THOR INDUSTRIES DEBUTS TWO ELECTRIC RV CONCEPTS AND UNVEILS FIRST PHASE OF EMOBILITY STRATEGY

ELKHART, Ind., Jan. 19, 2022 /PRNewswire/ -- In a highly anticipated presentation at the 2022 Florida RV SuperShow, THOR Industries (THO), the world's largest RV manufacturer, proclaimed "Welcome to the Future" as it unveiled its eMobility strategy around electrification of the RV industry. At the show, THOR displayed two electric RV concepts, a motorhome and a travel trailer. Presented by THOR's leadership team, including Chief Executive Officer Bob Martin, the electric units were specifically designed to create a radical improvement of the RV user experience in an electrified RV world.

"We've been focused on an electrification 'eMobility' strategy for a number of years and have made substantial progress on our journey. Early on, we determined that success for us would not be to simply put our name on the side of an electric chassis built by a third-party electric chassis manufacturer. Instead, as the industry leader, we harnessed emerging technology and co-developed flexible, scalable and customizable platforms on which our family of companies will build distinct products, providng a best-in-class RV user experience," offered Mr. Martin.

The travel trailer concept, named eStream, is built on THOR's exclusive high-voltage electric chassis. Powered by a propriety system, the trailer dramatically reduces loss of range for electric tow vehicles and improves gas mileage for traditional tow vehicles. The high-voltage chassis distinguishes THOR's design from others in the space and offers a number of differentiating benefits, including the ability to charge much faster than low-voltage alternatives, providing the faster recharging experience electric vehicle consumers demand. In its partnership with ZF, THOR and its European subsidiary Erwin Hymer Group, developed the technology specifically to extend the range of towing for electric vehicles.

"Our proprietary technology addresses the top concern of electric vehicle users—range limitation. Studies have established that electric vehicles experience a significant loss of range even when towing a small trailer. The technology we co-developed creates a synchronized relationship between the trailer and the tow vehicle, enabling the trailer to move in harmony with the tow vehicle, reducing the pulling effect required from the tow vehicle. This, in turn, dramatically improves the possible range of the combination. In essence, we've turned the trailer into an electric vehicle. The technology is game-changing for our industry and others," shared Josef Hjelmaker, THOR's Chief Innovation Officer. "Our technology also provides important features including the ability to dramatically improve and extend off-grid camping, power electronics - even your home, operate the trailer from your digital device and remote-control park the trailer after unhitching the tow vehicle, all of which have been very well received and applauded by the RV community. And because our system actively stabilizes the trailer, the self-propelled wheels and dynamic controls enable a superior towing experience, improving the safety of our roads."

The motorhome concept, the THOR VISION VEHICLE (TVV), is built on an electric chassis co-developed with Roush. The TVV motorhome includes a number of unique elements designed to maximize chassis performance. Range extending technologies, including integrated fuel cell components, enable a range of up to 300 miles - well within the average non-stop travel distance of most RV users.

"Our team has conducted a massive amount of research targeted at understanding the impact of design elements on extending range, including aerodynamics of the units. Our strategy to create a unique electric experience specifically tailored for RV users has identified a number of product enhancement opportunities that we can and will implement well before we industrialize the electrified units," stated Todd Woelfer, THOR's Chief Operating Officer. "At the Florida RV SuperShow, we are showcasing two concept units which are only the first outputs from our defined electric RV strategy. Our command of the technologies around the electrified RV experience demonstates THOR's commitment to innovation is an essential part of our growth model and future success which positions us to maintain our global leadership position in the industry. Our electric RV concepts are the stars of the 2022 Florida RV SuperShow and provide a glimpse of the incredible propriety technology we have developed, but the real story is THOR's investment and dedication to continue to be the innovation leader in the RV industry on a global basis."

To join THOR on its electrification journey and learn more about their industry leading electric RV concepts, visit the THOR innovation website at www.thorindustries.com/innovation and sign up for regular innovation updates. There are many more great advancements and announcements to come!

About THOR Industries, Inc.

THOR Industries is the sole owner of operating companies which, combined, represent the world's largest manufacturer of recreational vehicles.

For more information on the Company and its products, please visit www.thorindustries.com.

Forward-Looking Statements

This release includes certain statements that are "forward-looking" statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made based on management's current expectations and beliefs regarding future and anticipated developments and their effects upon THOR, and inherently involve uncertainties and risks. These forward-looking statements are not a guarantee of future performance. We cannot assure you that actual results will not differ materially from our expectations. Factors which could cause materially different results include, among others: the extent and impact from the continuation of the COVID-19 pandemic, along with the responses to contain the spread of the virus, or its variants, by various governmental entities or other actors, which may have negative effects on retail customer demand, our independent dealers, our supply chain, our labor force, our production or other aspects of our business; the ability to ramp production up or down quickly in response to rapid changes in demand while also managing costs and market share; the effect of raw material and commodity price fluctuations, and/or raw material, commodity or chassis supply constraints; the dependence on a small group of suppliers for certain components used in production; the level and magnitude of warranty and recall claims incurred; the ability of our suppliers to financially support any defects in their products; legislative, regulatory and tax law and/or policy developments including their potential impact on our dealers and their retail customers or on our suppliers; the costs of compliance with governmental regulation; public perception of and the costs related to environmental, social and governance matters; legal and compliance issues including those that may arise in conjunction with recently completed transactions; lower consumer confidence and the level of discretionary consumer spending; interest rate fluctuations and their potential impact on the general economy and, specifically, on our dealers and consumers; the impact of exchange rate fluctuations; restrictive lending practices which could negatively impact our independent dealers and/or retail consumers; management changes; the success of new and existing products and services; the ability to maintain strong brands and develop innovative products that meet consumer demands; the ability to efficiently utilize existing production facilities; changes in consumer preferences; the risks associated with acquisitions, including: the pace and successful closing of an acquisition, the integration and financial impact thereof, the level of achievement of anticipated operating synergies from acquisitions, the potential for unknown or understated liabilities related to acquisitions, the potential loss of existing customers of acquisitions and our ability to retain key management personnel of acquired companies; a shortage of necessary personnel for production and increasing labor costs to attract production personnel in times of high demand; the loss or reduction of sales to key dealers; disruption of the delivery of units to dealers; increasing costs for freight and transportation; asset impairment charges; competition; the impact of potential losses under repurchase agreements; the potential impact of the strength of the U.S. dollar on international demand for products priced in U.S. dollars; general economic, market and political conditions in the various countries in which our products are produced and/or sold; the impact of changing emissions and other related climate change regulations in the various jurisdictions in which our products are produced, used and/or sold; changes to our investment and capital allocation strategies or other facets of our strategic plan; and changes in market liquidity conditions, credit ratings and other factors that may impact our access to future funding and the cost of debt.

These and other risks and uncertainties are discussed more fully in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2021 and in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2021.

We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release or to reflect any change in our expectations after the date hereof or any change in events, conditions or circumstances on which any statement is based, except as required by law.

SOURCE THOR Industries, Inc.

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