Mr. William Trainer reports

VICINITY MOTOR CORP. SECURES FOLLOW-ON ORDER FOR 12 VICINITY(TM) CLASSIC BUSES FROM LA QUEBECOISE

Vicinity Motor Corp. has received a follow-on purchase order from Autobus La Quebecoise for 12 Vicinity Classic buses to service the cities of La Prairie, Candiac, Saint-Philippe, Delson, Saint-Constant and Sainte-Catherine in Quebec.

Per the terms of the supply agreement, Autobus La Quebecoise has ordered an additional 12 of the company's 32-foot Vicinity Classic clean-diesel buses for delivery in 2025. Autobus La Quebecoise is part of Groupe La Quebecoise, which consists of approximately 20 companies offering various types of transportation services, including school bus, municipal, paratransit, shuttle, intercity, charter, helicopter, residual materials pickup, executive aircraft charter, regional airline service and aeromedical evacuation. The business operates primarily in Quebec, but its service extends into other parts of Canada, as well as the United States.

"This follow-on order by La Quebecoise, which is in addition to the eight bus order received in December, continues to validate our position as the market leader in the Canadian mid-sized heavy-duty segment," said William Trainer, founder and chief executive officer of Vicinity Motor. "As a leader in Quebec's passenger transportation industry, La Quebecoise is well positioned to service the immediate-term needs of their riders with our Vicinity Classic buses -- which offer lower entry and running costs compared to the competition. For Vicinity, our transit buses continue to play an important role in our backlog, providing an important pillar while we concurrently grow our electric vehicle business.

"While the Vicinity Classic buses remains a strong option contender for the foreseeable future, we believe supportive regulatory developments, infrastructure investments, government incentives and corporate sustainability goals are converging to accelerate diversification of fleets with electric vehicles as well -- such as our Vicinity Lightning EV [electric vehicle] bus -- that offer additional efficiencies, greenhouse gas emission reductions and support long-term sustainability targets. We look forward to working closely with La Quebecoise to deliver these vehicles next year," concluded Mr. Trainer.

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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