Legend Power Systems Clarifies December 3rd Press Release

Vancouver, British Columbia--(Newsfile Corp. - December 3, 2024) - Legend Power Systems Inc. (TSXV: LPS) (OTCQB: LPSIF) ("Legend Power" or the "Company"), at the request of CIRO, the company would like to clarify the the press release dated December 3, 2024 entitled "Legend Power Systems Corporate Update". The company retracts "will likely catapult us to over $100 million annual revenue within the next 3-5 years" as it is outside of CIRO guidelines.

Vancouver, B.C., Canada - December 3, 2024 - Legend Power Systems (TSXV: LPS), is excited to provide a detailed update on our progress. This year has been transformative for Legend Power Systems, with tangible wins across five strategic pillars that form the backbone of our growth strategy. Each of these pillars represents a standalone opportunity to drive revenue growth, but together, they form lay a solid foundation for the future of the company.

This shift is underpinned by strong execution, proven solutions, and a growing pipeline of wins and opportunities. The accomplishments we've already achieved demonstrate our ability to deliver, and we are confident that our results are scalable.

Strategic Pillar 1: U.S. General Services Administration (GSA) Green Proving Ground Program

The U.S. GSA Green Proving Ground (GPG) program represents a watershed moment for Legend Power Systems. In 2022, we were selected as one of only eight participants out of more than 800 applicants-a testament to the innovation and impact of our SmartGATE platform. The GPG program was designed to identify and evaluate technologies capable of reducing energy consumption and improving building performance across the GSA's massive portfolio of over 3 billion square feet of facilities ¹.

As part of this program, we are installing two SmartGATE systems: the first at a border facility in December 2024 and the second at a prominent building in the Federal Triangle in Washington, D.C., early in the first quarter of 2025. These installations are critical steps toward developing a broad based deployment plan within the GSA's extensive property portfolio.

The program also includes a pivotal collaboration with Oak Ridge National Laboratory which is developing a comprehensive model to quantify not only energy savings but also the impact of improved power quality on maintenance, repairs, and the lifespan of critical building systems. This model will serve as a template for property owners and operators nationwide, demonstrating how power optimization enhances efficiency, uptime, and long-term building value. We are anticipating this report to be publicly available during calendar 2025 and drive broader tangible models for understanding the impact of improving the quality of power on long term system reliability and lifetime. This will firmly quantify this critical part of the SmartGATE value proposition.