Mr. Justin Holland reports

EGUANA AND ITOCHU AMEND UNSECURED CONVERTIBLE DEBENTURE MATURITY DATE TO APRIL 30TH

Eguana Technologies Inc. has reached an agreement to amend the maturity date of the ITOCHU Corp. unsecured convertible debenture to April 30, 2026, providing additional runway as the partners finalize a longer-term solution. Consistent with prior extensions, the amendment includes all accrued interest.

"We remain in active discussions with ITOCHU and expect to finalize a long-term solution within the second quarter, which we believe will have favorable balance sheet implications," said Eguana chief executive officer Justin Holland. "Both the North American and Tokyo-based teams continue to be highly collaborative and solutions-oriented as our utility channel opportunities progress toward rollout."

The company also continues to advance key commercial and technical initiatives, including:

• Completion of additional feeder improvement installations in Western Canada;
• A collaborative agreement with a leading Alberta electricity distributor to demonstrate distributed energy storage benefits;
• A partnership with Shadow Power to support third party ownership models;
• Successful final testing for a Northern California virtual power plant (VPP) rollout expected in the coming months.

Mr. Holland added, "We've seen continued success validating our hardware and software platforms across multiple VPP environments in both the U.S. and Canada, and we expect this to translate into increased volumes through our utility channels over the balance of the year."

These developments support the company's path toward scaled deployment and improved financial positioning in 2026.

About ITOCHU Corp.

The history of ITOCHU dates back to 1858, when the company's founder, Chubei Itoh, commenced linen trading operations. Since then, ITOCHU has evolved and grown over 150 years. With approximately 110 bases in 63 countries, ITOCHU, one of the leading sogo shosha, is engaging in domestic trading, import/export and overseas trading of various products, such as textile, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment in Japan and overseas.

About Eguana Technologies Inc.

Based in Calgary, Alta., Canada, Eguana designs and manufactures high performance residential and commercial energy storage systems. 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 Europe, Australia and North America.

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.

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