Pioneer Signs Landmark Agreement to Drive International Expansion of e-Boost

Strategic United Arab Emirates Partnership Aims to Generate Recurring Revenue While Accelerating Mobile Electric Vehicle Charging Deployment in Rapidly Growing Middle East Market

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) (“Pioneer” or the “Company”), a leader in the design, manufacture, service and integration of distributed energy resources, power generation equipment and mobile electric vehicle (“EV”) charging solutions, today announced that Pioneer eMobility, its e-Boost business unit, has signed a Memorandum of Understanding (“MOU”) with Savvy Charging Technologies, Ltd (“Savvy” or “Savvy Charging”), an established and strategically positioned EV charging operator in the United Arab Emirates (“UAE”). This landmark agreement launches e-Boost’s new international franchise model and represents a major step forward in its global expansion into high growth international markets.

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e-Boost G.O.A.T. for Savvy Charging Pilot Features a 40kW Level 3 Fast Charger

“As we discussed in our last earnings call just a few weeks ago, we are moving aggressively to capitalize on global fleet electrification and unlock new potential revenue streams,” said Nathan Mazurek, Chairman and CEO of Pioneer. “Our franchise model combines our e-Boost technology and proven operational playbooks with Savvy’s deep local market expertise and distribution capabilities. This partnership is designed to create a robust, fully compliant entry into the Middle East while generating recurring franchise revenue and other revenue-sharing opportunities beginning in 2026, positioning Pioneer for sustained success in a rapidly expanding market.”

The MOU establishes the framework for Savvy Charging to serve as a strategic partner and franchisee in the UAE. Savvy Charging holds vital local permits from authorities such as DEWA (Dubai Electricity & Water Authority) and established relationships across government, utilities, transportation and large fleet operators. The partnership will initially focus on localizing the e-Boost product line to meet accelerating fleet electrification mandates in the region. A core element of the MOU is the transfer of e-Boost’s technology to a Pioneer- and Savvy-designated manufacturing partner in a low-cost in-country or near-country zone, ensuring full compliance with UAE standards, lowering costs and leveraging Savvy’s deep local market expertise and supply chain capabilities.

The initial phase of the partnership focuses on the delivery of a paid pilot unit: the e-Boost G.O.A.T., a fully mobile e-Boost system integrated with a rugged Ford F-350 chassis. The pilot unit is scheduled for build and delivery in the first quarter of 2026. Upon receipt, Savvy Charging will conduct in-market compliance testing and demonstrate the system to fleet operators, showcasing e-Boost G.O.A.T.’s full capabilities, features and functionality. Savvy will also begin securing orders for additional e-Boost units, which are expected to be manufactured locally under a technology transfer agreement. This franchise model is expected to begin generating recurring revenue for Pioneer beginning in 2026 with the pilot, with additional revenue anticipated in 2027 from the rollout of the locally manufactured units and the scaling of Savvy Charging’s operations.

The UAE represents a critical first international market for e-Boost due to government mandates requiring 30% of all fleets to be electric by 2030, complemented by initiatives like Dubai Rapid Transit Authority’s 30% EV target. These policies are driving demand among large organizations such as the Dubai Taxi Corporation (DTC), which operates approximately 4,000 vehicles, and private fleet operators like Al Khurair (KABI). Savvy Charging’s mobile-Charging-as-a-Service (mC-a-a-S) model, similar to successful models like SparkCharge, Inc. in the U.S., facilitates rapid fleet scaling and positions e-Boost for high market penetration.

“Partnering with e-Boost allows us to introduce proven, cutting-edge mobile EV charging technology to the UAE market,” commented Muhammad Jamal, CEO of Savvy Charging. “Savvy Charging is built on rapid scaling and innovation, and the e-Boost technology aligns perfectly with our charging as a service approach. Our local market access, deep utility relationships and Emirati ownership enable us to navigate mandates and incentives and deliver a comprehensive, scalable solution that accelerates EV adoption across government and private fleets. As a proud partner of e-Boost, we are committed to building a reliable, accessible and comprehensive mobile EV charging ecosystem that supports UAE’s vision for a greener, more connected future.”

“The UAE is not just a market; it is a global blueprint for sustainable urban development and the clean energy transition,” added Geo Murickan, President of Pioneer eMobility. “Our e-Boost technology bypasses the delays of traditional fixed infrastructure, making it ideal for supporting the UAE’s Net Zero 2050 goals and Smart City initiatives. Partnering with a dynamic, locally embedded partner like Savvy Charging should allow for us to scale quickly and efficiently to meet immediate business and fleet needs.”

Pioneer and Savvy Charging plan to host a formal signing event at a major electrification trade show in the UAE in January 2026 to officially launch the partnership.

About Pioneer Power Solutions, Inc.

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

e-Boost is Pioneer’s portfolio of smart, mobile EV charging solutions that is revolutionizing the industry with its speed, flexibility, and sustainability. Since its launch in November 2021, e-Boost has established itself as the market leader, delivering mobile, off-grid charging solutions with unparalleled lead times and an extensive range of platforms. Trusted by electric bus and truck manufacturers, fleet management companies, municipalities, and EV infrastructure providers, e-Boost is setting the standard for innovative, all-inclusive EV charging solutions. To learn more about Pioneer's e-Boost, please visit its website at www.pioneer-emobility.com.

About Savvy Charging Technologies

Savvy Charging Technologies, Ltd is an Emirati company pioneering in the electric vehicle charging space. With a focus on innovation and sustainability, Savvy offers unique off-grid, on-demand charging solutions that enable rapid charging without the need for specialized infrastructure. Founded in 2023 by Emirati entrepreneurs with extensive energy sector experience, Savvy is headquartered in Masdar City, the sustainability hub of UAE and serving all major UAE markets. To learn more about Savvy Charging, please visit its website at https://savvy.energy/

Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the federal securities laws. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company’s ability to successfully deliver and build the e-Boost G.O.A.T. within the expected timeframe, (ii) the expected revenues as a result of the partnership with Savvy, (iii) Savvy’s ability to obtain and maintain any requirement permits from authorities, (iv) the Company’s ability to successfully operate its business after the divestiture of its E-Bloc business, (v) the Company’s ability to successfully increase its revenue and profit in the future, (vi) general economic conditions and their effect on demand for electrical equipment, (vii) the effects of fluctuations in the Company’s operating results, (viii) the fact that many of the Company’s competitors are better established and have significantly greater resources than the Company, (ix) the Company’s dependence on two customers for a large portion of its business, (x) the potential loss or departure of key personnel, (xi) unanticipated increases in raw material prices or disruptions in supply, (xii) the Company’s ability to realize revenue reported in the Company’s backlog, (xiii) future labor disputes, (xiv) changes in government regulations, (xv) the liquidity and trading volume of the Company’s common stock, (xvi) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event, (xvii) risks associated with litigation and claims, which could impact our financial results and condition, and (xviii) the Company’s ability to maintain compliance with the continued listing requirements of the Nasdaq Capital Market.

More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s Annual and Quarterly Reports on Form 10-K and Form 10-Q, respectively. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

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