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Skuad secures Series A funding to drive global expansion in helping companies hire, manage and pay talent globally

Skuad

Numerous large companies around the world have started to adopt globally distributed and hybrid team structures as part of business growth and expansion plans. However, they are struggling to remain compliant with local employment regulations, process cross-border payroll and find high-quality talent as they hire beyond borders. Skuad, a Singapore-based company that enables global hiring and payroll, announced today that it has raised US$ 15 Mn in Series A funding to help companies like these overcome challenges around building global teams. The funding round was led by a Southeast Asian venture capital fund alongside a U.S. strategic investor specializing in staffing and two leading global payments platforms. This round also saw participation from existing investors BEENEXT, Anthemis as well other prominent angel investors. This funding follows on from the US$4 Mn seed round in December 2020, taking the total capital raised to US$19 Mn. The brainchild of Sundeep Sahi, Skuad was founded in 2020 with the singular aim of simplifying the process of finding and managing the right talent while removing the limitations of boundaries. While the pandemic-induced lockdowns and the “work from home” situation enabled the rise of distributed working models and global teams, they also created a unique set of challenges for organizations that were used to a traditional “office” set-up. Skuad enables companies to build global, distributed teams by hiring the best talent beyond borders (without setting up a legal entity). Its array of services include onboarding, payroll, benefits, taxes and local compliance (at a fraction of the usual cost and time). “The way people work and companies hire has changed,” said Sundeep Sahi, Founder and CEO of Skuad. “ Our mission is to elevate lives by democratizing opportunities and talent globally. We started Skuad because we realized that talent was everywhere but opportunities were not. With the complexities of hiring in foreign markets and cross-border payments, companies were finding it hard to discover and hire the right talent and build global teams. On the other hand, talent did not have the right discovery platform for finding remote employment that invests and helps them grow in their career rather than working for transactional short term gigs. We want to change this status quo and actively work towards enabling 1 Mn workers to discover the best opportunities globally, work anywhere in the world & get paid anytime in their currency of choice”. To further its mission, Skuad is also finalizing its acquisition of Codejudge, a data-driven talent assessment platform that automates the tech interview process. On the Codejudge acquisition, Sundeep Sahi added: “Finding the right talent is only half the battle — being able to qualitatively assess, interview and hire this talent is fundamental to the success of talent acquisition and retention strategies. The acquisition of Codejudge will strengthen Skuad’s existing hiring and onboarding capabilities with an added layer of data-driven talent assessment functionalities. Skuad will leverage Codejudge’s robust code-simulation platform and code sandboxes to further enhance its product offerings and scale its acquisition capabilities.” Commenting on the funding, Dirk Van Quaquebeke, Managing Partner, Beenext, said, “Businesses are beginning to see the advantages of having teams not constrained by borders. This not only enables them to scale teams and enter new markets quickly, but also helps them find and hire the best talent without the need to relocate. As early investors in Skuad, we’ve seen the team bridge the gap between talent shortage and surplus markets. We are excited for this next phase of growth of the business — building global, distributed teams for thousands of customers.” In the last two years, Skuad has witnessed exceptional growth — with customers across 34 countries (>50% from North America and Europe), talent in 94 countries (>80% from emerging economies) and 3X growth in ARR since January 2022. Further, given Skuad’s affordable pricing plans — starting at US$199 per employee per month for payroll and US$499 per employee per month for talent discovered through the integrated platform — their clients range from emerging and early-stage startups to larger businesses. These companies have built their global teams on Skuad’s platform and are processing over US$120 Mn in payroll and payments worldwide in over 50 currencies. Skuad has also expanded its leadership team with experienced senior hires across all verticals (Product, Sales and Operations), resulting in brand visibility and big client wins in the US and EU in a short period of time. Remote and hybrid work trends have continued in the post-COVID world leading to a greater demand for digital knowledge workers, especially from the Asia-Pacific region. Evolving digital advancements across industries and sectors has led to the need for diverse and upgraded tech skills. This has resulted in the creation of new technology hubs in the Philippines, Malaysia, India and Indonesia. According to a McKinsey Global Institute article, Asia is expected to account for almost 40% of global consumption and generate more than 50% of world GDP by 2040. Skuad is built for this new world of work. Together with the funding capital and the Codejudge acquisition, the company plans to strengthen its tech features to scale across global hiring, payments and payroll. It will also continue to build growth functions to further penetrate prime markets and expand beyond current geographies. About Skuad Skuad is a fast-growing global employment and payroll platform, which enables large enterprises and emerging start-ups to employ and pay exceptional talent anywhere in the world, compliantly. Skuad is valued and trusted by leading global companies worldwide. Skuad’s digital employment infrastructure ensures companies can hire, onboard, and pay employees and contractors in 160+ countries, without setting up local entities, on a single unified dashboard. Our legal infrastructure manages all local compliances and provides a range of amazing country-specific benefits and insurance packages. Contact Details Skuad Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.skuad.io/

