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Shareholder Update (February 22, 2023)

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This Shareholder Update covers CGE's annual shareholder meeting scheduled for March 3, 2023 and CGE's ceasing to support the OTC Pink market.

Letter from CGE Energy President Bryan Zaplitny

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To the shareholders of CGE Energy and the greater energy-efficient community,

Our day-to-day operations have been going strong. We are gaining new projects and have completed a dozen energy projects since my last update. Our lighting services division has seen notable growth during the first quarter of 2015 as services such as RAMP continue to be of particular interest to new customers.

Last month, we had our inaugural CGE Energy Board of Directors meetings since our merger with McKenzie Bay International. These were held over the two-day period of April 16 and 17 in northern Michigan. The meetings were convened to appoint officers and discuss forthcoming company projects.

Gary Westerholm, CGE Energy Vice President of Finance, was elected board chairman. Paul Schneider, CGE Energy Vice President of Marketing, was elected secretary of the board, and Mark Cecil was elected treasurer. Each appointment was made by a unanimous vote, showing the cohesive atmosphere we share in here at CGE Energy. Existing directors present were Derek Spangler, William Naubert, Mike Pollakowski, Craig Hancock, Kevin Cook, and myself.

Having addressed all the necessary odds and ends that come with a merger, we are enthusiastic about what lies ahead. Our future is completely in our control. Wise and prudent decisions have gotten us where we are, and we as an organization have completed everything that we have set out to do on this journey thus far.

I take the responsibilities that rest with me very seriously. Our focus on our vision and our concern for our shareholders and our organization—especially its future and its growth, have led us well, and I have chosen to invest our capital in areas that continue to promote our vision and goals. Thank you, everyone, again for your longtime support. At the risk of sounding a bit cliché, the future is very bright.

Sincerely,

Bryan Zaplitny

Certain statements made in this press release constitute forward-looking statements and do not guarantee future performance. Actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based solely on the estimates and opinions of management at the time the statements are made.