1. Mr. Kazarinoff received 15,346 shares in exchange for his 20,267 shares of XL Hybrids, Inc., a Delaware corporation ("Legacy XL"), in connection with the Agreement and Plan of Reorganization, dated as of September 17, 2020, by and among Pivotal Investment Corporation II ("Pivotal"), PIC II Merger Sub Corp., a Delaware corporation and wholly owned subsidiary of Pivotal ("Merger Sub"), and Legacy XL, pursuant to which Merger Sub merged with and into Legacy XL (the "Merger"), with Legacy XL surviving as a wholly-owned subsidiary of Pivotal (which subsequently changed its name to "XL Fleet Corp.", the "Issuer").

2. The shares underlying this option vest in 48 equal monthly starting on October 7, 2019 subject to Mr. Kazarinoff's continued service through the applicable vesting dates.

3. Received in the Merger in exchange for a stock option to acquire 5,030,400 shares of Legacy XL common stock for $0.18 per share.