CPX Capital Power Corporation

Capital Power Corporation (TSX: CPX) (“Capital Power” or “the Company”) is pleased to announce that the Genesee Generating Station is now 100% natural gas-fueled, resulting in the facility being off coal over 5 years ahead of the Alberta government mandate.

As part of the Genesee Repowering project, the facility completed simple cycle commissioning for Unit 1 on May 3, simple cycle testing is underway on Unit 2, and Unit 3 has transitioned to natural gas. The project continues to progress with combined cycle completion expected in Q4 2024, which will result in 512 MW of additional net high efficiency, low heat rate capacity from the site.

“Capital Power is immensely proud to cease coal-fired operations at our Genesee Generating Station and deliver up to 3.4 million tonnes of annual emissions reductions through our Genesee Repowering project,” said Jason Comandante, SVP, Head of Canada for Capital Power. “This achievement marks a significant moment in history for this legacy, baseload facility that has delivered reliable and affordable power to Alberta for more than 30 years. Our investment in this facility will result in the most efficient natural gas combined cycle plant in Canada – a feat that significantly reduces emissions while delivering more megawatts of reliable, affordable and clean capacity for our province.”

Territorial Acknowledgement

In the spirit of reconciliation, Capital Power respectfully acknowledges that we operate within the ancestral homelands, traditional and treaty territories of the Indigenous Peoples of Turtle Island, or North America. Capital Power’s head office is located within the traditional and contemporary home of many Indigenous Peoples of the Treaty 6 region and Métis Nation of Alberta Region 4. We acknowledge the diverse Indigenous communities that are located in these areas and whose presence continues to enrich the community.

About Capital Power

Capital Power is a growth-oriented power producer committed to net zero by 2045, with approximately 9,300 MW of power generation at 32 facilities across North America. We prioritize delivering reliable and affordable power communities can depend on today, building clean power systems needed for tomorrow, and creating balanced solutions for our energy future. We are Powering Change by Changing PowerTM.

For more information, please contact:

Media Relations:        Katherine Perron(780) 392-5335        kperron@capitalpower.com

Investor Relations:        Roy Arthur(403) 736-3315        investor@capitalpower.com