Mr. David Feick reports

HAMMOND POWER SOLUTIONS INCREASES QUARTERLY DIVIDEND

The board of directors of Hammond Power Solutions Inc. has declared a quarterly cash dividend of 15 cents per Class A subordinate voting share and a quarterly cash dividend of 15 cents per Class B common share payable on Sept. 22, 2023, to shareholders of record at the close of business on Sept. 15, 2023. The ex dividend date is Sept. 14, 2023.

Important income tax information for Canadian resident shareholders

Hammond Power designates the entire amount of this taxable dividend to be an eligible dividend for purposes of the Income Tax Act (Canada) as amended from time to time. This notice meets the requirements of the Income Tax Act (Canada). Please contact your tax adviser if you have any questions with regard to the designation of the eligible dividend.

About Hammond Power Solutions Inc.

Hammond Power enables electrification through its broad range of dry-type transformers, power quality products and related magnetics. Hammond Power'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 Power shares are listed on the Toronto Stock Exchange and trade under the symbol HPS.A.

We seek Safe Harbor.