Mr. Justin Holland reports

EGUANA PROVIDES FINANCIAL UPDATE

Eguana Technologies Inc. has provided a financial update.

During October, 2024, Eguana and its senior long-term debt lender continued negotiating a formal loan amendment for the remaining outstanding balance of $6,453,674 (U.S.). The senior long-term debt moved into default in October, 2024, as an anticipated regular monthly payment was not made by the company.

The loan amendment, if completed, is expected to extend the amortization period to May 15, 2026, and to revise monthly principal and interest payments down from $383,378 (U.S.) to $355,744 (U.S.), effective as of the date of the amendment and continuing monthly on the 15th of each month. As part of the amendment, the company expects to issue share purchase warrants, with a term ending on May 15, 2026, and an exercise price of two cents, subject to approval of the TSX Venture Exchange. In accordance with the policies of the TSX-V, the existing 4,934,309 share purchase warrants issued with the original loan would be cancelled. The company expects to finalize the loan amendment in November, 2024, and the final formal terms will be disclosed in the company's quarterly financial reports for the third quarter ended Sept. 30, 2024.

In line with the company's strategic direction and as noted previously in the company's financial reporting and related filings, Eguana Pty. Ltd., the company's Australia subsidiary, will be fully closed and liquidated. The company will continue to focus on North American utility channels, which are better suited for both the Eguana energy storage and Eguana Cloud platforms. The majority of the revenue in Eguana Pty. Ltd. was from rooftop solar installation services and did comprise a significant segment in the current and prior financial year. Continuing customer support will be migrated to the Canadian technical team.

As previously reported in the company's quarterly reports and news releases, the OTC Market Groups informed the company that the Eguana stock has been moved from the OTCQB marketplace. Accordingly, the company will be moved from the OTCQB market to the OTC Pink market, under OTCM: EGTYF.

The company will hold its third quarter shareholder call on Nov. 29, 2024, at 4 p.m. Mountain Time. Call details are as follows.

Canada/United States toll-free:  1-844-763-8274

International toll:  1-647-484-8814

Callers/attendees should dial in five to 10 minutes prior to the scheduled start time and simply ask the operator to join the Eguana call.

About Eguana Technologies Inc.

Eguana's vision is to build the grid of the future by delivering flexible, modular and cost-effective alternatives to traditional grid upgrades. The company's technology provides value to all key stakeholders -- from the consumer to the electricity retailer, the distribution utility and the system operator.

Since 1998, Eguana Technologies has connected utilities with consumers through its high performance commercial and residential energy storage solutions. The Eguana product suite has been designed from the ground up with both the end-user and the utility in mind to transition the power grid seamlessly.

Manufactured in local facilities across the globe to ensure compliance and quality, Eguana's standardized platform allows the flexibility to ensure each product solution is optimized for use in major grid modernization markets.

We seek Safe Harbor.