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St. Albert, Alberta--(Newsfile Corp. - August 13, 2026) - Evolution PowerX Corp. (TSX: E) (OTCQB: ETOLF) (the "Company" or "Evolution"). Evolution, a Canadian leading provider of site power systems, turbine electrification and infrastructure services to, is pleased to announce its Q2 2026 results.

(1) Identified and defined under "Non-IFRS Measures".

• The quarterly results were highlighted by record setting second quarter revenue, marking four consecutive quarters of increased growth in both revenue and adjusted EBITDA.

• Three-month results show a revenue increase of 36% to $8.8 million and an adjusted EBITDA increase of 164% to $2.1 million. Six-month results show a revenue increase of 24% to $20.8 million and an adjusted EBITDA increase of 45% to $7.5 million.

• Activity levels in 2026 continue to outpace the prior year due to sustained strong growth in the Alberta market and the successful deployment of Canada's first drilling operation powered by multiple synchronized natural gas/fuel gas turbine generators.

• Increases in customer demand and scale of projects support the Company's expansion of its natural gas turbine fleet including the addition of a 3.2-megawatt unit.

During the six months ended June 30, 2026, Evolution PowerX Corp. repurchased and cancelled 1,246,400 of its outstanding common shares at an average purchase price of $1.27 per share. Management feels the share price is not reflective of the true value of the Company and will continue to support its share price when reasonable to do so. As such, on April 2, 2026, the Company renewed its normal course issuer bid.

On August 4, 2026, Enterprise Group, Inc. announced that it has changed its name to "Evolution PowerX Corp." as approved at the annual and special meeting of shareholders held on June 25, 2026. The corporate name change reflects the Company's ongoing strategic evolution and the changing composition of its business, steadily expanding beyond its traditional energy services foundation, and building a comprehensive power solutions platform to service customers across the energy, industrial, commercial, and emerging infrastructure sectors.

Activity levels in 2026 continue to outpace the prior year due to sustained strong growth in the Alberta market. Revenue for the three months ended June 30, 2026, was $8,827,510 compared to $6,485,914 in the prior period, an increase of $2,341,596 or 36%. Gross margin for the three months ended June 30, 2026, was $2,998,879 compared to $1,645,511 in the prior period, an increase of $1,353,368. Adjusted EBITDA for the three months ended June 30, 2026, was $2,111,817 compared to $799,425 in the prior period, an increase of $1,312,392 or 164%.

Revenue for the six months ended June 30, 2026, was $20,830,365 compared to $16,813,999 in the prior period, an increase of $4,016,366 or 24%. Gross margin for the six months ended June 30, 2026, was $9,093,637 compared to $6,820,853 in the prior period, an increase of $2,272,784. Adjusted EBITDA for the six months ended June 30, 2026, was $7,539,110 compared to $5,215,280 in the prior period, an increase of $2,323,830 or 45%.

On July 22, 2026, the Company announced the acquisition of a new SPG4 3.2-megawatt natural gas turbine generator to add to the growing fleet of its natural gas turbine generators. The SPG4 expands both the scale and capability of our natural gas power fleet, filling a need with a proven, mission-critical platform capable of powering everything from drilling rigs and production facilities to industrial operations and next-generation AI data centers. The Company views this initial deployment as the first step in developing a broader fleet of larger-capacity natural gas turbine solutions to complement Evolution Power's existing microturbine platform and expects the unit to be commercially available for customer projects during the fourth quarter of 2026.

About Evolution PowerX Corp.
Evolution PowerX Corp. is a Canadian power solutions and specialized infrastructure company delivering reliable, scalable and lower-emission energy solutions to industrial and commercial customers. Through its growing portfolio of natural gas turbine generation, mobile and semi-permanent power systems, microgrid integration and complementary site infrastructure, Evolution provides flexible Concept-to-Completion solutions engineered around customers' operating requirements. Building on more than two decades of experience supporting some of Canada's largest energy and resource companies, Evolution is expanding its capabilities beyond traditional energy services into broader power markets. Further information is available at the Company's website www.evolutionpowerx.com Corporate filings can be found on www.sedarplus.ca.

Forward-Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR+ website www.sedarplus.ca) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

Non-IFRS Measures
The Company uses International Financial Reporting Standards ("IFRS"). Adjusted EBITDA is not a measure that has any standardized meaning prescribed by IFRS and is therefore referred to as a non-IFRS measure. This news release contains references to adjusted EBITDA. This non-IFRS measure used by the Company may not be comparable to a similar measure used by other companies. Management believes that in addition to net income, adjusted EBITDA is a useful supplemental measure as it provides an indication of the results generated by the Company's principal business activities prior to consideration of how those activities are financed or how the results are taxed. Adjusted EBITDA is calculated as net income excluding depreciation, amortization, interest, taxes and stock based compensation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309427