$13.68 Million USD Successfully Raised by PowerBank in At-The-Market Equity Offering

Press Release

PowerBank Strengthens Balance Sheet with Additional Liquidity to Support Development Pipeline and Growth as Independent Power Producer

Toronto, Ontario, February 3, 2026 — PowerBank Corporation (NASDAQ: SUUN; Cboe CA: SUNN, FSE: 103) (“PowerBank” or the “Company“), a leader in North American energy infrastructure development and asset ownership, is pleased to announce that is has raised gross proceeds of $13.68 million USD through the offering of common shares (“Shares”) under its previously announced “at the market” (“ATM”) offering program pursuant to a prospectus supplement dated June 5, 2025 to its short form base shelf prospectus dated May 7, 2025.

Through the ATM, PowerBank has sold 7,738,625 Shares for gross proceeds of approximately $13.68 million USD. The net proceeds raised have been or will be deployed to support the development of the Company’s expanding portfolio of renewable energy projects, to strengthen its position as an independent power producer, for investor relations expenditures, for ongoing operations and for working capital requirements.

Dr. Richard Lu, President & CEO Commented, “This successful capital raise helps support PowerBank’s growth trajectory and strategic vision. The proceeds provide us with financing that has helped and will help advance our robust development pipeline, focused on solar and battery energy storage, while strengthening our balance sheet. As we expand our owned asset portfolio and establish ourselves as a growing independent power producer, we remain committed to delivering value to our shareholders while advancing the clean energy transition. As of September 30, 2025 PowerBank has approximately $138 million in assets.”

With a development pipeline exceeding one gigawatt and a track record of successfully developing over 100 megawatts of renewable energy capacity, PowerBank continues to build on its momentum in the distributed and community solar sectors across key North American markets.

About PowerBank Corporation

PowerBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA. 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.

To learn more about PowerBank, please visit www.powerbankcorp.com.

For further information, please contact:

PowerBank Corporation

Tracy Zheng

Email: tracy.zheng@powerbankcorp.com

Phone: 416.494.9559

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