GeoJunxion N : GeoJunxion to publish its 2020-'21 Annual Accounts for the year ending 30 June 2021

ANNUAL REPORT

2020-2021

GEOJUNXION N.V.

GEOJUNXION N.V. ANNUAL REPORT 2020-21

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CONTENTS
Management Board Preface..................................................................................................	4
Mission and strategy.............................................................................................................	5
Key figures............................................................................................................................	6
GeoJunxion Shares................................................................................................................	7
Management and Supervisory Boards...................................................................................	9
Supervisory Board Report...................................................................................................	10
Management Board Report..................................................................................................	11
Management declaration.....................................................................................................	17
Corporate Governance........................................................................................................	18
Financial statements 2020-21.............................................................................................	22
Addresses...........................................................................................................................	49

Management Board Preface

To our shareholders, investors and other interested parties

I am delighted to present the GeoJunxion Annual Report for the accounting year 2020-21. It covers the 18-month period from 1 January 2020 to 30 June 2021. However, the comparative financials for 2019 relate to the 12-month period from 1 January to 31 December 2019.

The 2020-21 accounting year was an eventful period during which the company underwent a complete metamorphosis. At the same time, we realised significant top line growth whilst keeping operating expenses flat on a like for like basis. All this during a time severely impacted by the COVID-19 pandemic.

During the past accounting year, the management team has refined the company's strategy and built a product portfolio with an emphasis on safety and sustainability which has the potential to continue delivering top line growth and margins and become profitable and cash generating. This product portfolio is built around three key pillars:

• Location-AwareContent
• Location Intelligence Services
• Premium Location Aware Content

Location Aware Content

The first pillar encompasses more traditional activities and product lines such as:

• Digital Maps: proprietary and Open-Source Maps (OSM) with worldwide coverage for use in routing, planning and display.
• Geo-LocationAPI (Application Programming Interface): including address geocoding and time zones covering Europe and North America. Typical use cases are in track and trace applications and geo-marketing.
• Geo Planning API: with time and distance matrices for logistics and resource planning applications. European coverage.

Location Intelligence Services

The second pillar includes our services supporting tailor-madegeo-location projects:

• Search and evaluation of location enabled content, typically to enhance existing maps and/or routing applications.
• Creating bespoke datasets, including sourcing, data creation, normalisation, aggregation and delivery. The typical use case is enhancing existing maps and/or routing applications.
• Producing Outdoor Venue Plans - tailor-made, interactive venue maps delivered as a turnkey solution including delivery through map tiler and maintenance. The broad range of use cases includes events; travel and tourism; real estate applications; last mile navigation and delivery; retail and distribution; and smart city applications.

Premium Location Content

The third pillar includes the High Alert Zones product family focusing on three distinct areas:

• Safety Alert Zones concentrate on road safety by alerting mobility users (pedestrians, cyclists, car and truck drivers) to areas with increased risk of accidents. This includes, for example, bridges, tunnels, accident-prone areas, school zones, playgrounds etc.
• Eco Alert Zones include a best-in-class dataset with worldwide coverage of regulated congestion, emission and restricted traffic zones. Increasingly, countries and cities are deploying these zones to limit the traffic in city centres, improve air quality, reduce accidents and elevate quality of life. For example, the German "Ümweltzones", Dutch "Milieuzones", Italian "Zona Traffico Limitato", UK "congestion charge zones or Ultra Low emission zones", etc. The main use case is in routing, planning, fleet management and for display but could be equally beneficial in real estate applications and other sectors. Coverage is worldwide, or more precisely wherever an environmental zone exists.
• Health Alert Zones currently contain primarily COVID-19 related information and will be extended to include alerts on air quality and noise pollution.

The strategy and product portfolio outlined above has enabled us to deliver top line growth and an improved bottom line during the past accounting year. We realise this is only the beginning with a road ahead of us, however, as a team, we are confident we are heading in the right direction and are committed to delivering results.

I would like to express my gratitude to everyone at GeoJunxion for their dedication and energy. I also want to thank our shareholders for their ongoing support.

Ivo Vleeschouwers

CEO, Managing Director

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Mission and strategy

Mission

GeoJunxion is the crossroads where fundamental, location-aware content connects with superior, customised intelligence and highly focused innovations to empower exceptional experiences. With an emphasis on safety and sustainability, we are constantly expanding our portfolio to meet the demands of a diverse and fast-evolving market. Building on decades of experience in mapping, the company focuses on high value, dynamic content and building environmentally conscious data content and solutions, which enrich safety in everyday life. With location-aware content at our core, we know where our strengths lie and have the know-how and technology needed to offer unrivalled, intelligent products and services.

GeoJunxion NV is listed on the regulated market of Euronext Amsterdam, under the symbol GOJXN.AS.

Company

The company is registered in Capelle aan den IJssel, the Netherlands - where the main office is also located. GeoJunxion N.V is the holding entity (formerly called AND International Publishers N.V).

During the past accounting year, the group structure has been significantly simplified. Foreign entities in the US (AND North America LLC) and the UK (AND International Publishers Plc) were liquidated. AND Data India Pvt. Ltd has been put into voluntary liquidation with the cash available from its Indian bank accounts fully repatriated to the parent company GeoJunxion N.V. The legal entity has been emptied and has a zero equity value per 30 June 2021. The formal decision by the NCLT (India court) to liquidate the legal entity is pending.

The legal entity and group structure as per 30 June 2021 is now as follows:

GeoJunxion N.V.	Holding Entity
GeoJunxion B.V.	Operating Entity
AND Data India Pvt. Ltd	In voluntary liquidation - zero equity
AND Holding B.V.	Dormant entity in the Netherlands - zero equity
AND Publishers B.V.	Dormant entity in the Netherlands - zero equity

During the accounting year 2020-21, there were no management fee allocations between the parent company and its subsidiaries. The parent company bears costs related to the stock quotation at Euronext; to maintenance of its shares; supervision costs from AFM (Authoriteit Financiële Markt); the Supervisory and management Board; and the interest costs on external funding (convertible loan). The subsidiaries bear the costs related to their operational activities and the maintenance of the legal entity.

Strategy

As an independent player, GeoJunxion focuses on creating "map agnostic" products, i.e. designed to be fully integrated into any commercial and open-source brand of maps or utilised in developing smart solutions for a large variety of use cases in different industries and market sectors.

GeoJunxion activities are directed towards establishing long-term relationships with its customers, through the creation of a recurring business model rather than one-off opportunities. Although the relationship may start with a proof-of-concept or a one-off project, most of our high value datasets require frequent and continuous updates to maintain or increase their value. As a result, the one-off project or proof-of-concept is often only a first step, followed by a recurring service or licence contract - converting the initial, single activity into a recurring, predictable and sustainable business model. In most cases, GeoJunxion also retains the IP and ownership of the newly developed datasets which can then be resold to other customers, thereby leveraging the initial investment and converting it into a virtuous business cycle.

The GeoJunxion mission remains focused on improving road safety and contributing to a more sustainable world, reducing the environmental impact through intelligent solutions which enable more environmentally conscious decisions.

Central to GeoJunxion strategy are:

• Cost efficient sourcing, production, ingestion and aggregation of geodata.
• Flexible licensing models at competitive pricing.
• Direct delivery of dynamic, up-to-date content via APIs.
• Highly customised solutions and content creation.

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