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XL Fleet and Rubicon Collaborate to Accelerate Fleet Electrification

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Collaboration to provide fleet Electrification-as-a-Service to haulers to reduce capital and operating costs while lowering emissions

BOSTON -- XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leader in fleet electrification solutions for commercial and municipal fleets, announced an agreement with Rubicon, a software platform that provides smart waste and recycling solutions for businesses and governments worldwide, to bring XL Fleet’s offerings for fleet electrification to Rubicon’s network of waste and recycling hauler partners.

This will allow XL Fleet to grow its customer base by jointly approaching Rubicon’s expansive partner network with the Electrification-as-a-Service offering. XL Fleet aims to provide hybrid electric, plug-in hybrid and all-electric solutions, as well as deliver charging infrastructure through its XL Grid division, as a complete, end-to-end offering to Rubicon’s network of more than 7,000 vendor and hauler partners across the United States. XL Fleet and Rubicon can significantly accelerate fleet electrification in this space by reducing upfront costs and complexity. This also creates an opportunity for infrastructure investors to deploy significant capital into clean vehicle and charging infrastructure assets.

With over 150 million customer miles driven and more than 4,300 units on the road, XL Fleet is the leader in fleet electrification solutions for Class 2-6 commercial and municipal vehicles, with plans to expand its product offering into heavy duty applications including waste management. The company is excited to advance on its Electrification-as-a-Service offering and accelerate the electrification of Rubicon’s network of hauler partners.

“We are extremely proud to partner with technology leaders like Rubicon and bring our comprehensive fleet electrification solutions to its broad partner base of fleet managers within the waste management space,” said Tod Hynes, Founder and President at XL Fleet. “The market opportunity to help electrify the waste and recycling industry is significant as fleets look to meet their sustainability goals, and this collaboration expands and advances our existing efforts to capitalize on this growing opportunity. With the help of XL Fleet’s electrification offering, Rubicon will be able to offer solutions to its network of hauler partners, and bring enhanced cost-efficiency, convenience and performance to their fleets.”

“We are committed to securing smart waste and recycling solutions for our customers and partners, who are now increasingly looking to electrify their fleets and drive tangible sustainability success in their businesses and operations,” said David Rachelson, Chief Sustainability Officer at Rubicon. “With XL Fleet’s cutting-edge electrification solutions, analytics capabilities, and charging infrastructure solutions, we can deliver real value by streamlining the process of fleet electrification. Rubicon is looking forward to helping our sustainability-focused hauler partners electrify their recycling and waste management fleets with the help of XL Fleet’s comprehensive Electrification-as-a-Service suite of offerings.”

This latest partnership builds on XL Fleet’s existing initiatives in the waste and recycling space announced earlier this year, including a key partnership with refuse trucks provider Curbtender, to develop all-electric and plug-in hybrid vehicles. For sales inquiries related to this partnership, please contact: [email protected].

About XL Fleet Corp.

XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with more than 150 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric drive systems can increase fuel economy up to 25-50 percent and reduce carbon dioxide emissions up to 20-33 percent, decreasing operating costs and meeting sustainability goals while enhancing fleet operations. XL Fleet’s plug-in hybrid electric drive system was named one of TIME magazine's best inventions of 2019. For additional information, please visit www.xlfleet.com.

About Rubicon

Rubicon is a software platform that provides smart waste and recycling solutions for businesses and governments worldwide. Using technology to drive environmental innovation, the company helps turn businesses into more sustainable enterprises, and neighborhoods into greener and smarter places to live and work. Rubicon’s mission is to end waste. It helps its partners find economic value in their waste streams and confidently execute on their sustainability goals. Learn more at Rubicon.com.

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