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Volatus Aerospace Corp. Announces Grant of Stock Options

Volatus Aerospace Corp.

Volatus Aerospace Corp., (“Volatus” or the “Company”) today announces that it has granted an aggregate of 1,440,000 incentive stock options to a total of nineteen management personnel of the Company. Each stock option entitles the holder to purchase one common share of the Company for an exercise price of $0.36 at any time until June 27, 2027. Twenty-five percent (25%) of the stock options shall vest on the first anniversary of the date of grant and in equal quarterly installments over the following three years such that the entire options shall have vested and become exercisable on the fourth anniversary of the date of grant. The granting of these options is subject to the terms of the Company’s stock option plan and its standard form of the stock option agreement, in addition to any required approval of the TSX Venture Exchange. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, and Latin America. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statement This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the business plans and expectations of the Corporation; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Corporation’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

June 24, 2022 04:06 PM Eastern Daylight Time

DB Schenker and USA Truck to Combine and Create Premier North American Transportation Solutions Provider

DB Schenker

VAN BUREN, AR and ESSEN, GERMANY – June 24, 2022 – DB Schenker, one of the world’s leading logistics service providers, and USA Truck (NASDAQ: USAK), a leading capacity solutions provider, today announced an agreement under which DB Schenker will acquire all outstanding shares of USA Truck common stock for $31.72 per share in cash. The transaction values USA Truck at approximately $435 million, including assumed cash and debt. The combination advances DB Schenker and USA Truck’s shared vision to become the premier North American transportation solutions provider. Upon completion of the transaction, DB Schenker aims to strengthen and expand USA Truck’s presence in North America, while utilizing its complementary international logistics expertise, air transport services and ocean gateways to benefit USA Truck’s existing customer base. Building upon USA Truck’s existing U.S. and Mexico freight network, DB Schenker also intends to expand its global logistics services across land, air, and ocean transportation services, as well as comprehensive solutions for logistics and global supply chain management. Founded in 1983, USA Truck provides comprehensive capacity solutions to a diverse North American customer base, including more than 20% of the FORTUNE 100. USA Truck’s approximately 1,900-unit fleet of trucks, 2,100 employees, partnerships with more than 36,000 active contract carriers, strategic network of terminals across the Eastern half of the United States and a nationwide third-party logistics presence provides capacity solutions to meet the evolving demands of both regional and national customers. “USA Truck is the perfect match for DB Schenker’s strategic ambition to expand our network in North America and foster our position as a leading global logistics provider,” said Jochen Thewes, CEO of DB Schenker. “In our 150 th anniversary year, we are pleased to welcome one of the leading trucking and logistics providers to DB Schenker. Together we will enhance our shared value proposition and invest in exciting growth opportunities and sustainable logistics solutions for new and existing clients.” “We are thrilled to have found a partner that appreciates USA Truck’s rich history, is closely aligned with our mission and values, and brings additional resources that we believe enable us to build on our nearly 40-year legacy of industry leadership,” said James Reed, President and Chief Executive Officer of USA Truck. “This transaction provides immediate and significant value for USA Truck stockholders, offers broadened career opportunities for our employees and increased capacity and service offerings with which to support our customers, and better positions our company to realize our long-term vision to become the premier North American transportation solutions provider.” “This transaction recognizes the culture of excellence James, his team and all of our dedicated employees have created and commit to every day at USA Truck. It rewards our stockholders for their unwavering support during our turnaround and through the pandemic and offers further opportunity for our customers to draw upon USA Truck’s strengths utilizing the resources and reach of one of the world’s leading logistics services organizations,” commented Alexander Greene, Chairman of the Board of USA Truck. Joe Jaska, DB Schenker’s Executive Vice President Land Transport, Americas Region commented, “USA Truck’s success has been driven by their impressive employees – all of whom are critical to future growth – and we look forward to welcoming them as an integral part of our team. As part of a larger organization with DB Schenker, USA Truck employees will have access to career opportunities at both the local and global level. We view this transaction as a platform for growth and by combining these organizations, we will greatly enhance our presence in the North American land transport space.” With more than 76,000 employees at more than 1,850 locations in over 130 countries, DB Schenker, a 100 percent subsidiary of Deutsche Bahn, is one of the world’s leading logistics providers. The company operates land, air, and ocean transportation services, and it also offers comprehensive solutions for logistics and global supply chain management from a single source. In the Americas, DB Schenker is one of the largest integrated logistics service providers with more than 10,000 employees in 123 locations providing over 27 million sq. ft. of distribution operations to its clients. With integrated partners across the Americas, DB Schenker provides the best combination of intimate local practices knowledge and global capabilities. Transaction Details The transaction, which has been unanimously approved by USA Truck’s Board of Directors, is subject to certain regulatory reviews and approvals and the satisfaction of other customary closing conditions, including the approval of USA Truck stockholders. Upon completion of the transaction, which the parties expect will occur by the end of 2022, USA Truck will become a private company and delist from NASDAQ Global Select Market. The transaction is not subject to any financing condition. Advisors Evercore is serving as financial advisor and Scudder Law Firm, P.C., L.L.O. is serving as legal counsel for USA Truck. Morgan Stanley & Co. Int. PLC is serving as financial advisor and Latham & Watkins LLP is acting as legal counsel for DB Schenker. Download logo and images About USA Truck USA Truck provides comprehensive capacity solutions to a broad and diverse customer base throughout North America. Our Trucking and USAT Logistics divisions blend an extensive portfolio of asset and asset-light services, offering a balanced approach to supply chain management, including customized truckload, dedicated contract carriage, intermodal, and third-party logistics freight management services. About DB Schenker With more than 76,000 employees at more than 1,850 locations in over 130 countries, DB Schenker is one of the world’s leading logistics providers. The company operates land, air, and ocean transportation services, and it also offers comprehensive solutions for logistics and global supply chain management from a single source. In 2022, DB Schenker celebrates the 150th company anniversary. Investors Zachary King, EVP & CFO (479) 471-2694 zachary.king@usa-truck.com Michael Stephens, Investor Relations (479) 471-2610 michael.stephens@usa-truck.com Media For USA Truck: Abernathy MacGregor Tom Johnson / Blair Hennessy AMG-USATruck@abmac.com For DB Schenker: Daphne Robboy Director, Marketing and Communications Region Americas Tel: +1 (786) 388-4247 Daphne.Robboy@dbschenker.com Additional Information About the Merger and Where to Find It This communication is being made in respect of the proposed merger involving USA Truck and DB Schenker. A meeting of the stockholders of USA Truck will be announced to seek stockholder approval in connection with the proposed merger. USA Truck will file with the Securities and Exchange Commission (“SEC”) a proxy statement and other relevant documents in connection with the proposed merger. The definitive proxy statement will be sent or given to the stockholders of USA Truck and will contain important information about the proposed merger and related matters. INVESTORS AND STOCKHOLDERS OF USA TRUCK SHOULD READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT USA TRUCK, DB SCHENKER, AND THE MERGER. Investors may obtain a free copy of these materials (when they are available) and other documents filed by USA Truck with the SEC at the SEC’s website at www.sec.gov, at USA Truck’s website at www.usa-truck.com or by sending a written request to the USA Truck’s Secretary at 3200 Industrial Park Road, Van Buren, Arkansas 72956. Participants in the Solicitation USA Truck and its directors, executive officers and certain other members of management and employees may be deemed to be participants in soliciting proxies from its stockholders in connection with the merger. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of USA Truck’s stockholders in connection with the merger will be set forth in USA Truck’s definitive proxy statement for its stockholder meeting. Additional information regarding these individuals and any direct or indirect interests they may have in the merger will be set forth in the definitive proxy statement when it is filed with the SEC in connection with the merger. Information relating to the foregoing can also be found in USA Truck’s definitive proxy statement for its 2022 Annual Meeting of Stockholders (the “Annual Meeting Proxy Statement”), which was filed with the SEC on April 11, 2022. To the extent that holdings of USA Truck’s securities have changed since the amounts set forth in the Annual Meeting Proxy Statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Forward Looking Statements This announcement contains “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, including statements relating to the completion of the merger. These forward-looking statements are generally denoted by the use of words such as “anticipate,” “believe,” “expect,” “intend,” “aim,” “target,” “plan,” “continue,” “estimate,” “project,” “may,” “will,” “should,” and similar expressions. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. These statements reflect management’s current beliefs and are based on information currently available to management. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from historical results or those anticipated. These factors include, but are not limited to: (a) the satisfaction of the conditions precedent to the consummation of the merger, including, without limitation, the timely receipt of stockholder and regulatory approvals (or any conditions, limitations or restrictions placed on such approvals); (b) uncertainties as to the timing of the merger and the possibility that the merger may not be completed; (c) unanticipated difficulties or expenditures relating to the merger; (d) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including, in circumstances which would require USA Truck to pay a termination fee; (e) legal proceedings, judgments or settlements, including those that may be instituted against USA Truck, USA Truck’s Board of Directors, USA Truck’s executive officers and others following the announcement of the merger; (f) disruptions of current plans and operations caused by the announcement and pendency of the merger; (g) risks related to disruption of management’s attention from USA Truck’s ongoing business operations due to the merger; (h) potential difficulties in employee retention due to the announcement and pendency of the merger; (i) the response of customers, suppliers, drivers and regulators to the announcement and pendency of the merger; (j) disruptions in the execution of plans, strategies, goals and objectives of management for future operations caused by the merger; (k) changes in accounting standards or tax rates, laws or regulations; (l) continued and sufficient access to capital; (m) economic, market, business or geopolitical conditions (including resulting from the COVID-19 pandemic, inflation, or the conflict in Ukraine and related sanctions) or competition, or changes in such conditions, negatively affecting USA Truck’s business, operations and financial performance; (n) risks that the price of USA Truck’s common stock may decline significantly if the merger is not completed; (o) the possibility that USA Truck could, following the merger, engage in operational or other changes that could result in meaningful appreciation in its value; and (p) the possibility that USA Truck could, at a later date, engage in unspecified transactions, including restructuring efforts, special dividends or the sale of some or all of USA Truck’s assets to one or more as yet unknown purchasers, which could conceivably produce a higher aggregate value than that available to our stockholders in the merger. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will occur or if any occur, what effect they will have on our results of operations or financial condition. If the proposed merger is consummated, USA Truck’s stockholders will cease to have any equity interest in USA Truck and will have no right to participate in its earnings and future growth. Other factors that could impact USA Truck’s forward-looking statements are identified and described in more detail in USA Truck’s Annual Report on Form 10-K for the year ended December 31, 2021 as well as USA Truck’s subsequent filings and quarterly reports and is available online at www.sec.gov. Readers are cautioned not to place undue reliance on USA Truck’s projections and other forward-looking statements, which speak only as of the date thereof. Except as required by applicable law, USA Truck undertakes no obligation to update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. Contact Details Nicholas Leighton - AOR for DB Schenker +1 949-478-5880 nick.leighton@nettresultsLLC.com Company Website https://www.dbschenker.com/usa

