Mr. Rodrigo Arrambide reports

TAIGA EXPANDS ITS BUSINESS INTO SOUTH AMERICA THROUGH UP TO $25M EXCLUSIVE 3-YEAR DISTRIBUTION AGREEMENT WITH VENTURA

Taiga Motors Corp. will expand into South America through the signing an exclusive distribution agreement with Comfort Industria E Comercio Ltda. (Ventura) for an initial term of three years. With over 40 years of experience and 90 dealerships across Brazil, Ventura has been chosen as Taiga's exclusive distributor in Brazil, Argentina, Chile and Paraguay for its Orca personal watercraft (PWC). During the initial term, Ventura has committed to purchase Taiga's products for a minimum purchase value of $13.7-million in revenues (based on MSRP (manufacturer's suggested retail price)) with the optionality to buy additional products which, if fully purchased, would equate to a total contract purchase value of up to $25-million.

Through this expansion, Taiga is thrilled to introduce its Orca line to a new global market. "Taiga continues to strategically expand its global business, and Brazil, being one of the fastest-growing marine markets in South America, made perfect sense," said Rodrigo Arrambide, Taiga's director of commercial strategy and operations. "This expansion in South America will also allow us to offset North American seasonality and further secure our Orca personal watercraft line as a year-round business."

Ventura, one of Brazil's leading and most-respected boat manufacturers, was chosen for its extensive knowledge and experience in distributing and servicing premium, top-of-the-line marine products. Andre Motta, co-owner of Ventura, stated: "We are thrilled to be the new, exclusive distributor for Taiga in Brazil, Argentina, Chile and Paraguay, and offer our customers a way to explore the magnificent waters of our region in a more sustainable way." This collaboration is set to usher in a new era of sustainable water exploration and recreation in South America.

"Ventura has been expanding rapidly and the addition of the world's first 100 per cent electric PWC to our portfolio further solidifies our position as a leader in South America, ensuring we continue to deliver innovative products to our dealers and customers," added Carlos Motta, co-owner of Ventura. An official launch will take place in the coming weeks, with the opportunity for test rides, while a fleet of Taiga's most recent model, Orca Performance, will be available in all Ventura showrooms across Brazil.

Orca: sustainable water exploration without compromise

Orca Performance is a leap forward, with an innovative hull, battery and electric propulsion technology. Powered by Taiga's sixth-generation integrated motor-inverter tractive unit, Orca Performance delivers greater efficiency with up to 120 kilowatts (kW) of peak power (up to 160 horsepower (hp)) and 170 Newton-metres (Nm) of torque, resulting in a top speed of 100 kilometres per hour (km/h). The precision-moulded hull has been hydrodynamically optimized, balancing playful carving and efficient cruising across varied conditions. This is coupled with a low centre of gravity from the battery below the waterline, delivering leading stability through high-speed manoeuvring.

The sealed lithium-ion battery has been optimized to safely deliver maximum power across its lifetime under high vibrations and saltwater environments, providing energy for up to two hours of riding. Using standard automotive charging systems, Orca Performance can be easily charged with the included mobile connector overnight on any outlet, with Level 2 chargers in 3.5 hours or an optional DC (direct current) fast charging to 80 per cent in under 40 minutes.

Selected as one of the best inventions of 2022 by TIME Magazine, and winner of the Fast Company 2022 World Changing Ideas Award and 2022 Best of What's New award from Popular Science, Taiga is thrilled to bring its EVs to South America, and redefine power sports and the marine industry by making them more sustainable, accessible and exhilarating than ever.

About Taiga Motors Corp.

Taiga is a Canadian company reinventing the power sports landscape with breakthrough electric off-road vehicles. Through a clean-sheet engineering approach, Taiga has pushed the frontiers of electric technology to achieve extreme power-to-weight ratios and thermal specifications required to outperform comparable high-performance combustion power sports vehicles. The first models released include a lineup of electric snowmobiles and personal watercraft to deliver on a rapidly growing demand from recreational and commercial customers who are seeking better ways to explore the great outdoors without compromise.

We seek Safe Harbor.