XL Fleet, a leader in vehicle electrification solutions, has reached a strategic partnership with UBS Arena and the New York Islanders that includes the opportunity to explore the deployment and operation of 1,000 electric vehicle charging stations at the new UBS Arena, New York’s next premier entertainment and sports venue and future home of the New York Islanders. The 43-acre site has the potential to become one of the largest electric vehicle charging sites in the United States, with an optimal location in the metropolitan New York region near both LaGuardia and JFK Airports. The partnership will enable UBS Arena with the opportunity to explore XL Fleet’s leading suite of electrification solutions to quickly and cost effectively deploy a large-scale EV infrastructure for a wide range of users, including arena guests and nearby fleets who can charge during off-peak hours.

UBS Arena is being developed in partnership with Oak View Group, LLC, founding partner of the Arena Alliance, a consortium of over 35 arenas and stadiums across the U.S. In 2021, the Islanders will move to UBS Arena, which will be the first venue of its kind in New York built to achieve LEED V4 standards while featuring state-of-the-art sustainable technology.

This partnership enables the Arena to provide patrons and employees access to EV charging while utilizing its expansive and strategically located footprint and utility infrastructure to help meet the growing demand for EV charging in the New York metropolitan region. To support this project, XL Fleet will leverage the breadth of its full electrification portfolio, including its XL Grid division launched in December 2020. XL Fleet plans to deploy and manage a robust suite of electrification infrastructure, including solar power generation, energy storage and vehicle charging stations, and to equip and deploy fleets of electric vehicles for use by UBS Arena and the New York Islanders.

“UBS Arena and the New York Islanders are forward-thinking sustainability leaders, building the infrastructure to support the current and rapidly growing demand for vehicle electrification and charging stations in the area,” said Tod Hynes, Founder & President of XL Fleet. “This location provides an opportunity to deploy critical EV infrastructure in a very capital efficient manner that can be replicated across similar facilities throughout the country.”

“Lack of access to charging infrastructure is one of the top obstacles to electrifying more vehicles, and we are proud to partner with UBS Arena and the Islanders to solve that problem more quickly in the New York metropolitan area,” said Colleen Calhoun, Vice President and General Manager of XL Fleet’s XL Grid division. “Through this partnership, we can help optimize access to charging infrastructure and scale that capacity as the need grows.”

“Partnering with XL Fleet to advance our electric vehicle infrastructure illustrates the groundbreaking work being done at UBS Arena to prioritize sustainability throughout our operations,” said Hank Abate, President of Arena Operations at UBS Arena. “XL Fleet’s ability to provide a full scope of electrification services will be a huge advantage for our patrons as well as the commercial and municipal fleets in the surrounding communities who could rely on this infrastructure.”

About XL Fleet

XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with more than 145 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet offers a full suite of electrification solutions that includes electrified powertrains, charging infrastructure, power management and fleet intelligence data. XL Fleet’s electric drive systems are proven to substantially increase fuel economy and reduce carbon dioxide emissions while helping customers reduce costs and meet sustainability goals. For additional information, please visit www.xlfleet.com.

About the UBS Arena Project

UBS Arena is New York’s next premier entertainment and sports venue and future home of the New York Islanders. Located at Belmont Park in Elmont, New York, the state-of-the-art facility will open for the 2021-22 National Hockey League season and host more than 150 major events annually. The significant redevelopment project is expected to create 10,000 construction jobs and 3,000 permanent jobs, generating approximately $25 billion in economic activity over the term of its lease.

Developed in partnership with Oak View Group, the New York Islanders, and Sterling Project Development, UBS Arena is poised to be one of the area’s – and the nation’s – most prestigious and appealing venues for musical acts, events and performers of all genres, and will create the best and most unique entertainment experience for artists and audiences alike. The 19,000-seat venue is being constructed with a fan-first approach that leverages sophisticated engineering acoustics to amplify the audio experience, high-resolution LED displays and will include the largest scoreboard in New York.

UBS Arena will offer the highest-end amenities and customer service, through VIP suites and clubs that merge boutique hospitality with live entertainment. Clubs and suites will have a timeless design inspired by classic, well-known New York establishments and will offer premier views of the bowl. Complementing UBS Arena, Belmont Park’s campus will comprise 315,000 square feet of luxury retail and will include a 4-star boutique hotel with approximately 200 rooms.

UBS Arena is being built to achieve Leadership in Energy and Environmental Design (LEED v4) standards for Building Design and Construction. In an effort to build a greener future, UBS Arena is working with world-class sustainability experts to minimize the environmental impact of the venue and become a zero waste facility, utilizing renewable energy sources and reducing water and electricity consumption.

Forward Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to failure to realize the anticipated benefits from the business combination; the effects of pending and future legislation; the highly competitive nature of the Company’s business and the commercial vehicle electrification market; litigation, complaints, product liability claims and/or adverse publicity; cost increases or shortages in the components or chassis necessary to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company’s business and the timing of expected business milestones; the effects of competition on the Company’s future business; the availability of capital; and the other risks discussed under the heading “Risk Factors” in the definitive proxy statement/prospectus filed on December 8, 2020 and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.