XL Fleet Announces New Executive Team Appointments to Lead the Company’s XL Grid and Legal Organizations

Colleen Calhoun Named VP & General Manager of XL Grid After 25 Years as a Leader in GE’s Energy, Power and Finance Businesses

Jim Berklas Appointed General Counsel & VP of Corporate Development After 11 Years of Public Company Leadership and Closing Over 200 Acquisition and Financing Transactions

BOSTON–(BUSINESS WIRE)–XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leader in vehicle electrification solutions for commercial and municipal fleets, today announced two additions to its executive leadership team designed to support the Company’s rapid expansion plans in 2021 and beyond.

Colleen Calhoun, a clean energy executive who spent over two decades at GE in senior leadership roles across its energy, power and finance businesses, has joined XL Fleet as Vice President and General Manager of the Company’s XL Grid division. In this role, Colleen will be responsible for leading and growing the XL Grid business, which provides commercial and municipal fleet customers with charging infrastructure, energy storage and power solutions for fleets, and advances XL Fleet’s Electrification as a Service Offering.

During her tenure at GE, Colleen held key leadership positions across several successful business units. She served as the head of GE Energy Ventures, leader of Marketing & Strategy for GE’s Power & Water business and head of the Global Growth Markets platform for Energy Financial Services. Colleen was also a senior member of the GE team that launched Current, a leading provider of energy efficiency and digital productivity solutions for commercial buildings and cities. Colleen served as Chief Marketing Officer and head of Business Development and was instrumental in the divesture of the business from GE in 2019. Most recently, Colleen has been a strategic advisor to Commonwealth Fusion, Quaise Inc. and several other corporations, helping them grow and scale their energy-focused businesses. She is a member of the Board of Directors for Quaise, Inc. and the Clean Energy Trust.

XL Fleet also announced it has appointed Jim Berklas, a senior legal and M&A executive, as the Company’s General Counsel & Vice President of Corporate Development. In this role, Jim will oversee the Company’s legal and compliance functions and help execute upon its corporate development initiatives, including strategic M&A investments. Prior to joining XL Fleet, Jim founded a boutique investment bank representing smaller domestic manufacturers and served as the Chief Growth Officer, head of M&A and general counsel of medical device and packaging manufacturer Westfall Technik, where he led the acquisition of 17 companies and improved profitability by over 40%. Jim brings 25 years of legal experience with 11 years of public company leadership and has closed over 200 acquisition and financing transactions.

“One of XL Fleet’s earliest post-merger priorities is to add the key leadership talent needed to help the Company execute on its rapid growth plans,” said Dimitri Kazarinoff, Chief Executive Officer of XL Fleet. “Colleen and Jim bring a wealth of new experience and leadership capabilities to XL Fleet, and we are excited to bring them on board as we begin scaling the organization in 2021.”

About XL Fleet Corp.

XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with more than 140 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric drive systems can increase fuel economy up to 25-50 percent and reduce carbon dioxide emissions up to 20-33 percent, decreasing operating costs and meeting sustainability goals while enhancing fleet operations. XL Fleet’s plug-in hybrid electric drive system was named one of TIME magazine’s best inventions of 2019. For additional information, please visit www.xlfleet.com.

Contacts

Media Contact:
Eric Foellmer, Director of Marketing

(617) 648-8555

PR@xlfleet.com

Investor Contact:
Marc Silverberg, Partner (ICR)

xlfleetIR@icrinc.com