Rubicon and City of Phoenix Announce Smart City Partnership to Drive Cost Savings, Efficiency, and Innovation in Public Works Operations

Rubicon’s smart city technology will power solid waste collection in America’s fifth largest city, digitizing workstreams and enabling greater efficiency in an operation that services more than 418,000 locations every week

Rubicon Technologies, Inc. (“Rubicon” or the “Company”) (NYSE: RBT), a leading provider of software-based waste, recycling, and fleet operations products for businesses and governments worldwide, today announced that it has entered into a five-year smart city partnership with the City of Phoenix, Arizona (the “City”) to digitize and improve efficiencies across the City’s solid waste collection operation.

The agreement will put Rubicon’s smart city software at the heart of Phoenix’s Public Works Department, providing waste and recycling collection to more than 418,000 locations weekly. Rubicon will help the City digitize its solid waste collection operation, transitioning from largely manual and paper-based processes to using tablets running Rubicon’s software in Phoenix’s solid waste and recycling fleet of more than 300 vehicles. The City will use Rubicon’s technology to streamline collection services, and reduce missed pickups and unnecessary go-backs. With digital routes, the City will be able to closely monitor route performance, identify areas where waste and recycling services can be improved, and make data-driven decisions to enhance route efficiency and better serve the Phoenix community.

“We are excited to move our solid waste collection operations to Rubicon’s digital, cloud-based system,” said Felipe Moreno, Assistant Public Works Director for the City of Phoenix, Arizona. “Rubicon’s smart city technology will empower us to efficiently manage our entire fleet of collection vehicles, optimize routes, and enhance our waste and recycling services. By harnessing the power of data-driven decisions enabled by Rubicon, Phoenix is dedicated to delivering customer-focused solutions for our community.”

RUBICONSmartCity™ is the smartest way for cities, counties, and other municipalities to manage heavy-duty fleets. It is a proprietary, cloud-based technology suite that helps local governments run faster, smarter, and more effective waste, recycling, and heavy-duty municipal fleet operations. It helps government-owned fleets improve neighborhood streetscapes by monitoring vehicle health, improving driver behavior, and ensuring that materials are collected efficiently. The results: fewer vehicle accidents, less road wear, and safer communities.

The addition of Phoenix to the RUBICONSmartCity platform follows a string of new city customer announcements for Rubicon, including the cities of Houston, Miami, Atlanta, and Denver, as well as almost a dozen mid-sized cities that were added to the Company’s municipal customer list in the first quarter of 2023. More than 100 cities across the United States have deployed Rubicon’s technology to improve core municipal operations, including eight of the top 20 U.S. cities by population.

“We are proud to partner with the City of Phoenix to bring our innovative smart city technology to solid waste operations in America’s fifth largest city,” said Conor Riffle, Senior Vice President of Smart Cities at Rubicon. “Solid waste collection is one of the most critical services for cities, and our cutting-edge technology helps them deliver this service more efficiently, effectively, and sustainably. This collaboration reaffirms our commitment to supporting cities like Phoenix as they embrace technological advancements to build smarter and more sustainable communities.”

For more information on Rubicon’s smart waste and recycling, street sweeping, and snow plowing capabilities, visit the governments page on the Company’s website.

About Rubicon

Rubicon Technologies, Inc. (NYSE: RBT) is a leading provider of software-based waste, recycling, and fleet operations products for businesses and governments worldwide. Striving to create a new industry standard by using technology to drive environmental innovation, the Company helps turn businesses into more sustainable enterprises, and neighborhoods into greener and smarter places to live and work. Rubicon’s mission is to end waste. It helps its partners find economic value in their waste streams and confidently execute on their sustainability goals. To learn more, visit rubicon.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and 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. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon current expectations, estimates, projections, and assumptions that, while considered reasonable by Rubicon and its management, are inherently uncertain; factors that may cause actual results to differ materially from current expectations include, but are not limited to: 1) the outcome of any legal proceedings that may be instituted against Rubicon or others following the closing of the business combination; 2) Rubicon’s ability to meet the New York Stock Exchange’s listing standards following the consummation of the business combination; 3) the risk that the business combination disrupts current plans and operations of Rubicon as a result of consummation of the business combination; 4) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; 5) costs related to the business combination; 6) changes in applicable laws or regulations; 7) the possibility that Rubicon may be adversely affected by other economic, business and/or competitive factors, including the impacts of the COVID-19 pandemic, geopolitical conflicts, such as the conflict between Russia and Ukraine, the effects of inflation and potential recessionary conditions; 8) Rubicon’s execution of anticipated operational efficiency initiatives, cost reduction measures and financing arrangements; and 9) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K, Registration Statement on Form S-1, as amended, filed with the SEC, and other documents Rubicon has filed with the SEC. Although Rubicon believes the expectations reflected in the forward-looking statements are reasonable, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward looking statements will be achieved. There may be additional risks that Rubicon presently does not know of or that Rubicon currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements, many of which are beyond Rubicon’s control. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Rubicon does not undertake, and expressly disclaims, any duty to update these forward-looking statements, except as otherwise required by applicable law.

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