Legend Power Systems Continues to Grow Bookings, Pipeline and Partners

Vancouver, British Columbia–(Newsfile Corp. – February 14, 2023) – Legend Power® Systems (TSXV: LPS), a global leader in commercial Active Power Management solutions, confirms that SmartGATE bookings continue to grow, and new partnerships are expanding. This includes several smaller initial system purchases as well as follow-on, double digit SmartGATE orders. Additionally, Legend confirms that it is currently assessing a new pipeline representing over 75 million square feet of facilities – a total opportunity potentially worth hundreds of SmartGATEs.

To target SmartGATE sales, Legend Power has expanded beyond its ESCO, distributor and reseller channels, adding leading electrical service and installation providers entrusted with running the electrical distribution systems for hundreds of facilities. Of these new partners, Legend estimates that 2 have the potential to sell over one hundred systems annually to their existing customers over the coming years.

“While our single digit SmartGATE orders remain robust, double digit system transactions are increasing as customers and partners realize the benefits of Active Power Management across their building portfolios,” said Mike Cioce, Vice President of Sales and Marketing for Legend Power Systems. “One senior executive reported a 15% ROI but said more importantly that their buildings just run better and that’s better for tenants and employees alike. The customer was so pleased with SmartGATE that they purchased 10 more SmartGATE units. Combining our direct and expanded channel sales efforts, Legend Power’s pipeline continues to grow quarter after quarter.”

About SmartGATE

SmartGATE is an industry-leading, turnkey solution which identifies and fixes underperformance and waste in the electrical system of a commercial building. These performance issues often impact key areas of commercial real estate metrics including occupant safety and satisfaction as well as financial performance. This waste can also lead to higher operating costs, lower net operating income and other potential financial risks to the building owner, including adverse tenant experiences.

About Legend Power® Systems Inc.

Legend Power® Systems Inc. (www.legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend’s proven solutions support proactive executive decision-making in a complex and volatile business and energy environment.

For further information, please contact:

Jonathan Lansky, Director
+1 416 417 7664

Sean Peasgood, Investor Relations
+ 1 647 503 1054

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results to not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154724

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