Mr. William Trainer reports

VICINITY MOTOR CORP. ANNOUNCES VMC 1200 DISTRIBUTION AGREEMENT WITH JACK CARTER VMC TRUCKS IN SOUTHERN ALBERTA, CANADA

Vicinity Motor Corp. has signed a new distribution agreement with Jack Carter Commercial Vehicles to open Jack Carter VMC Trucks, a new VMC-specific dealership, by the owners of the successful Jack Carter Chevrolet Buick GMC Corvette dealer for the Southern Alberta territory.

Jack Carter Chevrolet Buick GMC Corvette has been offering General Motors vehicles for over 60 years, serving Calgary and surrounding communities. The company's all-make, in-house fleet department offers a wide and varied on-site inventory of Chevrolet, Buick and GMC vehicles, as well as the ability to source any vehicle, including leasing, registering, plating and modifying for small-business and commercial fleets, and government fleet solutions. With the opening of Jack Carter VMC Trucks, Jack Carter will provide fleet solutions for businesses and government with its inventory of VMC 1200 vehicles.

Per the terms of the agreement, Jack Carter VMC Trucks will distribute Vicinity VMC 1200 trucks throughout Southern Alberta, inclusive of an initial order for 19 VMC 1200 vehicles.

"The Jack Carter brand is an integral part of the Calgary automotive fleet community, and an excellent new partner to add to our growing list of new VMC 1200 dealerships," said William Trainer, founder and chief executive officer of Vicinity Motor. "Its all-make expertise will now grow to include our incredible VMC 1200 line, enabling Jack Carter to quickly diversify their portfolio and address the significant commercial EV opportunity throughout Southern Alberta. We are privileged to add the venerable Jack Carter name to our dealership list and look forward to a successful opening of the new location."

Jay McKeen, founder of Jack Carter VMC Trucks, added: "As commercial electric vehicles gain traction due to environmental considerations, lower operational expenses, reduced maintenance, and attractive incentives and rebates, fleet dealers like Jack Carter are looking for a versatile and compelling EV to offer their customers. We believe the VMC 1200 Class 3 all-electric truck is the right choice and Vicinity the right partner to introduce our small-business and commercial fleets to the benefits of electrification."

About Vicinity Motor Corp.

Vicinity Motor is a North American supplier of electric vehicles for both public and commercial enterprise use. The company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG (compressed natural gas) and clean-diesel Vicinity buses, as well as the VMC 1200 electric truck to the transit and industrial markets.

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