Mr. Justin Holland reports

EGUANA ANNOUNCES ANTICIPATED LATE FILING OF ANNUAL FINANCIAL STATEMENTS

Eguana Technologies Inc. is anticipating a delay in filing its annual financial statements for the year ended Dec. 31, 2024, management's discussion and analysis relating to the financial statements, and chief executive officer and chief financial officer certifications relating to the financial statements, by the filing deadline on April 29, 2025, as required by National Instrument 51-102 (Continuous Disclosure Obligations).

The reason for the anticipated delay is due to recent personnel changes within the company's finance team, causing delays with the completion of the audit. The company's finance team has been working with reduced staff, related to the departure of the CFO, which was announced in the company's news released dated March 11, 2025. Management has been working to fill the vacancy for the CFO role, and additional accounting and financial reporting resources have been added to support the finalization of the necessary year-end accounting and reporting. The company is working diligently to complete all year-end working papers, any accounting entries, and the financial statements and management's discussion and analysis documents by May 31, 2025. The company will issue biweekly updates on the progress to completion of the annual filings.

Accordingly, the company has applied to the Alberta Securities Commission as its principal regulator and other applicable securities regulators for a voluntary management cease trade order. 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 CEO and the CFO of the company to trade in the company's securities. The application for the MCTO remains subject to the risk factors, 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.

With respect to late filing: (i) the company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under National Policy 12-203 (Management Cease Trade Orders) and issue biweekly default status reports for so long as the delay in filing the annual filings is continuing, each of which will be issued in the form of a press release; (ii) the company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the annual filings; (iii) the company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the company that has not been generally disclosed.

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. Its 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.