June 24, 2022 09:02 AM Eastern Daylight Time

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Lt. General (ret’d), the Honorable Andrew Leslie joins Volatus Aerospace Board of Directors

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") today announced the appointment of Lt. General (ret'd) the Honourable Andrew Leslie to its Board of Directors, effective June 23, 2022. Born into a multi-generational military and public service family, he has been a soldier, business leader, and a Member of Parliament for the federal riding of Orléans (2015). As a parliamentarian, he was a member of the Privy Council, Chief Government Whip, and Parliamentary Secretary focused on Canada–US relations, helping with NAFTA and other global matters. "It is an honour to welcome General Leslie to the Volatus Board," said Ian MacDougall, Chairman of Volatus Aerospace. "He has significant leadership expertise and a deep understanding of global affairs, defence, and strategic planning. His experience will be invaluable to Volatus as we grow our business globally and seek to work with governments in supporting their public safety, defence and security capabilities." Lt. General (ret’d) Leslie stated: "Volatus is a rapidly scaling Canadian aerospace company with enormous potential to become a leading global player in the drone space. I like their focus on veteran programs. They truly appreciate and value veterans’ expertise, experience, and knowledge. I look forward to getting to know Volatus leadership and staff and supporting their growth.” Following the appointment of Lt. General (Ret’d) Leslie, the Board will comprise five directors, three of whom are independent. Lt. General (ret’d) Andrew Leslie has extensive training and practical experience in leadership, governance, succession planning/leader selection/mentoring, strategic planning and risk and crisis management with detailed knowledge of Canada’s place in the world, international trade, and Canada–US relations. His 35-year career in the Canadian Armed Forces culminated as the Commander/CEO of the Canadian Army for four years during the latest Afghan War, where he was responsible for the leadership of 57,000 people, their equipment, training, a multibillion-dollar budget and related equipment programs. International tours with both the UN and NATO in peacekeeping roles were recognized with numerous Canadian and international awards and decorations. A graduate of numerous military courses on leadership, governance, ethics, strategy, tactics, equipment acquisition and risk management, his education includes the University of Ottawa (Economics), the Royal Military College (MA/Strategic Studies), the University of London, as well as executive courses at the Harvard Business School and the Canadian Forces Colleges. He is a graduate of the Institute of Directors Education Program from the Rotman School of Management. In 2021 he was conferred the degree of Doctor of Military Science degree from the Royal Military College. He currently lives in Ottawa and is bilingual (English/French). Upon moving on from his military career, he joined a large Canadian corporation as a Senior Vice President working on network operations and cyber security with U.S. and Canadian clients. In January 2017 the Prime Minister focused him on Canada–U.S. trade relations as Parliamentary Secretary for Global Affairs. He has spent considerable time in the U.S. and across Canada interacting with military and business leaders, Premiers, Governors and Congress on binational issues. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, and Latin America. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statement This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the business plans and expectations of the Corporation; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Corporation’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Volatus Aerospace Corp. Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

June 23, 2022 10:59 AM Eastern Daylight Time

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India’s largest open marketplace for road transportation Vahak loads up $14m series A funding round

