LION ELECTRIC REACHES DEFINITIVE AGREEMENT IN RESPECT OF THE SALE OF INNOVATION CENTER LOCATED IN MIRABEL, QUÉBEC

Core Points - The Lion Electric Company has reached a definitive agreement to sell its innovation center facility in Mirabel, Québec for C$50,000,000 [1][2] - The net proceeds from the sale will be used for the partial repayment of the Company's senior secured non-convertible debentures issued in July 2023 [2] - The transaction is expected to close before the end of 2024, subject to customary closing conditions [3] Company Overview - Lion Electric is a leading manufacturer of all-electric medium and heavy-duty urban vehicles, including zero-emission school buses [4][5] - The company designs, builds, and assembles many of its vehicle components, such as chassis, battery packs, truck cabins, and bus bodies [4] - Lion Electric is recognized as a North American leader in electric transportation [5]