Pioneer Power Awarded Further Locations by Significant Property Enhancement Retailer – Press Release

FORT LEE, N.J.–(Company Wire)–Pioneer Energy Solutions, Inc. (Nasdaq: PPSI) (“Pioneer Electric power” or the “Corporation”),

FORT LEE, N.J.–(Company Wire)–Pioneer Energy Solutions, Inc. (Nasdaq: PPSI) (“Pioneer Electric power” or the “Corporation”), a firm engaged in the manufacture, sale and provider of electrical transmission, distribution and on-web-site electric power era tools, today introduced that it has been awarded an added group of locations by a single of the premier dwelling enhancement shops in the U.S. as section of the previously introduced company deal for preventative maintenance and repairs at the retailer’s suppliers.

The award represents a 30{5242d1507341b65e72a67dfe6f17392a02243b6f5cad01f035ffe77ce94154f4} expansion of the deal. Pioneer will supply scheduled generator preventative servicing and crisis repair service providers for the retailer’s motor generator devices belongings. The aforementioned contract is anticipated to begin in March, 2021.

Nathan Mazurek, Pioneer’s Chairman and Chief Executive Officer, explained, “In much less than a month since the first contract award, the retailer has observed the added benefits of our supplying, as properly as the benefit of sustainable backup energy at their locations. We have demonstrated the potential of our pro technicians to deliver servicing and restore expert services throughout a wide range of engine companies and versions. We continue on to imagine there are additional enlargement possibilities for us with this retailer, and this enlargement even more bolsters our outlook and backlog for the calendar year.”

About Pioneer Power Answers, Inc.

Pioneer Electricity Solutions, Inc. manufactures, sells and products and services a wide array of specialty electrical transmission, distribution and on-internet site energy generation gear for programs in the utility, industrial, industrial and backup ability marketplaces. The Company’s principal solutions consist of switchgear and motor-generator controls, complemented by a nationwide discipline-service network to maintain and repair electricity generation assets. To find out extra about Pioneer, please take a look at its website at www.pioneerpowersolutions.com.

Secure Harbor Assertion:

This push release has “forward-seeking statements” in the indicating of the Personal Securities Litigation Reform Act of 1995, as amended. These kinds of statements might be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or related terms. Forward-on the lookout statements are not guarantees of upcoming general performance, are based mostly on specific assumptions and are subject matter to many acknowledged and not known dangers and uncertainties, several of which are further than the Company’s control, and are not able to be predicted or quantified and consequently, real benefits may perhaps vary materially from all those expressed or implied by such ahead-looking statements. This sort of risks and uncertainties include, with out limitation, hazards and uncertainties affiliated with (i) the Company’s potential to productively boost its earnings and earnings in the long term, (ii) basic economic ailments and their effect on demand for electrical machines, (iii) the effects of fluctuations in the Company’s running effects, (iv) the fact that lots of of the Company’s rivals are much better founded and have appreciably bigger means than the Corporation, (v) the Company’s dependence on a one purchaser for a substantial portion of its business enterprise, (vi) the prospective decline or departure of essential staff, (vii) unanticipated improves in uncooked content selling prices or disruptions in provide, (viii) the Company’s capacity to know earnings documented in the Company’s backlog, (ix) potential labor disputes, (x) changes in government polices, (xi) the fact that the Company’s chairman, who controls a greater part of the Company’s voting electricity, may develop passions that diverge from yours, (xii) the liquidity and investing quantity of the Company’s frequent inventory and (xiii) an outbreak of disease, epidemic or pandemic, these as the worldwide coronavirus pandemic, or concern of this sort of an party.

More in-depth facts about the Organization and the possibility things that might influence the realization of ahead-hunting statements is established forth in the Company’s filings with the Securities and Exchange Fee, which includes the Company’s Annual and Quarterly Studies on Kind 10-K and Sort 10-Q. Buyers and stability holders are urged to read through these paperwork totally free of cost on the SEC’s web web page at www.sec.gov. The Organization assumes no obligation to publicly update or revise its ahead-hunting statements as a final result of new details, long run situations or if not.

Brett Maas, Managing Spouse

Hayden IR

(646) 536-7331

[email protected]