Vahak

Goods worth billions are transported across India’s roads every day and driving this supply chain is India’s largest open road transport marketplace Vahak. The company today announced its $14m Series A fundraise as it scales operations with a sharp focus on supplier well-being and sustainability. Nexus Venture Partners led the funding round with participation from Foundamental, iSeed Ventures, Leo Capital, RTP Global, & Titan Capital. Vahak has now raised a total of $20.3m since its first round in March 2020. The funding will be used for rapid user-base expansion, building a stellar tech infrastructure by incorporating AI, ML, Big Data, and providing additional value-added services. Vahak aims to create an all-encompassing ecosystem for truck suppliers and become the go-to digital solution for them. Founded by Karan Shaha and Vikas Chandrawat in 2019, Vahak is a free-to-use, open marketplace for shippers and transport SMEs to discover and connect with truckers to help with their transportation needs. The start-up has been quietly disrupting the antiquated logistics approach in India and helping truck suppliers make a name for themselves. On some major routes across India, Vahak is helping truck drivers earn more than twice what they usually earn, by increasing truck utilization. Karan Shaha, CEO, and Co-Founder at Vahak commented: “Tech adoption is increasing rapidly in the Indian logistics industry and digitally-driven logistics services are the need of the hour in the current post-pandemic India. Through our platform, we are enabling truck drivers to operate for 25-26 days a month, as compared to the meagre 12-15 days they would operate otherwise. We are now all set to scale our technology and operations to capture 10% of the Indian logistics market and go from 1.5 mn users to 10 mn users in the next one year. We plan on expanding rapidly, enabling millions of Indian transporters and businesses with the power of technology. We have already integrated our platform with escrow payments and plan on bringing in services like insurance, GPS, spare part purchase, etc. very soon.” On leading the investment round Sameer Brij Verma, Managing Director, Nexus Venture Partners, said, “Despite posting good growth, the Indian logistics market continues to face certain challenges due to the lack of technology integration. Platforms like Vahak are now bringing about the digital transformation of this sector by providing tech-driven features and services to aid millions of truck drivers and shippers in the country. As India aims to cross the $5 trillion economy mark, and build common wealth for all citizens, it is imperative that such tech-driven initiatives receive adequate support from all quarters. We appreciate the tremendous work Vahak is doing and are glad to support them in their journey towards enabling digital, sustainable and cutting-edge transport operations in India.” Over the course of its journey, Vahak has successfully ushered in an unprecedented revolution in the Indian logistics sector. Transport operations in India are dominated by unorganized players that contribute to 86% of the entire market! This ultimately leads to high costs, lost opportunities, a number of inefficiencies, and a lack of transparency. This is why Vahak has focused on creating a supply-first platform that empowers transporters with the technology to find loads on demand, make their own digital brand and expand their business across boundaries. Supporting their vision to improve the truck supplier ecosystem, Vahak has collaborated with MediBuddy to provide over 6 lakh truck drivers with free online doctor consultations. And very soon, it is set to bring in a wide range of VAS (value-added services), like fuel cards, insurance, GPS, truck tyres & spare parts, and more. Alongside tertiary services, Vahak has also launched Vahak Payments, an in-app feature to make transactions faster and safer. Truck drivers can request for advance/balance payments and consignors can pay with a single click. Vahak Payments are safe and fast and help mitigate major payment issues. Through faster & smarter supply-demand matchmaking, Vahak has helped save over 27 million litres of diesel in just one year, effectively reducing the carbon footprint by 70,000 metric tonnes. With climate change becoming increasingly worrisome by the day, steps like these go a long way in promising a greener tomorrow. About Vahak Vahak is India’s first and largest open transport services marketplace, used by 2 mn+ users. Founded by IIT graduates Karan Shaha and Vikas Chandrawat, Vahak helps truck owners, transporters, consignors and transport agents find loads and lorries for their respective businesses. Users can also make their own online transport brand and build their own network to grow their business. Vahak is empowering thousands of single truck owners, transport SMEs and local businesses with the power of digital. Contact Details Vahak Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.vahak.in/

June 22, 2022 10:57 AM Eastern Daylight Time

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ENEOS Oil returns to 100th Pikes Peak Race with Tesla Model 3

