Ms. Sue Ozdemir reports

EXRO ANNOUNCES 2020 AGM RESULTS

Exro Technologies Inc. has released the results of voting at its annual general meeting of shareholders, which was held July 7, 2020, in Vancouver, B.C. All matters submitted to the shareholders for approval as set out in the company's notice of meeting and information circular, dated June 2, 2020, were approved by an overwhelming majority of votes cast at the meeting.

Number of directors

Shareholders approved the setting of the number of directors at six.

Election of directors

The shareholders elected the following slate of directors:

• Mark Godsy;
• Frank Borowicz;
• Jill Bodkin;
• Daniel McGhan;
• Eamonn Percy;
• Sue Ozdemir.

The company also wishes to thank Jonathan Ritchey, the company's founder, for his long-time service as a former director of Exro.

Appointment of auditor

Dale Matheson Carr-Hilton Labonte LLP, chartered professional accountants, was reappointed as auditor of the company for the ensuing year with its remuneration to be fixed by the board of directors.

Reconfirmation of the stock option plan

An ordinary resolution of disinterested shareholders approved that the number of common shares reserved for issuance under the company's stock option plan be increased from 10 million shares to 16,576,049 shares.

About Exro Technologies Inc.

Exro is a clean technology company that has developed patented coil driver technology which is used for electric motors to create greater speed, power and distance, while reducing weight and space. The company's coil driver technology expands the capabilities and efficiency of electric motors by enabling two separate torque profiles within an electric motor: one profile for low speed and high torque and another profile for high speed and low torque. The coil driver technology ultimately translates into increased system efficiency and optimization for electric motors while consuming less energy and reducing costs. Exro has spent time and resources validating the coil driver technology with world-class partners and is now fully focused on commercializing its unique product as world governments push clean technology.

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