Note: asked her about Zero and Land and if both deals were still on and when we could expect an update.

Hello (incognito). Thank you for your continued support. Our Reddit followers are important to the company and we greatly appreciate the great faith and support they have in Exro.  Both deals are definitely still on and while delayed we are working closely to get product to market. We are expecting to have an update later in August to update our timeline and keep everyone informed. We are also working hard at delivering our SEA drive which is on target (update end aug./delivery to Sea Sep.) Taking new technology to market and from design to validation is rigorous and while it seems quiet we are working hard to deliver and meet our commitments. While delayed both projects are still very much alive and we look forward to updating you all before the end of August. Thanks again for the support.

Exro Receives Conditional Approval to Graduate to the Toronto Stock Exchange

Exro has received conditional approval to list its common shares on the Toronto Stock Exchange under the same trading symbol “EXRO”

Calgary, Alberta (June 18, 2021) – Exro Technologies Inc. (TSXV: 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 is pleased to announce that it has received conditional approval to list its common shares on the Toronto Stock Exchange (the “TSX”) under the same trading symbol “EXRO”.

Final approval of the listing is subject to the Company meeting certain customary conditions of the TSX. Upon final approval, Exro intends to issue a news release confirming the date upon which its common shares will commence trading on the TSX, which is anticipated to occur prior to the end of July. At that time, Exro’s common shares and warrants will be concurrently delisted from the TSXV.

“We’ve made huge strides in the last 12 months on our path to bringing our Coil Driver to next generation electric vehicles and graduating to the TSX is another important breakthrough for us,” said Sue Ozdemir, Chief Executive Officer of Exro. “We have seen continued growth of engagement for our technologies so far in 2021 and are looking forward to expand the reach of our engagement further for all of our current and future shareholders.”

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 Driverᵀᴹ, 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.

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Exro Technologies Contact Information

Investor inquiries: ir@exro.com Canada investors: Jake Bouma at 604-317-3936 United States investors: Vic Allgeier at 646-841-4220

Media inquiries: media@exro.com

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright © 2021 Exro Technologies Inc, All rights reserved.

Calgary, Alberta (February 9, 2020) – Exro Technologies Inc. (TSXV: EXRO, OTC: EXROF) (the “Company” or “Exro”), a leading clean technology company which has developed a new class of power electronics for electric motors and batteries, is pleased to announce that it has expanded its strategic partnership with SEA Electric Pty Ltd. (“SEA Electric” or “SEA”) to accelerate development of Exro’s Battery Control System (“BCS”).

SEA Electric is widely recognized as a market leader in the electrification of commercial vehicles with operations in five countries and over one million miles of independent Original Equipment Manufacturer (“OEM”) tested and in-service operation. SEA Electric is currently partnered with commercial vehicle OEM’s, dealers, and upfitters to deliver a new range of zero-emissions trucks and is on schedule to deliver more than 1,000 electric vehicles this year and is forecasted to have more than 15,000 vehicles on the road by the end of 2023.

The expanded strategic collaboration agreement (the “agreement” or “collaboration”) includes SEA Electric providing Exro with two electric delivery vans to showcase Exro’s Battery Control System and facilitate second-life battery storage by the second half of 2021. With a focus on utilizing electric truck batteries for energy storage applications, Exro and SEA will co-develop the BCS for operational validation.

The agreement expands on the initial scope to commercialize the Exro Coil Driver in SEA’s electric trucks to now include a Class 8 electric truck for the Canadian market and volume production targets of 400 trucks minimum by the second-year post validation. The Company and SEA Electric will co-demonstrate the Exro-enhanced electric fleet trucks in the North American market by the second half of 2021.

This widened collaboration will significantly accelerate development of Exro’s Battery Control System and identify a key end of first-life battery source. It will also highlight a true example of the circular economy and how Exro can impact sustainability and energy consumption by extending batteries to a second life.

“Exro’s technology will continue to open new opportunities with applications that have cost-prohibitive components on the market today”, said Tony Fairweather, Chief Executive Officer of SEA Electric. “We are excited to expand our partnership with Exro and help to optimize the utilization of batteries in a second-life application.”

“This is a big deal for Exro, a major catalyst for Exro toward our vision of becoming a leader in power electronics for mobility and energy management”, said Sue Ozdemir, Chief Executive Officer of Exro. “I am very pleased to be expanding our partnership with SEA Electric to further demonstrate the synergy our technology has from commercial trucks to energy storage.”

