VivoPower International PLC (NASDAQ: VVPR, the “Company”) is pleased to announce that the Company and its wholly-owned subsidiary, Tembo EV Australia Pty Ltd (“Tembo Australia”), has entered into a Supply Agreement with the Evolution Group Holdings Limited (“EGH”, “Evolution”) for the full electrification of its fleet of light utility vehicles for traffic management and fleet management.

Under the definitive agreement, Tembo Australia will convert existing and new vehicles to full electric over the next 5 years, subject to the successful completion of commercial and technical on-road trials, with a target to have the first fully electrified utility vehicle certified and roadworthy in 2023.

Kerry Daly, Non Executive Chairman of Evolution, said “Evolution is constantly evaluating opportunities to offer innovative and competitive solutions to its clients and to the industry as a whole. We have one of the largest fleet of vehicles for traffic management services across Australia and New Zealand and being the first to commit fully to electrification of our vehicles will help to set new eco-friendly standards for the industry. After a review of proposals and capabilities of different electric vehicle conversion companies, the independent board members of Evolution have selected Tembo on the basis of their global experience, capability to deliver, training and change management credentials as well as the broader VivoPower sustainable energy solutions offering.”

Evolution will be the first traffic management company in the world to commit to fleet electrification and repowering, which is in keeping with its objective to deliver cost-effective, sustainable and environment-friendly solutions for clients from both the private and public sectors in Australia and New Zealand.

Gary Challinor, Chief Operating Officer of VivoPower, said “We are delighted to have been selected for this important agreement and partnership to repower Evolution’s fleet of light utility vehicles for traffic control and fleet management. It is a first for the repowering of an existing fleet in Australia and New Zealand and also a first for the traffic management sector. We are looking forward to working closely with Evolution, not only to provide conversion EV powertrain kits, ruggedization and customization, but also importantly to deliver training and change management, as well as complimentary sustainable energy solutions”. Sharing some company expansion plans on the occasion, he added “Tembo is currently evaluating options and in discussions with financiers for establishing assembly facilities in Australia and is considering South East Queensland as a preferred location.”

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• Definitive distribution agreement for a minimum of 4,000 kits until December 2027
• Represents VivoPower’s largest distribution deal to date for Tembo kits
• Definitive agreement increases total commitments and orders to 10,000 kits
• Heralds Tembo’s entry into second hand vehicle repowering market
• Total addressable market for second hand vehicle repowering estimated to be worth $110 bn*

VivoPower International PLC (NASDAQ: VVPR, the “Company”) is pleased to announce that the Company and its wholly-owned subsidiary, Tembo e-LV B.V. (“Tembo”), have entered into a Definitive Distribution Agreement with Energy Trading Company Mauritius (“ETC Mauritius”) to sell, distribute and market Tembo electrification conversion kits for Toyota 4×4 second-hand vehicles in the Republic of Kenya.

Tembo e-LV Conversion Kits

Under the agreement, ETC Mauritius has committed to sell a minimum of 4,000 Tembo e-LV conversion kits from execution of this agreement until 31^st December 2027 across various industry sectors in Kenya. ETC Mauritius will be responsible for acquiring Toyota second-hand vehicles, converting the vehicles to ruggedised e-LVs using Tembo solutions, selling the units to end-customers and providing after-sale servicing and maintenance with support from Tembo.

This agreement marks VivoPower’s largest distribution deal to date for Tembo e-LV conversion kits, based on number of kits. Sectors where the Tembo e-LVs will be used are wide-ranging, including government services, agriculture, tourism and mining. Importantly, VivoPower is also entering the second-hand vehicle market, which represents a considerably larger addressable market than that for conversion of new vehicles and allows for on-road applications of our e-LV kit.

Tembo’s conversion kits transform diesel-powered Toyota Land Cruiser and Hilux vehicles into ruggedised electric light vehicles for use in mining and other hard-to-decarbonise sectors. Tembo e-LV products are a key component of VivoPower’s turnkey net-zero solutions to assist both government and corporate enterprises accelerate towards their decarbonisation goals.

Kevin Chin, Executive Chairman and CEO of VivoPower, said:

“We are delighted to announce this distribution partnership with ETC, given their longstanding and deep ties with both government and the private sector in Kenya. This partnership is a landmark milestone for Tembo e-LV on two fronts: it represents our single largest commitment of future orders for Tembo e-LV conversion kits at all levels within a single country and importantly it heralds our entry into the second-hand vehicle repowering market, which effectively multiplies our total addressable market. We look forward to working closely with the ETC team to deliver our solutions to Kenya, assisting both government and private sector achieve their energy transition goals over the next five years and beyond.”

Sacha E Cook, CEO of ETC Mauritius, said:

“We are delighted to become a distributor of Tembo e-LVs in Kenya, which will allow us to play a significant role in achieving our country’s net zero targets by 2030. Having evaluated a number of alternatives, we decided to partner with Tembo, with which we can lead the way to decarbonise key sectors, including mining, public sector, agriculture and tourism across the country. We look forward to becoming part of the Tembo e-LV family and building a solid partnership in the coming years.”

About VivoPower

VivoPower is an award-winning global sustainable energy solutions company focused on battery storage, electric solutions for customised and ruggedised fleet applications, solar and critical power technology and services. The Company’s core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status. VivoPower is a certified B Corporation with operations in Australia, Canada, the Netherlands, the United Kingdom, the United States, and the United Arab Emirates.

About ETC Mauritius

Energy Trading Company Mauritius currently has investments and operations in clean energy (50% of Rift Gas Ltd, Kenya) and micro mobility company (SKOOT, United Kingdom). The fundamental principle and driving force of the business and its investment portfolio is to contribute to achieving Net Zero across the clean energy and transport sectors.

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