GAUSSIN : receives an order from AMAZON for 329 electric yard tractors

PRESS RELEASE

Héricourt, 14 December, 2022

GAUSSIN Group receives an order from AMAZON for

329 electric yard tractors

These agreements are for 329 GAUSSIN ATM 38T FULL ELEC yard tractors

(including the previously announced initial order) with delivery to

AMAZON beginning in 2023

GAUSSIN Group will grant warrants to Amazon

GAUSSIN NA, a fully owned subsidiary of GAUSSIN (EURONEXT GROWTH: ALGAU - FR0013495298), a pioneer of clean and smart freight transport, announces an order for 329 GAUSSIN ATM® 38T "FULL ELEC" yard tractors from Amazon, which is inclusive of the GAUSSIN ATM® 38T "FULL ELEC" yard tractors order referenced in Gaussin's financial results release from October 31, 2022. The electric yard tractors will be used at Amazon's U.S. sites.

"This important electric yard tractor order by Amazon represents a significant milestone for GAUSSIN's revenue growth and global expansion. Amazon's choice of GAUSSIN is a recognition of the maturity of our turn-keyzero-emission solutions, and of our technical, functional, and design differentiators," said Christophe Gaussin, CEO and President of GAUSSIN Group. "We look forward to working with Amazon to help achieve their decarbonization goals."

The agreement with Amazon commits to delivering the electric yard tractors to Amazon sites in the United States beginning in 2023. They will be manufactured at GAUSSIN's facility in France, which currently has the capacity to produce 2,400 electric yard tractors per year. The order is subject to terms and conditions, including that it is cancellable without penalty for a specified period in advance of each tractor's scheduled delivery date. GAUSSIN NA is also planning to open a manufacturing facility in the U.S. in 2023 to begin transitioning to local fulfillment.

A clean and flexible technology

GAUSSIN vehicles are distinguished by their performance and modularity. The ATM® tractors are capable of towing loads of up to 38 tons, some of which will feature drive-by-wire capabilities.

An ATM® 38T "FULL ELEC" yard tractors" from the GAUSSIN logistics range to

transport trailers and semi-trailers

A step forward in the U.S. for GAUSSIN

These orders represent a step towards expanding GAUSSIN's commercial and production footprint in North America. They follow previous orders from Plug Power and a series of strategic partnerships and commercial agreements in recent months with other North American companies, the first step in a large- scale deployment across the Atlantic.

GAUSSIN NA has capitalized on recent U.S. federal and state government initiatives to provide financial incentives for electric trucks in the form of subsidies and tax breaks, the tightening of emission regulations, and falling battery prices. These developments provide growth opportunities for companies like GAUSSIN, by making the capital investment required to purchase electric trucks more attractive than their diesel counterparts.

Warrants to subscribe for GAUSSIN shares

Amazon will receive warrants without payment for up to 20% of GAUSSIN's fully diluted shares on a post- issuance basis as of the date of signing of the warrant issuance agreement, subject to shareholder approval at an Extraordinary General Meeting of Shareholders to be convened in 2023. Each warrant will entitle its holder to subscribe to one GAUSSIN share, subject to anti-dilution adjustments.

The warrants, which do not represent a direct investment or acquisition of GAUSSIN shares by Amazon, will have a 10-year term from the date of their issuance after shareholder approval and will vest in three successive tranches based on payments by Amazon to GAUSSIN in connection with the orders during such term, with full vesting either if payments reach $500 million, or upon a change of control of GAUSSIN.

The exercise price for the initial 15% of warrant coverage will be €4.04 (i.e., the volume-weighted average price (VWAP) for the 30 trading days preceding this press release), and the exercise price for the remaining 5% will be determined on the date on which payments made by AMAZON in connection with the orders result in the full vesting and exercisability of the initial 15% and will be equal to ninety percent (90%) of the 30-day VWAP preceding such date.

The theoretical dilution on the shareholding of a shareholder holding 1% of the share capital of GAUSSIN prior to the exercise of all the warrants (calculated on the basis of the number of shares representing the share capital of GAUSSIN as of that date) would be as follows: 0.80% (and 0.75% on a diluted basis).

About GAUSSIN

GAUSSIN is an engineering company that designs, assembles and sells innovative products and services in the transport and logistics field. Its know-how encompasses cargo and passenger transport, autonomous technologies allowing for self-driving solutions such as Automotive Guided Vehicles, and the integration all types of batteries, electric and hydrogen fuel cells in particular. With more than 50,000 vehicles worldwide, GAUSSIN enjoys a strong reputation in four fast-expanding fields: port terminals, airports, logistics and people mobility. The group has developed strategic partnerships with major global players in order to accelerate its commercial penetration: Siemens Postal, Parcel & Airport Logistics in the airport field, Bolloré Ports and ST Engineering in ports, and Bluebus for people mobility. GAUSSIN has broadened its business model with the signing of license agreements accelerating the diffusion of its technology throughout the world. The acquisition of METALLIANCE confirms the emergence of an international group present in all segments of intelligent and clean vehicles.

In October 2021, GAUSSIN won the Dubai World Challenge for Self-Driving Transport.

In January 2022, GAUSSIN successfully completed the 2022 Dakar Rally with its H2 Racing Truck, the first hydrogen-powered vehicle to enter the race and generate zero CO2 emissions.

In March 2022, Christophe Gaussin was named "Hydrogen Personality of the year" at the Hydrogénies - Trophées de l'hydrogène ceremony held at the French National Assembly.

GAUSSIN has been listed on Euronext Growth in Paris since 2010.

More information on www.GAUSSIN.com

More information on www.gaussin.com

*Forward-lookingstatements: This press release contains forward-looking statements. These statements are not historical facts. They include projections and estimates as well as the assumptions on which these are based, statements concerning projects, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, or future performance. These forward-looking statements can often be identified by the words "expects," "anticipates," "believes," "intends," "estimates" or "plans" and similar expressions. Although GAUSSIN's management believes that these forward-looking statements are reasonable, investors are cautioned that forward-looking statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of GAUSSIN, that could cause actual results and events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to, the uncertainties inherent to supply difficulties related to the health situation, shortage of raw materials or current conflicts, decisions of State authorities, changes in exchange rates and interest rates, price inflation. GAUSSIN does not undertake to update any forward-looking information or statements, subject to applicable regulations, in particular articles 223-1 et seq. of the General Regulation of the Autorité des Marchés Financiers.