XPEL Announces Acquisition of Stratashield LLC

SAN ANTONIO–(BUSINESS WIRE)–XPEL Technologies Corp. (TSXV:DAP.U) has announced its acquisition of
Stratashield LLC, a provider of installation services for automotive
paint protection and window film in Dallas, TX.

Ryan Pape, President and Chief Executive Officer of XPEL, commented,
“We’re excited to welcome Houston Orona and the Stratashield team to the
XPEL family. Houston has a great business and enjoys a strong reputation
in the Dallas-Fort Worth metroplex for providing outstanding service.
This acquisition gives us a local presence in this growing market and is
indicative of our continuing execution of our ‘Get Close to the
Customer’ strategy. We look forward to combining our existing
industry-leading automotive paint protection products with the customer
centric focus that Stratashield is known for, to deliver better value
for both new and existing customers in the Dallas-Fort Worth area.

“Houston will be a great addition to the team, not only as we integrate
his business, but as our Manager of the Dallas-Fort Worth market, where
he will be incentivized to grow, develop and support our entire network
of customers in that area. Texas has long been very important to us and
this acquisition helps to round out our presence in our home state,” Mr.
Pape continued.

Terms of the acquisition were not disclosed.

About XPEL Technologies Corp.

XPEL is the leading supplier of automotive paint, headlamp and window
protection films with over 70,000 vehicle-specific applications and a
worldwide network of trained installers. Using XPEL’s propriety software
and patented materials, our professional design team develops products
that deliver the ultimate in vehicle protection, meeting the demands of
a broad range of makes and models. XPEL is the developer of the Design
Access Program software, and manufacturer of XPEL™ Automotive Paint and
Headlamp Protection Products. XPEL has forged the cutting-edge of
automotive protection technology, and leads the industry in quality,
technical support and customer service.

Additional information can be found on the Company’s website at www.xpel.com

Safe harbor statement

This release includes forward-looking statements regarding XPEL
Technologies Corp. and its business, which may include, but is not
limited to, anticipated use of proceeds from capital transactions,
expansion into new markets, and execution of the company’s growth
strategy. Often, but not always, forward-looking statements can be
identified by the use of words such as “plans,” “is expected,”
“expects,” “scheduled,” “intends,” “contemplates,” “anticipates,”
“believes,” “proposes” or variations (including negative variations) of
such words and phrases, or state that certain actions, events or results
“may,” “could,” “would,” “might” or “will” be taken, occur or be
achieved. Such statements are based on the current expectations of the
management of XPEL. The forward-looking events and circumstances
discussed in this release may not occur by certain specified dates or at
all and could differ materially as a result of known and unknown risk
factors and uncertainties affecting the company, performance and
acceptance of the company’s products, economic factors, competition, the
equity markets generally and many other factors beyond the control of
XPEL. Although XPEL has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward-looking statement can be
guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are
made and XPEL undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

Contacts

XPEL Technologies Corp.
Public Relations:
CommCore Consulting
Group
Dale Weiss, 202-659-4177
dweiss@commcoreconsulting.com
or
Investor
Relations:
Institutional Marketing Services (IMS)
John
Nesbett/Jennifer Belodeau, 203-972-9200
jnesbett@institutionalms.com