<SEC-DOCUMENT>0001140361-21-035652.txt : 20211027
<SEC-HEADER>0001140361-21-035652.hdr.sgml : 20211027
<ACCEPTANCE-DATETIME>20211027161955
ACCESSION NUMBER:		0001140361-21-035652
CONFORMED SUBMISSION TYPE:	F-10/A
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20211027
DATE AS OF CHANGE:		20211027

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALGONQUIN POWER & UTILITIES CORP.
		CENTRAL INDEX KEY:			0001174169
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-10/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-260501
		FILM NUMBER:		211353032

	BUSINESS ADDRESS:	
		STREET 1:		354 DAVIS ROAD
		CITY:			OAKVILLE
		STATE:			A6
		ZIP:			L6J2X1
		BUSINESS PHONE:		0000000000

	MAIL ADDRESS:	
		STREET 1:		354 DAVIS ROAD
		CITY:			OAKVILLE
		STATE:			A6
		ZIP:			L6J2X1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALGONQUIN POWER INCOME FUND
		DATE OF NAME CHANGE:	20020523
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-10/A
<SEQUENCE>1
<FILENAME>ny20001090x7_f10a.htm
<DESCRIPTION>FORM F-10/A
<TEXT>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 540pt;"><a name="ny20001090x7_f10a_100-regcov_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 540pt; margin-left: 0pt;"> <div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 25pt; text-align: center;">As filed with the Securities and Exchange Commission on October&#160;27, 2021</div> <div class="regno" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 1pt; text-align: right;">Registration No. 333-260501 </div> </div></div><div class="block-frill" style="width: 540pt; margin-left: 0pt;"><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 2pt solid #000000; margin-top: 1pt; margin-bottom: 1pt; margin-left: auto; margin-right: auto;"> </div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 4pt;"> </div></div></div><div class="block-main" style="width: 540pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 11pt; font-weight: bold; margin-top: 7.25pt; text-align: center;">UNITED STATES<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 11pt; font-weight: bold; margin-top: 0pt; text-align: center;">SECURITIES AND EXCHANGE COMMISSION<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 11pt; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-size: 10pt;">Washington, D.C. 20549</font></div><div><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 2.75pt;"> </div></div> <div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 3.5pt; text-align: center;">Amendment No. 1 <br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">to <br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-size: 13pt;">FORM F-10</font><br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</div> <div><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 2.75pt;"> </div></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 3.5pt; text-align: center;">ALGONQUIN POWER &amp; UTILITIES CORP.<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-size: 9.6pt; font-style: italic; font-weight: normal;">(Exact name of Registrant as specified in its charter)</font></div><div><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 2.75pt;"> </div></div><table cellspacing="0" cellpadding="0" class="txttab" style="margin-top: 4pt; border-collapse: collapse; width: 540pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 31.85%; text-align: center; vertical-align: top; padding-top: 6pt; padding-bottom: 2pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">Ontario, Canada </div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 2pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 2pt;">&#8203;</td><td style="width: 31.85%; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-bottom: 2pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">4911 </div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 2pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 2pt;">&#8203;</td><td style="width: 31.85%; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-bottom: 2pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">Not Applicable </div></td></tr><tr><td style="width: 31.85%; text-align: center; vertical-align: top; padding-top: 2pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-style: italic; margin-top: 0pt; text-align: center;">(Province or other jurisdiction of <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-style: italic; margin-top: 0pt; text-align: center;">incorporation or organization)</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 2pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 2pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 31.85%; text-align: center; vertical-align: top; padding-top: 2pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-style: italic; margin-top: 0pt; text-align: center;">(Primary Standard Industrial <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-style: italic; margin-top: 0pt; text-align: center;">Classification Code Number)</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 2pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 2pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 31.85%; text-align: center; vertical-align: top; padding-top: 2pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-style: italic; margin-top: 0pt; text-align: center;">(I.R.S. Employer Identification Number, <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-style: italic; margin-top: 0pt; text-align: center;">if any)</div></td></tr></table><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">354 Davis Road<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">Oakville, Ontario, Canada L6J 2X1<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">(905) 465-4500<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-style: italic; font-weight: normal;">(Address and telephone number of Registrant&#8217;s principal executive offices)</font></div><div><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 2.75pt;"> </div></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 4pt; text-align: center;">CT Corporation System<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">111 Eighth Avenue, New York, NY 10011<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">(212) 590 9070<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-style: italic; font-weight: normal;">(Name, address (including zip code) and telephone number (including area code) of agent for service in the United States)</font></div><div><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 2.75pt;"> </div></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-style: italic; font-weight: bold; margin-top: 2pt; text-align: center;">Copies to:</div><table cellspacing="0" cellpadding="0" class="txttab" style="margin-top: 4pt; border-collapse: collapse; width: 540pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 48.89%; text-align: center; vertical-align: top; padding-top: 6pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">Arthur Kacprzak <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">Chief Financial Officer <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">354 Davis Road <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">Oakville, Ontario, Canada <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">L6J 2X1 <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">(905) 465-4500</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 48.89%; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">John T. Gaffney, Esq. <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">Eric M. Scarazzo, Esq. <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">Gibson, Dunn &amp; Crutcher LLP <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">200 Park Avenue <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">New York, New York, United States <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">10166-0193 <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 0pt; text-align: center;">(212) 351-4000</div></td></tr></table><div><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-top: 1pt; margin-bottom: 2pt; margin-left: auto; margin-right: auto;"> </div></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 2pt; text-align: center;">Approximate date of commencement of proposed sale of the securities to the public:</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9pt; font-weight: bold; margin-top: 2pt; text-align: center;">From time to time after this Registration Statement is declared effective, as determined by market conditions.<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9pt; font-weight: bold; margin-top: 2pt; text-align: center;">Province of Ontario, Canada<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9pt; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-style: italic; font-weight: normal;">(Principal jurisdiction regulating this offering)</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 2pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">It is proposed that this filing shall become effective (check appropriate box):</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 2pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">A.&#8195;<font style="font-size: 1pt;">&#8201;</font>&#x2610;&#8195;Upon filing with the Commission, pursuant to Rule 467(a) (if in connection with an offering being made contemporaneously in the United States and Canada).</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 2pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">B.&#8195;&#x2612;&#8195;At some future date (check the appropriate box below):</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 2pt; margin-left: 20pt; text-indent: 20pt; text-align: left;">1.&#8195;<font style="font-size: 1pt;">&#8201;</font>&#x2610;&#8195;pursuant to Rule 467(b) on ( ) at ( ) (designate a time not sooner than 7 calendar days after filing).</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 2pt; margin-left: 20pt; text-indent: 20pt; text-align: justify;">2.&#8195;<font style="font-size: 1pt;">&#8201;</font>&#x2610;&#8195;pursuant to Rule 467(b) on ( ) at ( ) (designate a time 7 calendar days or sooner after filing) because the securities regulatory authority in the review jurisdiction has issued a receipt or notification of clearance on (&#8195;).</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 2pt; margin-left: 20pt; text-indent: 20pt; text-align: justify;">3.&#8195;<font style="font-size: 1pt;">&#8201;</font>&#x2610;&#8195;pursuant to Rule 467(b) as soon as practicable after notification of the Commission by the Registrant or the Canadian securities regulatory authority of the review jurisdiction that a receipt or notification of clearance has been issued with respect hereto.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 2pt; margin-left: 20pt; text-indent: 20pt; text-align: left;">4.&#8195;&#x2612;&#8195;after the filing of the next amendment to this Form (if preliminary material is being filed).</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 2pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to the home jurisdiction&#8217;s shelf prospectus offering procedures, check the following box. <font style="font-size: 1pt;">&#8201;</font>&#x2610;</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 4pt; text-align: center;">CALCULATION OF REGISTRATION FEE</div><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 1pt;"> </div></div> <table cellspacing="0" cellpadding="0" class="regtab" style="margin-top: 4pt; border-collapse: collapse; width: 540pt; margin-left: auto; margin-right: auto; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;"><tr class="header"><td style="width: 33.33%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Title of Each Class of <br></div><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Securities to be Registered</div></td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;">&#8203;</td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;">&#8203;</td><td style="width: 15.56%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Amount to be <br></div><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Registered</div></td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;">&#8203;</td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;">&#8203;</td><td style="width: 15.56%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Proposed Maximum <br></div><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Offering Price <br></div><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Per Unit<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div></td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;">&#8203;</td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;">&#8203;</td><td style="width: 15.56%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Proposed Maximum <br></div><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Aggregate <br></div><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Offering Price<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div></td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;">&#8203;</td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;">&#8203;</td><td style="width: 15.56%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 3.25pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Amount of <br></div><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Registration Fee<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div></td></tr><tr><td style="width: 33.33%; text-align: left; vertical-align: bottom; padding-top: 3.25pt; padding-bottom: 3pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Common Shares<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup><br></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 3.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 3.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.56%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3.25pt; padding-bottom: 3pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 0pt; margin-left: 33.74pt; text-align: left;">N/A</div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 3.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 3.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.56%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3.25pt; padding-bottom: 3pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 0pt; margin-left: 33.74pt; text-align: left;">N/A</div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 3.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 3.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.56%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3.25pt; padding-bottom: 3pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 0pt; margin-left: 9.61pt; text-align: left;">US$743,408,318.40</div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 3.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 3.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.56%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3.25pt; padding-bottom: 3pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; margin-top: 0pt; margin-left: 20.41pt; text-align: left;">US$68,914.00</div></td></tr></table> <div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 3pt;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 2pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(1)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">Calculated pursuant to Rule 457(o) under the Securities Act of 1933, as amended. Based upon a proposed maximum offering price of Cdn$920,059,800 at an exchange rate of US$0.8080 per Cdn$1.00 as reported on October 26, 2021 by the Bank of Canada.</div></td></tr></table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 2pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(2)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">Of the total registration fee, $60,255 was paid with the filing of the original registration statement on October 26, 2021.</div></td></tr></table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 2pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(3)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">Includes associated Common Share purchase rights. The rights are attached to, and trade with, the Common Shares. The value attributable to the rights, if any, is reflected in the market price of the Common Shares. An indeterminate number of Common Shares is being registered as from time to time may be issued at indeterminate prices. Includes Common Shares which may be purchased by underwriters to cover over-allotments, if any. </div></td></tr></table> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 9.6pt; font-weight: bold; margin-top: 2pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Registrant hereby amends this Registration Statement on Form F-10 (this &#8220;Registration Statement&#8221;) on such date or dates as may be necessary to delay its effective date until the Registration Statement shall become effective as provided in Rule 467 under the Securities Act or on such date as the U.S. Securities and Exchange Commission (the &#8220;Commission&#8221;), acting pursuant to Section&#160;8(a) of the Securities Act, may determine.</div></div><div class="block-frill" style="width: 540pt; margin-top: 12pt; margin-left: 0pt;"><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-top: 1pt; margin-bottom: 1pt; margin-left: auto; margin-right: auto;"> </div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 2pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 4pt;"> </div></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_200-part1_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">PART I </div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 13pt; text-align: center;">INFORMATION REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS </div> <div class="fpara" style="color: #FC0014; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-align: justify;">A copy of this amended and restated preliminary short form prospectus has been filed with the securities regulatory authorities in each of the provinces of Canada but has not yet become final for the purposes of the sale of securities. Information contained in this amended and restated preliminary prospectus may not be complete and may have to be amended. The securities may not be sold until a receipt for the final short form prospectus is obtained from the securities regulatory authorities.</div> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-style: italic; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-align: left;">No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise.</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-style: italic; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-align: justify;">Information has been incorporated by reference in this short form prospectus from documents filed with securities commissions or similar authorities in Canada. <font style="font-weight: normal;">Copies of the documents incorporated herein by reference may be obtained on request without charge from </font><font style="font-weight: normal;">the Vice President, Investor Relations of the Corporation (as defined herein) at 354 Davis Road, Oakville, Ontario, L6J 2X1, </font><font style="font-weight: normal;">email:&#160;InvestorRelations@APUCorp.com, telephone (905) 465-4500, and are also available electronically at www.sedar.com.</font></div> <div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12pt; text-align: center;">AMENDED AND RESTATED PRELIMINARY SHORT FORM PROSPECTUS AMENDING AND RESTATING THE PRELIMINARY SHORT FORM PROSPECTUS DATED OCTOBER 26, 2021</div> <table cellspacing="0" cellpadding="0" class="txttab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 48.72%; text-align: left; vertical-align: top; padding-top: 6pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 0pt; margin-left: 0pt; text-align: left;"><u>New Issue</u></div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 48.72%; text-align: right; vertical-align: bottom; padding-top: 6pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: right;">October 27, 2021</div></td></tr></table> <div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">ALGONQUIN POWER &amp; UTILITIES CORP.</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 13.75pt; text-align: center;"><img style="height: 53px; width: 188px;" src="logo_algonquinv2.jpg"><br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201;</div> <div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 14pt; text-align: center;">$800,052,000<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">&#8195;<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">44,080,000 Common Shares</div> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">Algonquin Power &amp; Utilities Corp. (the &#8220;<font style="font-weight: bold;">Corporation</font>&#8221; or &#8220;<font style="font-weight: bold;">Algonquin</font>&#8221;) is hereby qualifying the distribution (the&#160;&#8220;<font style="font-weight: bold;">Offering</font>&#8221;) of 44,080,000 common shares of the Corporation (&#8220;<font style="font-weight: bold;">Common Shares</font>&#8221;) at a price of $18.15 per Common Share (the &#8220;<font style="font-weight: bold;">Public Offering </font><font style="font-weight: bold;">Price</font>&#8221;). The Public Offering Price was determined by negotiation between Algonquin and CIBC World Markets Inc. and Scotia Capital Inc. (the &#8220;<font style="font-weight: bold;">Lead Underwriters</font>&#8221;), on their own behalf and on behalf of BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., Morgan Stanley Canada Limited, Desjardins Securities Inc., iA Private Wealth Inc., Raymond James Ltd., J.P. Morgan Securities Canada Inc., Merrill Lynch Canada Inc., Wells Fargo Securities Canada, Ltd. and HSBC Securities (Canada) Inc. (collectively, together with the Lead Underwriters, the &#8220;<font style="font-weight: bold;">Underwriters</font>&#8221;). See &#8220;<font style="font-style: italic;">Plan of Distribution.</font>&#8221; The closing of the Offering is expected to occur on or about November 8, 2021, or such later date(s) as the Corporation and the Underwriters may agree (the &#8220;<font style="font-weight: bold;">Closing Date</font>&#8221;). </div> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">This Offering is being made concurrently in Canada under the terms of this short form prospectus (the &#8220;<font style="font-weight: bold;">Prospectus</font>&#8221;) and in the United States (the &#8220;<font style="font-weight: bold;">U.S.</font>&#8221;) under the terms of the Corporation&#8217;s registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission (the &#8220;<font style="font-weight: bold;">SEC</font>&#8221;).</div> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">The Corporation&#8217;s outstanding Common Shares are listed on the Toronto Stock Exchange (&#8220;<font style="font-weight: bold;">TSX</font>&#8221;) and the New York Stock Exchange (&#8220;<font style="font-weight: bold;">NYSE</font>&#8221;) under the symbol &#8220;AQN&#8221;. On October 26, 2021, the last closing prices of the Common Shares prior to the date hereof were $18.61 per Common Share on the TSX and U.S.$15.04 per Common Share on the NYSE. The Corporation has applied to the TSX and the NYSE to list the Common Shares to be issued under this Prospectus. Listing of such Common Shares on the TSX and the NYSE will be subject to the Corporation fulfilling all of the listing requirements of the TSX and the NYSE, as applicable. There can be no assurance that such Common Shares will be accepted for listing on the TSX or the NYSE, as the case may be. </div> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">The Common Shares qualified by this Prospectus are being offered in Canada and the United States by the Underwriters either directly or through their respective Canadian or U.S. broker dealer affiliates or agents, as applicable.</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">The Underwriters, as principals, conditionally offer the Common Shares, subject to prior sale, if, as and when issued and sold by the Corporation and accepted by the Underwriters in accordance with the conditions contained in the Underwriting Agreement (as defined in this Prospectus) referred to under &#8220;<font style="font-style: italic;">Plan of Distribution</font>&#8221; and subject to the approval of certain legal matters on behalf of the Corporation by Blake, Cassels &amp; Graydon LLP, as to Canadian matters, and Gibson, Dunn &amp; Crutcher LLP, as to U.S. matters, and on behalf of the Underwriters by Bennett Jones LLP, as to Canadian matters, and Cravath, Swaine &amp; Moore LLP, as to U.S. matters. </div> <table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 0.99%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 11.49%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; white-space: nowrap; text-align: center;">Public Offering <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; white-space: nowrap; text-align: center;">Price</div></td><td class="gutter" style="width: 0.99%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 0.99%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 9.97%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; white-space: nowrap; text-align: center;">Underwriting <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; white-space: nowrap; text-align: center;">Commission</div></td><td class="gutter" style="width: 0.99%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 0.99%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 11.09%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; white-space: nowrap; text-align: center;">Net Proceeds <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; white-space: nowrap; text-align: center;">to Algonquin<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup> </div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Per Common Share<font style="padding-left: 2.89pt;"></font></div></td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.49%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 3.5pt; text-align: left;">$<font style="padding-left: 23.38pt;">&#8203;</font>18.15</div></td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 9.97%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 2.07pt; text-align: left;">$<font style="padding-left: 19.13pt;">&#8203;</font>0.726</div></td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.09%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 2.57pt; text-align: left;">$<font style="padding-left: 19.13pt;">&#8203;</font>17.424</div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)(3)</sup><font style="padding-left: 3.38pt;"></font></div></td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 11.49%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 3.5pt; text-align: left;">$800,052,000</div></td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 9.97%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 2.07pt; text-align: left;">$32,002,080</div></td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.99%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 11.09%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 2.57pt; text-align: left;">$768,049,920</div></td></tr></table> <div><div class="rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 0pt; margin-top: 12.25pt;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(1)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">Before deducting expenses of the Offering, which are estimated to be approximately $1.4 million and will be paid by the Corporation out of its general funds. The underwriting commission will be paid by the Corporation out of the proceeds of the Offering.</div></td></tr></table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(2)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">Algonquin has granted to the Underwriters an over-allotment option (the &#8220;<font style="font-weight: bold;">Over-Allotment Option</font>&#8221;), exercisable in whole or in part on one occasion for a period of 30 days from the Closing Date, to purchase up to an additional 15% of the number of Common Shares issued under the Offering, being 6,612,000 Common Shares, at a price of $18.15 per Common Share on the same terms and conditions as the Offering.</div></td></tr></table> </div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">i<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_200-part1_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5.25pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(3)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">If the Over-Allotment Option is exercised in full, the total &#8220;Public Offering Price&#8221;, &#8220;Underwriting Commission&#8221; and &#8220;Net Proceeds to Algonquin&#8221; (before deducting expenses of the Offering) will be $920,059,800, $36,802,392 and $883,257,408, respectively. This Prospectus also qualifies for distribution the grant of the Over-Allotment Option and the issuance of the Common Shares pursuant to the exercise of the Over-Allotment Option. See &#8220;<font style="font-style: italic;">Plan of Distribution</font>&#8221;.</div></td></tr></table> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">The following table sets forth the maximum number of Common Shares that the Corporation may issue pursuant to the Over-Allotment Option:</div> <table cellspacing="0" cellpadding="0" class="txttab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 20.51%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Underwriter&#8217;s Position</div></td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 23.08%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of Securities <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Available</div></td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 24.36%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Exercise Period</div></td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 24.36%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Exercise Price</div></td></tr><tr><td style="width: 20.51%; text-align: center; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; text-align: center;">Over-Allotment Option</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 23.08%; text-align: center; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; text-align: center;">6,612,000 Common Shares</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 24.36%; text-align: center; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; text-align: center;">Up to 30 days from the <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; text-align: center;">Closing Date</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 24.36%; text-align: center; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; text-align: center;">$18.15 per Common Share</div></td></tr></table> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">A purchaser who acquires Common Shares forming part of the Underwriters&#8217; Over-Allotment Option acquires those Common Shares under this Prospectus, regardless of whether the over-allocation position is ultimately filled through the exercise of the Over-Allotment Option or secondary market purchases.</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">Subject to applicable laws, the Underwriters may, in connection with the Offering, effect transactions intended to stabilize or maintain the market price of the Common Shares at levels other than those which might otherwise prevail in the open market. Such transactions, if commenced, may be discontinued at any time. The Underwriters propose to offer the Common Shares initially at the Public Offering Price. <font style="font-weight: bold;">After the Underwriters have made reasonable efforts to sell all of the Common Shares offered by this Prospectus at such </font><font style="font-weight: bold;">price, the Underwriters may reduce the Public Offering Price to investors from time to time in order to sell any of the Common </font><font style="font-weight: bold;">Shares remaining unsold. Any such reduction in the Public Offering Price shall not affect the purchase price to be paid to the </font><font style="font-weight: bold;">Corporation. See </font><font style="font-style: italic; font-weight: bold;">&#8220;Plan of Distribution.&#8221;</font></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-align: justify;">This Offering is made by a Canadian issuer that is permitted, under the multijurisdictional disclosure system adopted by Canada and the U.S., to prepare this Prospectus in accordance with Canadian disclosure requirements. Purchasers of the Common Shares should be aware that such disclosure requirements are different from those of the U.S. <font style="font-weight: normal;">Unless otherwise indicated, all financial </font><font style="font-weight: normal;">information included and incorporated by reference in this Prospectus has been prepared in accordance with generally accepted accounting </font><font style="font-weight: normal;">principles in the U.S. (&#8220;</font>U.S. GAAP<font style="font-weight: normal;">&#8221;).</font></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">The Common Shares are to be taken up by the Underwriters, if at all, on or before a date that is not later than 42 days after the date of the receipt for the final short form prospectus. See &#8220;<font style="font-style: italic;">Plan of Distribution</font>&#8221;. </div> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">Subscriptions for Common Shares will be received subject to rejection or allotment in whole or in part and the right is reserved to close the subscription books at any time without notice. The Common Shares will be represented by one or more certificates in registered form to CDS Clearing and Depository Services Inc. (&#8220;<font style="font-weight: bold;">CDS</font>&#8221;) or its nominee under the book-based system administered by CDS. No certificates evidencing the Common Shares will be issued to subscribers except in certain limited circumstances, and registration will be made in the depository services of CDS. Subscribers for the Common Shares will receive only a customer confirmation from the Underwriter or other registered dealer who is a CDS Participant and from or through whom a beneficial interest in the Common Shares is purchased. The Corporation expects that delivery of the Common Shares will be made against payment therefor on or about the Closing Date, which is expected to be the third business day following the date of the final Prospectus. See &#8220;<font style="font-style: italic;">Plan of Distribution &#8211; Settlement</font>&#8221;. </div> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-align: justify;">Investing in the Common Shares involves risks that should be considered by prospective purchasers, certain of which are described in the &#8220;<font style="font-style: italic;">Risk Factors</font><font style="font-weight: normal;">&#8221; </font>section and elsewhere in this Prospectus including in the documents incorporated by reference herein.</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-align: justify;">The purchase of Common Shares under the Offering may have tax consequences both in Canada and in the U.S. This Prospectus may not describe these tax consequences fully. See &#8220;<font style="font-style: italic;">Certain Canadian Federal Income Tax Considerations</font><font style="font-weight: normal;">&#8221; and &#8220;</font><font style="font-style: italic;">Certain U.S. </font><font style="font-style: italic;">Federal Income Tax Considerations</font><font style="font-weight: normal;">&#8221;.</font></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-align: justify;">The enforcement by investors of civil liabilities under U.S. federal securities laws may be affected adversely by the fact that the Corporation is incorporated under the laws of Canada, that most of its officers and some of its directors are residents of Canada and that a portion of the assets of the Corporation and said persons are located outside the U.S. See &#8220;<font style="font-style: italic;">Enforcement of Certain Civil </font><font style="font-style: italic;">Liabilities</font><font style="font-weight: normal;">&#8221; in this Prospectus. </font></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-align: justify;">NEITHER THE SEC NOR ANY STATE OR CANADIAN SECURITIES REGULATOR HAS PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE.</div> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-align: justify;">CIBC World Markets Inc., Scotia Capital Inc. BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., Morgan Stanley Canada Limited, Desjardins Securities Inc., J.P. Morgan Securities Canada Inc., Merrill Lynch Canada Inc., Wells Fargo Securities Canada, Ltd. and HSBC Securities (Canada) Inc. are affiliates of financial institutions which are lenders to the Corporation and/or certain subsidiary entities of the Corporation. Further, CIBC World Markets Inc. acted as financial advisor to the Corporation in connection with the Acquisition. Consequently, the Corporation may be considered a connected issuer to each of the foregoing Underwriters for purposes of applicable Canadian securities laws. See &#8220;<font style="font-style: italic;">Relationship Between the Corporation and Certain Underwriters.</font><font style="font-weight: normal;">&#8221;</font></div> <div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">Melissa Stapleton Barnes, Masheed Saidi, D. Randy Laney and Dilek Samil, directors of the Corporation, all reside outside of Canada. Each of Ms.&#160;Barnes, Ms.&#160;Saidi, Mr.&#160;Laney and Ms.&#160;Samil has appointed Algonquin Power &amp; Utilities Corp., 354 Davis Road, Oakville, Ontario, L6J 2X1 as his or her agent for service of process in Canada. Purchasers are advised that it may not be possible for investors to enforce judgments obtained in Canada against any person or company that is incorporated, continued or otherwise organized under the laws of a foreign jurisdiction or resides outside of Canada, even if the party has appointed an agent for service of process. See &#8220;<font style="font-style: italic;">Enforcement of Certain Civil Liabilities</font>&#8221; and &#8220;<font style="font-style: italic;">Agent for Service of Process in Canada</font>.&#8221;</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 6.5pt; margin-left: 0pt; text-align: left;">The registered and head office of the Corporation is located at 354 Davis Road, Oakville, Ontario, L6J 2X1.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">ii<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_201-toc_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">TABLE OF CONTENTS</div></div><div class="columns" style="width: 468pt; margin-left: 0pt;"><div class="block-main-columns" style="width: 228pt; float: left;"><a name="TOC"><!--Anchor--></a><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 228pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 1.66%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Page</div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tATP">ABOUT THIS PROSPECTUS<font style="padding-left: 1.33pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tATP"><font style="padding-left: 5pt;">1</font></a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tC">CURRENCY<font style="padding-left: 2.06pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tC"><font style="padding-left: 5pt;">1</font></a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;"><a href="#tCAU">CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION<font style="padding-left: 3.77pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tCAU"><font style="padding-left: 5pt;">2</font></a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;"><a href="#tPOFI">PRESENTATION OF FINANCIAL INFORMATION<font style="padding-left: 2.63pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tPOFI"><font style="padding-left: 5pt;">5</font></a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tNM">NON-GAAP MEASURES<font style="padding-left: 3.01pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tNM"><font style="padding-left: 5pt;">5</font></a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;"><a href="#tDIBR">DOCUMENTS INCORPORATED BY REFERENCE<font style="padding-left: 4.28pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDIBR"><font style="padding-left: 5pt;">6</font></a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tMM">MARKETING MATERIALS<font style="padding-left: 2.09pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tMM"><font style="padding-left: 5pt;">7</font></a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;"><a href="#tWYCFMI">WHERE YOU CAN FIND MORE INFORMATION<font style="padding-left: 2.63pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tWYCFMI"><font style="padding-left: 5pt;">7</font></a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tBOTC">BUSINESS OF THE CORPORATION<font style="padding-left: 2.27pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tBOTC"><font style="padding-left: 5pt;">9</font></a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tRD">RECENT DEVELOPMENTS<font style="padding-left: 0.03pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tRD"><font style="padding-left: 5pt;">9</font></a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tTA">THE ACQUISITION<font style="padding-left: 4.86pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tTA">10</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tDOTCS">DESCRIPTION OF THE COMMON SHARES<font style="padding-left: 1.73pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDOTCS">13</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tUOP">USE OF PROCEEDS<font style="padding-left: 2.07pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tUOP">15</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tCC">CONSOLIDATED CAPITALIZATION<font style="padding-left: 1.24pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tCC">15</a></div></td></tr></table></div><div class="block-main-columns" style="margin-left: 12pt; width: 228pt; float: left;"><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 228pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 1.66%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Page</div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tPOD">PLAN OF DISTRIBUTION<font style="padding-left: 0.98pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tPOD">16</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;"><a href="#tRBTCACU">RELATIONSHIP BETWEEN THE CORPORATION AND CERTAIN UNDERWRITERS<font style="padding-left: 3.73pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tRBTCACU">22</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tTPAV">TRADING PRICES AND VOLUMES<font style="padding-left: 3.39pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tTPAV">23</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tPS">PRIOR SALES<font style="padding-left: 3.18pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tPS">23</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;"><a href="#tCCFIC">CERTAIN CANADIAN FEDERAL INCOME TAX CONSIDERATIONS<font style="padding-left: 2.89pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tCCFIC">25</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;"><a href="#tCUFIC">CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS<font style="padding-left: 0.97pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tCUFIC">28</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tEFI">ELIGIBILITY FOR INVESTMENT<font style="padding-left: 3.03pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tEFI">32</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tRF">RISK FACTORS<font style="padding-left: 1.32pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tRF">33</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tIOE">INTERESTS OF EXPERTS<font style="padding-left: 1.56pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tIOE">38</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;"><a href="#tATAR">AUDITORS, TRANSFER AGENT &amp; REGISTRAR<font style="padding-left: 0.95pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tATAR">38</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;"><a href="#tDFPR">DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT<font style="padding-left: 3.99pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tDFPR">38</a></div></td></tr><tr><td style="width: 89.47%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;"><a href="#tEOCCL">ENFORCEMENT OF CERTAIN CIVIL LIABILITIES<font style="padding-left: 4.3pt;"></font></a></div></td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.66%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 7.21%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#tEOCCL">38</a></div></td></tr></table></div><div style="clear: both;"> </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">iii<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_202-about_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tATP"><!--Anchor--></a>ABOUT THIS PROSPECTUS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Investors should rely only on the information contained in or incorporated by reference in this Prospectus. The Corporation is not, and the Underwriters are not, making an offer to sell the Common Shares in any jurisdiction where the offer or sale is not permitted. Investors should not assume that the information appearing in this Prospectus or any documents incorporated by reference herein is accurate as of any date other than the date on the front of those documents, as the Corporation&#8217;s business, operating results, financial condition and prospects may have changed since that date.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Unless the context otherwise requires, all references in this Prospectus to &#8220;the Corporation&#8221;, &#8220;Algonquin&#8221;, &#8220;we&#8221; and &#8220;us&#8221; refer to Algonquin Power &amp; Utilities Corp., the direct or indirect subsidiary entities of Algonquin Power &amp; Utilities Corp. and partnership and trust interests held by Algonquin Power &amp; Utilities Corp. and its direct or indirect subsidiary entities.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; text-align: center;"><a name="tC"><!--Anchor--></a>CURRENCY</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In this Prospectus, unless otherwise specified or the context requires otherwise, all dollar amounts are expressed in Canadian dollars. References to &#8220;U.S. dollars&#8221; or &#8220;U.S.$&#8221; are to lawful currency of the United States of America. References to &#8220;dollars&#8221;, &#8220;Canadian dollars&#8221; or &#8220;$&#8221; are to lawful currency of Canada.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following table sets forth, for each of the periods indicated, the period end exchange rate, the average exchange rate and the high and low exchange rates of one Canadian dollar in exchange for U.S. dollars, based on the daily exchange rate for the years ended December&#160;31, 2018, 2019 and 2020 and for the six months ended June&#160;30,&#160;2021 and 2020, in each case as reported by the Bank of Canada. </div><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td colspan="4" style="width: 13.7%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Six months ended <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">June&#160;30,</div></td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td colspan="7" style="width: 21.2%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Year ended <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">December&#160;31,</div></td></tr><tr class="header"><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 5.96%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 4.25pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2021</div></td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 5.96%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 4.25pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2020</div></td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 5.88%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 4.25pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2020</div></td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 5.88%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 4.25pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2019</div></td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 0.89%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 5.88%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 4.25pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2018</div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">High<font style="padding-left: 0.5pt;"></font></div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.96%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.19pt; text-align: left;">0.8306</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.96%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.19pt; text-align: left;">0.7710</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;">0.7863</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">0.7699</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">0.8138</div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Low<font style="padding-left: 2.17pt;"></font></div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.96%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.19pt; text-align: left;">0.7795</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.96%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.19pt; text-align: left;">0.6898</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;">0.6898</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">0.7353</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">0.7330</div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Average<font style="padding-left: 2.37pt;"></font></div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.96%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.19pt; text-align: left;">0.8023</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.96%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.19pt; text-align: left;">0.7332</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;">0.7461</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">0.7537</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">0.7721</div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Period End<font style="padding-left: 4.95pt;"></font></div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.96%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.19pt; text-align: left;">0.8060</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.96%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.19pt; text-align: left;">0.7338</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;">0.7854</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">0.7699</div></td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.89%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">0.7330</div></td></tr></table> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The daily exchange rate on October 26, 2021, as reported by the Bank of Canada for the conversion of Canadian dollars into U.S. dollars, was $1.00 = U.S.$0.8080. </div> </div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">1<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_203-fls_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tCAU"><!