Reported Earlier, Electrovaya Announces A Commercial Relationship With Amazon To Support Continued Deployment Of Infinity Battery Technology In Exchange For 13,880,345 Warrants To Purchase Electrovaya Common Shares

As part of the agreement, Amazon will receive warrants to purchase up to 13,880,345 common shares of Electrovaya, which become fully vested upon Amazon achieving cumulative future purchases of US$280 million, with a portion of the warrants vesting immediately upon execution of the agreement, and an exercise price based on the 5-day volume weighted average trading price ("VWAP") immediately prior to the date of the agreement.