Subject to the terms and conditions set forth in the Arrangement Agreement and the Plan of Arrangement, on March 26, 2024, each ElectraMeccanica Share outstanding immediately prior to the effective time of the Arrangement (the Effective Time) was converted automatically into the right to receive 0.0143739 of a share of common stock of Xos, par value $0.0001 per share. As of the Effective Time, the Xos, Inc. board increased the number of directors on the Xos board from seven (7) to nine (9) and appointed three (3) of the ElectraMeccanica board members to the Xos board including each of Luisa Ingargiola, Dietmar Ostermann and Michael Richardson. Six (6) of the seven (7) Xos board members being Dakota Semler, Giordano Sordoni, Ed Rapp, George Mattson, Stuart Bernstein and Alice Jackson, remain on the Xos board.

As of the Effective Time, Burt Jordan ceased serving as a member of the board of the directors of the Company and each committee thereof. Ms. Ingargiola served as a member of the ElectraMeccanica Board since March 2018. Since 2007, Ms. Ingargiola has served as the Chief Financial Officer of Avalon GloboCare Corp.

From 2007 through 2016, Ms. Ingargiola served as the Chief Financial Officer at MagneGas Corporation. Prior to 2007, Ms. Ingargiola held various roles as Budget Director and Investment Analyst in several private companies. She currently serves as a director and audit committee chair for several public companies, including Dragonfly Energy Holdings Corp., Vision Marine Technologies, Inc., and BioCorRx Inc., and previously served on the boards of directors of AgEagle, Progress Acquisition Corporation, Siyata Mobile Inc. and MagneGas Corporation.

Ms. Ingargiola graduated from Boston University with a bachelor?s degree in Business Administration and a concentration in Finance. She also received a Master of Health Administration from the University of South Florida. Mr. Ostermann served as a member of the ElectraMeccanica Board since July 2022.

Mr. Ostermann consulted to many of the top original equipment manufacturers (OEMs), including GM, Ford, Stellantis, Rivian, BMW, Mercedes, VW, Nissan and Hyundai as well as many auto suppliers on topics of business strategy, product development and operations improvement. Mr. Ostermann most recently served as PwC?s Global and US Auto Advisory Leader based in Detroit, MI for 11 years. Prior to PwC, he led the global auto practice of management consulting firm PRTM in Boston.

Prior to that, he spent 17 years at top management consulting firm A.T. Kearney in the United States and Germany, which he also led as their Chief Executive Officer for 3 years. Mr. Ostermann currently serves as an independent director for auto suppliers Shape Corp. and North American Stamping Group.

Mr. Ostermann holds a bachelor?s degree in Industrial Engineering and Business from the University of Hamburg in Germany and a master?s degree in industrial and Systems Engineering and Business from the University of Southern California. Mr. Richardson has served as a member of the ElectraMeccanica Board since November 2022. Mr. Richardson is an accomplished automotive executive with nearly fifty years of global experience, guiding business strategy and building customer solutions.

Most recently, Mr. Richardson served as Interim Chief Executive Officer of Dura Automotive, an independent designer and manufacturer of automotive components, where he was tasked with delivering multiple strategic, urgent initiatives during the global pandemic. Mr. Richardson?s career has included his roles at General Motors, Delphi Corporation and Nexteer Automotive, where he served in multiple positions within the multi-billion-dollar global steering and driveline businesses. Mr. Richardson has focused his career on the development of electric steering systems, steering columns, driveline systems as well as advanced driver assistance systems and key technologies enabling reliable vehicle autonomy.

He began in 1974 as a co-operative student at the former Saginaw steering gear division of General Motors and was ultimately appointed as the Executive Board Director and President of Nexteer. There, Mr. Richardson was responsible for building Nexteer?s global product portfolio, expanding customers served and leading industry growth. He retired from Nexteer Automotive as President and Executive Board Director in 2019.

He currently serves as an independent director on the board of directors for both Dura Automotive and Shape Corporation. Mr. Richardson holds a bachelor?s degree in mechanical engineering from Kettering University and a master?s degree in business administration from Central Michigan University. He also holds a Master Level Professional Board Director Certification from the American College of Corporate Directors.