D. Boral Capital Initiates Coverage of SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2)

• The company’s shift from engineering/construction to asset ownership is central to the company’s long-term revenue growth plan.
• The acquisition of Solar Flow adds 70 contracted solar assets to SolarBank’s portfolio.
• The change in U.S. and Canadian energy policy provides a favorable regulatory environment, and $100 million financing from CIM Group supports 97 MW of U.S.-based solar development.

Disseminated on behalf of SolarBank Corporation

SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., announces that research firm D. Boral Capital has initiated coverage on the company.

These details are provided for information purposes only — SolarBank does not distribute research reports — and investors wishing to receive copies of the reports may contact the research analysts directly: Jesse Sobelson, CFA; jsobelson@dboralcapital.com; (929) 528-0985.

SolarBank, which develops and manages solar photovoltaic and battery storage projects, sells clean electricity to a range of customers including utilities, municipalities, commercial entities, and residential clients. With $190 million in total assets and a diversified pipeline, the company appears well capitalized for its next phase of expansion.

U.S. regulatory changes are also contributing to SolarBank’s momentum. The recently enacted “Big Beautiful Bill” provides full investment tax credits (“ITCs”) for solar and battery energy storage projects that will begin construction before July 4, 2026, and reach commercial operation within four years. This policy change introduces a defined timeline that may spur accelerated development across the sector. CEO Dr. Richard Lu noted that SolarBank has sufficient advanced-stage projects in its U.S. portfolio to begin construction before the ITC deadline.

Moreover, SolarBank recently announced a $100 million project-level financing arrangement with CIM Group. This funding will enable construction across its 97-MW U.S. project portfolio, which is concentrated in states where the company already holds project sites and has completed key permitting and interconnection milestones.

While scaling in the U.S., SolarBank is also maintaining a strong presence in Canada. In Ontario, the company is developing battery storage projects under the IESO’s Long-Term Request for Proposals (“RFP”) program. The initiative offers developers 10-year contracts for clean, dispatchable power, creating longer-term revenue predictability. In Nova Scotia, SolarBank participates in the Community Solar program, where it holds a substantial share of current and pending capacity.

Dr. Lu also pointed to Canadian infrastructure goals under Prime Minister Mark Carney’s recently launched “Build, baby, build” strategy, which emphasizes investments in clean energy, housing, and national infrastructure. “SolarBank benefits from Canada’s support to clean energy and is leading the charge to build Canada as an energy superpower,” he said.

For more information, visit the company’s website at SolarBankCorp.com.

This report contains forward looking information. Please refer to the press release entitled “SolarBank Issues Update on Strategic Positioning Amid Shifting U.S. and Canadian Policy Landscape” for additional details on the statements, risks and assumptions.

NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://ibn.fm/SUUN

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