Mr. Justin Holland reports

EGUANA PROVIDES BI-WEEKLY UPDATE ON ANNUAL FILINGS

Eguana Technologies Inc. today provided an update with respect to its previously announced management cease trade order (MCTO) in connection with the company's filing of its audited annual financial statements and management discussion and analysis (MD&A) for the financial year ended Dec. 31, 2024, and the applicable chief executive officer and chief financial officer certifications.

Further to the company's news release dated April 23, 2025, the company's principal regulator, the Alberta Securities Commission, granted the MCTO on May 6, 2025, under National Policy 12-203, Management Cease Trader Orders. Pursuant to the MCTO, the CEOs and the CFO of the company may not trade in securities of the company until such time as the company files the annual filings and the commission revokes the MCTO. During this period, the company will cease any share buyback activities under its normal course issuer bid, and has undertaken not to, directly or indirectly, issue or acquire securities from an insider or employee of the company. The MCTO does not affect the ability of shareholders to trade their securities.

Management and the accounting team continue to make progress in preparing the annual filings and will file as soon as practicable. The delay in filing the annual filings is a result of unexpected delays experienced by the company. It is the company's reasonable expectation that the annual filings will be finalized in the coming weeks.

The company will issue a news release announcing completion of the filing of the annual filings, at such time as they are completed and filed. Until the company files the annual filings, it will comply with the alternative information guidelines set out under NP 12-203, including issuing biweekly default status reports by way of news releases, which will be filed on SEDAR+.

In addition, the company confirms that since the date of the announcement: (i) there has been no failure by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (ii) there has not been any other specified default by the company under NP 12-203; (iii) the company is not subject to any insolvency proceedings; and (iv) there is no other 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.