Ms. Tracy Zheng reports

POWERBANK CORPORATION RECEIVES ADDITIONAL 180-DAY COMPLIANCE PERIOD FROM NASDAQ TO REGAIN COMPLIANCE WITH MINIMUM BID PRICE REQUIREMENT

Powerbank Corp. has received written notification from The Nasdaq Stock Market LLC granting the company an additional 180-day period, or until March 28, 2027, to regain compliance with Nasdaq's minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The company satisfies the continued listing requirement for market value of publicly held shares and all other applicable listing requirements for initial listing on the Nasdaq Capital Market, except for the minimum bid price requirement.

The notification has no immediate effect on the listing or trading of the company's common shares, which will continue to trade on the Nasdaq Capital Market under the symbol PBK. If, at any time during the additional compliance period, the closing bid price of the company's common shares is at least $1.00 (U.S.) per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation that the company has regained compliance, and the matter will be closed.

As previously disclosed, the company received an initial notification from Nasdaq indicating that it was not in compliance with the minimum bid price requirement and was provided an initial 180-day compliance period through Sept. 29, 2026. In connection with its request for an additional compliance period, the company applied to transfer the listing of its common shares from the Nasdaq Global Market to the Nasdaq Capital Market. The transfer was approved by Nasdaq on Sept. 30, 2026, and became effective on Oct. 1, 2026.

The company intends to continue monitoring the closing bid price of its common shares between now and March 28, 2027, and will evaluate all available options during the second compliance period to rectify the deficiency and regain compliance with the minimum bid price requirement. The company's common shares will continue to be listed and traded on the Nasdaq Capital Market during this period.

ASDP

The company announces that effective as of October 2, 2026, certain of the company's directors, officers and consultants will establish an automatic securities disposition plan (ASDP) in accordance with applicable United States and Canadian securities legislation and the company's trading policies. The ASDP will allow for the sale of common shares of the company, including those to be issued upon the exercise or settlement of equity-based compensation arrangements or those issued in settlement of fees, at prevailing market prices with specific daily volume limits designed to mitigate potential impacts on the share price. Sales are authorized to begin the later of (i) 90 days following the adoption or modification of this ASDP or (ii) two business days following the disclosure in certain periodic reports of the company's financial results for the fiscal quarter in which this ASDP was adopted or modified (not to exceed 120 days following the adoption or modification of this ASDP).

Under United States and Canadian securities laws and the company's trading policies, insiders of Powerbank are subject to limits on their ability to sell shares in the company. ASDPs address this issue by permitting trades to be made in accordance with prearranged instructions given when executives are not in possession of any material undisclosed information. Canadian securities laws permit insiders to adopt ASDPs to sell, donate or otherwise transfer shares in the future in accordance with the prearranged terms of their ASDP, on an automatic basis, regardless of any subsequent material non-public information they receive. Once an ASDP is established, the insider is not permitted to exercise any further discretion or influence over how dispositions will occur under the ASDP.

Sales of shares under the ASDP will be executed by an independent securities broker in accordance with the trading parameters, price and volume limits and other instructions set out in the ASDP.

Dispositions by participants under the ASDP will be reported in accordance with applicable securities laws.

The participants in the ASDP are Dr. Richard Lu, chief executive officer; Matthew Wayrynen, executive chairman; Andrew van Doorn, president and chief operating officer; Paul Sparkes, director; and Olen Aasen, general counsel.

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 USA.

We seek Safe Harbor.