Mr. Richard Lu reports

POWERBANK IGNITES NEXT PHASE OF GROWTH WITH $4.2 MILLION STRATEGIC INVESTMENT FROM NEW INSTITUTIONAL INVESTORS TO ADVANCE U.S. FEDERAL PROJECTS

Powerbank Corp. has entered into securities purchase agreements with two new long-term institutional investors for the purchase and sale of seven million common shares in a registered direct offering. The gross proceeds from the offering are expected to be approximately $4.2 million, before deducting placement agent fees and other estimated offering expenses.

The closing of the offering is expected to occur on or about July 1, 2026, subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds from the offering for delivery of its independent power producer (IPP) project portfolio, working capital and general corporate purposes.

Richard Lu, chief executive officer of Powerbank, commented: "This $4.2-million (U.S.) financing represents an important milestone for Powerbank as we continue to execute on our growth strategy in the North American energy storage and energy market. The proceeds will directly support our IPP portfolio, including projects with U.S. Department of Military and Naval Affairs and other U.S. federal government projects."

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

The securities described above are being offered pursuant to an effective shelf registration statement on Form F-10 (file No. 333-287070), which became effective on May 9, 2025. The offering is being made only by means of a prospectus, which is part of the effective registration statement. A prospectus supplement and the accompanying prospectus relating to the offering will be filed with the U.S. Securities and Exchange Commission (SEC) and will be available on the SEC's website. Additionally, when available, electronic copies of the prospectus supplement and the accompanying prospectus may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Ave., 28th floor, New York, N.Y., 10022, or by telephone at 212-624-2060 or by e-mail at prospectus@allianceg.com.

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 and resilient power to the electricity grid, commercial and industrial clients, and municipal and residential offtakers. As AI (artificial intelligence) and digital infrastructure drive unprecedented electricity demand, Powerbank is uniquely positioned to deliver the speed, scale and energy independence that the next generation of power consumers requires, without waiting years for permitting and grid interconnection. The company has a potential development pipeline of over one gigawatt and has developed energy projects with a combined capacity of over 100 megawatts built.

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