Mr. Ross Beaty, an investor, reports

ROSS J. BEATY: NEWS RELEASE

Ross J. Beaty, of Suite 1550, 625 Howe St., Vancouver, B.C., V6C 2T6, on Oct. 26, 2016, acquired ownership of 2,682,000 common shares of Alterra Power Corp., at a purchase price of $6 per common share for an aggregate purchase price of $16,092,000. Mr. Beaty acquired ownership through a private placement transaction previously announced by Alterra on Oct. 5, 2016, and upsized on Oct. 6, 2016. Alterra also completed on Oct. 26, 2016, a separate bought-deal short form prospectus offering previously announced by Alterra on Oct. 5, 2016, and upsized on Oct. 6, 2016. Mr. Beaty did not participate in the brokered offering.

Prior to the acquisition, Mr. Beaty beneficially owned, directly or indirectly, or exercised control or direction over, 15,104,559 common shares. The 15,104,559 common shares represented approximately 32.18 per cent of the total number of issued and outstanding common shares prior to the private placement and the brokered offering.

After the completion of the private placement, Mr. Beaty now beneficially owns, directly or indirectly, or exercises control or direction over, 17,786,559 common shares. The 17,786,559 common shares represent approximately 30.53 per cent of the total number of issued and outstanding common shares, resulting in a decrease by 1.65 per cent to Mr. Beaty's common shareholdings after the completion of the private placement and the brokered offering.

Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Alterra for investment purposes.