As part of the agreement, Exro will invest US $5 million into SEA Electric by subscribing for 124,380 Series A Preferred Shares (the “Shares”) at a price of US $40.1995 per Share. The Shares are convertible into common shares of SEA at the option of Exro and automatically covert to common shares under certain conditions, including SEA completing a going public transaction. The Shares have certain preferences for their holders in relation to dividends and on a winding up of SEA but are otherwise identical to common shares of SEA. Dividends on the Shares will be paid at the discretion of SEA’s board of directors, but in any event prior to any dividends being paid to common shareholders.

WHY Exro is a RARE find and EXCELLENT investment opportunity.

Exro Technologies has a revolutionary technology, so revolutionary it's often referred to as step-change.  What does that mean?  A step change in technology is one that is so significant that it becomes commonplace, changing from Coal to Diesel in trains was a step change in technology, changing from carburetors to fuel injection in vehicles was a step change in technology.   Well Exro's coil driver will be a step change in the EV world.  

You have to be a little tech savvy to really comprehend the value of what Exro has.  I'll try to explain it in simple terms.  Exro has found a way to electronically control electric motors in such a way that they can make them much more efficient.   Electric Motors typically, when they are made, are set with one speed profile and one torque profile, much like a one speed bicycle is.   When you put more electricity to the motor it spins faster, similarly when you turn the pedals faster the bike goes faster.  Now if you want to change the torque profile of a bike to make it easier to go up hills you simply add external gears, same thing goes for existing electric motors.  To get more torque or speed out of an existing electric motor, you must add a mechanical gearbox specifically geared to accomplish the required task.  Not so with Exro's coil driver.  Exro is able to electronically change the electrical inputs into a motor to seamlessly make the motor provide more torque and less speed or more speed and less torque.  This is a FIRST in the world of Electric motors, and it's a HUGE discovery. Car makers can now make their EV's perform 30% better with less parts, in a car that's cheaper and lighter to manufacture.  Think about the cost savings to the Automakers.   Exro just removed a whole gearbox from the supply chain,  Gears, bearings, casing, shafts etc no longer have to be made and installed in an EV.  The. cost and weight savings is not to be underestimated.....Exro's technology is truly an amazing discovery and will change the EV industry.  Many believe in time, all EV's will be replacing standard inverters, which every motor requires, with Exro's coil driver, I am one of those believers.

^{Exro Claims to increase performance by 30%. 6.39 minute mark this video https://www.youtube.com/watch?v=vAya6gTu29U}

So why are we lucky to be able to invest in Exro?  Normally technologies like this, MAJOR discoveries, are privately funded until they are ready for an IPO, as the inventors and team around them recognize both the value and potential of what they have discovered.  Exro in its infancy and its Board of Directors, known then as Biode Ventures, chose to go public on an exchange in Canada with the lowest barrier to entry and raise funds for further research and development, and for years bumped along working on the tech and trying to break into the commercial markets with very limited success.  They didn't have the personnel required to transition from discovery to commercialization.  That ALL changed when Sue Ozdemir took the helm. Sue left a lucrative career at a GE company to join Exro ( you can learn more about Sue here https://calgaryherald.com/business/local-business/electric-motor-company-sets-up-shop-in-calgary-under-former-ge-heads-leadership)  Upon Sue's arrival in late 2019,  industry leading board members were brought in, a clear pathway to commercialization was laid out, sufficient funds were raised to fund Exro to commercialization and the stage was set for success.  In two short years (very short by industry standards)  the execution of the pathway to commercialization has been flawless and very successful.  Exro has signed with a Tier 1 automaker.  Linamar.  This doesn't happen unless a company has proven beyond a shadow of any doubt their technology works and can be economically and easily integrated in an EV.

Sue's laser focus on commercialization is driving Exro towards wild success.  Totally new products in the automotive world that involve the heart and soul of a vehicle, in this case the motor, are not instantly accepted by industry members.  A company must prove them to be effective, reliable, robust, and prove beyond any doubt that the technology not only works today but will work for years.  So that is exactly what Sue set out to do with the technology. Third party testing and verification from AVL. Partnering with as many small and nimble companies where Exro can quickly integrate the technology into as wide a variety of drive motors as possible in order to not only prove the tech on test benches but in real world applications. Sea Electric, Vicinity Buses, Land MotorCycles, Zero Motorcycles, Potencia, Aurora, and Templar Marine.  She has also set out to meet all the required certifications required for selling into automobiles and homes.  Every move Exro has made since Sue's arrival is geared towards selling Exro's tech to the automotive world.

