ACQUISITION OF COMMON SHARES OF THE LION ELECTRIC COMPANY BY MARC BEDARD, CEO-FOUNDER

Rhea-AI Summary

On August 30, 2022, CEO-Founder Marc Bedard of Lion Electric Company (LEV) acquired 50,000 common shares at C$4.99 per share, totaling C$249,950. Prior to this transaction, Bedard owned approximately 15.2% of the issued common shares, amounting to 26,458,653 shares and 2,877,641 options. Following the acquisition, his ownership increased slightly to 26,508,653 shares. The shares were acquired for personal investment purposes, with potential for future acquisitions or disposals based on market conditions.

Positive

• CEO Marc Bedard demonstrates confidence in Lion by increasing his share ownership.
• Acquisition price of C$4.99 indicates a calculated investment at current market levels.

Negative

• None.

SAINT-JÉRÔME, QC, Aug. 30, 2022 /PRNewswire/ - On August 30, 2022, Marc Bedard, CEO-Founder of The Lion Electric Company ("Lion") (NYSE: LEV) (TSX: LEV), acquired 50,000 common shares of Lion.

Immediately prior to acquiring the common shares, Mr. Bedard had beneficial ownership of, or control or direction over (including through 9368-2672 Québec Inc., of which Mr. Bedard has control over, directly or indirectly, a majority of the voting shares), 26,458,653 common shares and 2,877,641 exercisable options to purchase common shares, which represented, in the aggregate, approximately 15.2% of the issued and outstanding common shares of Lion on a partially diluted basis. The common shares were acquired through a trade through the facilities of the Toronto Stock Exchange at a price of C$4.99 per common share and an aggregate purchase price of C$249,950. Immediately following the acquisition of the common shares, Mr. Bedard had beneficial ownership of, or control or direction over (including through 9368-2672 Québec Inc.), 26,508,653 common shares and 2,877,641 exercisable options to purchase common shares, representing, in the aggregate approximately 15.2% of the issued and outstanding common shares of Lion on a partially diluted basis.

Mr. Bédard acquired the common shares for investment purposes and may from time to time acquire further common shares, or dispose of common shares, in each case subject to market, economic and other relevant conditions.

Lion's head office is located at 921 chemin de la Rivière-du-Nord, Saint-Jérôme, Québec J7Y 5G2, Canada. For inquiries or to obtain a copy of the related early warning report required under applicable Canadian securities legislation, a copy of which has also been filed on Lion's profile on SEDAR at www.sedar.com, please contact: Isabelle Adjahi, Vice President, Investor Relations and Sustainable Development, Isabelle.Adjahi@thelionelectric.com, 450-432-5466, extension 171

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SOURCE Marc Bedard

FAQ

What did Marc Bedard acquire on August 30, 2022?

Marc Bedard acquired 50,000 common shares of Lion Electric Company on August 30, 2022.

How much did Marc Bedard spend on the shares?

Marc Bedard spent a total of C$249,950 to acquire the shares.

What percentage of Lion Electric does Marc Bedard own after the acquisition?

After the acquisition, Marc Bedard owns approximately 15.2% of Lion Electric's outstanding common shares.

Why did Marc Bedard acquire additional shares?

Marc Bedard acquired the shares for investment purposes.

What was the acquisition price per share?

The acquisition price per share was C$4.99.