Mr. Raghu Kilambi reports

POWERTAP ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING AND RESIGNATION OF FORMER AUDITOR

Powertap Hydrogen Capital Corp. has released the results of the annual general meeting held on June 8, 2023.

All matters submitted to shareholders for approval as set forth in the company's notice of meeting and information circular, both dated April 25, 2023, were approved at the meeting. There were 15 shareholders represented in person or by proxy at the meeting, holding 2,855,601 common shares, representing 0.61 per cent of the company's total issued and outstanding common shares as of the record date for the meeting. The voting results for each matter presented at the meeting are set out herein.

Number of directors

The resolution to set the number of directors of the company at four was approved by votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the meeting. Voting results are set out herein.

      VOTING RESULTS FOR NUMBER
             OF DIRECTORS

      Votes for        Votes against  

2,768,628   96.95%     86,973   3.05%

Election of directors

Each of the nominees for election as a director listed in the company's information circular dated April 25, 2023, was elected as a director of the company for the ensuing year until a successor is elected or appointed. Voting results are set out herein.

          VOTING RESULTS FOR ELECTION OF DIRECTORS

                                   Votes for      Votes against  

                                Number       %    Number      %  

John Martin                  2,726,868   95.49   128,733   4.51 
Raghunath (Raghu) Kilambi    2,718,774   95.21   136,827   4.79 
John Zorbas                  2,725,018   95.43   130,583   4.57 
Byron Berry                  2,736,873   95.84   118,728   4.16 

Appointment of auditor

The resolution to reappoint Smythe LLP as auditor of the company for the ensuing year, with its remuneration to be fixed by the board of directors, was varied, as the company received a notice of resignation from Smythe after the publication of the information circular on SEDAR. At the meeting, the board varied the resolution so that Shim & Associates LLP would be appointed as auditor of the company for the ensuing year, with its remuneration to be fixed by the board of directors. Voting results are set out herein.

         VOTING RESULTS FOR 
       APPOINTMENT OF AUDITOR

       Votes for        Votes against  

2,819,904   98.75%      35,697   1.25%

Approval of other matters

The resolution to transact such other business may be brought properly before the meeting and any adjournment or postponement of the meeting. Voting results are set out herein.

       VOTING RESULTS FOR 
         OTHER MATTERS

      Votes for        Votes against  

2,732,513   95.69%     132,088  4.31%

Change of auditor

There were no reservations in Smythe's audit reports for any financial period during which Smythe was the company's auditor. There are no reportable events (as the term is defined in National Instrument 51-102 (Continuous Disclosure Obligations)) between the company and Smythe. The company is concurrently attending to the filing of the notice of change of auditor package on SEDAR as required by National Instrument 51-102 with regard to the appointment of Shim as the successor auditor.

About Powertap Hydrogen Capital Corp.

Powertap, through its wholly owned subsidiary, Powertap Hydrogen Fueling Corp., is focused on installing hydrogen production and dispensing fuelling infrastructure in the United States. Powertap's patented solution has been developed over 20 years. Powertap is commercializing its third-generation blue hydrogen product that will focus on the refuelling needs of the automotive and long-haul trucking markets that lack hydrogen fuelling infrastructure.

We seek Safe Harbor.