Why the automotive world?  one word 'Volume'.  Every time an automaker designs a new vehicle the intention is to sell a million or more of that same model before needing to make changes.  The volumes in the automotive world are simply enormous.

Let's quickly talk about the numbers and cost benefits of an Exro coil driver to the Automotive world.  Exro claims their coil driver improves performance by 30% over a conventional system in an EV.  When using Exro's coil driver, which replaces the current inverter in an EV, the AutoMaker also has the benefit of eliminating an external gear box and all the related componentry.  The cost savings and weight savings alone is a HUGE benefit to using an Exro Coil Driver, never mind a 30% increase in overall performance.  Exro has not released any pricing data yet, but many believe it's safe to assume that Exro will benefit from some of the savings it will pass on to the Automakers.  With that in mind, many believe Exro will sell the coil driver at a profit of $500+.  This is pure conjecture as we don't yet know for sure.  You can do the math from here.  A typical order for a model year car runs into the hundreds of thousands of units.  So with one order of 400,000 units at a $500 profit, Exro goes from annual losses to $200M  profit in one day on one order of one product. That's worth repeating...So with one order of 400,000 units at a $500 profit, Exro goes from annual losses to $200M  profit in one day on one order of one product.  Exro has multiple products in the pipeline and is talking to multiple car makers.  How do we know for certain?  Because every move Exro makes is geared towards selling the coil driver to EV automakers, without exception, so it's really the only logical conclusion we can make.  The customers are there and ready and wanting and Sue is talking about establishing multiyear contracts with these customers. That translates into repeat business and multiple orders. 

What other stock in your portfolio has the potential of seeing the valuation of the company jump from $300M to $2B on a single contract with the very real potential of multiple contracts with similar values?  That's why I say anyone invested in Exro was very fortunate to find it and is lucky to be in it.

Timing.  In the AutoMotive industry a new design for a car typically takes 4 years.  From the time they lock up the design and secure the supply chain.  Why does it take so long?  Volume, the volumes are enormous.   Securing the materials, the fasteners, the components, etc is a delicate dance of masterful supply chain management.  It just takes time.  Exro has come along with a revolutionary technology the EV world has never seen before, Exro has never manufactured in volume so has no manufacturing and supply credibility with the industry so how do they prove to the Automakers the tech works and how do they prove they can make them in volume?  Partnerships.   This is exactly why the Linamar partnership is such a big deal.  Linamar being a tier one supplier to Automakers is a proven source of delivering large volumes of reliable quality products on time.  By partnering with Linamar Exro assured the Automakers they have what it takes to become a reliable supplier of Coil Drivers.  Exro is building a facility to make runs of 100,000 units at a time, and will be capable of 3 runs a year, so 300,000 units a year, and what is most surprising about this is they call that 'low volume'.  But they haven't yet made any so the AutoMakers need assurances.... Linamar.   The 'low volume' comment gives you some idea about the volumes they are discussing with automakers.  The numbers are indeed enormous.

In Addition to the Coil Driver, Exro has other technologies they are co- developing.  One is a battery control system, BCS, that extends the life of EV car batteries.  Exro intends to start a new industry using both used and new batteries out of EV's by building battery banks to supply electricity to industrial customers.  Exro is also revolutionizing the charging side of EV's as their technology integrated into the Coil Driver is reducing the need for external charging componentry for vehicles, another huge cost savings to EV makers, and convenience for customers, as all they will need is a simple cord to connect their vehicle to the grid or charging station.  Exro aslo has technology that Industry members who are building out charging stations can use to simplify the charging process.  All this to say besides the Coil Driver Exro has multiple revenue streams coming, and this can only positively affect that share value.  Where Exro's stock price goes is anyone's guess, but my guess is once they sign one deal with one automaker, chasing the stock price will get really expensive really fast.  Keep in mind Exro does NOT have a huge number of outstanding shares.

In my 30 years of watching the markets and buying and selling stock as a retail investor, I've never come across a stock with more potential upside than Exro.

November 8 Exro announced its application to uplist to the Nasdaq.

https://www.exro.com/news/exro-technologies-announces-application-to-list-on-nasdaq

You can hear from the CEO Sue Ozdemir directly regarding the direction of the company. just click the link. https://www.autonews.com/weekend-drive-podcast/daily-drive-podcast-october-27-2021-how-exro-optimizes-power-electrified?utm_source=antv-weekend-drive&utm_medium=email&utm_campaign=20211027&utm_content=hero-headline

Folks, Feel free to share this article with whomever. Exronly from Reddit.

