Mr. David Eaton reports

PENBAR CAPITAL LTD. AND EMISSIONS EV TECHNOLOGIES INC. ANNOUNCE TERMINATION OF AMALGAMATION AGREEMENT

Penbar Capital Ltd., further to its news releases dated Feb. 7, 2024, Jan. 10, 2024, Nov. 27, 2023, Nov. 15, 2023, Oct. 31, 2023, and Oct. 4, 2023, will not be proceeding with its proposed amalgamation with Emissions EV Technologies Inc. (EV) under the original terms at this time, and that the amalgamation agreement dated Nov. 24, 2023, between Penbar, EV, Emissions EV Operating Corp., a wholly owned subsidiary of EV, and 1451356 B.C. Ltd., a wholly owned subsidiary of Penbar, has been terminated pursuant to Section 7.2 of the amalgamation agreement.

Penbar is currently evaluating alternative acquisition opportunities with a view to completing its qualifying transaction.

We seek Safe Harbor.