Ms. Megan Hunter reports

CAPSTONE INFRASTRUCTURE CORPORATION REPORTS RESULTS OF EXERCISE OF CONVERSION RIGHTS FOR CUMULATIVE 5-YEAR RATE RESET PREFERRED SHARES, SERIES A

None of Capstone Infrastructure Corp.'s cumulative five-year rate reset preferred shares, Series A, will be converted into cumulative floating rate preferred shares, Series B.

On June 10, 2026, Capstone notified holders of Series A shares that they could elect to convert their Series A shares into Series B shares, subject to the terms and conditions of those shares. One such condition is that, following conversion, there be at least one million Series B shares outstanding or else no Series A shares will be converted.

As of 5 p.m. Toronto time on July 15, 2026, the end of the period during which holders of Series A shares could elect to convert their Series A shares into Series B shares, elections for conversion into Series B shares were received in respect of only 2,430 of the three million outstanding Series A shares. As a result, the above condition is not satisfied and no Series A shares will be converted into Series B shares. All holders of Series A shares will continue to hold Series A shares.

As previously announced, for the five-year period from and including July 31, 2026, to but excluding July 31, 2031, the fixed annual dividend rate for the Series A shares has been set at 5.788 per cent per share, payable in equal quarterly amounts on the last day of each of the months of January, April, July and October if, as and when dividends are declared by the board of directors of the corporation.

About Capstone Infrastructure Corp.

Capstone is generating a low-carbon future, driving the energy transition forward through creative thinking, strong partnerships, and a commitment to quality and integrity in how it does business. A developer, owner and operator of clean and renewable energy projects across North America, Capstone's portfolio includes an approximately 1.1-gigawatt gross installed capacity across 36 facilities, including wind, solar, hydro, biomass and natural gas power plants.

We seek Safe Harbor.