• Toyota Australia is a wholly owned subsidiary of Toyota Motor Corporation,
  the world’s largest car manufacturer
• VivoPower has now established a Tembo Australia subsidiary and dedicated Tembo resources
  to this Toyota Australia programme

VivoPower International PLC (Nasdaq: VVPR) (“VivoPower” or the “Company”) is pleased to announce that it has executed a Design Services Agreement (“DSA”) with Toyota Motor Corporation Australia Limited (“TMCA” or “Toyota Australia”) for its wholly owned subsidiary, Tembo e-LV (“Tembo”) to be commercially engaged in relation to the next stage of design of electrification solutions for the Toyota LandCruiser 70 for off-road applications in Australia.

The DSA reflects the commercial next step in Tembo’s collaboration programme with TMCA, which was initially announced as a binding letter of intent in June 2021. VivoPower has established a Tembo subsidiary in Australia and will commit dedicated Tembo resources to this important programme.

VivoPower’s Executive Chairman and CEO, Kevin Chin said, “We are honoured to have entered into this commercial agreement with TMCA and are fully committed to working closely with the TMCA team to deliver an electrified LandCruiser 70, which is fit for purpose and safe for corporate fleets, especially for off road use cases such as mining. In this regard, we have now dedicated a team within Tembo that is solely focused on this important TMCA project. We will also be sub-contracting our partner in Australia, GB Auto, given their dedicated mining sector experience.”

About VivoPower

VivoPower is a sustainable energy solutions company focused on electrification solutions for customized and ruggedized fleet applications, and solar and critical power technology and services. The Company's core purpose is to provide its customers with turnkey decarbonization solutions that enable them to move toward net zero carbon status. VivoPower is a certified B Corporation with operations in Australia, Canada, the Netherlands, the United Kingdom, the United States and the United Arab Emirates.

About Toyota Motor Corporation Australia

Toyota Motor Corporation Australia Limited is a wholly owned subsidiary of Toyota Motor Corporation, the world’s largest car manufacturer.

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Forward-Looking Statements

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