Mr. Myke Clark reports

SOLAR ALLIANCE TO FOCUS ON CONTINUED U.S. GROWTH, TERMINATES CANADIAN ACQUISITION LOI

Solar Alliance Energy Inc.'s non-binding letter of intent entered into on May 16, 2023, to acquire an Alberta, Canada-based, commercial solar company has been terminated in accordance with its terms.

"We have decided to focus our corporate and operational efforts in the United States," said chief executive officer Myke Clark. "The political and market uncertainty in Alberta, combined with excessively dilutive acquisition terms due to capital markets volatility, has reaffirmed our commitment to the U.S. solar market. Our team continues to reduce costs, increase revenues and increase margins as we experience growth in the U.S. commercial solar market. As a result, we have the flexibility to wait for more favourable market conditions and acquisition opportunities as we continue to experience strong organic growth."

Solar Alliance continues to source and assess acquisition opportunities that meet the company's criteria of profitability, market opportunity and strong management teams.

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 our own solar assets while also generating stable revenue through the sale and installation of solar projects to commercial and utility customers.

We seek Safe Harbor.