Mr. Michel Letellier reports

LA CAISSE COMPLETES ACQUISITION OF INNERGEX

Innergex Renewable Energy Inc. has completed its previously announced acquisition by La Caisse by way of a plan of arrangement under the provisions of the Canada Business Corporations Act.

Pursuant to the terms of the arrangement, La Caisse has acquired all of the issued and outstanding common shares of Innergex (other than those held by La Caisse and certain members of senior management rolling over (the rollover shareholders)) for a price of $13.75 per common share in cash. All of the issued and outstanding preferred shares Series A and Series C of Innergex were also acquired by La Caisse for $25.00 per preferred share in cash (plus all accrued and unpaid dividends and, in the case of the Series A preferred shares, an amount in cash per Series A preferred share equal to the dividends that would have been payable in respect of such share until Jan. 15, 2026, which is the next available redemption date). All of the outstanding 4.65-per-cent subordinated unsecured convertible debentures of Innergex have been repaid in full upon completion of the arrangement, including as to principal and accrued and unpaid interest thereon.

As previously announced, La Caisse has syndicated approximately 20 per cent of its invested capital to bring in like-minded investors who share its vision for the next chapter of Innergex's growth.

As part of the arrangement, certain members of senior management of Innergex, including Michel Letellier, Innergex's president and chief executive officer, and Jean Trudel, Innergex's chief financial officer, have rolled over a portion of their common shares and reinvested in the privatized Innergex.

La Caisse has caused to be delivered to Computershare Investor Services Inc., the depositary for the arrangement, sufficient funds to enable it to make payments to Innergex shareholders (other than the rollover shareholders) pursuant to the terms of the arrangement. In accordance with the arrangement, payment will be made by Computershare to Innergex shareholders (other than the rollover shareholders) as soon as practicable following the date hereof.

Letters of transmittal have been mailed to registered shareholders and are also available under the profile of Innergex at SEDAR+. The letters of transmittal explain how registered shareholders can deposit and obtain payment for their shares. Registered shareholders must return their duly completed letters of transmittal to Computershare in order to receive the consideration to which they are entitled for their shares.

As a result of the completion of the arrangement, it is expected that the common shares, preferred shares Series A and Series C and the 4.65 per cent subordinated unsecured convertible debentures of Innergex will be delisted from the Toronto Stock Exchange on or about July 22, 2025. Innergex has applied to cease to be a reporting issuer under the securities legislation of each province of Canada where Innergex is currently a reporting issuer.

About Innergex Renewable Energy Inc.

For 35 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity. As an independent renewable power producer which 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 92 operating facilities with an aggregate net installed capacity of 3,948 megawatts (gross 4,901 MW), including 42 hydroelectric facilities, 36 wind facilities, 10 solar facilities and four battery energy storage facilities. Innergex also holds interests in 16 projects under development with a net installed capacity of 915 MW (gross 1,537 MW), five of which are under construction, as well as prospective projects at different stages of development with an aggregate gross installed capacity totalling 10,288 MW. Its approach to building shareholder value is to generate sustainable cash flows and provide an attractive risk-adjusted return on invested capital.

We seek Safe Harbor.