RIYADH, Saudi Arabia: February 15

In a joint effort to develop a full decarbonization roadmap for PepsiCos fleet in the MENA Region, PepsiCo, a globally leading food and beverage manufacturer, and National Transportations Solutions Company (NTSC), a Petromin portfolio company, signed a wide-ranging Memorandum of Understanding (MoU), and commenced the decarbonization process with the launch of the first Electric Commercial delivery truck pilot in Saudi Arabia. The MOU signing was attended by Aamer Sheikh, CEO of PepsiCo Middle East, Kalyana Sivagnanam, the Group CEO of Petromin Corporation, Gary Flom, CEO NTSC, and representatives from the Ministry of Environment, Water and Agriculture (MEWA), , MODON and the Ministry of Investment. PepsiCos collaboration with NTSC will pilot a state-of-the-art 4-ton Quantron EV truck in Saudi Arabia, acting as the first step towards integrating EVs into PepsiCos fleet in an effort to ultimately reduce carbon footprint in line with Saudi Vision 2030. PepsiCo has been a key innovator supporting the creation of a circular and inclusive value chain to meet aggressive sustainability goals, including net-zero emissions by 2040. This journey underlines PepsiCos commitment to pep+ (PepsiCo Positive), its strategic, end-to-end transformation strategy with sustainability at the center to create growth and value.

Aspirations with the initiative

NTSC is a leading technology company that utilizes new energy economics discipline and Internet of Things (IoT) fleet management systems for enabling B2B and B2G sectors to decarbonize their entire fleets through transition to BEV FCEV commercial vehicle platforms. Supported by optimal charging and green H2 refueling infrastructure, NTSC is an active contributor to the achievement of the sustainability goals of Saudi Vision 2030. Through this partnership, PepsiCo will aid the process of reducing and eventually eliminating the collective carbon footprint. This emphasizes PepsiCos pep+ transformation strategy, which aims to build a positive value chain by operating within planetary boundaries and inspiring positive change for the planet and people. A commitment to sustainability and Vision 2030, this partnership strives to work towards reducing the collective carbon footprint. PepsiCo has taken significant steps to utilize renewable energy in its Riyadh Snacks plant and continues to do so to meet the objectives. In 2022, PepsiCos Riyadh plant replenished 100% of the water it consumed annually back into the local watershed. This accomplishment accounts for 65% of the Kingdoms total water usage by the snacks business. Following the MoU singing, a truck bearing Lays sustainability branding will be unveiled and subsequently will tour Riyadh and Jeddah.

Comments from the leadership

Aamer Sheikh, PepsiCo CEO, Middle East, commented We are excited to join forces with NTSC and Quantron in this pioneering move and contribute to finding solutions that can lower the carbon footprint in Saudi Arabia. Our commitment to sustainability is rooted in our belief that the only way to ensure a bright future for our planet and its inhabitants is to adopt sustainable practices wherever possible. We have been present in Saudi Arabia for over 65 years and are committed to driving the Vision 2030 goals through our pep+ initiative. With the Saudi Green Initiative in mind, it is empowering for us to grow our sustainability programs in the Kingdom to create and innovate, to achieve a green future. Gary Flom, CEO NTSC expressed his support by saying,Our joint effort with PepsiCo is in line with Saudi Vision 2030 and is a testament to our commitment to reducing the collective carbon footprint and driving towards a net zero emissions future. NTSC is the first and only fleet mobility solutions company in the GCC with the ability to develop complete carbon optimization and decarbonization roadmaps. In fact, we are confident that this initiative will result in numerous other major companies following PepsiCos lead to decarbonize their fleets and thus transition to a nature positive business model and contribute to the betterment of our planet and all of its inhabitants. Thank you PepsiCo and the Kingdom for including strong environmental improvement goals in the Vision 2030 program. Across the MENA region, PepsiCo is increasing its activity in creating a more sustainable food system, spearheading the movement towards eco-friendly consumption within a circular economy. The MoU with NTSC will further support Vision 2030 creatively and responsibly meet current and future energy and climate challenges.

About PepsiCo

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than US$70 billion in net revenue in 2020, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. PepsiCos product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than US$1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. Winning with Purpose reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business. For more information, visit Pepsico.

About Petromin Corporation

Petromin is the leading Saudi mobility solutions provider with an unmatched reputation for the highest quality products and services in the industry today. Operating in the Kingdom of Saudi Arabia, since 1968, it started building its name by producing the highest quality lubricants in the region which grew overtime into a large mobility solutions provider to cover the entire automotive journey of the customer. With more than 6000 employees, Petromin exports its products to over 40 countries in the GCC, Middle East, Africa, and Asia, with fast and reliable vehicle maintenance services backed by an extensive network of service centers that provide unparalleled coverage across the region. Follow Petromin on social media: Twitter: @Petromincorp Instagram: @ Petromincorp Facebook: @ Petromincorppetromins://petromin

About NTSC

National Transportation Solutions Company (NTSC) one of Petromin Corporations subsidiaries, is the leading technology company specializing in advanced fleet management, cutting edge sustainable multi-modal mobility solutions including autonomous driving, pre-programmed vehicle maintenance, fleet Carbon footprint reduction, and is a transformative force for the movement of people, goods and services through ecologically sound platforms. Being an active contributor to the achievement of the sustainability goals outlined in the KSAs Vision 2030 we aspire to enable full sustainable mobility for the commercial and government fleets in the Kingdom.

Visit NTSCs website at:NTSC

About Quantron

Quantron AG is a platform provider and specialist for sustainable mobility for people and goods; in particular for trucks, buses and vans with fully electric powertrains and H2 fuel cell technology. As a high-tech spinoff of the renowned Haller KG, the German company from Augsburg in Bavaria combines over 140 years of commercial vehicle experience with state-of-the-art e-mobility know-how and positions itself globally as a partner to existing OEMs. QUANTRON stands for the core values Reliable, Energetic, Brave. The team of experts at the innovation driver for e-mobility is making a significant contribution to sustainable, environmentally friendly passenger and freight transport. You can find more information at quantron