Investor Connect

Investor Questions – Our Response

In this dedicated space, we directly address your key questions. Our goal: transparent and prompt responses to your most pressing inquiries related to Exro. Your input is vital and helps us focus on what matters to you. Please submit your questions below; we'll update this section regularly to reflect the most common investor concerns. Let’s ensure clarity and confidence together.

Question 1

Current progress on Cell Driver™ certification and its significance for commercialization?

Certification is more complex when the technology is complex and new. With most of our scheduled testing recently completed, the strength of our innovative cell level control technology pushed the definitions within the existing standards. As a result, adjustments on test procedures were needed to accurately evaluate the unique nature of our technology, requiring additional time in Q1. We would like to emphasize that UL certification, while important, is not the limiting factor in the commercialization of our technology. This adjustment does not alter our prospective orders, our revenue potential this year, or pilot programs with customers. Exro’s in-house Cell Driver™ pilot program, installed on the company’s Calgary manufacturing centre has been operational for more than two months collecting valuable data and operational run-time. The system continued to operate flawlessly during Calgary’s recent -40C cold snap, demonstrating performance in the extreme winter conditions. As the market for energy storage solutions continues to evolve at a rapid pace, our order pipeline continues to grow and develop. We look forward to providing additional information on orders in the near term.

Question 2

Timeline for Exro's NASDAQ uplisting?

We continue to be committed to execute on a US listing. We have engaged outside counsel and continue regular dialogue with market professionals surrounding NASDAQ. Given the current market backdrop we will continue to evaluate optimal timing for shareholders to complete our up-list.

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Question 3

Disclosure timeline for NDA clients and criteria for public announcement?

Understanding the eagerness surrounding the disclosure of our NDA partners, we acknowledge the excitement and curiosity that comes with revealing the names of major industry players involved with Exro. Our ultimate goal aligns with yours: to proudly announce these collaborations. We are actively working towards milestones that will enable us to lift NDAs, as we have successfully done in the past with notable partners like Linamar and HB4.

The journey towards revealing these partnerships involves navigating through complex sales cycles, particularly in the automotive industry. It's important to recognize the lengthy timeline of automotive product development. A vehicle hitting the roads today has undergone a design and development process that likely started around five years ago. This process includes numerous iterations, extensive supplier testing, and meticulous selection of components, culminating in final design decisions.

Once a powertrain choice is finalized, OEMs (Original Equipment Manufacturers) often maintain confidentiality to protect their competitive edge. Disclosing such information prematurely could reveal strategic details about vehicle types and other proprietary aspects, which OEMs understandably regard as sensitive. As a result, our role involves working within these parameters to ensure our products are integrated effectively and responsibly.

We are excited about the enthusiasm OEMs have shown towards our technology, recognizing its transformative potential. While we cannot provide specific timelines or names at this moment due to industry constraints, we are as eager as you are to share these developments and will do so as soon as possible. In the meantime, we appreciate your patience and understanding as we navigate these complex yet promising partnerships.

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Investor Connect

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Investor Questions – Our Response

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Investor Connect

Communication Portal

Investor Connect

Communication Portal

Strengthening Investor Relations

Investor Questions – Our Response

Question 1

Current progress on Cell Driver™ certification and its significance for commercialization?

Question 2

Timeline for Exro's NASDAQ uplisting?

Question 3

Disclosure timeline for NDA clients and criteria for public announcement?

Have a question?