Pinero Group invests in Inzile

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Spanish Pinero group has invested in Inzile AB (publ) (Inzile), as a strategic shareholder and partner in the commercialization of electric vehicles in the Caribbean.

The investment is carried out through Pinero’s subsidiary Corporacion Patrimonial Pinero SL and Pinero’s CEO Encarna Piñero becomes member of Inzile’s Advisory Board.

- We are very satisfied with the collaboration and trust of the Pinero Group, materialized through their entry into Inzile's shareholding and on our Advisor Board, says Håkan Örtenholm, Executive Chairman of Inzile.

The Pinero Hotel group has together with Inzile established the joint company Emos Caribbean SL, for the commercialization of EVs for internal mobility at resorts, transfers to airports, tourist excursions and integrated mobility solutions in the tourism sector, for the Caribbean, Mexico, and Brazil, among other markets.

- We are very excited about our alliance with Inzile and our future joint company Emos, comments Ricardo Moreno, Managing Director of Turiscar. Together we are transforming mobility into a sustainable activity by providing solutions to various hotel companies in the Caribbean, adds Ricardo Moreno.

Pinero is a Spanish group, since many years established within the sectors hotel & resort, real estate and construction. Pinero offers more than 14,000 hotel rooms in the Dominican Republic, Mexico, Jamaica and Spain including residential complexes and golf courses.

Turiscar is responsible for supply and management of transport vehicles within the Pinero group. Inzile has signed an agreement with Turiscar and the companies will work closely together. Turiscar supplies not only hotels & resorts controlled by Pinero but also other hotels & resorts in the Caribbean

For further information, please contact:

Måns Sjöstedt, CEO Inzile,mans.sjostedt@inzile.com, +46 70 946 69 05

Peter Wergens, CFO Inzile, peter.wergens@inzile.com+46 73 325 75 04

About Inzile

Inzile is a Swedish tech company manufacturing intelligent electrically powered vehicles as well as creating modern transport and service solutions for a sustainable community. The company’s vision is to liberate the world from emission of fossil fuels and to accelerate the climate efforts by contributing to sustainable cities that improve quality of life.

Inzile was founded in 2012 based on a strong will to secure a future climate friendly utility vehicle sector. The team consists of some of Scandinavia’s foremost authorities related to electrical vehicles, digitalization, manufacturing and purchasing. Inzile develops, produces, and sells innovative vehicle solutions on the global market based on the demanding Nordic climate, security requirements and environmental standards. The company is based in Sweden with headquarters and production facility located in Västervik, R&D in Tranås and marketing office in Stockholm.

The company's share is traded on Nasdaq First North Growth Market Stockholm.

Redeye AB is the Company’s Certified Adviser, +46 8 121 57 690, certifiedadviser@redeye.se.

For further information, please visit: www.inzile.com

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