Ms. Tracy Zheng reports

$168 MILLION USD IN CONSTRUCTION VALUE OF PROJECTS - POWERBANK SHARES ADDITIONAL INFORMATION ON THE SAFE HARBOR OF 15 DISTRIBUTED SOLAR AND ENERGY STORAGE PROJECTS IN NEW YORK STATE

Powerbank Corp. has shared additional updates following the recent announcement of the safe harbor of 15 late-stage distributed solar and energy storage projects across New York state. The projects are expected to bring approximately 67-megawatt DC of solar and 11 megawatt-hours of energy storage to the State.

For 14 of the 15 projects, the company has secured positive interconnection studies with the local utility. The company has been working to complete the permitting process and secure the necessary financing for the construction of the projects.

Powerbank has the option to continue as the owner on some or all of the projects under its expanding portfolio as an independent power producer and intends on delivering the full EPC scope for the projects whether it retains ownership or not.

The projects range in size from 500-kilowatt DC to seven MW DC for distributed solar, and 1.2 to eight MWh for battery energy storage systems. The combined power from the 15 projects could power approximately 7,500 homes in the State.

Once completed, the projects will be operated as either community solar or net-metred projects. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home. This allows homeowners to realize a reduced cost per kW/hour from the power they consume versus standard utility rates.

Net-metred projects provide on-site power to a customer behind the metre. Excess power produced is exported to the grid and netted out on the customer's bill, providing economic savings to the customer and environmental benefits via the VDER compensation mechanism.

Powerbank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding one gigawatt, underpins the execution of the projects. Strategic partnerships and institutional-grade development capabilities position Powerbank to deliver reliable, high-impact renewable energy solutions.

The projects advance New York's path to 10 GW of distributed solar and six GW of energy storage by 2030. The state leads the United States in community solar capacity, having achieved the New York State Climate Act six GW solar goal in the fall of 2024.

About Powerbank Corp.

Powerbank is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the United States. The company develops solar and battery energy storage system (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential offtakers. The company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host offtakers, community solar and virtual net metreing projects. The company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.

We seek Safe Harbor.