The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, today announced that it will release its 2022 first quarter results on May 3, 2022, after markets close. A conference call and webcast will be held on May 4, 2022, at 8:30 a.m. (Eastern Time) to discuss the results. The Company will also hold its virtual annual meeting of shareholders (the "Meeting") on May 6, 2022, at 11:00 am, via live webcast.

FIRST QUARTER 2022 RESULTS AND CONFERENCE CALL

The Company will announce its 2022 first quarter results on May 3, 2022, after market close. A conference call will be held on May 4, 2022, at 8:30 a.m. (Eastern Time) to discuss the results. To participate in the conference call, please dial (226) 828-7575 or (833) 950-0062 (toll free).

A live webcast of the conference call will also be available at www.thelionelectric.com under the "Events and Presentation" page of the "Investors" section. An archive of the event will be available shortly after the conference call.

ANNUAL MEETING OF SHAREHOLDERS

This year, the Company will be holding its Annual Meeting as a completely virtual meeting, which will be conducted via live webcast on May 6, 2022, at 11:00 a.m. (Eastern Time). The decision to hold a virtual meeting was made in an effort to contain the spread of the coronavirus (COVID-19) and to prioritize and support the well-being of our shareholders, employees and other Meeting attendees.

All shareholders, regardless of their geographic location, will have an equal opportunity to participate at the virtual Meeting at https://web.lumiagm.com/442208210. To access the online Meeting platform, participants will need an Internet-connected device, such as laptops, computers, tablets or cellphones.

The Company's management information circular and notice of annual meeting of shareholders relating to the Meeting are available to shareholders on Lion's website at www.thelionelectric.com in the Investors section, under Events and Presentations, and have been filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

ABOUT LION ELECTRIC

Lion Electric is an innovative manufacturer of zero-emission vehicles. The company creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses and minibuses for the school, paratransit and mass transit segments. Lion is a North American leader in electric transportation and designs, builds and assembles many of its vehicles' components, including chassis, battery packs, truck cabins and bus bodies.

Always actively seeking new and reliable technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs. Lion believes that transitioning to all-electric vehicles will lead to major improvements in our society, environment and overall quality of life. Lion shares are traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol LEV.