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Freight Technologies, Inc. Expands Relationship with Leading Glass Container Manufacturer to Incorporate Canadian Routes

Recurring business validates Fr8App’s efficacy and establishes new Canadian business.

HOUSTON – OCT 26, 2022 — Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech”), a technology company offering its custom-developed Fr8App platform, which is powered by AI and machine learning and offers a real-time portal for B2B cross-border shipping and domestic shipping within the United States-Mexico-Canada (“NAFTA”) region, announces the expansion of its commercial relationship with an American Fortune 500 glass container manufacturing company based in Ohio.

Javier Selgas, CEO of Fr8Tech, said, “Since early 2021, the Fr8App platform has supported the logistics efforts of one of the world’s leading manufacturers of glass containers and packaging products. Our relationship to date involved the use of Fr8App’s platform addressing logistics needs in the US/Mexico corridor, primarily south-bound exports into Mexico. After working with the Fr8App platform and the Fr8Tech team, the relationship will be extended to include additional needs across the US/Canada border, north-bound into Canada. By addressing the logistics needs in one part of our customer’s operations, the southbound operations across the US/Mexico border, we are able to provide “proof of concept” and execute on our strategy to deepen customer relationships, deliver additional services on the Fr8App platform and increase our assignments and the breadth of services. After favorable experiences with our Fr8App platform, our customers expand the scope of their operations on our platform which helps improve the efficiency and transparency of their operations and at the same time increases the overall use of our platform and our company’s revenues. We are proud to continue assisting this market leader in its sector, and are excited about increasing the scope of services we offer to this particular client across the NAFTA region. We believe recurring business validates our product offerings and paves the path for future, sustainable growth.”

About Freight Technologies

Freight Technologies (Nasdaq: FRGT) (“Fr8Tech”) is a technology company offering a diverse portfolio of proprietary platform solutions that incorporate AI and machine learning tools to optimize and automate aspects of the supply chain process. Focused on addressing the distinct challenges within the supply chain ecosystem, the Company’s portfolio of solutions includes the Fr8App platform for over-the-road (OTR) B2B cross-border shipping across the USMCA region; Fleet Rocket, a nimble, scalable and cost-effective Transportation Management System (TMS) for brokers, shippers, and other logistics operators; Fr8Radar, a GPS integration and shipment visibility module within Fleet Rocket that enables real-time tracking of in-transit freight across the U.S.-Mexico corridor; Zayren, an AI-based, pricing-prediction tool and carrier-matching platform designed specifically for cross-border and domestic OTR freight shipments across Mexico and the United States; and DODA Smart, an AI-assisted customs compliance platform to monitor, verify and trace Digital Customs Documents (DODAs) for trade operators in Mexico. Each product is interconnected within a unified platform to connect carriers and shippers and significantly improve matching and operational efficiency via innovative technologies such as live pricing, real-time tracking, digitization of critical documentation, brokerage support, transportation management, fleet management, and committed capacity solutions.

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. Actual results may differ from expectations, estimates and projections, and you should not rely on these statements as predictions of future events. These statements involve risks and uncertainties, most of which are outside the Company’s control and difficult to predict. Factors that may cause such differences are identified in the Company’s filings with the U.S. Securities and Exchange Commission. Freight Technologies cautions readers not to place undue reliance on any forward-looking statement, which speaks only as of the date made, and undertakes no obligation to update or revise any of them.

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