Westport Provides Bi-Weekly Management Cease Trade Order Status Update

Westport Fuel Systems Inc. has issued a bi-weekly management cease trade order (MCTO) status report in accordance with National Policy 12-203 (NP 12-203).

On April 1, 2026, the company announced that, at its request, the British Columbia Securities Commission issued a temporary MCTO under NP 12-203 related to the delayed filing of its audited consolidated financial statements for the fiscal year ended December 31, 2025, along with related management’s discussion and analysis, CEO and CFO certificates, and its annual information form on Form 20-F. All of the annual filings were originally required to be filed by March 31, 2026. The delay was attributed to a cybersecurity incident previously announced on March 20, 2026.

Scope and effect of the MCTO

The MCTO restricts trading in Westport’s securities by the company’s CEO and CFO, but it does not restrict trading by other shareholders or investors.

Bi-weekly reporting and current progress

Under NP 12-203, Westport must file bi-weekly default status reports by way of news releases during the period of the MCTO. The company states that the investigation of the cybersecurity incident has concluded and included a review of internal controls over financial reporting.

Management concluded that Westport’s internal controls over financial reporting were not deficient in connection with the incident. The company also says a revised scope of audit activity related to the annual filings has been defined and is now underway, and it plans to issue the annual filings as soon as possible.

Updates since the April 1 announcement

Westport confirms that, since the date of its announcement:

• There has been no material change to the information previously disclosed that would reasonably be expected to be material to an investor.
• The company is satisfying, and intends to continue satisfying, the alternative information guidelines under NP 12-203 by providing bi-weekly status updates by news release until the annual filings are completed.
• The company does not anticipate any subsequent specified defaults under NP 12-203.
• There is no material information concerning the company’s affairs that has not been generally disclosed.

About Westport

Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. It designs, manufactures, and supplies advanced components and systems for alternative fuel, low-emissions transportation technologies, supporting clean fuels including natural gas, renewable natural gas, and hydrogen for OEMs and commercial transportation industries.

Westport is headquartered in Vancouver, Canada.

Forward-looking statements

The company notes that the report includes forward-looking statements regarding the ability to complete and file the annual filings and the timing of those filings, the terms of the MCTO, audit activity, expectations regarding subsequent specified defaults, and compliance with NP 12-203 reporting requirements. Westport states these statements involve risks and uncertainties and are based on management’s assumptions, which could cause actual results to differ materially.

Westport also states that it disclaims any obligation to publicly update or revise forward-looking statements except as required by National Instrument 51-102.

Contact: Westport Investor Relations, T: +1 604-718-2046