Agreement enables utilities to extend the life of existing ERT infrastructure
while transitioning to a data-centric grid modernization platform

Burnaby, B.C. – March 4, 2026 ––  Tantalus Systems (TSX: GRID; OTCQX: TGMPF) (“Tantalus” or the “Company”), a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, today announced that it has extended its license agreement with Itron, Inc. (“Itron®”) to support full Encoder Receiver Transmitter (“ERT®”) compatibility across the TRUConnect™ AMI Platform, part of the Tantalus Grid Modernization Platform™ (TGMP™).

With the extension of the license agreement with Itron, Tantalus will continue to have the right to read Itron communications technologies used in early automated meter reading (AMR) systems and legacy AMI deployments, including Advanced SCM+ messaging and Enhanced Fixed Network functionality such as Network Interval Messaging (NIM). Being able to deliver these messages enables utilities to transition from basic mobile meter reading to Tantalus’ modern, data-centric TRUConnect AMI platform while extending the life of their existing ERT investments.

With more than 80 million ERT devices deployed across electric, water and gas utilities over the past three decades, ERT technology represents one of the most widely adopted metering architectures in North America. For many public power utilities and electric cooperatives, these devices remain foundational for daily operations. However, as expectations for grid visibility, data granularity and operational intelligence continue to increase, utilities face mounting pressure to modernize without stranding capital-intensive infrastructure investments.

The extended license agreement directly addresses this industry challenge. Through this agreement, Tantalus is the only solution provider expressly licensed to read and deliver the complete ERT messaging structure across a purpose-built AMI platform engineered to support advanced two-way data logging capabilities. Accessing the full functionality of their ERT endpoints through TRUConnect AMI, as permitted under the license agreement, allows utilities to maintain Itron warranties and preserve long-term asset value.

The inclusion of the NIM messages allows utilities to receive hourly aligned interval readings and tamper notifications from Itron 100 Series-enabled water and gas meters across a fixed network. Using Tantalus’ TRUScan™ solution, these readings can be collected automatically rather than relying on periodic drive-by or mobile data collection. This shift from mobile to fixed network data acquisition enhances system visibility, strengthens operational awareness and enables more consistent access to interval data for billing, demand calculations and time-of-use programs.

Advanced SCM+ messaging further expands access to advanced features across Itron water, gas and electric meters, positioning utilities to leverage enhanced consumption analysis, customer presentment and distribution optimization capabilities such as loss and leak detection. Tantalus’ full integration with Itron’s Field Collection System (FCS) enables seamless import of ERT reads from both mobile and fixed networks into utility billing systems, dramatically reducing integration risk and lowering deployment costs.

This capability is underpinned by Tantalus’ advanced technology stack, including proprietary communications silicon, firmware and protocol-processing technologies designed specifically to support the scale, timing and message complexity of ERT-based fixed network deployments. These platform investments enable reliable, high-performance decoding and delivery of the complete ERT message forming the unique technical foundation that makes full compatibility possible.

“Extending this license agreement reflects the shared commitment between Tantalus and Itron to support utilities’ evolving needs for interoperability, efficiency and financial flexibility,” said Peter Londa, President and CEO of Tantalus. “Across North America, utilities are navigating how to modernize aging infrastructure while managing cost constraints and changing expectations from customers, state officials and regulators. By accessing the complete ERT message across Tantalus’ TRUConnect AMI offering, we are helping utilities unlock greater operational intelligence at lower risk and lower overall cost with a data-centric approach to AMI.”

The licensed technology supports a broad range of Itron devices, including 60, 100, R300, R400 and 500 Series electric, water and gas ERTs, Bridge Meters and Intelis gas meters. By combining this licensed compatibility with the TRUConnect Industrial IoT smart grid network, as well as Tantalus’ purpose-built endpoint communications and protocol-processing technologies, Tantalus provides utilities with a secure, scalable platform that supports two-way communications and advanced grid operations within a modern, data-focused architecture.

As utilities across the industry increasingly prioritize data-driven decision-making and grid resilience, the ability to integrate legacy metering assets into a scalable AMI platform has become a critical component of modernization strategy. The extended agreement between Tantalus and Itron reinforces a pragmatic, capital-efficient pathway forward that aligns interoperability, operational performance and financial stewardship in support of long-term grid transformation.

About Tantalus Systems Holding Inc. (TSX: GRID; OTCQX: TGMPF)

Tantalus is a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data across all their devices and systems deployed throughout the entire distribution grid. We offer a grid modernization platform across multiple levels: intelligent connected devices, communications networks, data management, enterprise applications and analytics. Our solutions provide utilities with the flexibility they need to get the most value from existing infrastructure investments while leveraging advanced capabilities to plan for future requirements. All our technology is grounded in a data-centric approach that is designed to help utilities find the most cost-effective path to grid modernization with the least risk. Ultimately, we deliver Unified Intelligence to utilities of all kinds, so they can leverage data and insights across their entire grid, no matter what devices, systems or vendors they choose to work with. Learn more at http://www.tantalus.com/

TRUConnect, Tantalus Grid Modernization Platform, TGMP and TRUScan are trademarks of Tantalus Systems Corp. All third-party trademarks are the property of their respective owners, and any usage herein does not suggest or imply any relationship between Tantalus and the third party unless expressly stated.

Forward Looking Statement:

This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the performance, capabilities, effectiveness and adoption of the Company’s solutions, especially as it relates to leveraging existing ERT devices through the TRUConnect AMI offering, how the benefits for utilities arising from the rights licenses by the Company from Itron support the modernization strategy for those utilities, and other statements that contain words such as “believe,” “expect,” “project,” “should,” “seek,” “anticipate,” “will,” “intend,” “positioned,” “risk,” “plan,” “may,” “estimate” or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release and Tantalus disclaims any intention or obligation to update or revise any forward-looking information contained in this new release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this news release is expressly qualified in its entirety by this cautionary statement.

Contact Tantalus:
Jacquie Hudson
Marketing Communications Manager
613-552-4244 | jhudson@tantalus.com

Website: www.tantalus.com

LinkedIn: LinkedIn/company/tantalus