Windows 95 doesn't ship with an EGA driver, however it is able to use an EGA driver from Windows 3.1, similarly to how Windows 3.1 could use a CGA driver from Windows 3.0.
A good question is whether Win 95 can use the CGA driver from Win 3.0 (which was the last version to provide one). Running Windows on a 640x200 resolution MONO has always been painful, and one can expect Win95 to be close to impossible to operate. That is, assuming that you can manage to load the CGA driver: however, Win95 RTM stoichally resists all attempts of being used with a CGA driver, showing an error message and defaulting to VGA.
Today, I found myself wondering whether the same happened with beta versions of Chicago. The oldest beta I could install is build 189 (the previous ones complain about media corruption when I try to install them, I wonder why). The result has been surprising: that beta DOES run at this resolution, albeit with all sorts of glitches (including an unavailable Start menu, no DOS prompt, several dialog boxes reduced to a width of a few pixels).
Here's what it looks like:
