XL Fleet appoints John Miller to its board of directors

BOSTON–(BUSINESS WIRE)–XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leading provider of fleet electrification solutions, today announced the appointment of John Miller to its Board of Directors. Mr. Miller will provide strategic advice to support the future of the business as the company helps its clients achieve their decarbonization and sustainability goals.

Mr. Miller has over 40 years of executive management experience in the transportation, manufacturing and distribution industries, including senior operations and finance positions in public companies. From 2017 to 2021, he served as CEO of Power Solutions International (OTC Pink: PSIX), a leader in the design, engineering and manufacturing of a wide range of motors and advanced power systems and emissions certified. Prior to Power Solutions, Mr. Miller held operational and financial management positions at Navistar, a global manufacturer of commercial and military trucks, school buses and diesel engines.

“There is a growing global need for decarbonization, and I am delighted to help guide XL Fleet and its leadership team as they help organizations achieve their sustainability goals.” said Mr. Miller. “I look forward to leveraging my experience to support this strong leadership team and to working with the board and management to help transform the future of electrification.”

“We are thrilled to welcome John to our Board of Directors at this time of transformation in the company’s journey,” said Debora M. Frodl, Chair of the XL Fleet Board of Directors. “The Board and management team are confident that John brings a unique depth of relevant business, financial and operational advice that will prove invaluable in guiding the management team and helping the company create value at long term for the stakeholders.”

About XL Fleet

XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with over 180 million miles driven by customers including The Coca-Cola Company, Verizon, the Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric drive systems can significantly increase fuel economy and reduce carbon dioxide emissions, reduce operating costs and meet sustainability goals while improving fleet operations . For more information, please visit www.xlfleet.com.

Forward-looking statements

Certain statements contained in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are generally accompanied by words such as “believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, ” should”, “should”, “plan”, “predict”, “potential”, “seem”, “seek”, “future”, “prospect” and similar expressions which predict or indicate future events or trends or which are not not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and management’s current expectations and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including, but not limited to; the effects of current and future legislation; the highly competitive nature of the Company’s business and the commercial vehicle electrification market; disputes, complaints, product liability claims and/or negative publicity; cost increases or shortages of components or chassis needed to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its pipeline of sales opportunities into binding orders; risks relating to the deployment of the Company’s business and the timing of expected commercial milestones, including the continued global shortage of microchips and limited availability of chassis from automotive OEMs and our dependence on our suppliers; the effects of competition on the Company’s future business; the availability of capital; changes in preliminary financial results for the three months ended September 30, 2021 upon completion of the Company’s financial close procedures or review and completion of procedures by the independent registered public accounting firm of the Company, and other risks discussed under “Risk Factors” in the Company’s current report on Form 10-K filed on March 1, 2022, and other documents that the Company will file with the SEC at to come up. If one of these risks materializes, or if our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update such forward-looking statements.

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