October 20, 2022 07:00 AM Eastern Daylight Time

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Press Release: CLASP & Nithio, with support from the Global Energy Alliance for People and Planet, Launch Financing Facility for Productive Use Appliances

CLASP

Today at the Global Off-Grid Solar Forum and Expo, CLASP and Nithio launched a USD $6.5 million financing facility to catalyze uptake of productive use appliances across Africa. The facility will improve appliance affordability for consumers and companies and is supported in part by the Global Energy Alliance for People and Planet (GEAPP). Access to productive use appliances can deliver significant economic, health, education, and quality of life benefits for an estimated 60 million households worldwide and put under-electrified parts of the world on a low carbon pathway to electrification. Yet, affordability remains a major barrier to access and scale. Speaking during the facility’s launch in Kigali, Rwanda, Jeff Stottlemyer, Director at CLASP said, “This facility is designed to catalyze private investment in productive use appliance markets at scale, making those appliances more affordable and accessible.” CLASP and Nithio identified six appliance technologies based on their relative maturity and potential to drive development impact – walk-in cold rooms, refrigerators, electric cookers, fans, mills, and solar water pumps. Chianda Njogu, Senior Associate at the Global Energy Alliance for People and Planet (GEAPP) said, “By making productive use appliances affordable and accessible, the facility can transform lives by enhancing income generated by smallholder farmers and micro-enterprises, creating new green energy enabled jobs, and improving the sustainability of renewable energy infrastructure projects through increased demand for electricity.” The facility will initially operate in Democratic Republic of Congo, Ethiopia, Kenya, Nigeria, Sierra Leone, and Uganda based on growth potential and market maturity. Kate Steel, Chief Executive Officer at Nithio said, “Consumer financing is crucial to long-term, sustainable growth in the productive use market. GEAPP’s support will enable Nithio to leverage our unique, data-drive approach to make consumer financing accessible for more companies and, ultimately, make it easier for their customers to afford these life-changing technologies.” How it Works The facility will offer procurement subsidies, capacity building grants, consumer financing, and advisory support focused on credit systems development for productive use appliance distributors. It will lower appliance costs for end-users by discounting the price of bulk solar appliance procurements and providing financing for distributors to enable them to sell their products on credit. For more information, please visit our website. Grant requests and general enquiries should be sent to Financing@clasp.ngo. About CLASP CLASP focuses on appliance & equipment energy performance and quality, to mitigate and adapt to climate change and expand access to clean energy. Super-efficient and high quality appliances accelerate access to and use of renewable energy for the world’s poorest people. CLASP supports progress on the United Nations’ Sustainable Development Goal 7, affordable and sustainable energy for all. Renewable energy services like cooling, communications, and mechanization empower low-income communities and improve lives in a climate friendly way. CLASP works globally and has teams in Washington, DC; Nairobi, Kenya; New Delhi, India; Brussels, Belgium; and Jakarta, Indonesia. About NITHIO Nithio is an energy financing platform powered by its innovative credit risk analytics engine. Nithio leverages its deep sector expertise, geospatial data, and artificial intelligence (AI) to forecast repayment patterns by consumer segment, provide detailed insight on projected cash flows, and finance energy access technologies. About the Global Energy Alliance for People and Planet (GEAPP) The Global Energy Alliance for People and Planet (GEAPP) is an alliance of local entrepreneurs, governments in emerging and developed economies, and technology, policy, and financing partners. Our common mission is to support developing countries’ shift to a clean energy, pro-growth model that ensures universal energy access and unlocks a new era of inclusive economic growth, while enabling the global community to meet critical climate goals during the next decade. In doing so, as an Alliance we aim to enable 150 million new jobs, reduce 4 gigatons of future carbon emissions, and expand clean energy access to one billion people. With philanthropic partners, Bezos Earth Fund, IKEA Foundation, and The Rockefeller Foundation, GEAPP works to build the enabling environment, capacity, and market conditions for private sector solutions, catalyze new business models through innovation and entrepreneurship, and deploy high-risk capital to encourage private sector solutions, and assist just transition solutions. For more information, please visit www.energyalliance.org and follow us on Twitter at @EnergyAlliance. CLASP focuses on appliance & equipment energy performance and quality, to mitigate and adapt to climate change and expand access to clean energy. Super-efficient and high quality appliances accelerate access to and use of renewable energy for the world’s poorest people. CLASP supports progress on the United Nations’ Sustainable Development Goal 7, affordable and sustainable energy for all. Renewable energy services like cooling, communications, and mechanization empower low-income communities and improve lives in a climate friendly way. CLASP works globally and has teams in Washington, DC; Nairobi, Kenya; New Delhi, India; Brussels, Belgium; and Jakarta, Indonesia. Contact Details CLASP Dennis Migono +254 707 204548 dmigono@clasp.ngo Global Energy Alliance for People and Planet Eric Gay +1 917-912-6190 eric.gay@energyalliance.org Company Website http://www.clasp.ngo/

