E INC Names Lisa Scott President of EBlock

• Scott and her leadership team will unify EBlock into a single marketplace bringing land and technology together.

TORONTO, Feb. 16, 2023 /PRNewswire/ - E Automotive Inc. d/b/a E INC (TSX: EINC) (the "Company" or "E INC") and EBlock, an E INC brand, today announced changes to their leadership team, promoting Lisa Scott from Chief Revenue Officer to President of EBlock. This move is intended to help the Company create a unified land and technology leadership structure designed to keep the Company agile and focused on delivering on its land-meets-technology vision.

"Our goal is to create a single marketplace that brings land and technology together so dealers can transact where and how they prefer. Since Lisa joined the Company one year ago, she has been laser-focused on building a strong team to deliver on this goal. She's been instrumental in bringing our land-meets-tech vision to life from our operations and services to our best-in-class digital platform. This move to President is a natural progression for her and the Company to take the next leap," said E INC CEO, Jason McClenahan. "The timing is perfect, considering we've just expanded our presence through the acquisition of Houston Auto Auction earlier this year, and as we continue to build our presence in the Louisiana and Michigan markets."

Prior to joining E INC, Ms. Scott served as the President of PAR North America, a leading nationwide provider of vehicle transition services for over four years, and she has also served as Chief Client Officer at ADESA Canada. Ms. Scott is recognized as a highly skilled, knowledgeable, and visionary leader with a proven track record of motivating her team and delivering extraordinary results in all aspects of the automotive business, professional auctioneering, and auction management businesses.

"I am thrilled to be taking on this new role in such a dynamic company," Scott said. "Our culture, technology, and team are truly unique to this industry and I know we will continue to add value to our partners in the future. EBlock is an extremely viable solution and I am committed to strengthening and refining our offerings in different wholesale verticals as well as introducing our first-to-market solution, LiveLanesTM."

Enabled by LiveLanes, EBlock will be the industry's only combined auction platform bringing together digital and physical inventory. This innovation allows dealers to buy and sell onsite and offsite inventory in the same auction event.

E INC's overarching land-meets-tech strategy consists of acquiring profitable physical auction assets in the company's focused regional markets and integrating them onto the EBlock digital wholesale marketplace platform. EBlock's dealer-to-dealer digital marketplace expands and enhances the reach of a physical auction to attract more sellers and buyers across a broader market. Connecting physical auctions and digital auctions across one single platform will create a network of logistics hubs and improve the flexibility offered to customers to do business where and how they prefer it.

EBlock, an E INC brand, connects land and technology through a real-time dealer-to-dealer digital auction platform that allows dealers to buy and sell cars at EBlock physical auction locations and online in a single auction experience. With set auction times, run lists, and cars bought and sold in 60-seconds, EBlock's platform simulates the physical auction environment with a powerful end-to-end experience.

Whether physically or digitally, EBlock empowers today's most innovative dealerships and wholesalers to buy and sell inventory in less time.

EBlock is headquartered in Toronto, Ontario and Burlington, Vermont. Find out more about EBlock at eblock.com.

About E INC
E INC's mission is to optimize the online vehicle buying, selling, and management experience for automotive dealers and consumers. EINC has a digital platform (the "Platform") that provides automotive dealerships with access to an online wholesale auction marketplace where they can purchase or sell vehicles to other dealers, as well as access innovative software solutions to support dealers' digital retailing and inventory management. Access to E INC's Platform is complemented by ancillary service offerings to assist dealers with supplementary auction related needs, including driving consumer traffic to their digital properties and optimizing other business processes. E INC's digital wholesale marketplace goes to market under the brand EBlock, and E INC's digital retail suite of products goes to market under the brand EDealer.

This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws, including statements regarding the Company's growth goals and expansion of its Platform. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "an opportunity exists", "budget", "goal", "continue", "scheduled", "estimates", "expand", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or, "will", "occur" or "be achieved", and similar words or the negative of these terms and similar terminology. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information.

Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. This forward-looking information is based on our opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks discussed under the "Risk Factors" section of our annual information form for the year ended December 31, 2021,, which is available under our profile on SEDAR atwww.sedar.com. If any of these risks or uncertainties materialize, or if the opinions, estimates, or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.

There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

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SOURCE EBlock Inc