ROCHESTER, N.Y. - Hyzon Motors Inc. (NASDAQ: HYZN) today announced it will supply its fuel cell electric trucks to Hylane GmbH, a wholly owned subsidiary of DEVK Versicherung, one of Germany’s largest motor insurers. Hylane has purchased 18 Hyzon vehicles, with deliveries expected to begin in late 2022. Under Hylane’s sustainable mobility model, fleet owners can deploy Hyzon vehicles in their operations through a rental agreement with Hylane. Further, it is expected that customers will only pay for the miles actually driven; Hylane plans to cover maintenance or downtime costs. Through this pay-per-use approach, Hylane expects to minimize the risk for customers while accelerating the rate at which zero-emission vehicles replace diesel. Hylane has already confirmed rental contracts for the first vehicles and is in talks with numerous prominent transport companies interested in transitioning their fleets to zero-emission options. Germany is expected to be one of the major global markets for zero emission commercial vehicle technologies in the coming years. The engine room of EU economic activity, Germany recently announced support for a total ban on sales of combustion engine cars from 2035, and there are already significant domestic incentives in place to transition heavy vehicles off diesel. To support its exclusive focus on climate-friendly transport solutions, Hylane is aligning key elements within the value chain, including energy producers, refuelling infrastructure providers, and government subsidy programs. Through the coordinated management of these resources, Hylane aims to provide sustainable and flexible mobility management to its customers. “Hyzon’s singular mission is to decarbonize transport through zero-emission, hydrogen-powered vehicles,” said Craig Knight, Hyzon CEO and co-founder. “Through Hylane’s sustainable mobility program, customers across Germany can experience first-hand the vehicle performance, driver satisfaction, and emissions reductions of Hyzon’s fuel cell electric trucks.” “Hyzon recognizes that, as with any new technology, customers need the chance to utilize our fuel cell electric vehicle in their regular operations. From past experience, we are confident that once fleet owners have experienced our vehicles, they will be motivated to hasten their transition to zero-emissions. Having a strong partner in the German market has the opportunity to fuel significant long-term growth for Hyzon.”

About Hyzon Motors Inc.

Headquartered in Rochester, N.Y., with U.S. operations in the Chicago and Detroit areas, and international operations in the Netherlands, Singapore, Australia, Germany, and China, Hyzon is a leader in fuel cell electric mobility with an exclusive focus on the commercial vehicle market, and a near-term focus on back to base (captive fleet) operations. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon aims to supply zero-emission heavy duty trucks and buses to customers in North America, Europe and around the world to mitigate emissions from diesel transportation, one of the single largest sources of carbon emissions globally. Hyzon is contributing to the escalating adoption of fuel cell electric vehicles through its demonstrated technology advantage, leading fuel cell performance and history of rapid innovation. Visit www.hyzonmotors.com.

Hyzon Motors Sells 18 Trucks to Hylane Gmbh, Subsidiary of Major German Motor Insurance Provider Devk Versicherung