CEO.CA Chairman's Briefing

• Exro has partnered with Untitled Motorcycles to integrate its 100 Volt Coil Driver technology into the award-winning XP Zero electric motorcycle.
• Tests show Exro's technology can provide a 25 percent increase in power and 15 percent increase in torque, boosting the modified XP Zero motorcycle to 162ftlb torque.
• Shareholders and the public are invited to view the XP Zero motorcycle, at CES booth 6019 from January 5-8, 2022.

CALGARY, AB, Dec. 30, 2021 /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 it has initiated a partnership with Untitled Motorcycles to demonstrate the advantages of Exro's patented Coil Driver technology in Untitled Motorcycles' award-winning XP Zero electric motorcycle.

In entering this partnership, the two companies will collaborate to integrate Exro's 100 Volt Coil Driver technology into limited edition XP Zero electric motorcycles. Exro will provide technology and integration support, while leveraging Untitled Motorcycles' world-class design and development expertise.

"The XP represents a vision of the future of motorcycling, unrestrained by the legacy of a soon-obsolete technology, making it a natural fit for Exro's technology," said Hugo Eccles, founder and design director of Untitled Motorcycles. "We've been working on a race version of the XP and, with Exro, we have a technology partner that can help us take things to the next level."

Tests show a 25 percent and 15 percent bump in power and torque respectively. The XP Zero already accelerates 0-60 mph in 3.7 seconds—faster than a Ferrari F50 or McLaren F1 LM —and currently produces an impressive 140ftlb of torque, which is almost twice that of a Ducati Panigale V4R. The modified XP Zero fleet will be boosted to an incredible 162ftlb. "To put it in context, that's the same torque as a Lotus Exige S, but in a vehicle that's 1,600lbs lighter," said Eccles.

"We are excited to partner with Untitled Motorcycles and expand our work in the electric motorcycle market," said Sue Ozdemir, CEO of Exro. "The XP Zero is extraordinary in how it looks and performs, and our Coil Driver technology will elevate the XP's performance even further. This was a huge year for electric motorcycle launches and we're proud to contribute to the progress in the sector."

The public is invited to an unveiling of the XP Zero motorcycle, with Exro's Coil Driver technology inside at the CES show in Las Vegas.  Stop by Exro's booth number 6019 between January 5 and 8, 2022, for a first look at the new electric motorcycle.

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.

About Untitled Motorcycles
Untitled Motorcycles (UMC) is an Anglo-American company, based in San Francisco and London, that designs and develops motorcycles in partnership with marque brands like GQ, Ducati, Triumph, Yamaha, Zero, and Harley-Davidson.

Untitled Motorcycles' work has been featured extensively in print and online media including an episode of CNBC's Jay Leno's Garage. The XP Zero will feature in an upcoming Paramount Pictures movie set for release in mid-2022.

About the XP Zero Motorcycle
The XP Zero is a new type of electric motorcycle, one that discards conventions and defies expectations. Developed without compromise and built with precision, the XP combines cutting-edge design with state-of-the-art technology, representing a new era of motorcycling.

The XP Zero doesn't look like a conventional motorcycle because it isn't a conventional motorcycle. The XP produces twice the torque of a superbike, and accelerates faster than a supercar. The onboard ride computer offers fourteen user-customized performance profiles, switchable on-the-fly, that transform the XP from a cruiser on the highway, to a cafe racer in the canyons.

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.

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SOURCE Exro Technologies Inc.

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