ENEOS

The 100th running of the 2022 Pikes Peak International Hill Climb on June 26 will mark the fourth year ENEOS has supported the race efforts of Evasive Motorsports and driver Daijiro Yoshihara. ENEOS is Japan’s largest oil company and supplier of motor oil and transmission fluids to the majority of Asian vehicle manufacturers. Through its relationship with the car makers, it introduced an EV Fluid Series last year, which is designed to optimize the efficiency and performance of electric vehicles. And while it might appear unusual for an oil company established in 1888 to compete in the “Race to the Clouds” with a Tesla, it reflects the transition the company is making as transportation evolves. TESLA MODEL 3 In 2019 and 2020, Evasive Motorsports entered an ENEOS-supported 900-horsepower turbocharged Toyota 86 in the Pikes Peak International Hill Climb (PPIHC), which won the Unlimited Class at the second time of asking. However, the team made a radical shift in 2021, abandoning its proven race winner for a Tesla Model 3 Performance. Mike Chang at Evasive Motorsports in Cerritos, CA could see the market changing and knew it was time to embrace the future. But for a racing team and vehicle preparation specialist like Evasive, the Tesla Model 3 presented a number of challenges. In the past, a modified Toyota 2JZ turbo engine allowed them to compensate for the reduced air pressure on the climb to the 14,115ft finish line at the Pikes Peak hill climb. Unable to modify the electric motors in the Turn 14 Distribution / Yokohama Tire / ENEOS / Evasive Motorsports Tesla Model 3 Pikes Peak race car, the team needed to make other changes to prepare for the 12.42-mile sprint, which climbs 4724 feet. With the “Race to the Clouds” incorporating 156 turns, emphasis was placed on the chassis to maintain speed through the corners. New for 2022 are Yokohama slick racing tires. Fitted to prototype 18” Titan wheels, they have EVS discs on the rear to aid cooling for the Brembo Pista brakes. The suspension utilizes advanced KW coilover dampers that allow significant adjustment in compression, rebound and ride height to ensure the tires remain in contact with the road. Sourcing parts for the car was a challenge as very few people have attempted to race the Model 3, yet Evasive was able to find or fabricate new suspension arms, spherical links and joints as well as a new front sway bar. Full details are in the specifications below. Another important aspect was air management, both in terms of aerodynamic downforce and battery cooling. Among the most notable additions are the wider, carbon fiber Artisan Spirits fenders, which accommodate the slick tires and allow a wider track for stability. The Voltex rear wing on the tailgate is also tough to miss; increasing downforce over the rear wheels and working in harmony with the Evasive carbon fiber front splitter and rear diffuser. To improve cooling, airflow and mass, Evasive created a carbon fiber front bumper and vented hood under its EVS Tuning brand to help ensure the motors and batteries don’t overheat. EVS carbon fiber doors, roof, tailgate and rear window were added to further reduce weight, giving the batteries less to haul up the hill. In addition to the vented hood and large duct in the front bumper, cooling has been addressed with rear inlet ducts, a CSF radiator and oil cooler, a NO2 (nitrogen dioxide) sprayer that’s triggered when a preset temperature is reached. For 2022, an EVS Tuning Dual Chiller has been added to keep everything running at the optimum level. The original Tesla electric motors remain in place and Evasive added a Quaife ATB rear differential to help power distribution when Yoshihara exits the 156 turns. “Our first attempt at Pikes Peak with the Tesla in 2021 ended prematurely with a technical problem we were unable to trigger in testing,” Mike Chang from Evasive Motorsports explained. “It’s very difficult to replicate the conditions and load on the vehicle during testing, especially with a new car that presented us with a steep learning curve. However, we’ve worked continuously to address all the areas we can improve and have got a much better understanding of the Tesla Model 3’s strengths and weaknesses. We’re confident the car will be a genuine contender in this year’s Exhibition Class.” In the absence of a dedicated competition class for electric vehicles at PPIHC, the Tesla and other EVs currently compete together in the Exhibition Class. ENEOS EV TECHNOLOGY For its part, the engineers and chemists at ENEOS see the 2022 PPIHC as an opportunity to prove and promote its new EV Fluid Series. The line of dedicated EV fluids has been developed by the same experts who work alongside the majority of leading car makers in Japan and Asia. Currently, ENEOS personnel are working directly with the vehicle manufacturers to create the latest lubricants, continuously improving vehicle efficiency through reduced friction, lower emissions, improved fuel consumption and greater durability. And as the future of automotive development looks towards electric vehicles, ENEOS tasked its development teams to look at alternative fuel vehicle concepts, particularly in terms of lubrication and cooling. The new ENEOS EV Fluid Series is designed specifically to help the world’s EV manufacturers improve vehicle efficiency. It will also be offered in the future to help improve efficiency during routine maintenance, offering a superior alternative to current lubrication and cooling products. The Turn 14 Distribution / Yokohama Tire / ENEOS / Evasive Motorsports Tesla Model 3 Pikes Peak race car is a partner in the development of the new ENEOS EV Fluid Series. Its performance during testing and at the race itself will be closely monitored. Driven under the harshest conditions, the race car will allow the engineers to measure the improvements in terms of lower friction and improved cooling, leading to greater performance and durability on the arduous PPIHC. “We’re excited to return to Pikes Peak with the Tesla Model 3,” said Keisuke Yokochi Yokochi, Chief Marketing Officer for ENEOS USA. “We’re confident Evasive Motorsports has built an incredible race car and know Dai is among the top drivers in the world. Lubricated and cooled by our advanced EV Fluid Series, we’re