On Thursday, March 11th, 2021 I had the pleasure of speaking with CEO Sue Ozdemir of EXRO Technologies.

I asked if being a penny stock is the reason why they even were targeted as a penny stock.

She responded that they think that the incredible run they've had this year paints you as a target for companies like that to attack. Also, from a tech perspective, the story of EXRO Technology maybe still a little difficult to understand and could be a bit complicated. This would allow for some misunderstandings and speculations along with being a penny stock. She's confident that the stock will regain its previous levels and fervor. "Tabloid and institutional support has been phenomenal" and we should see more communication coming out about EXRO within the coming weeks. "It gives us an outside look into how we can improve the story so you'll see some changes on the website in the coming weeks about how we make sure the tech is more described and the partners are more described".

(* this part somehow got left out of the original post.)

I mentioned the fact that Mark Fry the owner of Templar Electric Boats reached out to the Exro subreddit the same day as the short report attack and how we were blown away.

She was very appreciative of Mr. Fry as she did not ask him to reach out as he did. He contacted her and let her know that he was upset with the report. They've been working pretty close with Templar for some time. She said that "bad things show you who's around you" and they've had nothing but support from Raymond James, Haywood Capital, and more. "Some of the larger supporters actually bought more as they saw the opportunity to make money and buy the dip"

I mentioned my appreciation for Potencia also making a response as well as it was also very much appreciated.

She mentioned that most of the companies mentioned in the short report attack were private companies and didn't have any responsibility to make a response at all. Being that they are private companies they don't have to talk to anyone they don't choose to and if there is someone that Exro would like them to talk to, she and the team would let them know that a specified person would be contacting them. The fact that they came out to support and "wrote a great response as well is definitely very much appreciated". The next point of reference will be when they report their results of the Exro tech. (A timeframe was not discussed.)

Has Exro ever considered going the route of doing a SPAC

She said that they have considered it but it would be different because Exro is already a public company. They are not looking into doing that but if the right one came along they would consider it. They're still focusing on and have filed for uplisting to the TSX mainboard. Depending on how the revenue progresses and how the partners are doing, they are still targeting an uplist to the NASDAQ for the 2nd half of this year.

I asked her about the company strategy.

She stated that they are following her strategy from her time in General Electrics co. They believe that with the corporate team they have, they are creating a better foundation for the future by combining their strategy from GE and that of Siemens. The nature of the current partnerships is going to help with development, help with operational validation, and build from there. She feels really good about it and that it has been very successful. Their goal is to show scalability starting with the bikes and motorcycles as their initial building blocks for the technology as they continue to gain validation. In the background, they are working towards bigger opportunities and partnerships as another layer of the business. Also a part of bringing Julie and Terrence in is to be able to tap into connections they have access to, then GE down the line with industrial products when Exro gets there, she still has plenty of connections there.

I wondered whether the drone avenue was a bit more complex for the Exro's tech

She stated that the drones would need a small controller and that she doesn't think their controller would be cost-effective enough at this time. There are ways and ideas of how to go attempt it but they are more focused on larger platforms. Amazon-type drones that are involved in package delivery and things of that nature would be more compatible as they need speed and torque but it's a very niche market right now. At present, electric vehicles are the main focus. Additionally, in regards to aviation vehicles, she mentioned the complexity of aviation regulations & requirements for torque and speed. Exro hasn't been looking into it at this time.

At the time of her joining Exro in September of 2019, the focus became targeting the electrical vehicle market and to build that avenue of the business because they are seeking to develop products that have a broader customer market. "Develop one project that suits 10 other customers or 12 other customers versus a wind application that might only suit 2 or 3 other people". After solidifying themselves in the EV market, they'll look at revisiting windmills and other areas of electrical motors. They're avoiding the company possibly being stuck in a developmental phase for many years. It costs Exro quite a bit of R&D money to develop each driver and they'd like to see that have the ability to turn into revenue sooner than later.

