines and Oman.
• thestate-owned corporation QATAR RAILWAYS COMPANY (QRC),relating to its driverless Fleet Management Platform (FMP), for applications in thesemi-privatesector such as the Smart City Lusail project, the 2022 FIFA World Cup, transportation between underground stations and stadiums, and Doha University.

For those two licences, €11.5 million was invoiced in the year 2019. The balance of the licenses and royalties, including a variable share, remains to be invoiced in 2020.

Page 2 of 6

1. A secure development outlook thanks to an order book worth €17.6 million, the ramping up of the licensing business and strategic partnerships

The order book, excluding royalties on future sales on 31 December 2019 has grown to €17.6 M against €6.4 M on 31 December 2018.

ORDER BOOK	On 31/12/2019
	€K	%
LOGISTICS	15,637	89%
PORTS	757	4 %
LICENSING	1,200	7 %
Consolidated order book	17,595	100 %

Licensing business

As part of the licensing agreement over 20 years with STELS that has made it possible to win a contract for the first series of 80 vehicles intended for the port of Singapore, the first AGV PERFORMANCE®FULL ELEC Ultra Fast Charge vehicles ought to be delivered during the first half of 2020.

The call for tenders for the second lot of AGVs is scheduled for 2020 and will enable the Gaussin Group and STELS to bid together once again. This call for tenders is part of the Tuas Mega Port Project, which aims to create the largest port terminal in the world with 2000 to 3000 AGVs in operation.

Development of new vehicles as part of strategic partnerships

1. Partnership with Siemens in an exclusive worldwide agreement over two years
   In 2019, Gaussin and Siemens Logistics entered into a partnership relating to the exclusive distribution by Siemens of AGV solutions from Gaussin designed for the transport of ULD containers and pallets for airports.
   The AAT FULL ELEC Automotive Airport Transporter presented at the InterAirport fair in Munich in 2019 and the AMDT FULL ELEC Automotive Multi-Directional Transporter are two clean vehicles that have resulted from collaboration with Siemens Logistics; they are currently in the tender and test preparation stage in major global air transport hubs.
2. Partnership with Bolloré in a master agreement with preferential right over seven years
   In 2018, Gaussin, Blue Solutions and Bolloré Ports of the Bolloré group entered into two partnership agreements relating to the incorporation of LMP®batteries from Blue Solutions into Gaussin vehicles and the joint development of the APM 75T vehicle designed for container transport in ports. Bolloré Ports operates 23 ports in the world and Gaussin entered into a master agreement with a preferential right over seven years in 2019, with a first order for the Port of Abidjan, which is being delivered.
   In 2019, Gaussin and Bluebus of the Bolloré group also entered into a partnership agreement for the automation of the six-metre Bluebus with the participation of Gaussin, winning the

Page 3 of 6

World Challenge for Self-Driving Transport in the Leading Company Category, Best Energy and Environmental Sustainability.

1. Partnership with Hyperloop TT: exclusive agreement over 10 years
   In October 2019, Gaussin entered into a partnership with the US corporation Hyperloop Transportation Technologies (Hyperloop TT) for the supply of Hyperloop TT AIV (Automotive Intelligent Vehicles) electric driverless vehicles from Gaussin to carry and transfer containers into magnetic levitation trains running in a tube at 1200 km/h.
2. Partnership with ST Engineering: exclusive agreement for the distribution of the Strobo range over 3 years

In November 2019, Gaussin entered into an agreement relating to exclusive distribution of

the Strobo logistics handling solutions range from ST Engineering Land Systems (STELS) in France, Belgium, Switzerland, Russia, Turkey and the Middle East and non-exclusive distribution elsewhere in the European Union, excluding Italy. By offering a range that complements Strobo vehicles and software to its existing customers, Gaussin wishes to extend its product portfolio into "intralogistics".

1. Partnership with ParisSaint-Germain with a preferential right over 2.5 years
   Gaussin and Paris Saint-Germain have entered into a strategic partnership for the supply of full electric driverless vehicles for the transport of people and goods. That long-term understanding includes equipment for all the infrastructure of the Parisian football club, which will inaugurate its training centre in 2022.
2. Vasco partnership
   The purpose of the VASCO project is to develop the first fully automated system operating with a guiding system requiring no infrastructure (no equipment on the ground) to handle containers in port terminals. It also aims to demonstrate the efficiency of the system in actual working conditions.
   A demonstration involving a fleet of fully autonomous all electric AIV Revolution vehicles equipped with the ADV system (Autonomous Driving Vasco) was organised in May 2019 at the Port of Dourges in France. The Research & Development phase of the project is now complete, and the marketing phase has begun. The AIV Revolution has excited great interest from brownfield port operators thanks to the immediate automation allowed by it, without stopping operations and with no infrastructure installations, combined with high operating speed.