sure the team has its best chance of winning its class and setting a new record for electric vehicles this year!” DAI YOSHIHARA Having a well prepared, competitive car with the best lubricants and cooling fluids is essential for success, but perhaps the most important element in the ENEOS assault on the 2022 PPIHC is the driver. And for the fourth year in succession, the man behind the wheel is Daijiro Yoshihara; one of the most skilled and adaptable pilots in the world. Although he retired from the Formula DRIFT PRO Championship last year, the 2011 FD Champion was universally recognized as one of the most talented drivers in the series. He’s also a 2020 PPIHC class winner, Time Attack Champion, accomplished GT racer, driver instructor and much more. After Dai has succeeded in every discipline he’s encountered, the Japanese driver will be venturing onto dirt to discover whether he can adapt to truck racing over the next 12 months. And ENEOS will be on his race suit and at his side as we continue to support him for a sixth year of competition. The relationship between ENEOS and Dai goes back a long way. In fact, the Japanese teenager worked at an ENEOS gas station as he started to explore his automotive passion. So, it was only natural we’d come together to continue the journey. The partnership between ENEOS and Dai will look very different in 2022. Rather than focusing on Formula DRIFT, the year’s activities are headlined by the “Race to the Clouds” at the wheel of the Turn 14 Distribution / Yokohama Tire / ENEOS / Evasive Motorsports Tesla Model 3 Pikes Peak. But that’s just the start. ENEOS will also support Dai and Turn 14 Distribution in its Drift Ride Along program, which will allow fans to sit beside Dai as he demonstrates the savage art of drift in his 1000hp Subaru BRZ, which has been refreshed and rebuilt after its punishing competition career. Dai and the BRZ will be appearing at a number of major events throughout the year, and fans who follow ENEOS social media can enter to win a “Ride with Dai.” Additionally, Dai will be making personal appearances in the ENEOS booth at various enthusiast events around the country. The program has already begun and fans should follow ENEOS social media for updates. If you can’t attend in person, don’t worry because Dai is working on a number of exclusive ENEOS videos, which will show fans behind the scenes and keep up with his latest activities. If that’s not enough, ENEOS and Dai are also working together on a SEMA project car, which will be a big departure from some of the incredible machines he’s built to date. “I’m extremely grateful to have the continued support of ENEOS,” Dai told us. “Having worked from the company in Japan, they definitely feel like family at this point. And I’m especially grateful that they wanted to embark on this adventure as I explore new horizons beyond Formula DRIFT. It’s definitely going to be an exciting year and I can’t wait to share it with everybody!” TECHNICAL SPECIFICATIONS Turn 14 Distribution / Yokohama Tire / ENEOS / Evasive Motorsports Tesla Model 3 Pikes Peak Motor / Battery Cooling: CSF Radiators radiator / oil cooler, NO2 (nitrogen dioxide) sprayer, custom hood vent and rear inlet ducts, EVS Tuning Dual Chiller Suspension / Chassis: KW Competition 3 Way coilover suspension, SPL Suspension spherical links, Evasive Motorsports spherical joints and custom front sway bar, MPP front upper A-arms and rear lower arms, Quaife ATB rear differential in modified frame, air jack lift system Wheels / Tires / Brakes: Prototype 18x11” Titan 7 T-P5 forged wheels with Evasive Motorsports rear aero covers, 280/680-18 Yokohama slicks, Brembo Pista racing front brake kit, custom Brembo GTS rear brakes, CSG brake pads, Evasive Motorsports electronic E-brake system Exterior: Artisan Spirits widebody fenders plus carbon fiber aero kit, Evasive Motorsports custom honeycomb carbon splitter and rear diffuser, EVS Tuning front bumper, carbon fiber vented hood and headlight covers, Voltex dry carbon Type 13 1800mm GT rear wing, Evasive Motorsports carbon fiber doors, roof, rear windshield, trunk lid and front air duct, Lexan windows Interior / Safety: Evasive Motorsports FIA-spec rollcage, Evasive Motorsports carbon fiber dashboard, Motec C127 Datalogger/dash display, Sparco carbon/Kevlar QRT-K racing bucket seat, six-point harnesses and steering wheel EDITOR’S NOTE Additional images of the Turn 14 Distribution / Yokohama Tire / ENEOS / Evasive Motorsports Tesla Model 3 Pikes Peak for editorial use are available here: dropbox.com/sh/o8oulhpjwu4q1mn/AADoqpaWNM0xk0ff0hGH6Dgfa?dl=0 You can view or share the Dai Yoshihara: Generations video here: youtu.be/NCJSdk36Bgc ABOUT EVASIVE MOTORSPORTS Established in 2002 and based in Southern California, Evasive Motorsports has been dedicated to the best quality performance parts at very competitive prices. With years of experience in the aftermarket automotive industry, our staff is knowledgeable about the products we sell. We also aim to provide the best customer service possible. Evasive focuses on vehicle balance, not solely on horsepower, as reflected by the wide variety of brands and specific areas of functionality offered on the website. Evasive Motorsports also offers race preparation, wheel alignment, corner balancing, suspension installation and tuning, and general maintenance. The company has track-tested an extensive range of parts, so don’t hesitate to call if you’re looking for recommendations. For more information visit evasivemotorsports.com ABOUT ENEOS Established in 1888 and headquartered in Tokyo, ENEOS is Japan’s largest oil company, with manufacturing and sales facilities throughout the world. With a unique position in its home market, ENEOS has worked with Asia’s automakers and leading race teams for decades, creating advanced lubricants with their vehicle engineers to provide optimum fuel economy with maximum power and long-term protection. ENEOS also recently announced a new line of products for future electric vehicle applications, helping to ensure the newest EV technology is operating as efficiently as possible. For more information, please visit eneos.us Contact Details Satomi Yamashita media@eneos.us Greg Emmerson greg@theidagency.com Company Website https://www.eneos.us

