Power Group Approves Equity Incentive Plan

POWER GROUP APPROVES EQUITY INCENTIVE PLAN

January 6, 2025 – Vancouver, BC - Power Group Proje cts Corp. (TSXV: PGP) (the "Company ")

announces that at its Annual General Meeting held on December 27, 2024, the shareholders of the Company

approved the Company’s new Equity Incentive Plan, a s more particularly described in the Information

Circular dated October 28, 2024.

The Company further announces that Mr. Aleem Nathwani has resigned as a director and Chief Executive

Officer of the Company, effective December 31, 2024.

The Company is evaluating a replacement for Mr. Nathwani and the Board would like to express its sincere

gratitude and appreciation to Mr. Nathwani for his invaluable support and contributions to the Company

during his tenure of office.

For further information, please contact:

Scott Hayduk

Director

Tel: (403) 819-9756

Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture

Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Statements in this release may contain forward-looking information. Any statements in this press release that are not statements of

historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as

“may”, “should”, “would”, “anticipate”, “expects”, and similar expressions. The reader is cautioned th at assumptions used in

the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results

to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many

of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking

information. Such information, although considered reasonable by management at the time of preparation , may prove to be

incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press

release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are

made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the

included forward-looking statements, whether as a r esult of new information, future events or otherwis e, except as required by

securities law.