Mr. Peter Medved reports

GLOBAL POWER SOLUTIONS PROVIDES UPDATE ON POTENTIAL REACTIVATION OF PERU HOSPITAL PROJECT

Global Power Solutions Corp. has provided an update regarding the potential reactivation of a previously announced hospital development project in Peru involving EsSalud, Peru's social health insurance authority.

The company's predecessor, Minaean SP Construction Corp., previously entered into a memorandum of understanding (MOU) with EsSalud in connection with the proposed development and construction of a 224-bed hospital in Chiclayo, Lambayeque province, Peru.

The project did not advance during the period of political and administrative change in Peru, and the previous MOU has since expired.

Representatives of the current EsSalud administration have recently expressed interest in reopening discussions regarding the proposed hospital project and potentially negotiating a new MOU with Global Power.

The company expects to receive formal correspondence from EsSalud regarding potential next steps. Should discussions progress, a new MOU would be required before the parties could proceed with further project development.

Pete Medved, president and chief executive officer of Global Power Solutions, commented: "We are encouraged by the renewed interest in this project. The original hospital initiative represented a significant infrastructure opportunity for the company, and we welcome the opportunity to re-engage with EsSalud and determine whether a new framework can be established to move the project forward.

"Our immediate focus will be on confirming the project requirements with EsSalud, reconnecting with our Canadian partners and evaluating an appropriate structure for potential Canadian participation."

Potential Canadian consortium and project structure

The previous project framework contemplated the formation of a Canadian consortium and potential participation by the Canadian Commercial Corp. (CCC), together with potential export credit financing.

If discussions with EsSalud progress, Global Power intends to re-engage with potential Canadian project partners and explore an appropriate consortium structure for consideration by CCC.

Any participation by CCC, Export Development Canada (EDC) or another export credit agency would remain subject to their respective due diligence, review and approval processes. No financing arrangements or CCC participation have been finalized in connection with a renewed project.

Next steps

Subject to further discussions with EsSalud, the company anticipates that potential next steps may include:

• Receiving formal communication from EsSalud regarding the proposed reactivation of the project;
• Reviewing and confirming the current scope and requirements of the proposed hospital;
• Negotiating a new MOU with EsSalud;
• Re-engaging with potential Canadian consortium partners;
• Evaluating potential project delivery and financing structures, including possible engagement with CCC and applicable export credit agencies.

The company will provide further updates if and when material developments occur.

There can be no assurance that a new MOU will be executed, that CCC or any export credit agency will participate in the project, that financing will be obtained, or that the proposed hospital project will proceed on its previously contemplated terms or at all.

About Global Power Solutions Corp.

Global Power Solutions is expanding its business strategy to become a provider of innovative clean energy infrastructure designed to support the rapidly growing power requirements of AI (artificial intelligence) data centres and mission-critical facilities. The company is focused on developing hydrogen-enabled baseload power solutions that provide reliable, scalable and sustainable energy where traditional grid infrastructure is constrained or unavailable. In addition, Global Power continues its established operations in the manufacture of light gauge steel components and modular building systems for the construction industry.

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