HYZON DELIVERS FIRST FOUR FUEL CELL ELECTRIC VEHICLES TO PERFORMANCE FOOD GROUP

Four Hydrogen Trucks to Hit the Road in Southern California as Part of Performance Food Group's Decarbonization Efforts

FONTANA, Calif., Jan. 25, 2024 /PRNewswire/ -- Hyzon Motors Inc. (Hyzon) (NASDAQ: HYZN), a leading hydrogen fuel cell technology developer and global supplier of zero-emission heavy-duty fuel cell electric vehicles (FCEVs), today announced that it delivered four FCEVs to leading food distributor and supplier Performance Food Group (PFG) (NYSE: PFGC), in a joint ceremony. The event, held at PFG's Vistar facility in Fontana, was attended by local government leaders, company leaders, and PFG associates, and showcased the new FCEVs by offering ride along demonstrations.

"Putting these zero-emission trucks on the road marks an important step toward decarbonization goals shared by PFG, Hyzon and the state of California," said Parker Meeks, Chief Executive Officer of Hyzon. "Our fuel cell technology will help Vistar's heavy-duty trucking operations operate emission free and with reduced noise pollution. We are deeply grateful for our partnership with PFG, as it helps to further our collective goals to reduce carbon emissions from heavy-duty trucking.

Meeks added, "The deployment of these vehicles is a major milestone for Hyzon's industry leading technology, and through this partnership we expect to gain valuable insight through real-world operations. Further, we expect that this intelligence will help us to optimize our technology, while working simultaneously to develop the next-generation 200kW fuel cell system."

Hyzon's hydrogen FCEVs have an expected travel range of up to 350 miles today and an expected refueling time of fifteen minutes with fast fill dispensing. PFG plans to insert the vehicles into its fleet and put them in service to deliver snacks, candy, and beverages to its customers. The vehicles will be fueled with hydrogen delivered by Pilot Travel Centers LLC, a leading fuel and energy provider with the largest network of travel centers in North America.

The delivery comes six months after Hyzon and PFG initially announced their fuel cell electric vehicle agreement. Hyzon is one of the first companies to deliver a heavy-duty fuel cell electric truck, also referred to as tractors, in the U.S.

"Food distribution is an essential service and critical to the companies and communities we serve. As we look towards the future, it's important for us to work towards sustainability goals and improve our transportation infrastructure," said Jeff Williamson, Senior Vice President, Operations, PFG. "At PFG, we remain dedicated to reducing our environmental footprint and serving the Southern California region responsibly. We're excited to have partners like Hyzon as we continue to demonstrate our commitment to being a good neighbor to every community we serve."

Zero-emission, hydrogen fuel cell vehicles offer similar benefits and convenience as diesel fuel trucks without the harmful emissions that worsen air quality and have negative environmental impacts. Additionally, FCEVs have numerous advantages over battery electric vehicles (BEVs) in terms of payload, range, and refueling time. FCEVs are expected to be around 6,000-8,000 pounds lighter than BEVs, have a longer range, and can be refueled in as little as 15-20 minutes compared to up to three hours for BEV. These factors make FCEVs a natural choice for distribution and heavy-duty freight companies.

Vistar's southern California office is located in Fontana, a suburb of San Bernardino with more than 200,000 residents and hundreds of businesses that depend on the company's food and beverage distribution services. The company has been at the forefront of transitioning away from diesel to reduce the amount of harmful emissions being spread nationwide. Last August, PFG and Hyzon announced the successful completion of a landmark demo of Hyzon's Liquid Hydrogen FCEV through Temple, TX, where the truck demonstrated its ability to deliver commercial loads on a 16-hour continuous route covering more than 540 miles and including temperatures above 100-degrees Fahrenheit.

With the delivery of these vehicles and subject to a successful trial with Hyzon's next generation 200kW FCEV as previously announced, Hyzon and PFG intend to work together on an agreement for 15 200kW FCEVs and an option for an additional 30 FCEVs.

About Hyzon
Hyzon Motors is a global supplier of high-power fuel cell technology focused on integrating its solutions into zero-emission heavy-duty fuel cell electric vehicles. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon aims to supply zero-emission heavy duty trucks to customers in North America, Europe, Australia, and New Zealand to mitigate emissions from diesel transportation - one of the single largest sources of global carbon emissions. Hyzon collaborates with partners across the hydrogen value chain to bring clean hydrogen to the market to support fuel cell vehicle deployments. Hyzon is contributing to the adoption of commercial fuel cell electric vehicles through its demonstrated technology advantage, fuel cell performance and innovation. Visit www.hyzonmotors.com.

About Performance Food Group Company
Performance Food Group is an industry leader and one of the largest food and foodservice distribution companies in North America with more than 150 locations in North America. Founded and headquartered in Richmond, Virginia, PFG, and our family of companies, market and deliver quality food and related products to 300,000+ locations including independent and chain restaurants; businesses, schools and healthcare facilities; vending and office coffee service distributors; and big box retailers, theaters and convenience stores. PFG's success as a Fortune 100 company is achieved through our more than 35,000 dedicated associates committed to building strong relationships with the valued customers, suppliers and communities we serve. To learn more about PFG, visit pfgc.com.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements. When used in thispress release, the words "aim," "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements, including statements about the estimated performance and development of the hydrogen FCEVs and PFG's plans for the delivered trucks are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyzon disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Hyzon cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyzon, including risks and uncertainties described in the "Risk Factors" sections of Hyzon's Form 10-K for the year ended December 31, 2022 filed with the SEC on May 31, 2023, its Form 10-Q for the quarter ended September 30, 2023 filed on November 14, 2023, and in other documents filed by Hyzon from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements, such as risks related to the ability to convert non-binding memoranda of understanding or vehicle trial agreements into binding orders or sales (including because of the current or prospective financial resources of the counterparties to Hyzon's non-binding memoranda of understanding and letters of intent), or the ability to identify additional potential customers and convert them to paying customers. Hyzon gives no assurance that Hyzon will achieve its expectations.

SOURCE Hyzon Motors Inc.