e-Boost to Ensure Charged EVs are Delivered Quickly to Consumers

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer," "Pioneer Power" or the "Company"), a leader in the design, manufacture, service and integration of electrical power systems, distributed energy resources, power generation equipment and mobile electric vehicle ("EV") charging solutions, today announced that it has agreed to provide two of its new 400 Kw, propane-powered mobile charging e-Boost systems to Heliox Energy, a leader in smart energy management solutions supporting the e-mobility transition. The e-Boost systems will be deployed at the Port of Benicia in California to fast charge VinFast EVs imported from overseas manufacturing facilities before they are delivered directly to consumers. VinFast, a member of Vingroup, is a state-of-the-art EV automotive manufacturing business. Vingroup is a Vietnamese conglomerate with annual revenues of approximately $4.8 billion.

"We continue to identify and service a broader base of use-cases for our e-Boost initiative, a anytime/anywhere EV charging solution, which demonstrates that we are meeting a previously unmet need, particularly with EV manufacturers," commented Nathan Mazurek, Pioneer's Chairman and Chief Executive Officer. "EVs arriving from overseas need to be recharged after they disembark from shipping vessels, and the current ports lack an EV charging infrastructure to meet this demand. Our rapid charging e-Boost systems expedite this process, helping VinFast get EVs to eager consumers faster. Increasingly, EV manufacturers and retailers, providers of EV charging infrastructure and high-traffic event and consumer spaces are recognizing the value of flexible, adaptable EV charging solutions like our suite of e-Boost products, and we expect additional applications of this technology. As EV demand continues to outpace the EV charging infrastructure, we expect to address additional use cases."

Pioneer Power expects to deliver both 400 Kw e-Boost systems to VinFast before the end of the first quarter of 2023.

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, refurbishment, service and distribution of electric power systems, distributed energy resources, power generation equipment and mobile EV charging solutions for applications in the utility, industrial and commercial markets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.

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