Mr. Frank Carnevale reports

ALKALINE FUEL CELL POWER PROVIDES UPDATE ON STATUS OF MCTO

Alkaline Fuel Cell Power Corp. has provided this update on the status of a management cease trade order granted on April 3, 2023, by the British Columbia Securities Commission under National Policy 12-203, Management Cease Trade Order. On April 3, 2023, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements and accompanying management's discussion and analysis for the fiscal year ended December 31, 2022 (the "Annual Filings") beyond the period prescribed under applicable Canadian securities laws (the "Default Announcement").

The Company reports that the audit is progressing and will provide a further update on the timing of its Annual Filings on or about May 15, 2023. The Company is also progressing on completion of its interim financial statements and accompanying management's discussion and analysis for the first quarter ended March 30, 2023, and will provide a further update on or about May 15, 2023. Further updates on timing will be provided by the Company as necessary.

During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's Chief Executive Office and Chief Financial Officer will not be able to trade in the Company's common shares.

Other than as disclosed in this news release, there are no material changes to the information contained in the Default Announcement. The Company confirms that it intends to satisfy the provisions of NP 12-203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the Annual Filings requirement.

About ALKALINE FUEL CELL POWER CORP. (NEO: PWWR)

PWWR is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring 'Power to the People' today, combining a stable revenue stream with a future-forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.

PWWR is well positioned to deliver 'Power to the People' in the global energy transition while offering a diversified cleantech growth platform for investors.

We seek Safe Harbor.