SIMPPLE Ltd. CEO Issues Letter to Shareholders for 2024 Performance

Singapore, Jan. 10, 2025 – SIMPPLE Ltd. (NASDAQ: SPPL), a leader in facilities management technology, has released a letter to shareholders from its CEO, Norman Schroeder, reflecting on the company's progress in 2024.

Dear Shareholders:

This past year has been transformative for us at SIMPPLE. I sincerely thank you for your ongoing trust and support. We achieved significant milestones and implemented important organizational changes in 2024. These developments have set a strong foundation for our goals in 2025 and beyond. SIMPPLE is dedicated to providing innovative product solutions while pursuing diversification and international growth. Our efforts in commercializing proprietary systems and patented robotics, as well as in-house developed A.I. analytics, are central to our ongoing strategy.

Human Resource Strategy and Reorganization

In our effort to strengthen SIMPPLE as a market leader in facilities management, we began 2024 with a comprehensive review and restructuring of our leadership team. This involved new executive appointments and the realignment of existing management roles to maintain key skills and continuity.

We engaged Korn Ferry, a global consulting firm, to conduct an extensive review of our organizational structure. This analysis included benchmarking our processes and employee standards against industry leaders and has enhanced our leadership's capacity to fulfill our global growth ambitions.

Product Development and Commercialization

Robotics Automation
In 2024, we made significant advancements in our robotics division. We deployed autonomous cleaning robots in various locations, including railway stations and airports. We also received recognition for our SIMPPLE Robotics at international trade shows, winning awards for innovation.

In mid-2024, we launched Gemini, the world’s first multifunctional robot that integrates cleaning, security surveillance, and concierge services. Gemini is designed to enhance existing cleaning operations with advanced A.I. capabilities, making it a valuable addition to commercial and residential environments.

The global service robotics market is expected to experience rapid growth, with a report predicting it will increase by over $90 billion by 2028, driven by technology integration in robotics.

Software and Artificial Intelligence
Our focus is shifting towards becoming a comprehensive solutions provider in facilities management. In 2024, we broadened our service offerings to include energy and asset management, helping our clients lower operational costs and environmental impacts. We also established a partnership with a pest management technology provider to enhance our service package.

SMIPPLE A.I., our Autonomic Intelligence Engine, underwent successful pilot trials in Singapore, showcasing its ability to integrate various building systems for quicker response times and improved efficiency.

Strategic Partnerships and International Expansion

As part of our international growth strategy, SIMPPLE expanded its footprint to Australia and entered several Southeast Asian markets. Our partnerships with local firms in countries like Thailand and Vietnam strengthen our global reach. We aim to explore further opportunities in Europe and the USA in 2025, aiming to position ourselves as a leading global technology provider in facilities management.

Diversified Revenue Streams with ESG Initiatives

We are committed to diversifying our revenue streams and enhancing growth. Our recent joint venture with Evolve Consulting ApS enables us to offer compliance tools for the growing demand for ESG reporting. This tool will automate assessments to meet the latest sustainability standards.

Our intellectual property (IP) portfolio is also expanding, with a recent patent awarded for the SIMPPLE A.I. process. With more IP assets in development, we are poised to explore new revenue opportunities through innovation.

Office Expansion and Relocation Expected in 2025

To support our growth objectives, we are looking to relocate to a larger office space that can better facilitate collaboration and innovation. This move is anticipated in early 2025.

Outlook for 2025

As we move into 2025, SIMPPLE is well-positioned for ongoing growth. With a restructured leadership, diversified products, and an expanding international presence, we are ready to capture new opportunities. Our financial stability has been reaffirmed, and we are focused on achieving our revenue goals in the coming quarters.

Thank you for your continued trust in our vision. I look forward to sharing our progress and milestones as we advance towards our goals throughout the year.

Sincerely,

Norman Schroeder
Chief Executive Officer
SIMPPLE Ltd.

About SIMPPLE LTD.

Based in Singapore, SIMPPLE Ltd. is a technology provider specializing in autonomous facilities management solutions. Established in 2016, we serve a diverse client base in Singapore and beyond, focusing on innovation in operational efficiency.

SIMPPLE, business, growth, innovation, expansion