Mr. Roy Arthur reports

CAPITAL POWER TO RELEASE FOURTH QUARTER 2023 RESULTS AND 2023 INTEGRATED ANNUAL REPORT ON FEBRUARY 28

Capital Power Corp. will release its fourth quarter and year-end 2023 results, and 2023 integrated annual report (IAR) before the markets open on Feb. 28, 2024.

Capital Power's IAR will include its year-end financial information, environmental, social and governance reporting, a Global Reporting Initiative index, a Sustainability Accounting Standards Board index, and disclosures in accordance with the Task Force on Climate-related Financial Disclosures.

Analyst conference call and webcast

Management will host a conference call with analysts on the same day at 9 a.m. MT (11 a.m. ET) to discuss its fourth quarter and year-end operating and financial results:

• Webcast: access on-line;
• Conference call: Details will be sent directly to analysts;
• An archive of the webcast will be made available following the conclusion of the analyst conference call.

Territorial acknowledgment

In the spirit of reconciliation, Capital Power respectfully acknowledges that it operates within the ancestral homelands, traditional and treaty territories of the indigenous peoples of Turtle Island, or North America. Capital Power's head office is located within the traditional and contemporary home of many indigenous peoples of the Treaty 6 Territory and Metis Nation of Alberta Region 4. The company acknowledges the diverse indigenous communities that are located in these areas and whose presence continues to enrich the community.

About Capital Power Corp.

Capital Power is a growth-oriented power producer committed to net-zero by 2045. The company's balanced approach to the energy transition prioritizes reliable, affordable and decarbonized power that communities across North America can depend on.

Capital Power owns approximately 7,700 megawatts (MW) of power generation capacity at 30 facilities across North America. Projects under construction include approximately 140 MW of renewable generation capacity and 512 MW of incremental natural gas combined cycle capacity from the repowering of Genesee 1 and 2 in Alberta, as well as approximately 350 MW of natural gas and battery energy storage systems in Ontario, and approximately 70 MW of solar capacity in North Carolina in advanced development.