Mr. Richard Lu reports

POWERBANK POSITIONS AI COMPUTE, MODULAR DATA CENTERS, AND ENERGY INFRASTRUCTURE AS A CORE STRATEGIC GROWTH VERTICAL ALONGSIDE SOLAR AND BATTERY ENERGY STORAGE

Powerbank Corp. has expanded its strategic focus into AI (artificial intelligence) compute infrastructure and modular data centre development, positioning the company to participate in one of the largest infrastructure buildouts of the modern era.

As artificial intelligence, cloud computing, machine learning and high performance computing continue to accelerate globally, the demand for electricity is rising at an unprecedented pace. Hyperscale AI data centres are expected to become some of the largest consumers of power in modern history, fundamentally reshaping global electricity markets and creating significant strain on power grids across North America and around the world.

Powerbank believes this transformation represents a generational opportunity at the convergence of energy infrastructure and digital infrastructure.

The company's established expertise in developing, owning, and operating solar and battery energy storage systems, combined with its growing portfolio of grid-connected infrastructure projects across North America, positions Powerbank to help provide one of the most critical resources required by the AI economy: scalable, reliable and rapidly deployable power generation.

Industry leaders continue to highlight the AI (artificial intelligence) power demand opportunity

Some of the world's largest technology companies have recently emphasized the growing relationship between artificial intelligence and energy infrastructure.

Executives from Nvidia have publicly stated that AI factories and accelerated computing infrastructure will require massive new power capacity globally. Microsoft has identified energy availability as one of the key constraints in scaling future AI infrastructure deployments, while Amazon and Meta continue to invest billions of dollars into hyperscale data centre expansion to support next-generation AI workloads and cloud computing growth.

Industry forecasts project that global data centre electricity consumption could increase dramatically over the coming decade as hyperscale operators race to deploy next-generation AI compute infrastructure.

Large AI training clusters, cloud platforms and high-density compute campuses require enormous amounts of continuous electricity, with many projects demanding power capacity comparable to small cities. At the same time, grid congestion, interconnection delays, aging transmission infrastructure and limited power availability are increasingly becoming bottlenecks for digital infrastructure deployment.

Powerbank believes access to power will become one of the defining competitive advantages of the AI era.

Powerbank is pursuing data centres and AI compute as a strategic vertical

Powerbank is planning to add AI compute infrastructure and modular data centres as a key strategic pillar of focus for the company.

The company intends to pursue opportunities involving:

• Modular and containerized data centres;
• AI compute infrastructure;
• Energy solutions for data centres;
• Behind-the-meter power generation;
• Battery-supported compute operations;
• Co-location opportunities with existing solar and BESS assets

Powerbank believes the convergence of energy infrastructure and AI compute represents one of the largest long-term investment opportunities in the global market today.

The company's vertically integrated platform, including site acquisition, permitting, grid interconnection, engineering, development, construction management, battery integration and long-term asset ownership, provides a strong foundation to support the rapidly evolving needs of hyperscale operators and digital infrastructure developers.

With decades of combined experience across the Powerbank leadership and development teams in renewable energy, power infrastructure, project development, utility interconnections, and battery storage systems, the company believes it is uniquely positioned to participate in this next era of infrastructure deployment.

Strategic LOI with Nodiac Corp.

As part of this initiative, Powerbank previously announced a letter of intent (LOI) with Nodiac Corp., a company focused on modular and containerized data centre deployment solutions.

The LOI establishes a framework for potential collaboration between the companies to evaluate the deployment of modular data centre infrastructure at select Powerbank energy sites across North America.

The partnership reflects Powerbank's broader vision of creating integrated energy and compute ecosystems capable of delivering scalable power solutions for AI and digital operations.

Any future deployment projects would be subject to definitive agreements, permitting, technical assessments and financing arrangements, discussed further below.

Positioned for the next era of infrastructure

Powerbank believes the global economy is entering a new phase where electricity generation, battery storage and AI infrastructure are becoming increasingly interconnected.

As governments, technology companies, cloud providers and enterprise operators invest hundreds of billions of dollars into artificial intelligence infrastructure, demand for scalable power deployment solutions is expected to accelerate significantly.

With an existing North American development pipeline exceeding one gigawatt, Powerbank believes it is strategically positioned to help support the growing energy requirements of the digital economy.

"Artificial intelligence is creating one of the largest infrastructure transformations the world has seen in generations," said Richard Lu, chief executive officer of Powerbank. "Every major technology company in the world is now competing for AI compute capacity, and the reality is simple, none of it works without power. We believe electricity and energy infrastructure are rapidly becoming some of the most valuable strategic assets of the AI economy."

Dr. Lu continued: "Powerbank has spent years building expertise in renewable energy development, battery storage, grid infrastructure and long-term power asset ownership across North America. We believe that experience gives us a strong foundation to participate in this next wave of digital infrastructure growth. This is not a short-term opportunity. We believe this is the beginning of a multidecade infrastructure cycle, and Powerbank intends to be an active participant in helping build the energy backbone required to support the next generation of artificial intelligence, cloud computing and digital operations."

The company also announces that its ticker symbol on the Nasdaq will change from SUUN to PBK, and on the Cboe Canada Exchange will change from SUNN to PBK, effective at the open of trading on Wednesday, June 3, 2026. The company's common stock will continue to be listed on Nasdaq and Cboe Canada Exchange, and its Cusip number will remain unchanged.

The ticker symbol change is intended to better reflect the company's strategic evolution as a provider of power solutions for today's digital economy.

The LOI is not a definitive agreement. Nodiac and Powerbank will collaborate on deploying modular data centres at suitable sites within Powerbank's portfolio, with definitive agreements to be negotiated on a site-by-site basis. The construction of any modular data centre is subject to conclusion of a definitive agreement, receipt of required permits, technical feasibility and financing arrangements being in place.

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. As AI (artificial intelligence) and digital infrastructure drive unprecedented electricity demand, Powerbank is uniquely positioned to deliver the speed, scale and energy independence that the next generation of power consumers requires, without waiting years for grid interconnection. The company has a potential development pipeline of over one gigawatt and has developed energy projects with a combined capacity of over 100 megawatts built.

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