Mr. David Johnson reports

WESTPORT AWARDED ADDITIONAL PRODUCTION SUPPLY AGREEMENT FOR EURO 7 LPG FUEL SYSTEMS BY GLOBAL OEM

Westport Fuel Systems Inc. has been designated as the supplier of liquified petroleum gas (LPG) systems to a global original equipment manufacturer (OEM). This is in addition to the previously announced production supply agreement, adding new Euro 7 vehicle platforms planned for production by the OEM. This is forecasted to generate 63 million euros in total revenue from 2025 to 2028. This increases the revenue generated from LPG fuel system supply agreements for Euro 6 and Euro 7 programs with this OEM to approximately 255 million euros.

"We are pleased to become the exclusive supplier of LPG systems to this leading OEM customer and look forward to continuing our commitment to deliver our LPG systems for their LPG fuelled vehicle platforms," said David M. Johnson, chief executive officer of Westport Fuel Systems. "As a leader in providing a diverse portfolio of high-quality alternative fuel systems, we are driving cleaner performance and gaining market share, as LPG powered vehicles are a very affordable path to meet European regulations for lower emissions."

Westport will be supplying its LPG system solutions for this OEM's Euro 6 vehicle applications starting Q4 2023. As a cost-competitive alternative fuel solution to achieve sustainability goals, LPG is an especially compelling option in markets like Europe, where the refuelling infrastructure is well established.

LPG and bio-LPG, also known as propane or autogas, is a clean-burning alternative fuel used to power light-duty, medium-duty and heavy-duty vehicles. LPG fuelled vehicles are a cost-competitive low-emissions alternative to vehicles that use gasoline (petrol) or diesel, and the technology satisfies stringent regulatory requirements for emission reductions. LPG fuelled vehicles are permitted to drive in emission-restricted traffic zones in Europe.

About Westport Fuel Systems Inc.

At Westport Fuel Systems, the company is driving innovation to power a cleaner tomorrow. The company is a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane and hydrogen to the global transportation industry. The company's technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, Westport serves its customers in more than 70 countries with leading global transportation brands.

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