Penske Energy Formed to Advise and Support Commercial Fleets on EV Infrastructure

Penske Transportation Solutions and ForeFront Power have formed a new joint
venture named Penske Energy LLC. The new venture aims to help commercial
fleet operators plan, design, and deploy optimized EV charging
infrastructure capabilities that support and safeguard their operations.

“Together, we will create synergies benefitting commercial fleet customers
by leveraging Penske’s deep fleet expertise along with ForeFront Power’s
infrastructure and renewable energy development expertise,” said Drew
Cullen, senior vice president of fuels and facilities at Penske
Transportation Solutions.

Penske Energy will provide fleet operators with comprehensive EV charging
and energy infrastructure advisory consulting, including strategic and
operational planning, technology assessment, infrastructure designs, and
practical project implementation.

The Penske Energy joint venture will leverage the core strengths of both
organizations, including Penske’s 55 years of experience providing
commercial transportation solutions, and ForeFront Power’s deep experience
as an award-winning developer and asset manager of zero-emission energy
infrastructure.

“We’re pleased to form the Penske Energy venture to support the commercial
fleet electrification work accelerating across the U.S.,” said Dan Taylor,
chief strategy officer at ForeFront Power. “The ForeFront Power team brings
over a decade of experience working together to develop critical energy
infrastructure for organizations ranging from airports to manufacturing
facilities, food and beverage organizations, hospitals, and universities.
The Penske Energy team is here to guide organizations through the entire
process, from system design, to understanding incentives, to assisting with
implementation and ongoing operation.”

-More-

To guide fleet operators, Penske Energy brings unique expertise in assessing
vehicle and route feasibility, tracking EV policy and incentive
opportunities, and designing and sourcing proven EV charging infrastructure.
By tapping its robust network of implementation partners and technology
suppliers, Penske Energy can help streamline and simplify EV initiatives for
its customers.

“We’ll work with our longstanding supplier partners in the energy and energy
infrastructure sector and bring to bear the best possible solutions
available for our commercial fleet customers,” added Cullen. “Penske Truck
Leasing has long been a trusted advisor with fleet operators and Penske
Energy will follow the same collaborative, customer-focused approach to
solving customer infrastructure challenges.”

In a related move, Travis Hill has been named the new managing director of
Penske Energy. He will focus day-to-day on leading the team, developing
business, and collaborating with customers and partners. Hill joins Penske
Energy from Penske Truck Leasing where he held numerous operations
management and sales responsibilities for more than 20 years with the
organization.

About Penske Transportation Solutions
Penske Transportation Solutions is the universal brand for Penske Truck
Leasing, Penske Logistics, Epes Transport Systems, Penske Vehicle Services,
Penske Energy LLC, and related businesses. Our businesses provide innovative
transportation, supply chain and technology solutions to keep the world
moving forward. Visit www.GoPenske.com to learn more.

About ForeFront Power
ForeFront Power is a leading developer of commercial and industrial-scale
(C&I) solar energy and battery storage projects in the U.S. and Mexico, also
offering vehicle fleet electrification services. Over 15 years of working
together, the ForeFront Power team has developed more than 1,500
behind-the-meter and community solar projects, totaling more than 1.1
gigawatt-DC of renewable electricity. ForeFront Power serves business,
government, education, healthcare and community solar customers with a broad
array of development, asset management and advisory services from its San
Francisco headquarters and via teams based in New York, Mexico City, and
across the U.S. through a hybrid work model. For more information, visit
www.forefrontpower.com.

About Penske Energy
Penske Energy, LLC is a joint venture of Penske Transportation Solutions and
ForeFront Power. Headquartered in Reading, Pennsylvania, Penske Energy helps
transportation companies ease their transition to a cleaner energy future
with expert, zero-emission vehicle advisory consulting and infrastructure
design solutions. A range of solutions are available from Penske Energy
including feasibility studies, funding, engineering, as well as project
design and management services involving construction and equipment
sourcing, installation, maintenance, and a deep network of trusted and
vetted suppliers. Visit www.PenskeEnergy.com to learn more.