Exro Technologies (TSX: EXRO) (OTCQB: EXROF), a leading clean technology company developing new generation power control electronics that expand the capabilities of electric motors and batteries, today announced its financial results for the quarter ended March 31, 2023. “Through the first quarter of 2023, we continued to make steady progress towards commercialization of our Coil Driver(TM) technology for electric vehicles and Cell Driver(TM) technology for energy storage, both of which remain on track to begin series production in Q3 2023,” said Exro CEO Sue Ozdemir. “The value proposition offered by our technology solutions in solving real world challenges to electrification continues to grow in relevance and reach across our market verticals. As we approach the start of series production, we remain focused on separating the signal from the noise amid the macro environment and focused on building the most sustainable and valuable company possible on behalf of shareholders.”

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About Exro Technologies Inc.

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

NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://ibn.fm/EXROF

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