--Anchor--></a>CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This Prospectus, including the documents incorporated by reference herein, may contain statements that constitute &#8220;forward-looking information&#8221; within the meaning of applicable securities laws in each of the provinces of Canada and the respective policies, regulations and rules under such laws and/or &#8220;forward-looking statements&#8221; within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, &#8220;<font style="font-weight: bold;">forward-looking </font><font style="font-weight: bold;">information</font>&#8221;). The words &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;budget,&#8221; &#8220;could,&#8221; &#8220;estimates,&#8221; &#8220;expects,&#8221; &#8220;forecasts,&#8221; &#8220;intends,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;plans,&#8221; &#8220;projects,&#8221; &#8220;schedule,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; &#8220;would&#8221;, &#8220;pro forma&#8221; and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specific forward-looking information contained or incorporated by reference in this Prospectus includes, but is not limited to, statements relating to: expected future growth, financial results (including third quarter 2021 financial results and 2021 Adjusted Net EPS (as defined herein)) and results of operations; liquidity, capital resources and operational requirements; rate reviews, including resulting decisions and rates and expected impacts and timing; sources of funding, including adequacy and availability of credit facilities, debt maturation and future borrowings; expectations regarding the impact of the 2019 novel coronavirus (&#8220;<font style="font-weight: bold;">COVID-19</font>&#8221;) on the Corporation&#8217;s business, operations, financial condition, cash flows and results of operations; expectations regarding credit ratings and the maintenance thereof; statements relating to renewable energy credits expected to be generated and sold; tax credits expected to be available and/or received, including production tax credits and investment tax credits; the expected timeline for regulatory approvals and permits; the expected approval timing and cost of various transactions; the estimated impact of the February 2021 extreme winter storm conditions experienced in Texas and parts of the central U.S. (the &#8220;<font style="font-weight: bold;">Midwest Extreme Weather Event</font>&#8221;) and as a result of the Midwest Extreme Weather Event, the significantly elevated pricing that persisted in the Electric Reliability Council of Texas market over several days (the &#8220;<font style="font-weight: bold;">Market Disruption Event</font>&#8221;) on the Corporation, its operations, its facilities and its financial results; the Corporation&#8217;s response to the Midwest Extreme Weather Event, the expected future recovery from customers of substantially all incremental commodity costs incurred with the Midwest Extreme Weather Event, and the expectation that the Corporation will have sufficient liquidity to fund such costs in the interim; the expected reduction in CO<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub> emissions due to the retirement of the Asbury coal facility; statements regarding the Corporation&#8217;s sustainability and environmental, social and governance goals, including its net-zero by 2050 target; expectations and plans with respect to current and planned capital projects; expectations with respect to revenues pursuant to power purchase agreements and energy production hedges; ongoing and planned acquisitions, projects and initiatives, including expectations regarding costs, financing, results, ownership structures, power purchase agreements, regulatory matters, in-service dates and completion dates; expectations regarding the Corporation&#8217;s corporate development activities and the results thereof, including the expected business mix between the Regulated Services Group and Renewable Energy Group; expectations regarding the Corporation&#8217;s development pipeline; the potential impacts of interconnection study results on the Neosho Ridge Wind Facility, and the expected timing for the next interconnection study results for the North Fork Ridge, Kings Point and Neosho Ridge Wind Facilities; expectations regarding regulatory hearings, motions, filings, proceedings and approvals; expectations regarding the resumption of normal collection procedures; expectations regarding the cost of operations, capital spending and maintenance, and the variability of those costs; expected future generation of the Corporation&#8217;s energy facilities; expectations regarding legal proceedings and the outcomes thereof; expected demand for renewable sources of power; expected capacity of and energy sales from new energy projects; business plans for the Corporation&#8217;s subsidiaries and joint ventures; expected future capital investments, including expected timing, investment plans, sources of funds and impacts; expectations regarding future &#8220;greening the fleet&#8221; and related initiatives; expectations regarding generation availability, capacity and production; expectations regarding the outcome of existing or potential legal and contractual claims and disputes; expectations regarding the ability to access the capital market on reasonable terms; strategy and goals; expectations regarding the impacts of a failed restructuring by the subsidiary of Abengoa S.A. (&#8220;<font style="font-weight: bold;">Abengoa</font>&#8221;) that holds the interest in Abengoa-Algonquin Global Energy Solutions (&#8220;<font style="font-weight: bold;">AAGES</font>&#8221;); expectations regarding the timing for completion of, and apportionment of liability for, the blade remediation work at the Sugar Creek Wind Facility; expense reductions; expected future base rates; contractual obligations and other commercial commitments; environmental liabilities; dividends to shareholders; expectations regarding the maturity and redemption of the Corporation&#8217;s outstanding subordinated notes; expectations regarding the maturity and settlement of the Corporation&#8217;s outstanding equity units; expectations regarding the impact of tax reforms; credit ratings; anticipated growth and emerging opportunities in the Corporation&#8217;s target markets; anticipated customer benefits; the future impact on the Corporation of actual or proposed laws, regulations and rules; accounting estimates; interest rates; currency exchange rates; commodity prices; the timing for closing of pending acquisitions, including the </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">2<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_203-fls_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">acquisition of New York American Water (as defined in the AIF (as defined herein)); and this Offering, including the closing date thereof, the expected use of proceeds, the anticipated listing of the Common Shares offered hereunder on the TSX and NYSE and the anticipated tax treatment of the Common Shares and the expected number of issued and outstanding Common Shares upon completion of the Offering. All forward-looking information is given pursuant to the &#8220;safe harbour&#8221; provisions of applicable securities legislation. </div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The forward-looking information contained herein pertaining to the Acquisition and the financing thereof, and the future performance, business prospects and opportunities arising from or relating to the Acquisition includes, but is not limited to, statements regarding: the completion of the Acquisition and related expectations regarding the satisfaction of closing conditions, including regulatory approvals; the expected closing date of the Acquisition; the purchase price of the Acquisition and the expected financing thereof; the anticipated benefits of the Acquisition, including the impact of the Acquisition on the Corporation&#8217;s business, operations, financial condition, cash flows and results of operations; the Corporation&#8217;s &#8220;greening the fleet&#8221; plans with respect to the Acquired Entities (as defined herein) and the corresponding reduction in greenhouse gases as a result thereof; expectations regarding the Corporation&#8217;s customer base, regulated rate-base, electric rate base, distribution and transmission infrastructure; business mix and sustainability objectives following completion of the Acquisition; known and potentially unknown expenses and other liabilities associated with compliance with environmental, health and safety laws, including environmental remediation; expectations regarding the Corporation&#8217;s credit rating following the completion of the Acquisition; expectations regarding the regulation of the Acquired Entities following the completion of the Acquisition; expectations regarding the transfer of operational control over the Mitchell Plant (as defined herein); expectations regarding the Acquired Entities&#8217; sourcing of coal-fired generation; expectations regarding the levelized cost of energy from renewable sources; expectations regarding the Acquired Entities and their stakeholders following the completion of the Acquisition, including expectations regarding enhanced investment and employment in the state of Kentucky; and expectations regarding the timing for the transfer or retirement (for rate-making purposes in Kentucky) of the Mitchell Plant. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The forecasts and projections that make up the forward-looking information contained in this Prospectus, including the documents incorporated by reference herein, are based on certain factors or assumptions which include, but are not limited to: the timing and completion of the Acquisition; the realization of the anticipated benefits of the Acquisition, including that the Acquisition will be accretive to the Corporation&#8217;s Adjusted Net EPS (as defined herein); the satisfaction of the conditions to closing the Acquisition, including the receipt, in a timely manner, of applicable regulatory and other required approvals and consents; that the Corporation will be able to successfully integrate the Acquired Entities (as defined herein); the absence of any material adverse changes to the Acquired Entities in the intervening period between the closing of the Offering and the closing of the Acquisition; the successful transfer of operational control over the Mitchell Plant to Wheeling Power Company; the transfer of the Mitchell Plant being implemented in accordance with the Corporation&#8217;s expectations; the aggregate amount of Acquisition expenses; the absence of undisclosed liabilities of the Acquired Entities; that the Acquired Entities will maintain constructive regulatory relationships with state regulatory authorities; the ability of the Corporation to retain key personnel of the Acquired Entities and the value of such employees; the absence of any material expenses, payments and/or adverse affects due to the operation of change of control and/or termination for convenience provisions in agreements to which the Acquired Entities may be a party; that the Corporation, the Acquired Entities and the Sellers will maintain constructive relationships following the completion of the Acquisition; no adverse developments in the business and affairs of the Sellers during the period when transitional services are provided to the Corporation; the ability of the Corporation to satisfy its liabilities and meet its debt service obligations following completion of the Acquisition; the absence of any reputational harm to the Corporation as a result of the Acquisition; the ability of the Corporation to successfully execute future &#8220;greening the fleet&#8221; initiatives; the receipt of applicable regulatory approvals and requested rate decisions; the absence of a material increase in the costs of compliance with environmental laws following the completion of the Acquisition; the absence of material adverse regulatory decisions being received and the expectation of regulatory stability; the absence of any material equipment breakdown or failure; availability of financing (including tax equity financing and self-monetization transactions for U.S. federal tax credits) on commercially reasonable terms and the stability of credit ratings of the Corporation and its subsidiaries; the absence of unexpected material liabilities or uninsured losses; the continued availability of commodity supplies and stability of commodity prices; the absence of sustained interest rate increases or significant currency exchange rate fluctuations; the absence of significant operational, financial or supply chain disruptions or liability; the continued ability to maintain systems and facilities to ensure their continued performance; the absence of a severe and prolonged downturn in general economic, credit, social and market conditions; the successful and </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">3<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_203-fls_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">timely development and construction of new projects; the closing of pending acquisitions substantially in accordance with the expected timing for such acquisitions; the absence of material capital project or financing cost overruns; sufficient liquidity and capital resources; the continuation of long-term weather patterns and trends; the absence of significant counterparty defaults; the continued competitiveness of electricity pricing when compared with alternative sources of energy; the realization of the anticipated benefits of the Corporation&#8217;s acquisitions and joint ventures; the absence of a change in applicable laws, political conditions, public policies and directions by governments, materially negatively affecting the Corporation; the ability to obtain and maintain licenses and permits; maintenance of adequate insurance coverage; the absence of a material decrease in market energy prices; the absence of material disputes with taxation authorities or changes to applicable tax laws; continued maintenance of information technology infrastructure and the absence of a material breach of cybersecurity; favourable relations with external stakeholders; and favourable labour relations. Given the continued uncertainty and evolving circumstances surrounding the COVID-19 pandemic and related response from governments, regulatory authorities, businesses, suppliers and customers, there is more uncertainty associated with the Corporation&#8217;s assumptions and expectations as compared to periods prior to the onset of COVID-19.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The forward-looking information in this Prospectus, including the documents incorporated by reference, is subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or results anticipated by the forward-looking information. Factors which could cause results or events to differ materially from current expectations include, but are not limited to: changes in general economic, credit, social and market conditions; changes in customer energy usage patterns and energy demand, including regional shifts in industrial or commercial activity; global climate change; the incurrence of environmental liabilities; natural disasters, diseases, pandemics and other force majeure events; critical equipment breakdown or failure; the failure of information technology infrastructure and cybersecurity; physical security breach; inability to complete the Acquisition; impact of significant demands placed on the Corporation as a result of the Acquisition; impact of expenses related to the Acquisition; potential undisclosed liabilities of the Acquired Entities; uncertainty regarding the length of time required to complete the Acquisition; the failure to implement the Corporation&#8217;s strategic objectives relating to the Acquired Entities; the anticipated benefits of the Acquisition, which may not materialize or may not occur within the time periods anticipated by the Corporation; Kentucky Power&#8217;s failure to receive regulatory approval for the construction of new renewable generation facilities; impact of expenses related to the Acquisition; indebtedness of the Acquired Entities; the Acquisition and related financing, including the Offering, could result in a downgrade of credit ratings of the Corporation; the loss of key personnel and/or labour disruptions; the Corporation&#8217;s lack of control over the Acquired Entities prior to the completion of the Acquisition; reputational harm and increased costs of compliance with environmental laws as a result of the Acquisition; claims for nuisance being resolved against Kentucky Power following the completion of the Acquisition; adverse effects against the Corporation or the Acquired Entities during the pendency of the Acquisition; unanticipated expenses and/or cash payments as a result of change of control and/or termination for convenience provisions in agreements to which the Acquired Entities are a party; the reliance on the Sellers for certain transitional services following the completion of the Acquisition; seasonal fluctuations and variability in weather conditions and natural resource availability; reductions in demand for electricity, gas and water due to developments in technology; reliance on transmission systems owned and operated by third parties; issues arising with respect to land use rights and access to the Corporation&#8217;s facilities; terrorist attacks; fluctuations in commodity prices; capital expenditures; reliance on subsidiaries; the incurrence of an uninsured loss; a credit rating downgrade; an increase in financing costs or limits on access to credit and capital markets; sustained increases in interest rates; currency exchange rate fluctuations; restricted financial flexibility due to covenants in existing credit agreements; an inability to refinance maturing debt on commercially reasonable terms; disputes with taxation authorities or changes to applicable tax laws; failure to identify, acquire, develop or timely place in service projects to maximize the value of production tax credit qualified equipment; requirement for greater than expected contributions to post-employment benefit plans; default by a counterparty; inaccurate assumptions, judgments and/or estimates with respect to asset retirement obligations; failure to maintain required regulatory authorizations; changes to health and safety laws, regulations or permit requirements; failure to comply with and/or changes to environmental laws, regulations and other standards; changes in laws and regulations; compliance with foreign laws or regulations; failure of compliance programs; failure to identify attractive acquisition or development candidates necessary to pursue the Corporation&#8217;s growth strategy; delays and cost overruns in the design and construction of projects, including as a result of COVID-19; loss of key customers; failure to realize the anticipated benefits of acquisitions or joint ventures, including Atlantica Sustainable Infrastructure plc (formerly Atlantica Yield plc) (&#8220;<font style="font-weight: bold;">Atlantica</font>&#8221;) or AAGES acting in a manner contrary to the Corporation&#8217;s interests; a drop in the market value of Atlantica&#8217;s ordinary shares; facilities being condemned or otherwise taken by </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">4<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_203-fls_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">governmental entities; increased external stakeholder activism adverse to the Corporation&#8217;s interests; fluctuations in the price and liquidity of the Common Shares and the Corporation&#8217;s other securities; and the severity and duration of the COVID-19 pandemic and its collateral consequences, including the disruption of economic activity, volatility in capital and credit markets and legislative and regulatory responses. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Some of these and other factors are discussed in more detail in the section of this Prospectus entitled &#8220;<font style="font-style: italic;">Risk Factors</font>,&#8221; in the AIF under the heading &#8220;<font style="font-style: italic;">Enterprise Risk Factors</font>&#8221; and in the Corporation&#8217;s most recent annual and interim Management&#8217;s Discussion and Analysis (&#8220;<font style="font-weight: bold;">MD&amp;A</font>&#8221;) under the heading &#8220;<font style="font-style: italic;">Enterprise </font><font style="font-style: italic;">Risk Management</font>&#8221;.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Forward-looking information contained in this Prospectus (including any financial outlook) is provided for the purposes of assisting the reader in understanding the Corporation and its business, operations, risks, financial performance, financial position and cash flows as at and for the periods indicated and to present information about management&#8217;s current expectations and plans relating to the future and the reader is cautioned that such information may not be appropriate for other purposes. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Forward-looking information contained in this Prospectus, including the documents incorporated by reference, is made as of the date of this Prospectus or the documents incorporated by reference, as applicable, and based on the plans, beliefs, estimates, projections, expectations, opinions and assumptions of management on such date. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. While subsequent events and developments may cause the Corporation&#8217;s views to change, the Corporation disclaims any obligation to update any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law. All forward-looking information contained or incorporated by reference in this Prospectus is qualified by these cautionary statements.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; text-align: center;"><a name="tPOFI"><!--Anchor--></a>PRESENTATION OF FINANCIAL INFORMATION</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The financial statements of the Corporation incorporated by reference in this Prospectus are reported in U.S.&#160;dollars. Unless otherwise indicated, all financial information included and incorporated by reference in this Prospectus has been prepared in accordance with U.S. GAAP.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; text-align: center;"><a name="tNM"><!--Anchor--></a>NON-GAAP MEASURES</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The terms &#8220;Adjusted Net Earnings&#8221;, &#8220;Adjusted Net Earnings per share&#8221; (or &#8220;Adjusted Net EPS&#8221;) and &#8220;adjusted earnings before interest, taxes, depreciation and amortization&#8221; (&#8220;Adjusted EBITDA&#8221;) may be used in this Prospectus and are not recognized measures under U.S. GAAP. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">&#8220;Adjusted Net Earnings&#8221; is a non-GAAP measure used by many investors to compare net earnings from operations without the effects of certain volatile primarily non-cash items that generally have no current economic impact or items such as acquisition expenses or certain litigation expenses that are viewed as not directly related to a company&#8217;s operating performance. The Corporation uses &#8220;Adjusted Net Earnings&#8221; to assess its performance without the effects of (as applicable): gains or losses on foreign exchange, foreign exchange forward contracts, interest rate swaps, acquisition costs, one-time costs of arranging tax equity financing, certain litigation expenses and write down of intangibles and property, plant and equipment, earnings or loss from discontinued operations, unrealized mark-to-market revaluation impacts (other than those realized in connection with the sales of development assets), costs related to management succession and executive retirement, costs related to prior period adjustments due to the Tax Cuts and Jobs Act (&#8220;<font style="font-weight: bold;">U.S. Tax Reform</font>&#8221;), costs related to condemnation proceedings, financial impacts from the Market Disruption Event on the Corporation&#8217;s Senate Wind Facility, changes in value of investments carried at fair value, and other typically non-recurring or unusual items as these are not reflective of the performance of the underlying business of the Corporation. The non-cash accounting charge related to the revaluation of U.S. deferred income tax assets and liabilities as a result of implementation of the effects of U.S. Tax Reform is adjusted as it is also considered a non-recurring item not reflective of the performance of the underlying business of the Corporation. The Corporation believes that analysis and presentation of net earnings or loss on this basis will enhance an investor&#8217;s understanding of the operating performance of its businesses. &#8220;Adjusted Net Earnings&#8221; is not intended to be representative of net earnings or loss determined in accordance with U.S. GAAP, and can be impacted positively or </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">5<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_203-fls_pg5"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">negatively by these items. The Corporation uses &#8220;Adjusted Net EPS&#8221; to enhance assessment and understanding of the performance of the Corporation. &#8220;Adjusted Net EPS&#8221; represents Adjusted Net Earnings less dividends on preferred shares divided by the weighted average number of Common Shares outstanding during the relevant period.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">&#8220;Adjusted EBITDA&#8221; is a non-GAAP measure used by many investors to compare companies on the basis of ability to generate cash from operations. The Corporation uses these calculations to monitor the amount of cash generated by the Corporation. The Corporation uses &#8220;Adjusted EBITDA&#8221; to assess the operating performance of the Corporation without the effects of (as applicable): depreciation and amortization expense, income tax expense or recoveries, acquisition costs, certain litigation expenses, interest expense, gain or loss on derivative financial instruments, write down of intangibles and property, plant and equipment, earnings attributable to noncontrolling interests, non-service pension and post-employment costs, cost related to tax equity financing, costs related to management succession and executive retirement, costs related to prior period adjustments due to the U.S. Tax Reform, costs related to condemnation proceedings, financial impacts from the Market Disruption Event on the Company's Senate Wind Facility, gain or loss on foreign exchange, earnings or loss from discontinued operations, changes in value of investments carried at fair value, and other typically non-recurring or unusual items. The Corporation adjusts for these factors as they may be non-cash, unusual in nature and are not factors used by management for evaluating the operating performance of the Company. The Corporation believes that presentation of this measure will enhance an investor&#8217;s understanding of the Corporation&#8217;s operating performance. &#8220;Adjusted EBITDA&#8221; is not intended to be representative of cash provided by operating activities or results of operations determined in accordance with U.S. GAAP, and can be impacted positively or negatively by these items.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">There is no standardized measure of &#8220;Adjusted Net Earnings&#8221;, &#8220;Adjusted Net EPS&#8221; or &#8220;Adjusted EBITDA&#8221; and the Corporation&#8217;s method of calculating these measures may differ from methods used by other companies and therefore may not be comparable to similar measures presented by other companies. For further information regarding the terms &#8220;Adjusted Net Earnings&#8221;, &#8220;Adjusted Net EPS&#8221; or &#8220;Adjusted EBITDA&#8221; and other non-GAAP financial measures used by the Corporation and referred to in the documents incorporated by reference herein, including an explanation, calculation and analysis and, as applicable, a reconciliation to the most directly comparable U.S. GAAP measure, see &#8220;Non-GAAP Financial Measures&#8221; in the Corporation&#8217;s most recent annual and interim MD&amp;A. </div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 14pt; text-align: center;"><a name="tDIBR"><!--Anchor--></a>DOCUMENTS INCORPORATED BY REFERENCE</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following documents, each of which has been filed with the securities commissions or similar authorities in each of the provinces of Canada and filed with the SEC under the U.S. Securities Exchange Act of 1934, as amended (the &#8220;<font style="font-weight: bold;">U.S. </font><font style="font-weight: bold;">Exchange Act</font>&#8221;), are specifically incorporated by reference in and form an integral part of this Prospectus: </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(a)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;"><a href="https://www.sec.gov/Archives/edgar/data/1174169/000117416921000012/a2021aifv7boardcirculation.htm">the Corporation&#8217;s Annual Information Form dated March 4, 2021 for the year ended December 31, 2020 (the &#8220;</a><font style="font-weight: bold;"><a href="https://www.sec.gov/Archives/edgar/data/1174169/000117416921000012/a2021aifv7boardcirculation.htm">AIF</a></font><a href="https://www.sec.gov/Archives/edgar/data/1174169/000117416921000012/a2021aifv7boardcirculation.htm">&#8221;)</a>;</div></td></tr></table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(b)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the audited consolidated financial statements of the Corporation as at and for the years ended December&#160;31, 2020 and December&#160;31, 2019, together with the report of independent registered public accounting firm thereon, as filed on SEDAR on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1174169/000117416921000012/aqunf-20201231.htm">March&#160;4, 2021</a>;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(c)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the MD&amp;A of the Corporation for the year ended December&#160;31, 2020, as filed on SEDAR on <a href="https://www.sec.gov/Archives/edgar/data/1174169/000117416921000012/a2020q4-exhibit992xmda.htm">March&#160;4,&#160;2021</a>; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(d)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the management information circular of the Corporation filed on SEDAR on May&#160;3, 2021 in respect of the Corporation&#8217;s annual meeting of shareholders held on <a href="https://www.sec.gov/Archives/edgar/data/1174169/000114036121015562/brhc10023941_ex99-1.htm">June&#160;3, 2021</a>; </div></td></tr></table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(e)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the interim unaudited consolidated financial statements of the Corporation as at and for the three and six&#160;months ended June&#160;30, 2021, as filed on SEDAR on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1174169/000117416921000047/aqunf-20210630.htm">August&#160;12, 2021</a>;</div></td></tr></table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(f)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the MD&amp;A of the Corporation for the three and six months ended June&#160;30, 2021, as filed on SEDAR on <a href="https://www.sec.gov/Archives/edgar/data/1174169/000117416921000047/a2021q2-exhibit992xmda.htm">August&#160;12, 2021</a>;</div></td></tr></table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(g)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the material change report dated October 27, 2021 in respect of the Acquisition and the Offering;</div></td></tr></table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(h)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the template version (as such term is defined in National Instrument 41-101 &#8211; <font style="font-style: italic;">General Prospectus </font><font style="font-style: italic;">Requirements</font> (&#8220;<font style="font-weight: bold;">NI 41-101</font>&#8221;)) of the term sheet for the Offering dated October 26, 2021 (the &#8220;<font style="font-weight: bold;">Term </font><font style="font-weight: bold;">Sheet</font>&#8221;); and</div></td></tr></table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(i)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the template version of the investor presentation dated October 26, 2021 (the &#8220;<font style="font-weight: bold;">Investor Presentation</font>&#8221;).</div></td></tr></table> </div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">6<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_203-fls_pg6"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Any documents of the Corporation of the type referred to above, including all annual information forms, all information circulars, all annual and interim financial statements and MD&amp;A relating thereto, all material change reports (excluding confidential material change reports), news releases containing financial information for financial periods more recent than the most recent annual or interim financial statements, and any business acquisition reports subsequently filed by the Corporation with a securities commission or similar authority in Canada after the date of this Prospectus and prior to the termination of the Offering hereunder shall be deemed to be incorporated by reference in this Prospectus (except that any description of the Corporation&#8217;s credit ratings in any such document shall not be deemed to be incorporated by reference into this Prospectus). These documents will be available through the internet on SEDAR, which can be accessed at www.sedar.com. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Documents or information in an annual report on Form 40-F filed by the Corporation with the SEC under the U.S. Exchange Act, from the date of this Prospectus and prior to the termination or completion of the Offering shall be deemed to be incorporated by reference into this Prospectus and be deemed exhibits to the registration statement of which this Prospectus forms a part. In addition, any other report on Form 6-K and the exhibits thereto filed or furnished by the Corporation with the SEC under the U.S. Exchange Act from the date of this Prospectus and prior to the termination or completion of the Offering shall be deemed to be incorporated by reference into this Prospectus or as exhibits to the registration statement, as applicable, but only if and to the extent expressly so provided in such reports. Further, prior to the termination or completion of the Offering the Corporation may incorporate by reference into this Prospectus information from documents that it files with or furnishes to the SEC pursuant to Section 13(a) or 15(d) of the U.S. Exchange Act, if and to the extent expressly provided therein. The Corporation&#8217;s current reports on Form 6-K and annual reports on Form 40-F are available from the SEC&#8217;s Electronic Data Gathering, Analysis and Retrieval (&#8220;<font style="font-weight: bold;">EDGAR</font>&#8221;) system at <u>www.sec.gov</u>.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Any statement contained in this Prospectus or in any other document (or part thereof) incorporated or deemed to be incorporated by reference in this Prospectus shall be deemed to be modified or superseded for the purposes of this Prospectus to the extent that a statement contained herein or in any other subsequently filed document which also is, or is deemed to be, incorporated by reference in this Prospectus modifies or supersedes such statement. <font style="font-weight: normal;">The modifying or superseding statement need not state that it has modified or </font><font style="font-weight: normal;">superseded a prior statement or include any other information set forth in the document that it modifies or supersedes. </font><font style="font-weight: normal;">The making of a modifying or superseding statement shall not be deemed an admission for any purposes that the </font><font style="font-weight: normal;">modified or superseded statement, when made, constituted a misrepresentation, an untrue statement of a material fact </font><font style="font-weight: normal;">or an omission to state a material fact that is required to be stated or that is necessary to make a statement not </font><font style="font-weight: normal;">misleading in light of the circumstances in which it was made. Any statement so modified or superseded shall not </font><font style="font-weight: normal;">be deemed, except as so modified or superseded, to constitute a part of this Prospectus.</font></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; text-align: center;"><a name="tMM"><!--Anchor--></a>MARKETING MATERIALS</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Term Sheet and Investor Presentation are not part of this Prospectus to the extent that the contents thereof have been modified or superseded by a statement contained in this Prospectus or any amendment. Any template version of any marketing materials (as defined in NI 41-101) with respect to the Offering that is filed after the date of this Prospectus and prior to the termination of the Offering shall be deemed to be incorporated by reference in this Prospectus.</div> <div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; text-align: center;"><a name="tWYCFMI"><!--Anchor--></a>WHERE YOU CAN FIND MORE INFORMATION</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation has filed with the SEC, under the U.S. Securities Act of 1933, as amended (the &#8220;<font style="font-weight: bold;">Securities&#160;Act</font>&#8221;), a registration statement on Form F-10 with respect to the Common Shares to be issued under the Offering. This Prospectus, which forms part of the registration statement, does not contain all of the information set forth in the registration statement, certain items of which are contained in the exhibits to the registration statement as permitted by the rules and regulations of the SEC. For further information with respect to the Corporation and the Offering, reference is made to the registration statement and to the schedules and exhibits filed therewith. Statements included in this Prospectus or the documents incorporated by reference herein about the contents of any contract, agreement or other document referred to are not necessarily complete, and in each instance, prospective investors should refer to the copy of the document filed as an exhibit to the registration statement for a complete description of the matter involved. Each such statement is qualified in its entirety by such reference.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation will provide to each person to whom this Prospectus is delivered, without charge, upon request to the Vice President, Investor Relations of the Corporation at 354 Davis Road, Oakville, Ontario, L6J 2X1, Email: </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">7<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_203-fls_pg7"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">InvestorRelations@APUCorp.com, Telephone: (905) 465-4500, copies of the documents incorporated by reference in this Prospectus. The Corporation does not incorporate by reference in this Prospectus any of the information on, or accessible through, its website.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation files certain reports with, and furnishes other information to, each of the SEC and certain securities commissions or similar regulatory authorities of Canada. Under the multijurisdictional disclosure system adopted by Canada and the U.S., such reports and other information may be prepared in accordance with the disclosure requirements of the securities regulatory authorities in the applicable provinces of Canada, which requirements are different from those of the U.S. As a foreign private issuer, the Corporation is exempt from the rules under the U.S. Exchange Act prescribing the furnishing and content of proxy statements, and the Corporation&#8217;s officers and directors are exempt from the reporting and short swing profit recovery provisions contained in Section&#160;16 of the U.S. Exchange Act. The Corporation&#8217;s reports and other information filed or furnished with or to the SEC&#160;are available from the SEC&#8217;s EDGAR system at <u>www.sec.gov</u> as well as from commercial document retrieval services. The Corporation&#8217;s Canadian filings are available on SEDAR at <u>www.sedar.com</u>. Unless specifically incorporated by reference herein, documents filed or furnished by the Corporation on SEDAR or EDGAR are neither incorporated in nor part of this Prospectus.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">8<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_204-bus_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tBOTC"><!--Anchor--></a>BUSINESS OF THE CORPORATION</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 14.5pt; margin-left: 0pt; text-align: left;">General</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Algonquin Power &amp; Utilities Corp. was originally incorporated under the <font style="font-style: italic;">Canada Business Corporations Act</font> on August&#160;1, 1988 as Traduction Militech Translation Inc. Pursuant to articles of amendment dated August&#160;20, 1990 and January&#160;24, 2007, the Corporation amended its articles to change its name to Soci&#233;t&#233; Hydrogenique Incorpor&#233;e &#8211;&#160;Hydrogenics Corporation and Hydrogenics Corporation &#8211; Corporation Hydrogenique, respectively. Pursuant to a certificate and articles of arrangement dated October&#160;27, 2009, the Corporation, among other things, created a new class of common shares, transferred its existing operations to a newly formed independent corporation, exchanged new common shares for all of the trust units of Algonquin Power Co. and changed its name to Algonquin Power &amp; Utilities Corp. The head and registered office of the Corporation is located at 354 Davis Road, Oakville, Ontario, L6J&#160;2X1.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation&#8217;s operations are organized across two primary business units consisting of: the Regulated Services Group, which primarily owns and operates a portfolio of regulated assets in the United States, Canada, Chile and Bermuda; and the Renewable Energy Group, which primarily owns and operates a diversified portfolio of renewable generation assets. The Corporation also undertakes development activities for both business units, working with a global reach to identify, develop, acquire, or invest in renewable power generating facilities, regulated utilities and other complementary infrastructure projects.</div><table cellspacing="0" cellpadding="0" class="txttab" style="margin-top: 4pt; border-collapse: collapse; width: 408pt; margin-left: 30pt;"><tr class="header"><td style="width: 48.53%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Regulated Services Group</div></td><td class="gutter" style="width: 1.47%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.47%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 48.53%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Renewable Energy Group</div></td></tr><tr><td style="width: 48.53%; text-align: center; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Electric Utilities <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Natural Gas Utilities <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Water and Wastewater Utilities <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Natural Gas and Electric Transmission</div></td><td class="gutter" style="width: 1.47%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.47%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 48.53%; text-align: center; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Wind Power Generation <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Solar Generation <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Hydro Electric Generation <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Thermal Co-Generation</div></td></tr></table><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 14pt; margin-left: 0pt; text-align: left;">Regulated Services Group</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Regulated Services Group operates a diversified portfolio of regulated utility systems throughout the United&#160;States, Canada, Chile and Bermuda. The Regulated Services Group seeks to provide safe, high quality and reliable services to its customers and to deliver stable and predictable earnings to the Corporation. In addition to encouraging and supporting organic growth within its service territories, the Regulated Services Group seeks to deliver continued growth in earnings through accretive acquisitions of additional utility systems.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 16pt; margin-left: 0pt; text-align: left;">Renewable Energy Group</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Renewable Energy Group generates and sells electrical energy produced by its diverse portfolio of renewable power generation and clean power generation facilities primarily located across the United States and Canada. The Renewable Energy Group seeks to deliver continuing growth through development of new greenfield power generation projects and accretive acquisitions of additional electric energy generation facilities. The&#160;Renewable Energy Group directly owns and operates hydroelectric, wind, solar, and thermal facilities. In&#160;addition to directly owned and operated assets, the Renewable Energy Group has certain investments in generating assets, which includes the Corporation&#8217;s approximate 44.2% indirect beneficial interest in Atlantica, a NASDAQ-listed company that owns and operates a portfolio of international clean energy and water infrastructure assets. The&#160;Corporation reports its investment in Atlantica under the Renewable Energy Group.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">See &#8220;<font style="font-style: italic;">Description of the Business</font>&#8221; in the AIF and &#8220;<font style="font-style: italic;">Overview and Business Strategy</font>&#8221; in the Corporation&#8217;s most recent interim MD&amp;A.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 16pt; text-align: center;"><a name="tRD"><!--Anchor--></a>RECENT DEVELOPMENTS</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 7pt; margin-left: 0pt; text-align: left;">Proposed Acquisition of Kentucky Power Company and AEP Kentucky Transmission Company</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">On October 26, 2021, the Corporation announced that Liberty Utilities Co. (&#8220;<font style="font-weight: bold;">Liberty Utilities</font>&#8221;), an indirect subsidiary of the Corporation, had entered into an agreement (the&#160;&#8220;<font style="font-weight: bold;">Acquisition&#160;Agreement</font>&#8221;) with American Electric Power Company, Inc. (&#8220;<font style="font-weight: bold;">AEP</font>&#8221;) and, AEP Transmission Company, LLC (&#8220;<font style="font-weight: bold;">AEP TransCo</font>&#8221;, and, together with AEP, the &#8220;<font style="font-weight: bold;">Sellers</font>&#8221;) to acquire Kentucky Power Company (&#8220;<font style="font-weight: bold;">Kentucky Power</font>&#8221;) and AEP Kentucky Transmission Company, Inc. (&#8220;<font style="font-weight: bold;">Kentucky TransCo</font>&#8221; and, together with Kentucky Power, the &#8220;<font style="font-weight: bold;">Acquired Entities</font>&#8221;) for a total </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">9<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_204-bus_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">purchase price of approximately U.S.$2.846&#160;billion, subject to customary closing adjustments, including the assumption of approximately U.S.$1.221&#160;billion in debt (the &#8220;<font style="font-weight: bold;">Acquisition</font>&#8221;). The expected rate base acquisition multiple for the Acquisition is 1.3x based on expected mid-year 2022 rate base of U.S.$2.2 billion. Kentucky Power is a state rate-regulated electricity generation, distribution and transmission utility operating within the Commonwealth of Kentucky, serving approximately 228,000 active customer connections and operating under a cost of service framework. Kentucky TransCo is an electricity transmission business operating in the Kentucky portion of the transmission infrastructure that is part of the Pennsylvania &#8211; New Jersey &#8211; Maryland regional transmission organization (&#8220;<font style="font-weight: bold;">PJM</font>&#8221;). Kentucky Power and Kentucky TransCo are both regulated by the United States Federal Energy Regulatory Commission (&#8220;<font style="font-weight: bold;">FERC</font>&#8221;).</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The closing of the Acquisition is currently expected to occur in the middle of 2022, subject to regulatory and governmental approvals and satisfaction or waiver of all other closing conditions. See &#8220;<font style="font-style: italic;">The Acquisition</font>&#8221;.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; margin-left: 0pt; text-align: left;">Financial Outlook</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">On November&#160;11, 2021, the Corporation is expected to release its financial results for the quarter ending September&#160;30, 2021. Based on currently available, preliminary information, results are estimated to be moderately impacted by lower than forecasted wind resource at certain of the Corporation&#8217;s renewable energy facilities, largely offset by lower than forecasted depreciation and interest expense as well as the self-monetization of tax attributes from its renewable energy facilities.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In addition, the Corporation currently expects its Adjusted Net EPS for the 2021 fiscal year to be in or around the lower end of the Corporation&#8217;s previously-disclosed range of U.S.$0.71 to U.S.$0.76 (see &#8220;<font style="font-style: italic;">Non-GAAP </font><font style="font-style: italic;">Measures</font>&#8221;). This estimate is based on the following assumptions, as well as those set out under &#8220;<font style="font-style: italic;">Cautionary </font><font style="font-style: italic;">Statement on Forward-Looking Statements and Forward-Looking Information</font>&#8221;:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">normalized weather patterns in the geographical areas in which the Corporation operates or has projects;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">a renewable resource estimate and realized pricing that is consistent with long-term averages; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the Corporation being able to obtain favourable regulatory outcomes, including fuel cost recovery at its Missouri electric utility relating to the Midwest Extreme Weather Event; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">absence of adverse supply chain impacts or other delays impacting the estimated placed-in-service timing of the Corporation&#8217;s 2021 construction projects.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation&#8217;s estimated financial results set out in this Prospectus constitute &#8220;forward-looking statements&#8221; and &#8220;forward-looking information&#8221; within the meaning of applicable securities laws. Actual results may differ materially. Accordingly, investors are cautioned not to place undue reliance on these estimates. See &#8220;<font style="font-style: italic;">Cautionary&#160;Statement on Forward-Looking Statements and Forward-Looking Information</font>&#8221;. </div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; text-align: center;"><a name="tTA"><!--Anchor--></a>THE ACQUISITION</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17pt; margin-left: 0pt; text-align: left;">Overview</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">On October 26, 2021, the Corporation announced that Liberty Utilities had entered into the Acquisition Agreement with the Sellers to acquire Kentucky Power and Kentucky TransCo. The aggregate purchase price for the Acquisition is approximately U.S.$2.846&#160;billion, comprised of a cash purchase price of approximately U.S.$1.625 billion and the assumption of approximately U.S.$1.221&#160;billion in debt, subject to customary closing adjustments. The closing of the Acquisition is currently expected to occur in the middle of 2022.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 18pt; margin-left: 0pt; text-align: left;">Acquisition Agreement </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Closing of the Acquisition is subject to receipt of certain regulatory and governmental approvals, including the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (&#8220;<font style="font-weight: bold;">HSR Act</font>&#8221;), clearance of the Acquisition by the Committee on Foreign Investment in the United States (&#8220;<font style="font-weight: bold;">CFIU</font>S&#8221;), the approval by each of the Kentucky Public Service Commission (&#8220;<font style="font-weight: bold;">KPSC</font>&#8221;) and FERC, the approval of the Public Service Commission of West Virginia (&#8220;<font style="font-weight: bold;">WVPSC</font>&#8221;) with respect to the termination and replacement of the existing operating agreement for Kentucky Power&#8217;s 50% interest, representing 780 MW, in a coal-fired power plant located in Moundsville, West Virginia (the &#8220;<font style="font-weight: bold;">Mitchell Plant</font>&#8221;), and the satisfaction of other customary closing </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">10<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_204-bus_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">conditions. The Corporation is subject to a &#8220;no&#160;burdensome condition&#8221; standard to obtain the required regulatory and governmental approvals, provided that the Corporation is not required to agree to any conditions that would have a material adverse effect on the Acquired Entities as a whole. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Acquisition Agreement contains representations, warranties, covenants, indemnities, conditions and termination rights typical of those contained in business acquisition agreements negotiated between sophisticated purchasers and vendors acting at arm&#8217;s length. The representations and warranties shall not survive the completion of the Acquisition, but the Corporation has obtained representation and warranty insurance coverage, which is subject to customary limitations and conditions. In addition, if the Acquisition Agreement is terminated in certain circumstances, including due to a failure to receive required regulatory approvals (other than the approval of the KPSC, FERC or the WVPSC for the termination and replacement of the existing operating agreement for the Mitchell Plant), the Corporation may be required to pay to the Sellers a termination fee of U.S.