Company to Showcase VMC 1200 Class 3 Electric Truck Upfitted By Partner EAVX with Reading Truck Utility Body at Booth 5000

VANCOUVER, BC / ACCESSWIRE / April 27, 2023 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it will showcase the VMC 1200 Class 3 Electric Truck - upfitted by the Company's strategic partner EAVX, a division of J.B. Poindexter & Co, Inc. ("JBPCO") - at the Advanced Clean Transportation Expo ("ACT Expo") taking place May 2-4, 2023 at the Anaheim Convention Center in Anaheim, California.

ACT Expo is the largest conference and trade show highlighting the most advanced transportation technologies and clean fuels available in the marketplace today. The show serves as the official annual meeting place for 8,500+ transportation leaders looking to gain insight and hands-on access to the fuels, technologies, and vehicles driving the future of transportation. ACT Expo features dozens of product debuts and major announcements from leading OEMs and suppliers, unparalleled networking opportunities with the most influential and progressive leaders in the industry, peer-to-peer learning for progressive fleet operators, and access to the most extensive assembly of advanced commercial vehicles anywhere.

Advanced Clean Transportation Expo

Date: May 2-4, 2023
Location: Anaheim Convention Center - Anaheim, California
Booth Number: 5000
Vehicle On Display: VMC 1200 Class 3 Electric Truck, Upfit by EAVX with The Reading Truck Group Utility Body

"As the innovation hub of JBPCO, the EAVX team is on a mission to create the next generation of commercial vehicles - with this truck being on display at the ACT Expo as proof of our commitment to innovation," said Mark Hope, COO and GM of EAVX.

"The ACT Expo is a premier annual event showcasing the latest technologies, fuels, services, and vehicles driving the transition to low- and zero-emission transportation solutions," added William Trainer, Founder and CEO of Vicinity Motor Corp. "This year we are excited to showcase our VMC 1200 electric truck, upfit with a Reading Truck utility body by our partners at EAVX - a J.B. Poindexter & Co, Inc. business unit - demonstrating the incredible degree of versatility our VMC 1200 base vehicle offers.

"Our partnership with J.B. Poindexter & Co, Inc. business units Reading Truck and EAVX continues to expand, combining their strong engineering and manufacturing expertise with our proven VMC 1200 base. We are once again looking forward to meeting with potential customers and fleet operators from around the world, presenting an incredible opportunity for us to showcase our newest electric vehicle to a highly engaged audience," concluded Trainer.

About Vicinity Motor Corp.

Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("VMC") 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, as well as the VMC 1200 electric truck to the transit and industrial markets. For more information, please visit www.vicinitymotorcorp.com.

About J.B. Poindexter & Co., Inc.

J.B. Poindexter & Co., Inc. is a business enterprise that provides best-in-class commercial automotive and manufacturing goods and services. The company applies innovative operational and financial disciplines to the manufacturing of truck and van bodies, pickup truck covers and accessories, industrial vehicle storage and shelving, funeral coaches, limousines, specialty industrial parts and expandable foam packaging. The industry-leading business units include Morgan Truck Body, Morgan Olson, Reading Truck Group, LEER, EFP, FederalEagle, MIC Group, Masterack and EAVX. For more information, visit JBPoindexter.com or LinkedIn.

About EAVX

EAVX is the innovation hub of JB Poindexter & Co, leveraging its market leadership and formidable resources to optimizing the design and manufacture of next-generation commercial vehicles.

Company Contact:
John LaGourgue
VP Corporate Development
604-288-8043
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Investor Relations Contact:
Lucas Zimmerman
MZ Group - MZ North America
949-259-4987
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www.mzgroup.us

J.B. Poindexter & Co., Inc. Contact:
Matt Eul
Director of Marketing, JB Poindexter & Co
641-629-0921
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Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause actual results to differ materially from Vicinity's expectations include uncertainties relating to the economic conditions in the markets in which Vicinity operates, vehicle sales volume, anticipated future sales growth, the success of Vicinity's operational strategies, the timing of the completion of the vehicle assembly facility in the State of Washington, the effect of the COVID-19 pandemic, related government-imposed restrictions on operations, the success of Vicinity's strategic partnerships; and other risk and uncertainties disclosed in Vicinity's reports and documents filed with applicable securities regulatory authorities from time to time. Vicinity's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Vicinity assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.