Mr. Marc Blanchet reports

H2O INNOVATION ANNOUNCES ELECTION OF BOARD OF DIRECTORS

H2O Innovation Inc. held yesterday, on Tuesday, Nov. 11, 2014, its annual and special meeting of shareholders at its headquarters in Quebec City, Canada.

Shareholders re-elected the following directors to the company's board of directors: Philippe Gervais, chairman of the board, Frederic Dugre, president and chief executive officer, Pierre Cote, Laurence E. Gamst, Lisa Henthorne, Richard Hoel, Elaine C. Phenix and Jean-Real Poirier. The shareholders also elected a new board member, Peter K. Dorrins. Among these nine directors, eight are external directors and independent.

During the meeting, shareholders appointed Deloitte LLP as auditor of the company for the fiscal year ending June 30, 2015.

Lastly, the shareholders approved, by special resolution, the consolidation of the company's common shares, as proposed in the management proxy circular dated Sept. 26, 2014. Such share consolidation will be effective later.