Enterprise Group changes name to Evolution PowerX

St. Albert, Alberta--(Newsfile Corp. - August 4, 2026) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the " Company " or " Enterprise "), a consolidator of specialized equipment and services to the energy, resource, and industrial sectors, with a growing focus on natural gas-powered power generation solutions, is pleased to announce that it has changed its name to "Evolution PowerX Corp." (the "Name Change"). The Name Change was approved at the annual and special meeting of shareholders held on June 25, 2026.

It is anticipated that the Company's common shares will commence trading on the TSX under the new name, Evolution PowerX Corp. effective as of the open of markets on August 5, 2026. The common shares will continue to trade under the existing trading symbol "E" on TSX.

The proposed corporate name change to Evolution PowerX Corp. reflects the Company's ongoing strategic evolution and the changing composition of its business. In recent years, Enterprise has steadily expanded beyond its traditional energy services foundation, building a comprehensive power solutions platform to service customers across the energy, industrial, commercial, and emerging infrastructure sectors. Driven by increasing demand for reliable, low-emission distributed power generation, the Company's power division is expected to contribute more than half of consolidated revenue during the current fiscal year while continuing to grow at a rate that exceeds its legacy site infrastructure business. The proposed name more accurately represents the Company's business today and its long-term strategic direction.

Management believes the Evolution PowerX identity will provide greater clarity to customers, partners, and the investment community by directly reflecting the Company's focus on delivering innovative power generation solutions. As the Company continues to expand its portfolio of mobile, semi-permanent, and permanent power systems, the new corporate identity is intended to better align Enterprise's market positioning with its operating business and strategic growth objectives. The Company also believes the change will facilitate a market classification that more accurately reflects its evolving business model and enable investors to evaluate Evolution PowerX alongside a broader group of distributed power and power solutions companies whose operating characteristics more closely resemble those of the Company today.

The CUSIP number assigned to the Company's common shares following the Name Change is 30055E100 (ISIN: CA30055E1007).

The Name Change does not affect the rights of the Company's shareholders. There is no consolidation or division of capital associated with the Name Change. Shareholders will not be required to take any action in connection with the Name Change. Issued certificates or direct registration statements representing common shares will not be affected by the Name Change and will not need to be exchanged. The Company encourages shareholders to contact their broker with any questions regarding the Name Change.

About Enterprise Group, Inc.

Enterprise Group, Inc is a consolidator of services, including specialized natural gas power generation equipment to the energy/resource and industrial sectors. The Company works with particular emphasis on systems and technologies that mitigate, reduce, or eliminate CO2, Greenhouse Gas (GHG) and other harmful emissions for itself and its clients. The Company is well known to local Tier One and international resource companies with operations in Western Canada. More information is available on the Company's website www.evolutionpowerx.com . Corporate filings can be found on www.sedarplus.ca . For questions or additional information, please contact:

For questions or additional information, please contact:

Leonard Jaroszuk, CEO & Chairman, or Desmond O'Kell, President & Director 780-418-4400 contact@evolutionpowerx.com

Forward Looking Information

Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements in this news release includes, without limitation, the Company's formal name change and anticipated benefits of the name change; expectations relating to revenue growth from the Company's power division; the potential benefits and anticipated demand for the Company's distributed power solutions and corporate development opportunities available to the Company. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR+ website www.sedarplus.ca ) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307724

Newsfile Corp.

August 4, 2026 - 4:30 AM PDT

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