Mr. Mike Cioce reports

LEGEND POWER SYSTEMS MAKES SIGNIFICANT STRIDES WITH THE GPG AND ANNOUNCES ISSUANCE OF EQUITY INCENTIVES

Legend Power Systems Inc. is making significant strides in the energy industry through its participation in the federal Green Proving Ground (GPG) program. The GPG program, a collaboration between the General Services Administration (GSA) and the Department of Energy, is focused on testing innovative building technologies to reduce operating costs and promote market transformation. The GPG is created and funded to identify new technologies to benefit for federally operated facilities, like the SmartGate from Legend Power Systems.

With an infusion of $30-million (U.S.) from the Inflation Reduction Act into the GPG program, it is set to evaluate a wider array of technologies over the next four years. This funding, combined with the GSA's $10-million (U.S.) investment over the past seven years, underscores the commitment to advancing energy-efficient solutions through the GPG.

Legend Power Systems, along with other forward-thinking companies like COI Energy and Logical Buildings, is actively contributing to the GPG initiative. Legend Power Systems provides an intelligent active power management platform that corrects and regulates power to a facility. This innovative approach aligns with the GPG's mission to bridge the technology gap, enabling the seamless integration of connected building technology equipment into building systems.

Within the GPG the U.S. federal government is projected to deploy the first tranche of SmartGate in the coming months as part of the GPG program.

Mike Cioce, vice-president of sales and marketing at Legend Power Systems, stated: "Our participation in the GPG program has allowed us to showcase our cutting-edge technology on a significant scale. By correcting and regulating power efficiently, we're not only reducing costs for building operators but also contributing to a more sustainable future."

The GPG program, through partnerships with industry leaders like Legend Power Systems, is preventing air pollution and reducing greenhouse gas emissions, ultimately offering a triple win for taxpayers. This initiative not only generates cost savings but also promotes energy conservation, leading to a healthier environment for all Americans.

GSA administrator Robin Carnahan emphasized the importance of these investments, saying: "The GPG program is one way we're creating the technical foundation for long-term, transformational changes ... We're aiming for a triple win: more good American jobs, cost savings to taxpayers from reduced energy consumption and a healthier future for all Americans."

Legend Power Systems continues to be at the forefront of energy innovation, driving transformative changes in the industry.

Additionally, Legend Power Systems announces that it has approved, subject to acceptance by the TSX Venture Exchange, the grant of 275,000 incentive stock options to acquire common shares in the capital of Legend Power Systems. One hundred thousand of the options were granted to an executive officer and the remainder to employees of the company. The options are non-transferable and exercisable until Nov. 1, 2028, at 18 cents per option, subject to vesting provisions, with one-sixth vesting six months from the date of grant and one-sixth vesting every six months thereafter.

About SmartGate

SmartGate is an industry-leading, turnkey solution which identifies and fixes underperformance and waste in the electrical system of a commercial building. These performance issues often impact key areas of commercial real estate metrics, including occupant safety and satisfaction as well as financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the building owner, including adverse tenant experiences.

About Legend Power Systems Inc.

Legend Power Systems provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend's proven solutions support pro-active executive decision-making in a complex and volatile business and energy environment.

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