$65 million. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The parties have also agreed to the forms of the following in the Acquisition Agreement to be entered into at closing: (i)&#160;a transition services agreement for certain services that will be required from Sellers for a transitional period following closing; (ii)&#160;a new 50/50 ownership agreement in respect of the Mitchell Plant as between Kentucky Power and Wheeling Power Company (&#8220;<font style="font-weight: bold;">Wheeling</font>&#8221;), a wholly-owned subsidiary of AEP; (iii)&#160;a new operations agreement for the Mitchell Plant providing that Wheeling shall provide operations and maintenance services, subject to regulatory approval; and (iv)&#160;a compliance agreement governing the terms under which the Mitchell Plant and the Big Sandy natural gas generating facility in Kentucky (the &#8220;<font style="font-weight: bold;">Big Sandy Plant</font>&#8221;) will comply with the consent decree entered in United States, et al. v. American Electric Power Service Corp., et al., Civil Action Nos. C2-99-1182 and C2-99-1250 and United States, et al. v. American Electric Power Service Corp., et al., Civil Action Nos. C2-04-1098 and C2-05-360, and all amendments or modifications thereto, that sets out emissions caps for AEP&#8217;s eastern system generating units. </div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">About the Acquired Entities</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 7.5pt; margin-left: 0pt; text-align: left;">Kentucky Power</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Kentucky Power, a wholly-owned subsidiary of AEP, is a fully regulated vertically integrated utility with electricity generation, distribution and transmission utility business operations. Kentucky Power is headquartered in Ashland, Kentucky and serves approximately 228,000 active customer connections in 20 eastern Kentucky counties. Kentucky Power operates under a cost-of-service framework regulated by the KPSC with current customer rates set in January 2021 through a rate case order that provides for a base return on equity (&#8220;<font style="font-weight: bold;">ROE</font>&#8221;) of 9.3% (with&#160;certain regulatory assets having an approved ROE of 9.1%). Kentucky Power is also regulated by FERC.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Kentucky Power currently (i)&#160;owns and operates approximately 1,060 MWs of generating capacity in the form of two regulated electricity generation facilities (the Mitchell Plant and the Big Sandy Plant), and (ii)&#160;procures electricity under a unit power agreement the (&#8220;<font style="font-weight: bold;">Rockport UPA</font>&#8221;) with a coal generation plant near Rockport, Indiana (the &#8220;<font style="font-weight: bold;">Rockport Plant</font>&#8221;), which expires in December 2022, as well as through market purchases in the PJM.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Kentucky TransCo</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Kentucky TransCo, a wholly-owned subsidiary of AEP TransCo, is a fully regulated electricity transmission business with assets exclusively in Kentucky and operates the Kentucky portion of the transmission infrastructure that is part of the PJM. Kentucky TransCo is regulated by FERC and receives revenues through PJM&#8217;s Open Access Transmission Tariffs (&#8220;<font style="font-weight: bold;">OATT</font>&#8221;) with rates currently set at approximately 10.4% ROE (comprised of an approximately 9.9% base rate plus a 0.5% regional transmission organization incentive adder). </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">11<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_204-bus_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">Acquisition Highlights</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 7.5pt; margin-left: 0pt; text-align: left;">Significant Growth in Regulated Electric Utility Operations</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The acquisition of Kentucky Power and Kentucky TransCo is expected to add over U.S.$2&#160;billion<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> of regulated electricity generation, distribution and transmission rate base assets to the Corporation&#8217;s current portfolio, increasing the Corporation&#8217;s pro forma electric rate base from 63%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> to 72%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> of the Corporation&#8217;s estimated total pro forma rate base calculated as of mid-year 2022. Upon closing of the Acquisition, the Corporation expects its regulated rate base to increase by 32% to approximately U.S. $9&#160;billion<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>, its customer base to increase by 19% to over 1.4<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> million customer connections and to have approximately 41,000<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> miles of distribution and transmission infrastructure, representing a 37% increase. As a result of the Acquisition, the Corporation&#8217;s business mix is expected to shift to nearly 80%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> regulated operations, calculated on a pro forma basis as of mid-year 2022.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Leverages Greening the Fleet Experience &amp; Re-Confirms Leadership in the Energy Transition </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Kentucky Power currently operates two regulated electricity generation facilities (the Mitchell Plant and the Big Sandy Plant in Kentucky), and procures electricity under a unit power agreement with the Rockport Plant as well as through market purchases in PJM. In separate filings, Kentucky Power and Wheeling plan to seek regulatory approval to transfer operational control of the Mitchell Plant to Wheeling and set up Kentucky Power&#8217;s exit from the plant in 2028.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">To support the expiry of the Rockport UPA in 2022 and the expected transfer or retirement (for rate-making purposes in Kentucky) of Kentucky Power&#8217;s 50% ownership interest (representing 780 MW) in the Mitchell Plant in 2028, Kentucky Power is expected to have the opportunity to replace these fossil fuel generation sources, representing an aggregate of over 1 GW of generating capacity, with renewable generation. The addition of this generation would support the transition of Kentucky Power&#8217;s generating mix to non-emitting generation sources and materially reduce the greenhouse gas (&#8220;<font style="font-weight: bold;">GHG</font>&#8221;) emissions intensity of its generation output. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation has significant experience in &#8220;greening&#8221; fleets of regulated fossil fuel generation. In 2017, the Corporation completed the acquisition of The Empire District Electric Company (&#8220;<font style="font-weight: bold;">Empire</font>&#8221;) and recently completed a U.S.$1.1&#160;billion investment in 600 MW of wind generation (&#8220;greening the fleet&#8221;) to support Empire&#8217;s service territory, which included the early retirement of the Asbury Coal Plant, reducing GHG emissions by nearly one million metric tons, a reduction in absolute emissions (scope 1 and 2) by 33% and a 26% reduction in emission intensity through the end of 2020 from 2017 levels at Empire. Similarly, at CalPeco, the Corporation&#8217;s electricity utility in California, the Corporation has implemented similar initiatives, investing approximately U.S.$132&#160;million in the addition of two utility scale solar generation facilities in order to provide clean energy for its California customers, which has contributed to a 38% reduction in absolute emissions (scope 1 and 2) and a 47% reduction in emission intensity through the end of 2020 compared to 2017 levels. </div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 20pt; margin-left: 0pt; text-align: left;">Accretive to Earnings and Maintains Investment Grade Credit Profile</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Based on the financing plan, as disclosed in this Prospectus, and expectations around earnings for Kentucky Power and Kentucky TransCo over the short- and long-term, the Acquisition is expected to (i)&#160;be accretive to Adjusted Net EPS in the first full year of ownership, (ii) generate mid-single digit percentage Adjusted Net EPS accretion thereafter and (iii)&#160;support growth in the Corporation&#8217;s Adjusted Net EPS over the long-term with a financing plan designed to maintain the Corporation&#8217;s investment grade credit ratings.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 20pt; margin-left: 0pt; text-align: left;">Commitment to Kentucky Power&#8217;s Communities, Customers and Employees</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Following the closing of the Acquisition, Kentucky Power will continue to be regulated by the KPSC and FERC, and Kentucky TransCo will continue to be regulated by FERC. The Corporation intends to maintain Kentucky&#160;Power&#8217;s headquarters in the state of Kentucky and enhance investment as well as employment opportunities in the state. As the Corporation integrates Kentucky Power, incremental employment opportunities are expected as certain formerly centralized activities are anticipated to be delivered locally. In&#160;addition, the Corporation expects that Kentucky Power will continue to support the communities in its existing service territories.</div></div><div class="block-footnote" style="width: 468pt; margin-left: 0pt;"><div><div class="rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-top: 3pt; margin-bottom: 1pt; margin-right: auto; margin-left: 0pt;"> </div></div></div><div class="block-footnote" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 10pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6pt;"><font style="position: relative; top: -3.25pt;">1</font><br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6pt; text-align: left;"><font style="font-size: 8pt;">Mid-2022 estimate.</font></div></td></tr></table></div><div class="block-footnote" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 10pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6pt;"><font style="position: relative; top: -3.25pt;">2</font><br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6pt; text-align: left;"><font style="font-size: 8pt;">Mid-2022 estimate, including the Corporation&#8217;s pending acquisition of New York American Water Company, Inc.</font></div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">12<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_204-bus_pg5"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">Net-Zero Target</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">On October&#160;5, 2021, the Corporation announced its target to achieve net-zero by 2050. This target is rooted in the Corporation&#8217;s purpose of <font style="font-style: italic;">sustaining energy and water for life</font> and is a reflection of the Corporation&#8217;s track record of being a leader in the transition to a low-carbon economy. The Corporation&#8217;s longer-term plans with respect to &#8220;greening the fleet&#8221; and decarbonization initiatives at Kentucky Power are aligned with the Corporation&#8217;s purpose and goal of achieving net-zero across the Corporation&#8217;s business operations for scope 1 and scope 2 emissions by 2050.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 18pt; margin-left: 0pt; text-align: left;">Acquisition Financing</div><div class="h5" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 17pt; margin-left: 0pt; text-align: left;"><u>Committed Financing</u> </div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation has obtained a U.S.$2.725 billion syndicated acquisition financing commitment from Canadian Imperial Bank of Commerce and The Bank of Nova Scotia to support the Acquisition (the &#8220;<font style="font-weight: bold;">Acquisition Financing </font><font style="font-weight: bold;">Commitment</font>&#8221;) which funds shall, if drawn, be used for the purposes of financing the cash purchase price of the Acquisition and certain costs associated with the assumption of certain indebtedness of the Acquired Entities and to provide an alternative source of funds for existing intercompany debt of the Acquired Entities. The Acquisition Financing Commitment is subject to customary terms and conditions, including certain commitment reductions upon closing of permanent financing, as further described below.</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Acquisition Financing Commitment consists of (i)&#160;a senior unsecured equity bridge facility in an aggregate principal amount of up to U.S.$1.475&#160;billion, repayable in full on the first anniversary following the initial funding of the Acquisition Financing Commitment (which shall coincide with closing of the Acquisition) (the&#160;&#8220;<font style="font-weight: bold;">Acquisition&#160;Closing Date</font>&#8221;), (ii)&#160;a senior unsecured term credit facility in an aggregate principal amount of up to U.S.$150&#160;million, repayable in full on the second anniversary of the Acquisition Closing Date, and (iii)&#160;a senior unsecured term credit facility in an aggregate principal amount of up to U.S.$1.10&#160;billion, repayable in full on the first anniversary of the Acquisition Closing Date. Subject to certain prescribed exceptions, the Corporation is required to effect certain reductions or prepayments, as applicable, of the Acquisition Financing Commitment in amounts equal to the net cash proceeds of the issuance of any indebtedness, equity securities (including in connection with the Offering) and hybrid securities, any non-ordinary course asset sales or dispositions above certain monetary thresholds, or any reduction in the purchase price under the Acquisition Agreement. See &#8220;<font style="font-style: italic;">Relationship Between the </font><font style="font-style: italic;">Corporation and Certain Underwriters</font>&#8221; </div> <div class="h5" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 18pt; margin-left: 0pt; text-align: left;"><u>Financing Plan</u></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation expects the net proceeds of the Offering to be used to (a) partially finance the Acquisition, and (b) in the short-term, prior to the closing of the Acquisition, to reduce amounts outstanding under existing credit facilities of the Corporation and its subsidiaries, which indebtedness was principally incurred as a result of ordinary course operations and to fund the Corporation&#8217;s previously disclosed growth opportunities. See &#8220;<font style="font-style: italic;">Use of Proceeds</font>&#8221; for further details. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Following closing of the Offering, the Corporation does not expect to raise additional capital by way of the issuance of Common Shares through mid-2022, being the expected timing for closing of the Acquisition. The Corporation expects to satisfy the remainder of the cash purchase price for the Acquisition through a variety of funding sources, which may include a combination of hybrid debt, equity units, and/or the monetization of non-regulated assets or investments. The timing of the remaining financing activities will be influenced by the regulatory approval process for the Acquisition and are subject to prevailing market conditions. The Corporation&#8217;s financing plan is designed to maintain its investment grade credit ratings.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 18pt; text-align: center;"><a name="tDOTCS"><!--Anchor--></a>DESCRIPTION OF THE COMMON SHARES</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The authorized share capital of the Corporation consists of an unlimited number of Common Shares and an unlimited number of preferred shares issuable in one or more series. As of October 26, 2021, there were 627,798,826 Common Shares, 4,800,000 cumulative rate reset preferred shares, series A, nil cumulative floating rate preferred shares, series&#160;B, 100 series C preferred shares, 4,000,000 cumulative rate reset preferred shares, series D, nil cumulative floating rate preferred shares, series E, nil series F preferred shares and nil series G preferred shares outstanding.</div> </div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">13<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_204-bus_pg6"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following description of the Common Shares is a summary of certain of their material attributes and characteristics which does not purport to be complete. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The holders of Common Shares are entitled to dividends if, as and when declared by the board of directors of the Corporation, to one vote per share at meetings of the holders of Common Shares and to receive a pro rata share of any remaining property and assets of the Corporation upon liquidation, dissolution or winding up of the Corporation. All Common Shares are of the same class and with equal rights and privileges and are not subject to future calls or assessments.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation declared and paid a quarterly dividend of U.S.$0.1706 per Common Share for the third quarter of 2021, which translates to a total annual dividend of U.S.$0.6824 per Common Share. However, any future determination to pay dividends will be at the discretion of the Corporation&#8217;s board of directors and will be dependent upon the Corporation&#8217;s cash flow from operations, financial condition, financial leverage, working capital requirements and investment opportunities, as well as general economic conditions and other factors deemed relevant by the Corporation&#8217;s board of directors.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation has adopted a shareholder rights plan as amended, restated and continued as of June&#160;6, 2019 and approved by shareholders on June&#160;9, 2019. A copy of the shareholder rights plan has been filed with the securities regulatory authority in each of the provinces of Canada and is available electronically at www.sedar.com. For additional information on the shareholder rights plan, see &#8220;<font style="font-style: italic;">Shareholders&#8217; Rights Plan</font>&#8221; in the AIF.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">14<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_205-use_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tUOP"><!--Anchor--></a>USE OF PROCEEDS</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The net proceeds to the Corporation from the Offering will be $768,049,920 after payment of the underwriting commission of $32,002,080 but before deducting expenses of the Offering, which are estimated to be approximately $1.4 million and will be paid from the general funds of the Corporation. In the event that the Over-Allotment Option is exercised in full, the net proceeds before deducting expenses of the Offering will be, in the aggregate, $883,257,408. </div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation expects that the net proceeds of the Offering will be used to (a) partially finance the Acquisition, and (b) in the short-term, prior to the closing of the Acquisition, to reduce amounts outstanding under existing credit facilities of the Corporation and its subsidiaries, which indebtedness was principally incurred as a result of ordinary course operations and to fund the Corporation&#8217;s previously disclosed growth opportunities. </div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">While the Corporation intends to use the net proceeds as set out above, the Offering is not conditional upon the closing of the Acquisition. If the Acquisition is not completed, management of the Corporation will have discretion concerning the use of proceeds of the Offering as well as the timing of such expenditures. See &#8220;Risk Factors&#8221;. </div> <div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; text-align: center;"><a name="tCC"><!--Anchor--></a>CONSOLIDATED CAPITALIZATION</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Upon completion of the Offering, the Corporation will have an aggregate of approximately 671,878,826 Common Shares outstanding (assuming no exercise of outstanding stock options or of the Over-Allotment Option and excluding any Common Shares issuable pursuant to the Corporation&#8217;s employee share purchase plan and other similar purchase plans (as amended from time to time)), or, assuming exercise of the Over-Allotment Option in full (and no exercise of outstanding stock options and excluding any Common Shares issuable pursuant to the Corporation&#8217;s employee share purchase plan and other similar purchase plans (as amended from time to time)), approximately 678,490,826 Common Shares outstanding. </div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following table sets forth the unaudited consolidated capitalization of the Corporation as at June&#160;30, 2021, and the unaudited <font style="font-style: italic;">pro forma</font> consolidated capitalization of the Corporation as at June 30, 2021 after giving effect to: (i)&#160;the net proceeds of the Offering assuming no exercise of the Over-Allotment Option, determined after deducting the Underwriters&#8217; fee and estimated expenses of the Offering on an after-tax basis and (ii)&#160;the short-term application of the net proceeds, prior to the closing of the Acquisition, to reduce amounts outstanding under the existing credit facilities of the Corporation and its subsidiaries. See &#8220;<font style="font-style: italic;">Use of Proceeds</font>&#8221; and &#8220;The Acquisition&#8212;Acquisition Financing&#8212;Financing Plan&#8221; for further details. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The financial information set out in the following table has been compiled based on financial statements prepared in accordance with U.S. GAAP:</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> </div> <table cellspacing="0" cellpadding="0" class="fintab" style="border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 2.39%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 11.58%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As at <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">June&#160;30, 2021 <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(unaudited U.S. <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">$ in million)</div></td><td class="gutter" style="width: 2.39%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 2.39%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 12.2%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Pro forma as <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">at June&#160;30, 2021 <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(unaudited U.S. <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">$ in million)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup> </div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total Debt<font style="padding-left: 1.32pt;"></font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 7.1pt; text-align: left;"><font style="padding-left: 10pt;">6,622.4</font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.54pt; text-align: left;"><font style="padding-left: 10pt;">6,002.9</font></div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Shareholders&#8217; equity<br></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Common Shares<font style="padding-left: 2.29pt;"></font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 7.1pt; text-align: left;"><font style="padding-left: 10pt;">5,251.8</font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.54pt; text-align: left;"><font style="padding-left: 10pt;">5,871.3</font></div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Preferred Shares<font style="padding-left: 2.32pt;"></font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 7.1pt; text-align: left;"><font style="padding-left: 17.5pt;">184.3</font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.54pt; text-align: left;"><font style="padding-left: 17.5pt;">184.3</font></div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Additional paid-in capital<font style="padding-left: 0.09pt;"></font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 7.1pt; text-align: left;"><font style="padding-left: 30pt;">&#8212;</font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.54pt; text-align: left;"><font style="padding-left: 30pt;">&#8212;</font></div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">(Deficit)<font style="padding-left: 0.08pt;"></font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 7.1pt; text-align: left;"><font style="padding-left: 14.17pt;">(205.8)</font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.54pt; text-align: left;"><font style="padding-left: 14.17pt;">(205.8)</font></div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Accumulated other comprehensive loss<font style="padding-left: 4.56pt;"></font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 7.1pt; text-align: left;"><font style="padding-left: 19.17pt;">(56.1)</font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.54pt; text-align: left;"><font style="padding-left: 19.17pt;">(56.1)</font></div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Redeemable non-controlling interest<font style="padding-left: 1.77pt;"></font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 7.1pt; text-align: left;"><font style="padding-left: 17.5pt;">323.5</font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.54pt; text-align: left;"><font style="padding-left: 17.5pt;">323.5</font></div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Non-Controlling Interest<font style="padding-left: 4.53pt;"></font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 7.1pt; text-align: left;"><font style="padding-left: 10pt;">1,474.8</font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.54pt; text-align: left;"><font style="padding-left: 10pt;">1,474.8</font></div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 66.67%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total capitalization<font style="padding-left: 1.89pt;"></font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.58%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: -10pt; text-align: left;"><font style="border-bottom: 3pt double #000000; min-width: 40pt;">U.S.</font><font style="border-bottom: 3pt double #000000; min-width: 40pt;">$13,594.9</font></div></td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.39%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 12.2%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: -10pt; text-align: left;"><font style="border-bottom: 3pt double #000000; min-width: 40pt;">U.S.$13,594.9</font></div></td></tr></table> <div><div class="rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 0pt; margin-top: 13.25pt;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(1)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">The net proceeds of the Offering were converted from Canadian dollars to U.S. dollars using the daily exchange rate as reported by the Bank of Canada on October 26, 2021 of $1.00 = U.S.$0.8080. </div></td></tr></table> </div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">15<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_206-plan_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tPOD"><!--Anchor--></a>PLAN OF DISTRIBUTION</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Subject to the terms and conditions set forth in an underwriting agreement dated as of October&#160;27, 2021 (the &#8220;<font style="font-weight: bold;">Underwriting Agreement</font>&#8221;) among the Corporation and the Underwriters, the Corporation has agreed to sell to the Underwriters, and each of the Underwriters has agreed, severally (and not jointly or jointly and severally) to purchase from the Corporation, as principals, the number of Common Shares set forth opposite its name below, in cash at the Offering Price of $18.15 per Common Share, against delivery of the Common Shares on the Closing Date.</div> <table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 76.92%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Underwriter</div></td><td class="gutter" style="width: 1.13%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.13%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of Common Shares</div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">CIBC World Markets Inc.<font style="font-weight: normal; padding-left: 2.99pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 5pt;">9,807,80</font>1</div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Scotia Capital Inc.<font style="font-weight: normal; padding-left: 1.69pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 5pt;">9,807,800</font> </div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">BMO Nesbitt Burns Inc.<font style="font-weight: normal; padding-left: 0.59pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 5pt;">4,408,000</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">National Bank Financial Inc.<font style="font-weight: normal; padding-left: 1.68pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 5pt;">4,408,000</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">RBC Dominion Securities Inc.<font style="font-weight: normal; padding-left: 1.16pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 5pt;">4,408,000</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">TD Securities Inc.<font style="font-weight: normal; padding-left: 3.92pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 5pt;">4,408,000</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Morgan Stanley Canada Limited<font style="font-weight: normal; padding-left: 4.2pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 5pt;">2,204,000</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Desjardins Securities Inc.<font style="font-weight: normal; padding-left: 1.72pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 5pt;">1,028,533</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">iA Private Wealth Inc. <font style="font-weight: normal; padding-left: 1.87pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 5pt;">1,028,533</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Raymond James Ltd.<font style="font-weight: normal; padding-left: 4.47pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 5pt;">1,028,533</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">J.P. Morgan Securities Canada Inc.<font style="font-weight: normal; padding-left: 3.19pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 12.5pt;">440,800</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Merrill Lynch Canada Inc.<font style="font-weight: normal; padding-left: 0.03pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 12.5pt;">440,800</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Wells Fargo Securities Canada Ltd.<font style="font-weight: normal; padding-left: 2.26pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 12.5pt;">440,800</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">HSBC Securities (Canada) Inc.<font style="font-weight: normal; padding-left: 2.27pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;"><font style="padding-left: 12.5pt;">220,400</font></div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Total<font style="padding-left: 2.09pt;"></font></div></td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.13%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.22pt; text-align: left;">44,080,000</div></td></tr></table> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Underwriting Agreement provides that, in consideration of the services of the Underwriters in connection with the Offering, the Corporation will pay the Underwriters a fee of $0.726 per Common Share issued and sold as part of the Offering. Assuming the Over-Allotment Option is not exercised, the total price to the public, underwriting commission and net proceeds to the Corporation, before deducting expenses of the Offering, will be $800,052,000, $32,002,080 and $768,049,920, respectively. The Underwriters&#8217; fee in respect of the Offering is payable on the Closing Date. The expenses of the Offering payable by the Corporation, not including the underwriting commission, are estimated at approximately $1.4 million. </div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation has granted to the Underwriters the Over-Allotment Option to purchase up to an additional 6,612,000 Common Shares on the same terms and conditions as the Offering, exercisable in whole or in part on one occasion prior to 5:00 p.m. (Toronto time) on the 30<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> day following the Closing Date solely (i)&#160;for the purpose of covering over-allotments that exist on the Closing Date, if any, and (ii)&#160;for market stabilization purposes. A purchaser who acquires Common Shares forming part of the Underwriters&#8217; over-allocation position acquires those Common Shares under this Prospectus, regardless of whether the over-allocation position is ultimately filled through the exercise of the Over-Allotment Option or through secondary market purchases. If the Underwriters exercise the Over-Allotment Option in full, the total price to the public, underwriting commission and net proceeds to the Corporation, before deducting expenses of the Offering, will be $920,059,800, $36,802,392 and $883,257,408, respectively. This Prospectus qualifies the issuance of Common Shares upon exercise of the Over-Allotment Option.</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The terms of the Offering were established through negotiation between the Corporation and the Lead Underwriters, on their own behalf and on behalf of the other Underwriters.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The obligations of the Underwriters under the Underwriting Agreement are several and not joint or joint and several and may be terminated at their discretion upon the occurrence of certain stated events specified in the Underwriting Agreement including the &#8220;regulatory out&#8221;, &#8220;litigation out&#8221;, &#8220;breach out&#8221;, &#8220;material change out&#8221; and &#8220;disaster out&#8221; provisions in the Underwriting Agreement. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation has agreed to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act and applicable Canadian securities laws, or to contribute to payments the Underwriters may be required to make in respect of those liabilities. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If an Underwriter fails or refuses to purchase the Common Shares which it has agreed to purchase, the other Underwriters may, but are not obligated to, purchase such Common Shares; provided, however, that in the event that </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">16<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_206-plan_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">the percentage is 10% or less of the total number of Common Shares which the Underwriters have agreed to purchase, the other Underwriters shall be obligated severally to purchase on a pro rata basis the Common Shares which would otherwise have been purchased by the one or more Underwriters which failed or refused to purchase. The Underwriters are, however, obligated to take up and pay for all Common Shares (other than pursuant to the Over-Allotment Option except to the extent it shall have been exercised) if any are purchased under the Underwriting Agreement.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Underwriters are offering the Common Shares, subject to prior sale, if, as and when issued to and accepted by them, subject to certain conditions contained in the Underwriting Agreement.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Public Offering Price for the Common Shares is payable in Canadian dollars only. All of the proceeds of the Offering will be paid to the Corporation by the Underwriters in Canadian dollars based on the Canadian dollar Public Offering Price. The Underwriters propose to offer the Common Shares initially at the Public Offering Price. After a reasonable effort has been made to sell all of the Common Shares at the Public Offering Price, the Underwriters may subsequently reduce the selling price to investors from time to time in order to sell any of the Common Shares remaining unsold. Any such reduction will not affect the net proceeds received by the Corporation pursuant to the Offering. In the event the Public Offering Price of the Common Shares is reduced, the compensation received by the Underwriters will be decreased by the amount by which the aggregate price paid by the purchasers for the Common Shares is less than the gross proceeds paid to the Corporation by the Underwriters for the Common Shares.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Subscriptions for Common Shares will be received subject to rejection or allotment in whole or in part, and the right is reserved to close the subscription books at any time without notice.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Offering is being made concurrently in each of the provinces of Canada and the United States pursuant to the multi-jurisdictional disclosure system implemented by the securities regulatory authorities in Canada and the SEC. The Common Shares will be offered in Canada and the United States by the Underwriters either directly or through their respective Canadian or U.S. broker dealer affiliates or agents, as applicable. No Common Shares offered hereunder will be offered or sold in any jurisdiction except by or through brokers or dealers duly registered under the applicable securities laws of that jurisdiction, or in circumstances where an exemption from such registered dealer requirements is available.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; margin-left: 0pt; text-align: left;">Listing</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation&#8217;s outstanding Common Shares are listed on the TSX and the NYSE under the symbol &#8220;AQN&#8221;. The Corporation has applied to the TSX and the NYSE to list the Common Shares being issued under this Prospectus. Listing of such Common Shares on the TSX and the NYSE will be subject to the Corporation fulfilling all of the listing requirements of the TSX and the NYSE, as applicable. There can be no assurance that such Common Shares will be accepted for listing on the TSX or the NYSE, as the case may be. </div> <div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; margin-left: 0pt; text-align: left;">No Sales of Similar Securities</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation has agreed that, without the prior written consent of the Lead Underwriters, on behalf of the Underwriters (such consent not to be unreasonably withheld), the Corporation will not, and will not publicly disclose an intention to, for a period of 60 days from the Closing Date, (A)&#160;offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Common Shares or any securities convertible into or exercisable or exchangeable for Common Shares; (B) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of Common Shares, whether any such transaction described in clause (A) or (B) above is to be settled by delivery of Common Shares or such other securities, in cash or otherwise; or (C) file any prospectus or registration statement with the Ontario Securities Commission or the SEC relating to the offering of any Common Shares or any securities convertible into or exercisable or exchangeable for Common Shares.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Notwithstanding the above, the restrictions contained in the foregoing sentence shall not apply to (1) the Common Shares to be issued and sold hereunder, (2) the issuance by the Corporation of Common Shares upon the exercise of an option, warrant or purchase contract or the conversion of a security outstanding on the date hereof as described in this Prospectus (including the documents incorporated by reference herein), (3) the issuance by the Corporation of any Common Shares or options to acquire Common Shares or other award, right or grant pursuant </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">17<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_206-plan_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">to the Corporation&#8217;s stock option plan, deferred share unit plan, performance and restricted share unit plan or employee share purchase plan existing on the date hereof and described in this Prospectus (including the documents incorporated by reference herein) and the issuance of Common Shares in connection with the exercise or vesting of any such options, awards rights or grants, (4) the issuance by the Corporation of any Common Shares pursuant to its dividend reinvestment plan as described in this Prospectus (including the documents incorporated by reference herein), or (5)&#160;the filing of any base shelf prospectus, any prospectus supplement or registration statement for the renewal of the Corporation&#8217;s ATM Program (as defined herein) or any registration statement for the renewal of the Corporation&#8217;s dividend reinvestment plan, provided in respect of item (5) that, without the prior written consent of the Lead Underwriters, on behalf of the Underwriters (such consent not to be unreasonably withheld), no Common Shares or any securities convertible into or exercisable or exchangeable for Common Shares may be distributed in respect of such base shelf prospectus, prospectus supplement or registration statement and the Corporation may not publicly disclose an intention in respect of any such distribution during such 60 day period following the Closing Date.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; margin-left: 0pt; text-align: left;">Price Stabilization, Short Positions</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Pursuant to policy statements of certain securities regulators, the Underwriters may not, throughout the period of distribution, bid for or purchase Common Shares. The policy statements allow certain exceptions to the foregoing prohibitions. The Underwriters may only avail themselves of such exceptions on the condition that the bid or purchase not be engaged in for the purpose of creating actual or apparent active trading in, or raising the price of, the Common Shares. These exceptions include a bid or purchase permitted under the Universal Market Integrity Rules for Canadian Marketplaces of the Investment Industry Regulatory Organization of Canada, relating to market stabilization and passive market making activities and a bid or purchase made for and on behalf of a customer where the order was not solicited during the period of distribution. Pursuant to the first mentioned exception, in connection with the Offering, the Underwriters may over-allot or effect transactions which stabilize or maintain the market price of the Common Shares at levels other than those which otherwise might prevail on the open market. Such transactions, if commenced, may be discontinued at any time.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Until the distribution of the Common Shares is completed, SEC rules may limit the Underwriters from bidding for and purchasing Common Shares. We have been advised by the Underwriters that, in connection with the Offering, the Underwriters may effect transactions that stabilize or maintain the market price of the Common Shares at levels other than those that might otherwise prevail in the open market. If the Underwriters create a short position in the Common Shares in connection with the Offering (i.e., if they sell more Common Shares than are listed on the cover of this Prospectus), the Underwriters may reduce that short position by purchasing Common Shares in the open market. The Underwriters may also elect to reduce any short position by exercising the Over-Allotment Option in full or in part as described above. Purchases of Common Shares to stabilize the price or to reduce a short position may cause the price of the Common Shares to be higher than it might be otherwise be in the absence of such purchases. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Neither the Corporation nor any of the Underwriters make any representation or prediction as to the direction or magnitude of any effect that the transactions described above may have on the price of the Common Shares. In addition, neither the Corporation nor any of the Underwriters make any representation that the Underwriters will engage in these transactions or that these transactions, once commenced, will not be discontinued without notice.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; margin-left: 0pt; text-align: left;">Other Relationships</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Some of the Underwriters and their affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings in the ordinary course of business with the Corporation or its affiliates. They have received, or may in the future receive, customary fees and commissions for these transactions. In particular, affiliates of certain of the Underwriters are lenders under the Corporation and its subsidiaries&#8217; credit facilities, and have provided the Acquisition Financing Commitment, for which they have received, and in the future would receive, customary fees. In addition, certain of the Underwriters or their affiliates act as agents in respect of the Corporation&#8217;s ATM Program (as defined herein) for which they may in the future receive customary fees.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In addition, in the ordinary course of their business activities, the Underwriters and their affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers. Such investments and securities activities may involve securities and/or instruments of ours or our affiliates. Certain of the Underwriters or their affiliates have a lending relationship with the Corporation and routinely hedge, and certain other of those Underwriters or </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">18<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_206-plan_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">their affiliates may hedge, their credit exposure to the Corporation consistent with their customary risk management policies. Typically, these Underwriters and their affiliates would hedge such exposure by entering into transactions which consist of either the purchase of credit default swaps or the creation of short positions in the Corporation&#8217;s securities. Any such credit default swaps or short positions could adversely affect future trading prices of the Common Shares. The Underwriters and their affiliates may also make investment recommendations and/or publish or express independent research views in respect of such securities or financial instruments and may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">See &#8220;<font style="font-style: italic;">Relationship Between the Corporation and Certain Underwriters</font>&#8221;.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 18pt; margin-left: 0pt; text-align: left;">Settlement</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Registration of interests in and transfers of the Common Shares will be made only through a book-entry only system administered by CDS. On or about November 8, 2021, the expected Closing Date, or on such later date as the Corporation and the Underwriters may agree, the Corporation will deliver to CDS certificates evidencing, or will make an electronic deposit to CDS of, the aggregate number of Common Shares subscribed for under the Offering. Common Shares must be purchased and transferred through a participant in CDS (a &#8220;<font style="font-weight: bold;">CDS Participant</font>&#8221;). All rights of an owner of Common Shares must be exercised through, and all payments or other property to which such owner is entitled will be made or delivered by, CDS or the CDS Participant through which the owner holds Common Shares. Upon purchase of any Common Shares, the owner will receive only the customary confirmation. References in this Prospectus to a holder of Common Shares means, unless the context otherwise requires, the owner of the beneficial interest in such shares.</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The ability of a beneficial owner of Common Shares to pledge the Common Shares or otherwise take action with respect to such owner&#8217;s interest in such shares (other than through a CDS Participant) may be limited due to the lack of a physical certificate. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Neither the Corporation nor the Underwriters will assume any liability for: (a) any aspect of the records relating to the beneficial ownership of the Common Shares held by CDS or the payments relating thereto; (b) maintaining, supervising or reviewing any records relating to the Common Shares; or (c) any advice or representation made by or with respect to CDS and those contained in this Prospectus and relating to the rules governing CDS or any action to be taken by CDS or at the direction of its CDS Participants. The rules governing CDS provide that it acts as the agent and depository for the CDS Participants. As a result, CDS Participants must look solely to CDS and persons, other than CDS Participants, having an interest in the Common Shares must look solely to CDS Participants for payments made by or on behalf of the Corporation to CDS in respect of the Common Shares.</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation expects that delivery of the Common Shares will be made against payment therefor on or about the Closing Date, which is expected to be the third business day following the date of the final Prospectus (this settlement cycle being referred to as &#8220;T+3&#8221;). Under Rule 15c6-1 of the U.S. Exchange Act, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade Common Shares on any date prior to two U.S. business days before delivery will be required, by virtue of the fact that the Common Shares initially will settle in T+3, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Common Shares who wish to make such trades should consult their own advisor.</div> <div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 18pt; margin-left: 20pt; text-align: left;">Selling Restrictions </div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 7pt; margin-left: 20pt; text-align: left;">Notice to Prospective Investors in the European Economic Area and the United Kingdom </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Common Shares are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area (&#8220;EEA&#8221;) or in the U.K. For these purposes, a retail investor means a person who is one (or more) of: (i)&#160;a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, &#8220;MiFID II&#8221;); or (ii)&#160;a customer within the meaning of Directive 2002/92/EC (as amended, the &#8220;Insurance Mediation Directive&#8221;), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii)&#160;not a qualified investor as defined in Directive 2003/71/EC (as amended, the &#8220;Prospectus Directive&#8221;). Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the &#8220;PRIIPs Regulation&#8221;) for offering or selling the Common Shares or otherwise making them available to retail investors in the EEA or the U.K. has been prepared and therefore offering or selling the Common Shares or otherwise making them available to any retail investor in the EEA or U.K. may be unlawful under the PRIIPS Regulation. This Prospectus been prepared on the basis that any offer of </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">19<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_206-plan_pg5"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">Common Shares in any Member State of the EEA or in the U.K. will be made pursuant to an exemption under the Prospectus Directive from the requirement to publish a prospectus for offers of Common Shares. The Prospectus is not a prospectus for the purposes of the Prospectus Directive. References to Regulations or Directives include, in relation to the U.K., those Regulations or Directives as they form part of U.K. domestic law by virtue of the European Union (Withdrawal) Act 2018 or have been implemented in U.K. domestic law, as appropriate.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The above selling restriction is in addition to any other selling restriction set out below.