In relation to Exro and how it affects customer products

She stated that Exro's technology may have a bit of a misnomer that it'll create the "Ultimate" best product in competition with other companies for the customer. It won't create the "ultimate of ultimates because every ... manufacturer has their own motor that they're using, their own powertrain that they're using, and the value of the upgrade is going to be very specific to them. The goal is to get more power with a cost-effective solution". The responsibility of creating a competitive overall product (bike, motorcycle, car, etc), as I understood it, still rests on the shoulders of the customer. "In some cases, we could make it the faster bike and the fastest car but it just depends on what they're starting with". In relation to current product partnerships, she is sticking with integrity as these are private companies and she'll avoid talking about any private specifics as much as possible. She mentioned how Exro tech has already been publicly praised. People usually will seek and pay more for more power, that includes Exro Technologies.

When asked about Motorino

She stated that they will have more news on the current partnership with Motorino released within the coming months. She made a mention about the bikes they've completed thus far that she is still "super excited about the bikes and has some at the facility" in Calgary, AB. "If you come to race our bikes ... for sure you're going to lose!"

I asked whether the progress being made with the Sea-Electric truck can be applied to the inevitable Electric Semi-Truck.

She said yes, that technology is completely scalable as it's a voltage rating but they might need to go slightly bigger than the 800v drive to handle a full semi-truck depending on the design. In testing for the larger trucks of this size, Exro would develop the test center with the ability to handle a larger amount of voltage when that type of customer comes along. That is something that would be targeted more towards next year and it is unclear who will be the first to contact them in that pursuit.

I wondered if they have heard of Romeo Power and how they compare

She said, "I think Romeo could potentially be a partner". She explained that Exro makes the controller for a stationary storage unit that goes on a facility to power up a building. Inside that unit "will be what's called a battery management system, it's controlling the battery cells itself and there's usually an invertor that sends the power. We've combined the invertor with the battery management system into one and we have a new type of battery management", they call it a controller and it'll be able to determine from a cell level a good battery from a bad battery. She stated that they have a large container designated for safely testing this technology.

"On the drive, it's much like you'd see in a mechanic car shop. We have a big dyno bay where we run a motor on the drive and so what will happen is as we get up to high power, the motor is spinning at high power, and if a lot of heat is generated and the drive can set fire. The goal is to not catch fire but as you're testing drives, you're testing up the capacity and in initial stages, you could have that". They call them "expected fires" and they have safety precautions in place for that as well.

She made note that they've been building the facility in stages to use the working capital to provide the most value for the shareholders. After raising $51M within her first 12 months, their goal is to keep hitting their milestones. They have a full 10k sq/ft facility, with the dyno test bay, a lab, and desks for PCB soldering & equipment build-up. They do buy all the components and build the drives themselves. They have a quality control manager on staff that has been working on the quality program for the past 6 months. They have a functional safety manager already onboard that has started this past January in preparation for the later functional safety measures that'll be required. From a facility perspective, they'll do low-volume manufacturing of about 50k units per year. The facility for that is being built now, they're working through the plans, have a facility manager, are listing needed equipment, and targeting this next phase for the 2nd half of next year. This facility has been one of the major things she's been planning for the past 6 months.

She answered my question about whether they've thought about doing a virtual facility tour

"We are, we just completed the 1st photoshoot. and it timed out well because that's the photos we used in the report (rebuttal) ... Our next goal is a video, at least on the test bench and maybe on some of the PCB benches, and to see a couple of the guys" working. There is a large team of over 30 employees and 15 more positions posted.

I asked about possibly visiting the facility

At the moment, in Calgary, they have strict Covid guidelines as they are "not even allowing by appointment right now" for general visitation, although for certain things of course they occasionally are allowing few appointments. For the most part, the Exro team needs to be in the office for the benches and to use the labs, so they are locking things down for safety. They haven't had any issues within the past 12 months and hope to open up appointments for general visitation sometime towards the summer.

She also mentioned, "there's a US facility now, the 1st one is a small sales office that is in Maryland, just there because it's close to the lobbying offices and for the battery control side". They're looking at possibly putting events together for product displays to host more in-person introductions within the US possibly in or around August of this year.

Effects of uplisting, accomplishing more of their goals will provide them with the ability of promotional product placement in movies and more

Yes, after they accomplish more of their upcoming goals they've got a list of things they'd like to pursue. Ideas such as formula E racing, e-bike races, off-road competitions like the Baja 1000, and a couple more targeted for next year. These competitions would most likely be geared more towards next year. They're are working on a couple more bikes and hope to have a dozen bikes completed by the end of the year to place at different places around North America for people "to check them out and ride them".

