Exro Technologies provides corporate update

Exro Technologies (EXROF) provided an update on the execution of the near-term strategic milestones established in connection with the Company’s US$30 million credit facility announced on May 16, 2025. The Company successfully satisfied the first set of milestones under the Facility, resulting in the receipt of the initial US$2 million draw. These funds provide operating runway to execute against near-term objectives, including cost optimization, business unit prioritization, and strategic engagement. Exro’s Board of Directors has approved the Company’s 2025 operating plan and initial 13 week Cash Flow forecast, which has also been accepted by the Lender under the terms of the Facility. Exro has entered into an engagement agreement with Cantor Fitzgerald & Co. The Company continues to work toward satisfying the milestone related to its C$15 million in outstanding Convertible Debentures, a requirement for future draws under the Facility. The Company is on track to complete the wind-up of its Australia-based subsidiaries by the end of June 2025.