Marti Releases First Sustainability Report

Company outlines strategy in developing Smarter Mobility, Cleaner Cities, and Safer Rides

Marti Technologies Inc. (“Marti” or the “Company”) (NYSE American: MRT), Türkiye’s leading mobility super app, offering ride hailing and a large fleet of shared electric two-wheel vehicles, today released its first Sustainability Report. The report highlights Marti’s 2022 sustainability achievements as well as the Company’s future commitments and is available on the Sustainability tab of the Company’s investor relations website at https://ir.marti.tech/sustainability.

“We are proud to present our first Sustainability Report, a testament to our commitment towards building a more sustainable and responsible future,” said Alper Oktem, Founder and CEO of Marti. “We believe that everything on wheels will be electric and everything electric will be shareable. At Marti, our focus is offering transportation solutions with the goal of enhancing energy efficiency and reducing carbon emissions. We recognize the importance of sustainability and social impact, and our aim is to integrate these core tenets into our business decisions. Marti is committed to be at the forefront of Türkiye’s transformation in transportation, advancing the adoption of electric and shared vehicles. This is how we will maintain our position as the top mobility app for millions of people across the country.”

The report addresses several key areas of focus, namely: Smarter Mobility, Cleaner Cities, and Safer Rides.

Building upon the Company’s strength and performance across various dimensions of sustainability, Marti introduced its sustainability initiative “Move Forward. Together” this year. This initiative offers a roadmap for sustainable growth founded upon three strategic pillars: Smarter Mobility, Cleaner Cities, and Safer Rides. Within this framework, the Company aims to increase the accessibility of its vehicles (smarter mobility) while reducing its environmental impact and promoting sustainable transportation (cleaner cities) to increase safety for both riders and non-riders (safer rides).

From an environmental perspective, Marti’s efforts have already contributed to avoiding approximately 1,600 tons of CO2 emissions in 2022. This is comparable to the CO2 absorption of approximately 72,000 fully grown trees. Our analysis highlights that Marti’s e-bikes and e-mopeds exhibit a 40% lower environmental impact than an average urban transportation journey in Türkiye, while its e-scooters indicate an 18% reduction in CO2 emissions compared to alternative modes of urban transportation in the country.

Marti is working towards achieving net-zero Scope 1 and Scope 2 emissions by 2030 with a goal to launch net-zero inbound logistics operations by 2023 within Scope 3 emissions. To make essential safety guidelines available to its riders and consumers, Marti is integrating its safety resources onto a comprehensive online platform to be unveiled as the “Marti Safety Academy” in 2024. Marti also aims to achieve an expansion of e-scooter parking locations by 300 by 2025.

The Sustainability Report addresses a range of critical areas, including supply chain, employee relations, R&D initiatives, customer satisfaction mechanisms, and more. To increase operational efficiency, Marti launched a tracking mechanism that allows the Company to closely monitor its field operations and manage its workforce more accurately to improve productivity. Marti provided its field team with 1,480 hours of Occupational Health and Safety (OHS) training while providing 6,000 hours of training to its subcontractors.

The Sustainability Report offers a solution within the circular economy as the Company is diligently managing its raw materials and preventing waste. Marti seeks to achieve a goal of achieving a 0% landfill rate by 2030 through reuse, repair, or recycling of all materials. This is due to collaboration with external recycling firms to responsibly manage the Company’s waste, currently resulting in a 0% landfill rate for all outputs of its processes. In 2022 alone, Marti provided its certified recycling partner with over 109.9 tons of waste, including mixed metals, lithium-ion batteries, electronic waste, paper/cardboard, plastics, mixed packaging waste, and rubber.

Marti seeks to incorporate sustainability into each business decision and is resolute in altering Türkiye’s transportation landscape to promote more sustainable travel for generations to come.

About Marti Technologies, Inc.

Founded in 2018, Marti is Türkiye’s leading mobility app, offering multiple transportation services to its riders. Marti has launched a ride hailing service that matches riders with drivers traveling in the same direction and operates a large fleet of e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are serviced by proprietary software systems and IoT infrastructure. For more information visit www.marti.tech.

Cautionary Note Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, also known as the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact and generally relate to future events, hopes, intentions, strategies, or performance may be deemed to be forward-looking statements, including but without limitation to statements regarding our ability to achieve the sustainability targets, goals, objectives or programs set forth under our sustainability strategy, “Move Forward. Together,” and descriptions of the Company’s plans, initiatives or objectives for future operations, or the timing of occurrence related to any of the foregoing. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “might,” “possible,” “believe,” “predict,” “potential,” “continue,” “aim,” “strive,” and similar expressions may identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expressed or implied forwarding-looking statements, including, but not limited to: (i) the effect of the public listing of our securities on our business relationships, performance, financial condition and business generally, (ii) risks that the business combination may disrupt our current plans or divert management’s attention from our ongoing business operations, (iii) the outcome of any legal proceedings that may be instituted against us or our directors or officers related to the business combination or otherwise, (iv) our ability to maintain the listing of our securities on the NYSE American, (v) volatility in the price of our securities due to a variety of factors, including without limitation changes in the competitive and highly regulated industries in which we currently or plan to operate, variations in competitors’ performance and success and changes in laws and regulations affecting our business, (vi) our ability to implement business plans, forecasts, and other expectations, and identify opportunities, (vii) the risk of downturns in the highly competitive tech-enabled mobility services industry, (viii) our ability to build our brand and consumers’ recognition, acceptance and adoption of our brand, (ix) the risk that we may not be able to effectively manage our growth, including our design, research, development and maintenance capabilities, (x) technological changes and risks associated with doing business in an emerging market, (xi) risks relating to our dependence on and use of certain intellectual property and technology and (xii) and other important factors discussed under the caption “Risk Factors” in the Company’s preliminary prospectus filed with the Securities and Exchange Commission (the “SEC”) on July 31, 2023, as such factors may be updated from time to time in the Company’s other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Company’s website at https://ir.marti.tech. Any investors should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC as most of the factors are outside the Company’s control and are difficult to predict. As a result, the Company’s actual results may differ from its expectations, estimates and projections and consequently, such forward-looking statements should not be relied upon as predictions of future events. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as to management expectations and beliefs as of the date they are made. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

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