Nieuport Aviation, TOK Group and Vicinity Motor Corp. Announce Electric Buses for Use at YTZ

Nieuport Aviation, along with shuttle bus service provider TOK Group, announced today an order for six (6) Vicinity Lightning™ electric buses. This announcement is one of the initiatives Nieuport Aviation is undertaking to reduce its environmental impact as part of its sustainability plan. The buses will replace the current diesel-powered shuttle bus fleet connecting passengers between Billy Bishop Toronto City Airport and Union Station.

"Each year, hundreds of thousands of people use the shuttle bus service Nieuport Aviation provides to access the city from the Toronto City Airport. It is a vital connector for travellers and staff alike" noted Neil Pakey, President and CEO of Nieuport Aviation. "As Nieuport sets out its stall to play a leading role in Canadian aviation achieving net zero carbon emission targets, we are thrilled to bring a cleaner, greener, quieter transportation solution to our city. This is a significant step forward in our goal of delivering a brighter and more sustainable future for our airport terminal and neighbouring communities."

In 2019, at the peak of the airport's operations, more than 500,000 people used the iconic shuttle bus service connecting Union Station to YTZ. Understanding that electric buses provide a net benefit to our passengers, the public and the environment in general, and conducting comprehensive market scans and interviews, the Vicinity Lightning™ Bus was selected. The order of six new electric buses is scheduled to begin delivery in the first quarter of 2023.

"The downtown Toronto shuttle service is an excellent opportunity for the Vicinity Lightning™ EV buses, due to its right-size, versatility, AODA compliance and accessibility, and comfortable ride, powered by an all-electric propulsion system designed with maximum efficiency in mind," said William Trainer, Founder and CEO of Vicinity Motor Corp. "We look forward to working with the team at the Nieuport Aviation and TOK Group to put these six buses into service, helping to create a sustainable and environmentally friendly service for Toronto's downtown and waterfront communities."

Ajay Mehra, CEO at TOK Group, added: "The environment is a key factor and forefront on our client's mind. Our public and private fleet clients are rapidly shifting from diesel and natural gas to electric vehicle technology. Electric buses are safe, clean and reliable and less expensive to maintain. They are quiet, smooth riding, and eliminate all engine air pollution. Vicinity's highly compelling Lightning EV product makes them an ideal partner as we seek to diversify our fleets, do our part in the fight against global warming, and reduce the need and dependency on non-renewable energy while also reducing operating costs."

"As the owner and operator of Billy Bishop Airport, PortsToronto has focused on making the airport among the cleanest, greenest and quietest in the world," said Gene Cabral, Executive Vice President, PortsToronto and Billy Bishop Toronto City Airport. "This has included significant investments in infrastructure including Canada's first all-electric ferry and the Ground Run-up Enclosure to reduce noise. We are also encouraging airport partners to contribute to this effort and applaud Nieuport Aviation for making this significant and meaningful investment in introducing electric buses to reduce air and noise emissions for the benefit of passengers and the surrounding community."

Reflecting the perspectives of the Toronto business community, Jan Da Silva, President & CEO, Toronto Region Board of Trade and Co-Chair, Climate Economy Strategic Council stated, "It's time for our region to hit go on climate action. To reach our net-zero climate goals, we can't afford to be laggards. We need to lead. With transportation responsible for 35 per cent of the Toronto region's emissions, today's announcement by Nieuport, TOK and Vicinity Motor Coach demonstrates our business community's commitment to be global leaders in the climate economy."

Nieuport Aviation is the owner and operator of the Passenger Terminal at Billy Bishop Toronto City Airport (BBTCA). Backed by significant international expertise in managing aviation infrastructure, we are committed to world-class customer service for the airport's 2.8 million passengers. In addition to managing the Passenger Terminal, Nieuport Aviation offers passengers a free bus shuttle service between the airport and downtown Toronto, helping to provide a seamless travel experience. For more information, please visit: http://www.nieuport.com

Offering service to more than 20 cities in Canada and the U.S., with connection opportunities to more than 80 international destinations via our airlines' networks, Billy Bishop Airport is an important international gateway and a key driver for Toronto's economy, providing both jobs and opportunities to promote trade and tourism. In addition to hosting commercial air carriers such as Porter Airlines and Air Canada, the airport also supports the health of Ontarians by providing a base for Ornge Medevac services to facilitate urgent patient care, as well as regional carriers, tour operators and flight schools. Billy Bishop Airport is renowned for its unique travel experience, efficiency and customer service and is the recipient of many passenger-driven awards.

"The TOK Group of Companies ("TOK") has been providing comprehensive, quality services to public and private organizations in the transit, urban mobility and charter tour industries for nearly 50 years. Serving the bus, truck and industrial equipment industries across Canada and internationally, the TOK Group provides professional services, Smart technologies and customized turnkey transit operation and maintenance solutions that are integrated, scalable, flexible and cost-effective. The TOK Group is unique in its ability to provide complete transit and mobility solutions with single source accountability."

Vicinity Motor Corp. (NASDAQ: VEV) (TSXV: VMC) (FRA: 6LGA) is a North American supplier of electric vehicles for both public and commercial enterprise use. The Company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus. In addition, the Company sells its proprietary electric chassis alongside J.B. Poindexter business unit EAVX, the Company's strategic partner, for upfitting into next-generation delivery vehicles. For more information, please visit www.vicinitymotorcorp.com.