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 20pt; text-align: left;">Additional Notice to Prospective Investors in the United Kingdom</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In addition, in the United Kingdom, this document is being distributed only to, and is directed only at, and any offer subsequently made may only be directed at persons who are &#8220;qualified investors&#8221; (as defined in the Prospectus Directive) (i)&#160;who have professional experience in matters relating to investments falling within Article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the &#8220;Order&#8221;) and/or (ii)&#160;who are high net worth companies (or persons to whom it may otherwise be lawfully communicated) falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as &#8220;relevant persons&#8221;). This document must not be acted on or relied on in the United Kingdom by persons who are not relevant persons. In the United Kingdom, any investment or investment activity to which this document relates is only available to, and will be engaged in with, relevant persons.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 20pt; text-align: left;">Notice to Prospective Investors in Hong Kong</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Common Shares have not been offered or sold and will not be offered or sold in Hong Kong, by means of any document, other than (a) to &#8220;professional investors&#8221; as defined in the Securities and Futures Ordinance (Cap.&#160;571) of Hong Kong and any rules made under that Ordinance; or (b) in other circumstances which do not result in the document being a &#8220;prospectus&#8221; as defined in the Companies Ordinance (Cap. 32) of Hong Kong or which do not constitute an offer to the public within the meaning of that Ordinance. No advertisement, invitation or document relating to the Common Shares has been or may be issued or has been or may be in the possession of any person for the purposes of issue, whether in Hong Kong or elsewhere, which is directed at, or the contents of which are likely to be accessed or read by, the public of Hong Kong (except if permitted to do so under the securities laws of Hong&#160;Kong) other than with respect to the Common Shares which are or are intended to be disposed of only to persons outside Hong Kong or only to &#8220;professional investors&#8221; as defined in the Securities and Futures Ordinance and any rules made under that Ordinance.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 20pt; text-align: left;">Notice to Prospective Investors in Japan</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Common Shares have not been and will not be registered under the Financial Instruments and Exchange Law of Japan (the &#8220;Financial Instruments and Exchange Law&#8221;) and each Underwriter has agreed that it will not offer or sell any Common Shares, directly or indirectly, in Japan or to, or for the benefit of, any resident of Japan (which term as used herein means any person resident in Japan, including any corporation or other entity organized under the laws of Japan), or to others for re-offering or resale, directly or indirectly, in Japan or to a resident of Japan, except pursuant to an exemption from the registration requirements of, and otherwise in compliance with, the Financial Instruments and Exchange Law and any other applicable laws, regulations and ministerial guidelines of Japan.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 20pt; text-align: left;">Notice to Prospective Investors in Singapore</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This Prospectus has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this Prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the Common Shares may not be circulated or distributed, nor may the Common Shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i)&#160;to an institutional investor under Section 274 of the Securities and Futures Act, Chapter&#160;289 of Singapore (the &#8220;SFA&#8221;), (ii)&#160;to a relevant person pursuant to Section 275(1), or any person pursuant to Section 275(1A), and in accordance with the conditions specified in Section 275, of the SFA, or (iii)&#160;otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Where the Common Shares are subscribed or purchased under Section 275 of the SFA by a relevant person which is:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(a)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">a corporation (which is not an accredited investor (as defined in Section 4A of the SFA)) the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor; or</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">20<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_206-plan_pg6"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(b)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an accredited investor,</div></td></tr></table><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">securities (as defined in Section 239(1) of the SFA) of that corporation or the beneficiaries&#8217; rights and interest (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the Common Shares pursuant to an offer made under Section 275 of the SFA except:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(a)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to an institutional investor or to a relevant person defined in Section 275(2) of the SFA, or to any person arising from an offer referred to in Section 275(1A) or Section 276(4)(i)(B) of the SFA;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(b)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">where no consideration is or will be given for the transfer;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(c)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">where the transfer is by operation of law;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(d)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">as specified in Section 276(7) of the SFA; or</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(e)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">as specified in Regulation 32 of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations 2005 of Singapore.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Singapore Securities and Futures Act Product Classification &#8211; Solely for the purposes of its obligations pursuant to sections 309B(1)(a) and 309B(1)(c) of the SFA, the Corporation has determined, and hereby notifies all relevant persons (as defined in Section 309A of the SFA) that the Common Shares are &#8220;prescribed capital markets products&#8221; (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 20pt; text-align: left;">Notice to Prospective Investors in Australia</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">No placement document, prospectus, product disclosure statement or other disclosure document has been lodged with the Australian Securities and Investments Commission, or ASIC, in relation to the Offering. This Prospectus does not constitute a prospectus, product disclosure statement or other disclosure document under the Corporations Act. Any offer in Australia of the Common Shares offered by this Prospectus may only be made to persons (the &#8220;Exempt Investors&#8221;) who are &#8220;sophisticated investors&#8221; (within the meaning of section 708(8) of the Corporations Act), &#8220;professional investors&#8221; (within the meaning of section 708(11) of the Corporations Act) or otherwise pursuant to one or more exemptions contained in section 708 of the Corporations Act so that it is lawful to offer the Common Shares without disclosure to investors under Chapter 6D of the Corporations Act. The Common Shares applied for by Exempt Investors in Australia must not be offered for sale in Australia for a period of 12 months after the date of allotment under the Offering, except in circumstances where disclosure to investors under Chapter 6D of the Corporations Act would not be required pursuant to an exemption under section 708 of the Corporations Act or otherwise or where the offer is pursuant to a disclosure document which complies with Chapter 6D of the Corporations Act. Any person acquiring shares must observe such Australian on-sale restrictions. This Prospectus contains general information only and does not take account of the investment objectives, financial situation or particular needs of any particular person. It does not contain any securities recommendations or financial product advice. Before making an investment decision, investors need to consider whether the information in this Prospectus is appropriate to their needs, objectives and circumstances, and, if necessary, seek expert advice on those matters.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 20pt; text-align: left;">Notice to Prospective Investors in Switzerland</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Common Shares offered by this Prospectus may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange, or SIX, or on any other stock exchange or regulated trading facility in Switzerland. This document has been prepared without regard to the disclosure standards for issuance prospectuses under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for listing prospectuses under art. 27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading facility in Switzerland. Neither this document nor any other offering or marketing material relating to the Common Shares or the Offering may be publicly distributed or otherwise made publicly available in Switzerland. Neither this document nor any other offering or marketing material relating to the Offering, us or the Common Shares have been or will be filed with or approved by any Swiss regulatory authority. In particular, this document will not be filed with, and the offer of Common Shares will not be supervised by, the Swiss Financial Market Supervisory Authority FINMA (FINMA), and any offers of Common Shares have not been and will not be authorized under the Swiss Federal Act on Collective Investment Schemes, or &#8220;CISA.&#8221; The investor protection afforded to acquirers of interests in collective investment schemes under the CISA does not extend to acquirers of the Common Shares.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">21<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tRBTCACU"><!--Anchor--></a>RELATIONSHIP BETWEEN THE CORPORATION AND CERTAIN UNDERWRITERS </div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation expects that the net proceeds of the Offering will be used to (a) partially finance the Acquisition, and (b) in the short-term, prior to the closing of the Acquisition, to reduce amounts outstanding under existing credit facilities of the Corporation and its subsidiaries, which indebtedness was principally incurred as a result of ordinary course operations and to fund the Corporation&#8217;s previously disclosed growth opportunities. </div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">CIBC World Markets Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., Morgan Stanley Canada Limited, Desjardins Securities Inc., J.P. Morgan Securities Canada Inc., Merrill Lynch Canada Inc., Wells Fargo Securities Canada, Ltd. and HSBC Securities (Canada) Inc. are affiliates of financial institutions which are lenders (the &#8220;<font style="font-weight: bold;">Lenders</font>&#8221;) to the Corporation, Algonquin Power Co. (&#8220;<font style="font-weight: bold;">APCo</font>&#8221;) (a trust of which the Corporation is the sole unitholder), Liberty Utilities and/or Bermuda Electric Light Company Limited (&#8220;<font style="font-weight: bold;">BELCO</font>&#8221;) (a subsidiary of the Corporation) under their respective credit facilities. In addition, affiliates of the Lead Underwriters have provided the Acquisition Financing Commitment to the Corporation and/or its subsidiaries in connection with the Acquisition. The Corporation also engaged CIBC World Markets Inc. and Morgan Stanley &amp; Co. LLC as financial advisors for the Acquisition. Accordingly, the Corporation may be considered to be a connected issuer of each of the above-named Underwriters under applicable securities laws.</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">As of October 15, 2021 there was approximately: (i) U.S.$215.0 million drawn and U.S.$1.7 million and $2.6 million in outstanding letters of credit under the Corporation&#8217;s revolving credit facility; (ii) no amounts drawn on the Corporation&#8217;s revolving credit facility entered into on October 5, 2020; (iii) U.S.$390.0 million drawn and U.S.$38.8 million and $4.9 million in outstanding letters of credit under APCo&#8217;s revolving credit facility; (iv) U.S.$354.0 million drawn and U.S.$72.9 million in outstanding letters of credit under Liberty Utilities&#8217; revolving credit facility; (v) U.S.$499.0 million in commercial paper issued by Liberty Utilities; (vi) no amounts drawn under the revolving credit facility of Liberty Utilities entered into October 5, 2020; (vii) U.S.$100.7 million and $36.8&#160;million outstanding letters of credit under APCo&#8217;s letter of credit facility; and (viii) U.S.$74.8 million drawn under BELCO&#8217;s revolving credit facility. The Corporation, APCo, Liberty Utilities and BELCO are in compliance with all material terms of the agreements governing the respective facilities and the Lenders have not waived any material breach of the agreements governing such credit facilities since their execution. </div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The decision to distribute the Common Shares offered hereby and the determination of the terms of the distribution were made through negotiations primarily between the Corporation and the Lead Underwriters, on their own behalves and on behalf of the other Underwriters. The Lenders were not involved in the decision to offer the Common Shares and will not be involved in the determination of the terms of the distribution of the Common Shares. Each of the Underwriters will receive its proportionate share of the aggregate underwriting commission payable by the Corporation to the Underwriters.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">22<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tTPAV"><!--Anchor--></a>TRADING PRICES AND VOLUMES</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 18.5pt; margin-left: 0pt; text-align: left;">Common Shares</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The outstanding Common Shares are traded on the TSX and the NYSE under the trading symbol &#8220;AQN&#8221;.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following table sets forth the high and low price for, and the volume of trading in, the Common Shares on the TSX for the periods indicated, based on information obtained from the TSX.</div> <table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 3.75pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3.75pt;">&#8203;</td><td class="gutter" style="width: 1.92%; font-size: 2pt; padding-top: 6pt; padding-bottom: 3.75pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td colspan="4" style="width: 13.46%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 3.75pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Price ($)</div></td><td class="gutter" style="width: 1.92%; font-size: 2pt; padding-top: 6pt; padding-bottom: 3.75pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3.75pt;">&#8203;</td><td style="width: 9.62%; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-bottom: 3.75pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td></tr><tr class="header"><td style="width: 69.23%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 3.75pt; padding-bottom: 3.75pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Month</div></td><td class="gutter" style="width: 1.92%; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 3.75pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.92%; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 3.75pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 4.81%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 3.75pt; padding-bottom: 3.75pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">High</div></td><td class="gutter" style="width: 1.92%; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 3.75pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.92%; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 3.75pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 4.81%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 3.75pt; padding-bottom: 3.75pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Low</div></td><td class="gutter" style="width: 1.92%; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 3.75pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.92%; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 3.75pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 9.62%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 3.75pt; padding-bottom: 3.75pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Volume</div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 3.75pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">2020<br></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3.75pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3.75pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3.75pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3.75pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">October<font style="padding-left: 4.29pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">20.89</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">19.25</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">52,143,498</div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">November<font style="padding-left: 4.29pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">21.73</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">19.93</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">33,265,298</div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">December<font style="padding-left: 0.41pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">21.36</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">20.10</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">41,923,046</div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">2021<br></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">January<font style="padding-left: 0.4pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">22.48</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">20.57</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">32,018,640</div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">February<font style="padding-left: 0.4pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">22.67</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">19.69</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">30,462,192</div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">March<font style="padding-left: 0.4pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">20.22</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">18.95</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">59,489,029</div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">April<font style="padding-left: 0.39pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">21.25</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">19.74</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">52,904,092 </div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">May<font style="padding-left: 3.17pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">19.94</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">18.26</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">48,266,917 </div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">June<font style="padding-left: 3.17pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">19.78</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">18.31</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">69,462,447 </div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">July<font style="padding-left: 4.84pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">19.93</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">18.47</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">38,722,461 </div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">August<font style="padding-left: 2.62pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">20.19</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">19.31</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">31,790,990 </div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">September<font style="padding-left: 3.74pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">19.89</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">18.56</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 2.5pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">42,151,037 </div></td></tr><tr><td style="width: 69.23%; text-align: left; vertical-align: bottom; padding-top: 2.5pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">October 1 - 26<font style="padding-left: 0.97pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">18.86</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">18.10</div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 2.5pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 9.62%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.5pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">44,121,330</div></td></tr></table> <div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; text-align: center;"><a name="tPS"><!--Anchor--></a>PRIOR SALES</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the 12 months preceding the date of this Prospectus, the Corporation issued the following Common Shares and securities convertible into Common Shares:</div><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 20pt; margin-left: 0pt; text-align: left;">Common Shares</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the 12 months preceding the date of this Prospectus, the Corporation issued an aggregate of 23,531,465&#160;Common Shares pursuant to its ATM Program at an average issue price of $19.57, as set out in the chart below:</div><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 64.1%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Month of Issue</div></td><td class="gutter" style="width: 2.58%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 2.58%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 15.34%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of Common <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Shares Issued</div></td><td class="gutter" style="width: 2.58%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 2.58%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 10.22%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Average Issue <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Price</div></td></tr><tr><td style="width: 64.1%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">March 2021<font style="padding-left: 3.07pt;"></font></div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 15.34%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 15.91pt; text-align: left;">8,188,225</div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 10.22%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.16pt; text-align: left;">$19.78</div></td></tr><tr><td style="width: 64.1%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">April 2021<font style="padding-left: 3.07pt;"></font></div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.34%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 15.91pt; text-align: left;">2,994,891</div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 10.22%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.16pt; text-align: left;">$20.41</div></td></tr><tr><td style="width: 64.1%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">May 2021<font style="padding-left: 0.84pt;"></font></div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 15.34%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 15.91pt; text-align: left;">4,009,049</div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 10.22%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.16pt; text-align: left;">$18.57</div></td></tr><tr><td style="width: 64.1%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">June 2021<font style="padding-left: 0.84pt;"></font></div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.34%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 15.91pt; text-align: left;">1,597,757</div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 10.22%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.16pt; text-align: left;">$18.60</div></td></tr><tr><td style="width: 64.1%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">August 2021<font style="padding-left: 0.29pt;"></font></div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 15.34%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 15.91pt; text-align: left;">2,876,510</div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 10.22%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.16pt; text-align: left;">$19,89</div></td></tr><tr><td style="width: 64.1%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">September 2021<font style="padding-left: 1.41pt;"></font></div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.34%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 15.91pt; text-align: left;">3,865,033</div></td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.58%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 10.22%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.16pt; text-align: left;">$19.69</div></td></tr></table><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 18pt; margin-left: 0pt; text-align: left;">Convertible Securities </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the 12 months preceding the date of this Prospectus, the Corporation issued 1,886 Common Shares on the conversion of 5.00% convertible unsecured subordinated debentures issued in the first quarter of 2016:</div><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 87.18%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Date of Issue</div></td><td class="gutter" style="width: 1.35%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.35%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 10.13%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Shares Issued</div></td></tr><tr><td style="width: 87.18%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">April&#160;19, 2021<font style="padding-left: 0.24pt;"></font></div></td><td class="gutter" style="width: 1.35%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.35%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 10.13%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 12.45pt; text-align: left;">1,415</div></td></tr><tr><td style="width: 87.18%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">May&#160;7, 2021<font style="padding-left: 3.01pt;"></font></div></td><td class="gutter" style="width: 1.35%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.35%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 10.13%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 12.45pt; text-align: left;"><font style="padding-left: 7.5pt;">471</font></div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">23<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">Equity Units</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">On June&#160;23, 2021, the Corporation completed an underwritten marketed public offering of 20,000,000 equity units (the &#8220;<font style="font-weight: bold;">Equity Unit Offering</font>&#8221;) for total gross proceeds of U.S.$1.0&#160;billion. The underwriters subsequently exercised their option to purchase an additional 3,000,000 equity units on the same terms as the Equity Unit Offering, bringing the total gross proceeds including the over-allotment to U.S.$1.15&#160;billion. Each equity unit was issued in a stated amount of U.S.$50 and, at issuance, consisted of a contract to purchase Common Shares and a 1/20, or 5%, undivided beneficial ownership interest in a U.S.$1,000 principal amount remarketable senior note of the Corporation due June&#160;15, 2026. Pursuant to the purchase contracts, holders are required to purchase Common Shares on June&#160;15, 2024.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The minimum settlement rate under the purchase contracts is 2.7778 Common Shares, which is approximately equal to the U.S.$50 stated amount per equity unit, divided by the threshold appreciation price of U.S.$18.00 per Common Share, which represents a premium of 20% over the reference price of U.S.$15.00 per Common Shares. The maximum settlement rate under the purchase contracts is 3.3333 Common Shares, which is approximately equal to the U.S.$50 stated amount per equity unit, divided by the reference price. Each of the settlement rates is subject to adjustment in certain circumstances.</div><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 19.5pt; margin-left: 0pt; text-align: left;">Stock Options</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the 12-month period preceding the date of this Prospectus, 61,225 share options were exercised at a weighted average price of C$14.75 in exchange for 12,021 Common Shares issued from treasury, and 49,204 options settled at their cash value as payment for the exercise price and tax withholdings related to the exercise of the options.</div><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 19.5pt; margin-left: 0pt; text-align: left;">Performance Share Units / Restricted Share Units</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-align: justify;">During the 12-month period preceding the date of this Prospectus, the Corporation granted the following restricted share units (&#8220;<font style="font-weight: bold;">RSUs</font>&#8221;) and performance share units (&#8220;<font style="font-weight: bold;">PSUs</font>&#8221;) under its Performance and Restricted Share Unit Plan for employees of the Corporation and its and its participating affiliates (the &#8220;<font style="font-weight: bold;">Share Unit Plan</font>&#8221;):</div> <table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 51.28%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Period</div></td><td class="gutter" style="width: 2.51%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 2.51%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 19.43%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of RSUs Granted</div></td><td class="gutter" style="width: 2.51%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 2.51%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 19.24%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of PSUs Granted</div></td></tr><tr><td style="width: 51.28%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Three Months Ended December&#160;31, 2020<font style="padding-left: 2.84pt;"></font></div></td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 19.43%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 31.71pt; text-align: left;"><font style="padding-left: 17.5pt;">&#8212;</font></div></td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 19.24%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 28.76pt; text-align: left;"><font style="padding-left: 5pt;">30,319</font></div></td></tr><tr><td style="width: 51.28%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Three Months Ended March&#160;31, 2021<font style="padding-left: 2.83pt;"></font></div></td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 19.43%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 31.71pt; text-align: left;">47,631</div></td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 19.24%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 28.76pt; text-align: left;">182,963</div></td></tr><tr><td style="width: 51.28%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Three Months Ended June&#160;30, 2021<font style="padding-left: 0.6pt;"></font></div></td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 19.43%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 31.71pt; text-align: left;">56,087</div></td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 19.24%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 28.76pt; text-align: left;">414,400</div></td></tr><tr><td style="width: 51.28%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">July&#160;1, 2021 to October 26, 2021<font style="padding-left: 0.87pt;"></font></div></td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 19.43%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 31.71pt; text-align: left;"><font style="padding-left: 5pt;">3,696</font></div></td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 19.24%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 28.76pt; text-align: left;"><font style="padding-left: 22.5pt;">&#8212;</font></div></td></tr></table> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Additional PSUs and RSUs, as applicable, are also issued quarterly, pursuant to the terms of the Share Unit Plan, as dividend equivalents units on outstanding PSUs and/or RSUs, as applicable, in connection with the payment of dividends on the Common Shares. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Under the Share Unit Plan, the Corporation has the option to pay vested PSUs and RSUs in cash, Common Shares purchased on the market or in Common Shares issued from treasury. If vested PSUs or RSUs are paid in Common Shares, the participant would receive one Common Share for each whole vested PSU or RSU. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the 12-month period preceding the date of this Prospectus, the Corporation settled 815,729 PSUs and RSUs in exchange for 422,514 Common Shares issued from treasury, and 393,215 PSUs and RSUs were settled at their cash value as payment for tax withholdings related to the settlement of PSUs and RSUs. </div><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 19.5pt; margin-left: 0pt; text-align: left;">Directors&#8217; Deferred Share Units</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the 12-month period preceding the date of this Prospectus, the Corporation granted the following deferred share units (&#8220;<font style="font-weight: bold;">DSUs</font>&#8221;) under its DSU Plan to non-employee directors of the Corporation:</div> <table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 76.92%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Period</div></td><td class="gutter" style="width: 1.92%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.92%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 19.24%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of Units Granted</div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Three Months Ended December&#160;31, 2020<font style="padding-left: 2.84pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 19.24%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 31.26pt; text-align: left;">18,539</div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Three Months Ended March&#160;31, 2021<font style="padding-left: 2.83pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 19.24%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 31.26pt; text-align: left;">15,970</div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Three Months Ended June&#160;30, 2021<font style="padding-left: 0.6pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 19.24%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 31.26pt; text-align: left;">19,579</div></td></tr><tr><td style="width: 76.92%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">July&#160;1, 2021 to October 26, 2021<font style="padding-left: 0.87pt;"></font></div></td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.92%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 19.24%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 31.26pt; text-align: left;">24,818</div></td></tr></table> </div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">24<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Under the DSU Plan, non-employee directors of the Corporation may elect annually to receive all or any portion of their compensation in DSUs in lieu of cash compensation. The DSU Plan provides for settlement of DSUs in cash or Common Shares at the election of the Corporation. Additional DSUs are also issued quarterly, pursuant to the terms of the DSU Plan, as dividend equivalent units on outstanding DSUs in connection with the payment of dividends on the Common Shares.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the 12-month period preceding the date of this Prospectus, the Corporation settled 87,306 DSUs in exchange for 40,887 Common Shares issued from treasury, and 46,419 DSUs were settled at their cash value as payment for tax withholdings related to the settlement of DSUs. </div><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Employee Share Purchase Plan</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the 12-month period preceding the date of this Prospectus, the Corporation issued 375,944 Common Shares pursuant to its employee stock purchase plan at a weighted average issue price of $19.89 per Common Share.</div><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Dividend Reinvestment Plan</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the 12-month period preceding the date of this Prospectus, the following number of Common Shares were issued from treasury pursuant to the Corporation&#8217;s dividend reinvestment plan at the average price per Common Share and month indicated below: </div><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 61.54%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Month of Issue</div></td><td class="gutter" style="width: 1.51%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.51%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of Common Shares</div></td><td class="gutter" style="width: 1.51%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.51%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 11.61%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Price per Share</div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">October 2020<font style="padding-left: 4.96pt;"></font></div></td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 28.73pt; text-align: left;">1,684,248</div></td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.61%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 13.43pt; text-align: left;">$19.47</div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">January 2021<font style="padding-left: 1.07pt;"></font></div></td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 28.73pt; text-align: left;">1,403,636</div></td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 11.61%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 13.43pt; text-align: left;">$20.42</div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">April 2021<font style="padding-left: 1.07pt;"></font></div></td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 28.73pt; text-align: left;">1,522,858</div></td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.61%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 13.43pt; text-align: left;">$19.39</div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">July 2021<font style="padding-left: 0.51pt;"></font></div></td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 28.73pt; text-align: left;">1,633,962</div></td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 11.61%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 13.43pt; text-align: left;">$17.81</div></td></tr><tr><td style="width: 61.54%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">October 2021<font style="padding-left: 4.96pt;"></font></div></td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 20.82%; text-align: center; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 28.73pt; text-align: left;">1,624,230 </div></td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 1.51%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 11.61%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 13.43pt; text-align: left;">$17.52</div></td></tr></table><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 18.5pt; text-align: center;"><a name="tCCFIC"><!--Anchor--></a>CERTAIN CANADIAN FEDERAL INCOME TAX CONSIDERATIONS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In the opinion of Blake, Cassels &amp; Graydon LLP, counsel to the Corporation, and Bennett Jones LLP, counsel to the Underwriters, the following is, as of the date of this Prospectus, a summary of the principal Canadian federal income tax considerations generally applicable under the <font style="font-style: italic;">Income Tax Act</font> (Canada) (the &#8220;<font style="font-weight: bold;">Tax Act</font>&#8221;) to a purchaser who acquires as beneficial owner Common Shares pursuant to this Offering and who, for purposes of the Tax Act, deals at arm&#8217;s length with the Corporation and the Underwriters, is not affiliated with the Corporation or the Underwriters, and acquires and holds the Common Shares as capital property (a &#8220;<font style="font-weight: bold;">Holder</font>&#8221;). Generally, the Common Shares will be considered to be capital property to a Holder provided that the Holder does not use or hold the Common Shares in the course of carrying on a business of buying and selling securities and such Holder has not acquired them in one or more transactions considered to be an adventure or concern in the nature of trade.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This summary is based on the provisions of the Tax Act and the regulations thereto (the &#8220;<font style="font-weight: bold;">Regulations</font>&#8221;) in force as of the date hereof, and counsel&#8217;s understanding of the current administrative policies and assessing practices of the Canada Revenue Agency (the &#8220;<font style="font-weight: bold;">CRA</font>&#8221;) published in writing by the CRA and publicly available prior to the date hereof. This summary takes into account all specific proposals to amend the Tax Act and the Regulations publicly announced by or on behalf of the Minister of Finance (Canada) prior to the date hereof (the &#8220;<font style="font-weight: bold;">Tax Proposals</font>&#8221;) and assumes that the Tax Proposals will be enacted in the form proposed, although no assurance can be given that the Tax Proposals will be enacted in their current form or at all. This summary does not otherwise take into account or anticipate any changes in law or in the administrative policies or assessing practices of the CRA, whether by way of judicial, legislative or governmental decision or action. This summary is not exhaustive of all possible Canadian federal income tax considerations, and does not take into account other federal or any provincial, territorial or foreign income tax legislation or considerations, which may differ materially from those described in this summary.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Generally, for purposes of the Tax Act, all amounts relating to the acquisition, holding or disposition of Common Shares must be determined in Canadian dollars. Any such amount that is expressed or denominated in a currency other than Canadian dollars must be converted into Canadian dollars using the relevant exchange rate determined in accordance with the Tax Act.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">25<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg5"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This summary is of a general nature only and is not, and is not intended to be, and should not be construed to be, legal or tax advice to any particular Holder, and no representations concerning the tax consequences to any particular Holder are made. The tax consequences of acquiring, holding and disposing of Common Shares will vary according to the Holder&#8217;s particular circumstances.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Holders should consult their own tax advisors regarding the tax considerations applicable to them having regard to their particular circumstances, including the application and effect of the income and other tax laws of any country, province or other jurisdiction that may be applicable to the Holder.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Residents of Canada</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following portion of this summary is applicable to a Holder who, for the purposes of the Tax Act and any applicable tax treaty or convention and at all relevant times, is or is deemed to be resident in Canada (a &#8220;<font style="font-weight: bold;">Resident </font><font style="font-weight: bold;">Holder</font>&#8221;). A Resident Holder to whom the Common Shares might not constitute capital property may make, in certain circumstances, the irrevocable election permitted by subsection 39(4) of the Tax Act to have the Common Shares, and all other Canadian securities held by such person, treated as capital property. Resident Holders considering making such election should first consult their own tax advisors.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following portion of this summary does not apply to a Resident Holder (i)&#160;that is a &#8220;financial institution&#8221; for purposes of the mark-to-market rules contained in the Tax Act; (ii)&#160;that is a &#8220;specified financial institution&#8221; as defined in the Tax Act; (iii)&#160;an interest in which is a &#8220;tax shelter investment&#8221; as defined in the Tax Act; (iv)&#160;that reports its &#8220;Canadian tax results&#8221; (as defined in the Tax Act) in a currency other than Canadian currency; (v)&#160;that has entered or will enter into, with respect to the Common Shares, a &#8220;derivative forward agreement&#8221; or &#8220;synthetic disposition arrangement&#8221;, each as defined in the Tax Act; (vi)&#160;that receives dividends on its Common Shares under or as part of a &#8220;dividend rental arrangement&#8221; as defined in the Tax Act; (vii)&#160;that is exempt from tax under Part I of the Tax Act; or (viii)&#160;that is a corporation resident in Canada and is or becomes, or does not deal at arm&#8217;s length for purposes of the Tax Act with a corporation resident in Canada that is or becomes, as part of a transaction or series of transactions or events that includes the acquisition of Common Shares, controlled by a non-resident person or group of non-resident persons not dealing with each other at arm&#8217;s length, for purposes of the &#8220;foreign affiliate dumping&#8221; rules in section 212.3 of the Tax Act. Such Resident Holders should consult their own tax advisors with respect to an investment in Common Shares. In addition, this summary does not address the deductibility of interest by a Resident Holder who has borrowed money or otherwise incurred debt in connection with the acquisition of the Common Shares.</div><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Taxation of Dividends</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Dividends received or deemed to be received on a Common Share will be included in computing a Resident Holder&#8217;s income for purposes of the Tax Act. Dividends received by a Resident Holder who is an individual (other than certain trusts) will be subject to the gross-up and dividend tax credit rules normally applicable to taxable dividends paid by taxable Canadian corporations. To the extent that the Corporation designates the dividends as &#8220;eligible dividends&#8221; within the meaning of the Tax Act in the prescribed manner, such dividends will be eligible for the enhanced gross-up and dividend tax credit. Dividends received by individuals (other than certain trusts) may give rise to alternative minimum tax under the Tax Act, depending on the individual&#8217;s circumstances.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Dividends received or deemed to be received by a Resident Holder that is a corporation will be included in computing the corporation&#8217;s income and will generally be deductible in computing its taxable income. In certain circumstances, subsection 55(2) of the Tax Act will treat a taxable dividend received (or deemed to be received) by a Resident Holder that is a corporation as a gain from the disposition of capital property or as proceeds of disposition. Resident Holders that are corporations should consult their own tax advisors having regard to their own circumstances. A Resident Holder that is a &#8220;private corporation&#8221; (as defined in the Tax Act) or a &#8220;subject corporation&#8221; (as defined in section 186 of the Tax Act) may be liable to pay a refundable tax under Part IV of the Tax Act on dividends received (or deemed to be received) on the Common Shares to the extent that such dividends are deductible in computing the Resident Holder&#8217;s taxable income. A Resident Holder that is, throughout the relevant taxation year, a &#8220;Canadian-controlled private corporation&#8221; (as defined in the Tax Act) may be liable to pay an additional refundable tax on its &#8220;aggregate investment income&#8221; (as defined in the Tax Act), including any dividends or deemed dividends that are not deductible in computing the Resident Holder&#8217;s taxable income.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">26<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg6"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">Disposition of Common Shares</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Upon a disposition or a deemed disposition of a Common Share (other than a disposition to the Corporation that is not a sale in the open market in the manner in which shares would normally be purchased by any member of the public in an open market), a Resident Holder will realize a capital gain (or a capital loss) equal to the amount by which the proceeds of disposition of the Common Share, net of any reasonable costs of disposition, exceed (or are less than) the adjusted cost base of the Common Share to the Resident Holder. The cost to the Resident Holder of a Common Share acquired pursuant to this Offering will, at any particular time, be determined by averaging the cost of such share with the adjusted cost base of all Common Shares of the Corporation owned by the Resident Holder as capital property at that time, if any.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">One half of any such capital gain (a &#8220;<font style="font-weight: bold;">taxable capital gain</font>&#8221;) realized by a Resident Holder in a taxation year will be required to be included in computing the Resident Holder&#8217;s income for that year, and one half of any such capital loss (an &#8220;<font style="font-weight: bold;">allowable capital loss</font>&#8221;) realized by a Resident Holder must generally be deducted against taxable capital gains realized by the Resident Holder in that year. Allowable capital losses not deductible in the taxation year in which they are realized may ordinarily be deducted by the Resident Holder against taxable capital gains realized in any of the three preceding taxation years or any subsequent taxation year, subject to the detailed rules contained in the Tax Act in this regard. Capital gains realized by an individual (other than certain trusts) may be subject to alternative minimum tax. Resident Holders should consult their own tax advisors with respect to the application of alternative minimum tax.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If the Resident Holder is a corporation, the amount of any capital loss realized on the disposition or deemed disposition of a Common Share by the Resident Holder may be reduced by the amount of dividends received or deemed to have been received by the Resident Holder on such Common Shares to the extent and in the circumstances prescribed by the Tax Act. Similar rules may apply where a corporation is a member of a partnership or beneficiary of a trust that owns Common Shares, or where a partnership or trust is itself a member of a partnership or a beneficiary of a trust that owns Common Shares.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If the Resident Holder is a &#8220;Canadian-controlled private corporation&#8221; (as defined in the Tax Act), the Resident Holder may also be liable to pay a refundable tax on its &#8220;aggregate investment income&#8221;, which is defined to include an amount in respect of taxable capital gains.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12pt; margin-left: 0pt; text-align: left;">Non-Resident Holders</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following portion of this summary is applicable to a Holder who, for the purposes of the Tax Act and any applicable tax treaty or convention and at all relevant times, is not resident or deemed to be resident in Canada and who does not use or hold (and is not deemed to use or hold) the Common Shares in connection with a business carried on in Canada (a &#8220;<font style="font-weight: bold;">Non-Resident Holder</font>&#8221;). This part of the summary is not applicable to a Non-Resident Holder that is an insurer that carries on an insurance business in Canada and elsewhere or is an &#8220;authorized foreign bank&#8221; (within the meaning of the Tax Act).