Westport Fuel Systems receives MCTO

Mr. Dan Sceli reports WESTPORT ANNOUNCES ISSUANCE OF MANAGEMENT CEASE TRADE ORDER The British Columbia Securities Commission, Westport Fuel Systems Inc.'s principal regulator, has issued a temporary management cease trade order (MCTO) against the company under National Policy 12-203, Management Cease Trade Orders. The MCTO restricts trading in the company's securities by the chief executive officer and chief financial officer but does not restrict trading by other shareholders or investors. "On March 20, 2026, we announced that we had recently identified unauthorized access to certain internal systems and acted immediately to contain the incident, engaging cybersecurity experts and strengthening our safeguards," said Dan Sceli, chief executive officer of Westport. "Importantly, our core operations remain unaffected, with no disruption to manufacturing or customer delivery. As we complete a thorough review to ensure the integrity of our financial reporting, we remain focused on transparency. Notwithstanding this incident, we continue to execute on our strategic priorities and build on the progress achieved over the past year." The company voluntarily applied for the MCTO in connection with the company's delayed filing of its: (i) audited consolidated financial statements for the fiscal year ended Dec. 31, 2025; (ii) management discussion and analysis relating to the annual financial statements, (iii) CEO and CFO certificates relating to the annual financial statements; and (iv) annual information form on Form 20-F as a result of the cybersecurity incident previously announced by the company on March 20, 2026. The annual filings were required to be filed by March 31, 2026, under Canadian securities laws. In advance of filing the company's annual documents, Westport is working closely with its auditor to: (i) assess and determine the scope of the cybersecurity incident with respect to the documents and data relevant to the annual documents; (ii) determine whether the company's internal controls over financial reporting were deficient in connection with the incident; (iii) if so, determine whether such deficiency requires a change to the scope of the auditor's audit procedures in respect of the audited annual financial statements; and (iv) complete any additional required audit activity and any revisions to the annual documents, if required. Westport plans to file the required disclosure as promptly as possible. Westport will follow the alternative information guidelines under NP 12-203 and will provide biweekly status updates regarding the delayed filings by way of news release until the annual filings are filed. About Westport Fuel Systems Inc. Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. As a leading supplier of affordable, alternative fuel, low-emissions transportation technologies, Westport designs, manufactures and supplies advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions. Westport's proven technologies support a wide range of clean fuels -- including natural gas, renewable natural gas and hydrogen -- empowering OEMs (original equipment manufacturers) and commercial transportation industries to meet performance demands, regulatory requirements and climate targets in a cost-effective way. With decades of expertise and a commitment to engineering excellence, Westport is helping its partners achieve sustainability goals -- without compromising performance or cost-efficiency -- making clean, scalable transport solutions a reality. Westport is headquartered in Vancouver, Canada. We seek Safe Harbor.