Mr. Michel Letellier reports

THE 100 MW COMMUNITY WIND PROJECT OF INNERGEX, THE RCM OF LOTBINIERE AND THE ABENAKI COUNCILS OF ODANAK AND WOLINAK SELECTED BY HYDRO-QUEBEC

Innergex Renewable Energy Inc., the Regional County Municipality of Lotbiniere (RCM of Lotbiniere), and the Abenaki Councils of Odanak and Wolinak have noted that their 100-megawatt wind project has been selected in Hydro-Quebec's request for proposals.

Highlights:

• Partnership between Innergex (50 per cent), the RCM of Lotbiniere (45 per cent), the Abenaki Council of Odanak (2.5 per cent) and the Abenaki Council of Wolinak (2.5 per cent);
• Community and indigenous partnership valued by Innergex to support its growth in Canada while promoting local participation in economic benefits;
• Continuous cash flow for 30 years, indexed to inflation.

"The project's selection following the call for tenders reflects our team's success in developing competitive projects and collaborating with local players to support Hydro-Quebec's ambitions," said Michel Letellier, president and chief executive officer of Innergex. "We are proud to continue our diversification in collaboration with the RCM of Lotbiniere and the Abenaki Councils of Odanak and Wolinak. Innergex's strength in forging lasting partnerships with local and indigenous communities represents a competitive advantage and has been an essential component of our success in Canada since 1990. We are counting on our attributes as a partner of choice to contribute to the growth of renewable energy in our target markets and to implement projects that will benefit the communities."

"We are delighted that our territory has been given the green light by Hydro-Quebec," said Daniel Turcotte, Prefect of the RCM of Lotbiniere. "The RCM of Lotbiniere will benefit in many ways from the fruits of this regional project, particularly in terms of completing major development projects for our region. Social acceptability and the protection of agricultural land and activities are very important for our region, which is why, as a community partner alongside the company Innergex and the Abenaki Councils of Odanak and Wolinak, we will ensure that the project, at all stages, is economically, environmentally and socially acceptable. We remain attentive to the community's concerns."

"This wind project represents much more than a renewable energy source for the W8banaki Nation; it symbolizes our commitment to energy self-sufficiency and sustainable economic development," said Rick O'Bomsawin, Chief of the Abenaki Council of Odanak. "Job creation, the involvement of regional businesses and our partnership with Innergex reinforce our position as responsible stewards of the Ndakina, our territory, contributing to an energy future that respects our heritage and ensures the prosperity of our future generations."

"The selection of our wind project by Hydro-Quebec is a great success for the W8banaki Nation," said Michel R. Bernard, Chief of the Abenaki Council of Wolinak. "Beyond providing clean energy, this project will create new long-term, quality employment opportunities for the people of our community. What's more, our collaboration with Innergex and the RCM of Lotbiniere reflects our shared vision of a sustainable energy future, placing the W8banaki Nation at the heart of this transition."

Scheduled for commercial operation in late 2028, the power purchase agreement with Hydro-Quebec (S&P credit rating: AA minus) is expected to be structured as a 30-year take-or-pay contract, indexed to a predefined percentage of the consumer price index (CPI). Once commissioned, the project will generate enough electricity to power the equivalent of 20,000 households.

Construction of the MRC Lotbiniere wind project will require the creation of around 200 jobs and will involve the participation of local and regional businesses. Long-term, permanent, skilled jobs will also be created during the operating period.

Interconnection and collector system costs will be reimbursed by Hydro-Quebec when the facility is commissioned.

The project is subject to the execution of contracts with Hydro-Quebec and suppliers and to the successful completion of permit application processes and regulatory requirements.

About Innergex Renewable Energy Inc.

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada's best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer that develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world. Innergex conducts operations in Canada, the United States, France and Chile and manages a large portfolio of high-quality assets currently consisting of interests in 86 operating facilities with an aggregate net installed capacity of 3,579 megawatts (gross 4,226 megawatts) and an energy storage capacity of 409 megawatt-hours, including 40 hydroelectric facilities, 35 wind facilities, nine solar facilities and two battery energy storage facilities. Innergex also holds interests in 12 projects under development with a net installed capacity of 747 megawatts (gross 849 megawatts) and an energy storage capacity of 355 megawatt-hours, four of which are under construction, as well as prospective projects at different stages of development with an aggregate gross installed capacity totalling 9,939 megawatts. Its approach to building shareholder value is to generate sustainable cash flows, provide an attractive risk-adjusted return on invested capital and distribute a stable dividend.

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