• Exro Technologies was named a Gold award winner for the 2022 Edison Best New Product Awards™ in manufacturing, logistics and transportation.
• Coil Driver was recognized by 3,000 world-leading business executives, academics and innovation professionals for its ability to deliver more power, speed and torque from a single electric motor.
• CEO Sue Ozdemir accepted the award on behalf of Exro at an event in Fort Myers, Florida.

Exro Technologies Inc.  (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean technology company that has developed a new class of power electronics for electric motors and batteries, announced today that its Coil Driver™ technology received a Gold Edison Award for Best New Product in manufacturing, logistics and transportation at the 2022 Edison Awards Gala in Fort Myers, Florida. Exro CEO Sue Ozdemir attended the ceremony and accepted the award on behalf of the Company.

Recognition by the Edison Awards is one of the highest accolades a company can receive in the name of innovation and business. The awards are named for Thomas Alva Edison, whose inventions, new product development methods and innovative achievements literally changed the world, garnered him more than 1,000 U.S. patents and made him a global household name. In this spirit, Exro's patented Coil Driver™ technology was awarded Gold for its ability to enable intelligent electronic gear switching in real time to expand electric vehicle (EV) performance and increase range.

"We are incredibly proud of the impact the Edison Awards winners continue to make in the global marketplace. It shows that no matter what the circumstances, great minds are always striving to create new innovations to better the world. The 2022 Edison Awards winners are the best of the best. Congratulations to the innovation teams behind all these amazing products and services," said Frank Bonafilia, executive director of the Edison Awards.

Coil Driver™ is a dynamic smart controller that eliminates the need for multiple motors across all EVs, and customizes and scales to meet customers' unique powertrain requirements. This leads to major cost efficiencies for electric transportation modes, including passenger vehicles, heavy-duty trucks, buses, e-bikes, motorcycles and more. Exro's patented Coil Driver accelerates the transportation industry's transition away from combustion engines by solving automakers' performance-cost trade-offs.

"On behalf of our shareholders and the entire team at Exro, it is an honor to join such an established list of innovative companies named as Edison Award winners," said Exro CEO Sue Ozdemir. "At Exro, everyone brings something unique to the table to foster a culture of continuous innovation, but we're all motivated by a shared vision for an electrified world where power is consumed intelligently, equitably and with minimal resources or waste. We're glad our peers recognize the value of Coil Driver to help get us there."

Nominees for the Edison Awards were judged by a panel of more than 3,000 leading business executives, including past award winners, academics and leaders in the fields of product development, design, engineering, science and medicine.

About Exro Technologies Inc.

Exro is a clean technology company pioneering intelligent control solutions in power electronics to help solve the most challenging problems in electrification. Exro has developed a new class of control technology that expands the capabilities of electric motors, generators, and batteries. Exro enables the application to achieve more with less energy consumed.

Exro's advanced motor control technology, the Coil Driver^TM, expands the capabilities of electric powertrains by enabling intelligent optimization for efficient energy consumption. Exro is working with many partners from all over the world to bring their technology to the electric mobility

For more information visit our website at www.exro.com.

To view our Corporate Presentation visit us at www.exro.com/investors.

Visit us on social media @exrotech.

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