Mr. Colin Jackson reports

CANADIAN UTILITIES LIMITED ELIGIBLE DIVIDENDS

Canadian Utilities Ltd.'s board of directors today declared a first quarter dividend of 45.31 cents per Class A non-voting (TSX: CU) and Class B common share (TSX: CU.X), a 1-per-cent increase over the 44.86 cents paid in each of the four previous quarters. This common share dividend is payable March 1, 2024, to shareholders of record on Feb. 1, 2024.

The board of directors of Canadian Utilities also declared cumulative redeemable second preferred share dividends.

These dividends are eligible dividends within the meaning of the Income Tax Act (Canada).

About Canadian Utilities Ltd.

Canadian Utilities and its subsidiary and affiliate companies have approximately 8,000 employees and assets of $23-billion. Canadian Utilities, an Atco company, is a diversified global energy infrastructure corporation delivering essential services and innovative business solutions in utilities (electricity and natural gas transmission and distribution, and international operations); energy infrastructure (energy storage, energy generation, industrial water solutions and clean fuels); and retail energy (electricity and natural gas retail sales, and whole-home solutions).

We seek Safe Harbor.