Mr. Andrew van Doorn reports

HONEYWELL COMMUNITY SOLAR PROJECT SB 13-2 SUCCESSFULLY ACHIEVES COMMERCIAL OPERATION IN UPSTATE NEW YORK

Powerbank Corp.'s 7.01-megawatt-direct-current/five-megawatt-alternating-current ground-mount community solar project, known as SB 13-2, located in Upstate New York, has achieved commercial operation. The 7.01-megawatt project was developed and constructed by Powerbank for Honeywell International Inc. as part of the company's $41-million (U.S.) transaction covering a portfolio of three community solar projects totalling 21 megawatts DC. The project is built on an industrial brownfield, regulated by the New York State Department of Environmental Conservation, which is owned by Honeywell. The project is planned to move from Honeywell International to Honeywell Aerospace Inc. when Honeywell completes the planned spinoff of Honeywell Aerospace on June 29, 2026.

Powerbank developed SB 13-2 as part of a three-project portfolio alongside SB 13-1 and SB-14. In September, 2023, the company completed the sale of the projects to Honeywell and entered into an engineering, procurement and construction (EPC) agreement to build the projects through to commercial operation. The total transaction value, including the sale of the projects and the EPC agreement, is approximately $41-million (U.S.).

Community solar allows dozens or even hundreds of renters and homeowners to save money from the electricity generated by the project. By subscribing to a community solar project, a homeowner earns credits on their electric bill every month from their share of the solar energy generated, accessing the financial and environmental benefits of solar without installing panels on their home.

Andrew van Doorn, president and chief operating officer of Powerbank, commented: "The commercial operation of SB 13-2 marks another important milestone in Powerbank's execution of the Honeywell portfolio and demonstrates our full-cycle capability, from site origination and development through EPC construction and commercial operation. Delivering a five-megaqatt-AC-class community solar project that is now actively supplying clean energy to New York residents reflects the strength of our project execution platform, and we look forward to the remaining projects in this portfolio reaching operation."

Having now developed and constructed over 100 megawatts of clean energy projects across North America, with a pipeline exceeding one gigawatt, Powerbank is increasingly well positioned to serve not only traditional utility and community solar offtakers but also the rapidly growing demand for reliable, on-site power generation driven by AI (artificial intelligence) compute infrastructure and modular data centres. As the company executes on its newly announced strategic growth vertical, leveraging its portfolio of solar and battery energy storage sites to support the next generation of digital infrastructure, milestones such as SB 13-2 reinforce the operational record and site development expertise that will serve as the foundation for that expansion.

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 offtakers. As AI 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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