Mr. Marc Murnaghan reports

POLARIS RENEWABLE ENERGY DECLARES QUARTERLY DIVIDEND

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

This dividend will be paid on May 24, 2024, to shareholders of record at the close of business on May 13, 2024. The dividend is an eligible dividend, as designated for Canadian federal, provincial and territorial income tax purposes.

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

"Since the commencement of a dividend policy in 2016, we now have a track record of 33 consecutive dividends," said Polaris chief executive officer Marc Murnaghan. "Growing the business and diversifying, while continuing to return capital to shareholders, will continue to be the model going forward."

About Polaris Renewable Energy Inc.

Polaris Renewable Energy is a publicly traded Canadian company engaged in the acquisition, development and operation of renewable-energy projects in Latin America. Polaris Renewable Energy 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 (82 megawatts), three run-of-river hydroelectric plants (33 megawatts) and three solar (photovoltaic) projects in operation (35 megawatts).

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