$x^2=4 \Leftrightarrow x = 2 \lor x=-2$, but $x$ can't be equal to both $2$ and $-2$, unlike what the inclusive-or symbol ($\lor$) implies. Although it may seem obvious, it's just wrong to say that $x$ has both values.
I always thought of this as a strange convention. Where does it come from? Why is it used today? Why not use an exclusive disjunction symbol, such as "$\oplus$" (although in equations this "$\oplus$" symbol is prone to be confused with self-defined operators, there are many others)?
Edit:
I was starting to doubt the validity of my arguments, so I tried to formalize them little more. Here's the result (still, I'm not very convinced of my own argument):
Remember $a\lor b=(a\land b)\oplus(a\land \lnot b)\oplus(\lnot a\land b)$ as shown by the following: $$ 0\lor 0=(0\land 0)\oplus(0\land \lnot 0)\oplus(\lnot 0\land 0) = 0\\ 0\lor 1=(0\land 1)\oplus(0\land \lnot 1)\oplus(\lnot 0\land 1) = 1\\ 1\lor 0=(1\land 0)\oplus(1\land \lnot 0)\oplus(\lnot 1\land 0) =1\\ 1\lor 1=(1\land 1)\oplus(1\land \lnot 1)\oplus(\lnot 1\land 1)=1\\ $$
While $a\oplus b=(a\land \lnot b)\oplus(\lnot a\land b)$ $$ 0\oplus 0=(0\land \lnot 0)\oplus(\lnot 0\land 0)=0\\ 0\oplus 1=(0\land \lnot 1)\oplus(\lnot 0\land 1)= 1\\ 1\oplus 0=(1\land \lnot 0)\oplus(\lnot 1\land 0)=1\\ 1\oplus 1=(1\land \lnot 1)\oplus(\lnot 1\land 1)=0\\ $$
Now take $a = P(\{x=2\})$ and $b = P(\{x=-2\})$ where $x^2=4$ and $P$ is the predicate function.
Now let's say they're both true at the same time $(1;1)$ (which should be false, as a number can only have one value), and test whether that is valid according to inclusive-or: it turns out it is, $1\lor 1=1$! But that is ridiculous, $a\land b$ should not be considered even as a mere option, $P(\{x=2\})$ and $P(\{x=-2\})$ (the values of our predicates, $a$ and $b$) are mutually exclusive!
In fact, if we were talking about the corresponding predicates of $\pm 0$, however; as I admited (I haven't thought of it until @Asaf Karagila considered it; and would've never considered what @Trevor Wilson said), it was possible, and in fact a necessary option, that $a\land b$. Anyway, in those cases, simple ol' plain inclusive disjunction should be used.
Because (a) we don't care about this sort of redundancy; and (b) generally $x^2=y^2\iff y=x\lor x=-y$, replacing this with an exclusive or is false for $x=y=0$.