Loop EnergyTM (TSX: LPEN), a designer and manufacturer of hydrogen fuel cells for commercial mobility, joins Rampini Carlo SpA, an Italian bus manufacturer, in unveiling its first hydrogen-electric bus, the HYDRON, at the Next Mobility Exhibition in Milan, Italy, today.

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HYDRON hydrogen-electric bus by Rampini powered by a Loop Energy fuel cell (Photo: Business Wire)

Rampini is the third Loop Energy customer to launch a hydrogen-electric bus platform in as many months. It comes after Rampini decided to stop producing diesel buses in 2018 to focus on offering electric platforms, a trend the industry is following.

Fuel efficiency was the primary driver in Rampini’s decision to select Loop Energy’s fuel cell for its hydrogen-electric bus platform. Lower fuel consumption in buses can provide cost savings on fuel, extended range and smaller physical footprint requirements, decreasing the total cost of ownership for fleet operators.

With more than 50 years of experience manufacturing commercial vehicles, Rampini is committed to offering a diverse range of zero-emissions platforms. The HYDRON is Rampini’s first commercially available hydrogen-electric bus. It joins its battery-electric bus, waste collection truck and power equipment product offerings operating in Spain, France, Germany, Austria and Greece. Rampini has several HYDRON buses in production with Loop Energy fuel cells.

Rampini developed the HYDRON bus using its battery-electric bus model, with modifications to incorporate fuel storage and a Loop Energy S300 (30 kW) fuel cell engine. At 8-metres long, the bus has capacity for up to 48 passengers and is fitted with a 10.8 kilogram hydrogen tank that allows for a range of 450 kilometres. The extended range of the bus means operators do not have to refuel while in service.

“Rampini is leading the way with their commitment to transition away from diesel and deliver an electric vehicle product line. The launch of yet another hydrogen-electric bus by experienced manufacturers is a strong indicator of the growing demand worldwide,” said Loop Energy President & CEO, Ben Nyland. “I was fortunate to tour Rampini’s production centre in Umbria, Italy, and I am extremely impressed by their commitment and capacity to manufacture high-performing electric buses to meet the rapidly growing needs of Italian fleet operators.”

“We are very grateful for Loop Energy’s support at the Next Mobility Exhibition and contribution to the launch of our HYDRON bus,” said Rampini General Manager, Fabio Magnoni. “A few years ago, we decided to focus on electric buses instead of diesel and the interest from customers around Europe has been exceptional. To offer a hydrogen-electric bus means we can deliver fleet operators a reliable and economical zero-emissions solution.”

Home to some of the largest commercial vehicle manufacturers in the world, Italy is well-positioned to deliver zero-emissions vehicles to European and other global markets. Various incentive programs, including the EU-funded Recovery Plan to develop zero-emission public transit vehicles, mean numerous manufacturers and fleet operators are promptly transitioning to hydrogen-electric vehicles.

Rampini joins fellow Loop Energy customers Aluminum Revolutionary Chassis Company (Australia), NGVI (South Korea) and Mobility & Innovation (Slovakia) in unveiling a hydrogen-electric bus platform in 2022. All the buses will undergo trials with fleet operators in their respective markets.

The bus will also be showcased at the FIAA Bus and Coach Fair in Madrid on October 18, 2022.

About Rampini Carlo SpA

The history of Rampini Carlo SpA extends back to 1945 in Umbria, the green heart of Italy. For more than 70 years, Rampini has been producing veritable jewels of Italian mechanics, developing high-tech and increasingly environmentally friendly products. Innovative design has always characterised and continues to characterise the company’s growth. Constant evolution, in terms of quality and quantity, has led Rampini to become one of the most important producers on a national level. As a well-established family business, the company is an exemplary model in small- and medium-sized Italian industry.

The Rampini headquarters in Passignano sul Trasimeno, in the province of Perugia, is a concentration of efficiency and technology. The strategic design and marketing activities, combined with the main productions and the professionalism of the technical and operational personnel, allow the company to develop and implement projects of the best technology, in alignment with client needs. Ultimately, passion, fairness and versatility have always been the hallmarks of the company.

About Loop Energy Inc.

Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop’s products feature the company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ is designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.

Forward-Looking Warning

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflect management’s current expectations and projections regarding future events. Particularly, statements regarding the Company’s or Customer’s expectations of future production of hydrogen-electric buses and their deployment, and performance, is forward-looking information, including without limitation statements regarding whether Loop Energy’s fuel cell will provide the benefits of fuel efficiency and these benefits will decrease total cost of ownership, if Rampini’s bus can complete service without refueling, if Italy is well-positioned to deliver zero-emissions vehicles to European and other global markets.

Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward‐looking information. Such risks and uncertainties include but are not limited to if vehicle manufacturers continue to choose to develop hydrogen-electric vehicles over diesel vehicles, if European government incentives do not entice manufacturers and fleet operators to transition zero-emissions vehicles and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated March 23, 2022. Loop disclaims any obligation to update these forward-looking statements.

Investor Inquiries: Investor Relations | Tel: +1 604.222.3400 | investors@loopenergy.com Laine Yonker | Tel: +1 646.653.7035 | lyonker@edisongroup.com Business Inquiries: George Rubin | Tel: +1.604.828.8185 | grubin@loopenergy.com Europe: Luigi Fusi | Tel: +39.028457.3048 | luigi.fusi@loopenergy.com Media Inquiries: Lucas Schmidt | Tel: +1.604.222.3400 Ext. 603 | lucas.schmidt@loopenergy.com Giuseppina Barluzzi | Tel: +39 075 829891 | g.barluzzi@rampini.it

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