Shareholder FAQ: Exro Merger with SEA Electric

Exro Technologies Inc. is a leading clean technology company that has developed new generation power electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies bridge the performance-cost gap in e-mobility (Coil Driver) and energy storage (Cell Driver) to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results.

Exro Technologies Inc. is expanding with four current locations across North American markets. Exro’s Manufacturing Facility is located in Calgary, AB, Canada. Exro’s two Innovation Centers are located in Calgary, AB, Canada and Mesa, AZ, USA. Exro Vehicle Systems is located in Dexter, MI, USA. More information on Exro’s offices and headquarters can be found on the Contact Us page.

Exro has over 100 employees across all of its locations. Exro has been actively onboarding new employees including roles in engineering, supply chain, application engineering, finance, and marketing.

Exro Technologies shares can be found in both Canada and US stock markets. In Canada, TSX: EXRO and in USA, OTCQB: EXROF. More investor-related information can be found on Exro’s Investors page and on the Stock page.

Exro Technologies has developed a new dynamic controller, the intelligent Coil Driver™ , that replaces the standard controller of an electric motor. The Coil Driver™ automatically, in real-time, and under demand, selects the appropriate configuration so that torque demand and efficiency are optimized in electric motors. Essentially, the Coil Driver™ makes EVs perform better and cost less.

Exro’s Cell Driver^™ is an energy storage system with an innovative battery management inverter combined with an advanced cell control software. Cell Driver^™ expand the capabilities of batteries by enabling a greater depth of control on the cells. As more electric vehicles reach the end of first life, there is a growing number of batteries that can be utilized for second life energy storage. The Cell Driver^™ equipped with the Exro Battery Control System^™, can lead the rapidly growing energy storage markets by reducing total costs and downtime, increasing reliability, and extending battery life for both first life and second life batteries in energy storage.

Exro Vehicle Systems, a division of Exro Technologies, provides engineering services for the design, development, integration, and verification of electrified power systems. Focusing on safety, systems, electrical, and controls engineering, the division is a high value product development partner for organizations pursuing mobility product electrification.

Exro has an extensive global patent-protection portfolio with over 37 patents published and pending. Exro also possesses technology dense intellectual property, trademarks and trade secrets on hardware and software.

Exro has a multi-path to revenue business model which includes low-volume manufacturing with our commercial partners, Engineering services for all partners, and high-volume manufacturing and licensing with strategic partners. Some of our current partners are Linamar, Wolong Electric, Greentech Renewables, Traktionssysteme Austria (TSA), SEA Electric, Vicinity Motor Corp (VMC), HB4, Professional Solar Products, and Inferno Solar.

Exro Technologies Inc. is a leading clean technology company that has developed new generation power electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies bridge the performance-cost gap in e-mobility (Coil Driver) and energy storage (Cell Driver) to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results.

Exro Technologies Inc. is expanding with four current locations across North American markets. Exro’s Manufacturing Facility is located in Calgary, AB, Canada. Exro’s two Innovation Centers are located in Calgary, AB, Canada and Mesa, AZ, USA. Exro Vehicle Systems is located in Dexter, MI, USA. More information on Exro’s offices and headquarters can be found on the Contact Us page.

Exro has over 100 employees across all of its locations. Exro has been actively onboarding new employees including roles in engineering, supply chain, application engineering, finance, and marketing.

Exro Technologies shares can be found in both Canada and US stock markets. In Canada, TSX: EXRO and in USA, OTCQB: EXROF. More investor-related information can be found on Exro’s Investors page and on the Stock page.

Exro Technologies has developed a new dynamic controller, the intelligent Coil Driver™ , that replaces the standard controller of an electric motor. The Coil Driver™ automatically, in real-time, and under demand, selects the appropriate configuration so that torque demand and efficiency are optimized in electric motors. Essentially, the Coil Driver™ makes EVs perform better and cost less.

Exro’s Cell Driver^™ is an energy storage system with an innovative battery management inverter combined with an advanced cell control software. Cell Driver^™ expand the capabilities of batteries by enabling a greater depth of control on the cells. As more electric vehicles reach the end of first life, there is a growing number of batteries that can be utilized for second life energy storage. The Cell Driver^™ equipped with the Exro Battery Control System^™, can lead the rapidly growing energy storage markets by reducing total costs and downtime, increasing reliability, and extending battery life for both first life and second life batteries in energy storage.

Exro Vehicle Systems, a division of Exro Technologies, provides engineering services for the design, development, integration, and verification of electrified power systems. Focusing on safety, systems, electrical, and controls engineering, the division is a high value product development partner for organizations pursuing mobility product electrification.

Exro has an extensive global patent-protection portfolio with over 37 patents published and pending. Exro also possesses technology dense intellectual property, trademarks and trade secrets on hardware and software.

Exro has a multi-path to revenue business model which includes low-volume manufacturing with our commercial partners, Engineering services for all partners, and high-volume manufacturing and licensing with strategic partners. Some of our current partners are Linamar, Wolong Electric, Greentech Renewables, Traktionssysteme Austria (TSA), SEA Electric, Vicinity Motor Corp (VMC), HB4, Professional Solar Products, and Inferno Solar.