January 30, 2023

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Pioneer Ability Awarded More Places by Big Property Enhancement Retailer

Pioneer Energy Methods, Inc. (Nasdaq: PPSI) (“Pioneer Power” or the “Company”), a firm engaged in the manufacture, sale and services of electrical transmission, distribution and on-web-site energy technology equipment, right now declared that it has been awarded an further team of destinations by one particular of the major residence advancement vendors in the U.S. as aspect of the earlier announced services contract for preventative servicing and repairs at the retailer’s retailers.

The award represents a 30% enlargement of the agreement. Pioneer will present scheduled generator preventative routine maintenance and unexpected emergency maintenance products and services for the retailer’s engine generator gear property. The aforementioned deal is predicted to start off in March, 2021.

Nathan Mazurek, Pioneer’s Chairman and Main Govt Officer, mentioned, “In a lot less than a thirty day period because the initial contract award, the retailer has witnessed the added benefits of our giving, as well as the value of sustainable backup ability at their spots. We have shown the means of our qualified specialists to give upkeep and repair service services across a wide variety of motor companies and types. We proceed to believe that there are additional growth alternatives for us with this retailer, and this growth even more bolsters our outlook and backlog for the year.”

About Pioneer Energy Solutions, Inc.

Pioneer Ability Answers, Inc. manufactures, sells and providers a broad array of specialty electrical transmission, distribution and on-web-site electrical power technology tools for applications in the utility, industrial, professional and backup electricity markets. The Company’s principal merchandise include switchgear and engine-generator controls, complemented by a national area-support network to sustain and repair service electrical power generation assets. To understand extra about Pioneer, you should stop by its web-site at www.pioneerpowersolutions.com.

Protected Harbor Assertion:

This push launch has “forward-hunting statements” within just the that means of the Personal Securities Litigation Reform Act of 1995, as amended. These statements may possibly be preceded by the words and phrases “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar text. Forward-hunting statements are not ensures of future performance, are primarily based on specified assumptions and are subject matter to different identified and unfamiliar hazards and uncertainties, many of which are further than the Company’s manage, and can not be predicted or quantified and for that reason, true success may vary materially from those expressed or implied by these forward-on the lookout statements. This kind of challenges and uncertainties consist of, without limitation, dangers and uncertainties connected with (i) the Company’s capability to efficiently increase its profits and gain in the foreseeable future, (ii) normal financial situations and their result on demand for electrical products, (iii) the outcomes of fluctuations in the Company’s operating final results, (iv) the fact that lots of of the Company’s competitors are much better set up and have appreciably better methods than the Company, (v) the Company’s dependence on a single buyer for a huge part of its company, (vi) the opportunity loss or departure of vital personnel, (vii) unanticipated improves in uncooked material selling prices or disruptions in provide, (viii) the Company’s ability to know revenue documented in the Company’s backlog, (ix) future labor disputes, (x) changes in federal government regulations, (xi) the fact that the Company’s chairman, who controls a the greater part of the Company’s voting energy, may well acquire passions that diverge from yours, (xii) the liquidity and buying and selling volume of the Company’s frequent inventory and (xiii) an outbreak of ailment, epidemic or pandemic, such as the international coronavirus pandemic, or anxiety of these kinds of an event.

A lot more thorough data about the Corporation and the risk components that might have an affect on the realization of ahead-looking statements is set forth in the Company’s filings with the Securities and Trade Fee, including the Company’s Yearly and Quarterly Experiences on Kind 10-K and Type 10-Q. Investors and safety holders are urged to browse these paperwork cost-free of cost on the SEC’s internet web page at www.sec.gov. The Enterprise assumes no obligation to publicly update or revise its ahead-searching statements as a final result of new information and facts, long run occasions or usually.

Contacts

Brett Maas, Managing Husband or wife

Hayden IR

(646) 536-7331

brett@haydenir.com