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

Electrovaya Inc.
Amazon.com, Inc.

Electrovaya Inc.

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Amazon.com, Inc.

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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.

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