Checkit Regulatory News (CKT)

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

28 October 2021

Checkit plc

("Checkit" or the "Group")

Contract win

Checkit agrees deal to bring intelligent operations platform to BP sites in Australia and New Zealand

Checkit plc is pleased to announce that it has signed a new contract with BP to rollout its intelligent operations platform to a further 441 forecourts within Australia and New Zealand. It is expected that installations for these forecourts will commence in the early part of 2022 (the next financial year) and will double the size of Checkit's footprint within BP in terms of total number of locations and contracted annual recurring revenues. This contract underpins the Board's confidence of performance in subsequent financial years. Discussions are ongoing with regard to rolling out the platform to further BP locations across additional regions and dealer-owned estates. Currently, there are approximately 18,700 BP branded forecourts worldwide.

The Checkit platform replaces paper-based processes with digital assistants in the form of a mobile app which prompts, guides and captures the activity of store assistants, and provides managers with real-time oversight. The platform also encompasses automated monitoring via fridge-mounted sensors and handheld temperature probes to enhance food safety, reduce waste and save time spent on manual checking routines.

Prior to this agreement, the platform had already been effectively deployed at more than 400 BP-owned forecourts across the UK, Netherlands and Luxembourg for over 18 months. The new rollout in Australia and New Zealand is the latest phase of Checkit's expanding international partnership with BP.

Kit Kyte, CEO of Checkit, commented:

"I am delighted that we are expanding our relationship with BP on a global scale. The introduction of our platform across BP in Australia and New Zealand is a further endorsement of the importance of this technology in enabling intelligent operations within deskless workforces. The value can be seen in greater efficiency, improved staff engagement and retention, stock optimisation, production scheduling, waste reduction and many other parameters. We have worked closely with BP to make this happen and look forward to continuing our partnership."

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About Checkit

Checkit is the intelligent operations platform for deskless workforces, enabling operational agility and intelligent decision-making in large multinational and complex national organisations. The solution offers optional plugins for sensor networks and smart building management.

The Checkit Connect platform prompts, guides, captures and analyses frontline activities through digital workflows. Real-time data is captured from multiple workplaces. The platform empowers leaders to comprehend and continually improve processes, enhancing innovation, productivity, efficiency, energy usage, waste reduction, customer experience, safety and compliance.

Checkit provides intelligent operations tools to the retail, franchise, healthcare, life sciences, facilities management, catering, manufacturing, hospitality and commercial property sectors.

Checkit has a global customer base that includes the NHS, BP, Grifols, Waitrose, Sodexo and Center Parcs. The Checkit platform generates around 11bn data points per year from sensors and digital workflows.

Checkit is headquartered in Cambridge, UK, with its operations centre in Fleet, UK, and US office in Florida. The company has over 185 employees.