• Exro completed new performance and efficiency testing using a 100 Volt Coil Driver and Zero Motorcycles' electric motor demonstrating the ability of Exro's 100 Volt Coil Driver to significantly increase motor output in light electric vehicles.
• Coil Driver delivered improvements to power and torque and enhanced efficiency at high speed with actual results aligning to simulated results. 
• The latest results support Exro's increasingly strong competitive position in the lightweight electric mobility market and support growing brand recognition for Exro in the market for affordable light electric vehicle solutions.

CALGARY, AB, March 22, 2022 /PRNewswire/ - 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 it has completed side-by-side testing, using Exro's 100 Volt Coil Driver and Zero Motorcycles' OE premium electric powertrain. The results validate Coil Driver's performance in electric motorcycles and demonstrate the ability of Exro's 100 Volt Coil Driver to improve motor performance in light electric vehicles.

Exro collaborated with Zero to demonstrate to the electric motorcycle industry that Coil Driver can improve power and torque without compromising efficiencies. Over the course of 18 months, Zero provided motor technology and integration support, and Exro produced and delivered power electronics that were designed to meet the bike's specific performance requirements. Today, Exro is excited to share that its 100 Volt Coil Driver increased both power and torque in Zero's SR/F motorcycle with a Z-Force75-10 motor, when compared to Zero's current Z-Force system.

A dynamometer ("dyno") was used to determine torque and power outcomes during testing. Comprehensive simulations were conducted prior to testing using Ansys software, the first simulation-driven design tool that combines multi-physics simulation capabilities, to predict the performance of the Coil Driver system for the ZF75-10 motor. The results from testing confirm a less than 4% deviation from the simulated results, demonstrating Exro's expertise in taking comprehensive simulations to optimal products with a high degree of accuracy. To ensure consistency, all testing was conducted at 100 Volts and within the DC power limit. Results were as follows:

This new set of test results from Zero's motorcycle with Exro's Coil Driver achieved over 13% more speed, 15% more torque, and 33% more power, compared to Zero's motorcycle as it was originally equipped. Overall data from drive efficiency testing delivered on expectations, demonstrating Coil Driver's ability to improve power and torque without compromising efficiencies.

The results align with outcomes from similar tests conducted with other motorsport partners, including Untitled Motorcycles, and support growing brand recognition for Exro in the market for affordable light electric vehicle solutions. Across the board, results demonstrate that Coil Driver makes electric motorcycles faster, more powerful, and last longer on a single charge, which can satisfy recreational motorcyclists' desire for speed and performance, and younger motorcyclists' need for affordable transportation solutions.

"We collaborated with Exro to evaluate performance enhancements for our electric motorcycles and showcase our commitment to focused and continuous product innovation," said Ryan Biffard, technical lead for powertrain development with Zero. "Exro delivered on its technology commitment. We saw a significant increase in motor torque and power with the Exro 100 Volt Coil Driver and are excited to continue our evaluation with Exro."

"Our work with Zero is an excellent demonstration of Exro's electric powertrain expertise and marks a major milestone on our path towards becoming the leading power electronics provider for the electric motorcycle market," said Sue Ozdemir, CEO of Exro. "The results are further proof of Exro's ability to improve performance and efficiency in low voltage electric vehicle applications and reinforce great confidence in our engineering and development teams' ability to deliver superior technology to the electric mobility markets. We've delivered on our technology commitments and are moving forward to the next phase of collaboration for commercialization with Zero."

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 industries and beyond.

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

Visit us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2020, and financial statements and related MD&A for the financial year ended December 31, 2020, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tests-show-exros-coil-drivertm-technology-improves-electric-motorcycle-performance-and-enhances-efficiencies-301507578.html

SOURCE Exro Technologies Inc.