Electrovaya, Inc.

Quarterly Revenue of $18M up 20%YoY; Adjusted EBITDA¹ of 2.8$M, up 41% YoY, and Net Profit of $1M ($0.02/share)

New product family that will power "Walkie Pallet Jack" Class III Material Handling Vehicles will be on display at MODEX 2026

Project to demonstrate advanced battery system for data center applications, enhancing grid resilience and enabling efficient peak demand management

Likely the first Company to achieve this level of certification for high voltage vehicular battery systems in its target segment, further strengthening its leadership in heavy-duty, mission critical applications

Quarterly Revenue of $15.5M up 39% YoY; Adjusted EBITDA¹ of $2M, up 265% YoY, and Net Profit of $1M ($0.02/share)

Strong Progress with the development of ultra-high rate charging cell and system technology along with other product development activities

Reaffirms Fiscal 2026 Revenue Guidance Exceeding $83M

First Profitable Year Achieved with Record Revenue of $63.8M up 43% YoY; Adjusted EBITDA ¹ of $8.8M, Up 115% YoY, and Net Profit of $3.3M ($0.09/share)

Strengthened Balance Sheet Through Strong Operational Performance, Equity Issuances and Expanded Financial Flexibility via new $25M BMO and $51M EXIM Facilities

New Product Launches in Robotics, GSE and Energy Storage; Jamestown Manufacturing Buildout Advancing; Commercial Shipments Expanding

Updates regarding Continued EXIM Direct Loan Drawdowns, Insider Open Market Stock Purchases, Proceeds of Recent Equity Raise

BASE SHELF PROSPECTUS IS ACCESSIBLE, AND FINAL PROSPECTUS SUPPLEMENT WILL BE ACCESSIBLE WITHIN TWO BUSINESS DAYS, ON SEDAR+ AND ON EDGAR

BASE SHELF PROSPECTUSES ARE ACCESSIBLE, AND PROSPECTUS SUPPLEMENTS WILL BE ACCESSIBLE WITHIN TWO BUSINESS DAYS, ON SEDAR+ AND ON EDGAR

Electrovaya's 3 year growth percentage of 383%, ranking 3rd in the Enterprise-Industry Leaders category that is limited to enterprise-level companies with a minimum of C$50 million in revenue

Preliminary unaudited results indicate record quarterly and annual revenue, beating internal guidance by over 5% and representing approximately 43% annual growth

Deliveries in the quarter included core material handling battery system products in addition to initial deliveries of robotic battery products

Energy Storage Systems will be based on Electrovaya's proven technology and includes cells, modules and packs manufactured in the USA, enabling strong ITC Incentives

Initial systems offer over 2MWh of storage capacity in a 20' containerized format with leading cycle life and featuring Electrovaya's proprietary safety technologies

New product will target a wide variety of energy storage applications with strong initial interest from existing high profile customer base

Modules utilize a new 51Ah cell format both of which received UN38.8 certification

Further demand for the new battery module expected in the Japanese market for other OEM opportunities with sales through Sumitomo Corporation Power and Mobility

Further strengthens the Company's leadership position in the market for industrial and heavy-duty vehicles

Revenue increased 67% y/y to $17.1M with Positive Adjusted EBITDA¹ for Ninth Consecutive Quarter

Adjusted EBITDA¹ increased 387% y/y to $2.9M or 17% of revenue

Net Profit for the quarter of $0.9M and EPS of $0.02

Reaffirms Fiscal 2025 Revenue Guidance Exceeding $60M, Driven by Strong Order Pipeline

Multiple battery system products launched for airport ground support equipment platforms for a a major USA based OEM supplier

Electrovaya to showcase its new products at the International GSE Expo being held in Las Vegas, NV through September 16-18, 2025

Multiple battery system products launched for new robotic vehicle platforms for three distinct OEM customers with applications ranging from material handling to surveillance systems

Part of a major product development effort to target the rapidly growing robotics segment, leveraging the Company's technology advantages around battery safety and longevity

Additional order drives cumulative demand to over $20 million in fiscal 2025 from this global leading customer

Continued demand expected for additional sites in the calendar year 2025 from this customer

Latest battery systems feature enhanced performance and include 54Ah ceramic cell to be mass produced in Jamestown, NY

Passed the most stringent safety testing in the industry, including fire propagation testing

Further strengthens the Company's leadership position in the market for industrial and heavy duty vehicles

Represents Electrovaya's foray into a new mission critical sector of heavy duty Class 8 trucks for the Australian and US markets

This purchase order is a follow on from other orders received during the fiscal year from the same end customer with a cumulative total over $16 million

Further demands for additional sites expected later in the year

Revenue increased 40% y/y to $15.0M with Positive Adjusted EBITDA¹ for Eighth Consecutive Quarter

Adjusted EBITDA¹ of $2.0M or 13% of revenue

Net Profit for the quarter of $0.8M and EPS of $0.02

Reaffirms Fiscal 2025 Revenue Guidance Exceeding $60M, Driven by Strong Order Pipeline

Key Milestone as part of Electrovaya's Manufacturing Investment in Jamestown, New York

Electrovaya's Latest Battery Modules and Battery Systems that will be Manufactured in the USA will be on display at the ACT EXPO from April 28-30th at the Anaheim Convention Center

2012 Time Magazine: 100 most Influential People in the World

Electrovaya's CEO to Discuss Strengthening Domestic Manufacturing at the Annual Conference of Export-Import Bank of the United States(EXIM) in Washington DC

This purchase order, valued at $8.7 million, is a follow on from a December $4.1 million order, represents the continuation of the customer's fleet conversion strategy with potential further sites planned later in the year

This purchase order is a follow on from a November 2024 $3.5 million order

Further demands for additional sites expected later in the year

Three year term includes an accordion of US$5.0 million expansion option to fuel future growth

Lower-cost facility replaces existing debt, reducing servicing costs

Supports operations in both the United States and Canada and enables financing from the United States Export-Import Bank ("EXIM") for Jamestown manufacturing investments

Funding Under EXIM‘s Make More in America Initiative to Fuel Expansion of Electrovaya's Jamestown Battery Manufacturing Facility

Combination of EXIM Funding with $20 million BMO Credit Facility and $12 Million Equity Capital from December 2024 Provides Electrovaya with Over $80 million for Aggressive U.S. Expansion

Electrovaya has Met Substantially All Condition Precedent Requirements to Drawdown on the EXIM Facility

Orders placed through Sumitomo Corporation Power & Mobility for high-voltage battery systems to be used by a Major Japanese Headquartered OEM's Vehicle Project

Repeat order represents over $13 million in purchases by this end user with further plans to add incremental batteries to their existing facilities as well as batteries for new construction sites

The Initial Assembly of Battery Systems is Part of a Larger Planned Investment in Jamestown, New York.

Revenue of $11.2M and Positive Adjusted EBITDA for Seventh Consecutive Quarter

Strengthened Balance Sheet and improved financial position

Significant Progress in Closing EXIM and Bank Financing to support US Manufacturing Expansion and Overall Growth Plans

Reaffirms Fiscal 2025 Revenue Guidance Exceeding $60M, Driven by Strong Order Pipeline