iPower Inks Five-Year Non-Binding Letter Of Intent With Undisclosed Client For AI Computing Equipment; Client Identifies Initial Fleet Of 48 Units At Proposed Rate Of $4,608 Per Month Or Up To $21.9M On Annually For Five Years

iPower Inc. (Nasdaq: IPW) ("iPower" or the "Company") today announced that its wholly owned subsidiary, iPower AI LLC, has received a customer-signed, non-binding letter of intent for a five-year AI equipment services and management relationship. The proposed engagement marks a step forward in iPower’s transformation into an AI infrastructure and services company.

The customer has identified an initial fleet of 48 AI computing equipment units and expects to expand to approximately 396 units in total during 2027. At the proposed fee of $4,608 per unit per month, assuming the full build out, the target fleet would represent up to approximately $1.82 million in monthly service fees, or up to $21.90 million on an annualized basis for five years. The initial 48 units would represent approximately $2.65 million in annualized fees, or $13.27 million if all 48 remain billable for the full 60-month cooperation period.