Company Letter to Shareholders from Exro CEO Sue Ozdemir

  • Exro webcast scheduled for Oct 7th to offer business updates and response questions. Back links to join will be supplied on organization web site prior to the party.
  • Exro stays assured in potential to produce 2022 milestones amid small-term delays with a handful of 2021 assignments
  • Exro will showcase the Coil Driver and BCS at upcoming field conferences and in demonstration vehicles

CALGARY, AB, Aug. 31, 2021 /PRNewswire/ – Exro Systems Inc. (TSX: EXRO) (OTCQB: EXROF) (the “Company” or “Exro”), a foremost clear technological innovation firm that has produced a new course of electricity electronics for electric powered motors and batteries, is publishing the subsequent letter to shareholders sharing updates on the organization from its CEO.

Pricey Fellow Shareholders,

More than the previous 12 months, our enterprise has grown substantially: in people, in technological innovation and in facility dimensions. I am now proudly surrounded by around 60 personnel, as we continue on to recruit the greatest individuals for new positions. Our upcoming is bright, and none of this is achievable without your help. The group is focused to bringing our technologies to market place and motivated to aid make a sustainable long run. In our current worker survey, 100% of our staff members said that they would advise Exro as a put to get the job done. On behalf of all our crew, thank you for your ongoing assist!

Pursuing the announcement of our next quarter 2021 money effects, we gained favourable responses from shareholders and curiosity in hearing much more frequently from us—and we’re pleased to oblige. Exro is committed to delivering know-how that can change electrification throughout the mobility sector, and we are functioning diligently to that objective. We’re producing a concerted hard work to improve our communications all over tasks and deliverables, and for shareholders keen to hear our updates, we have a handful of new strategies to have interaction with us.

  • Quarterly webcasts: Our team is putting together a quarterly webcast software, where by we are going to supply company updates, reply your issues, and offer additional possibilities for you to have interaction right with Exro. Our to start with webcast is scheduled for Oct 7th and we will supply links on our site to question concerns and join the webcast prior to the function. We will have a lot to share, such as perception into our software validation course of action, so keep tuned for people updates by subscribing to our e-mails.
  • Event demonstrations: We are happy to be equipped to showcase our higher- and small-voltage Exro Coil Driver™ and Battery Command System (“BCS”) at the Battery Show in Detroit, MI, from September 14-16, 2021. I am also personally quite psyched to welcome you in becoming a member of me at the CES 2022 clearly show in Las Vegas, NV, in January where by we will launch some of our new Exro demonstration fleets—from an all-terrain automobile (“ATV”) to a retrofitted HUMVEE to a customized racing motorcycle. Our technologies will be at all those gatherings for you to see firsthand the Exro variation. We will get portion in other marketplace functions across the US, and we will submit these updates on our internet site at exro.com/investors/situations.
  • Impending deliverables: The coming months will hold many deliverables for our amazing associates Potencia, LAND, Zero, Aurora, HEINZMANN, Vicinity, SEA Electric and Linamar. All of these remain lively assignments and we continue to function carefully with our companions to validate and provide our Coil Driver™ for their programs. At the exact time, we continue on to file new patents and develop our product portfolio to assure we have a sustainable small business. Our income pipeline carries on to develop, and we have been performing to standardize our solutions so that we can deliver to buyers more rapidly in the foreseeable future.

I would be remiss to not accept the the latest short-term delays in a few of our 2021 task milestones. The job updates for Zero, LAND, and Potencia are now predicted in fourth quarter 2021. This is a typical element of getting new intellectual assets (“IP”) to marketplace and our crew continues to be self-confident in our capability to do the job by means of these difficulties and supply products to our consumers. We’ve been running various supply chain delays and useful resource allocation amid the pandemic though operating to improve tests capacity to streamline our procedures. As just lately introduced in our Management Discussion and Evaluation (“MD&A”), our 2021 project milestone delays have not impacted our 2022 milestones, those people keep on being on track for our general 2022 targets.

