XL - Mergers and acquisitions

XL Fleet Corp. (NYSE:XL) ("XL Fleet" or the "Company"), a leading provider of fleet electrification solutions for commercial vehicles in North America, today announced first quarter 2021 financial results. First Quarter 2021 and Recent Highlights Generated revenue for first quarter of 2021 of $0.7 million, compared to $1.2 million in the prior year Exited first quarter of 2021 with cash balance of $404 million as of March 31, 2021 Achieved over 4,300 cumulative hybrid and plug-in hybrid systems sold through first quarter of 2021 Appointed Cielo Hernandez, an accomplished financial executive with over 25 years of experience, as CFO of XL Fleet Announced acquisition of World Energy

Bolt-on acquisition enables customers to deploy more charging infrastructure at their facilities more rapidly and with a lower total cost of ownership Expands XL Fleet's EV charging infrastructure capabilities and unlocks additional energy management and savings services for customers Expanded platform enables additional sales opportunities for existing and potential XL Fleet customers Profitable business with $18 million of revenue generated in 2020 XL Fleet Corp. (NYSE:XL) ("XL Fleet" or the "Company"), a leader in fleet electrification solutions for commercial and municipal fleets, today announced the acquisition of World Energy Efficiency Services, LLC ("World Energy") for total ca