PowerBank's Joint Development Partner Executes First Lease And Is In Development Of 2 MW Modular Data Center In Ohio

PowerBank Corporation (Nasdaq: PBK) (Cboe CA: PBK) (FSE: 103) ("PowerBank" or the "Company"), a leader in independent energy development and asset ownership in North America, is pleased to announce that its joint development partner has executed the first lease and it is in development of a 2 MW modular data center in Ontario (the "Project") under a joint development agreement. The Project is the first of several sites PowerBank plans to develop across Ontario. PowerBank expects to earn revenue by leasing the Project's powered shell to an AI cloud operator, which would install and operate its own GPUs. If a tenant is secured on the terms assumed below, and the Project is permitted, financed, constructed and operational, the Project could generate approximately C$2 million in annual lease revenue, to be shared between PowerBank and its partner under the joint development agreement.