#1Investor Presentation June 2023 EGUANA TSX.V: EGT OTCQB: EGTYF#2DISCLAIMER The information contained in this document has been prepared by Eguana Technologies Inc. (the "Company") and contains information pertaining to the business, operations and assets of the Company. The information contained in this document (a) is provided as at the date hereof and is subject to change without notice, (b) does not purport to contain all the information that may be necessary or desirable to fully and accurately evaluate the Company and (c) is not to be considered as a recommendation by the Company that any person make an investment in the Company. An investment in the securities described herein is speculative and involves a number of risks that should be considered by a prospective investor. This presentation is not, and under no circumstances is to be construed as, a prospectus, or advertisement or a public offering of securities of the Company. Some of the information provided in this presentation constitutes "forward-looking information" within the meaning of applicable securities legislation, which can often be identified by words such as "will", "may", "estimate", "expect", "plan", "project", "intend", "anticipate" and other words indicating that the statements are forward-looking. Specific forward-looking information in this presentation includes statements regarding anticipated financial and operating results, the future of residential and commercial energy storage in the power industry, the potential value of the Company's addressable market, the value of the Company's energy storage inverter, anticipated revenue growth and potential, the anticipated size of the Company's market share, anticipated demand for solar energy and power conversion, anticipated timing and outcome of potential strategic transactions, anticipated product launches, and anticipated annual production capacity. Forward-looking statements reflect the Company's current expectations as to future events and are based on information presently available. Forward-looking statements are not guarantees of the Company's future performance and involve known and unknown risks, uncertainties and assumptions that may cause actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to: risks associated with international operations such as political, economic and other uncertainties; the ability of the Company to raise additional debt or equity on acceptable terms or at all; the effect of capital market conditions and other factors on capital availability; fluctuations in market value for energy storage power conversion; competition, including from more established or better financed competitors; the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers; fluctuations to the market price of the Company's common shares; liquidity risks; and uncertainty with regards to strategic execution and/or transactions. Consequently, no representation can be, or is being, made with respect to accuracy of the projections or the ability of the Company to achieve the projected results. You should not place undue reliance on the forward-looking statements contained in this presentation. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This presentation includes market and industry data which was obtained from various publicly available sources and other sources believed by the Company to be true. Although the Company believes it to be reliable, the Company has not independently verified any of the data from third-party sources referred to in this presentation, or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying assumptions relied upon by such sources. The Company does not make any representation as to the accuracy of such information. 2#3THE ELECTRICITY GRID OF TOMORROW Advanced energy storage, located at the site of consumption alongside on-site renewable generation has long been seen as the key to unlocking investment in grid modernization. Founded in 1999, Eguana is building the electricity grid of tomorrow through its high- performance residential and small commercial energy storage systems networked using its VPP fleet management cloud software. With thousands of deployed proprietary systems, designed and manufactured in North America, Australia and Europe, Eguana is one of the leading suppliers of energy storage systems for solar self-consumption, grid services and backup power at the grid edge. Global Operations Headquartered in Calgary, Alberta, Canada Vertically Integrated Ecosystem Proprietary Software & Electronics Platform Our customers