Malahat Nation and Energy Plug Announce Groundbreaking Ceremony for Canada’s First Indigenous-Led Gigafactory Page 1

Vancouver, British Columbia–(Newsfile Corp. – August 28, 2024) – Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) (“Energy Plug” or the “Company”), an innovative energy storage and delivery company, and the Malahat Nation are pleased to announce that the official groundbreaking and groundbreaking ceremony for Canada’s first Indigenous-led gigafactory took place today at the Malahat Business Park in Mill Bay, British Columbia.

With a targeted battery production capacity of 1 gigawatt-hour per year, the facility will produce energy battery storage systems (“BESS”) for residential, commercial, utility and data center markets in North America. The gigafactory will operate under the Malahat Battery Technologies Limited Partnership, a partnership 51% owned by the Malahat Nation and 49% owned by Energy Plug, located on the Malahat Nation’s reserve lands on Vancouver Island. The proposed 56,000 square foot facility will produce a variety of BESS products, addressing critical grid stability and resilience issues.