Pacific Green Signs Commitment Agreement With ZEN Energy for BESS Offtake in Australia for 1.5GWh

Sydney / 5 August, 2025 / Pacific Green is pleased to announce that its battery energy storage business in Australia has entered into a commitment agreement with ZEN Energy (“ZEN”) for 10-year tolling arrangements across three Battery Energy Storage System (BESS) projects located in Victoria, New South Wales, and Queensland totaling 1.5GWh of storage capacity. This milestone marks a pivotal step in Pacific Green’s transition to its next phase of growth, significantly accelerating the route to market for its Australian project portfolio of 7GWh.

Scott Poulter, Pacific Green’s Group CEO, commented: “Following our initial offtake agreement of 500MWh for Limestone Coast North in South Australia, we are delighted to enter into a strategic framework for a further 1.5GWh. This framework agreement helps Pacific Green underwrite a significant part of the our portfolio of developments in Victoria, New South Wales and Queensland, and enables Pacific Green to industrialize its project development processes.”

Anthony Garnaut, CEO of ZEN, stated: “ZEN and Pacific Green share a strategy that has storage at its heart. This next stage of ZEN’s deepening partnership with Pacific Green enables us to support our growing book of sustainability-driven commercial and industrial customers, as well as smooth the volatility inherent in the energy transition, as we meet the 24/7 requirements of our customers.”

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the continued development of Limestone Coast North BESS project, any potential business developments and future interest in the Company’s battery, solar and emissions control technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the continuation of the development of Limestone Coast North project, general economic and political conditions, and the ongoing impact of the COVID-19 pandemic. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in the Company’s annual report on Form 10-K for the most recent fiscal year, the Company’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.