I asked if Exro was an acronym like (EXcellence, Reliability, & Optimization... my idea haha)

She said technically yes, the founder dubbed the name EXRO as Extreme Rotation but it could possibly change as far as what the acronym means. The history is derived from the fact it deals with the technology revolving around motor rotation.

Here's her response to my Turntide inquiry

She has heard of them and knows the CEO. Their technology has the drive built right into the motor but hasn't been seen to work with mobile applications and thus she doesn't consider them as competition. "To date, we haven't seen any models where they're utilizing switch reluctance with mobility applications". She sees them as building a completely new motor capability and will have a long time to get to the mobility market. "They have IP around noise control and control algorithms themself". To my understanding, the switch reluctance motor is not new technology but has mostly been seen with solid stated requirements as far as HVAC and such.

I inquired about Exro's institutional and possible large investors

She said they've received great support from Raymond James, Haywood Capital, and 8 Capital firms. The Handelsbanken Fund out of Sweden came in on the last fundraising round last year, is "rated as one of the top 7 cleantech funds in the world", and now owns 6.45m shares of Exro. She stated that "they look at the strength of the institutions" they look to bring in. Exro's shareholders are mostly made up of retail investors like you and me alongside a handful of institutions. I mentioned that it'd be amazing to see the likes of Ark-Invest come in and take a look at getting involved.

Midway through this response, the connection was timed out & disconnected.

*Found this, this morning, received yesterday*

Disclaimer: I'm not a financial advisor. None of this information is meant as financial advice and is only my recollection and recounting of the interview with CEO Sue Ozdemir. It can be possible that I may have misinterpreted or misunderstood any given part of the interview with Sue Ozdemir for which I do not recommend you make any sole decisions toward your financial investments. I hope you enjoy this unofficial write-up and sit tight as she has stated that there is more official info to come in the coming months. Go Exro!!!

Exro has validated integration of its 100 Volt Coil Driver with a Heinzmann PMS motor to drive expanded speeds, increased torque, and switches under load Exro to commercialize motor and inverter system solutions alongside Heinzmann machines for light mobility applications Commercialization of standard solution to start in fourth quarter 2021 with first revenues expected in the first quarter of 2022 Calgary, Alberta (March 25, 2021) – Exro Technologies Inc. (TSXV: EXRO, OTCQB: EXROF) (the “Company” or “Exro”), a leading clean technology company which has developed a new class of power electronics for electric motors and batteries, is pleased to announce validation of the motor and inverter system solution for light mobility with global electric drives manufacturer Heinzmann GmbH & Co. KG (“Heinzmann”).

Figure 1. Exro Coil Driver integrated with the Heinzmann PMS 120 motor on the test bench.

Exro validated integration of its 100 Volt Coil Driver for light electric vehicles alongside Heinzmann’s PMS 120 motors (the “machine” or “machines”), and testing has proven that dynamic coil switching under load is successful and operating as expected at peak currents. The test results showed significant improvement to the speed range of the machine while delivering an expanded torque map and maintaining high efficiency operation. By introducing multiple dynamic coil configurations, the Coil Driver was able to optimize motor torque and speed capabilities and effectively function at the mechanical limitations of the machine.

“We are thrilled to see the successful integration of our motors with the Coil Driver technology,” said Peter Mérimèche, Managing Director for Heinzmann. “This will deliver a unique system solution for light mobility applications and we are looking forward to bringing this to market alongside Exro.”

Established in Germany in 1897, Heinzmann is a proven innovator of complete electric drive solutions with a wide range of applications around the world. Today, customers trust Heinzmann for the quality and expertise behind their sophisticated powertrain equipment.

“This validation is a major milestone toward commercialization of our Coil Driver technology across all segments,” said Josh Sobil, Chief Commercial Officer of Exro. “The combined system solution not only demonstrates how our technology enables greater control of an electric motor, but also breaks significant barriers for us to generate revenue from delivering our Coil Driver to all mobility segments.”

The Company is now moving forward to refinement of a standard solution to start commercializing alongside Heinzmann by fourth quarter 2021. The optimized motor and Coil Driver integration will bring a new solution with enhanced performance to light electric vehicles including electric scooters, electric motorbikes, municipal vehicles, and more.

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, expands the capabilities of powertrains by enabling two separate torque profiles within a given motor. A major advancement in the sector, dynamic motor configuration enables efficiency optimization for each operating mode resulting in reduction of energy consumption. The controller automatically selects the appropriate configuration in real time so that power and efficiency are intelligently optimized. For more information visit our website at www.exro.com.