Brent Phillips to Lead Next Phase of Growth at Vicinity Motor Corp.

• Phillips is promoted to the newly created role of President
• Working alongside William Trainer, Founder and CEO, Phillips will drive strategic and operational initiatives to streamline production and increase vehicle sales across the Company's industry leading mid-size bus and Class 3 EV truck offerings.
• Phillips starts with an initial strategic plan focused on milestones related to the onshoring of production for the Lightning bus in Ferndale, WA, augmenting the Canadian dealer network for the VMC 1200 electric trucks, and the formal launch of the VMC 1200 into the U.S. market.

VANCOUVER, BC / ACCESSWIRE / April 18, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("Vicinity" or the "Company"), North America's leading supplier of mid-size buses and fully electric Class 3 work trucks, has commenced its next phase of growth with the appointment of Brent Phillips as President.

As President, Phillips will lead the sales, assembly, procurement, and engineering teams, while also clearly setting the direction and expansion of the company's sales and operations programs. To this end, the Company has commenced a strategic plan that, among other initiatives, will concentrate efforts on:

1. Executing the plan to bring production of the Vicinity Lightning electric bus to Ferndale, WA;
2. Enhancing the Company's existing VMC 1200 Dealer network across Canada to ensure fleets have access to Canada's only purpose built, fully-electric work truck, and that Dealers have the appropriate support for vehicle sales and service; and
3. Initiating the launch strategy for a network of VMC 1200 Dealers across the U.S.

Commenting on today's announcement Phillips said, "I am honored to be asked by William Trainer to lead the next phase of growth at Vicinity Motor Corp. Will has built an incredibly nimble organization with a long history as a trusted supplier and partner to transit agencies across North America. I will help continue this legacy while driving profitable revenue growth across both our transit bus and EV business units. While our published backlog exceeds $125 million, the market opportunities available to us with sound focus and execution far exceed this. We have a clear strategic plan designed to optimize product availability and sales throughout the balance of 2024 and beyond. Moving forward, we will provide updates on our strategic initiatives while continuing to unlock new opportunities and deliver industry leading trucks and buses."