Mr. John LaGourgue reports

BRENT PHILLIPS TO LEAD NEXT PHASE OF GROWTH AT VICINITY MOTOR CORP.

Vicinity Motor Corp. 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:

Executing the plan to bring production of the Vicinity Lightning electric bus to Ferndale, WA;

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

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."

Brent Phillips, President

Brent Phillips brings more than 30 years of experience in the commercial transportation field including previous leadership roles in distribution and manufacturing including operations, sales, and marketing. Prior to joining Vicinity in 2021, Phillips served as General Manager at Alliance Bus Group, a leading bus distributor. Before Alliance, Phillips was the Vice President of Sales, Commercial Bus Group at REV Group where he was responsible for multiple brands and distribution channels with two manufacturing facilities producing over 3,000 custom units per year. Additionally, Phillips has spent time with Velocity Vehicle Group as Vice President of Sales for the BusWest division.

About Vicinity Motor Corp.Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC) ("VMC") is a North American supplier of electric vehicles for both public and commercial enterprise use. The Company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, as well as the VMC 1200 electric truck to the transit and industrial markets. For more information, please visit www.vicinitymotorcorp.com.

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