Data Center Expert Jonathan Martone Retained bySolarBank Corporation to Power Strategic Expansion

Press Release

TORONTO, ON April 9, 2025 — SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) (“SolarBank” or the “Company”) is pleased to announce that it has retained Martone Advisors LLC and its principal, Jonathan Martone, as an advisor to the Company on its previously disclosed planned expansion into the data center market. Mr. Martone has held various leadership roles in the data center and telecommunications industries for over 25 years. Throughout his career, Martone has been instrumental in building vibrant data center ecosystems, leading teams of strong and competent technical sales engineers, and executing product strategy, business development, and network design/planning initiatives.

Dr. Richard Lu commented: “I am honoured that Jonathan Martone has agreed to join SolarBank as an advisor. An industry leader like Jonathan will bring significant value to SolarBank as he will help support SolarBank’s strategic expansion into the rapidly growing data center market. Jonathan has significant contacts and is one of the leaders in North America in understanding site selection and the components to ensure a successful operation. The growth of data-hungry artificial intelligence deployments continues, and SolarBank is seeking to help support this demand.”

SolarBank announced in November 2024 that it is strategically expanding into the rapidly growing data center market. Since that time, it has been evaluating a pipeline of potential data center opportunities. Mr. Martone will provide significant assistance in this process in terms of evaluating various potential opportunities and introducing new ones.

Mr. Martone works with private equity firms and data center operators to identify new sites and support their site selection. The process includes land, power, utility, and interconnection work. He assists to ensure the utility has the proper grid power, leverages new energy sources and technology for additional power, identifies medium and high voltage systems, ensures transformers are available, and makes recommendations on interconnection fabric that enables hyperscale, enterprise, and SLED deployments. Martone has personally planned hundreds of build-to-suit and multi-tenant designs over the last 20 years.

Mr. Martone has an extensive client list, including EdgeConneX, Overwatch Capital LLC, Form8tion Data Centers, Confluence Networks LLC and PBI Fider. His specialties include data centers, metro fiber, long haul fiber, dark fiber, IP transit, cloud connectivity, AWS local zone, DX node, AWS outpost, Google Cloud Interconnect, Microsoft Azure, SDN, NAAS, and designing large complex deals across multiple product sets.

There are several risks associated with the development of any data center. While SolarBank is expanding into the data center industry, it does not currently have any data center projects under development or that it has secured rights to. It is in discussions with various other parties regarding potential data center opportunities and will provide details in a future news release if an agreement to acquire or develop a data center is concluded. The development of any data center project is subject to identification of a suitable project site, receipt of required permits, entry into contracts for construction and the use of the data center, the availability of third-party financing arrangements for the Company and the risks associated with the construction of a data center. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for renewable energy, which could result in future projects no longer being economic. Please refer to “Forward-Looking Statements” for additional discussion of the assumptions and risk factors associated with the projects and statements made in this press release.

About SolarBank Corporation

SolarBank 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, Battery Energy Storage System (BESS) and EV Charging 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 SolarBank, please visit www.solarbankcorp.com.

For further information, please contact:

SolarBank Corporation
Tracy Zheng
Email: tracy.zheng@solarbankcorp.com
Phone: 416.494.9559

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