June 21, 2022 06:15 AM Pacific Daylight Time

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The Connected Devices Making a Splash this Summer

News Media Group, Inc.

Contact Details News Media Group, Inc. Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/

June 21, 2022 08:00 AM Eastern Daylight Time

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Volatus Aerospace Introduces AERIEPORT, an Autonomous Remote Drone Nesting Station

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") proudly introduces its autonomous remote drone nesting solution AERIEPORT at the Annual Energy Drone & Robotics Summit in Houston, Texas. The AERIEPORT is an all-weather solution designed to operate remotely in extreme temperatures ranging from -67°F to +131°F. It features an onboard weather station, a 4 SIM, 5G, highspeed LTE connection with Satcom option, an integrated ground-based detect and avoid system, a mission planner and remote operations system. “The AERIEPORT is designed to facilitate remote missions from anywhere in the world at any time,” says Pedram Nowroozi, Chief Technology Officer of Volatus Aerospace. “It is a versatile, all-weather, remote system able to operate in any climate and completely off-grid if needed.” Rob Walker, Chief Operating Officer commented: “We’re super excited about the potential of the AERIEPORT for customers in agriculture, security, renewable energy, oil and gas, mining, and construction to name a few.” The AERIEPORT is designed to be drone agnostic. Volatus is currently seeking special approval from regulators to operate the AERIEPORT without the need for a visual observer. While there is no guarantee of such approval, the company has a high level of confidence. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, and Latin America. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statement This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the business plans and expectations of the Corporation; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Corporation’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