</div><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 13.5pt; margin-left: 0pt; text-align: left;">Taxation of Dividends</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Dividends paid or credited or deemed to be paid or credited by the Corporation to a Non-Resident Holder will generally be subject to Canadian withholding tax at the rate of 25%, subject to any applicable reduction in the rate of such withholding under an income tax treaty between Canada and the country where the Holder is resident. For example, under the Canada-United States Tax Convention (1980) (the &#8220;<font style="font-weight: bold;">Treaty</font>&#8221;), the withholding tax rate in respect of a dividend paid to a person who is the beneficial owner of the dividend and is resident in the United States for purposes of, and entitled to full benefits under, the Treaty, is generally reduced to 15%. Non-Resident Holders are urged to consult their own tax advisors to determine their entitlement to relief under an applicable income tax treaty or convention.</div><div class="h4" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 13.5pt; margin-left: 0pt; text-align: left;">Disposition of Common Shares</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">A Non-Resident Holder of Common Shares who disposes of or is deemed to dispose of Common Shares (other than in a disposition to the Corporation that is not a sale in the open market in the manner in which shares would normally be purchased by any member of the public in an open market) will not be subject to tax under the Tax Act in respect of any capital gain realized on a disposition of Common Shares unless the Common Shares constitute, or are deemed to constitute, &#8220;taxable Canadian property&#8221; (as defined in the Tax Act) to the Non-Resident Holder at the time of the disposition and the Non-Resident Holder is not entitled to relief under an applicable income tax treaty or convention. Provided that the Common Shares are listed on a designated stock exchange (which includes the TSX </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">27<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg7"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">and the NYSE) at a particular time, the Common Shares generally will not constitute taxable Canadian property to a Holder at that time unless, at any time during the 60-month period ending at that time: (i) 25% or more of the issued shares of any class or series of the Corporation&#8217;s capital stock were owned by any combination of (a) the Non-Resident Holder, (b) persons with whom the Non-Resident Holder did not deal at arm&#8217;s length, and (c)&#160;partnerships in which the Non-Resident Holder or a person described in (b) holds a membership interest directly or indirectly through one or more partnerships; and (ii)&#160;more than 50% of the value of the Common Shares was derived, directly or indirectly, from one or any combination of (a) real or immoveable property situated in Canada, (b) Canadian resource properties, (c) timber resource properties, and (d) options in respect of any such property, all for purposes of the Tax Act. A Non-Resident Holder&#8217;s Common Shares can also be deemed to be taxable Canadian property in certain circumstances set out in the Tax Act. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If the Common Shares are considered taxable Canadian property to the Non-Resident Holder, then upon a disposition or a deemed disposition of such Common Shares (other than a disposition to the Corporation that is not a sale in the open market in the manner in which shares would normally be purchased by any member of the public in an open market), the Non-Resident Holder will realize a capital gain (or a capital loss) equal to the amount by which the proceeds of disposition of the Common Shares, net of any reasonable costs of disposition, exceed (or are less than) the adjusted cost base of the Common Shares to the Non-Resident Holder.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 5pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">One half of any such capital gain (a &#8220;<font style="font-weight: bold;">taxable capital gain</font>&#8221;) realized by a Non-Resident Holder in a taxation year will be required to be included in computing the Non-Resident Holder&#8217;s income for that year, and one half of any such capital loss (an &#8220;<font style="font-weight: bold;">allowable capital loss</font>&#8221;) realized by a Non-Resident Holder in a taxation year must generally be deducted against taxable capital gains realized by the Non-Resident Holder in that year from dispositions of taxable Canadian property. Allowable capital losses from dispositions of taxable Canadian property not deductible in the taxation year in which they are realized may ordinarily be carried back and deducted in any of the three preceding taxation years or carried forward and deducted in any subsequent taxation year against taxable capital gains realized in such years from dispositions of taxable Canadian property, subject to the detailed rules contained in the Tax Act in this regard. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 5pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">An applicable income tax treaty or convention may apply to exempt a Non-Resident Holder from tax under the Tax Act in respect of a disposition of Common Shares notwithstanding that such shares may constitute taxable Canadian property.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Non-Resident Holders whose Common Shares may be taxable Canadian property should consult their own tax advisors.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 11pt; text-align: center;"><a name="tCUFIC"><!--Anchor--></a>CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following is a summary of certain U.S. federal income tax considerations applicable to a U.S. holder (as defined below) relating to the purchase, ownership and disposition of Common Shares pursuant to the Offering. This summary is based on the provisions of the Internal Revenue Code of 1986, as amended (the &#8220;<font style="font-weight: bold;">Code</font>&#8221;), U.S. Treasury regulations, administrative rulings and judicial decisions, all as in effect on the date hereof, and all of which are subject to change or differing interpretations, possibly with retroactive effect. The Corporation has not sought any ruling from the Internal Revenue Service (&#8220;<font style="font-weight: bold;">IRS</font>&#8221;) with respect to the statements made and the conclusions reached in the following summary, and there can be no assurance that the IRS or a court will agree with such statements and conclusions.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 5pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This summary is limited to beneficial owners of Common Shares that purchased such Common Shares in the Offering for cash and that hold such common stock as capital assets within the meaning of section 1221 of the Code (generally, property held for investment). This summary does not address all aspects of U.S. federal income taxation and does not deal with any U.S. federal tax consequences other than income taxes (such as estate and gift tax consequences) or any state, local or foreign tax consequences. In addition, this summary does not address all United States federal income tax considerations that may be applicable to a holder&#8217;s particular circumstances or to holders that may be subject to special tax rules, such as, for example:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">tax consequences to holders who may be subject to special tax treatment, such as brokers and dealers in securities, currencies or commodities, thrifts, banks and financial institutions, regulated investment companies, real estate investment trusts, expatriates, tax-exempt entities, governmental organizations, qualified foreign pension funds, traders in securities that elect to use a mark-to-market method of accounting for their securities, certain former citizens or long-term residents of the United States, controlled foreign corporations and corporations that accumulate earnings to avoid U.S. federal income tax, passive foreign investment companies, or insurance companies; </div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">28<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg8"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">tax consequences to persons holding Common Shares as part of a hedging, integrated, or conversion transaction or a straddle or persons deemed to sell Common Shares under the constructive sale provisions of the Code; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">tax consequences to persons whose functional currency is not the U.S. dollar;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">tax consequences to persons subject to special tax accounting rules under section 451(b) of the Code;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">tax consequences to holders that own, directly, indirectly or constructively stock representing 10% or more of the total combined voting stock or value of the Corporation; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">tax consequences available to persons that will hold Common Shares in an individual retirement account, 401(k) plan or similar tax-favored account;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">tax consequence to holders who hold Common Shares in connection with the exercise of employee stock options or otherwise as compensation for services;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">tax consequences to partnerships or other pass-through entities for U.S. federal income tax purposes and investors in such entities; or </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">alternative minimum tax consequences, if any. </div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If an entity (or arrangement) classified as a partnership for U.S. federal income tax purposes holds Common Shares, the tax treatment of a partner in the partnership will generally depend upon the status of the partner and the activities of the partnership. Partners of partnerships holding Common Shares should consult their own tax advisor. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This summary of certain United States federal income tax considerations is for general information only and is not tax advice, and may not be applicable depending upon a holder&#8217;s particular situation. Holders are urged to consult their own tax advisor with respect to the application of United States federal income tax laws to their particular situation as well as any tax considerations arising under other United States federal tax laws (such as the estate or gift tax laws) or under the laws of any state, local, foreign or other taxing jurisdiction or under any applicable tax treaty.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">For purposes of this summary, a &#8220;<font style="font-weight: bold;">U.S. holder</font>&#8221; means a beneficial owner of Common Shares that is for U.S. federal income tax purposes: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">an individual who is a citizen or resident of the United States; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">a corporation created or organized in or under the laws of the United States, any state thereof or the District of Columbia; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">an estate the income of which is subject to U.S. federal income taxation regardless of its source; or </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">a trust if (1) it is subject to the primary supervision of a court within the United States and one or more U.S. persons have the authority to control all substantial decisions of the trust, or (2) it has a valid election in effect under applicable U.S. Treasury regulations to be treated as a U.S. person. </div></td></tr></table><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 14pt; margin-left: 0pt; text-align: left;">Distributions on Common Shares </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Distributions on the Common Shares will be treated as dividends to the extent paid out of the Corporation&#8217;s current or accumulated earnings and profits, as determined under U.S. federal income tax principles. To the extent that the amount of any distribution exceeds the Corporation&#8217;s current and accumulated earnings and profits for a taxable year, the distribution would be treated as a tax-free return of capital to the extent of a U.S. holder&#8217;s adjusted tax basis in the Common Shares. To the extent that such distribution exceeds a U.S. holder&#8217;s adjusted tax basis, it would be treated as capital gain. Such capital gain would be long-term capital gain if the U.S. holder&#8217;s holding period in the Common Shares exceeds one year as of the date of distribution. Otherwise, such capital gain would be short-term capital gain. Long-term capital gain of a non-corporate U.S. holder is generally eligible for reduced rates of taxation. The Corporation does not intend to maintain calculations of earnings and profits in a manner necessary to enable U.S. holders to determine the extent to which a distribution would be treated as a dividend. U.S. holders should therefore assume that any distribution by the Corporation with respect to the Common Shares would constitute dividend income.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Certain dividends paid to non-corporate U.S. holders by &#8220;qualified foreign corporations&#8221; may be taxed at favorable rates. If the Common Shares are readily tradable on an established U.S. securities market within the </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">29<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg9"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">meaning of the Code or if the Corporation is eligible for benefits under the income tax treaty between Canada and the United States, the Corporation generally would constitute a qualified foreign corporation for U.S. federal income tax purposes and, therefore, distributions on the Common Shares to non-corporate U.S. holders that are treated as dividends for U.S. federal income tax purposes would be treated as qualified dividend income eligible for such favorable rates, provided the applicable holding period requirements and certain other requirements are met (including, without limitation, the requirement that the Corporation not be classified as a &#8220;passive foreign investment company&#8221; for U.S. federal income tax purposes (a &#8220;<font style="font-weight: bold;">PFIC</font>&#8221;)). Distributions on the Common Shares will not be eligible for the dividends-received deduction generally available to U.S. corporations under the Code with respect to certain dividends. The dividend rules are complex, and each U.S. holder should consult its own tax advisor regarding the application of such rules.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The amount of dividend income for U.S. federal income tax purposes will include any amounts withheld in respect of Canadian taxes.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 13pt; margin-left: 0pt; text-align: left;">Sale or Other Taxable Disposition of Common Shares</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Upon a sale or other taxable disposition of Common Shares, U.S. holders generally will recognize gain or loss for U.S. federal income tax purposes equal to the difference between the amount realized and the holder&#8217;s tax basis in the Common Shares. Gain or loss will generally be capital gain or loss and will be long-term capital gain or loss if at the time of the sale or other taxable disposition the Common Shares have been held for more than one year. Long-term capital gains recognized by non-corporate taxpayers are subject to reduced tax rates. The deductibility of capital losses is subject to limitations. </div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 13pt; margin-left: 0pt; text-align: left;">PFIC Rules</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In general, the Corporation will be a PFIC for United States federal income tax purposes in any taxable year if (after taking into account the income and assets of Corporation and certain of its subsidiaries) 75% or more of its gross income is passive income, or at least 50% of the average value of its assets is attributable to assets held for the production of, or that produce, passive income. For this purpose, &#8220;passive income&#8221; generally includes, among other things, interest, dividends, rents, royalties, certain gains from the sale of stock and securities and certain gains from commodities transactions.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">PFIC status is determined on an annual basis. The Corporation does not expect to be a PFIC for the taxable year ending December&#160;31, 2021. The determination of whether the Corporation is a PFIC is based on the application of complex U.S. federal income tax rules, which are subject to differing interpretations, and will depend on the composition of the Corporation&#8217;s income, expenses and assets from time to time and the nature of its activities. PFIC classification is factual in nature, and generally cannot be determined until the close of the taxable year in question. Consequently, there can be no assurances regarding the PFIC status of the Corporation for its current or any future taxable year. If you own Common Shares during a taxable year in which the Corporation is a PFIC, the PFIC rules generally will apply to you thereafter, even if in subsequent taxable years the Corporation no longer meets the test described above to be treated as a PFIC. No ruling will be sought from the IRS regarding whether the Corporation is a PFIC.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In general, if the Corporation were to be treated as a PFIC, certain adverse rules would apply to dividends received from the Corporation and to dispositions of the Common Shares (potentially including dispositions that would not otherwise be taxable), including taxation at maximum ordinary income tax rates plus an interest charge on both gain from the sale of the Common Shares and certain &#8220;excess distributions&#8221; paid by the Corporation. In addition, in any year in which the Corporation is a PFIC, a U.S. holder generally must file an annual return on IRS Form 8621, which describes the income received (or deemed to be received in the event you make certain elections (to the extent available)) from the Corporation, any gain realized on a disposition of the Common Shares and certain other information. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">U.S. holders are urged to consult their own tax advisor about the PFIC rules in connection with their holding of the Common Shares, including potential elections that may be available to mitigate some of the adverse consequences relating to PFIC status.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 12.5pt; margin-left: 0pt; text-align: left;">Medicare Tax</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Certain individuals, estates and trusts whose income exceeds certain thresholds will be required to pay a 3.8% tax on &#8220;net investment income&#8221; including, among other things, dividends and net gain from disposition of property </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">30<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg10"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">(other than property held in certain trades or businesses). U.S. holders should consult their own tax advisors regarding the application, if any, of this tax on their ownership and disposition of Common Shares.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Receipt of Foreign Currency </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The amount of any distribution paid to a U.S. holder in foreign currency, or on the sale, exchange or other taxable disposition of Common Shares, generally will be equal to the U.S. dollar value of such foreign currency based on the exchange rate applicable on the date of receipt (regardless of whether such foreign currency is converted into U.S. dollars at that time). A U.S. holder will have a basis in the foreign currency equal to its U.S. dollar value on the date of receipt. Any U.S. holder who converts or otherwise disposes of the foreign currency after the date of receipt may have a foreign currency exchange gain or loss that would be treated as ordinary income or loss, and generally will be U.S. source income or loss for foreign tax credit purposes. Different rules apply to U.S. holders who use the accrual method of tax accounting. Each U.S. holder should consult its own U.S. tax advisor regarding the U.S. federal income tax consequences of receiving, owning, and disposing of foreign currency. </div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Foreign Tax Credit </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Subject to the PFIC rules discussed above, a U.S. holder that pays (whether directly or through withholding) Canadian income tax with respect to dividends paid on the Common Shares generally will be entitled, at the election of such U.S. holder, to receive either a deduction or a credit for such Canadian income tax. Generally, a credit will reduce a U.S. holder&#8217;s U.S. federal income tax liability on a dollar-for-dollar basis, whereas a deduction will reduce a U.S. holder&#8217;s income that is subject to U.S. federal income tax. This election is made on a year-by-year basis and applies to all foreign taxes paid (whether directly or through withholding) by a U.S. holder during a year. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Complex limitations apply to the foreign tax credit, including the general limitation that the credit cannot exceed the proportionate share of a U.S. holder&#8217;s U.S. federal income tax liability that such U.S. holder&#8217;s &#8220;foreign source&#8221; taxable income bears to such U.S. holder&#8217;s worldwide taxable income. In applying this limitation, a U.S. holder&#8217;s various items of income and deduction must be classified, under complex rules, as either &#8220;foreign source&#8221; or &#8220;U.S. source.&#8221; Generally, dividends paid by a foreign corporation should be treated as foreign source for this purpose, and gains recognized on the sale of stock of a foreign corporation by a U.S. holder should be treated as U.S. source for this purpose, except as otherwise provided in an applicable income tax treaty, and if an election is properly made under the Code. However, the amount of a distribution with respect to the Common Shares that is treated as a &#8220;dividend&#8221; may be lower for U.S. federal income tax purposes than it is for Canadian federal income tax purposes, resulting in a reduced foreign tax credit allowance to a U.S. holder. In addition, this limitation is calculated separately with respect to specific categories of income. The foreign tax credit rules are complex and will depend on the holder&#8217;s particular circumstances, and each U.S. holder should consult its own U.S. tax advisor regarding the foreign tax credit rules.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 20pt; margin-left: 0pt; text-align: left;">Backup Withholding and Information Reporting</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Information returns may be required to be filed with the IRS in connection with dividends received with respect to Common Shares and proceeds from the disposition of Common Shares, unless the U.S. holder is an exempt recipient. A U.S. holder may also be subject to backup withholding on these payments unless the holder provides such holder&#8217;s taxpayer identification number and otherwise complies with applicable requirements of the backup withholding rules or the holder provides proof of an applicable exemption. Amounts withheld under the backup withholding rules are not additional taxes and may be refunded or credited against a U.S. holder&#8217;s U.S. federal income tax liability, provided the required information is timely furnished to the IRS.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">U.S. holders may be required to report information relating to an interest in Common Shares or an account through which Common Shares are held, subject to certain exceptions (including an exception for Common Shares held in accounts maintained by certain U.S. financial institutions), by attaching a complete IRS Form 8938 to such holder&#8217;s tax return for each year in which such holder holds an interest in Common Shares. In addition, U.S. holders may be required to make other tax filings with respect to their investment in Common Shares, including, among others, IRS Form 926. Penalties for failure to file certain of these information returns may be substantial. U.S. holders should consult their own tax advisers regarding information reporting requirements relating to their ownership of Common Shares.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">31<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_207-certain_pg11"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tEFI"><!--Anchor--></a>ELIGIBILITY FOR INVESTMENT</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In the opinion of Blake, Cassels &amp; Graydon LLP, counsel to the Corporation, and Bennett Jones LLP, counsel to the Underwriters, subject to the provisions of any particular plan, provided that the Common Shares offered hereby are listed on a designated stock exchange (which currently includes the TSX and the NYSE) or the Corporation is a &#8220;public corporation&#8221; for the purposes of the Tax Act, the Common Shares, if issued on the date hereof, would be, on such date, qualified investments under the Tax Act and the Regulations for a trust governed by a registered retirement savings plan (&#8220;<font style="font-weight: bold;">RRSP</font>&#8221;), a registered retirement income fund (&#8220;<font style="font-weight: bold;">RRIF</font>&#8221;), a registered education savings plan (&#8220;<font style="font-weight: bold;">RESP</font>&#8221;), a registered disability savings plan (&#8220;<font style="font-weight: bold;">RDSP</font>&#8221;), a deferred profit sharing plan, or a tax free savings account (&#8220;<font style="font-weight: bold;">TFSA</font>&#8221;).</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Notwithstanding that the Common Shares may be qualified investments for a trust governed by an RRSP, RRIF, RESP, TFSA or RDSP, the annuitant under an RRSP or RRIF, a subscriber of an RESP, or the holder of a TFSA or an RDSP, as the case may be, may be subject to a penalty tax if such Common Shares are &#8220;prohibited investments&#8221; for the RRSP, RRIF, RESP, TFSA or RDSP within the meaning of the Tax Act. The Common Shares will generally not be a &#8220;prohibited investment&#8221; provided that the annuitant under the RRSP or RRIF, or a subscriber of the RESP, or the holder of the TFSA or the RDSP, as the case may be, deals at arm&#8217;s length with the Corporation for purposes of the Tax Act and does not have a &#8220;significant interest&#8221; (as defined in the Tax Act) in the Corporation. In addition, Common Shares will not be a prohibited investment if such Common Shares are &#8220;excluded property&#8221; as defined in the Tax Act for a trust governed by an RRSP, RRIF, RESP, TFSA or RDSP.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Prospective investors who intend to hold Common Shares in their RDSP, RESP, RRIF, RRSP or TFSA are urged to consult their own tax advisors concerning whether the Common Shares would constitute prohibited investments, including whether the Common Shares would be excluded property, in their particular circumstances.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">32<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_208-risk_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tRF"><!--Anchor--></a>RISK FACTORS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">An investment in the Common Shares is subject to certain risks. In addition to the risks described herein, reference is made to the section in the AIF entitled &#8220;<font style="font-style: italic;">Enterprise Risk Factors</font>&#8221; and in the most recent annual and interim MD&amp;A entitled &#8220;<font style="font-style: italic;">Enterprise Risk Management</font>&#8221; and to the risks disclosed in other documents incorporated by reference herein. Such risk factors could have a materially adverse effect on the future results of operations, business prospects or financial condition of the Corporation, and could cause actual events to differ materially from those described in forward-looking information. Additional risks and uncertainties not presently known to the Corporation, or which the Corporation currently deems to be immaterial, may also have an adverse effect upon the Corporation.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 17pt; margin-left: 0pt; text-align: left;">Discretion in the Use of Proceeds</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Management of the Corporation will have discretion concerning the use of proceeds of the Offering as well as the timing of their expenditures. As a result, investors will be relying on the judgment of management as to the application of the proceeds of the Offering. Management may use the net proceeds of the Offering in ways that an investor may not consider desirable. The results and effectiveness of the application of the proceeds are uncertain. If the proceeds are not applied effectively, the Corporation&#8217;s results of operations may suffer.</div><div class="h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 17.5pt; margin-left: 0pt; text-align: left;">Future Sales or Issuances of Securities</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation may sell additional Common Shares or other securities in subsequent offerings, including pursuant to its at-the-market equity program (the &#8220;<font style="font-weight: bold;">ATM Program</font>&#8221;). The Corporation may also issue additional securities to finance future activities. The Corporation cannot predict the size of future issuances of securities or the effect, if any, that future issuances and sales of securities will have on the market price of the Common Shares. Sales or issuances of substantial numbers of Common Shares, or the perception that such sales could occur, may adversely affect prevailing market prices of the Common Shares. With any additional sale or issuance of Common Shares, investors will suffer dilution to their voting power and the Corporation may experience dilution in its earnings per share. </div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17.5pt; margin-left: 0pt; text-align: left;">Risks Relating to the Acquisition and the Acquired Entities</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 7pt; margin-left: 0pt; text-align: left;">The Corporation may fail to complete the Acquisition</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The closing of the Acquisition is subject to the normal commercial risks that the Acquisition will not close on the terms negotiated or at all. The completion of the Acquisition is subject to regulatory approvals and a number of conditions, including (i)&#160;the expiration or termination of any applicable waiting period under the HSR Act, (ii)&#160;clearance of the Acquisition by CFIUS, (iii)&#160;the approval of the KPSC, (iv)&#160;the approval of the FERC, (v)&#160;the approval of the WVPSC with respect to the termination and replacement of the existing operating agreement for the Mitchell Plant, and (vi)&#160;certain other customary closing conditions. The failure to satisfy or waive the conditions contained in the Acquisition Agreement may result in the termination of the Acquisition Agreement. There is no assurance that such closing conditions will be satisfied or waived or, if satisfied or waived, when they will be so satisfied or waived. Accordingly, there can be no assurance that the Corporation will complete the Acquisition in the timeframe or on the basis described herein, if at all. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If the Acquisition is not completed, the Corporation could be subject to a number of risks that may adversely affect the Corporation&#8217;s business, financial condition, results of operations, reputation and cash flows, including (i)&#160;the requirement to pay costs relating to the Acquisition, such as legal, accounting and other fees, whether or not the Acquisition is completed, (ii)&#160;time and resources committed by the Corporation&#8217;s management to matters relating to the Acquisition that could otherwise have been devoted to pursuing other beneficial opportunities, and (iii)&#160;not realizing the benefits the Corporation expects to realize from the consummation of the Acquisition. In addition, if the Acquisition Agreement is terminated in certain circumstances, the Corporation may be required to pay to the Sellers a termination fee of U.S.$65&#160;million. See &#8220;<font style="font-style: italic;">The Acquisition</font> &#8211; <font style="font-style: italic;">Acquisition Agreement</font>&#8221;.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation may also be subject to litigation related to any failure to complete the Acquisition. If the Acquisition is not completed, these risks may materialize and may adversely affect the Corporation&#8217;s business, financial results and financial condition. The Corporation provides no assurance that the Acquisition will be completed, that there will not be a delay in the completion of the Acquisition or that all or any of the anticipated benefits of the Acquisition will be obtained.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">33<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_208-risk_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">The Offering is not conditional on the closing of the Acquisition</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation intends to use the net proceeds of this Offering to fund a portion of the purchase price for the Acquisition as described under &#8220;<font style="font-style: italic;">Use of Proceeds</font>&#8221;; however, the Offering is not conditional upon the closing of the Acquisition. If the Acquisition is not completed, management of the Corporation will have discretion concerning the use of proceeds of the Offering as well as the timing of such expenditures. As a result, investors will be relying on the judgment of management as to the application of the proceeds of the Offering. Management may use the net proceeds of the Offering in ways that an investor may not consider desirable. The results and effectiveness of the application of the proceeds are uncertain. If the proceeds are not applied effectively, the Corporation&#8217;s results of operations may suffer.</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 12pt; margin-left: 0pt; text-align: justify;">The Corporation may fail to implement its strategic objectives relating to the Acquired Entities or realize the anticipated benefits of the Acquisition</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Business combinations such as the Acquisition involve risks that could materially and adversely affect the Corporation&#8217;s business plan, including the failure to realize the results that the Corporation expects. There can be no assurance that the Corporation will be successful in increasing the historical ROEs earned by either of the Acquired Entities, or that the load declines experienced by Kentucky Power over recent years will not continue to be a prevailing trend. In addition, there can be no assurance that management of the Corporation will be able to fully realize some or all of the expected benefits of the Acquisition or that the Corporation will succeed in implementing its strategic objectives relating to the Acquired Entities, including the transfer of operational control of the Mitchell Plant from Kentucky Power to the Wheeling Power Company and the transition of Kentucky Power&#8217;s generating mix to greener sources (i.e. &#8220;greening the fleet&#8221; initiatives). The ability to realize these anticipated benefits and implement these strategic objectives will depend in part on successfully retaining staff, hiring additional staff to replace certain of the Sellers&#8217; centralized operations, obtaining favourable regulatory outcomes and on realizing growth opportunities, no unanticipated economic changes in the areas where the Acquired Companies operate, and potential synergies through the coordination of activities and operations of the Acquired Entities with the Corporation&#8217;s existing business. There is a risk that some or all of the expected benefits and strategic objectives will fail to materialize, or may not occur within the time periods anticipated by management. The realization of some or all of such benefits or successful implementation of strategic objectives may be affected by a number of factors, many of which are beyond the control of the Corporation. A failure to realize the anticipated benefits of or implement strategic objectives relating to the Acquisition on an efficient and effective basis could have a material adverse effect on the Corporation&#8217;s financial condition, results of operations, reputation and cash flows.</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 12pt; margin-left: 0pt; text-align: justify;">The Acquisition and related financing plan, including the Offering, could result in a downgrade of the Corporation&#8217;s credit ratings<font style="font-style: normal;"> </font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The change in the capital structure of the Corporation as a result of the Acquisition, the Offering and the possibility of the Corporation incurring additional indebtedness in connection therewith, under the credit facilities contemplated by the Acquisition Financing Commitment or otherwise (including the extent to which any new issuances of hybrid notes or equity units are treated as indebtedness) could cause credit rating agencies which rate the Corporation&#8217;s outstanding debt obligations to re-evaluate and potentially downgrade the Corporation&#8217;s current credit ratings, which could increase the Corporation&#8217;s borrowing costs and adversely impact the market price of the outstanding securities of the Corporation. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Acquisition could also result in a downgrade of the credit rating of Kentucky Power or its outstanding bonds, and could require Kentucky Power to offer to prepay U.S.$525&#160;million in principal amount of its outstanding bonds if the credit ratings thereof fall below investment grade (or in the event such bonds are placed on &#8220;credit watch&#8221; or assigned a &#8220;negative outlook&#8221; if they are rated BBB- by S&amp;P or Baa3 by Moody&#8217;s at such time).</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 18pt; margin-left: 0pt; text-align: left;">The Corporation does not currently control the Acquired Entities</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Although the Acquisition Agreement contains covenants on the part of the Sellers regarding the operation of the Acquired Entities prior to closing the Acquisition, the Corporation will not control the Acquired Entities until completion of the Acquisition and the Acquired Entities&#8217; business and results of operations may be adversely affected by events that are outside of the Corporation&#8217;s control during the intervening period. Historic and current performance of the Acquired Entities&#8217; business and operations may not be indicative of success in future periods. The future performance of the Acquired Entities may be influenced by, among other factors, weather, economic </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">34<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_208-risk_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">downturns, increased environmental regulation, turmoil in financial markets, unfavourable regulatory decisions, rising interest rates and other factors beyond the Corporation&#8217;s control. As a result of any one or more of these factors, among others, the operations and financial performance of the Acquired Entities may be negatively affected which may adversely affect the future financial results of the Corporation.</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 12pt; margin-left: 0pt; text-align: left;">The Corporation expects to incur significant Acquisition-related expenses</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation expects to incur a number of costs associated with completing the Acquisition. The substantial majority of these costs will be non-recurring expenses resulting from the Acquisition and will consist of transaction costs related to the Acquisition, including costs relating to the financing of the Acquisition and obtaining regulatory approval. Additional unanticipated costs may be incurred. </div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 12pt; margin-left: 0pt; text-align: left;">There may be undisclosed liabilities associated with the Acquisition</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In connection with the Acquisition, there may be liabilities that the Corporation failed to discover or was unable to quantify in the Corporation&#8217;s due diligence which the Corporation conducted prior to the execution of the Acquisition Agreement, and the Corporation may not have recourse for some or all of these potential liabilities.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In connection with the Acquisition, the Corporation has obtained a representation and warranty insurance policy, with coverage up to U.S.$255&#160;million, subject to an initial retention of U.S.$21&#160;million. Nevertheless, this insurance policy is subject to certain exclusions and limitations and there may be circumstances for which the insurer attempts to limit such coverage or refuse to indemnify the Corporation or where the coverage provided under insurance policy may otherwise be insufficient or applicable. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">While the Corporation has accounted for these potential liabilities for the purposes of making its decision to enter into the Acquisition Agreement, there can be no assurance that any such liability will not exceed the Corporation&#8217;s estimates. Any such liabilities could have a material adverse effect on the Corporation&#8217;s financial position.</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 12pt; margin-left: 0pt; text-align: left;">The cash consideration for the Acquisition will be paid in U.S. dollars<font style="font-style: normal;"> </font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The cash consideration for the Acquisition is required to be paid in U.S. dollars, while funds raised in the Offering, which will constitute a portion of the funds ultimately used to finance the Acquisition, are denominated in Canadian dollars. See &#8220;<font style="font-style: italic;">Use of Proceeds</font>&#8221;. As a result, increases in the value of the U.S. dollar versus the Canadian dollar prior to the closing of the Acquisition will increase the purchase price translated in Canadian dollars and thereby reduce the proportion of the purchase price for the Acquisition ultimately obtained by Algonquin under the Offering, which could cause a failure to realize the anticipated benefits of the Acquisition.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation may enter into hedging arrangements to mitigate these exposures. The failure to enter into hedging arrangements could result in adverse impacts greater than if hedging had been used. Entering into hedging arrangements could result in limiting positive impacts than if hedging had not been used.</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 12pt; margin-left: 0pt; text-align: justify;">Information relating to the Acquired Entities in this Prospectus has been obtained from AEP, AEP TransCo or AEP&#8217;s public disclosure record</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">All information relating to the Acquired Entities or their affiliates contained in this Prospectus has been obtained from AEP and AEP TransCo or taken from AEP&#8217;s public disclosure record. Although the Corporation has conducted what it believes to be a prudent level of investigation in connection with the Acquisition and the disclosure relating to the Acquired Entities contained in this Prospectus, an unavoidable level of risk remains regarding the accuracy and completeness of such information. While the Corporation has no reason to believe the information obtained from AEP and AEP TransCo or taken from AEP&#8217;s public disclosure record is misleading, untrue or incomplete, the Corporation cannot assure the accuracy or completeness of such information, nor can the Corporation compel AEP or AEP TransCo to disclose events which may have occurred or may affect the completeness or accuracy of such information but which are unknown to Algonquin.</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 12pt; margin-left: 0pt; text-align: justify;">The Acquisition could expose the Corporation to reputational harm and an increase in the costs of compliance with or liabilities under environmental laws, including those relating to climate change concerns</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">All of the electricity generated by Kentucky Power is produced by the combustion of fossil fuels. As a result, the announcement and/or closing of the Acquisition could result in reputational harm to the Corporation and adversely affect perceptions regarding the Corporation&#8217;s commitment to environmental and sustainability concerns, as well as the Corporation&#8217;s ability to accomplish its environmental and sustainability objectives.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">35<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_208-risk_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The operation of fossil-fueled generation plants, including resulting emissions of nitrogen and sulfur oxides, mercury and particulates and the discharge and disposal of solid waste (including coal-combustion residuals (&#8220;<font style="font-weight: bold;">CCRs</font>&#8221;)), is subject to extensive federal, state and local environmental statutes, rules and regulations relating to air quality, water quality, waste management, natural resources and health and safety. Compliance with these requirements requires Kentucky Power to incur significant costs, including capital expenditures, for environmental monitoring, installation of pollution control equipment, emission fees, disposal activities, decommissioning, and permitting obligations at its facilities. If these compliance costs become uneconomical, Kentucky Power may ultimately be required to retire generating capacity prior to the end of its estimated life. The costs of complying with these legal requirements could also adversely affect Kentucky Power&#8217;s results of operations, financial condition and cash flows, and those of the Corporation following the closing of the Acquisition. In addition, the impacts could become even more significant if existing requirements governing air emissions management and disposal, CCR waste and/or waste matter discharge become more restrictive in the future, more extensive operating and/or permitting requirements are imposed or additional substances associated with power generation are subjected to increased regulation. Although Kentucky Power typically recovers expenditures for pollution control technologies, replacement generation, undepreciated plant balances and associated operating costs from customers, there can be no assurance that Kentucky Power will be able to obtain a rate order to fully recover the remaining costs associated with such plants in the future. The failure to recover these costs could reduce Kentucky Power&#8217;s results of operations, financial condition and cash flows, and those of the Corporation following the closing of the Acquisition.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Future changes to environmental laws, including with respect to the regulation of CO2 emissions, could cause Kentucky Power to incur materially higher costs than it has incurred to date. In 2014, the U.S. Environmental Protection Agency (&#8220;<font style="font-weight: bold;">EPA</font>&#8221;) issued standards for new, modified and reconstructed units, and guidance for the development of state implementation plans that would reduce CO2 emissions from existing utility units (the &#8220;<font style="font-weight: bold;">Clean </font><font style="font-weight: bold;">Power Plan</font>&#8221;). In 2019, the EPA repealed the Clean Power Plan, and replaced it with the Affordable Clean Energy rule (the &#8220;<font style="font-weight: bold;">ACE rule</font>&#8221;). In January 2021, the U.S. Court of Appeals for the District of Columbia Circuit vacated the ACE rule and remanded it to the EPA. The new U.S. administration has announced that addressing climate change is a priority policy. Costs of compliance with existing or future regulations to reduce CO2 emissions, increase renewable energy sources or otherwise address climate change concerns, as well as increasing public attention to such matters, could reduce Kentucky Power&#8217;s results of operations, financial condition and cash flows, and those of the Corporation following the closing of the Acquisition, and could cause Kentucky Power to retire generating capacity prior to the end of its estimated useful life.</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 12pt; margin-left: 0pt; text-align: justify;">Courts adjudicating nuisance and other similar claims associated with power plant emissions may in the future order Kentucky Power to pay damages or to limit or reduce emissions</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">There have been numerous cases in various U.S. jurisdictions alleging various causes of action to address emissions from power plants, including that such emissions constitute a public nuisance. The plaintiffs in such actions generally seek recovery of damages and other relief. If Kentucky Power were to become the subject of such actions, and such actions were resolved unfavourably to Kentucky Power, substantial costs, including for modifications or retirement of existing coal-fired power plants could be required. In addition, Kentucky Power could be required to invest significantly in additional emission control equipment, accelerate the timing of capital expenditures, pay damages or penalties and/or halt operations. Unless recovered, these costs could reduce Kentucky Power&#8217;s results of operations, financial condition and cash flows, and those of the Corporation following the closing of the Acquisition. Moreover, Kentucky Power&#8217;s results of operations, financial condition and cash flows, and those of the Corporation following the closing of the Acquisition, could be reduced due to timing of recovery of these investments and the expenses of ongoing litigation. </div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 12pt; margin-left: 0pt; text-align: justify;">The pendency of the Acquisition could adversely affect the business and operations of the Corporation and the Acquired Entities<font style="font-style: normal;"> </font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In connection with the pending Acquisition, certain clients, customers or counterparties of each of the Corporation and the Acquired Entities may delay or defer decisions, which could negatively impact the revenues, earnings, cash flows and expenses of the Corporation and the Acquired Entities, regardless of whether the Acquisition is completed. Similarly, current and prospective employees of the Corporation and the Acquired Entities may experience uncertainty about their future roles following the Acquisition, which may materially adversely affect the ability of each of the Corporation and the Acquired Entities to attract, retain and motivate key personnel during the pendency of the Acquisition and which may materially adversely divert attention from the daily activities of the </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">36<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_208-risk_pg5"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">Corporation&#8217;s and the Acquired Entities&#8217; existing employees. If key employees depart due to the uncertainty of employment and difficulty of integration or a desire not to remain with the combined company following completion of the Acquisition, the Corporation may incur significant costs in identifying, hiring, and retaining replacements for departing employees, which could have a material adverse effect on the Corporation&#8217;s business operations and financial results. In addition, the Corporation has diverted, and will continue to divert, significant management resources to complete the Acquisition, which could have a negative impact on the Corporation&#8217;s ability to manage existing operations or pursue alternative strategic transactions, which could adversely affect the Corporation&#8217;s business, financial condition and results of operations.