UGE Announces New Chief Operating Officer, Board Appointment, and Key Leadership Hires

Toronto, Ontario--(Newsfile Corp. - August 2, 2023) - UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the "Company" or "UGE"), a leader in commercial and community solar, announces the appointment of its new Chief Operating Officer, member of the Board of Directors, and other key hires.

Brandon McNeil Joins as Chief Operating Officer

Brandon McNeil has joined UGE as the Company's Chief Operating Officer, overseeing UGE's corporate operations. Brandon brings over 18 years of energy transition experience and is a dedicated team builder and cultural architect.

Prior to joining UGE, Brandon served as the Vice President of Energy and Insights at Lightning eMotors, a leading commercial electric vehicle manufacturer. Brandon's team focused on building a full fleet electrification package, simplifying the process for fleets looking to electrify at scale. Brandon also served as the Executive Director of Operations in his time at Lightning eMotors, building out the company's operations, supply chain, and customer service organizations. Before joining Lightning, Brandon served as Executive Vice President of Manufacturing and Operations for Ice Energy, a distributed energy storage company.

We would like to thank Trevor Weed, who had previously been serving as UGE's COO, for his numerous contributions and wish him all the best in his new endeavors.

Scot Melland Appointed to Board of Directors

Scot Melland has been appointed to UGE's Board of Directors. Scot has over 30 years of experience investing in, growing, and operating technology companies in HR software, ecommerce, and digital media. Scot is the former Chairman & CEO of DHI Group (NYSE:DHX), a global online recruiting firm, where he led the company through a successful turnaround, public offering, and global expansion. He was Co-Founder & CEO of Vcommerce, an early ecommerce software company and has held executive positions at Cendant (CxLoyalty) and Ameritech (AT&T). Scot began his career as a management consultant with McKinsey & Company. He currently is on the Board of BlueGrace Logistics and the Advisory Board of Stepstone GmbH. Scot holds a BS in Economics with High Honors from the University of Pennsylvania and an MBA from the Harvard Business School. Scot will occupy the seat previously held by Steve Markscheid, who served on UGE's Board from August 2021 to July, 2023. We thank Steve for his years of dedication and service to the Company.

Leadership Strengthened in Key Business Areas

In addition to the Company's new COO, UGE made three additional key hires in recent months, adding to the leadership capacity needed to bring its increasing project backlog to fruition as operating assets. The three department heads who recently joined UGE are Oceana Lamberto-Egan, Managing Director of Engineering; Kristin Lundquist, Director of Projects; and Annalise Reichert, Senior Manager of Project Development. All three have already made positive impacts on the cohesion and efficiency of their respective teams and have demonstrated the significant value they each bring to UGE's operation as a whole.

Green Bond Oversubscribed

UGE is also pleased to announce that its overnight marketed green bond, announced July 31, 2023, has been oversubscribed. The Company anticipates closing the offering within August, 2023.

About UGE

UGE develops, owns, and operates commercial and community solar and battery storage projects. Our distributed energy solutions deliver cheaper, cleaner energy to businesses and consumers with no upfront cost. With over 500MW of global experience, we work daily to power a more sustainable world. Visit us at www.ugei.com. For more information, contact UGE:

Nick Blitterswyk - investors@ugei.com or +1 917 720 5685.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include, but are not limited to, the anticipated use of proceeds, and the listing of the Green Debentures on the TSX Venture Exchange. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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