Mr. David Galison reports

ATS SECURES US$167 MILLION EV ORDER

ATS Automation Tooling Systems Inc.'s industrial automation business has received an order booking from an existing global automotive customer toward expanding the capacity of its automated battery module and pack assembly systems for operations within North America. The order booking is valued at approximately $167-million (U.S.) (or approximately $231-million at current exchange rates) and is subject to customary conditions.

This order booking is part of a previously disclosed multiphase enterprise program that includes the design, build and installation of turnkey battery assembly systems. The order booking will be recorded in the company's second quarter of fiscal 2023 and is expected to be executed over the next 15 months.

"This project furthers our relationship with a key customer, while again demonstrating our ability to solve complex needs within the rapidly evolving EV [electric vehicle] market," said Andrew Hider, chief executive officer of ATS. "Our steadfast focus on continuous improvement, bolstered by the use of our ATS business model, allows us to adeptly evolve our offerings and embrace new technology to meet the advancing demands of customers while they are shaping the future of electric transportation."

About ATS Automation Tooling Systems Inc.

ATS is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added services, including preautomation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, food and beverage, transportation, consumer products, and energy.

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