</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 20.5pt; margin-left: 0pt; text-align: justify;">The Acquired Entities may be party to agreements that contain change of control and/or termination for convenience provisions.<font style="font-style: normal;"> </font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Acquired Entities may be a party to agreements that contain change of control and/or termination for convenience provisions which may be triggered following completion of the Acquisition. The operation of these change of control or termination provisions, if triggered, could result in unanticipated expenses and/or cash payments following the consummation of the Acquisition or adversely affect the Acquired Entities&#8217; results of operations and financial condition. Unless these change of control provisions are waived, or the termination provisions are not exercised, by the other party, the operation of any of these provisions could adversely affect the results of operations and financial condition of the Corporation and the Acquired Entities. </div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 20.5pt; margin-left: 0pt; text-align: justify;">The Corporation and the Acquired Entities will continue to rely on the Sellers following completion of the Acquisition for certain transitional services</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In connection with the Acquisition, the parties agreed to enter into (i)&#160;a transition services agreement upon the closing of the Acquisition and (ii)&#160;a new ownership agreement and a new operations agreement with respect to the Mitchell Plant, which will provide for the provision by the Sellers of certain transition services to the Acquired Entities and certain operations and maintenance with respect to the Mitchell Plant for a period of time following the closing date. As a result, the Corporation will be reliant on Sellers&#8217; personnel, good faith, contractual compliance, expertise, historical performance, technical resources and information systems, proprietary information and judgment in providing the services under the transition services agreement, the Mitchell Plant ownership agreement and the Mitchell Plant operations agreement. Accordingly, the Corporation will be exposed to adverse developments in the business and affairs of the Sellers, to their management and to their financial strength. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">There can be no assurance that the transition services provided by the Sellers pursuant to the transition services agreement or the operations and maintenance services to be provided pursuant to the Mitchell ownership agreement and the Mitchell operations agreement will be adequate for the Corporation to maintain the current operations of the Acquired Entities and facilitate the efficient and effective transition of business operations, nor can there be any assurance that the transition process will be completed during the term of the transition services agreement. If the transition process is not completed successfully, the Acquired Entities&#8217; operations and financial performance may be negatively affected, which could adversely affect the business, results of operations and financial condition of the Corporation. If, after the expiration of the transition services agreement, the Corporation or the Acquired Entities are unable to perform these services or replace them in a timely manner or on terms and conditions as favorable as those the Acquired Entities receive from the Sellers, the Corporation and/or the Acquired Entities may experience operational problems and an increase in their costs. In addition, the costs for such services may be higher than the costs for such services when the Acquired Entities were operated as part of the Sellers.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Failure by the Sellers to meet their obligations under the transition services agreement, the Mitchell Plant ownership agreement or the Mitchell Plant operations agreement could have a material adverse effect on the value of the Acquired Entities.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">37<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_209-expert_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tIOE"><!--Anchor--></a>INTERESTS OF EXPERTS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Certain legal matters in connection with the Offering hereunder will be passed upon on behalf of the Corporation by Blake, Cassels &amp; Graydon LLP with respect to Canadian legal matters and by Gibson, Dunn &amp; Crutcher LLP with respect to U.S. legal matters. Certain legal matters in connection with the Offering hereunder will be passed upon on behalf of the Underwriters by Bennett Jones LLP with respect to Canadian legal matters and by Cravath, Swaine &amp; Moore LLP with respect to U.S. legal matters. As of the date hereof, the partners and associates of Blake, Cassels &amp; Graydon LLP, as a group, and Bennett Jones LLP, as a group, beneficially own, directly or indirectly, less than 1%&#160;of the outstanding securities of the Corporation, respectively.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17pt; text-align: center;"><a name="tATAR"><!--Anchor--></a>AUDITORS, TRANSFER AGENT &amp; REGISTRAR</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Ernst &amp; Young LLP, the auditors of the Corporation, have confirmed that they are (i)&#160;independent with respect to the Corporation within the meaning of the CPA Code of Professional Conduct of the Chartered Professional Accountants of Ontario and (ii)&#160;an independent registered public accounting firm with respect to the Corporation within the meaning of the U.S. Securities Act, the applicable rules and regulations adopted thereunder by the SEC&#160;and the Public Company Accounting Oversight Board (United States). The consolidated financial statements of the Corporation as at and for the years ended December&#160;31, 2020 and December&#160;31, 2019, and for each of the two years in the period ended December&#160;31, 2020, incorporated by reference in this Prospectus have been audited by Ernst &amp; Young LLP and have been so incorporated in reliance upon the report of Ernst &amp; Young LLP given on their authority as experts in accounting and auditing.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">AST Trust Company (Canada) is the registrar and transfer agent of the Common Shares. Registers for the registration and transfer of the Common Shares are kept at the office of AST Trust Company (Canada) in Toronto. American Stock Transfer &amp; Trust Company, LLC is the co-transfer agent of the Common Shares in the U.S.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17pt; text-align: center;"><a name="tDFPR"><!--Anchor--></a>DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following documents have been or will be filed with the SEC as part of the registration statement of which this Prospectus is a part insofar as required by the SEC&#8217;s Form F-10:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the Underwriting Agreement;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the documents listed under &#8220;<font style="font-style: italic;">Documents Incorporated by Reference</font>&#8221; in this Prospectus;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the consent of the Corporation&#8217;s auditor, Ernst &amp; Young LLP;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the consent of the Corporation&#8217;s Canadian counsel, Blake, Cassels &amp; Graydon LLP;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the consent of the Underwriters&#8217; Canadian counsel, Bennett Jones LLP; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">powers of attorney from the Corporation&#8217;s directors and officers.</div></td></tr></table><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17pt; text-align: center;"><a name="tEOCCL"><!--Anchor--></a>ENFORCEMENT OF CERTAIN CIVIL LIABILITIES</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation is incorporated under the laws of Canada and its registered and head office is in Canada. Some of the Corporation&#8217;s directors and most of the Corporation&#8217;s officers, and some or all of the experts named in this Prospectus, are residents of Canada or otherwise reside outside of the U.S., and a portion of their assets, and a portion of the Corporation&#8217;s assets, are located outside the U.S. The Corporation has appointed an agent for service of process in the U.S., but it may be difficult for holders of securities who reside in the U.S. to effect service within the U.S. upon the Corporation or those directors, officers and experts who are not residents of the U.S. Investors should not assume that a Canadian court would enforce a judgment of a U.S. court obtained in an action against the Corporation or such other persons predicated on the civil liability provisions of the U.S. federal securities laws or the securities or &#8220;blue sky&#8221; laws of any state within the U.S. or would enforce, in original actions, liabilities against the Corporation or such persons predicated on the U.S. federal securities laws or any such state securities or &#8220;blue sky&#8221;&#160;laws. The Corporation has been advised by its Canadian counsel, Blake, Cassels &amp; Graydon LLP, that a judgment of a U.S. court predicated solely upon civil liability under U.S. federal securities laws would probably be enforceable in Canada if the U.S. court in which the judgment was obtained has a basis for jurisdiction in the matter that would be recognized by a Canadian court for the same purposes. The Corporation has also been advised by Blake, Cassels &amp; Graydon LLP, however, that there is a substantial doubt whether an action could be brought in Canada in the first instance on the basis of liability predicated solely upon U.S. federal securities laws.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">38<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_209-expert_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Corporation filed with the SEC, concurrently with its registration statement on Form F-10, an appointment of agent for service of process on Form F-X. Under the Form F-X, the Corporation appointed CT Corporation System as its agent for service of process in the U.S. in connection with any investigation or administrative proceeding conducted by the SEC and any civil suit or action brought against or involving the Corporation in a U.S. court arising out of or related to or concerning the offering of securities under the registration statement of which this Prospectus forms a part.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">39<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_300-part2_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">PART II<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">&#8195;<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">INFORMATION NOT REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 19.5pt; margin-left: 0pt; text-align: left;">Indemnification</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Under the Canada Business Corporations Act (the &#8220;CBCA&#8221;), a corporation may indemnify a present or former director or officer of such corporation or another individual who acts or acted at the corporation&#8217;s request as a director or officer, or an individual acting in a similar capacity, of another entity against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of that association with the corporation or other entity, and the corporation may advance moneys to such individual for the costs, charges and expenses of any such proceeding. The corporation may not indemnify the individual, and any advance of moneys must be repaid by the individual, unless the individual acted honestly and in good faith with a view to the best interests of the corporation, or, as the case may be, to the best interests of the other entity for which the individual acted as director or officer or in a similar capacity at the corporation&#8217;s request and in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty the individual had reasonable grounds for believing that the individual&#8217;s conduct was lawful. Such indemnification and advances may be made in connection with a derivative action only with court approval. Such individual is entitled to indemnity from the corporation in respect of all costs, charges and expenses reasonably incurred by the individual in connection with the defense of a civil, criminal, administrative, investigative or other proceeding to which the individual is subject by reason of being or having been a director or officer of the corporation or other entity as described above if the individual seeking indemnity was not judged by the court or other competent authority to have committed any fault or omitted to do anything that the individual ought to have done and if the individual fulfils the conditions set forth above.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Subject to the limitations contained in the CBCA, the by-laws provide that the Registrant shall indemnify a director or officer of the Registrant, a former director or officer of the Registrant or a person who acts or acted at the Registrant&#8217;s request as a director or officer of a body corporate of which the Registrant is or was a shareholder or creditor (or a person who undertakes or has undertaken any liability on behalf of the Registrant or at the Registrant&#8217;s request on behalf of any such body corporate), and such director or officer&#8217;s heirs and legal representatives, to the full extent permitted by the CBCA, as set forth above, and without limit to the right of the Registrant to indemnify any person under the CBCA or otherwise in respect of any civil, criminal or administrative action or proceeding to which such director or officer is made a party by reason of being or having been a director or officer. Accordingly, the Registrant has entered into indemnification agreements with each of its directors and executive officers providing such individuals with rights to indemnification and expense advancement to the fullest extent permitted under law. The Registrant also maintains directors&#8217; and officers&#8217; liability insurance which insures the Registrant&#8217;s directors and officers and our subsidiaries against certain losses resulting from any wrongful act committed in their official capacities for which they become obligated to pay to the extent permitted by applicable law.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions, the Registrant has been informed that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-1<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_301-exind_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">EXHIBITS TO FORM-10</div> <table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 7.69%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Exhibit</div></td><td class="gutter" style="width: 0.64%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 0.64%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 91.03%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Description</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="ny20001090x7_ex3-1.htm">3.1</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 91.03%; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Underwriting Agreement, dated October 27, 2021, by and among the Corporation, CIBC World Markets Inc., Scotia Capital Inc., BMO Capital Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., Morgan Stanley Canada Limited, Desjardins Securities Inc., Industrial Alliance Securities Inc., Raymond James Ltd., J.P. Morgan Securities Canada Inc., Merrill Lynch Canada Inc., Wells Fargo Securities Canada, Ltd. and HSBC Securities (Canada) Inc.</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/1174169/000117416921000012/a2021aifv7boardcirculation.htm">4.1</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 91.03%; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Annual Information Form of the Corporation for the financial year ended December&#160;31, 2020, dated March&#160;4, 2021 (incorporated by reference from Exhibit 99.1 to the Corporation&#8217;s Annual Report on Form&#160;40-F for the year ended December&#160;31, 2020, filed on March&#160;5, 2021).</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1174169/000117416921000012/aqunf-20201231.htm">4.2</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 91.03%; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Audited comparative consolidated financial statements of the Corporation and the notes thereto for the years ended December&#160;31, 2020 and December&#160;31, 2019, together with the reports of the independent registered public accounting form thereon (incorporated by reference from Exhibit 99.2 and Exhibit 101 to the Corporation&#8217;s Annual Report on Form 40-F for the year ended December&#160;31, 2020, filed on March&#160;5, 2021).</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/1174169/000117416921000012/a2020q4-exhibit992xmda.htm">4.3</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 91.03%; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Management&#8217;s discussion and analysis for the audited comparative consolidated financial statements for the financial years ended December&#160;31, 2020 and 2019 (incorporated by reference from Exhibit 99.3 to the Corporation&#8217;s Annual Report on Form 40-F for the year ended December&#160;31, 2020, filed on March&#160;5, 2021).</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1174169/000117416921000047/aqunf-20210630.htm">4.4</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 91.03%; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Unaudited interim consolidated financial statements of the Corporation and the notes thereto for the six months ended June&#160;30, 2021 and 2020 (incorporated by reference from Exhibit 99.1 and Exhibit 101 to the Corporation&#8217;s Form 6-K filed on August&#160;13, 2021 with respect to the interim financial statements).</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/1174169/000117416921000047/a2021q2-exhibit992xmda.htm">4.5</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 91.03%; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Management&#8217;s discussion and analysis for the unaudited interim consolidated financial statements for the six months ended June&#160;30, 2021 and 2020 (incorporated by reference from Exhibit 99.2 to the Corporation&#8217;s Form 6-K filed on August&#160;13, 2021 with respect to the interim financial statements).</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/1174169/000114036121015562/brhc10023941_ex99-1.htm">4.6</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 91.03%; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Management Information Circular of the Corporation in respect of the Corporation&#8217;s annual meeting of shareholders held on June&#160;3, 2021 (incorporated by reference from Exhibit 99.1 to the Corporation&#8217;s Current Report on Form 6-K, filed on May&#160;3, 2021).</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="ny20001090x7_ex5-1.htm">5.1</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 91.03%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Consent of Ernst &amp; Young LLP.</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/1174169/000114036121035469/ny20001090x1_ex5-2.htm">5.2*</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 91.03%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Consent of Blake, Cassels &amp; Graydon LLP.</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/1174169/000114036121035469/ny20001090x1_ex5-3.htm">5.3*</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 91.03%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Consent of Bennett Jones LLP.</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/Archives/edgar/data/1174169/000114036121035469/ny20001090x1_f10.htm#tSIG">6.1*</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 91.03%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Powers of Attorney.</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1174169/000117416921000012/aqunf-20201231.htm">101.1</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 91.03%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Interactive Date File (included in Exhibit 4.2).</div></td></tr><tr><td style="width: 7.69%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1174169/000117416921000047/aqunf-20210630.htm">101.2</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 91.03%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Interactive Date File (included in Exhibit 4.4).</div></td></tr></table> <div><div class="rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 0pt; margin-top: 13.25pt;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">Previously filed.</div></td></tr></table> </div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">III-3<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_302-part3_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">PART III<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">UNDERTAKING AND CONSENT TO SERVICE OF PROCESS</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt;"><tr><td style="width: 45pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item 1.<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Undertaking</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The Registrant undertakes to make available, in person or by telephone, representatives to respond to inquiries made by the Commission staff, and to furnish promptly, when requested to do so by the Commission staff, information relating to the securities registered pursuant to this Form F-10 or to transactions in said securities.</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt;"><tr><td style="width: 45pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item 2.<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Consent to Service of Process</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(a)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">Concurrently with the filing of this Registration Statement, the Registrant is filing with the Commission a written irrevocable consent and power of attorney on Form F-X.</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(b)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">Any change to the name or address of the agent for service of the Registrant shall be communicated promptly to the Commission by amendment to Form F-X referencing the file number of this Registration Statement.</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">IV-4<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_400-sig_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tSIG"><!--Anchor--></a>SIGNATURES</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-10 and has duly caused this Amendment No.&#160;1 to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Oakville, Province of Ontario, Canada, on this 27th day of October, 2021.</div> <table cellspacing="0" cellpadding="0" class="txttab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 41.03%; text-align: left; vertical-align: top; padding-top: 6pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt;">&#8203;</td><td colspan="4" style="width: 56.41%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">ALGONQUIN POWER &amp; UTILITIES CORP.</div></td></tr><tr><td style="width: 41.03%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.13%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 48.72%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 41.03%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt;">&#8203;</td><td style="width: 5.13%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">By:</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 48.72%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 3pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 0pt; margin-left: 0pt; text-align: left;">/s/ Arthur Kacprzak </div></td></tr><tr><td style="width: 41.03%; text-align: left; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.13%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 48.72%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Name: Arthur Kacprzak</div></td></tr><tr><td style="width: 41.03%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.13%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 48.72%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Title: Chief Financial Officer</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 9.47pt; text-align: center;">[Signature Page to Algonquin Power &amp; Utilities Corp. Form F-10]<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_400-sig_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Pursuant to the requirements of the Securities Act of 1933, as amended, this Amendment No.&#160;1 to the Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.</div> <table cellspacing="0" cellpadding="0" class="txttab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 25.64%; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Signature</div></td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 53.85%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Title of Capacities</div></td><td class="gutter" style="width: 1.28%; font-size: 2pt; 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font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">October&#160;27, 2021</div></td></tr><tr><td style="width: 25.64%; text-align: left; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Arun Banskota</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td></tr><tr><td style="width: 25.64%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; 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font-size: 10pt; font-style: italic; margin-top: 0pt; margin-left: 0pt; text-align: left;">/s/ Arthur Kacprzak</div></td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" rowspan="2" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt;">&#8203;</td><td rowspan="2" style="width: 53.85%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Chief Financial Officer (principal financial officer and principal accounting officer)</div></td><td class="gutter" rowspan="2" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" rowspan="2" style="width: 1.28%; border-bottom: none; 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vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 53.85%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.38%; text-align: left; vertical-align: top; padding-top: 3pt; 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text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 53.85%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.38%; text-align: left; vertical-align: top; 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border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 53.85%; text-align: left; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.38%; text-align: left; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 25.64%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 53.85%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 15.38%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 25.64%; text-align: left; vertical-align: top; border-bottom: 1pt solid #000000; padding-top: 3pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 0pt; margin-left: 0pt; text-align: left;">/s/ Christopher Huskilson</div></td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt;">&#8203;</td><td style="width: 53.85%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Director</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt;">&#8203;</td><td style="width: 15.38%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">October&#160;27, 2021</div></td></tr><tr><td style="width: 25.64%; text-align: left; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Christopher Huskilson</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; 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Form F-10]<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="ny20001090x7_f10a_400-sig_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">AUTHORIZED REPRESENTATIVE</div> <div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Pursuant to the requirements of Section 6(a) of the Securities Act, as amended, the undersigned has signed this Amendment No.&#160;1 to the Registration Statement solely in the capacity of the duly authorized representative of Algonquin Power &amp; Utilities&#160;Corp. in the United States on this 27th day of October, 2021.</div> <table cellspacing="0" cellpadding="0" class="txttab" style="margin-top: 4pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 41.03%; text-align: left; vertical-align: top; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt;">&#8203;</td><td style="width: 5.13%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">By:</div></td><td class="gutter" style="width: 1.28%; 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border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.13%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 48.72%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Name: Jody Allison</div></td></tr><tr><td style="width: 41.03%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.13%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 48.72%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Title: President, Liberty Utilities Co.</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 9.47pt; text-align: center;">[Signature Page to Algonquin Power &amp; Utilities Corp. Form F-10]<br></div></div></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>ny20001090x7_ex3-1.htm
<DESCRIPTION>EXHIBIT 3.1
<TEXT>
<html>
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<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
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      <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">Exhibit 3.1</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">UNDERWRITING AGREEMENT</div>
    <div><br>
    </div>
    <div style="text-align: justify;">October 27, 2021</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Algonquin Power &amp; Utilities Corp.</div>
    <div style="text-align: justify;">354 Davis Road, Suite 100</div>
    <div style="text-align: justify;">Oakville, Ontario L6J 2X1</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Mr. Arun Banskota, President and Chief Executive Officer</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Dear Sirs and Mesdames:</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Algonquin Power &amp; Utilities Corp., a Canadian corporation (the &#8220;<font style="font-weight: bold;">Corporation</font>&#8221;), proposes to issue and sell to CIBC World Markets Inc. and Scotia Capital Inc. (together, the &#8220;<font style="font-weight: bold;">Lead Underwriters</font>&#8221;), BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., Morgan Stanley Canada Limited, Desjardins Securities Inc., iA Private Wealth Inc.,
      Raymond James Ltd., J.P. Morgan Securities Canada Inc., Merrill Lynch Canada Inc., Wells Fargo Securities Canada, Ltd. and HSBC Securities (Canada) Inc. (individually, an &#8220;<font style="font-weight: bold;">Underwriter</font>&#8221; and collectively with the
      Lead Underwriters, the &#8220;<font style="font-weight: bold;">Underwriters</font>&#8221;) 44,080,000<font style="font-weight: bold;"> </font>Common Shares (as hereinafter defined) of the Corporation (the &#8220;<font style="font-weight: bold;">Firm Securities</font>&#8221;).


      The Corporation also proposes to grant to the Underwriters an option (the &#8220;<font style="font-weight: bold;">Over&#8209;Allotment Option</font>&#8221;) to purchase additional Common Shares from the Corporation (the &#8220;<font style="font-weight: bold;">Option
        Securities</font>&#8221;) solely to cover over&#8209;allotments, if any, and for market stabilization purposes, in an amount equal to up to 15% of the number of Firm Securities (collectively, the Firm Securities and the Option Securities are together referred
      to as the &#8220;<font style="font-weight: bold;">Purchased Securities</font>&#8221;) in connection with the offering and sale of the Firm Securities (the &#8220;<font style="font-weight: bold;">Offering</font>&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The agreement resulting from the acceptance of this Agreement by the Corporation shall be subject to the following terms and conditions:</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 1</div>
    <div style="font-weight: bold;">DEFINITIONS</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In this Agreement, in addition to the terms defined above or elsewhere in this Agreement, the following terms shall have the following meanings:</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">1933 Act</font>&#8221; means the United States Securities Act of 1933, as amended, and the rules and regulations thereunder;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">1934 Act</font>&#8221; means the United States Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Acquisition</font>&#8221; means the proposed acquisition by Liberty Utilities of Kentucky Power and Kentucky TransCo pursuant to the terms of the Acquisition Agreement;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;Acquisition Agreement&#8221; means the stock purchase agreement dated October 26, 2021 between Liberty Utilities, as purchaser, and AEP and AEP TransCo, as sellers, pursuant to which the Corporation will acquire Kentucky
      Power and Kentucky TransCo;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">AEP</font>&#8221; means American Electric Power Company, Inc., a New York corporation;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">AEP TransCo</font>&#8221; means AEP Transmission Company, LLC, a Delaware limited liability company;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Agreement</font>&#8221; means this agreement, dated as of the date hereof, by and between the Corporation and each of the Underwriters;</div>
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    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Algonquin Companies</font>&#8221; means those companies and corporations as set out on page 2 of the Annual Information Form, which are owned directly or indirectly by the Corporation;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Algonquin Entities</font>&#8221; means, collectively, the Algonquin Companies, the Algonquin Partnerships and the Algonquin Trusts;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Algonquin Partnerships</font>&#8221; means those partnerships as set out on page 2 of the Annual Information Form, which are owned directly or indirectly by the Corporation;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Algonquin Trusts</font>&#8221; means those trusts as set out on page 2 of the Annual Information Form, which are owned directly or indirectly by the Corporation;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Amendment No. 1 to the Registration Statement</font>&#8221; means an amendment to the Initial Registration Statement, including the Canadian<font style="font-weight: bold;">&#160;</font>A&amp;R
      Preliminary Prospectus with such deletions therefrom and additions thereto as are permitted or required by Form F-10 and the applicable rules and regulations of the SEC, and including the exhibits thereto and the documents incorporated by reference
      therein and the documents otherwise deemed under applicable rules and regulations of the SEC to be a part thereof or included therein;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Amendment No. 2 to the Registration Statement</font>&#8221; means a further amendment to the Initial Registration Statement, including the Canadian<font style="font-weight: bold;">&#160;</font>Final






      Prospectus, with such deletions therefrom and additions thereto as are permitted or required by Form F-10 and the applicable rules and regulations of the SEC, and including the exhibits thereto and the documents incorporated by reference therein and
      the documents otherwise deemed under applicable rules and regulations of the SEC to be a part thereof or included therein;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Annual Information Form</font>&#8221; means the annual information form of the Corporation dated as of March 4, 2021;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Anti&#8209;Money Laundering Laws</font>&#8221; has the meaning ascribed thereto in Section 8.1(qq) hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Applicable Securities Laws</font>&#8221; means all Canadian Securities Laws and all applicable securities laws in the United States and the respective rules, regulations, instruments,
      blanket orders and blanket rulings thereunder together with all applicable published policies, policy statements and notices of the Canadian Securities Regulators and the Securities Commissions, as applicable;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Atlantica</font>&#8221; means Atlantica Sustainable Infrastructure plc, a public limited company incorporated under the laws of England and Wales;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Beneficiaries</font>&#8221; has the meaning ascribed thereto in Section 2(e) of Schedule A attached hereto;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Bribery Act</font>&#8221; has the meaning ascribed thereto in Section 8.1(oo) hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Business Day</font>&#8221; means any day, excluding Saturday, Sunday and any other day which is a legal, statutory or civic holiday or a day on which banking institutions are required by
      law, regulation or local proclamation to close in the City of Toronto, Province of Ontario, or the City of New York, State of New York, United States;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Canadian A&amp;R Preliminary Prospectus</font>&#8221; means the English and French language versions (unless the context otherwise requires) of the amended and restated preliminary short
      form prospectus of the Corporation to be dated October 27, 2021 relating to the Offering of the Purchased Securities and, unless the context otherwise requires, all documents incorporated therein by reference;</div>
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    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Canadian Final Prospectus</font>&#8221; means the English and French language versions (unless the context otherwise requires) of the final short form prospectus of the Corporation relating
      to the Offering of the Purchased Securities and, unless the context otherwise requires, all documents incorporated therein by reference;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Canadian Preliminary Prospectus</font>&#8221; means the English and French language versions (unless the context otherwise requires) of the preliminary short form prospectus of the
      Corporation dated October 26, 2021 relating to the Offering of the Purchased Securities and, unless the context otherwise requires, all documents incorporated therein by reference;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Canadian Prospectuses</font>&#8221; means, collectively, the Canadian Preliminary Prospectus, the Canadian A&amp;R Preliminary Prospectus, the Canadian Final Prospectus and any Prospectus
      Amendment to any of the foregoing;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Canadian Qualifying Jurisdictions</font>&#8221; means each of the provinces of Canada;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Canadian Securities Laws</font>&#8221; means the applicable securities laws in each of the Canadian Qualifying Jurisdictions and the respective rules and regulations thereunder, together
      with applicable published fee schedules, prescribed forms, national, multilateral and local policy statements, instruments, notices and blanket orders of the Canadian Securities Regulators in each of the Canadian Qualifying Jurisdictions;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Canadian Securities Regulators</font>&#8221; means, collectively, the securities commissions or other securities regulatory authorities in the Canadian Qualifying Jurisdictions;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">CIBC</font>&#8221; means CIBC World Markets Inc.;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Claim</font>&#8221; has the meaning ascribed thereto in Section 1(a) of Schedule A attached hereto;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Closing</font>&#8221; means the completion of the purchase of the Firm Securities;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Closing Date</font>&#8221; means the date on which the purchase of the Firm Securities will be completed which is scheduled for November 8, 2021 or such later date as the Corporation and the
      Underwriters may mutually agree upon in writing;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Common Shares</font>&#8221; means common shares in the capital of the Corporation;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Corporation</font>&#8221; means Algonquin Power &amp; Utilities Corp., a corporation incorporated under the federal laws of Canada;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Corporation Additional Written Communication</font>&#8221; has the meaning ascribed thereto in Section 8.1(d)<font style="font-weight: bold;">&#160;</font>hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">COVID-19 Outbreak</font>&#8221; has the meaning ascribed thereto in Section 8.1(uu);</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Disclosure Documents</font>&#8221; means, collectively, the Canadian Preliminary Prospectus, the Canadian A&amp;R Preliminary Prospectus, the Canadian Final Prospectus, the Initial
      Registration Statement, Amendment No. 1 to the Registration Statement, Amendment No. 2 to the Registration Statement, the Registration Statement, any U.S. Registration Statement Amendment, the U.S. Preliminary Prospectus, the U.S. A&amp;R Preliminary
      Prospectus, the U.S. Final Prospectus, any Issuer Free Writing Prospectus and any Prospectus Amendment;</div>
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    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">distribution</font>&#8221; and &#8220;<font style="font-weight: bold;">distribution to the public</font>&#8221; have the meaning as those terms are defined in Canadian Securities Laws and the term &#8220;<font style="font-weight: bold;">misrepresentation</font>&#8221; has the meaning ascribed to it in Canadian Securities Laws;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">documents incorporated by reference</font>&#8221; means, collectively, those documents incorporated by reference or deemed to be incorporated by reference in the Prospectuses, including any
      other document prepared by the Corporation and filed with the Canadian Securities Regulators or the SEC, as applicable, after the date of this Agreement and before the completion of the distribution of the Purchased Securities that is of a type that
      is required to be incorporated by reference in the Canadian Prospectuses pursuant to NI 44-101 or incorporated by reference in the U.S. Prospectuses pursuant to Applicable Securities Laws in the United States, respectively;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">EDGAR</font>&#8221; means the SEC&#8217;s Electronic Data Gathering, Analysis and Retrieval System;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Effective Date</font>&#8221; has the meaning ascribed thereto in Section 4.3(b);</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Environmental Laws</font>&#8221; means any Canadian, United States and other foreign, federal, provincial, state, local or municipal laws, statutes, codes, rules, orders, regulations and
      common law relating to the protection of human health and safety, the environment, natural resources or to hazardous or toxic substances or wastes, pollutants or contaminants;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Facilities</font>&#8221; has the meaning ascribed thereto in Section 8.1(cc) hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">FCPA</font>&#8221; has the meaning ascribed thereto in Section 8.1(oo) hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Final Receipt</font>&#8221; has the meaning ascribed thereto in Section 2.4;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Financial Information</font>&#8221; has the meaning ascribed thereto in Section 4.1(e)(i);</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Firm Securities</font>&#8221; has the meaning ascribed thereto on the first page hereof;</div>
    <div><br>
    </div>
    <div style="text-align: left;">&#8220;<font style="font-weight: bold;">Firm Securities Underwriting Commission</font>&#8221; has the meaning ascribed thereto in Section 3.1;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Form F-X</font>&#8221; has the meaning ascribed in Section 2.1(c);</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Indemnified Parties</font>&#8221; and &#8220;<font style="font-weight: bold;">Indemnified Party</font>&#8221; have the meaning ascribed thereto in Article 11;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Indemnifier</font>&#8221; has the meaning ascribed thereto in Section 2(a) of Schedule A attached hereto;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Initial Registration Statement</font>&#8221; means the registration statement on Form F-10 (File No. 333-260501) registering the offer and sale of the Purchased Securities under the 1933
      Act, including the Canadian Preliminary Prospectus with such deletions therefrom and additions thereto as are permitted or required by Form F-10 and the applicable rules and regulations of the SEC, and including the exhibits thereto and the documents
      incorporated by reference therein and the documents otherwise deemed under applicable rules and regulations of the SEC to be a part thereof or included therein;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Investment Company Act</font>&#8221; has the meaning ascribed thereto in Section 8.1(j) hereto;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Investor Presentation&#8221;</font> means the template version (as such term is defined in NI 41-101) of the investor presentation of the Corporation dated October 26, 2021 as filed with the
      Canadian Securities Regulators;</div>
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    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Issuer Free Writing Prospectus</font>&#8221; means any issuer free writing prospectus as defined in Rule 433 under the 1933 Act, including the Investor Presentation, the Term Sheet and the
      press release of the Corporation dated October 26, 2021 announcing the Offering and the Acquisition, in each case filed with the SEC pursuant to Rule 433;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Kentucky Power</font>&#8221; means Kentucky Power Company, a Kentucky corporation;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Kentucky TransCo</font>&#8221; means AEP Kentucky Transmission Company, Inc., a Kentucky corporation;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">knowledge of the Corporation</font>&#8221;<font style="font-weight: bold;">&#160;</font>means to the best of the knowledge, information and belief of Arun Banskota and Arthur Kacprzak, after due
      inquiry;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Lead Underwriters</font>&#8221; has the meaning ascribed thereto on the first page hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Liberty Utilities</font>&#8221; means Liberty Utilities Co., a Delaware corporation;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">marketing materials</font>&#8221; has the meaning ascribed thereto in NI 41&#8209;101;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Material Adverse Effect</font>&#8221; means any change, event or effect that is or would reasonably be expected to be materially adverse to: (i) the condition (financial or otherwise),
      earnings, properties, assets, business, operations or results of operations of the Corporation and its subsidiaries, taken as a whole (which, for greater certainty, includes anything that would result in the Disclosure Documents containing a
      misrepresentation, within the meaning of Applicable Securities Laws), or (ii) the ability of the Corporation to perform its obligations under, and consummate the transactions contemplated by, this Agreement;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Material Contract</font>&#8221; has the meaning ascribed thereto in Section 8.1(hh) hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">NI 41&#8209;101</font>&#8221; means National Instrument 41&#8209;101 &#8211; <font style="font-style: italic;">General Prospectus Requirements</font> adopted by the Canadian Securities Regulators;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">NI 44&#8209;101</font>&#8221; means National Instrument 44-101 &#8211; <font style="font-style: italic;">Short Form Prospectus Distributions</font> adopted by the Canadian Securities Regulators;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">NI 51&#8209;102</font>&#8221; means National Instrument 51&#8209;102 &#8211; <font style="font-style: italic;">Continuous Disclosure Obligations</font> adopted by the Canadian Securities Regulators;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">NYSE</font>&#8221; means the New York Stock Exchange;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Offering Marketing Materials</font>&#8221; means the written documents that constitute the template version (as defined in NI 41&#8209;101) that have been approved by the Corporation and the Lead
      Underwriters and are required to be filed with the Canadian Securities Regulators or other regulatory bodies in the Canadian Qualifying Jurisdictions in accordance with NI 44&#8209;101, including but not limited to the Investor Presentation and the Term
      Sheet;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Offering</font>&#8221; has the meaning ascribed thereto on the first page hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Option Closing Date</font>&#8221; has the meaning ascribed thereto in Section 3.2;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Option Closing Time</font>&#8221; has the meaning ascribed thereto in Section 3.2;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Option Securities Underwriting Commission</font>&#8221; has the meaning ascribed thereto in Section 3.2 hereof;</div>
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    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Option Securities</font>&#8221; has the meaning ascribed thereto on the first page hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Over&#8209;Allotment Option</font>&#8221; has the meaning ascribed thereto on the first page hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Passport Receipt</font>&#8221; means the receipt issued under the Passport System by the Ontario Securities Commission in its capacity as principal regulator in respect of a Canadian
      Prospectus;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Passport System</font>&#8221; means the system and procedures for prospectus filing and review under Multilateral Instrument 11&#8209;102 &#8211; <font style="font-style: italic;">Passport System</font>
      and National Policy 11&#8209;202 &#8211; <font style="font-style: italic;">Process for Prospectus Reviews in Multiple Jurisdictions </font>adopted by the Canadian Securities Regulators and its related memorandum of understanding;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Permits</font>&#8221; means all permits, consents, waivers, applications, authorizations, licences, certificates, approvals, registrations, franchises, rights, privileges and exemptions or
      the like issued or granted by any governmental authority or by any other third party, including, without limitation, any Permits pertaining to all applicable laws, regulations, standards, requirements, ordinances, policies, guidelines, orders,
      approvals, notices, directives, or parts thereof, pertaining to environmental or occupational health and safety matters;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Preliminary Prospectuses</font>&#8221; means, collectively, the Canadian Preliminary Prospectus and the U.S. Preliminary Prospectus;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Prospectus Amendment</font>&#8221; means any amendment to the Canadian Preliminary Prospectus, the Canadian A&amp;R Preliminary Prospectus, the Canadian Final Prospectus, or the U.S.