October 19, 2022 11:45 AM Eastern Daylight Time

Travel Technology Association Selects Laura Chadwick as New Leader

Travel Tech

The Travel Technology Association (Travel Tech), the voice of the travel technology industry, announced today that following a comprehensive executive search, it has appointed Laura Chadwick as its new President and Chief Executive Officer. Chadwick’s record of association leadership and public policy advocacy make her an ideal choice for the association to advance its mission of promoting marketplace competition, transparency, and advocacy for policies that deliver consumer value. Chadwick previously served as a Vice President, Industry Relations at the XRAssociation (XRA), where she launched the new organization’s membership, marketing, and development efforts. Under her leadership, XRA grew from five members to more than 40 in the span of two and a half years. Previously Chadwick led corporate member engagement and technology policy lobbying at the National Restaurant Association. She is also a veteran of the Consumer Technology Association and the Capitol Hill offices of U.S. Representatives Adam Schiff (CA-28) and Mike Thompson (CA-05). “We are delighted Laura is leading Travel Tech. Her leadership skills, combined with her technology and policy background, make her the perfect choice,” stated Emmett O’Keefe, Chairman of the Travel Tech Board of Directors. “She will be a great advocate for the industry as we continue to provide value to the travel consumer.” Chadwick will focus on solidifying the Travel Technology Association’s value to the industry, highlighting its advocacy work, and expanding its membership. “I am honored to join the Travel Technology Association as its new leader and work with some of the most innovative companies in the travel industry,” Chadwick said. “Throughout my career, I have led efforts to highlight the power of technology to benefit consumers and transform businesses. As more and more Americans make plans to travel, we have a great opportunity to highlight Travel Tech’s core principles of consumer choice, competition, and transparency and its value as an organization supporting the industry.” “Laura’s leadership is a welcome addition to the team,” stated Kelly Kolb, Travel Tech’s Board Vice Chair. “Her plans to expand the reach of the association, enhance our advocacy efforts, and showcase the benefits technology brings to travelers and the economy, will be noticed quickly throughout the industry and especially in Washington, DC.” Chadwick takes on the role of President and CEO following the transition of Interim President Stewart Alvarez. Alvarez will continue to support Travel Tech in an advisory role. “I look forward to working with Laura as she leads Travel Tech in these important times,” stated Alvarez. “Proposals from the Department of Transportation regarding ticket refunds and ancillary services, ongoing discussions in state capitals and city halls, along with the continued advocacy of a transparent marketplace, make her leadership in this space essential.” ### About Travel Tech The Travel Technology Association (Travel Tech) is the voice of the travel technology industry, advocating for public policy that promotes transparency and competition in the marketplace to encourage innovation and preserve consumer choice. Travel Tech represents the leading innovators in travel technology, including global distribution systems, online travel agencies and metasearch companies, travel management companies, and short-term rental platforms. To schedule an interview with a Travel Tech spokesperson, contact Dan Rene of kglobal at 202-329-8357 or daniel.rene@kglobal.com. Contact Details Dan Rene +1 202-329-8357 daniel.rene@kglobal.com Company Website https://www.traveltech.org.

