Tornado Global Hydrovacs Ltd. announce that it has entered into a Product Supply and Development Agreement for the co-development and supply of customized hydrovac trucks with Ditch Witch, a division of The Toro Company. The Supply Contract contains a commitment for the delivery of a number of innovative, proprietary hydrovac trucks to the Purchaser that are estimated to generate minimum gross revenue for Tornado in the amount of USD 43,850,000 during the four (4) year term. The Supply Contract requires Tornado to co-develop a customized exclusively Ditch Witch branded hydrovac truck, (including the necessary intellectual property for the design and operation of the hydrovac truck) and then supply the customized hydrovac trucks to the Purchaser commencing in fiscal year 2022 and ending in fiscal year 2025, subject to certain customary commercial terms and conditions.

The sale and delivery of the first customized hydrovac truck to the Purchaser is expected to be completed in Third Quarter 2022.