Mr. Avik Dey reports

CAPITAL POWER ENTERS LONG-TERM ENERGY SUPPLY AGREEMENT WITH META IN ALBERTA

Capital Power Corp. has entered into a long-term (greater than 10 years) energy supply agreement for 250 megawatts of capacity and energy in support of a data centre in Sturgeon county, Alberta, being developed by Meta Platforms Inc. The load from the project is anticipated to be in service in the back half of 2028.

Backed by Capital Power's reliable Alberta power generation fleet, the ESA enhances its contracted profile with a commercial structure designed to provide stable, long-term contracted cash flows. The transaction preserves Capital Power's ability to pursue further commercial optimization in Alberta at its Genesee site. The agreement will support Meta's new data centre, demonstrating the province's ability to attract large-scale digital infrastructure investment and supporting long-term economic growth.

"This agreement is exactly the kind of opportunity we've been preparing for -- AI infrastructure will be built where power is available, reliable and scalable, and, with the support of Capital Power's fleet, Alberta meets the mark. At Capital Power, we are ready to serve customer's growing demand for 24-seven power while creating long-term value for our shareholders," said Avik Dey, president and chief executive officer of Capital Power. "Our Alberta fleet is built for this. We have the dependable, dispatchable generation and operational expertise needed to power large-scale infrastructure projects like Meta's new data centre."

"We're grateful to the government of Alberta and the federal government of Canada for creating an investment environment that makes projects like this possible. It's a great day for Alberta, a great day for Canada, and a strong vote of confidence in Capital Power's ability to help power the next generation of AI and digital infrastructure," added Mr. Dey.

"This agreement is another example of Alberta's plan delivering results. Investments like this create thousands of jobs, generate new revenue that helps pay for the services Albertans rely on and help reduce transmission costs for consumers. That's exactly why our government has worked to make Alberta the best place in North America to invest in AI and digital infrastructure," said Danielle Smith, Premier of Alberta.

The agreement reflects Capital Power's strategy to support growing electricity demand across North America through disciplined investment, operational excellence and strong partnerships with utilities, customers and communities. As demand from industrial growth, electrification and digital infrastructure continues to accelerate, Capital Power is focused on delivering scalable, reliable and balanced energy solutions that support both economic growth and system resilience.

About Capital Power Corp.

Capital Power is one of North America's leading independent power producers, with approximately 12 gigawatts of generation capacity across 35 facilities. Its portfolio includes natural gas, renewables and battery energy storage solutions. it delivers power generation at utility-scale through a flexible and resilient fleet built to meet growing electricity demand. Backed by deep expertise and an investment-grade credit rating, it provides safe, reliable power communities can depend on.

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