October 19, 2022 09:45 AM Eastern Daylight Time

Study: Is Digital Nomadism the New Work Non-Negotiable?

MBO Partners

A new study from MBO Partners® shows that digital nomadism is the number one work trend that employers can no longer ignore. Digital nomadism, a term referencing workers who embrace a location-independent, technology-enabled lifestyle that allows them to travel and work remotely, has grown by 131% from the pre-pandemic year 2019. Today, 16.9 million American workers describe themselves as digital nomads. Traditional workers are the fastest-growing segment embracing this style of work. The number of digital nomads with traditional corporate jobs increased by 9% in 2022, growing from 10.2 million in 2021 to 11.1 million this year. "The massive rise in digital nomads is just one more sign that the workforce of yesterday is gone for good,"said Miles Everson, CEO, MBO Partners. "The 'work from anywhere' trend is here to stay, and employers must take note that the power is in the hands of the worker, not the employer or client. To embrace this strong and growing population of nearly 17 million workers, look beyond the if and into the how – create and enforce a documented nomad policy, and consider how to engage flexible, blended talent teams that engage for purpose and outcomes." The report revealed several key insights about this fast-growing segment of the American workforce, including: Out of the office, into the world. The number of digital nomads with traditional jobs increased by 9% in 2022, growing from 10.2 million in 2021 to 11.1 million in 2022. In fact, since the start of the pandemic, the number of digital nomads with traditional jobs has more than tripled. Taking a page from the retiree's handbook, digital nomads seek out locations with lower costs of living and favorable amenities. No plans to quiet quit. Eighty-one percent of digital nomads report being highly satisfied, and 11% are satisfied with their work and lifestyle. Only 3% were dissatisfied. This compares to 68% of non-digital nomads reporting being highly satisfied and 14% satisfied with their work and lifestyle. Interestingly, in terms of politics, digital nomads skew heavily Democratic (51%) vs. Republicans (23%) and Independents (23%). VanLife is not out of gas. VanLifers, digital nomads who travel, live and work in RVs, vans, or other vehicles converted into roaming residences, were the fastest-growing digital nomad segment, increasing 19% in 2022 and reaching 3.1 million. Digital nomad villages offer support. A growing support industry is making it easier to be a successful digital nomad, whether it be providing products like cross-border health insurance to assist digital nomads or digital nomad villages like Nomad Village Brazil and Digital Nomad Valley Zadar, Croatia that provide a community and infrastructure to be productive. The top challenges reported by digital nomads are personal safety (34%), being away from family and friends (32%), and managing work and travel (25%). The new Dreamers: Armchair Nomads. Despite aspirations, only 8-11% of those who express interest in the nomadic lifestyle will actually make the leap in the next 2-3 years. A growing group of "armchair digital nomads" will live the life through the experiences of others vs. becoming nomads themselves. The convergence of remote work and technological improvements have been key drivers in accelerating the digital nomad trend. While the pandemic forced a change in physical work locations, it ignited an industry to support this holistic change of remote work. It was not a giant leap for workers to go from working from home to working from anywhere that technology allowed. As evidenced by summer air travel, our appetite for travel has not diminished. Even as work requirements shift from fully remote to hybrid or in-office, digital nomadism will not be grounded. Many factors will continue to drive the growth of this trend, such as cities and countries competing to attract digital nomads, improvement in remote work technology, and companies creating digital nomad policies. MBO Partners will release the full 2022 State of Independence study in November 2022. To obtain a copy of the brief, please visit www.mbopartners.com/state-of-independence/digital-nomads. About MBO Partners® MBO Partners is a deep job platform that connects and enables independent professionals and microbusiness owners to do business safely and effectively with enterprise organizations. Its unmatched experience and industry leadership enable it to operate on the forefront of the independent economy and consistently advance the next way of working. For more information, visit mbopartners.com Contact Details Words For Hire Karen Swim +1 586-461-2103 mbopr@wordsforhirellc.com Company Website https://mbopartners.com

October 19, 2022 09:00 AM Eastern Daylight Time

How $BKYI Is Growing Globally -- Check Out This Interview With Alex Rocha, Managing Director, EMEA At BIO-key

BIO-key International, Inc.

