Ms. Tracy Zheng reports

POWErbank ANNOUNCES $841,555 USD NYSERDA INCENTIVE FOR 3.1 MW COMMUNITY SOLAR PROJECT IN BUFFALO, NEW YORK

Powerbank Corp.'s 3.1-megawatt NY-South Park community solar project located on a closed landfill site in Buffalo, N.Y., has been approved for $841,555 (U.S.) in incentives through the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program. The project was most recently discussed in a permitting progress update shared here.

The project is expected to qualify for up to an additional $730,234 (U.S.) in NYSERDA incentives through the NY-Sun Inclusive Community Solar Adder and the Retail Energy Storage Incentive Program, for a total of up to $1,571,789 (U.S.) in NYSERDA funding.

The NY-South Park project is expected to deliver enough clean energy to power the equivalent of approximately 388 homes annually. Once constructed and operational, following receipt of financing and required permits, the project is expected to be operated as a community solar project. Community solar is a solar photovoltaic system interconnected directly to the local electricity grid via distribution lines. Once the system is placed into service by the utility and generating electricity, clean energy from the site feeds into the local power grid, enabling dozens or hundreds of renters, homeowners and electricity customers to save money from the electricity 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 is generated by the project, accessing the benefits of solar without installing panels on their home.

The NY-Sun Program is a public-private partnership that aims to drive growth in the solar industry and make solar technology more affordable for all New Yorkers. Led by NYSERDA, the program provides incentives and financing to expand solar adoption for homes, businesses and communities, while supporting local job creation and advancing the state's clean energy goals.

Powerbank's demonstrated ability to secure government incentives across its New York portfolio, including previously announced NYSERDA awards for the Elmira, Jordan Rd 1, Jordan Rd 2 and Geddes projects, reflects the institutional-grade development capabilities that underpin the company's broader strategic evolution. As announced on June 1, 2026, Powerbank has positioned AI compute infrastructure and modular data center development as a core strategic growth vertical alongside its solar and battery energy storage business. This new vertical is directly enabled by the company's growing portfolio of permitted, incentive-backed renewable energy sites across North America. Powerbank's proven expertise in navigating state-level incentive programs, with over 100 MW of completed projects and a development pipeline exceeding one gigawatts, positions the company to serve as a power solutions provider for the digital economy at a time of unprecedented electricity demand.

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

There are several risks associated with the development of the project. The development of any project is subject to receipt of a community solar contract, receipt of required permits, the availability of third party financing arrangements for the company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in the project no longer being economic. The award is contingent on the project's continued qualification under SSFA or ICSA; NYSERDA reserves the right to rescind the full award in the event the project no longer qualifies.

About Powerbank Corp.

Powerbank is a vertically integrated and independent North American energy company helping to power the digital economy. The company develops, builds, owns, and operates solar and battery energy storage systems that deliver reliable, resilient and behind-the-meter power to the electricity grid, commercial, and industrial clients and municipal and residential off-takers. The company has a potential development pipeline of over one gigawatts and has developed energy projects with a combined capacity of over 100 megawatts built.

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