Press Release

Edison Motors Provides Positive Financing Update

March 17, 2026 Donald, British Columbia

Donald, British Columbia, March 17, 2026 - Edison Motors Ltd. (“Edison” or the “Company”) is pleased to announce that it has filed an updated offering memorandum dated March 13, 2026 (the “Updated OM”) in connection with its ongoing non-brokered private placement financing (the “Offering”). The Updated OM amends and updates the Company’s original offering memorandum dated August 15, 2025, which marked the launch of the offering memorandum portion of the Offering (the “OM Offering”).

Edison is also pleased to announce that, to date, the Company has raised approximately CAD $12 million under the Offering, which represents the Company’s broader financing initiative launched in 2025, of which the OM Offering forms a part. The Offering consists of up to 363,637 common shares of the Company (“Common Shares”) at a subscription price of CAD $55 per share (USD $40 per share), for aggregate gross proceeds of up to CAD $20 million.

The OM Offering is being conducted through an online investment platform operated by FrontFundr Financial Services Inc. (“FrontFundr”). The Updated OM is available online through the Company’s dedicated offering page on the FrontFundr platform at www.frontfundr.com/edisonmotors. With the Updated OM now available on FrontFundr, eligible investors are once again able to participate in the OM Offering through the platform. The OM Offering is intended to allow non-accredited investors in Canada to participate in the Offering and to subscribe for Common Shares, in accordance with applicable securities laws. Investors interested in participating in the OM Offering should carefully review the Updated OM in its entirety, as it contains important information regarding, among other things, the Company and its business, the OM Offering, the anticipated use of proceeds, and the risk factors relating to an investment in the Company.

The Company intends to use net proceeds from the Offering to (i) construct the necessary production facilities in Donald B.C. in order to build and commission additional vehicles, including prototypes and eventual commercial orders, and (ii) increase its general working capital. The Company’s objective is to bring Class 8, Heavy Duty, Speciality Service Vehicles and Class 5 Chassis into production in 2026 using Electric, Hybrid Electric & Diesel propulsion. The Company is currently working on its property facilities which includes a 30,000sqft production facility and off-road test track. Further details regarding the proposed use of proceeds and the Company’s business objectives are set out in the Updated OM.

Compensation will be paid in respect of the Offering to FrontFundr in its capacity as selling agent, as more particularly described in the OM. No other commissions or agent fees are expected to be paid as part of the Offering.

The OM Offering is only open to Canadian investors, who need not be accredited investors, and is being made in reliance on applicable Canadian prospectus exemptions. The Company may also accept subscriptions under other available exemptions, including from Canadian accredited investors under National Instrument 45-106, accredited investors in the United States pursuant to Rule 506(c) of Regulation D under the United States Securities Act of 1933, as amended, and investors in other international jurisdictions in accordance with applicable local laws.

The Company is not a reporting issuer in any province or territory in Canada and its securities are not listed on any stock exchange in Canada and there is currently no public market for its securities to be resold. As such, the common shares will be subject to a hold period pursuant to applicable statutory exemptions, until the date that is four months and one day, after the date the Company becomes a Reporting Issuer in any province or territory of Canada (subject to any control person distribution restrictions) in accordance with National Instrument 45-102 – Resale of Securities.

Readers can find additional information about the Company on our website https://www.edisonmotors.ca/investing. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful, including in the United States of America.

About Edison Motors

Edison Motors Ltd., is a Canadian based company focused on the development and commercialization of Heavy Duty trucks and conversion kits powered by electric and electric-hybrid propulsion. In 2024, the Company successfully licensed and tested its Class 8 production prototype “Topsy”, on Canadian public roads. In 2023, Edison built North America’s first EV Plug-in Hybrid semi truck fully assembled in British Columbia, Canada.

For further information, visit edisonmotors.ca.

Cautionary Statement: This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance including in respect of the size and use of proceeds of the Offering, the timing and ability of the Company to close the Offering, if at all, the Company carrying out a private placement under the OM exemption, the payment of any commissions or agent fees in connection with the Offering, and the potential for the development and commercialization of Class 8, speciality service, electric, electric-hybrid, diesel, commercial vehicles and electric conversion kits for existing light, medium and heavy duty trucks and its objective to bring Electric, Hybrid Electric & Diesel Commercial Vehicles Conversion kits into production in 2026 or later (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company, at the time it was made, including but not limited to, the Company’s ability to successfully complete the Offering on terms favorable to the Company, its ability to obtain necessary regulatory approvals (if any) and to comply with applicable laws, market acceptance of its products, the ability to secure key personnel and resources, and the absence of material adverse changes in economic conditions, laws, or regulations affecting its business operations. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended.

There are numerous risk factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information in this news release. These risks include, but are not limited to, the inability to raise the full amount of the Offering, the Company’s failure to comply with all applicable laws, potential regulatory action, risks related to the Company’s ability to execute its business strategy, changes in market conditions, fluctuations in demand for the Company’s products or services, the availability of financing on acceptable terms, competition, regulatory changes, and other risks inherent in the Company’s industry. In addition, unforeseen events or circumstances could arise that may impact the Company’s operations or financial performance. For a comprehensive discussion of these and other risks, readers are encouraged to review the risk factors set forth in the Updated OM.

The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.