Eguana Announces the Appointment of New Board Members

Eguana Technologies Inc. ("Eguana" or the "Company") (TSX-V: EGT, OTCQB: EGTYF) is pleased to announce the appointment of two new members to its Board of Directors (the “Board”), Ms. Karen Hayward and Mr. Graeme Stening, effective immediately. Concurrent with these appointments, Mr. Gregory Nelson will retire from the Board, after having served the Company for more than 13 years. As a result, the Board now consists of a total of six directors. Mr. Stening and Ms. Hayward will serve as directors for a term expiring at the Company’s upcoming 2020 annual general and special meeting of shareholders where they will stand for election by shareholders.

Karen Hayward, a Canadian national, is an author, international speaker and a Managing Partner and CMO with Chief Outsiders, where she is responsible for building and supporting a team of world-class marketers. Located in the San Francisco Bay Area, Ms. Hayward matches mid-market CEOs and Private Equity Portfolio managers with the best-fit Chief Marketing Officers to help accelerate top line growth. Her book, “Stop Random Acts of Marketing”, takes the learnings from her previous experience as a Vice President in both Sales and Marketing with focus on building strategic growth plans in the digital age to deliver compelling ROI.

Graeme Stening, a British national, is Managing Partner of DH Private Equity Partners (“DH”), the group that owns the Company’s largest shareholder, DHCT II Luxembourg Sarl (“DHCT”). Mr. Stening joined DH in 1999 as General Counsel and became Managing Partner in 2015. He is part of the senior management team of the firm and serves on the Investment Committee of all the current DH funds. Mr. Stening replaces George Powlick as DHCT’s appointed director. Mr. Powlick, who left DH in March after 21 years, will remain as an independent director and Chairman of the Board.

“On behalf of the entire Company, I would like to welcome Karen and Graeme to Eguana’s Board of Directors. Their backgrounds will be important to the business as Eguana pursues its goals to become a market leader in residential and commercial energy storage markets around the world,” said George W. Powlick. “I would also like to thank Greg Nelson for his dedicated service to Eguana, which included a period as part of the management team. His contributions were invaluable.”

“Karen brings a wealth of knowledge and experience in sales planning and marketing which will add tremendous value at the Board level as we continue to execute our growth strategy. Graeme brings a host of international experience and shows the continued support of DH, which has been invaluable to the Company for many years,” added CEO Justin Holland. “We would also like to thank Greg who played a key role in the commercialization of our platform as well being a key contributor to strategic planning.”

About Eguana Technologies Inc.

Based in Calgary, Alberta Canada, Eguana Technologies (EGT: TSX.V) (OTCQB: 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 and North America and Australia.

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.

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

Company InquiriesJustin HollandCEO, Eguana Technologies Inc. [e-mail]

Forward Looking StatementsThis news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company’s future financial and business plans and the expected effects thereof. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the TSX Venture Exchange may not approve of the appointment of Mr. Stening and Ms. Haywood; the results of business operation; the ability of the Company to acquire further customers; the uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company’s operations and economic activity in general and those risk factors outlined in the Prospectus and in the Company's management’s discussion and analysis as filed on SEDAR. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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