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Taiga expands its business into South America through up to $25M exclusive 3-Year distribution agreement with Ventura

TAIMF | January 17, 2024

MONTREAL, Jan. 17, 2024 /PRNewswire/ - Taiga Motors Corporation (TSX: TAIG) ("Taiga" or the "Company"), the world's leading off-road electric vehicle (EV) manufacturer, is thrilled to announce its expansion into South America by signing an exclusive distribution agreement with Comfort Indústria E Comércio Ltda ("Ventura" or the "Distributor") for an initial term of 3 years. With over 40 years of experience and 90 dealerships across Brazil, Ventura has been chosen as Taiga's exclusive distributor in Brazil, Argentina, Chile and Paraguay for its OrcaTM personal watercraft (PWC). During the initial term, Ventura has committed to purchase Taiga's products for a minimum purchase value of CAD$13.7 million in revenues (based on MSRP) with the optionality to buy additional products which, if fully purchased, would equate to a total contract purchase value of up to CAD$25 million.1

Through this expansion, Taiga is thrilled to introduce its Orca line to a new global market. "Taiga continues to strategically expand its global business, and Brazil being one of the fastest growing marine markets in South America made perfect sense," said Rodrigo Arrambide, Taiga's Director of Commercial Strategy and Operations. "This expansion in South America will also allow us to offset North American seasonality and further secure our Orca personal watercraft line as a year-round business."

Ventura, one of Brazil's leading and most respected boat manufacturers, was chosen for its extensive knowledge and experience in distributing and servicing premium, top-of-the-line marine products. Andre Motta, co-owner of Ventura, stated, "We are thrilled to be the new, exclusive distributor for Taiga in Brazil, Argentina, Chile and Paraguay, and offer our customers a way to explore the magnificent waters of our region in a more sustainable way." This collaboration is set to usher in a new era of sustainable water exploration and recreation in South America.

"Ventura has been expanding rapidly and the addition of the world's first 100% electric PWC to our portfolio further solidifies our position as a leader in South America, ensuring we continue to deliver innovative products to our dealers and customers", added Carlos Motta, co-owner of Ventura. An official launch will take place in the coming weeks with the opportunity for test rides, while a fleet of Taiga's most recent model, Orca Performance, will be available in all Ventura showrooms across Brazil.

Orca: sustainable water exploration without compromise

Orca Performance is a leap forward with an innovative hull, battery and electric propulsion technology. Powered by Taiga's sixth-generation integrated motor-inverter Tractive Unit, Orca Performance delivers greater efficiency with up to 120 kW of peak power (up to 160 hp) and 170 Nm of torque, resulting in a top speed of 100 km/h*. The precision moulded hull has been hydrodynamically optimized, balancing playful carving and efficient cruising across varied conditions. This is coupled with a low centre of gravity from the battery below the waterline, delivering leading stability through high-speed manoeuvring.

The sealed lithium-ion battery has been optimized to safely deliver maximum power across its lifetime under high vibrations and saltwater environments, providing energy for up to two hours of riding. Using standard automotive charging systems, Orca Performance can be easily charged with the included mobile connector overnight on any outlet, with Level 2 chargers in 3.5 hours or an optional DC Fast Charging to 80 per cent in under 40 minutes*.

Selected as one of the Best Inventions of 2022 by TIME Magazine and winner of the Fast Company 2022 World Changing Ideas Award and 2022 Best of What's New Award from Popular Science, Taiga is thrilled to bring its EVs to South America and redefine powersports and the marine industry by making them more sustainable, accessible and exhilarating than ever.

About Taiga

Taiga (TSX: TAIG) is a Canadian company reinventing the powersports landscape with breakthrough electric off-road vehicles. Through a clean-sheet engineering approach, Taiga has pushed the frontiers of electric technology to achieve extreme power-to-weight ratios and thermal specifications required to outperform comparable high-performance combustion powersports vehicles. The first models released include a lineup of electric snowmobiles and personal watercraft to deliver on a rapidly growing demand from recreational and commercial customers who are seeking better ways to explore the great outdoors without compromise. For more information, visit www.taigamotors.com

About Ventura

Ventura has been Brazil's leading and most respected boat manufacturer since 1983, shaping the industry for over 40 years. The company has a remarkable track record of delivering over 20,000 boats ranging from 19 to 55 feet and has set new standards for quality and innovation. Today, Ventura boasts a strong distribution network of 90 dealers across South America. For more information, visit ventura.com.br

For more information, interview or invitations to the launch event:
Gabriela Schiavoni | +55 37 99111-4344 | marketing@venturamarine.com.br
Annick Lauzon | +1 514 922 9225 | annick.lauzon@taigamotors.ca

Forward-Looking Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements generally, but not always, can be identified using forward-looking terminology such as "outlook", "objective", "may", "could", "would", "will", "expect", "intend", "estimate", "forecasts", "project", "seek", "anticipate", "believes", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events and the negative of any of these terms. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond Taiga's control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the consumers' experience, the Company's current and future business and strategic plans, the expected operations of the Company, expectations regarding market trends, uncertainties relating to the economic conditions in the markets in which Taiga operates, vehicle sales volume, anticipated future sales growth, the successful supply of parts in a timely manner, the success of Taiga's strategic agreements and other statements that are not historical facts, as well as those described in Taiga Motors's management's discussion and analysis for the three and nine-month periods ended September 30, 2023, and under the "Risk Factors" section of Taiga Motors's annual information form filed on March 30, 2023, available on Taiga's SEDAR profile at www.sedarplus.ca.

Forward-looking statements reflect management's current beliefs, expectations and assumptions and are based on information currently available to management. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes, or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated by such statements.

All forward-looking statements included in this news release are qualified by these cautionary statements. Unless otherwise indicated, the forward-looking statements contained herein are made as of the date of this news release, and except as required by applicable law, Taiga does not undertake any obligation to publicly update or revise any forward-looking statement, whether because of added information, future events or otherwise.

* Performance and Specifications: Specifications are given for informational purpose only based on Taiga's testing. Metrics (such as weight, range, speed, acceleration and battery life) may vary based on the environment, terrain, weather conditions, local regulations and final build of the ordered product.

1 The agreement does not contain any take-or-pay provision, although Taiga has the right to unilaterally terminate the agreement in the event Ventura does not comply with its minimum purchase commitment during the initial term.