Ms. Tracy Zheng reports

POWERBANK SHARES UPDATE ON PENNSYLVANIA PROJECT INTERCONNECTION; PROJECT EXPECTED TO BE ONE OF THE FIRST COMMUNITY SOLAR PROJECTS OF ITS KIND IN THE STATE

Powerbank Corp.'s 4.22-megawatt ground-mount solar project at Grandview Road, located in Pennsylvania, has completed the Interconnection Impact Review (IRR). This project was included in the previous press release of a larger Pennsylvania project, which can be found on the company's website. The Grandview project first announced as a 13.8 MW direct-current project in Lancaster county has been split into multiple projects.

Upon securing permits and financing and the approval of House Bill 1842 (discussed below), Powerbank expects to commence construction, with the project set to operate as a community solar initiative. This innovative model enables renters, businesses and homeowners to subscribe to the solar farm, receiving bill credits and savings without installing on-site equipment. The clean energy generated by a community solar project feeds directly into the local electricity grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can earn credits on their electric bill and save money from the electricity that is generated by the project. Powerbank's strategic focus on community solar aligns with its goal of powering thousands of homes with clean and affordable energy.

On March 26, 2024, the Pennsylvania House passed House Bill 1842, a bill enabling the potential development of community solar projects in the state, paving the way for companies like Powerbank to expand into the region and provide clean energy to residents of various income levels. On May 7, 2025, the bill passed House again with the addition of natural gas included in the community solar's application. The bill is currently under review by the Senate. The development of the project as a community solar project will be subject to the final approval of House Bill 1842 by the State government of Pennsylvania. If the bill does not pass, the project will proceed as a net metered system under the Pennsylvania Alternative Energy Portfolio Standards Act.

Powerbank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding one gigawatt, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position Powerbank to deliver reliable, high-impact renewable energy solutions.

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, House Bill 1842 becoming law, 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 future projects no longer being economic.

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 United States. The company develops solar and battery energy storage system (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host off-takers, community solar and virtual net metering projects. The company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.

We seek Safe Harbor.