Eguana and ITOCHU Amend Unsecured Convertible Debenture Maturity Date to April 30th

Rhea-AI Summary

Eguana Technologies (OTC: EGTYF) announced an amendment to the ITOCHU unsecured convertible debenture, moving the maturity date to April 30, 2026 and including all accrued interest. The change provides short-term runway while both parties work toward a longer-term solution expected in Q2 2026.

The company also reported progress on feeder improvements in Western Canada, a demonstration agreement with an Alberta electricity distributor, a Shadow Power partnership for third-party ownership models, and successful final testing for a Northern California VPP rollout.

Positive

• Debenture maturity extended to April 30, 2026, providing immediate runway
• Successful final testing for a Northern California VPP rollout expected soon
• Collaborative agreement with an Alberta electricity distributor to demonstrate storage benefits
• Partnership with Shadow Power to support third-party ownership models

Negative

• Unsecured debenture still requires a long-term solution by Q2 2026
• Extension is short-term, implying near-term refinancing or further amendment risk

Calgary, Alberta--(Newsfile Corp. - March 23, 2026) - Eguana Technologies Inc. (TSXV: EGT) (OTC Pink: EGTYF) ("Eguana" or the "Company") is pleased to announce it has reached an agreement to amend the maturity date of the ITOCHU Corporation ("ITOCHU") 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 CEO 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; and
• successful final testing for a Northern California virtual power plant (VPP) rollout expected in the coming months.

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

The history of ITOCHU Corporation 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, Alberta Canada, Eguana Technologies Inc. (TSXV: EGT) (OTC Pink: EGTYF) 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.

Company Inquiries

Eguana Technologies Inc.
Justin Holland
CEO
+1.416.728.7635
Justin.Holland@EguanaTech.com

To learn more, visit www.eguanatech.com or follow us on Twitter @EguanaTech.

Forward-Looking Information

The reader is advised that some of the information herein 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, we include, among other things: the Company's ability to obtain necessary approvals from the TSXV and the issuance of the Common Shares.

Forward-looking statements are not a guarantee of future performance and involves 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 the forward-looking information. Such factors include, but are not limited to, risks associated with: failure to obtain necessary regulatory approvals; general economic, market and business conditions; industry capacity; the operations of Eguana's assets, competitive action by other companies, and other factors set out in the "Risk Factors" section of the Company's most recent annual management's discussion and analysis for the three and twelve months ended September 30, 2022 which may be found on its website or at sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking information, which speaks 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 release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289534

FAQ

What did Eguana (EGTYF) announce about the ITOCHU debenture on March 23, 2026?

The company amended the ITOCHU unsecured convertible debenture maturity to April 30, 2026, including accrued interest. According to the company, this extension provides additional runway while parties finalize a longer-term solution expected in Q2 2026.

How does the April 30, 2026 debenture amendment affect Eguana (EGTYF) short-term liquidity?

The amendment provides immediate additional runway through April 30, 2026, easing near-term pressure. According to the company, it buys time while management and ITOCHU negotiate a longer-term balance sheet solution targeted for Q2 2026.

What commercial progress did Eguana (EGTYF) report alongside the debenture amendment?

Eguana reported feeder improvements in Western Canada, a demonstration agreement with an Alberta distributor, a Shadow Power partnership, and successful final testing for a Northern California VPP. According to the company, these developments support scaled deployment and 2026 positioning.

When does Eguana (EGTYF) expect to finalize a long-term solution with ITOCHU?

Eguana expects to finalize a long-term solution within the second quarter of 2026. According to the company, ongoing discussions are active and the parties anticipate agreement that will have favorable balance sheet implications.

Will the April 30, 2026 amendment include interest for the ITOCHU debenture?

Yes, the amendment includes all accrued interest consistent with prior extensions. According to the company, the amendment mirrors previous terms while the partners work toward a longer-term arrangement in Q2 2026.