Mr. Adrian Thomas reports

HAMMOND POWER SOLUTIONS ANNOUNCES ADRIAN THOMAS AS CHIEF EXECUTIVE OFFICER

Hammond Power Solutions Inc. has appointed Adrian Thomas as the company's next chief executive officer, replacing Bill Hammond, who will assume the position of executive chairman after 22 years as the CEO. Mr. Thomas will also be appointed to Hammond's board of directors. The announcement follows an extensive search process conducted by the board of directors which included the evaluation of highly qualified internal and external candidates and was aided with the support of an executive search firm.

"Adrian is a highly capable and seasoned leader with over two decades of experience across the electrical industry and has successfully led teams launching technologies globally," said Grant Robinson, lead director of Hammond. "Adrian gained valuable experience during his tenure at Schneider Electric and fully understands the opportunity in front of HPS as countries around the world are recognizing the long-term benefits of electrifying their economies and are continuing to adopt power sources with a lower carbon footprint."

Mr. Thomas is a highly experienced professional with over 20 years of expertise in the electrical and automation industry. Throughout his career, he has held key positions at renowned companies such as General Electric (GE), TMEIC and most recently Schneider Electric. Mr. Thomas's experience has included a number of senior executive roles in Canada at both GE and Schneider Electric, where he has consistently demonstrated exceptional leadership and a deep understanding of the industry.

"I am excited to join HPS, a company that has been around for more than a century and is recognized globally as the gold standard for dry-type transformers and service," said Mr. Thomas. "HPS has an incredible platform for growth, and I look forward to working with Bill and the broader HPS team to meet the increasing demand from our customers."

"I welcome Adrian into the HPS family and look forward to working together to build our company globally with the same commitment to innovation and to our customers that has been the foundation of our company for more than 100 years," said Mr. Hammond, chairman of Hammond. "Adrian is a proud Canadian and shares our enthusiasm for building a Canadian company that dominates the dry transformer market."

Mr. Thomas strongly believes in the power of diversity, equity and inclusion in driving innovation and economic growth. He is a vocal advocate for creating inclusive workplaces that embrace diverse perspectives, recognizing the role they play in fostering innovation and creating growth.

Beyond his professional achievements, Mr. Thomas is actively engaged in various not-for-profit associations. Currently, he serves as the president of the European Chamber of Commerce in Canada (EUCCAN), where he plays a pivotal role in promoting trade and fostering strong relationships between European and Canadian businesses. Additionally, Mr. Thomas is the chair of the National Energy Roundtable and holds a position on the board of the Electrofederation of Canada, where he contributes to shaping the industry's future.

Mr. Thomas holds a degree in electrical engineering from McMaster University and a postgraduate certificate in finance for executives from Northwestern University's Kellogg School of Management.

About Hammond Power Solutions Inc.

Hammond Power Solutions enables electrification through its broad range of dry-type transformers, power quality products and related magnetics. Hammond's standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The company has manufacturing plants in Canada, the United States, Mexico and India and sells its products around the globe. Hammond shares are listed on the Toronto Stock Exchange and trade under the symbol HPS.A.