Mr. Justin Holland reports

EGUANA AND ITOCHU AMEND MATURITY DATE OF UNSECURED CONVERTIBLE DEBENTURE, PROVIDES MEDICINE HAT UPDATE

Eguana Technologies Inc. has reached an agreement with the Itochu Corp. to amend the maturity date of the Itochu unsecured convertible debenture to March 13, 2026, providing additional runway for the partners to finalize negotiation of a longer-term solution. The extension includes all past interest, which was previously extended to the maturity date of the debenture.

"As we continue managing through tight liquidity conditions created by the significant downturn in residential renewable markets over the last few years and further compounded by the lack of payments from a prior U.S. customer, Itochu has remained a valuable and supportive partner to the company, bringing solutions to the table to support our utility channel transition," commented Eguana chief executive officer Justin Holland. "We now have over a megawatt fleet in operation in Western Canada for power grid feeder improvement along with additional fleets in operation in California, Vermont, Hawaii and Nova Scotia. This simply would not have been possible without the support from our many partners, including Itochu."

The company also confirmed its Energy Innovation Challenge-funded project in Medicine Hat, Alta., where Eguana was selected as an award recipient to expand and demonstrate utility-oriented functions in the Eguana Edge distributed energy resource management system on a single feeder, remains on track. Hardware installation of nine Evolve LFP BESS was completed in December, 2025, and the third phase of software development has begun. Through this period, Eguana has been engaging with utilities to gain insight into operations requirements and to optimize the performance of the product. Eguana encourages interested utilities to reach out to schedule a demonstration and discussion with Eguana's development team to create the tools to support the energy transition at the grid edge.

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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