H2O Innovation Receives Interim Order and Files Management Information Circular in Connection with Special Meeting of Shareholders - Seite 2

H₂O Innovation’s board of directors (with any conflicted director abstaining from voting on the matter), after receiving legal and financial advice and a unanimous recommendation from a committee of independent directors, unanimously determined that the Arrangement is in the best interests of H₂O Innovation and is fair and reasonable to the Shareholders (other than the Rollover Shareholders) and recommends unanimously, for the reasons set out in the Circular, that Shareholders vote FOR the special resolution approving the Arrangement at the Meeting.

Completion of the Arrangement is subject to the approval by (i) at least 66 2/3% of the votes cast by the Shareholders voting together as a single class, and (ii) a simple majority of the votes cast by the Shareholders voting together as a single class, excluding the votes attached to Shares beneficially owned, or over which control or direction is exercised by, the Rollover Shareholders, in each case, present virtually or represented by proxy at the Meeting, as well as other customary conditions including the issuance of a final order by the Court. It is anticipated that the Arrangement will be completed in the fourth quarter of 2023.

H₂O Innovation has retained Kingsdale Advisors to act as proxy solicitation agent and to respond to inquiries from Shareholders. If you have any questions about the information contained in the Circular or need assistance voting or completing your form of proxy or voting information form, please contact Kingsdale Advisors either (i) by email at [e-mail] or (ii) by telephone at 1-866-581-1489 (toll-free in North America) or [phone] (text or call outside North America).

Cautionary Note and Forward-Looking Statements
The Corporation’s oral and written public communications may include forward-looking statements. These statements are included in this press release, the Circular and may be included in other filings or communications from the Corporation. The forward-looking statements are made pursuant to the applicable securities legislation. Forward-looking statements may include, but are not limited to, statements and comments with respect to the holding of the Meeting, the anticipated timing and the various steps to be completed in connection with the Arrangement, including receipt of Shareholder and Court approvals, and the anticipated timing of closing of the Arrangement. Forward-looking information also relates to, among other things, the Corporation’s strategies to achieve its objectives, as well as information with respect to management’s beliefs, plans, expectations, anticipations, estimations and intentions, and may also include other statements that are predictive in nature, or that depend upon or refer to future events or conditions. The management of H₂O Innovation would like to point out that forward-looking statements involve a number of uncertainties, known and unknown risks and other factors which may cause the actual results, performance or achievements of the Corporation to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. In preparing its outlook, the Corporation made assumptions that do not consider extraordinary events or circumstances beyond its control. When used in this press release, words such as “anticipate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “intend”, “may”, “objective”, “outlook”, “plan”, “predict”, “project”, “should”, “will”, “would” or the negative or comparable terminology as well as terms usually used in the future and the conditional are generally intended to identify forward-looking statements, although not all forward-looking statements include such words.