Kevin Douglas Announces Disposition of Common Shares of Westport Fuel Systems Inc.

LARKSPUR, Calif., March 26, 2021 /CNW/ - Kevin Douglas of 125 E. Sir Francis Drake Blvd., Suite 400, Larkspur, California, 94939, has announced today that he sold 636,261 common shares (the "Sale Shares") in the capital of Westport Fuel Systems Inc. (the "Company") through and on behalf of the Douglas Family Trust, the K&M Douglas Trust, James E. Douglas III and the Douglas Irrevocable Descendants Trust in three separate transactions occurring on March 19, 2021 (as to 274,400 Sale Shares) (the "19 Disposition"), March 22, 2021 (as to 207,846 Sale Shares) (the "22 Disposition") and March 23, 2021 (as to 154,015 Sale Shares) (the "23 Disposition" and, together with the 19 Disposition and the 22 Disposition, the "Dispositions").

The Dispositions were undertaken through the facilities of the NASDAQ Stock Market. The Common Shares sold in the 19 Disposition were sold for approximately C$11.05 on average per Common Share (based upon the U.S. dollar daily average rate of exchange of the Bank of Canada on the date of the 19 Disposition) for total proceeds of approximately C$3,022,578.65. The Common Shares sold in the 22 Disposition were sold for approximately C$10.92 on average per Common Share (based upon the U.S. dollar daily average rate of exchange of the Bank of Canada on the date of the 22 Disposition) for total proceeds of approximately C$2,261.988.17. The Common Shares sold in the 23 Disposition were sold for approximately C$10.23 on average per Common Share (based upon the U.S. dollar daily average rate of exchange of the Bank of Canada on the date of the 23 Disposition) for total proceeds of approximately C$1,570,282.07.   

Prior to the Dispositions, Kevin Douglas, through and on behalf of the Douglas Family Trust, the Douglas Irrevocable Descendants Trust, James E. Douglas III, the K&M Douglas Trust, the Kevin G. Douglas 2012 Trust, the Alexander Douglas 2K3 Trust, the Amanda Douglas 2K3 Trust, the Jake Douglas 2K3 Trust and the Summer 2010 Trust, had ownership and control over 18,712,308 common shares in the capital of the Company (the "Common Shares"), representing approximately 12.99% of the issued and outstanding Common Shares.

Following the Dispositions, Kevin Douglas, through and on behalf of the Douglas Family Trust, the Douglas Irrevocable Descendants Trust, James E. Douglas III, the K&M Douglas Trust, the Kevin G. Douglas 2012 Trust, the Alexander Douglas 2K3 Trust, the Amanda Douglas 2K3 Trust, the Jake Douglas 2K3 Trust and the Summer 2010 Trust, had ownership and control over 18,076,047 Common Shares, representing approximately 12.55% of the issued and outstanding Common Shares.

The Disposed Shares were sold in the ordinary course of Kevin Douglas' investment activities. Kevin Douglas continues to hold Common Shares in the ordinary course of his investment activities and may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold securities of the Company.

The Douglas Family Trust, the K&M Douglas Trust and the Douglas Irrevocable Descendants Trust are family trusts organized under the laws of the State of California and conducting ordinary investment activities, each with an address at 125 E. Sir Francis Drake Blvd., Suite 400 Larkspur, CA  94939. The head office of the Company is located at 101 – 1750 West 75^th Avenue, Vancouver, British Columbia, V6P 6G2.

To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see the Company's SEDAR profile at www.sedar.com or contact Eileen Wheatman at 1-415-526-2200 or ewheatman@dougtel.com.

SOURCE Kevin Douglas