Eguana Provides Bi-Weekly Update on Annual Filings

Calgary, Alberta–(Newsfile Corp. – May 21, 2025) – Eguana Technologies Inc. (TSX: EGT) (“Eguana” or the “Company“), a leading developer and manufacturer of high-performance energy storage systems, 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 (the “ Financial Statements“) and management discussion and analysis (the “MD&A“) for the financial year ended December 31, 2024, and the applicable CEO and CFO certifications (together with the Financial Statements and the MD&A, the “Annual

Filings“).

Further to the Company’s news release dated April 23, 2025 (the “Announcement“), the Company’s principal regulator, the Alberta Securities Commission (the “Commission“), granted the MCTO on May 6, 2025, under National Policy 12-203 – Management Cease Trader Orders (“NP 12-203“). Pursuant to the MCTO, the Chief Executive Officers and the Chief Financial Officer 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 buy-back 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 bi-weekly 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. Our 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.

To learn more, visit www.EguanaTech.com or follow us on LinkedIn and @EguanaTech on X.

Forward-Looking Statements

The reader is advised that all information herein, other than statements of historical fact, may constitute forward-looking statements and forward-looking information (together, “forward-looking statements“) within the meaning assigned by National Instrument 51-102 – Continuous Disclosure Obligations and other relevant securities legislation. In particular, forward-looking statements include, among other things, that the Annual Filings will be finalized by May 30, 2025, the Company’s compliance with the MCTO and NP 12-203. Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties. Many factors could cause the Company’s actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by forward-looking statements. Such factors include, but are not limited to, the factors set out in the “Risk Factors” section of the Company’s management’s discussion and analysis for the three and nine months ended September 30, 2024 and Company’s management’s discussion and analysis for the year ended December 31, 2023, which may be found on its website or at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252988