A2Z Smart Technologies Corp. Announces Corporate Update

News Follows: A2Z Cust2Mate Expands to Serve Demand in U.S. Retail Market with New Leadership Team*

TEL AVIV, ISRAEL / ACCESSWIRE / August 25, 2023 / A2Z Smart Technologies Corp. ("A2Z") ("Company"), (NASDAQ:AZ)(TSXV:AZ), A2Z Smart Technologies Corp. (NASDAQ:AZ) is making significant strides in the retail sector, transitioning from purely research and development to becoming a prominent global leader as smart shopping cart platform provider. Recent achievements, including mass manufacturing capabilities and the leadership of Guy Mordoch, CEO of Cust2Mate smart cart business, are driving exceptional growth and reshaping the retail industry. The following is an update on key corporate developments reflecting on our journey.

Kit Cart - Modular Cart Advancements and Mass Production

We have made substantial strides in advancing our new-generation modular cart. This includes streamlining the mass production process, resulting in cost efficiencies and enhanced retrofitting capabilities. Cust2Mate is on course to introduce a modular detachable cart, incorporating cutting-edge features such as RFID technology, AI integration, expanded value-added services, and more.

Monumental Corporate Transition

Cust2Mate is completing a major transition: from the R&D stage to a growth and scale stage; from a hardware company to a software platform and digital services company; from a local company to a global company.

To bolster this transition, we have hired a global Supply Chain Manager, launched a North American focused team (see below), add a Channels & Alliances Manager and other new team members globally.

Update on Client Yochananof:

• A2Z has successfully fulfilled the existing revised order for 1,300 smart carts, receiving positive feedback from both the retail side and the shoppers.
• Yochananof has informed Cust2Mate of plans to acquire an additional 1,700 smart carts.
  • *Original Press Release: https://bit.ly/azclient3
• According to data from Yochananof, the value derived from using the smart carts has surpassed initial projections and expectations. Key metrics include:
  • 73% customer retention rate
  • Customer satisfaction score of 4.1 out of 5
  • Average purchase volume in smart carts is 158% that of regular checkouts and 171% of self-checkouts
  • Improved insights into customer behavior and shopping patterns while in-store

Financial Highlights: