9539-5034 Québec Inc. acquires The Lion Electric Company

McCarthy Tétrault LLP is pleased to announce that it acted as counsel to 9539-5034 Québec Inc. (the "Purchaser"), a consortium of Québec investors, in connection with the successful acquisition of The Lion Electric Company ("Lion" or the "Company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles. The Purchaser is a corporation established by a group of Québec investors, represented by Mr. Pierre Wilkie, a director of the Company, and Mr. Vincent Chiara, President of the Montréal-based real estate developer Groupe Mach. The transaction, contemplated by the subscription agreement (the "Definitive Agreement"), closed on May 23, 2025. The closing followed the issuance of a reverse vesting order (the "Reverse Vesting Order") by the Superior Court of Québec (Commercial Division) on May 22, 2025. The Reverse Vesting Order approved the Definitive Agreement and all related transactions, including the reorganization step plan dated May 15, 2025. As previously disclosed, the transaction was implemented pursuant to proceedings under the Companies' Creditors Arrangement Act (Canada) and marks the culmination of a Court-supervised sale and investment solicitation process. As a result of the closing, the Purchaser has become the sole shareholder of Lion Electric Company.

McCarthy Tétrault advised 9539-5034 Québec Inc. with a team led by Hugo A. Babos-Marchand, Chrystelle Chevalier-Gagnon, Gabriel Faure, Hadrien Montagne, Marie-Soleil Landry, Alexandra Carbone and Laurence Cromp-Lapierre that included Charles-Étienne Pressé, Francis Laperrière-Racine, Guillaume Giguère, Thierry Côté and Brianna Bernhardt.