Contact Details Catalyst IR- William Jones, David Collins +1 212-924-9800 BKYI@catalyst-ir.com Company Website https://www.bio-key.com/

October 19, 2022 09:00 AM Eastern Daylight Time

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An Eclectic Ecosystem: Learn About The Society Pass (NASDAQ: SOPA) With COO, Pamela Aw-Young

Society Pass Incorporated

Contact Details Dennis Nguyen: Founder, Chairman & CEO +1 877-440-9464 dennis@thesocietypass.com Company Website https://thesocietypass.com

October 18, 2022 09:00 AM Eastern Daylight Time

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Ready for Ron Announces National Student Director

Ready for Ron

Ready for Ron, the only credible independent group working to Draft Florida Governor Ron DeSantis to run for President, announced a new initiative to engage college students, as activists and volunteers, in support of the official national petition to draft Ron DeSantis to run in 2024. ‘Young Americans Ready for Ron’ led by Dylan Dean, will build a nationwide network of student activists to actively engage their fellow students and their local communities as part of the growing national movement in support of a Presidential run by Governor DeSantis. Dean, a student at Montana State University served as a multi-State Chair for the renowned student activist movement Young Americans for Liberty (running five states at once) and is a tireless advocate on and off college campuses. Dean’s experience in grassroots organizing and action has helped him build a national network of Young Americans ready to engage in electoral activism. “My generation is Ready for Ron to continue defending freedom and liberty - just as he has done in Florida – but on the national stage. Since the onset of the COVID-19 pandemic, Governor DeSantis refused to kowtow to the radical Left, keeping the Sunshine State open for business and rejecting the impulse to impose onerous mask and vaccine mandates on citizens of the state. It revealed true bravery and respect for liberty, and that's why I support him now," Dylan Dean said. “By choosing guidelines over mandates, Governor DeSantis has given hope to college students like myself, who can now look to 2024 with newfound optimism that he will win the White House,” Dean continued. For those still in the college system or who just left it, we know what a broken system looks like and how important it is to solve the problems. Only strong leadership can get that job done.” “We are thrilled to have Dylan involved with this effort,” stated Ready for Ron Chief Political Strategist Ed Rollins. We need more younger people involved to grow a powerful apparatus nationwide to draft and elect Ron DeSantis for President. Their future and ours depend on it.” Since its launch in late May, Ready for Ron has enlisted nearly one hundred thousand supporters, generated significant media attention, and run hundreds of ads to convince Ron DeSantis to run for President. Ready for Ron has emerged as the only credible independent organization in support of a Ron DeSantis candidacy. Americans are encouraged to sign the petition at ReadyForRon.com to draft Ron DeSantis to run in 2024. ### Contact Details Dan Rene +1 202-329-8357 dan@readyforron.com Company Website https://www.readyforron.com/

October 18, 2022 08:45 AM Eastern Daylight Time

TRUST & WILL PROBATE CREATES THE FIRST DIGITAL PLATFORM FOR BOTH ESTATE PLANNING AND SETTLEMENT

Trust & Will

Trust & Will, the leading digital estate planning platform, today announced the launch of Trust & Will Probate, which provides online estate settlement and probate assistance. This product addition makes Trust & Will the first U.S. company to offer both digital estate planning and estate settlement benefits in one platform. Probate is the legal process a person’s estate goes through after they pass away to distribute their assets to the proper heirs. There are estimated to be more than one million new probate cases in the U.S. each year, with up to 30% of deaths having to go through probate. The average time to settle an estate using a traditional attorney takes up to 14 months and roughly $10,000 in legal fees. “For most of us, the process of inheriting wealth is complicated and antiquated. Trust & Will has revolutionized the estate planning industry since 2017, and now we are working to make the probate process simple, affordable, and convenient,” said Cody Barbo, Founder and CEO of Trust & Will. “In launching Trust & Will Probate, we will provide heirs and estate executors with a clear path to receive an inheritance through our comprehensive estate planning and settlement platform.” The launch of Trust & Will Probate comes on the heels of the company’s recent acquisition of EZ-Probate, the nation’s leading digital probate settlement provider. It also coincides with the company’s fifth anniversary. Since its founding in 2017, Trust & Will has helped hundreds of thousands of families create an estate plan to leave their legacy. Trust & Will Probate offers three tiers of service to accommodate a variety of budgets and estate sizes, with plans starting at $275 and ranging from self-guided prompts to comprehensive attorney support. Probate is currently available in 17 states and will be nationwide by the end of 2022. To learn more, visit trustandwill.com/probate. ABOUT TRUST & WILL Trust & Will is simplifying estate planning and settlement with attorney-approved, legally valid documents and processes designed to adhere to individual state guidelines. Since 2017, we’ve helped hundreds of thousands of Trust & Will members leave their legacy with an affordable way to create an estate plan or settle the estate of a loved one. Our platform uses bank-level encryption that protects customer data and complies with the highest security standards, including SOC2. Trust & Will is the official estate planning benefit provider for AARP members, along with several leading financial institutions, who all believe in our mission of helping every family leave their legacy. To learn more, visit trustandwill.com. Trust & Will is an online service providing legal forms and information. We are not a law firm and we do not provide legal advice. Contact Details Trust & Will Danielle Nuzzo +1 631-807-7772 danielle@trustandwill.com Company Website https://trustandwill.com

