Mr. Mark Tadros reports

STARDUST SOLAR ZAMBIA SECURES 20-YEAR POWER PURCHASE AGREEMENT FOR 30MW UTILITY-SCALE PROJECT

Stardust Solar Energy Inc. has secured a 20-year, utility-scale power purchase agreement (PPA) in Zambia to support a 30-megawatt solar project with up to $60-million (U.S.) to $90-million (U.S.) in contracted gross revenues. The government-backed agreement establishes long-duration, recurring royalty streams. It represents the largest royalty-based infrastructure transaction in the company's history, materially advancing Stardust Solar's diversified global solar royalty strategy.

Through its partnership with its Zambian subsidiary, Stardust Solar Zambia (SSZ), the company has secured a 30-megawatt PPA with Zesco Ltd. Zesco is a state-owned utility responsible for the majority of Zambia's national power transmission and distribution. The contract provides the right to sell solar-generated electricity to the government of Zambia at a fixed rate of seven U.S. cents per kilowatt-hour for a 20-year term. Based on current assumptions and national energy demands, the project is expected to generate total gross revenues of approximately $60-million (U.S.) to $90-million (U.S.) over the contract life.

Under a fully executed loan and joint venture agreement dated Jan. 12, 2026, Stardust Solar will finance project development and construction and provide all utility-scale engineering and technical oversight. In return, the company will earn a 50-per-cent royalty on all energy revenues, after approved allowable operating expenses, for the remaining term of the PPA following repayment of the project loan and interest. This structure creates a high-margin, multidecade recurring revenue stream.

"This agreement represents a defining milestone for Stardust Solar and the strongest validation to date of our royalty-based growth strategy," said Mark Tadros, chief executive officer of Stardust Solar Energy. "By securing a 20-year, government-backed power purchase agreement with a 50-per-cent recurring royalty interest, we are establishing long-duration, high-margin cash flows that directly support our objective of building a scalable global solar royalty platform while delivering clean, reliable energy to countries in need."

The 30-megawatt, utility-scale solar facility, comprising approximately 45,000 high-efficiency solar panels, is expected to reach commercial operation later this year upon completion of first two megawatts of solar (phase 1 of the build). The project site includes 50 hectares of secured land, exceeding the requirements of the current PPA and providing capacity for further expansion under the existing development framework. Senior leadership will travel to Zambia in February to meet with government officials and utility stakeholders and attend the project's formal groundbreaking ceremony.

"This project reflects the type of long-term, infrastructure-aligned investment Zambia is actively encouraging," said Dr. Ochas Kashinge Pupwe, principal of Stardust Solar Zambia and Megatricity Energy Ltd. "Utility-scale solar developments supported by stable power purchase agreements play a critical role in strengthening national energy security, supporting economic growth and accelerating the country's transition to reliable, low-carbon power. We welcome Stardust Solar's commitment to delivering scalable, technically renewable energy solutions in partnership with Zambian stakeholders."

This agreement reinforces Stardust Solar's strategy of building a diversified portfolio of long-duration, royalty-based solar assets designed to deliver scalable growth, recurring cash flows and long-term shareholder value.

About Stardust Solar Energy Inc.

Stardust Solar Energy is a diversified solar royalty company developing multiple recurring revenue streams across residential, commercial and utility-scale markets in North America, with international expansion initiatives under way. The company generates revenues through royalties, licensing arrangements, subscription models, training and education programs, and contributions from its clean-energy franchise operations, all structured to support scalable, recurring value creation. Through strategic growth initiatives and a focus on sustainability-driven innovation, Stardust Solar is advancing renewable-energy adoption while building long-term value for shareholders and stakeholders.