      Preliminary Prospectus, the U.S. A&amp;R Prospectus, and the U.S. Final Prospectus and other than merely by incorporation by reference of Supplementary Material;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Prospectuses</font>&#8221; means, collectively, the Canadian Prospectuses and the U.S. Prospectuses;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Purchase Price</font>&#8221; has the meaning ascribed thereto in Section 3.1;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Purchased Securities</font>&#8221; has the meaning ascribed thereto on the first page hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Purchasers</font>&#8221; means purchasers of Purchased Securities pursuant to the Prospectuses;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Registration Statement</font>&#8221; means the registration statement of the Corporation on Form F-10 (File No. 333-260501) registering the offer and sale of the Purchased Securities and the
      1933 Act, including the exhibits thereto and the documents incorporated by reference therein and the documents deemed under applicable rules and regulations of the SEC to be a part thereof or included therein, as amended at the date on which such
      registration statement becomes effective;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Representation Date</font>&#8221; has the meaning ascribed thereto in Section 8.1;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Sanctions</font>&#8221; has the meaning ascribed thereto in Section 8.1(pp) hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Scotia</font>&#8221; means Scotia Capital Inc.;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">SEC</font>&#8221; means the United States Securities and Exchange Commission;</div>
    <div><br>
    </div>
    <div style="text-align: left;">&#8220;<font style="font-weight: bold;">Securities Commissions</font>&#8221; mean, collectively, the SEC and any other applicable securities regulatory authority in each other jurisdiction as may be agreed to by the Corporation and
      the Underwriters;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">SEDAR</font>&#8221; means System for Electronic Document Analysis and Retrieval;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 7 -</font></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Selling Firms</font>&#8221; has the meaning ascribed thereto in Section 6.1(a);</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Supplementary Material</font>&#8221; means any supplemental or additional or ancillary material, information, evidence, return, report, application, statement or document filed by the
      Corporation with the Canadian Securities Regulators related to the Canadian Prospectuses;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Tax Act</font>&#8221; means the <font style="font-style: italic;">Income Tax Act</font> (Canada) and the regulations thereunder, as amended from time to time;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Term Sheet</font>&#8221; means the template version of the term sheet dated October 26, 2021 in respect of the Offering;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Termination Condition Existence Notice</font>&#8221; has the meaning ascribed thereto in Section 12.1;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Time of Closing</font>&#8221; means 8:00 a.m. (Toronto time) on the Closing Date;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">TMX Group</font>&#8221; has the meaning ascribed thereto in Section 19.2;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">TSX</font>&#8221; means the Toronto Stock Exchange;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">Underwriters</font>&#8221; has the meaning ascribed thereto on the first page hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">United States</font>&#8221; means the United States of America, its territories and possessions, any State of the United States, and the District of Columbia;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">U.S. A&amp;R Preliminary Prospectus</font>&#8221; means the Canadian A&amp;R Preliminary Prospectus with such deletions therefrom and additions thereto as are permitted or required by Form
      F-10 and the applicable rules and regulations of the SEC, included in Amendment No. 1 to the Registration Statement, including the documents incorporated by reference therein;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">U.S. Final Prospectus</font>&#8221; means the Canadian Final Prospectus with such deletions therefrom and additions thereto as are permitted or required by Form F-10 and the applicable rules
      and regulations of the SEC, included in the Registration Statement at the times it becomes effective, including the documents incorporated by reference therein;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">U.S. Preliminary Prospectus</font>&#8221; means, as of any time prior to the time the Registration Statement is declared or becomes effective, the Canadian Preliminary Prospectus with such
      deletions therefrom and additions thereto as are permitted or required by Form F-10 and the applicable rules and regulations of the SEC included in the Initial Registration Statement, including the documents incorporated by reference therein;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">U.S. Prospectuses</font>&#8221; means, collectively, the U.S. Preliminary Prospectus, the U.S. A&amp;R Preliminary Prospectus, the U.S. Final Prospectus and any Prospectus Amendment to any
      of the foregoing; <br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">&#8220;<font style="font-weight: bold;">U.S. Registration Statement Amendments</font>&#8221; means any amendment to Amendment No. 1 to the Registration Statement (other than Amendment No. 2 to the Registration Statement) and any
      post-effective amendment to the Registration Statement filed with the SEC during the offer and sale of the Purchased Securities; and</div>
    <div style="text-align: justify;"> <br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold;"><font style="font-weight: normal;">&#8220;</font>Work Fee</font>&#8221; has the meaning ascribed thereto in Section 3.3.<br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">Terms used herein which are defined in the Prospectuses and not otherwise defined herein shall have the meaning set forth in the Prospectuses unless the context requires otherwise.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 8 -</font></div>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 2</div>
    <div style="font-weight: bold;">FILING OF PROSPECTUSES AND REGISTRATION STATEMENT</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2641d3ea2c314e1da44818f6168e2072" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation represents and warrants to and for the benefit of the Underwriters that the Corporation has filed:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf88d3f4493ca4d80a7d00bc4c62ebbb2" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>with the Canadian Securities Regulators, the Canadian Preliminary Prospectus under, and as required by, Canadian Securities Laws;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc42c4028857a41668facb58ffe57ece6" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>with the SEC, the Initial Registration Statement to register the offer and sale of the Purchased Securities under the 1933 Act, including the U.S. Preliminary Prospectus; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd1af2ba695ab4002be1cb6bb5cc53ea4" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>with the SEC, an Appointment of Agent for Service of Process and Undertaking for the Corporation on Form F-X in conjunction with the initial filing of the Initial Registration Statement (the &#8220;<font style="font-weight: bold;">Form F-X</font>&#8221;).</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd1b2c292bf894580a31847c21f2229bb" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation shall deliver or cause to be delivered to the Underwriters and the Underwriters&#8217; counsel, as soon as it is available, a Passport Receipt for the Canadian Preliminary Prospectus.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze59261a5fb774bfea9eacb65380e6402" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation shall prepare and file as soon as reasonably possible and, in any event, not later than 5:30<font style="font-weight: bold;">&#160;</font>p.m. (Toronto time) on October 27, 2021 (or such later date and time as may be agreed to
              in writing by the Lead Underwriters): (a) the Canadian A&amp;R Preliminary Prospectus and all such other documents as are required under Canadian Securities Laws (in both the English and French languages) with each of the Canadian Securities
              Regulators and, as promptly as&#160; practicable thereafter, obtain and deliver to the Underwriters a Passport Receipt, issued by the Ontario Securities Commission evidencing a receipt for the Canadian A&amp;R Preliminary Prospectus has been
              issued or deemed to be issued by the Canadian Securities Regulators in the Canadian Qualifying Jurisdictions; and (b) Amendment No. 1 to the Registration Statement, including the U.S. A&amp;R Preliminary Prospectus, with the SEC, in
              accordance with the 1933 Act.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z04b826f5f9464c879f56bda0b718eb91" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.4</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation shall, under Canadian Securities Laws, as soon as practicable after any comments of the Canadian Securities Regulators in respect of the Canadian A&amp;R Preliminary Prospectus have been satisfied and in any event by 5:30<font style="font-weight: bold;">&#160;</font>p.m. (Toronto time) on November 3, 2021 (or in any case, by such later date or dates as my be determined by the Lead Underwriters in their sole discretion) prepare and file the Canadian Final Prospectus
              under and as required by Canadian Securities Laws with each of the Canadian Securities Regulators and, as promptly as practicable thereafter, obtain and deliver to the Underwriters a Passport Receipt issued by the Ontario Securities
              Commission evidencing that a receipt for the Canadian Final Prospectus has been issued or deemed to be issued by the Canadian Securities Regulators in each Canadian Qualifying Provinces (the &#8220;<font style="font-weight: bold;">Final Receipt</font>&#8221;).</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z132ce875a4f4413ead72fc71ecd8db30" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.5</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation shall, immediately after the filing of the Canadian Final Prospectus but no later than 5:30 p.m. (Toronto time) on November 3,<font style="font-weight: bold;">&#160;</font>2021 (or in any case, by such later date or dates as my
              be determined by the Lead Underwriters in their sole discretion) prepare and file with the SEC Amendment No. 2 to the Registration Statement, including the U.S. Final Prospectus, which Amendment No. 2 to the Registration Statement will become
              effective under the 1933 Act upon filing thereof pursuant to Rule 467(a) under the 1933 Act.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7dc852a932cb41cebcd97dec68cbd905" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.6</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation will use its reasonable commercial efforts to obtain the conditional listing of the Purchased Securities on the TSX by the Closing Time, subject to the satisfaction by the Corporation of the customary conditions as
              specified by the TSX, and approval for listing of the Purchased Securities on the NYSE by the Closing Time, subject only to the official notice of issuance, and the Corporation will on a timely basis satisfy all such conditions to listing of
              both such exchanges.</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 9 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze97a734fd0994ba5bb72466e94d6f19b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.7</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation agrees to allow the Underwriters, prior to the filing of the Disclosure Documents, to participate fully in the preparation of the Disclosure Documents and such other documents as may be required under Applicable Securities
              Laws to (a) qualify the distribution of the Purchased Securities in each of the Canadian Qualifying Jurisdictions, (b) register the Purchased Securities with the SEC, and (c) to allow the Underwriters to conduct all &#8220;due diligence&#8221;
              investigations which the Underwriters may reasonably require to:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;fulfill the Underwriters&#8217; obligations as underwriters; and</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc44b53a3f8ca48d0a5236891aa47ceda" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>enable the Underwriters to responsibly execute the certificates in the Canadian Prospectuses required to be executed by the Underwriters.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8b58af53d4fa4bd896d5fed5392c87c2" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.8</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation, subject to Section 2.9 hereof, will comply with the requirements under Applicable Securities Laws, and will promptly notify the Lead Underwriters, and confirm the notice in writing, of: (a) the effectiveness as of the date
              hereof and up to and including the Closing Date of any post-effective amendment to the Prospectuses or the Registration Statement or the filing of any supplement or amendment thereto; (b) any request by the Canadian Securities Regulators or
              the SEC for any amendment or supplement to the Prospectuses or the Registration Statement or for additional information; (c) the receipt of any comments from the Canadian Securities Regulators or the SEC beginning as of the date hereof and up
              to and including the Closing Date; and (d) the issuance by the Canadian Securities Regulators or the SEC of any stop order or of any order preventing or suspending the use of the Prospectuses in respect of the Purchased Securities, of any
              notice of objection of the SEC to the use of the form of the Registration Statement or any post-effective amendment thereto, of the suspension of the qualification of the Purchased Securities for offering or sale in the Canadian Qualifying
              Jurisdictions or the United States, of the initiation or threatening of any proceeding for any such purpose, or of any request by the Canadian Securities Regulators or the SEC for additional information relating to the Purchased Securities.
              The Corporation will promptly cause: (a) each amendment or supplement to the Canadian Prospectuses to be filed with the Canadian Securities Regulators as required pursuant to Canadian Securities Laws or, in the case of any document to be
              incorporated therein by reference, to be filed with the Canadian Securities Regulators as required pursuant to Canadian Securities Laws and within the time period prescribed; and (b) each amendment or supplement to the U.S. Prospectus to be
              filed with the SEC as required pursuant the 1933 Act. The Corporation will use its reasonable best efforts to prevent the issuance of any stop order and, if any stop order is issued, to obtain the lifting thereof at the earliest possible
              moment.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z184b8dfc4a234ce0a11bf32db734175e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.9</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>As of the date hereof and up to and including the Closing Date, the Corporation will give the Lead Underwriters notice of its intention to file or prepare any amendment to the Registration Statement, or any amendment, supplement or
              revision to the Prospectuses or the Disclosure Documents, whether pursuant to Applicable Securities Laws, the 1933 Act, the 1934 Act or otherwise, will furnish the Lead Underwriters with copies of any such documents a reasonable amount of
              time prior to such proposed filing or use, as the case may be, and will not file or use any such document to which the Lead Underwriters or counsel for the Underwriters shall reasonably object, it being agreed that all references in this
              Agreement to information which is &#8220;contained&#8221;, &#8220;included&#8221; or &#8220;stated&#8221; (or other references of like import) in the Prospectuses or the Registration Statement shall be deemed to mean and include all such information which is or is deemed to be
              incorporated by reference in or otherwise deemed under the Applicable Securities Laws to be a part of or included in the Prospectuses or the Registration Statement, as the case may be, as of the date hereof; and all references in this
              Agreement to amendments or supplements to the Registration Statement or the U.S. Prospectuses shall be deemed to mean and include the filing of any document under the 1934 Act which is deemed to be incorporated therein by reference or
              otherwise deemed to be a part of or included in the Registration Statement or the U.S. Prospectuses, as the case may be, after the date hereof.</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
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      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 10 -</font></div>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 3</div>
    <div style="font-weight: bold;">PURCHASE AND SALE AND OVER&#8209;ALLOTMENT OPTION</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfba99dac4b2449aca845315a3704c4b7" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">3.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Based upon the foregoing and on the basis of the representations, warranties, covenants and agreements contained herein and subject to the terms and conditions herein, the Corporation agrees to issue and sell to the several Underwriters
              and each of the Underwriters agrees severally (and not jointly or jointly and severally) to purchase from the Corporation, the respective percentage of Firm Securities set forth opposite their respective names in Section 15.1 of this
              Agreement at a purchase price of C$18.15 per Firm Security (the &#8220;<font style="font-weight: bold;">Purchase Price</font>&#8221;), payable on the Closing Date. As compensation to the Underwriters for their respective commitments hereunder, on the
              Closing Date, the Corporation will pay to CIBC for the accounts of the several Underwriters, an underwriting commission (the &#8220;<font style="font-weight: bold;">Firm Securities Underwriting Commission</font>&#8221;) with respect to the Firm
              Securities equal to 4.00% of the aggregate gross proceeds of Firm Securities.&#160; The parties agree that (a) the Underwriters shall set off the Firm Securities Underwriting<font style="font-weight: bold;">&#160;</font>Commission against a
              corresponding portion of the purchase price payable to the Corporation on the Closing Date under this Section 3.1; and (b) the payment by the Underwriters of the aggregate Purchase Price for the Firm Securities net of the Firm Securities
              Underwriting Commission shall be full satisfaction of the Underwriters obligation to pay the aggregate Purchase Price for the Firm Securities set forth in this Section 3.1 and the Corporation&#8217;s obligation to pay the Firm Securities
              Underwriting Commission.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4659c8a36a934678aa1adda6ce045ed1" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">3.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>In addition, based upon the foregoing and on the basis of the representations, warranties, covenants and agreements contained herein and subject to the terms and conditions herein below, the Corporation hereby grants an Over-Allotment
              Option to the Underwriters, severally (and not jointly or jointly and severally), to purchase up to an additional 6,612,000 Option Securities, representing 15% of the number of Firm Securities, at a purchase price equal to the Purchase Price.
              The Over-Allotment Option may be exercised for 30 days after the Closing Date and may be exercised in whole or in part on one occasion prior to its expiry for the purpose of covering over-allotments made in connection with the offering and
              distribution of the Firm Securities or for market stabilization purposes permitted pursuant to Applicable Securities Laws. Delivery of and payment for any Option Security will be made electronically at the time (the &#8220;<font style="font-weight: bold;">Option Closing Time</font>&#8221;) on the date set out in the written notice of the Lead Underwriters referred to below (the &#8220;<font style="font-weight: bold;">Option Closing Date</font>&#8221;) which may occur on the Closing Date but will in no
              event occur earlier than the Closing Date, nor earlier than two Business Days or later than five Business Days after the date upon which the Corporation receives written notice from the Lead Underwriters on behalf of the Underwriters, setting
              out the number of Option Securities to be purchased by the Underwriters, which notice must be received by the Corporation not later than 5:00 p.m. (Toronto time) on the date that is 30 days after the Closing Date. Upon the furnishing of the
              notice, the Underwriters will severally (and not jointly or jointly and severally) be committed to purchase Option Securities, in the respective percentages set forth opposite their respective names in Section 15.1 of this Agreement, and the
              Corporation will be committed to issue and sell in accordance with and subject to the provisions of this Agreement the number of Option Securities indicated in the notice. The Corporation agrees that the number of Option Securities to be
              issued upon exercise of the Over-Allotment Option shall be adjusted for any stock splits, consolidations or other changes to the Common Shares after the Closing Date, if any. As compensation to the Underwriters for their respective
              commitments hereunder, on each Option Closing Date, the Corporation will pay to CIBC, for the accounts of the several Underwriters, an underwriting commission (the &#8220;<font style="font-weight: bold;">Option Securities Underwriting Commission</font>&#8221;)






              of C$0.726 per Option Security purchased on such Option Closing Date. The parties agree that (a) the Underwriters shall set off the Option Securities Underwriting Commission against a corresponding portion of the Purchase Price payable to the
              Corporation on the applicable Option Closing Date under this Section 3.2, and (b) the payment by the Underwriters of the aggregate Purchase Price for the Option Securities purchased on such Option Closing Date net of the Option Securities
              Underwriting Commission shall be full satisfaction of the Underwriters&#8217; obligation to pay the aggregate Purchase Price set forth in this Section 3.2 for the Option Securities purchased on such Option Closing Date and the Corporation&#8217;s
              obligation to pay the Option Securities Underwriting Commission on such Option Closing Date.</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 11 -</font></div>
    </div>
    <div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">3.3</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>CIBC and Scotia shall be entitled to receive, out of the Firm Securities Underwriting Commission and Option Securities Underwriting Commission, a work fee equal to 5.0% of the Firm Securities Underwriting Commission or Option Securities
                Underwriting Commission, as applicable (the &#8220;<font style="font-weight: bold;">Work Fee</font>&#8221;), payable 70% to CIBC and 30% to Scotia. For greater certainty, the Work Fee shall not increase the amount payable by the Corporation to the
                Underwriters hereunder.<br>
              </div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb7ef535f2114417389f602353698d9ee" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">3.4</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Lead Underwriters hereby advise the Corporation that the Underwriters intend to offer for sale to the public, as described in the Disclosure Documents, their respective portions of the Firm Securities as soon after the execution of
              this Agreement as the Lead Underwriters, in their sole judgment, have determined is advisable and practicable.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4d596bcc59eb4370a0b97c0b4faedd3a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">3.5</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Underwriters may offer the Purchased Securities at a price less than the Purchase Price per Purchased Security in compliance with Applicable Securities Laws and the disclosure concerning the same which is contained in the Canadian
              Prospectuses. Each agreement of the Underwriters to establish a banking, selling or other group in respect of the distribution of the Purchased Securities shall contain a similar covenant by each Selling Firm. Any such reduction in the
              offering price shall not affect the Purchase Price to be paid by the Underwriters to the Corporation.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zec5bf7f8e4ca48a497127714e0bb818b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">3.6</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Each of the Underwriters shall offer the Purchased Securities for sale to the public directly and through the Selling Firms upon the terms and conditions set out in the Prospectuses and this Agreement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 4</div>
    <div style="font-weight: bold;">DELIVERY OF THE PROSPECTUSES AND RELATED DOCUMENTS</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zacab95dc1c4b45bbb3a6616eca00e244" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">4.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation shall deliver or cause to be delivered to the Underwriters and the Underwriters&#8217; counsel the documents set out below at the respective times indicated:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc36c9465a1244810a88476d9560dbc68" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>prior to or contemporaneously, as nearly as practicable, with the filing with the Canadian Securities Regulators of each of the Canadian A&amp;R Preliminary Prospectus and the Canadian Final Prospectus, copies of the Canadian A&amp;R
              Preliminary Prospectus and the Canadian Final Prospectus, each in the English and French languages, signed as required by the Canadian Securities Laws, and copies of any documents incorporated by reference therein which have not previously
              been delivered to the Underwriters or are not otherwise available on SEDAR;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0ef25ba307c5474585db97d68ce74149" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>prior to or contemporaneously, as nearly as practicable, with the filing thereof with the SEC copies of Amendment No. 1 to the Registration Statement and Amendment No. 2 to the Registration Statement, including in each case the prospectus
              contained therein as filed with the SEC, and copies of any documents incorporated by reference therein which have not previously been delivered to the Underwriters or are not otherwise available on EDGAR;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6aff1e74b77d4a2aafc4eb811856d1ab" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>as soon as they are available and during the period of distribution of the Purchased Securities, copies of the English and French language versions, as applicable, of any Prospectus Amendment required to be filed under Canadian Securities
              Laws, signed as required by Canadian Securities Laws;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 12 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd0b803d98c414c29b5a4ef5582a1fbab" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>as soon as they are available and during the period of distribution of the Purchased Securities, copies of any documents incorporated by reference in or exhibits to the Canadian Prospectuses, the U.S. Prospectuses, the Registration
              Statement or any amendment to any of them which have not been previously delivered to the Underwriters or are not otherwise available on SEDAR or EDGAR;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbf015825938841d3a1710db1575f4987" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>at the time of delivery of the French language version of each of the Canadian A&amp;R Preliminary Prospectus, the Canadian Final Prospectus or any Prospectus Amendment to the Underwriters pursuant to this Section 4.1:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z26fa79cdbaf14bdb8f7adf1195c94643" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>an opinion of counsel for the Corporation in the Province of Qu&#233;bec, acceptable to the Lead Underwriters, on behalf of the Underwriters, acting reasonably, dated the date of the Canadian A&amp;R Preliminary Prospectus, the Canadian Final
              Prospectus or the Prospectus Amendment, as the case may be, to the effect that, except for any financial statements and financial information which are the subject of the opinion of the Corporation&#8217;s auditors referred to below (collectively,
              the &#8220;<font style="font-weight: bold;">Financial Information</font>&#8221;), each of the Canadian A&amp;R Preliminary Prospectus, the Canadian Final Prospectus and such Prospectus Amendment, as applicable, in the French language, together with any
              document or information in the French language incorporated by reference therein, including any marketing materials, is in all material respects, a complete and accurate translation of the English language version thereof; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaaa4bd14f63a4c4aada6108245c9b7ee" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>an opinion of Ernst &amp; Young LLP, Toronto, Ontario, auditors of the Corporation, acceptable in form and substance to the Lead Underwriters, on behalf of the Underwriters, acting reasonably, addressed to the Underwriters dated the date
              of the Canadian A&amp;R Preliminary Prospectus, the Canadian Final Prospectus or the Prospectus Amendment, as the case may be, to the effect that the French version of the Financial Information set forth in the Canadian A&amp;R Preliminary
              Prospectus, the Canadian Final Prospectus or such Prospectus Amendment, as applicable, together with any Financial Information incorporated by reference therein, including into any marketing materials, is in all material respects a complete
              and accurate translation of the English language version thereof;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb3e4823e7f6749509eef95502d55e284" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(f)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>at the time of filing the Canadian Final Prospectus or any Prospectus Amendment to the Canadian Final Prospectus, as the case may be, a comfort letter from: (i) Ernst &amp; Young LLP, Toronto, Ontario, the auditors of the Corporation with
              respect to the Financial Information and statistical and accounting data relating to the Corporation; and (ii) Ernst &amp; Young, S.L., the auditors of Atlantica, with respect to the financial and accounting information related to Atlantica,
              in each case included in or incorporated by reference in the Canadian Final Prospectus or U.S. Final Prospectus or any Prospectus Amendment to the Canadian Final Prospectus or U.S. Final Prospectus, dated the date of the Canadian Final
              Prospectus or U.S. Final Prospectus or any Prospectus Amendment to the Canadian Final Prospectus or U.S. Final Prospectus, as the case may be, with a cut&#8209;off date for investigation not more than two Business Days prior to the date of the
              comfort letter, and acceptable in form and substance to the Underwriters, acting reasonably, which comfort letter shall be in addition to any comfort letters required by and addressed to Canadian Securities Regulators or the SEC; and</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 13 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc704b3194d83497ab6a5a8313e1307a8" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(g)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>at the time of filing the Canadian Final Prospectus, the Lead Underwriters shall have received a certificate of the Chief Financial Officer of the Corporation, in form and substance reasonably satisfactory to the Lead Underwriters on
              behalf of the Underwriters, with respect to certain financial information included in or incorporated by reference in the Canadian Final Prospectus or the U.S. Final Prospectus.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0ff4cbf0915c4f9f8eaa3d4c394073c8" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">4.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The delivery to the Underwriters of the filed Canadian Preliminary Prospectus, the Canadian A&amp;R Preliminary Prospectus and the Canadian Final Prospectus shall constitute a representation and warranty to the Underwriters by the
              Corporation that:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z27cd386f5a2643acb4ff1ac98982d56a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the information and statements contained in the Canadian Preliminary Prospectus, the Canadian A&amp;R Preliminary Prospectus and the Canadian Final Prospectus, as the case may be, and of any documents incorporated therein by reference
              (except any information and statements relating solely to the Underwriters which has been provided in writing to the Corporation by or on behalf of any Underwriter through the Lead Underwriters specifically for inclusion therein) constitutes
              full, true and plain disclosure of all material facts relating to the Corporation and the Purchased Securities as required by Canadian Securities Laws; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z549462faa35a40d39d89484532b10a18" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Canadian Preliminary Prospectus, the Canadian A&amp;R Preliminary Prospectus and the Canadian Final Prospectus do not contain a misrepresentation within the meaning of Canadian Securities Laws.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">Such delivery shall also constitute the consent of the Corporation to the use of the Canadian Preliminary Prospectus, the Canadian A&amp;R Preliminary Prospectus and the Canadian Final Prospectus by
      the Underwriters in connection with the distribution of the Purchased Securities in the Canadian Qualifying Jurisdictions and to the use of the U.S. Prospectuses in connection with the distribution of the Purchased Securities in the United States.</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8ec1e1df00014d248ed5e9242a3eb158" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">4.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation hereby represents, warrants and covenants to the Underwriters as follows:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zde4916f0a47e49059a8e3aa48d28a8c9" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the documents incorporated by reference or deemed to be incorporated by reference into the Disclosure Documents, when they were filed with the Canadian Securities Regulators or the SEC, as the case may be, conformed in all material
              respects to the requirements of Applicable Securities Laws; and any further documents so filed and incorporated by reference into the Disclosure Documents during the period of distribution of the Purchased Securities, when such documents are
              filed with the Canadian Securities Regulators or the SEC, as applicable, will conform in all material respects to the requirements of Applicable Securities Laws, as applicable;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4399036b71124750a76ab2cf9e2fd50b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>on the effective date of the Registration Statement (the &#8220;<font style="font-weight: bold;">Effective Date</font>&#8221;), the Registration Statement will, and on the date it is first filed and at the Closing Time (including on any Option Closing
              Date), each of the U.S. A&amp;R Preliminary Prospectus and the U.S. Final Prospectus will conform in all material respects with the 1933 Act; on the date first filed the Canadian Preliminary Prospectus conformed, and on the date first filed
              the Canadian A&amp;R Preliminary Prospectus and the Canadian Final Prospectus and any Prospectus Amendment will, and at the Closing Time, the Canadian Final Prospectus, as amended by any Prospectus Amendment will, conform in all material
              respects with&#160; the applicable requirements of Canadian Securities Laws; the Registration Statement, as of the Effective Date, will not contain an untrue statement of a material fact or omit to state a material fact required to be stated
              therein or necessary to make the statements therein not misleading and the U.S. Final Prospectus as of its filing date (including the Effective Date) and as of the Closing Time (including on any Option Closing Date), will not contain an
              untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that
              this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Corporation by or on behalf of any Underwriter through the Lead Underwriters
              specifically for inclusion in the Registration Statement, the Canadian Prospectuses or the U.S. Prospectuses;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 14 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd6505e82de72422d95ef3515e13c430a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>as of the Closing Time (including on any Option Closing Date), the Disclosure Documents will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make
              the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to any statements in or omissions from the Disclosure Documents
              made in reliance upon and in conformity with information furnished in writing to the Corporation by or on behalf of any Underwriter through the Lead Underwriters specifically for inclusion therein;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8367275e20af416ea826a5cd6082aa22" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>that it has not made, and agrees that, unless it obtains the prior written consent of the Lead Underwriters, it will not make, any offer relating to the Firm Securities that would constitute an Issuer Free Writing Prospectus or that would
              otherwise constitute a &#8220;free writing prospectus&#8221; (as defined in Rule 405 under the 1933 Act) required to be filed by the Corporation with the SEC or retained by the Corporation under Rule 433 under the 1933 Act, provided that the prior
              written consent of the Lead Underwriters shall be deemed to have been given in respect of the Investor Presentation, the Term Sheet and the press release of the Corporation dated October 26, 2021 announcing the Offering and the Acquisition.
              The Corporation consents to the use by any Underwriter of a free writing prospectus that (a) is not an &#8220;issuer free writing prospectus&#8221; as defined in Rule 433 under the 1933 Act, and (b) contains only (i) information describing the
              preliminary terms of the offering of Firm Securities, (ii) information permitted by Rule 134 under the 1933 Act, (iii) pricing information or (iv) information that describes the final terms of the Firm Securities or the Offering and that is
              included in the Offering Marketing Materials of the Corporation;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z088b301cf1d74466891f77e8d89ac845" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>each Issuer Free Writing Prospectus does not and will not include any information that conflicts with the information contained in the Registration Statement, including any document incorporated therein by reference that has not been
              superseded or modified; if there occurs an event or development as a result of which the U.S. Prospectuses or the Disclosure Documents would include an untrue statement of a material fact or would omit to state a material fact necessary in
              order to make the statements therein, in the light of the circumstances then prevailing, not misleading, or as a result of which any Issuer Free Writing Prospectus would include any information that conflicts with the information contained in
              the Registration Statement, the Corporation will notify promptly the Lead Underwriters so that any use of the U.S. Prospectuses and the Disclosure Documents may cease until it is amended or supplemented; and each Issuer Free Writing
              Prospectus will comply in all material respects with the requirements of the 1933 Act;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbb1eb9caf80a40e6a53600c8f5668aac" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(f)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>it has not and will not distribute during the term of this Agreement, any &#8220;marketing materials&#8221; in connection with the offering and sale of the Purchased Securities other than the Registration Statement, the Prospectuses (including the
              Offering Marketing Materials) and any Issuer Free Writing Prospectus reviewed and consented to by the Lead Underwriters, provided that the Underwriters, severally and not jointly, covenant with the Corporation not to take any action that
              would result in the Corporation being required to file with the Canadian Securities Regulators or the SEC any &#8220;marketing materials&#8221; that otherwise would not be required to be filed by the Corporation, but for the action of the Underwriters;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 15 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9cfa17c680eb4c7f965e8900f85cc61d" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(g)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>it agrees to pay the required Canadian Securities Regulators and SEC filing fees relating to the Firm Securities and any other fees required by the Securities Commissions within the time required by and in accordance with Applicable
              Securities Laws;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0fa4dfc07092400c8ed65216580fe29c" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(h)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>to use its best efforts to ensure that members of management are available to provide assistance to the Underwriters, as requested by the Underwriters, with respect to the marketing of the Purchased Securities;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbaa7ed854a814e1095922fc21902dd5c" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>it has not taken and will not take, directly or indirectly, any action designed to or that would constitute or that might reasonably be expected to cause or result in, under Canadian Securities Laws, stabilization or manipulation of the
              price of the Firm Securities to facilitate the sale or resale of the Firm Securities, and the Corporation has not taken and will not take, directly or indirectly, any action designed to or that would constitute or that might reasonably be
              expected to cause or result in, under the 1934 Act, stabilization or manipulation of the price of the Firm Securities to facilitate the sale or resale of the Firm Securities; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zed9c004955194e8790f8cbc8c5d2eaae" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(j)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>without the prior written consent of the Lead Underwriters, on behalf of the Underwriters (such consent not to be unreasonably withheld), the Corporation will not, and will not publicly disclose an intention to, for a period of 60 days
              from the Closing Date: (A) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of,
              directly or indirectly, any Common Shares or any securities convertible into or exercisable or exchangeable for Common Shares, (B) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
              consequences of ownership of Common Shares, whether any such transaction described in clause (A) or (B) above is to be settled by delivery of Common Shares or such other securities, in cash or otherwise or (C) file or submit any prospectus or
              registration statement with the Canadian Securities Regulators or the SEC relating to the offering of any Common Shares or any securities convertible into or exercisable or exchangeable for Common Shares or publicly disclose the intention to
              do any of the foregoing. The restrictions in the foregoing sentence shall not apply to: (i) the issuance by the Corporation of Common Shares issued and sold pursuant to the Offering, including as a result of the exercise of the Over&#8209;Allotment
              Option; (ii) the issuance by the Corporation of Common Shares upon the exercise of an option, warrant or purchase contract or the conversion of a security outstanding as of the date of this Agreement; (iii) the issuance by the Corporation of
              any Common Shares or options to acquire Common Shares or other award, right or grant pursuant to the Corporation&#8217;s stock option plan, deferred share unit plan, performance and restricted share unit plan or employee share purchase plan
              existing as of the date of this Agreement and the issuance of Common Shares in connection with the exercise or vesting of any such options, awards rights or grants; (iv) the issuance by the Corporation of any Common Shares pursuant to its
              dividend reinvestment plan; or (v) the filing of any base shelf prospectus, any prospectus supplement or registration statement for the renewal of the Corporation&#8217;s at-the-market equity program or any registration statement for the renewal of
              the Corporation&#8217;s dividend reinvestment plan, provided in respect of item (v) that, without the prior written consent of the Lead Underwriters, on behalf of the Underwriters (such consent not to be unreasonably withheld),&#160; no Common Shares or
              any securities convertible into or exercisable or exchangeable for Common Shares may be distributed in respect of such base shelf prospectus, prospectus supplement or registration statement and the Corporation may not publicly disclose an
              intention in respect of any such distribution during such 60 day period following the Closing Date.</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 16 -</font></div>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 5</div>
    <div style="font-weight: bold;">COMMERCIAL COPIES OF THE PROSPECTUSES</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9fd8a1d58a914d738e7311637e742cab" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">5.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation shall deliver to the Underwriters, as soon as practicable and in any event no later than noon (Toronto time) on the Business Day following the date of the filing of the Canadian A&amp;R Preliminary Prospectus, Canadian
              Final Prospectus, U.S. A&amp;R Preliminary Prospectus or the U.S. Final Prospectus, as applicable (in each case excluding documents incorporated by reference therein), with the Canadian Securities Regulators or the SEC, as applicable, at
              offices designated by the Underwriters in the city where printing occurs, such number of commercial copies of such Prospectuses as the Underwriters may reasonably request by instructions to the printer thereof given no later than the Business
              Day prior to the time when the Corporation plans to authorize the printing of the commercial copies of such Prospectuses. The Corporation shall, as soon as possible following a request by the Underwriters, cause to be delivered to the
              Underwriters such additional commercial copies of such Prospectuses in such numbers and at such offices in such other cities as the Underwriters may reasonably request from time to time.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z22b6c825cc594cd894494d24044e5849" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">5.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation shall from time to time deliver to the Underwriters, as soon as practicable at the offices in such cities reasonably designated by the Underwriters, the number of copies of any documents incorporated by reference in the
              Canadian Final Prospectus and the U.S. Final Prospectus and of any Supplementary Material or any Prospectus Amendment which the Underwriters may from time to time reasonably request.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 6</div>
    <div style="font-weight: bold;">COVENANTS OF THE UNDERWRITERS</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z39c6371fd0ae4b199ccf82ea1bae7654" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">6.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Each Underwriter severally (and not jointly or jointly and severally) covenants with the Corporation that it shall:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb8a79f2672ff462cb07cd6e503a1ec1b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>conduct its activities in attempting to sell the Purchased Securities, directly and through other registered dealers (or other dealers duly qualified in their respective jurisdictions) (the &#8220;<font style="font-weight: bold;">Selling Firms</font>&#8221;)






              in compliance with all relevant laws and regulatory requirements;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0cd3da2327e64eb7a7bbe6bc98d5c64e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>not be liable to the Corporation under this Section 6.1 with respect to a default by another Underwriter (or another Selling Firm that is not an affiliate of such Underwriter);</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9ba3ed9836554224ae1c37dab8ad05b4" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>deliver one copy of the Canadian Final Prospectus to each Purchaser or prospective purchaser of Purchased Securities;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze221cdf39d914ce2bca94cb3ee0c828e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>offer and cause the Selling Firms to offer the Purchased Securities for sale to the public and sell the Purchased Securities only in those jurisdictions where they may lawfully be offered for sale;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 17 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcd732fa7d92644749993c8218c74237b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>from the date of commencement of the distribution of the Purchased Securities to the date such distribution ceases, each Underwriter and Selling Firm (i) will not make use of any &#8220;bluesheet&#8221; or provide any other marketing materials other
              than the Offering Marketing Materials in respect of the Purchased Securities without the approval of the Corporation and CIBC and no &#8220;standard term sheet&#8221; (as defined in NI 41&#8209;101) in respect of the Purchased Securities will be provided by
              them to any potential investors of the Purchased Securities without the approval of the Corporation and CIBC; and (ii) will provide a copy of the Canadian Final Prospectus to each potential investor of the Purchased Securities who receives
              the Offering Marketing Materials; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd92e972f9eca4ca7b5c34d8cf3cb5829" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(f)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>use reasonable best efforts (taking into account the respective interests of each of the Corporation and the Underwriters) to complete, and cause the Selling Firms to complete, the distribution of the Purchased Securities as soon as
              possible after the Time of Closing. The Underwriters shall notify the Corporation when, in the Underwriters&#8217; opinion, the distribution of the Purchased Securities has been completed and provide the Corporation, as soon as reasonably practical
              thereafter, with a breakdown of the number of Purchased Securities distributed in each of the Canadian Qualifying Jurisdictions where such breakdown is required by the securities regulatory authority of such jurisdiction.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 7</div>
    <div style="font-weight: bold;">NOTICE OF MATERIAL CHANGE</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfd8575fc8c304cfdbd5b31891db69112" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">7.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>During the period of distribution to the public of the Purchased Securities, which shall be the period from the date hereof to the date upon which the Corporation has received the notice of termination contemplated in Section 12.1 or the
              notice that distribution has ceased contemplated in Section 6.1(f) hereof, whichever is earlier, the Corporation shall promptly notify the Underwriters in writing of:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbd893168bc084d2f8df4220a820a6383" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>any material fact that has arisen or has been discovered which would have been required to have been stated in the Disclosure Documents or any Supplementary Material, as the case may be, had the fact arisen or been discovered on, or prior
              to, the date of such document;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zea871e1113674930999da58ded6f83a2" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>any material change&#160; (as defined in Applicable Securities Laws) (actual, anticipated or, to the knowledge of the Corporation, threatened) in or affecting the business, operations, revenues, capital, properties, results of operations,
              affairs, assets, capitalization, condition (financial or otherwise), rights or liabilities (contingent or otherwise) of the Corporation;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd367d947ff1c458fad173cf98380a9cc" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>any change in a material fact in the Disclosure Documents or any Supplementary Material, as the case may be, or the existence of any new material fact, which change or new material fact is, or may be of such a nature as:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z55b9d3eb29e84e5e91b39f02c2ecd2bc" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>to render the Disclosure Documents or any Supplementary Material misleading or untrue;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc85088589eb34a2490d048add52b3203" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>would result in the Disclosure Documents or any Supplementary Material not complying with Applicable Securities Laws;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0da920990b8846939f0db95e2405c0c8" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(iii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>would reasonably be expected to have a significant adverse effect on the market price or value of the Purchased Securities or the Common Shares or which would restrict or prevent the trading of the Purchased Securities or the Common
              Shares; or</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze3e589897c5a4c80a3d41d13b16a4478" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(iv)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>would be material to a prospective purchaser of the Purchased Securities;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 18 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0eb08922e4a746beaa28cd8211134d85" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>in any such case described in Section 7.1(a) or Section 7.1(b), the Corporation shall promptly and, in any event within applicable time limitations set out in Applicable Securities Laws, comply with all legal requirements necessary to
              comply with Applicable Securities Laws in order to allow for the continued distribution of the Purchased Securities as contemplated hereunder; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zba51dc4e995c4457b8018177eb817dc1" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation shall in good faith discuss with the Underwriters any change in a fact or circumstances (actual, proposed or prospective) which is of such a nature that there is reasonable doubt whether notice needs to be given to the
              Underwriters pursuant to this Section 7.1.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 8</div>
    <div style="font-weight: bold;">REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE CORPORATION</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6606fe12fcb24250b2ecba72d877f58e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">8.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation hereby represents, warrants and covenants to each Underwriter, as of the date hereof, as of the Closing Date and as of the Option Closing Date, if applicable (each, a &#8220;<font style="font-weight: bold;">Representation Date</font>&#8221;),






              that:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc7608b4bb994404399e73d2ff9060aff" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation is eligible in accordance with the provisions of NI 44-101 to file a short form prospectus in each of the Canadian Qualifying Jurisdictions and the Ontario Securities Commission is the principal regulator for the
              Corporation under the Passport System for purposes of the filing of the Canadian Prospectuses;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4ece9cc810cf45768c5e981e5f06ae4b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation meets the general eligibility requirements for use of Form F&#8209;10 under the 1933 Act, has filed the Registration Statement in respect of the Firm Securities and has appointed an agent for service of process on Form F&#8209;X in
              connection with the filing of the Registration Statement. The Registration Statement has become effective under the 1933 Act and no stop order suspending the effectiveness of the Registration Statement has been issued under the 1933 Act and
              no proceedings, including Section 8A proceedings under the 1933 Act, for that purpose have been instituted or are pending or, to the knowledge of the Corporation, are contemplated or threatened by any of the Securities Commissions, and any
              request on the part of any of the Securities Commissions for additional information has been complied with;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze64178f8122f4006ae13927fcc81facb" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>(i) at the time of filing the Registration Statement and (ii) as of the execution of this Agreement (with such date being used as the determination date for purposes of this clause (ii)), the Corporation was not and is not an Ineligible
              Issuer (as defined in Rule 405 under the 1933 Act), without taking account of any determination by the SEC pursuant to Rule 405 under the 1933 Act that it is not necessary that the Corporation be considered an Ineligible Issuer;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaf7dd7f2476e4d078e7c0fae098cf187" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation has not distributed and will not distribute, prior to the later of the Closing Date and the completion of the Underwriters&#8217; distribution of the Firm Securities, any offering material in connection with the offering and sale
              of the Firm Securities other than the Registration Statement, the Prospectuses, the Offering Marketing Materials, any Issuer Free Writing Prospectus reviewed and consented to by the Lead Underwriters or any electronic road show or other
              written communications reviewed and consented to by the Lead Underwriters (each, a &#8220;<font style="font-weight: bold;">Corporation Additional Written Communication</font>&#8221;). Each such Corporation Additional Written Communication, when taken
              together with the Disclosure Documents, did not, and at the Closing Date and at the Option Closing Time will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements
              therein, in the light of the circumstances under which they were made, not misleading. The preceding sentence does not apply to statements in or omissions from the Corporation Additional Written Communication based upon and in conformity with
              written information furnished to the Corporation by any Underwriter through the Lead Underwriters specifically for use therein, it being understood and agreed that the only such information furnished by any Underwriter through the Lead
              Underwriters consists of the information described as such in the last paragraph of Section 1(a) of Schedule A attached hereto;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 19 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6bf7062b2ab74a7b80381371be1399d2" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>there are no persons with registration or other similar rights to have any equity or debt securities registered for sale under the Registration Statement or included in the Offering contemplated by this Agreement, except for such rights as
              have been duly waived;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z61f2c82cfdc5462db74cc7fd3689e13b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(f)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>this Agreement has been duly authorized, executed and delivered by the Corporation and constitutes a valid and binding agreement of the Corporation, enforceable against the Corporation in accordance with its terms, except as the
              enforcement thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z88d776e3a3fd4f179c46f4a6c934ceef" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(g)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the attributes and characteristics of the share capital (including the Common Shares) of the Corporation conform in all material respects to the attributes and characteristics thereof described in the Registration Statement, the
              Prospectuses and the Disclosure Documents;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc7fcf061675d4868be7c5bfdc0ade329" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(h)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Purchased Securities will be listed and posted for trading on the TSX and the NYSE at the Time of Closing and neither the Corporation nor any subsidiary thereof, if any, shall take any action prior to Closing which would be reasonably
              expected to result in the delisting or suspension of the Common Shares on or from the TSX or the NYSE or on or from any securities exchange, market or quoting facility on which the Common Shares are then listed or quoted and the Corporation
              is in material compliance and shall comply, in all material respects, with the rules and regulations of the TSX and NYSE;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb7894552f1934f9c8d268a9917e2835f" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Ernst &amp; Young LLP, who have delivered their report with respect to the audited consolidated financial statements for the fiscal years ended December 31, 2020 and 2019, included or incorporated by reference, or to be included or
              incorporated by reference in the Registration Statement, Prospectuses, the Disclosure Documents and any amendment to the Registration Statement or amendment to the Prospectuses, if any, are, with respect to the Corporation, independent
              chartered accountants within the meaning of Canadian Securities Laws and independent public accountants within the meaning of the 1933 Act and the 1934 Act. Ernst &amp; Young, S.L., in its capacity as auditor of the financial and accounting
              information related to Atlantica included or incorporated by reference in the Registration Statement, Prospectuses, the Disclosure Documents, and any amendment to the Registration Statement or amendment to the Prospectuses, if any, are
              independent registered public accountants with respect to Atlantica within the meaning of the 1933 Act and the 1934 Act;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0b9f39ecf6334b16bed8714500f2294c" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(j)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation has been advised of the rules and requirements under the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder (the &#8220;<font style="font-weight: bold;">Investment Company Act</font>&#8221;).






