XL Fleet Reminds Investors of Redemption of Public Warrants | Small business & Finance

As a courtesy, the Enterprise would like to remind any remaining holders of Public Warrants that if the remaining about 3. million Community Warrants are not exercised right away immediately after 5:00 p.m. EST on March 1, 2021, the redemption day, the Community Warrants will be void and no extended exercisable, and the holders of these Public Warrants will be entitled to acquire $.01 per Public Warrant.

Concerns about redemption and physical exercise of the Community Warrants can be directed to Continental Stock Transfer & Have faith in Organization, 1 State Road, 30th Flooring, New York, New York 10004, Attention: Compliance Office, phone variety (212) 509-4000.

The 4.7 million complete General public Warrants that have been exercised as of February 16, 2021 has resulted in cash proceeds to XL Fleet of close to $53.6 million, dependent on an work out selling price of $11.50 for every share. Pursuing the redemption, and assuming all remaining outstanding Community Warrants are exercised, XL Fleet expects to have up to approximately $420 million of cash on the harmony sheet and roughly 139 million shares of Common Inventory superb.

For more information related to the redemption of the General public Warrants, make sure you reference the redemption announcement push release issued by the Organization on January 28, 2021.

This press launch shall not constitute an offer you to promote or the solicitation of an give to buy nor shall there be any present of any of XL Fleet’s securities in any jurisdiction in which these types of offer, solicitation or sale would be unlawful prior to the registration or qualification underneath the securities legislation of any these types of jurisdiction.

XL Fleet is a leading supplier of vehicle electrification answers for professional and municipal fleets in North The usa, with additional than 145 million miles driven by consumers this kind of as The Coca-Cola Firm, Verizon, Yale College and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric powered drive systems can improve gasoline financial system up to 25-50 percent and decrease carbon dioxide emissions up to 20-33 %, lowering running prices and assembly sustainability objectives though maximizing fleet functions. XL Fleet’s plug-in hybrid electric powered travel method was named a single of TIME magazine’s ideal inventions of 2019. For more data, be sure to pay a visit to www.xlfleet.com.

Forward Seeking Statements

Specified statements in this press launch might constitute “forward-looking statements” within the which means of the federal securities legislation. Forward-searching statements usually are accompanied by text this kind of as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and comparable expressions that forecast or point out long term functions or traits or that are not statements of historical issues. These statements are based on a variety of assumptions, whether or not or not identified in this push launch, and on the current expectations of management and are not predictions of true general performance. Ahead-searching statements are subject to a quantity of dangers and uncertainties that could induce genuine outcomes to differ materially from the forward-looking statements, including but not confined to failure to recognize the anticipated added benefits from the small business mixture the consequences of pending and future legislation the extremely aggressive nature of the Company’s small business and the professional car electrification sector litigation, problems, item liability statements and/or adverse publicity price increases or shortages in the components or chassis important to support the Company’s products and services the introduction of new technologies the affect of the COVID-19 pandemic on the Company’s company, outcomes of operations, fiscal condition, regulatory compliance and client working experience the possible decline of selected considerable prospects privateness and data security regulations, privacy or information breaches, or the loss of info normal financial, monetary, legal, political and business enterprise circumstances and alterations in domestic and overseas marketplaces the lack of ability to transform its profits option pipeline into binding orders challenges connected to the rollout of the Company’s enterprise and the timing of expected business milestones the effects of opposition on the Company’s future company the availability of funds and the other hazards reviewed under the heading “Risk Factors” in the definitive proxy statement/prospectus filed on December 8, 2020 and other paperwork that the Enterprise information with the SEC in the upcoming. If any of these risks materialize or our assumptions verify incorrect, true outcomes could vary materially from the success implied by these ahead-wanting statements. These ahead-on the lookout statements converse only as of the date hereof and the Company exclusively disclaims any obligation to update these ahead-seeking statements.

Eric Foellmer, Director of Promoting

Marc Silverberg, Associate (ICR)

Search phrase: MASSACHUSETTS UNITED STATES NORTH The usa

Business Search term: Normal AUTOMOTIVE FLEET Administration OTHER Electricity OTHER Transportation Alternative Automobiles/FUELS AUTOMOTIVE TRUCKING Alternate Electrical power Electrical power Transportation Environment General public Transportation OTHER AUTOMOTIVE LOGISTICS/Provide CHAIN Management

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PUB: 02/18/2021 04:15 PM/DISC: 02/18/2021 04:15 PM