Ms. Katherine Perron reports

CAPITAL POWER DECLARES DIVIDENDS FOR ITS COMMON AND PREFERENCE SHARES

The board of directors for Capital Power Corp. has declared a dividend of 61.5 cents per share on the outstanding common shares for the quarter ending June 30, 2024. The dividend is payable on July 31, 2024, to shareholders of record at the close of business on June 28, 2024.

The board of directors also declared the dividends herein on its cumulative rate reset preference shares.

The dividends for the common shares and preference shares are 100 per cent eligible dividends as defined by the Income Tax Act. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits that reduce the income tax otherwise payable on these dividends.

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 region and Metis Nation of Alberta Region 4. Capital Power 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, with approximately 9,300 megawatts of power generation at 32 facilities across North America.