Mr. Bob Emmott reports

MAXIM POWER CORP. ANNOUNCES ANNUAL GENERAL AND SPECIAL MEETING ELECTION RESULTS

Maxim Power Corp. has released the final director election results from its 2025 annual general and special meeting of shareholders held on June 3, 2025. A ballot was conducted at the meeting with respect to the election of the directors to hold office until the next annual meeting of shareholders. According to the proxies received and ballots cast, the following directors were elected at the meeting to hold office until the next annual meeting of shareholders or until their successors are elected or appointed, unless such office is earlier vacated in accordance with the bylaws of the corporation.

In addition to the foregoing, all unallocated stock options issuable pursuant to the corporation's stock option plan were approved and authorized at the meeting until June 3, 2028, as described in the information circular of the corporation dated April 21, 2025. The results of the vote by way of ballot were as follows.

Votes for    % votes for    Votes against   % of votes against
 
52,443,680         98.64          725,281                 1.36        

Shareholders were also asked to consider and, if thought fit, approve an ordinary resolution to confirm the amended and restated bylaw No. 1 of the corporation, as described in the information circular of the corporation dated April 21, 2025. The results of the vote by way of ballot were as follows.

Votes for   % votes for   Votes against   % of votes against 

53,162,046        99.99           6,915                 0.01        

For complete voting results with respect to the meeting, please see Maxim's report of voting results, which will be available shortly under the corporation's profile on SEDAR+.

About Maxim Power Corp.

Based in Calgary, Alta., Maxim is one of Canada's largest truly independent power producers. Maxim is focused entirely on power projects in Alberta. Its core asset -- the 300-megawatt H.R. Milner plant, M2, in Grande Cache, Alta. -- is a state-of-the-art combined cycle gas-fired power plant that commissioned in fourth quarter 2023. Maxim continues to explore additional development options in Alberta, including its currently permitted gas-fired generation project and the permitting of its wind power generation project. Maxim trades on the Toronto Stock Exchange under the symbol MXG.