Mr. Jason Roy reports

ELECTROVAYA ANNOUNCES RESULTS OF ANNUAL MEETING OF SHAREHOLDERS

All of the resolutions that shareholders were asked to consider at Electrovaya Inc.'s 2024 annual general meeting held on March 28, 2024, in Toronto, Ont., were approved. The six directors named in the management information circular of the company, being Dr. Sankar Das Gupta, Dr. Raj Das Gupta, Dr. James Jacobs, Dr. Carolyn Hansson, Kartick Kumar and Steven Berkenfeld, were each elected as directors by over 98 per cent of the votes cast for and less than 2 per cent of the votes withheld at the meeting for each director individually. Detailed results of the vote are set out herein.

MNP LLP was reappointed as the auditor of the company.

Additional details are included in the report of voting results filed under the company's profile on SEDAR+.

About Electrovaya Inc.

Electrovaya is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries. The company has extensive intellectual property and designs, develops and manufactures proprietary lithium-ion batteries and battery systems for energy storage and heavy-duty electric vehicles based on its Infinity battery technology platform. This technology offers enhanced safety and industry-leading battery longevity. The company is also developing next-generation solid-state battery technology at its labs division. Headquartered in Ontario, Canada, Electrovaya has two operating sites in Canada and has acquired a 52-acre site with a 135,000-square-foot manufacturing facility in New York for its planned gigafactory.