Exro Receives Conditional Approval to Graduate to the Toronto Stock Exchange

Calgary, Alberta (June 18, 2021) – Exro Technologies Inc. (TSXV: 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 is pleased to announce that it has received conditional approval to list its common shares on the Toronto Stock Exchange (the “TSX”) under the same trading symbol “EXRO”.

Final approval of the listing is subject to the Company meeting certain customary conditions of the TSX. Upon final approval, Exro intends to issue a news release confirming the date upon which its common shares will commence trading on the TSX, which is anticipated to occur prior to the end of July. At that time, Exro’s common shares and warrants will be concurrently delisted from the TSXV.

“We’ve made huge strides in the last 12 months on our path to bringing our Coil Driver to next generation electric vehicles and graduating to the TSX is another important breakthrough for us,” said Sue Ozdemir, Chief Executive Officer of Exro. “We have seen continued growth of engagement for our technologies so far in 2021 and are looking forward to expand the reach of our engagement further for all of our current and future shareholders.”

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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 Driverᵀᴹ, 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.

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Contact Information

Investor inquiries: ir@exro.com

Canada investors: Jake Bouma at 604-317-3936

United States investors: Vic Allgeier at 646-841-4220

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Media inquiries: media@exro.com

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CAUTIONARY STATEMENTREGARDING 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.