Mr. Andrew van Doorn report

POWERBANK SECURES 21-MEGAWATT OPERATIONS AND MAINTENANCE AGREEMENT WITH HONEYWELL FOR 3 COMMUNITY SOLAR PROJECTS IN NEW YORK STATE

Powerbank Corp.'s wholly owned subsidiary Abundant Solar Power Inc. has executed an operations and maintenance services agreement with Honeywell International Inc. (Nasdaq: HON) to provide operations and maintenance services for a 21-megawatt portfolio of three projects named SB 13-1, SB 13-2 and SB-14. The projects are built on an industrial brownfield owned by Honeywell, which is regulated by the New York State Department of Environmental Conservation. The projects have been moved from Honeywell International Inc. to Honeywell Aerospace Inc., following the planned spinoff of Honeywell Aerospace on June 29, 2026.

The agreement outlines the roles, responsibilities and performance standards governing the long-term management of the projects. It establishes requirements for routine inspection, maintenance, repair and operational monitoring to ensure the projects function effectively and in compliance with applicable regulations. The agreement also defines reporting obligations, cost responsibilities and co-ordination protocols between the parties, while setting clear expectations for environmental protection, safety and system reliability over the term of the agreement.

Powerbank's president and chief operating officer Andrew van Doorn, commented: "Securing the O and M agreement on the Honeywell portfolio is a natural extension of the work our team has been executing from day one. When you develop, permit, build and commission a project, you know it better than anyone and that knowledge is exactly what makes for reliable long-term operations. This agreement reflects the strength of our full-cycle platform and the trust Honeywell has placed in Powerbank to deliver not just megawatts, but lasting performance."

In September, 2023, the company completed the sale of the projects to Honeywell and entered into an engineering, procurement and construction (EPC) agreement to build the projects through to commercial operation. The agreement follows the announcement of the successful commissioning of the SB 13-2 project.

The agreement for the portfolio of projects with Honeywell demonstrates Powerbank's vertically integrated business model, offering services across development, EPC and operations and maintenance to provide megawatts of power. Having now developed and constructed over 100 megawatts of clean energy projects across North America, with a pipeline exceeding one gigawatt, Powerbank is increasingly well-positioned to serve not only traditional utility and community solar offtakers, but also the rapidly growing demand for reliable, on-site power generation driven by artificial-intelligence compute infrastructure and modular data centers.

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.

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