CALGARY, AB, April 23, 2025 /PRNewswire/ – Exro Technologies Inc. EXRO (“Exro” or the “Company”), a prominent technology firm focusing on power control solutions for electric vehicles and energy storage, issued a statement today at the request of CIRO regarding recent trading trends in its common shares.

Exro has confirmed that it is unaware of any undisclosed material changes to its business or operations that would explain the recent surge in its share price and increased trading volume.

As disclosed previously, the Company is actively exploring various financing options to support its business plan and continues to focus on its strategic initiatives.

ABOUT EXRO TECHNOLOGIES INC.

Exro Technologies Inc., bolstered by its strategic acquisition of SEA Electric, is a leading clean technology company that has developed innovative power control electronics. This includes the Coil Driver™, Cell Driver™, and SEA-Drive® solutions that enhance the capabilities of electric motors and batteries. The Company offers original equipment manufacturers (OEMs) a comprehensive e-propulsion solution that delivers unmatched performance and efficiency. Exro is committed to transforming global energy consumption, promoting a circular electrified economy by maximizing results with minimal energy usage.

For more information, please visit our website at www.exro.com.

To view our Corporate Presentation, visit us at www.exro.com/investors.

Follow us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements include all statements that are not historical facts, identifiable by terms like “plans,” “expects,” “estimates,” “intends,” “anticipates,” or similar phrases. Such statements involve risks and uncertainties as disclosed under the “Risk Factors” section of the Company’s filings with Canadian regulators, potentially causing actual results to differ materially from expectations. Readers should not place undue reliance on these statements, as they are only valid as of the release date and the Company does not intend to update them unless required by law.

This information is qualified by cautionary statements and risk factor disclosures found in the Company’s filings with Canadian securities regulators, including the annual information form for the financial year ended December 31, 2024, as well as financial statements filed with the securities regulatory authorities in certain Canadian provinces, available at www.sedarplus.ca. Should risks or uncertainties materialize, or if underlying assumptions prove incorrect, actual results may vary significantly from those expressed herein. The Company aims to identify significant risks and uncertainties but may not capture all that could affect anticipated results. The Company does not commit to update this forward-looking information unless legally required.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada is responsible for the adequacy or accuracy of this press release.

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SOURCE Exro Technologies Inc.