Looking at our enterprise grow has been a phenomenal journey. The new manufacturing facility in Calgary is progressing as prepared and we have set up the staff and platform for our top quality administration approach. Upon its completion in early 2022, the facility will assistance our escalating pipeline by being equipped to produce solutions that meet automotive benchmarks, excellent benchmarks and nearby rules. Our Arizona facility has also commenced building. I was equipped to wander as a result of the new spot in Mesa this week and am energized for our future Usa headquarters. Some of our future social media communications will give a digital look into these facilities as they development, so be absolutely sure to comply with us at @exrotech.

Exro Systems is bridging the gap to electrification. The capacity to improve efficiency with impressive, price-efficient controls can be a stage change for the mobility marketplace. Thank you all for your tolerance, your perception in Exro and your faith in me.

We welcome all of our shareholders to take pleasure in the experience and behold the long term of Exro.

Regards,
Sue

About Exro Systems Inc.

Exro is a clear technological innovation firm groundbreaking smart command methods in electrical power electronics to assistance fix the most difficult troubles in electrification. Exro has created a new class of control technological know-how that expands the abilities of electric motors, generators, and batteries. Exro permits the application to realize additional with fewer electrical power eaten.

Exro’s sophisticated motor management technological innovation, the Coil DriverTM, expands the capabilities of electric powered powertrains by enabling clever optimization for productive strength use. Exro is working with quite a few partners from all above the entire world to provide their technologies to the electric powered mobility industries and outside of.

For additional facts stop by our internet site at www.exro.com.

Pay a visit to us on social media @exrotech.

CAUTIONARY Assertion With regards to Forward Wanting STATEMENTS
This information launch incorporates forward-seeking statements and forward-on the lookout data (with each other, “ahead-wanting statements”) within the indicating of applicable securities legal guidelines. All statements, other than statements of historical information, are ahead-seeking statements. Frequently, ahead-looking statements can be determined by the use of terminology this kind of as “strategies”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variants of such phrases, or statements that particular actions, functions or results “may”, “could”, “would”, “could”, “will be taken”, “happen” or “be achieved”. Ahead looking statements involve challenges, uncertainties and other factors disclosed beneath the heading “Danger Things” and in other places in the Firm’s filings with Canadian securities regulators, that could induce true benefits, performance, prospective buyers and chances to vary materially from individuals expressed or implied by these types of forward-hunting statements. While the Enterprise thinks that the assumptions and components utilised in preparing these forward-hunting statements are sensible primarily based on the info at present available to management as of the date hereof, genuine final results and developments may differ materially from those contemplated by these statements. Viewers are for that reason cautioned not to put undue reliance on these statements, which only implement as of the day of this information launch, and no assurance can be given that these types of occasions will come about in the disclosed instances frames or at all. Other than the place needed by relevant law, the Organization disclaims any intention or obligation to update or revise any ahead-searching statement, irrespective of whether as a consequence of new details, long run situations or in any other case.

This facts is competent in its entirety by cautionary statements and danger issue disclosure contained in filings built by the Company with the Canadian securities regulators, like the Firm’s yearly details variety for the economical yr finished December 31, 2020, and fiscal statements and relevant MD&A for the economic yr ended December 31, 2020, submitted with the securities regulatory authorities in sure provinces of Canada and out there at www.sedar.com. Should 1 or extra of these risks or uncertainties materialize, or should really assumptions underlying the forward-wanting information verify incorrect, real benefits may possibly fluctuate materially from those described herein as meant, planned, predicted, believed, approximated or expected. While the Firm has attempted to determine critical threats, uncertainties and elements which could cause real final results to vary materially, there may perhaps be many others that cause success not to be as expected, estimated or meant. The Corporation does not intend, and does not presume any obligation, to update this ahead-hunting information besides as if not demanded by applicable law.

Neither the Toronto Stock Trade nor the Expenditure Marketplace Regulatory Group of Canada accepts duty for the adequacy or precision of this press release.

Resource Exro Systems Inc.