An anonymous director reports

POLARIS RENEWABLE ENERGY DECLARES QUARTERLY DIVIDEND

Polaris Renewable Energy Inc.'s board of directors has declared a quarterly dividend of 15 U.S. cents per common share outstanding.

This dividend will be paid on Nov. 24, 2023, to shareholders of record at the close of business on Nov. 13, 2023. The dividend is an eligible dividend as designated for Canadian federal, provincial and territorial income tax purposes.

The board of directors of Polaris Renewable Energy remains committed to paying a quarterly dividend and will evaluate further dividend increases, as appropriate, going forward.

About Polaris Renewable Energy Inc.

Polaris Renewable Energy (formerly, Polaris Infrastructure Inc.) is a Canadian publicly traded company engaged in the acquisition, development and operation of renewable energy projects in Latin America. The company is a high-performing and financially sound contributor in the energy transition.

The company's operations are in five Latin American countries and include a geothermal plant (about 72 megawatts (MW)), four run-of-river hydroelectric plants (39 MW) and three solar (photovoltaic) projects in operation (35 MW).

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