Vancouver - Legend Power Systems Inc. (TSX.V: LPS) (OTCQB: LPSIF) ('Legend Power' or the 'Company'), a global leader in commercial electrical system solutions, today reported its fiscal 2020 financial results for the year ended September 30, 2020.

Financial Highlights for the quarter ending September 30, 2020 (Q4 2020)

Revenue of $347k versus $486k reported in Q4 2019; Gross profit of $66k compared to $(97k) in Q4 2019; Adjusted EBITDA loss of $569k versus a $1.80 million loss in Q4 2019; Net loss of $769k versus the $2.42 million loss in Q4 2019 and Cash of $2.29 million, no debt, and $3.76 million in working capital at September 30, 2020.

Management Quote

'Heading into fiscal 2021, our business activity has increased significantly,' said Randy Buchamer, CEO of Legend Power. 'While 2020 was a challenging year to get units installed, we now are not only seeing strong demand for our SmartGATE Insights service, but also significant SmartGATE platform orders. As we anticipated, our Insights service is providing metrics that our customers and prospects knew about but couldn't quantify. And as they uncover how much they underestimated the high operational costs associated with power quality issues, our customers, prospects, and partners have a heightened sense of urgency. The end result is more frequent and rapid engagements, which shortens our sales cycles and sets up 2021 for strong growth.'

About Legend Power Systems Inc.

Legend Power Systems Inc. (www.legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend Power's proven solutions support proactive executive decision making in a complex and volatile business and energy environment. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend Power's unique solution is also a key contributor to both corporate sustainability efforts and the meeting of utility energy efficiency targets.

Contact:

Steve Vanry

Tel: 1 604 671 9522

Email: svanry@legendpower.com

Forward Looking Statements

This Press Release may contain statements which constitute 'forward looking information', including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words 'may', 'would', 'could', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' and similar expressions, as they relate to the Company, or its management, are intended to identify such forward looking statements. Investors are cautioned that any such forward looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, orshould assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual resultsto differ materially, there may be othersthat cause results to not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward looking statements other than as may be required by applicable law.

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