June 20, 2022 05:09 PM Eastern Daylight Time

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Spokane Natives Christy and Scott Johnson Buy 32-Year Business Plese Printing and Marketing, Rebrand as Minuteman Press – Spokane

Minuteman Press International Inc

Plese Printing & Marketing, which has been in business for 32 years and is independently owned by Kim Plese, has been sold to Spokane natives Christy and Scott Johnson. Christy and Scott have rebranded the business as Minuteman Press – Spokane and are operating out of the same location at 4201 E. Trent Ave. On the sale of her business, Kim Plese says, “I had no intention of selling my business as we were growing rapidly after the pandemic. Suddenly, my longtime production manager of 12 years had passed away and I was devastated. He was only 36 years-old at the time of his passing. When Minuteman Press Regional Vice President Chris Jutt contacted me, it happened to be two months later and I decided it was time to think about selling. I took his call seriously and we moved forward from there.” She continues, “My business was my ‘baby’ and it’s an emotional process to sell. Minuteman Press and Chris Jutt’s patience and understanding were enormous in guiding me during this time.” “Minuteman Press had qualified buyers (and Spokane natives) Christy and Scott Johnson ready to purchase a company like mine. I was able to transition out of the business with ease and there was little I had to do in regard to training. I am so grateful to Chris Jutt and Minuteman Press for making this happen for me. I am now able to transition to the next chapter of my career.” -Kim Plese, former owner, Plese Printing & Marketing (now Minuteman Press – Spokane) Spokane Natives Return Home to Realize Their Dream For Christy and Scott Johnson, buying a business in Spokane enables them to return to their hometown and be near family and friends. Christy says, “ We enjoy getting to know our customers many of whom are also small business owners. It’s wonderful to have the opportunity to support our customers and the many causes and entities that they represent. Scott is originally from Spokane and I grew up in Cusick. Buying this business has allowed us to move back to Spokane, which has been fantastic.” They chose to buy Plese Printing & Marketing and join the Minuteman Press franchise network so that they could hit the ground running with established business while also being fully supported and trained in the industry. Scott says, “We loved meeting with Kim Plese and learning how she built her business over the past 32 years. Minuteman Press has a program that connected us with Kim and helped us transition into ownership of the business. It’s a dream come true to buy this business and also receive training and support along the way.” Before buying the business, Scott worked as a Mechanical Engineer and Christy worked as an Accountant. Scott says, “I spent 24 years as a mechanical engineer working in semiconductor quality and reliability and building technical teams around the globe. Christy is an accountant and started in corporate America. Over the last decade, she has been working for small businesses filling many roles in Finance, HR, and Operations Management. She has broad experience working in and with small businesses.” He continues, "Several of my family members have owned successful businesses in Spokane so it seemed natural to take this step." “We are so excited to serve our customers in Spokane and the surrounding areas with the products and services they need to market, grow and operate their businesses. Our services include: Every Door Direct Mail, Variable Mail Service, Banners, Yard Signs, Business Cards, Product Labels, Rack Cards, Tri-Fold Brochures, Personalized Letterhead, Envelopes, 2 part & 3 part customized carbonless forms, Custom made to order spiral bound books, Self-Covering Booklets, and Promotional Products. We also offer solutions for branding your physical office space, such as customized wall wraps, window graphics, and Indoor and Outdoor Signage. We intend to add vehicle wraps in the future. The business we purchased already has the equipment, employees, and capability to do this work. Bring us your wish list and together we will make it happen!” -Scott Johnson, co-owner, Minuteman Press – Spokane When asked what he loves most about owning a business vs. having a job, Scott answers, “We love that we set our own schedule and that the time and the hard work we put in is for our own benefit. We have our own vision how we want to run our business as well as the internal workplace culture we like, and owning our own business allows us to make it what we want.” Reflections on the Purchase and Sale of the Business With the sale of Plese Printing & Marketing complete, Scott Johnson and Kim Plese reflect on their experiences as buyers and sellers, respectively. Scott Johnson says, “We had tried to purchase other small businesses in the past, but it’s daunting to evaluate and try to find a good fit. With Minuteman Press, there was someone available to help with the process, give advice, and answer questions. I would suggest doing a lot of research to find a good fit with your goals and expectations. The education process took many years for Christy and I and to find a good fit, and we found it with Minuteman Press – Spokane.” Kim Plese concludes: “ As the Owner/President of Plese Printing and Marketing in Spokane, Washington for over 32 years, I can say without hesitation that my experience with Minuteman Press and Chris Jutt, Regional Vice President PNW, has been amazing to say the least. I would highly recommend Minuteman Press to anyone who might be considering selling their independent printing business. The family-owned Minuteman Press business enterprise has 45 years of success in the printing industry. I was able to sell my business for a fair market price knowing that all my years of hard work was going into good hands. My entire staff stayed on after the sale and my customers are satisfied knowing that they have the great service and quality products they've known for years. I was able to transition out of the business with ease and now I am able to pursue a career in politics and run for an important seat as a County Commissioner for Spokane! I am so grateful to Chris Jutt for making this happen for me. It's been a complete pleasure from beginning to end.” Minuteman Press – Spokane (formerly Plese Printing & Marketing) is located at 4201 E. Trent Ave., Spokane, WA 99202. For more information, call Christy and Scott Johnson at 509-534-2355 or visit their website: https://minuteman.com/us/locations/wa/spokane/ Learn more about #1 rated Minuteman Press franchise opportunities at https://minutemanpressfranchise.com. To find out how to sell your printing business through Minuteman Press International, visit https://bit.ly/minutemanpressconversions Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

