The Toronto Stock Exchange reports that Innergex Renewable Energy Inc. common shareholders and Series A preferred shareholders, at a meeting held on May 1, 2025, respectively approved a proposed plan of arrangement, pursuant to which Caisse de depot and placement du Quebec will acquire all of the company's issued and outstanding: (i) common shares of the company, for a price of $13.75 in cash per common share; and (ii) cumulative redeemable fixed rate preferred shares, Series C, for a price of $25 in cash per Series C preferred share (plus all accrued and unpaid dividends as of the effective date); and (iii) cumulative rate reset preferred shares, Series A, for a price of $25 in cash per Series A preferred share (in addition to: (a) a cash amount per Series A preferred share equal to all accrued and unpaid dividends as of the effective date of the arrangement; and (b) a cash amount per Series A preferred share equal to the dividends that would have been payable in respect of a Series A preferred share from (and including) the effective date to (and excluding) Jan. 15, 2026).

According to the TSX, the effective date of the arrangement is currently anticipated to be on or about July 21, 2025. Trades on July 18, 2025, will settle on the same day.

The convertible debentures of the company will be repaid in full upon completion of the arrangement. Holders of convertible debentures will be entitled to receive, for each $1,000 principal amount of convertible debentures issued and outstanding, a cash amount equal to $1,000 plus accrued and unpaid interest to (but not including) the effective date of the arrangement at the interest rate set forth in the applicable trust indenture, less any applicable withholdings. The TSX will issue a further bulletin regarding the delisting of the common shares, preferred shares and convertible debentures upon completion of the arrangement.

The TSX notes that the convertible debentures will commence trading at the opening of markets on July 21, 2025, on an interest-flat basis. TSX will not report accrued interest regarding any trades made on an interest-flat basis to participating organizations. Interest flat trading is being implemented to ensure accurate calculation of the interest to be paid upon completion of the arrangement.

For more information, see the company's management information circular dated March 21, 2025, and the company's news release dated July 16, 2025, available on SEDAR+.