An anonymous director reports

FIERA INFRASTRUCTURE PRIVATE DEBT CLOSES PROJECT FINANCING AGREEMENT WITH PINE CREEK RENEWABLES

Fiera Infrastructure Private Debt, a division of Fiera Private Debt Inc., a subsidiary of Fiera Capital Corp., has closed a senior secured credit facility to Pine Creek Renewables, the developer, owner and operator of a growing portfolio of renewable natural gas (RNG) projects. The facility will support the construction and operation of three RNG projects, which have all secured offtake contracts.

Fiera Infrastructure Private Debt led the investment, partnering alongside Foundation Credit, who also invested in the facility for its infrastructure debt strategy, Foundation Infrastructure Opportunities.

The proceeds will support the construction and operation of three RNG projects located at two landfills and one anerobic digestor, located in the western United States. As the waste at these sites decomposes, it naturally produces methane, a greenhouse gas. The Pine Creek projects will capture the methane and covert it to pipeline-quality natural gas. In addition to producing gas, the projects will generate environmental attributes.

About Fiera Infrastructure Private Debt

Fiera Infrastructure Private Debt is a division of Fiera Private Debt, which is a subsidiary of Fiera Capital. Fiera Infrastructure Private Debt directly sources and structures private debt investments across a diverse mix of North American infrastructure sectors. Led by a team of experienced and specialized infrastructure debt professionals, Fiera Infrastructure Private Debt's differentiated approach targets an attractive mid-market niche to help optimize cash yield, and the defensive attributes inherent to both private credit and infrastructure investments. As of June 30, 2023, Fiera Infrastructure Private Debt had $760-million ($570-million (U.S.)) in assets under management.

About Fiera Capital Corp.

Fiera Capital is a leading independent asset management firm with a growing global presence and approximately $164.2-billion in assets under management as of June 30, 2023. The company delivers customized and multiasset solutions across public and private market asset classes to institutional, financial intermediary and private wealth clients across North America, Europe and key markets in Asia. Fiera Capital's depth of expertise, diversified investment platform and commitment to delivering outstanding service are core to its mission of being at the forefront of investment management science to create sustainable wealth for clients.

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