Mr. Myke Clark reports

SOLAR ALLIANCE CONTINUES TO GROW PROJECT BACKLOG WITH FIVE NEW PROJECTS TOTALING $1.1 MILLION

Solar Alliance Energy Inc. has signed contracts for five solar projects in the southeast United States, ranging in size from 40 kilowatts (kW) to 113 kW.

The contracts include the design and installation of solar projects for a range of industries in Tennessee and Kentucky, and have a combined capital cost of $1.1-million.

All of the projects are expected to be completed in 2023 and contribute to a backlog of contracted projects totalling $3.1-million.

"Solar Alliance is proud to help small- and medium-size businesses lower their operating costs along with their energy usage, making solar a practical option for them," said Myke Clark, chief executive officer. "While we continue to execute on larger solar projects, we are also increasing sales of smaller commercial projects that contribute to our overall growth trajectory. A diverse pipeline of projects helps Solar Alliance manage cash flows and grow responsibly as we target profitability. These projects are particularly important to Solar Alliance as the electricity cost savings that will result from the switch to solar will enable these businesses to reinvest their hard-earned capital into other opportunities."

The most recent contracts signed in the southeast U.S. include:

• A 113 kW system for a manufacturing client in Red Boiling Springs, Tenn.;
• A 48 kW rooftop solar project on an office building in Oak Ridge, Tenn.;
• A 46 kW solar system for an agricultural client in Bowling Green, Ky.;
• A 44 kW solar system for an engineering firm Cleveland, Tenn.;
• A 40 kW project for a beverage warehousing client in Newport, Tenn.

The latest contracted projects add small- and medium-scale systems to the pipeline that includes larger commercial projects, including an 872 kW, $1.8-million solar system announced on Feb. 13, 2023, for a Tennessee manufacturing client that is scheduled to begin construction in Q2 2023 with completion targeted by October, 2023.

"Resilience for business owners in addition to a lower cost of energy is making on-site solar energy production an attractive alternative for businesses in the southeast U.S. Our goal is to provide low-cost, renewable solar power to businesses so they can reduce their operating costs. The availability of investment tax credits for businesses makes solar power even more attractive and we are proud to be helping so many businesses transition to solar," concluded Mr. Clark.

About Solar Alliance Energy Inc.

Solar Alliance is an energy solutions provider focused on the commercial, utility and community solar sectors. Its experienced team of solar professionals reduces or eliminates customers' vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey, clean energy solutions. Solar Alliance's strategy is to build, own and operate its own solar assets while also generating stable revenue through the sale and installation of solar projects to commercial and utility customers. The company currently owns two operating solar projects in New York and is actively pursuing opportunities to grow its ownership pipeline. The technical and operational synergies from this combined business model supports sustained growth across the solar project value chain from design, engineering, installation, ownership and operations/maintenance.

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