Exro Technologies (TSX: EXRO) (OTCQB: EXROF), a leading clean-technology company that develops new-generation power-control electronics that expand the capabilities of electric motors and batteries, has entered an innovation agreement with a major automaker. The agreement outlines plans for the two companies to collaborate in the exploration of powertrain innovations using Exro’s advanced Coil Driver(TM) technology in the automaker’s electric passenger vehicles with the objective of delivering higher continuous power and torque output compared to conventional systems. According to the announcement, Exro will work with the leading automotive OEM to design a proof-of-concept Coil Driver plus motor system that fits into a defined electric machine housing and utilizes the latest advancements in power electronics technology combined with an optimized machine design. The agreement notes that the companies plan on completing a proof-of-concept Coil Driver plus optimized motor design system by the end of Q4 2023 with delivery of functional prototypes by the end of Q4 2024. At that point, further testing will be conducted, and next steps will be identified. In addition, the company announced that company management will be hosting a quarterly Deep Dive gathering today at 11 a.m. ET.

To attend the Deep Dive event, visit https://ibn.fm/kd2i3

To view the full press release, visit https://ibn.fm/E1tiO

About Exro Technologies Inc.

Exro is a clean-tech company that has developed a new class of control technology for electric powertrains. Exro’s advanced motor-control technology, its Coil Driver, expands the capabilities of electric motors and powertrains. The Coil Driver enables two separate torque profiles within a given motor. The first is calibrated for low speed and high torque, while the second provides expanded operation at high speed. The ability to change configuration allows efficiency optimization for each operating mode, resulting in overall reductions in energy consumption. The controller automatically and seamlessly selects the appropriate configuration in real-time so that torque demand and efficiency are optimized. The limitations of traditional electric machines and power technology are becoming more evident. In many increasingly prominent applications, traditional methods cannot meet the required performance. This means either oversizing the equipment, adding additional motors or implementing heavy mechanical-geared solutions. Exro offers a new solution for system optimization through implementation of the technology, which can yield the following results: increased drive cycle efficiency, reduced system volume, reduced weight, and expanded torque and speed capabilities. Exro allows the application to achieve more with less energy consumed. For more information about the company, please visit 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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