October 18, 2022 07:30 AM Eastern Daylight Time

Volatus Aerospace Expands into UK with the Acquisition of iRed® Remote Sensing, a Leading Thermographic Survey Company

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") announced today that it has signed an arm’s length definitive agreement dated Oct 17, 2022 to acquire iRed Limited, a drone services and training company based in Emsworth, England (“iRed”). This acquisition provides a foundation for continued growth in the region and reinforces Volatus’ overall thermographic capabilities. “We began our expansion in the UK earlier this year with the addition of a seasoned business development executive, Steve Emerson, to build our presence and provide regional leadership. iRed is an established brand with a solid base of resources from which to grow that will enhance our global capabilities in thermography,” said Glen Lynch, CEO of Volatus Aerospace. “Thermography is in high demand in verticals like public safety, forestry, infrastructure, and agriculture. These use cases are only growing as drone capabilities mature and there is higher demand to reduce greenhouse gas emissions through early detection via thermographic imaging.” Founded in 2001, iRed started as a company specialized in infrared technologies, training, and services. While infrared training and inspection remains a core competency of the company, the advent of drones provided enhanced opportunity for thermography, which ultimately led to the expansion of the company into a variety of drone related services, equipment sales, and a diversified customer base. iRed is targeting year-end revenues of $1M with an EBITDA margin of 7%. “I’m very proud of what iRed has accomplished over the past 20 years,” said Ray Faulkner, President of iRed. “Joining Volatus will provide us with the resources necessary to take our company to the next level. We look forward to expanding our product offering, growing our service business, and pushing our training programs to the larger global market. Volatus Aerospace shares our commitment to sustainability and reducing our carbon footprint, and we look forward to what we can accomplish together.” Under the terms of the agreement, Volatus will make an equity investment of £100K in iRed in exchange for newly issued shares (treasury shares) that will represent 51% of all outstanding shares. The investment will be used by iRed for ongoing expansion activities. The transaction is scheduled to close October 31 st, subject to board of director, regulatory, and TSX approvals. Volatus will assume over all long-term debt obligations of £221K and the seller is subject to operational and financial metric as defined in the definitive agreement, at one year anniversary, the iRed investor(s) will have an option to sell remaining 49% for up to £125K in exchange of Volatus shares at a valuation of $0.65 per share or 12 months anniversary price, whichever is lower. This news marks another geographic expansion for Volatus following the announcement of their joint venture in Latin America in June of this year as well as their commitment toward offering green solutions to their clients. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. Through our subsidiary, Volatus Aviation, we are introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections such as pipeline, energy, rail, and cargo services. Volatus is committed to carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance. Forward-Looking Statement This news release contains statements that constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements 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 Company; 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 Company 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 Company, 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 and forward-looking statements reflect the Company’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 commercialization of drone flights beyond visual line of sight and potential benefits to the Company; and meeting the continued listing requirements of the TSXV. Although the Company 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 Company 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. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Abhinav Singhvi +1 833-865-2887 abhinav.singhvi@volatusaerospace.com Company Website https://volatusaerospace.com

October 18, 2022 06:30 AM Eastern Daylight Time

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