Ms. Tracy Zheng reports

POWERBANK EXECUTES INTERCONNECTION AGREEMENT FOR 3.15 MW NOVA SCOTIA COMMUNITY SOLAR PROJECT

The project owner has executed the standard small generator interconnection and operating agreement (SSGIA) for Powerbank Corp.'s 3.15-megawatt DC (direct current) Petpeswick ground-mounted community solar project in Halifax, N.S. The project has also secured municipal permits and will now advance to environmental permitting. The project is expected to power the equivalent of approximately 288 homes annually and generate roughly $1,727,000 in lifetime electricity savings for the local community.

A standard small generator interconnection and operating agreement (SSGIA) is the formal contract that lets a smaller power project connect to and operate on the electricity grid. It sets the technical and safety rules for the physical connection and spells out who pays for any grid upgrades. For the Petpeswick project, signing it is a key milestone, confirming a clear, approved path to deliver solar power to the Nova Scotia grid before construction can begin.

Given the successful completion of the SSGIA and the receipt of necessary permits from the municipality, Powerbank will now be proceeding to environmental permitting. Powerbank targets commencement of ground preparation in the fall of 2026 for the Petpeswick project, subject to final permitting and financing. Find details on Powerbank's progress on three community solar projects in Nova Scotia here.

The project is owned by AI Renewable Flow-through Fund and Powerbank is the lead developer for the project. Powerbank has partnered with local Nova Scotia's trusted engineering firm, Trimac Engineering, to deliver the projects. Powerbank has been at the forefront of community solar development in the United States with over 50 MW of community solar projects completed and is proud to be deploying its expertise in Canada as the community solar market develops there.

Over the lifetime of the project, it is expected to generate approximately $1,727,000 in electricity savings for the local community in Halifax, N.S. These savings come with additional benefits including local job creation, economic activity and emissions reductions.

Community solar is a cornerstone of Nova Scotia's bold commitment to achieve 80-per-cent renewable energy by 2030 and net zero by 2035.

Unlike traditional rooftop systems, community solar allows renters, businesses, and homeowners to subscribe to the solar farm and receive bill credits and savings of two cents per kilowatt-hour -- without installing any equipment. Project feeds directly into the local electricity grid and offers a flexible, accessible way for Nova Scotians to participate in the clean energy transition. As one of only four community solar contracts awarded under the program so far, the Petpeswick project contributes approximately 3.15 MW DC to the 100 MW AC (alternating current) of planned solar additions that will help reduce fossil fuel reliance and drive local economic development.

The project leverages Powerbank's proven execution capabilities and strategic partnerships. With over 100 MW of projects built and a one-plus-gigawatt (GW) development pipeline, Powerbank brings institutional-grade development expertise to Atlantic Canada. The project's clear timeline ensures near-term EPC revenue generation, and positions Powerbank to obtain additional development contracts in the high-growth community solar market. All MW numbers presented as MW DC unless otherwise specified.

There are several risks associated with the development of the project. The development of any project is subject to receipt of a community solar contract, receipt of required permits, the availability of third party financing arrangements for the company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives, and policy support schemes for solar power, which could result in the project no longer being economic.

About Powerbank Corp.

Powerbank is a vertically integrated and independent North American energy company helping to power the digital economy. The company develops, builds, owns, and operates solar and battery energy storage systems that deliver reliable, resilient, and behind-the-meter power to the electricity grid, commercial and industrial clients, and municipal and residential off-takers. As AI (artificial intelligence) and digital infrastructure drive unprecedented electricity demand, Powerbank is uniquely positioned to deliver the speed, scale and energy independence that the next generation of power consumers requires, without waiting years for grid interconnection. The company has a potential development pipeline of over one gigawatt and has developed energy projects with a combined capacity of over 100 megawatts built.

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