are distributors, installers, utilities, and homeowners#4IN THE MARKET EGUANA POWERING GRID MODERNIZATION SAFE, RELIABLE, RENEWABLE Warrants EGT.V Market Cap (May 30, 2023) ~$70M CAD Shares Outstanding 424M 5M 25M 66M Total Fully Diluted 520M Total Debt ~$13M CAD Vested Options Convertible Debt Key Shareholders**: DHCT @ 17.6%, ITOCHU @ 23.3% Insider Ownership: 4.2% ** on a fully diluted basis at May 30, 2023 (unaudited) Coverage: Cormark Raymond James Stifel 4#5T THE POWER GRID PROBLEM Electricity needs to double in 30 years One way power flow results in poor reliability Requires massive capital deployment to manage Cannot sustain the electric vehicle movement Traditional Grid Distributed Grid (Addresses Problem) +$60Bn North American solar + storage market by 2030 Traditional Grid • • Fossil fuel driven, massive capital requirements +20 year time horizons with no policy support Reactive no demand control means an overbuild on supply Distributed Grid Fully integrated - distributed generation is fast, secure, and reliable Efficiency time shifting supply and demand within a coordinated system Cost Effective - incremental transition avoids disruption and stranded assets New assets work as "fleets" or "aggregated" systems 5#6EGUANA - RIGHT TIME - RIGHT NOW 1 2 THE RIGHT TIME: GLOBAL ELECTRIFICATION • • Policy supported infrastructure play Global markets support EV growth objectives RECURRING REVENUE PLATFORM BUILT TO SCALE Manufacturing, distribution, balance sheet, strategic inventory Hardware & software platform expansion – fully integrated • • - 3 ESTABLISHED TOP TIER PARTNERSHIPS Relationships with Mercedes-Benz, Duracell and Itochu • LG Energy Solution POWER CENTER DURACELL Hawaiian Electric Mercedes-Benz Simplyenergy ATCO Electric ཁ། ITOCHU by eNGie 6#7EGUANA - FULLY INTEGRATED STACK Three Pillar Revenue Stack: Eguana generates revenue from the Cloud (Software), the Wall and the Roof (Hardware) 'MICROINVERTERS 宮 Cloud • • System & Fleet Management Installer Loyalty Grid Services for Recurring Revenue Key to consumer experience 宮 STORAGE • CLOUD • • • Energy Storage (Wall) • • Proprietary Power Controls Virtual Power Plant Ready Advanced Battery Integration Full range of power and capacity Rapid Product Development Cycles Micro Inverters (Roof) Compatible with high power solar modules Widest power range in the market Rapid shutdown and module level monitoring 7#8BUILDING THE INTELLIGENT GRID HARDWARE Equipment Purchase ($) EGUANA Installer sales team System Purchase ($) CLOUD Remote Control SOFTWARE Recurring Grid Services ($) DERMS ΑΡΙ Virtual Power Plant VPP Rebate ($) DERMS Distributed Energy Resource Management System Dispatch Recurring Grid Services ($) + AK 8#9MANUFACTURING & PROCUREMENT Capital Lite Model Rapid Scalability Universal Platform Supply Chain Resilience ༠ག ITOCHU 24m LG Energy Solution PYLONTECH Ampace OMEGA ELECTRONICS MANUFACTURING SERVICES 9#10Distribution MOVING PRODUCT Top 5 National Distributor Partners sonepar VPP Supply Co. inc. CED ABC GREENTECH BayWa r.e. Soligent\ 2,000+ Combined Branch Locations 10,000+ Installers Utility Mass Adoption Recurring Revenue Simplyenergy" yenGie SOUTHERN CALIFORNIA EDISON EDF Energy for What's Ahead" Hawaiian Electric Eguana University Virtual Partner Training Platform +300 installers in process/completed Boots on the ground sales team 10#11оск プブ Jo INSTALLERS: THE KEY TO SALES Installers are the repeat customer Installers drive product to the homeowner CULTIVATING INSTALLER RELATIONSHIPS Eguana University - Installer Loyalty Comprehensive training across design, sales and installation teams Fully integrated with third party work flow tools Expanding brand offerings via white labelling / licensing opportunities 11#12Key Balance Sheet / Cash Flow Items Cdn $ Millions (unaudited) FINANCIAL DATA Sales Growth Q1-22 Q2-22 Q3-22 Q4-22 Q5-22 Q1-23 $12 $10.4 Cash $2.8 $0.9 $1.7 $34.3 $15.0 $10.2 $10 Accounts receivable $3.2 $3.1 $4.8 $6.3 $13.5 $18.9 Inventory $4.7 $4.6 $3.3 $5.1 $7.0 $10.4 Prepaid expenses $0.9 $0.9 $3.5 $6.6 $9.2 $4.3 and deposits Total current $11.7 $9.5 $13.3 $52.3 $44.8 $46.7 Revenue (M) Σ$8 $5.9 $2.3 $2.6 assets $2 $1.3 Working capital $6.6 $4.4 $7.4 $41.2 $33.7 $32.1 $0.3 $- Total long-term debt $0.0 $0.0 $4.9 $11.7 $11.5 $10.9 Cash Flow used in ($2.0) ($1.5) ($6.3) ($5.6) ($18.3) operations • Robust working capital of $32.1 million at March 31, 2023 Q3 Q4 Q5 Q1 '22 '22 '22 '22 '22 123 Quarterly revenue growth in Q5 2022 and Q1 2023. Q1 Q2 ($6.1) Note: Change of Company's year end from Sept 30 to Dec 31, with 5 quarters in fiscal 2022. 