June 20, 2022 10:00 AM Eastern Daylight Time

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Rider takes off with $3.1M seed round to courier Pakistan businesses in to 21st century

Rider

Rider, Pakistan’s first ever logistics start-up to be backed by YC, is building modern logistics for online sellers across the country. In doing so, the start-up has attracted the attention of investors and is today announcing a $3.1M funding with participation from YCombinator and new investors i2i Ventures, Flexport, Soma Capital and Rebel Fund. Existing investors Global Founders Capital, Fatima Gobi Ventures (FGV) and TPL E-ventures also joined the round which included notable angel Arash Ferdowsi (Dropbox Co-Founder). With this seed round, Rider has now raised a total of $5.4m since September 2021. Founded in 2019, Rider has been building a network of sorting hubs, urban delivery centers and a digitized fleet, offering online sellers in Pakistan a next-day ‘Amazon-like’ delivery service. The Rider platform offers route optimisation for delivery agents, live tracking and scheduling for buyers, and a highly digitized warehousing function for sellers. Rider is led by Salman Allana, a former UPS Pakistan exec and the core team consists of former Alibaba, Delivery Hero and Jumo executives. Since their pre-seed investment round in September 2021, monthly revenues have grown 110% and they have doubled the customer base to 650 online sellers. Rider has now successfully completed the delivery of over 3M parcels across 60 cities in Pakistan. Salman Allana, founder and CEO of Rider commented: “We set up Rider because we knew the traditional courier companies in Pakistan were not set up to service the e-commerce market and were failing to capture the online buying trend. The problem is huge, circa $1bn GMV is lost annually due to failed and slow deliveries, but the opportunity is even bigger than that - Pakistan is the 5th most populous country in the world with 70% smart phone enablement yet only 3% of retail sales are currently made online. We’re really excited about the market potential and the impact Rider is already having in supporting business growth across the country.” Rider has plans to enhance the ecommerce marketplace in Pakistan with solutions and infrastructure beyond logistics. Salman Allana added: “Retail is north of a $150B industry. Yet it is stuck in bricks and mortar. Through our platform, one mile at a time, we are enabling the industry to transform and get online and we will offer more in time to come. Moreover, we are opening the industry to more participants and changing the face of it. We are fully behind the mission to enable more than 1 million - primarily female-owned - Instagram/Facebook sellers to trade.” “Pakistan’s payment infrastructure is chasing the growth of ecommerce and logistics capabilities. Well over 95% of all ecommerce orders are cash-on-delivery (COD) which creates operational challenges for last mile and retailers. Rider is addressing this piece of the puzzle with our payment wallet through which we can reconcile work quickly and ensure sellers are reimbursed within hours”. On joining the investment round Kalsoom Lakhani, GP i2i Ventures said: "We are honored to be on this journey with Rider. As the e-commerce industry in Pakistan grows, so will the need for a next generation 3PL player that understands the Pakistani market realities and knows how to build both aggressively but also efficiently. We believe that this player is Rider and have so much conviction in Salman and his vision." Meanwhile, new investor Jared Heyman, Managing Partner, Rebel Fund commented: “Rider is Rebel Fund’s first investment in Pakistan and we’re excited to support their further growth. The company’s founding team and traction to date are impressive, and we believe the Pakistan market desperately needs a sophisticated technology-driven delivery service like Rider.” FGV’s General Partner Ali Mukhtar commented: “There is strong momentum in the ecommerce space in Pakistan, largely driven by the shift in consumer behavior with the increase in 3G/4G penetration across the country. With that, there is immense growth potential for last-mile champions such as Rider who are building the required infrastructure to enable growth in the ecommerce space. We believe in the Company’s tech-first approach and we’re excited to once again support Salman and his team at Rider.” Willem van den Bosch, Investor at SOMA Capital remarked: “We think Rider is uniquely positioned to capitalize on the expansion of eCommerce in Pakistan. Rider's core tech-forward product offering fixes legacy pitfalls that exist in the last-mile fulfillment market today - Rider's B2B2C offering fixes issues with delivery failures, lateness, and broken communication which have hampered expansion of eCommerce previously. We're extremely supportive of the Rider team's ability to execute and expand deeper into the full logistics product stack and continuing to enable eCommerce fulfillment in Pakistan and beyond” About Rider Founded in Karachi in 2019, Rider is a B2B2C service that delivers e-commerce products from online stores and marketplaces to the customers’ doorstep. Operational innovation is core to the team’s mission. Rider exists to continuously reimagine, redesign and rebuild operations that work for emerging markets. For more information please visit https://withrider.com/ or follow the company on: Twitter, LinkedIn, Facebook or Instagram. Contact Details Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://withrider.com/

June 20, 2022 09:00 AM Eastern Daylight Time

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