Ms. Tracy Zheng reports

SOLARBANK ENGAGES INVESTOR RELATIONS SERVICE PROVIDERS

Solarbank Corp. has retained certain investor relations service providers.

The Company has entered into an agreement with Think Ink Marketing Data & Email Services LLC ("Think Ink") to provide public relations services in an effort to increase public awareness of the Company and its services and securities. Certain services to be provided by Think Ink are anticipated to include 'investor relations activities' under the policies of the Canadian Securities Exchange and applicable securities laws.

The agreement is for a 12 month term commencing May 26, 2023 with either party having the right to terminate upon 30 days written notice. The Company has budgeted up to US$250,000 for the marketing services of Think Ink, which include facilitating the creation and distribution of marketing materials, on-line banner and native ads.

Think Ink is a California-based marketing firm established in 1991 that provides its customers with a complete range of marketing services that includes data appending, e-mail marketing and pay-per-click on-line banner/native ads. Think Ink helps its clients to reach a large network of potential investors. No stock options are being granted to Think Inc. under the terms of its engagement.

The contact information for Think Ink is Think Ink Marketing Data & Email Services LLC, 3308 W. Warner Ave., Santa Ana, California 92704; Phone: 888-808-2161; Email: info@thinkinkmarketing.com. Think Ink and its principals are arm's length to the Company.

The Company also announces that it has engaged Financial Research & Publication Ltd. ("FRP") of 20-22 Wenlock Road London N1 7GU, Phone: +44 20 3608 1991; Email: financial.research.uk@gmail.com. FRP is a London-based consulting & media firm, that will provide the Company with strategic consulting, brand media, and business development services for the European market. Certain services to be provided by FRP are anticipated to include 'investor relations activities' under the policies of the Canadian Securities Exchange and applicable securities laws.

FRP will suggest press initiatives, on-line and traditional media content creation, Web development and webcasting, and translation services focused on the European Union. FRP will distribute through a variety of different platforms and media types across the Internet. FRP shall set up various online meetings, webinars and other online-tools for such purpose. FRP and its principals are arm's length to the Company. The engagement is effective June 1, 2023 to December 31, 2023 and for a total fee of 400,000 Euros. The Company may terminate the agreement upon 30 days written notice. No stock options are being granted to FRP under the terms of its engagement and, to the knowledge of the Company, FRP does not own any common shares or other securities of the Company.

ABOUT SOLARBANK CORPORATION

SolarBank Corporation is an independent renewable and clean energy project developer focusing on distributed and community solar projects in Canada and the USA. The Company develops solar projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company maximizes returns via a diverse portfolio of projects across multiple leading solar markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has completed over 1,000 development projects with a combined capacity of over 60 megawatts. It currently has a potential development pipeline of over 700 megawatts. To learn more about SolarBank, please visit www.solarbankcorp.com.

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