12#13EGUANA CATALYSTS & MILESTONES Micro inverter sales EU/AUS 500 Trained installers USA Launch of Duracell Licensed Product Line - 2022 Launch of Enfuse Microinverter - 2022 Strategic Partnership with Itochu Corporation - 2021 Recurring revenue from VPP pilots Utility/VPP engagements Introduced the Evolve LFP, making Eguana the first supplier to offer multiple battery chemistries - 2020 Signed exclusive private label agreement for Enduro in Germany with Hanwha Q Cells - 2019 Major Sales Announcement: Receives $5M Energy Storage Order - May 2023 ☑ Expands License Agreement with Pineapple Energy April 2023 Expanding Global Footprint: Completes Solarlab Acquisition - Feb 2023 Launched Eguana-branded Evolve, Elevate and Enduro fully integrated Energy Storage Systems worldwide 2018 13#14EGUANA INVESTMENT HIGHLIGHTS 1 +$60Bn North American solar + storage market by 2030 and power demand continues to grows 2 Fully commercialized technology platform, validated by major partners, with thousands of systems in field operation 3 Deals with 5 leading North American renewable energy distribution companies, with branded product solutions 4 World class partnerships spanning Finance, Brand, Distribution, and Utility including Itochu, Duracell PowerCenter, Baywa, and Simply Energy 5 Additional white label deals in final stages, for utility and virtual power plant channels 6 Production scale complete with +24,000 systems capacity annually 14#15CEO COO CFO MANAGEMENT Justin Holland is a Senior Operations Executive with expertise in Integrated Business planning and Supply Chain management covering multi-site operations, global supply chain integration and P&L management. Mr. Holland brings +20 years of demonstrated excellence in strategic planning, demand planning and class A manufacturing from the high tech/electronics, food, and pharmaceutical industries including Pepsi Canada, General Mills, Apotex, and Christie Digital. Brent Harris founded Eguana and is an inventor of the Company's core technologies. Mr. Harris first led the commercialization of the Company's products and then its early sales. He is now responsible for Eguana's global operations. Brent graduated from Queens University in Ontario in Applied Science with a focus on power and control systems and began his career as an instrumentation engineer on international midstream oil and gas projects. Hansine Ullberg is a Chartered Professional Accountant and Chartered Accountant, with over 20 years' experience in the energy services, software, mining, and accounting industries. Ms. Ullberg started her career with Ernst & Young LLP and has served in several finance and accounting positions, with global and entrepreneurial companies. Ms. Ullberg has a breadth of experience in financial reporting, operations, compliance and corporate governance. Ms. Ullberg enjoys giving back to the community by volunteering and serving on some not-for-profit boards. CTO General Manager Europe Daljit Ghotra leads Eguana's engineering team and is accountable for Eguana's development program, product designs, and technology strategy. Drawing on nearly 20 years of power system development experience spanning various applications including cellular base stations to PV inverters to energy storage systems Mr. Ghotra applies his strong understanding of power control design topologies, system applications and end user requirements to deliver industry leading distributed energy storage solutions. He holds an MSc. in Electrical Engineering from the University of Saskatchewan. Dr. Andreas Rückemann joined Eguana Technologies from Mercedes Benz Energy in 2018 and is responsible for Eguana's European business through its subsidiary Eguana GmbH. Dr. Rückemann has 25 years of international experience with a focus on sales and establishing long-term partnerships in large corporates as well as SMEs, including companies such as Evonik Industries, Heliatek and Mercedes Benz Energy. General Manager Australia Warren Gray joined Eguana to lead the company's expansion into direct sales of solar and storage systems in the Australian market. Mr. Gray brings a broad and diverse skillset managing similar businesses across Australia in the solar, energy efficiency, and air conditioning markets with vast experience on both the dealer and manufacturer side for Carrier Air Conditioning. Mr. Gray is responsible for scaling Eguana's operations for growth in Australia, including building the company's internal and partner networks nationwide through its subsidiary Eguana Pty Ltd. 15