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25 June 2017

Xplore Announces Update on Strategic Track Realignment

Xplore Technologies (NASDAQ: XPLR) today announced an update on its current strategic realignment. As part of that process, the company filed a Form 8-K on 21 June announcing that Brian Usher-Jones, an independent director, had notified the board of directors that he intends to not stand for reelection at the next annual meeting of the company’s stockholders. The nomination and governance committee of the board is presently searching for potential candidates to serve as an independent director in Mr. Usher-Jones’ place.

"The strategic framework developed over the past year has driven notable progress in our efforts to transition Xplore towards a profitable, cash flow generating business," said Philip Sassower, chairman of the board. "To that end, we continue to improve both our operations and corporate governance. In Fiscal 2017, we reduced operating expenses 21% year-over-year, invested into new sales teams and commenced a number of product refreshes. While progress has been difficult at times, we are pleased to see early indications of success.

"These include growth in orders from our European business lines, continued success with major customer accounts and more than $10 million in cash flow generated in the last six months of Fiscal 2017. Our work is not done, and we remain focused on maximising Xplore’s business opportunities each quarter to take full advantage of the operating leverage embedded in our new operating model."

"We thank Brian Usher-Jones for years of dedicated service to Xplore and our stockholders, including crucial support through our recapitalisation, uplisting to the NASDAQ Stock Market and the Motion asset acquisition," said Sassower. "Brian’s retirement is a continuation of the proactive director rotation initiative Xplore embarked upon last fall, and will represent the third new independent director to join our board in the span of just nine months.

"We previously announced the appointment of Tom Pickens as an independent director in November 2016, and Don Neville as an independent director and chair of our audit committee in January 2017. We look forward to welcoming another new independent director with experience and insights relevant to Xplore’s strategic focus."

Xplore also announced that its compensation committee had commenced a comprehensive review of the company’s compensation practices following the change in executive structure announced in April, in which Mark Holleran was promoted to the role of chief executive officer, formerly occupied by Mr. Sassower, in addition to his position as president of the company. The review is ongoing and recommendations of the compensation committee will be reviewed by the full board upon completion of the process.

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