Darrell Bishop, Seasoned Capital Markets Professional, Joins Exro as President, Finance and Investor Relations

• Exro is pleased to welcome Darrell Bishop as President, Finance and Investor Relations.
• Bishop brings extensive capital markets experience to the role, building his career in equity research and investment banking roles with major banks and industry-leading independent investment firms.
• As part of the executive team in his role as President, Finance & Investor Relations, Bishop will lead Exro's finance and capital markets strategy, ensuring strategies are appropriately aligned with investors, regulators, analysts, and all external and internal stakeholders.

CALGARY, AB, Feb. 17, 2022 /CNW/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean technology company that has developed a new class of power electronics for electric motors and batteries, announced today that Darrell Bishop, a proven industry leader with extensive capital markets experience, joins the Exro team as President, Finance and Investor Relations. Bishop will be based of Exro's U.S. headquarters in Mesa, Arizona, but will equally split his time between the Company's Mesa, Arizona and Calgary, Alberta facilities.

Bishop is a seasoned investment industry professional with extensive experience in generating business results and leading teams, and brings strong financial and shareholder relations acumen to the Company. Bishop's early career consisted of technical engineering, and corporate development roles, prior to transitioning to capital markets. Since 2010, Bishop has held diverse roles with increasing responsibility in corporate finance and investor engagement, including: Head of Equity Research, Managing Director of Investment Banking, and Board Director at industry-leading independent investment firms.

In his role at Exro as President, Finance and Investor Relations, Bishop will lead the Company's finance and capital markets strategy, with the goals of broadening and enhancing shareholder value through a best-in-class shareholder engagement program. In addition to ensuring these strategies are appropriately positioned across all stakeholders, Bishop will also manage Exro's financial affairs, building a capital formation strategy to enhance production.

"With growing global demand for more sustainable low-carbon energy solutions, Exro's technology and culture of innovation positions the Company to become a leader in electric mobility and energy storage markets," said Bishop. "I am excited to join Exro as the company enters an exciting phase in its business growth with the team driving towards commercialization and product deployment. I look forward to leading the finance and capital markets strategies as our team executes on key operational milestones which hold the potential to unlock significant value for Exro shareholders."

"Exro is deeply committed to its shareholders and delivering on our promises, and the addition of this role reinforces our ability to deliver value to shareholders," said Exro CEO Sue Ozdemir. "We are thrilled to welcome Darrell to the Exro team. His comprehensive industry experience and capital markets background enable Darrell to look to the future with optimism and envision what is possible for Exro and its stakeholders."

Bishop holds a Bachelor's Degree in Mechanical Engineering from Memorial University, and a Master of Business Administration in finance from the University of Calgary.

About Exro Technologies Inc.

Exro is a clean technology company pioneering intelligent control solutions in power electronics to help solve the most challenging problems in electrification. Exro has developed a new class of control technology that expands the capabilities of electric motors, generators, and batteries. Exro enables the application to achieve more with less energy consumed.

Exro's advanced motor control technology, the Coil Driver^TM, expands the capabilities of electric powertrains by enabling intelligent optimization for efficient energy consumption. Exro is working with many partners from all over the world to bring their technology to the electric mobility industries and beyond.

For more information visit our website at www.exro.com.

Visit us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2020, and financial statements and related MD&A for the financial year ended December 31, 2020, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Exro Technologies Inc.

Contact Information: Investor inquiries: [email protected], Canada investors: Jake Bouma at 604-317-3936; United States investors: Vic Allgeier at 646-841-4220; Media inquiries: [email protected]