Mr. Peter Medved reports

GLOBAL POWER SOLUTIONS SIGNS NON-BINDING LOI WITH SOLARZONE ENERGY FOR POTENTIAL DEPLOYMENT OF MODULAR POWER SYSTEMS

Global Power Solutions Corp. has entered into a non-binding letter of intent with Solar Zone LLC, operating as SolarZone Energy, to evaluate the potential deployment of Global Power's proposed five-megawatt modular decentralized power systems across multiple sites in the United States.

The LOI establishes a preliminary framework for Global Power to be evaluated as a prospective technology and equipment vendor for SolarZone's proposed clean energy infrastructure buildout. All deployments contemplated under the LOI are expressly subject to the successful completion, commercial testing and performance validation of the initial pilot plant contemplated under Global Power's previously announced agreement with ModeOne Manpower announced on March 2, 2026.

This LOI is another step forward in the company's March 31, 2026, announced decentralized power development initiative, focused on identifying and evaluating potential deployment opportunities for modular hydrogen-powered energy infrastructure across North America with the ultimate objective of identifying up to 1,000 megawatts of deployment opportunities leading up to commercial testing of the company's proposed modular decentralized power systems.

Pete Medved, president and chief executive officer of Global Power Solutions, commented: "The non-binding LOI with SolarZone provides Global Power with a framework to evaluate becoming a technology and equipment vendor for SolarZone's proposed network of decentralized energy hubs. The opportunity aligns with our strategy of identifying potential commercial applications for modular power systems across North America. Any proposed deployment with SolarZone will be entirely dependent upon the successful completion, commercial testing and validation of the initial pilot plant contemplated under our ModeOne-related technology agreement. The company is keen to continue to identify potential partners to accelerate the deployment of the modular hydrogen reactors once the company has successfully tested a commercially viable closed-loop power system."

Proposed SolarZone applications

Subject to successful pilot plant testing, feasibility studies, financing, permitting and definitive agreements, SolarZone intends to evaluate Global Power's modular systems for applications that may include:

• High-capacity electric vehicle fast-charging infrastructure;
• Integrated hydrogen production for consumer and commercial vehicle fuelling;
• On-site water generation;
• Behind-the-meter, microgrid or off-grid power generation;
• Reliable, scalable power for SolarZone's proposed energy hubs.

The proposed collaboration includes SolarZone's planned Oasis project, envisioned as a next-generation energy hub combining ultrafast EV charging, hydrogen fuelling and decentralized power generation.

Preliminary project framework

The LOI contemplates a phased development approach beginning with technical and commercial feasibility work. Subject to successful results, the parties may establish project-specific special-purpose entities to finance, construct, own and operate individual facilities.

Global Power is expected to lead technology selection, engineering, system integration, financing strategy, equipment procurement and project execution. SolarZone is expected to identify potential sites, provide anticipated power requirements and evaluate becoming the long-term purchaser of electricity generated by each project.

The parties may also negotiate long-term power purchase agreements designed to support project financing and capital recovery. Any such agreement would require separate definitive documentation.

The parties are initially evaluating potential U.S. implementation beginning in 2027, followed by possible Canadian pilot locations in Alberta and Ontario in late 2028. These timelines are preliminary and remain subject to successful completion and commercial validation of the initial pilot plant.

ModeOne pilot plant condition

Global Power previously announced a definitive joint development and licence agreement establishing a framework for the development, construction, demonstration testing and performance validation of an initial modular hydrogen-based pilot power system.

The initial pilot plant is intended to validate system efficiency, reliability, operating performance and technology integration under real-world conditions. The SolarZone LOI does not modify or bypass this development process. All potential SolarZone installations are conditional upon successful completion and commercial validation of the initial pilot plant.

Non-binding nature of the LOI

Any project will require successful pilot plant validation, satisfactory feasibility and engineering results, financing, regulatory approvals, and the negotiation and execution of definitive agreements.

About Global Power Solutions Corp.

Global Power Solutions is expanding its business strategy to become a provider of innovative clean-energy infrastructure designed to support the rapidly growing power requirements of AI (artificial intelligence) data centres and mission-critical facilities. The company is focused on developing hydrogen-enabled baseload power solutions that provide reliable, scalable and sustainable energy where traditional grid infrastructure is constrained or unavailable. In addition, Global Power Solutions continues its established operations in the manufacture of light gauge steel components and modular building systems for the construction industry.

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