Mr. Justin Holland reports

EGUANA ANNOUNCES ANTICIPATED LATE FILING OF ANNUAL FINANCIAL STATEMENTS

Eguana Technologies Inc. is anticipating a slight delay in filing its annual financial statements and accompanying management discussion and analysis for the year ended Dec. 31, 2023, by the filing deadline on April 29, 2024, as required by National Instrument 51-102 Continuous Disclosure Obligations.

The reason for the anticipated delay is due to personnel changes within the company's finance team as well as general delays with the audit. Eguana will continue working closely with its auditor and is making every effort to file the annual filings in a timely fashion. The company currently expects to file the annual filings by May 31, 2024, and will issue a news release announcing completion of such filing at that time.

Accordingly, the company is applying to the Alberta Securities Commission, as its principal regulator, and other applicable securities regulators for a voluntary management cease trade order (MCTO). If granted, the MCTO will stay in effect until the annual filings are filed. The issuance of the MCTO, if issued, does not affect the ability of persons other than the chief executive officer and the chief financial officer of the company to trade in the company's securities. The application for the MCTO remains subject to the risk factors described in forward-looking information, including the risk that the MCTO application may not be successful or may not be completed prior to a securities commission issuing a failure-to-file cease trade order against the company following the filing deadline.

The company will comply with the alternative information guidelines set out in National Policy 12-203, Management Cease Trade Order, until the annual filings have been completed. The guidelines, among other things, require the company to issue biweekly default status reports, by way of a news release, so long as the annual filings have not been filed, and these will also be filed on SEDAR+.

About Eguana Technologies Inc.

Eguana Technologies designs and manufactures high performance residential and commercial energy storage systems. The company also markets and sells a suite of microinverter products, which are integrated with its energy storage platform providing consumers with full solar plus storage system architecture for residential and commercial applications. Eguana has two decades of experience delivering grid-edge power electronics for fuel cell, photovoltaic and battery applications and delivers proven, durable, high-quality solutions from its high-capacity manufacturing facilities in North America, Europe and Australia.

With thousands of its proprietary energy storage inverters deployed in the European and North American markets, Eguana is one of the leading suppliers of power controls for solar self-consumption, grid services and demand charge applications at the grid edge. Focused on distributed energy storage applications located at the point of energy consumption, Eguana provides cost-effective solutions to modernize the power grid, from the consumer to the electricity retailer, the distribution utility and the system operator.

We seek Safe Harbor.