Planned purchase of a majority block of Metalliance

The Gaussin group is continuing its exclusive negotiations for the purchase of a majority block of shares, taking its holding in Metalliance to over 95%. At the end of the acquisition, which is subject to the usual legal, regulatory and financial approvals, the business of Metalliance will be

consolidated within Gaussin, achieving approximately €50 million turnover in 2020, not including the

licensing business and income from royalties, with close to 200 employees.

Marketing outlook

In recent years, Gaussin has developed a new range of vehicles and software intended for four growing business areas: ports, airports, logistics centres and smart cities.

Page 4 of 6

The different technologies that have been developed, patented and recognised are being increasingly noticed by the main players in each of those areas and Gaussin is currently responding to a number of international calls for tender.

The drop in battery costs combined with a growing awareness across the world of the importance of taking rapid and concrete action to cut CO2 emissions has made the period favourable to a rapid growth of sales for Gaussin.

Automation of flows for greater safety and high productivity is also a major requirement in the various areas of business of Gaussin, which are impacted by the expansion of e-commerce.

The aim of Gaussin is to shift gears in 2020 and rapidly develop international sales through:

• support of key accounts in all their sites across the world,
• the six aforementioned partnerships signed in 2019 and others being negotiated.
• the continuation of the model of selling licences for different vehicles and software with very high potential in different international territories,
• the development of new distribution channels,
• new sales communication from the first quarter of 2020 with the introduction of new tools designed to raise the profile of Gaussin solutions in international markets.

Lastly, In 2020, Gaussin aims to finalise the creation of the Hydrogen Consortium with international partners and customers to make it possible to finance Research and Development projects of the hydrogen version of its logistics and port vehicles.

Upcoming events

MWC Barcelona 2020 trade show from 24 to 27 February 2020

SITL trade show in Paris from 17 to 20 March 2020

TOC Asia show in Singapore on 21 and 22 April 2020

TOC Europe show in Rotterdam from 9 to 11 June 2020

Airport Show in Dubai from 22 to 24 June 2020

About Gaussin

Gaussin is an engineering company that designs, assembles and sells innovative products and services in the transport and logistics field. Its know-how encompasses cargo and passenger transport, autonomous technologies allowing for self-driving solutions such as Automotive Guided Vehicles, and the integration of all types of batteries, particularly electric and hydrogen fuel cells. With more than 50,000 vehicles worldwide, Gaussin enjoys a strong reputation in four fast-expanding markets: port terminals, airports, logistics and people mobility. The group has formed strategic partnerships with major global players in order to accelerate its

Page 5 of 6

market penetration: Siemens Logistics in the airport field, Bolloré Ports and ST Engineering in ports and Bluebus for people mobility.

In October 2019, the Group won the World Challenge for Self-Driving Transport in the Leading Company Category, Best Energy and Environmental Sustainability.

Gaussin has been listed on Euronext Growth in Paris since 2010 (EURONEXT GROWTH - FR0010342329).

More information on www.gaussin.com.

Contacts

Gaussin	NewCap -Investor and Media Relations
Christophe Gaussin	Dusan Oresansky/Mathilde Bohin
[e-mail]	[e-mail]
+33(0)3.84.46.13.45	+33(0)1.44.71.94.92

*This document may contain forward-looking information. Such forward-looking information refers to future prospects, developments and strategies of Gaussin Manugistique and is based on analysis of expected future results and estimates of amounts that are not yet determinable to date. Forward-looking information naturally contains elements of risk and uncertainty relative to events and therefore dependent on circumstances which may or may not occur in the future. Gaussin Manugistique draws your attention to the fact that forward-looking information provides no guarantee concerning its future performance or financial situation, financial results or trends in the sector in which Gaussin Manugistique operates, and which may significantly differ from those proposed or suggested in the forward-looking statements contained in this presentation. Furthermore, even though the financial position of Gaussin Manugistique, its performance and trends in the sector in which Gaussin Manugistique operates comply with the forward-looking information contained in this presentation, such performance or trends may not be a reliable indication of the company's future performance or prospects. Gaussin Manugistique is not committed to updating or confirming analysts' expectations or estimates or to publicly correcting any information or event in order to reflect an event or circumstance eventually occurring following this presentation.

Page 6 of 6