              The Corporation is not, and, after receipt of payment for the Firm Securities and the Option Securities, if any, and the application of the proceeds thereof as contemplated under the caption &#8220;Use of Proceeds&#8221; in the Prospectuses and the
              Disclosure Documents, will not be, required to register as an &#8220;investment company&#8221; within the meaning of the Investment Company Act;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 20 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfe9c7082d95c4389b788f3746d865597" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(k)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation has been duly organized and is validly existing as a corporation under the laws of Canada and has all requisite power and authority to own its properties and assets, and to carry on its undertaking, including issuing the
              Firm Securities, as contemplated hereby, and is qualified to own its properties and assets and to carry on its undertaking in all jurisdictions where it owns property and assets and carries on its activities and to enter into and perform its
              obligations under this Agreement. All necessary corporate action has been taken by the Corporation to authorize the delivery of the Prospectuses and the Disclosure Documents and the filing thereof, as the case may be, with the Canadian
              Securities Regulators or the SEC under Applicable Securities Laws;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5f8231540c1a4c7aaf695424b3f84016" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(l)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation is, and will at the Time of Closing and at the Option Closing Time be, a &#8220;reporting issuer&#8221; in each of the Canadian Qualifying Jurisdictions not in default of any requirement under Applicable Securities Laws. In particular,
              without limiting the foregoing, no material change relating to the Corporation has occurred with respect to which the requisite material change report has not been filed on a non&#8209;confidential basis with all relevant securities regulatory
              authorities (unless originally filed on a confidential basis and subsequently made non&#8209;confidential);</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9ad407c0e1c04b0ea66ea71876872109" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(m)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation is qualified in accordance with the provisions of NI 44&#8209;101 to file a short form prospectus in each of the Canadian Qualifying Jurisdictions and the Final Receipt shall be effective pursuant to NI 44&#8209;101;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc5db5c5118ad4a9b9843bfb3d9778acf" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(n)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as contemplated hereby and as otherwise disclosed in the Disclosure Documents and the Prospectuses, and for greater certainty, no person, firm or corporation, as of the date hereof, has any agreement or option with the Corporation,
              or any right or privilege (whether pre&#8209;emptive or contractual) capable of becoming an agreement or option with the Corporation, for the purchase, subscription or issuance of any Firm Securities;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za40e850e27024d7591023fee0f730f09" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(o)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation has not withheld, and will not withhold, from the Underwriters any facts relating to the Corporation or to the offering of the Purchased Securities that would be material to a prospective purchaser of the Firm Securities;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbbaaa8295fc943449064af96aa6e52eb" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(p)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>AST Trust Company (Canada), at its principal office located in the City of Toronto, has been duly appointed as registrar and transfer agent for the Common Shares in Canada and AST Trust Company has been duly appointed as transfer agent and
              registrar for the Common Shares in the United States;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5178e658aed541f7b7aefda0abb91e39" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(q)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as otherwise disclosed in the Disclosure Documents and the Prospectuses, the Corporation, and, to the knowledge of the Corporation, each of the Algonquin Entities: (A) has conducted and is conducting its business in compliance with
              all applicable laws, rules and regulations of each jurisdiction in which its business is carried on, except for noncompliance that would not individually or in the aggregate have a Material Adverse Effect; and (B) holds all necessary
              licenses, Permits, approvals, consents, certificates, registrations and authorizations (whether governmental, regulatory or otherwise) to enable its business to be carried on as now conducted and its property and assets to be owned, leased
              and operated (as now operated), and the same are validly existing and in good standing, and, except as disclosed in the Prospectuses and the Disclosure Documents, none of the same contains any term, provision, condition or limitation which
              has or may have a Material Adverse Effect;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
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      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 21 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd3997e4d804a419894bf8126dc82e124" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(r)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the authorized capital of the Corporation consists of an unlimited number of Common Shares and an unlimited number of preferred shares, issuable in one or more series;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z344e2f0a4d004b058f5d1d19c975674a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(s)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>no consent, approval, authorization or other order of, or registration or filing with, any court or other governmental or regulatory authority or agency is required for the Corporation&#8217;s execution, delivery or performance of this Agreement
              or consummation of the transactions contemplated hereby, by the Disclosure Documents or by the Prospectuses, except such as have been obtained or made by the Corporation and are in full force and effect under Applicable Securities Laws or
              blue sky laws and from the Financial Industry Regulatory Authority;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z40b33158d3f74a67a01656d4e2a8b480" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(t)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the execution and delivery of this Agreement by the Corporation, the fulfillment of the terms hereof by the Corporation, and the issuance, sale and delivery of the Firm Securities at the Time of Closing or Option Securities at the Option
              Closing Time, as applicable, do not and will not result in, and do not and will not create a state of facts which, after notice or lapse of time or both, will result in:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z645c30ee211748cd890a27c3b2bdd472" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>a breach or violation of, and do not and will not conflict with, any of the terms, conditions or provisions of the articles, by&#8209;laws or other constating documents of the Corporation or the Algonquin Entities, or resolutions of their
              respective shareholders or directors (or any committee thereof);</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zebea5cc2993747219803f40c5d638f10" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>a breach of or default under any indenture, agreement or instrument to which the Corporation or any of the Algonquin Entities is a party or by which the Corporation or any of the Algonquin Entities will be contractually bound at the Time
              of Closing or at the Option Closing Time, except for such breaches or defaults that would not individually or in the aggregate have a Material Adverse Effect; or</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2ba32674043c4729ab71c0b9504df043" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(iii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>any violation of any statute, law, rule, regulation or judgment, order or decree of any governmental body, agency or court having jurisdiction over the Corporation or any of the Algonquin Entities, except for such violations that would
              not, individually or in the aggregate, result in a Material Adverse Effect;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zca0856df605a4c34b5c8b71890c49cfa" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(u)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as otherwise disclosed in the Prospectuses and the Disclosure Documents, there is no action, proceeding or investigation (whether or not purportedly on behalf of the Corporation, respectively), to the knowledge of the Corporation,
              pending or threatened against or affecting the Corporation or any of the Algonquin Entities, at law or in equity or before or by any federal, provincial, state, municipal or other governmental department, commission, board or agency, domestic
              or foreign, which could in any way, individually or in the aggregate, have a Material Adverse Effect or which questions the validity of the issuance of the Firm Securities or of any action taken or to be taken by the Corporation pursuant to
              or in connection with this Agreement;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z08dbb4fbb08040b5b6ddfb78302481b0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(v)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>each of the Algonquin Entities (i) has been duly incorporated or otherwise formed and organized, (ii) is validly existing under the laws of its jurisdiction of incorporation, formation or organization, (iii) has all requisite capacity and
              authority to own, lease and operate its property and assets and to carry on its business, and (iv) is in good standing in each jurisdiction in which the conduct of its business or the ownership, leasing or operation of its property and assets
              requires such qualification;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 22 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcf47c2e766e547be92f39ba9f7fa1d13" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(w)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>all of the issued and outstanding Common Shares and other share capital of the Corporation have been duly authorized and validly issued and are fully paid and non&#8209;assessable. All of the issued and outstanding shares or equity interests of
              each of the Algonquin Entities have been duly authorized and validly issued, are fully paid and non&#8209;assessable and, except as otherwise disclosed in the Disclosure Documents and the Prospectuses, are owned by the Corporation, directly or
              through subsidiaries, free and clear of any security interest, mortgage, pledge, lien, encumbrance or claim, except for any such security interests, mortgages, pledges, liens, encumbrances or claims that do not, individually or in the
              aggregate, have a Material Adverse Effect;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za6f56e9cc9304f8a91b7c349fcafdd52" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(x)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Purchased Securities have been duly authorized and, when issued, delivered and paid for in accordance with the terms of this Agreement, will be validly issued, fully paid and non&#8209;assessable, and the issuance of the Purchased Securities
              will not be subject to any preemptive or similar rights;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z006a083196b44c2aa089d30f11d0e515" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(y)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the audited consolidated financial statements of the Corporation, including the auditors&#8217; report and notes in respect thereof, the unaudited interim consolidated financial statements and notes in respect thereof and the unaudited
              comparative consolidated financial statements and notes in respect thereof, if any, incorporated by reference into the Registration Statement, the Disclosure Documents and the Prospectuses are complete and correct in all material respects,
              comply as to form with the accounting requirements of Applicable Securities Laws, have been prepared in accordance with generally accepted accounting principles in the United States consistently applied and present fairly the consolidated
              financial position of the Corporation as at the date and for the periods stated therein. Any selected financial data of the Corporation set forth in the Registration Statement, the Prospectuses or the Disclosure Documents presents fairly, on
              the basis stated therein, the financial data as at and for the period referenced therein; there are no financial statements (historical or pro forma) that are required pursuant to Applicable Securities Laws to be included in the Registration
              Statement, the Disclosure Documents or the Prospectuses (including, without limitation, as required by Rule 3-05 or Article 11 of Regulation S-X under the 1933 Act) that are not included as required;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z947fe3bafaaa4dc9bf810a025ca1c368" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(z)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>(i) other than (A) as set forth in the Registration Statement, or the Prospectuses; (B) pursuant to indemnities granted in favor of the directors and officers of the Corporation and/or entities affiliated with the Corporation; (C) pursuant
              to guarantees and indemnities granted in favor of the Corporation and/or entities affiliated with the Corporation, which for greater certainty includes entities in which the Corporation holds, directly or indirectly, a 50% or greater
              interest; (D) pursuant to guarantees or indemnities granted in connection with acquisitions of assets or development, construction, financing or operation of projects or facilities by the Corporation or entities affiliated with the
              Corporation, which for greater certainty includes entities in which the Corporation holds, directly or indirectly, a 50% or greater interest, and debt or tax equity financings therefor, or (E) pursuant to guarantees or indemnities granted in
              connection with any existing senior credit facility; or, (ii) except as entered into in the normal course of business, including with respect to normal course hedging, supply and purchase contracts, none of the Corporation, the Algonquin
              Companies, the Algonquin Trusts and, to the knowledge of the Corporation, the Algonquin Partnerships: (x) is a party to or bound by any agreement of guarantee, indemnification, assumption, endorsement or similar commitment, in each case that
              is material to the Corporation and its subsidiaries taken as a whole, relating to the obligations, liabilities (contingent or otherwise) or indebtedness of any other person, firm or corporation; or (y) is subject to any such material
              agreement, commitment or indebtedness, nor is any of their respective assets or undertaking;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 23 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z003570b96991456691db34024df1608e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(aa)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>to the knowledge of the Corporation, each of the Algonquin Entities has made all registrations or filings required by applicable laws to create or maintain its status as a corporation, partnership or trust, whichever the case may be;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4aaa48b933a248e585fbaae920f0a69b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(bb)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as set forth in each of the Registration Statement, the Disclosure Documents and the Prospectuses, or except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, the Corporation
              and each of the Algonquin Entities, respectively: (i) are in compliance with Environmental Laws; (ii) have received and are in compliance with all permits, licenses or other approvals required of them under applicable Environmental Laws to
              conduct their respective businesses; (iii) have not received notice from any governmental agency or any written notice from any third party of any actual or potential liability under Environmental Laws for the investigation or remediation of
              any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants or regarding any actual or potential violation of Environmental Laws; and (iv) are not the subject of any claim, action or cause of action filed
              with a court or government authority or the subject of any investigation under Environmental Laws, including for potential liability for investigatory costs, clean&#8209;up costs, property damages, personal injuries, attorney&#8217;s fees or penalties
              arising out of, based on or resulting from the presence, or release into the environment, of any hazardous or toxic substance or waste at any location. Except as set forth in the Registration Statement, the Prospectuses and the Disclosure
              Documents, neither the Corporation nor any of its subsidiaries, has been named as a &#8220;potentially responsible party&#8221; under the United States Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, or under
              any similar Canadian legislation;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdd95df62ed334628a2c7096f46092cc8" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(cc)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as set forth in the Registration Statement, the Prospectuses and the Disclosure Documents, or except as would not, individually or in the aggregate, have a Material Adverse Effect, to the knowledge of the Corporation, each facility
              and project in which the Corporation has an economic interest as described in the Registration Statement, the Prospectuses or the Disclosure Documents (the &#8220;<font style="font-weight: bold;">Facilities</font>&#8221;) is in possession of all Permits
              required under existing law for the existing state of the construction and/or operation of the Facility and each such Permit has been obtained, is in full force and effect and does not require amendment. To the knowledge of the Corporation,
              except as disclosed in the Registration Statement, the Prospectuses and the Disclosure Documents, each of the parties identified in the Registration Statement, the Prospectuses or the Disclosure Documents, as the owner of each Facility is the
              absolute beneficial owner of, and has good and marketable title to, all of the material assets of such Facilities as set forth in each of the Registration Statement, the Prospectuses or the Disclosure Documents;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze29cf02145c64236865fd302b233776a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(dd)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as otherwise set forth in the Prospectuses and the Disclosure Documents, or except as would not, individually or in the aggregate, have a Material Adverse Effect, all of the Facilities (and all buildings and other appurtenances
              related thereto) are insured against all loss from damages by hazards or risks normally insured against in accordance with industry practice, with reasonable deductibles;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 24 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z373651d3380041febb0646afef427679" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ee)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>there has not been any reportable event (as defined in NI 51&#8209;102) with the auditors of the Corporation;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze7ed3158e01b4f20b8982022a947c964" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ff)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>other than as disclosed in the Prospectuses and the Disclosure Documents, since January 1, 2020, the Corporation has not completed and has not announced any intention to complete any &#8220;significant acquisition&#8221; (as determined pursuant to NI
              51&#8209;102);</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z584f68ea83a244a58606619a692b5665" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(gg)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>other than as disclosed in the financial statements referred to in Section 8.1(y), there are no material off&#8209;balance sheet transactions, arrangements, obligations (including contingent obligations) or other relationships of the Corporation
              or any of its subsidiaries with unconsolidated entities or other persons that may have a material current or future effect on the Corporation or its subsidiaries (taken as a whole) or on the liquidity, capital expenditures, capital resources,
              or significant components of revenues or expenses of the Corporation and its subsidiaries (taken as a whole);</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z36aa4bc7655c494e820d9d0a6f8218de" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(hh)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation is not in violation of its constating documents, and each of the Algonquin Entities is not in violation of its constating documents in any material respect; and neither the Corporation nor any of the Algonquin Entities is
              in default in the performance or observation of any obligation, agreement, covenant, or condition contained in any contract, indenture, mortgage, loan agreement, note or other instrument (a &#8220;<font style="font-weight: bold;">Material Contract</font>&#8221;)






              to which it is a party or by which it may be bound or to which any of its properties or assets is subject which default, individually or in the aggregate, has or would reasonably be expected to have a Material Adverse Effect;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze9927814013d430ca0c8685123602aa4" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation has no knowledge of any default, or any circumstance which with the giving of notice or lapse of time (or both) would give rise to a default, by any person who is a party to any Material Contract with the Corporation or any
              of the Algonquin Entities, except for such defaults which, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z64118f72f1db4209a0a041ddf1390f60" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(jj)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as has been disclosed in the Registration Statement, the Disclosure Documents and the Prospectuses, subsequent to December 31, 2020, (i) neither the Corporation nor any of its subsidiaries has sustained any loss or interference with
              its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, except for such loss or interference which, individually or in the
              aggregate, would not reasonably be expected to have a Material Adverse Effect, and (ii) there has not been any material adverse change, actual or, to the knowledge of the Corporation, threatened, in the capital, assets, liabilities (absolute,
              accrued, contingent or otherwise), earnings, business, operations or condition (financial or otherwise) or results of the operations of the Corporation and its subsidiaries (taken as a whole);</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3ee6f99ea50f40d0bf4b55ea8176adc2" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(kk)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>no lender to the Corporation or any of its subsidiaries has reduced, or has given notice to the Corporation or any of its subsidiaries, or has commenced negotiations with the Corporation or any of its subsidiaries regarding the reduction
              of any material credit facility, material hedge facility or any other material commitment with the Corporation or any of its subsidiaries and, to the knowledge of the Corporation, each of the Corporation&#8217;s lenders will be able to fulfill its
              obligations and other commitments to the Corporation or any of its subsidiaries;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 25 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze9184bb015a049bcacedf92de4c478bc" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ll)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation and each of its subsidiaries (taken as a whole) maintains a system of internal accounting controls sufficient to provide reasonable assurances that: (i) transactions are executed in accordance with management&#8217;s general or
              specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with United States generally accepted accounting principles and to maintain accountability for assets; (iii)
              access to its assets is permitted only in accordance with management&#8217;s general or specific authorization; (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken
              with respect to differences; and (v) material information relating to it is made known to those within the Corporation or such subsidiary responsible for the preparation of the financial statements during the period in which the financial
              statements have been prepared and that such material information is disclosed to the public within the time periods required by Applicable Securities Laws; except as disclosed in the Disclosure Documents and the Prospectuses, since the end of
              the Corporation&#8217;s most recent audited fiscal year, there has been (i) no material weakness in the Corporation&#8217;s internal control over financial reporting (whether or not remediated) and (ii) no change in the Corporation&#8217;s internal control
              over financial reporting that has materially affected, or is reasonably likely to materially affect, the Corporation&#8217;s internal control over financial reporting;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb2bfac43eb19400989ef8dc168829bde" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(mm)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation maintains &#8220;disclosure controls and procedures&#8221; (as such term is defined in Rule 13a&#8209;15(e) under the 1934 Act) that comply with the requirements of the 1934 Act; and such disclosure controls and procedures have been designed
              to ensure that material information relating to the Corporation and its subsidiaries is made known to the Corporation&#8217;s principal executive officer and principal financial officer by others within those entities to allow timely decisions
              regarding disclosure; and such disclosure controls and procedures are effective to perform the functions for which they were established to the extent required by Rule 13a&#8209;15 under the 1934 Act;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7687ae53432944b184d7df9ab39c60b2" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(nn)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>other than as disclosed in the Disclosure Documents and the Prospectuses: (i) the Corporation and each subsidiary has, on a timely basis, filed all necessary tax returns and notices and has paid or made provision for all applicable taxes
              of whatever nature for all tax years to the date hereof to the extent such taxes have become due or have been alleged to be due, except to the extent that the failure to do any of the foregoing would not reasonably be expected to have a
              Material Adverse Effect; and (ii) the Corporation is not aware of any tax deficiencies or interest or penalties accrued or accruing or alleged to be accrued or accruing, thereon with respect to itself or any subsidiary which have not
              otherwise been provided for by the Corporation, except to the extent that any such deficiency, interest or penalty would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcdbafee82e27460b910534863c7efe24" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(oo)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>none of the Corporation, any of its subsidiaries or, to the knowledge of the Corporation, any director, officer, agent, employee or affiliate of the Corporation or any of its subsidiaries is aware of or has taken any action, directly or
              indirectly, that would result in a violation by such persons of either (i) the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &#8220;<font style="font-weight: bold;">FCPA</font>&#8221;), including,
              without limitation, making use of the mail or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to
              give, or authorization of the giving of anything of value to any &#8220;foreign official&#8221; (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of
              the FCPA or (ii) the U.K. Bribery Act 2010 (the &#8220;<font style="font-weight: bold;">Bribery Act</font>&#8221;), and the Corporation, its subsidiaries and, to the knowledge of the Corporation, its affiliates have conducted their businesses in
              compliance with the FCPA and the Bribery Act;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 26 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdb1af29d6e4145429debdf7db98fa13d" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(pp)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>none of the Corporation, any of its subsidiaries or, to the knowledge of the Corporation, any director, officer, agent, employee or affiliate of the Corporation or any of its subsidiaries is currently the subject or the target of any
              sanctions administered or enforced by the U.S. Government, including, without limitation, the U.S. Department of the Treasury&#8217;s Office of Foreign Assets Control, the United Nations Security Council, the European Union, Her Majesty&#8217;s Treasury,
              or other relevant sanctions authority (collectively, &#8220;<font style="font-weight: bold;">Sanctions</font>&#8221;), nor is the Corporation located, organized or resident in a country or territory that is the subject of Sanctions; and the Corporation
              will not directly or indirectly use the proceeds of the offering of the Firm Securities hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity (i) to fund
              any activities of or business with any person or entity, or in any country or territory, that, at the time of such funding, is the subject of Sanctions or (ii) in any other manner that will result in a violation by any person or entity
              (including any person or entity participating in the transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdc8cde539e6e44359ff34221f5901f79" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(qq)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the operations of the Corporation and its subsidiaries are and have been conducted at all times in compliance in all material respects with the requirements of applicable anti&#8209;money laundering laws, including, applicable financial
              recordkeeping and reporting requirements of the U.S. Currency and Foreign Transactions Reporting Act of 1970, as amended by the USA Patriot Act of 2001, the <font style="font-style: italic;">Proceeds of Crime (Money Laundering) and Terrorist
                Financing Act</font> (Canada), Part II.1 of the <font style="font-style: italic;">Criminal Code</font> (Canada) and, in each case, the rules and regulations promulgated thereunder, and the anti&#8209;money laundering laws of the other
              jurisdictions where the Corporation and its subsidiaries conduct business (collectively, the &#8220;<font style="font-weight: bold;">Anti&#8209;Money Laundering Laws</font>&#8221;) and no action, suit or proceeding by or before any court or governmental
              agency, authority or body or any arbitrator involving the Corporation or any of its subsidiaries with respect to the Anti&#8209;Money Laundering Laws is pending or, to the knowledge of the Corporation, threatened;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdc10ddb2c8004800b5981227c38627dc" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(rr)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>(i) except as disclosed in the Disclosure Documents and the Prospectuses, (x) to the knowledge of the Corporation, there has been no security breach or other compromise of or relating to any of the Corporation&#8217;s or its subsidiaries&#8217;
              information technology and computer systems, networks, hardware, software, data (including the data of their respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of them), equipment or
              technology (collectively, &#8220;<font style="font-weight: bold;">IT Systems and Data</font>&#8221;) which would reasonably be expected to have a Material Adverse Effect, and (y) the Corporation and its subsidiaries have not been notified of, and have no
              knowledge of, any security breach or other compromise to their IT Systems and Data that would reasonably be expected to result in a Material Adverse Effect; and (ii) the Corporation and its subsidiaries are presently in compliance with all
              applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security of IT Systems
              and Data and to the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification, except as would not, in the case of this clause (ii), individually or in the aggregate, have a Material Adverse
              Effect;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8e4beb390fa5450bacbd81a25c66c122" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ss)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>no Canadian Securities Regulator or similar regulatory authority or the TSX or the NYSE or the SEC has issued any order which is currently outstanding preventing or suspending trading in any securities of the Corporation, and no such
              proceeding is, to the knowledge of the Corporation, pending, contemplated or threatened;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 27 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0b3036bc91b148598b64f6fa1711006e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(tt)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Common Shares are an &#8220;actively&#8209;traded security&#8221; exempted from the requirements of Rule 101 of Regulation M under the 1934 Act by subsection (c)(1) of such rule;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za1f5c7aeb04b477783567f091702f83e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(uu)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as mandated by an applicable governmental or regulatory authority, which mandates have not, individually or in the aggregate, had a Material Adverse Effect on the Corporation, as at the date hereof, and except as disclosed in the
              Prospectuses, there has been no suspension of the operations of the Corporation and its subsidiaries as a result of the novel coronavirus disease (COVID&#8209;19) outbreak (the &#8220;<font style="font-weight: bold;">COVID&#8209;19 Outbreak</font>&#8221;), which,
              individually or in the aggregate, has had a Material Adverse Effect;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z08128a85d5af47c6844800542a065571" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(vv)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Acquisition Agreement has been duly authorized, executed and delivered Liberty Utilities and constitutes a valid and binding agreement of Liberty Utilities, enforceable against Liberty Utilities in accordance with its terms, except as
              the enforcement thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z76b52c4d6fdd45cb8ac3ce62434429f8" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ww)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the representations and warranties of Liberty Utilities in the Acquisition Agreement are true and correct in all material respects (or in all respects if already qualified by materiality);</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6449860cff2949daad825882a6e319ce" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(xx)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>to the knowledge of Liberty Utilities, the representations and warranties of AEP and AEP Transco contained in the Acquisition Agreement are true and correct in all material respects (or in all respects if already qualified by materiality);</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcbc0118c5ac24942b625fb46f74d036e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(yy)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>neither the Corporation nor any of its subsidiaries has received notice of (i) any pending or threatened legal or governmental proceeding to which any party to the Acquisition Agreement is a party that could be expected to have a material
              adverse effect on the consummation of the Acquisition and to the knowledge of the Corporation no such proceeding is contemplated; (ii) any actual or alleged breach or default by any party of any provisions of the Acquisition Agreement and to
              the knowledge of the Corporation no event, condition, or occurrence exists which after notice or lapse of time (or both) would constitute a breach or default by any party to the Acquisition Agreement; or (iii) any disputes, termination,
              cancellation, amendment or renegotiation of the Acquisition Agreement, and to the knowledge of the Corporation no state of facts giving rise to any of the foregoing exists;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z686a1ea4499a449cb05f145e48c1a4c0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(zz)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation has furnished a true, correct and complete copy of the Acquisition Agreement (including all exhibits and schedules thereto) to the Underwriters; and the Acquisition Agreement has not been amended or terminated, nor have any
              terms or conditions thereof been waived in any material respect;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7bd3e7919932438886118088b97d8366" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(aaa)</td>
          <td style="width: auto; vertical-align: top;">
            <div>the Corporation is not aware of any facts or circumstances that would cause it to believe that (i) the Acquisition Agreement will be terminated, or (ii) the Acquisition will not be completed in accordance with the terms of the Acquisition
              Agreement and otherwise in accordance with the disclosure in the Prospectus;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 28 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9ccaa2f20398454c8e170dffd0187f55" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(bbb)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the proceeds of the Offering received by the Corporation in accordance with this Agreement will be used for the purposes described in the Prospectuses (subject to any qualifications contained in the Prospectuses); and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za24937ccb78b4146916d0dcde066d3c1" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ccc)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the statements and financial information in the Prospectuses under the headings &#8220;Accretive to Earnings and Maintains Investment Grade Credit Profile&#8221; and &#8220;Estimated 2021 Adjusted Net Earnings Per Share&#8221; (i) were made by the Corporation
              with a reasonable basis and in good faith and reflect the Corporation&#8217;s good faith best estimate of the matters described therein; and (ii) are based on assumptions that the Corporation believes to be reasonable; and none of the Corporation
              or its subsidiaries are aware of any business, financial or other developments (including with respect to Kentucky Power and Kentucky TransCo) inconsistent with such assumptions.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 9</div>
    <div style="font-weight: bold;">CONDITIONS OF CLOSING</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfb4ee7ca09314f69b8f9b4bde16d866b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">9.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The several obligations of the Underwriters to purchase and pay for the Firm Securities and the Option Securities, as the case may be, as provided herein on the Closing Date or on any Option Closing Date, as applicable, will be conditional
              upon and subject to the accuracy of the representations and warranties on the part of the Corporation set forth in Section 8.1 hereof as of each Representation Date, as though then made, and to each of the following conditions being fulfilled
              at or prior to the Time of Closing or the relevant Option Closing Time, as applicable, which conditions the Corporation covenants to exercise its reasonable best efforts to have fulfilled at or prior to the Time of Closing and any Option
              Closing Time, as applicable, and which conditions in paragraphs (c), (d), (f) and (g) may be waived in writing in whole or in part by the Underwriters:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2cba4e4714b44d37ad59756b5ed42808" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation will have made or obtained the necessary filings, approvals, consents and acceptances of the appropriate Canadian Securities Regulators, the TSX and the NYSE required to be made or obtained by the Corporation prior to the
              Time of Closing in order to complete the offering of the Purchased Securities as herein contemplated, it being understood that the Underwriters shall do all that is required, acting reasonably, to assist the Corporation to fulfill this
              condition;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za1656ecb6a15470abe389e98363acb68" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the directors of the Corporation shall have authorized and approved this Agreement, the issuance of the Purchased Securities, and all matters relating thereto, it being hereby represented by the Corporation that such authorization and
              approval will be obtained prior to the Time of Closing;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4dd303403e2e4d23939de5a3eb7681e1" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>it shall be the case that, and the Corporation will deliver to the Underwriters a certificate of the Corporation and signed on behalf of the Corporation by the Chief Executive Officer or an executive officer of the Corporation and the
              Chief Financial Officer of the Corporation (or such officers of the Corporation as may be acceptable to the Underwriters) addressed to the Underwriters and dated the Closing Date or the Option Closing Date, as applicable, in form satisfactory
              to their counsel, Bennett Jones LLP, certifying that:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze802d371f3ca4bd1aa90ab7c09d53168" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as otherwise publicly disclosed, the Prospectuses are true and correct in all material respects and contain no misrepresentation;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb254f99f4a2440448b3c6c269e3a38fb" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>except as otherwise publicly disclosed, no change in the assets, liabilities, financial position or business of the Corporation which would have a Material Adverse Effect has occurred and no transaction out of the ordinary course of
              business and of a nature material to the Corporation has been entered into or is pending since the date of the Prospectuses;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 29 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zde5fffe4e7fe422796f4ee20f507e949" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(iii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>no order, ruling or determination having the effect of ceasing or suspending trading in any securities of the Corporation or prohibiting the sale of the Purchased Securities or the trading of any of the Corporation&#8217;s issued securities has
              been issued and, to the best knowledge, information and belief of the persons signing such certificate, no proceedings for such purpose are pending, contemplated or threatened;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z25336641871d48e5b6ff28702026195e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(iv)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation is a &#8220;reporting issuer&#8221; in each of the Canadian Qualifying Jurisdictions not in default of any requirement under Canadian Securities Laws, is eligible in accordance with the provisions of NI 44&#8209;101 to file a short form
              prospectus with the Canadian Securities Regulators at the respective times of filing and there is no material change in the affairs of the Corporation which presently requires disclosure under the <font style="font-style: italic;">Securities
                Act</font> (Ontario), and other securities laws to which the Corporation is subject, which has not been so disclosed and no such disclosure has been made on a confidential basis;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6420bb6cfb234b5eb30f8a9fa491e70c" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(v)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>it has complied with all covenants, terms and conditions of this agreement on its part to be complied with or satisfied at or prior to the Time of Closing or Option Closing Time, as applicable;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2191df403746476caac1dfee2e663089" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(vi)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>each of its representations and warranties contained herein is true and correct as of the Time of Closing or Option Closing Time, as applicable; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zafb39109320741c39b3827f65be80a10" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(vii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>such other matters of a factual nature as the Underwriters and the Underwriters&#8217; counsel may request, acting reasonably.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4135956328f845a0b48cd57f5f533328" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation will have caused favorable legal opinions to be delivered by: (i) Blake, Cassels &amp; Graydon LLP, Canadian counsel to the Corporation, as to the laws of Ontario, Alberta, British Columbia and Qu&#233;bec and the laws of Canada
              applicable therein and by local counsel as to the matters relating to Canadian Qualifying Jurisdictions other than Ontario, Alberta, British Columbia and Qu&#233;bec and the laws of Canada applicable therein with respect to those matters
              identified in Schedule B attached hereto addressed to the Underwriters and Bennett Jones LLP, Canadian counsel to the Underwriters; and (ii) Gibson, Dunn &amp; Crutcher LLP, U.S. counsel to the Corporation, as to the laws of the United States
              and the State of New York applicable therein addressed to the Underwriters and Cravath, Swaine &amp; Moore LLP, U.S. counsel to the Underwriters, each dated the Closing Date or Option Closing Date, as applicable, and such other matters as the
              Underwriters may reasonably request, acceptable to the Underwriters&#8217; counsel, acting reasonably;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb04db8b1c33c4b35aec606d458502eab" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation will deliver or cause to be delivered to the Underwriters a letter dated the Closing Date or Option Closing Date, as applicable,&#160; in form and substance satisfactory to the Underwriters, acting reasonably, addressed to the
              Underwriters and the directors of the Corporation from: (i) Ernst &amp; Young LLP, as auditors to the Corporation and (ii) Ernst &amp; Young, S.L., as auditors of Atlantica, confirming the continued accuracy of the comfort letters to be
              delivered to the Underwriters pursuant to Section 4.1(f) with such changes as may be necessary to bring information in such letter forward to a date not more than two (2) Business Days prior to the Closing Date or Option Closing Date, as
              applicable, provided such changes are acceptable to the Underwriters, acting reasonably;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 30 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd6be1904500e403d864f3ef682e525e0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(f)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Purchased Securities shall have been conditionally approved for listing and posting for trading on the TSX and the NYSE subject to the satisfaction by the Corporation of the filing and other requirements of the TSX and the NYSE; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z63a82e37a6c64fcc9d836cb11cc06564" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(g)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation shall deliver to the Underwriters, on the Closing Date or Option Closing Date, as applicable, a certificate of the Chief Financial Officer of the Corporation, in form and substance reasonably satisfactory to the Lead
              Underwriters on behalf of the Underwriters, with respect to certain financial information included or incorporated by reference in the Prospectuses and the Disclosure Documents.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z366df9bf1cbd47798452c0a1163a5722" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">9.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation agrees that the legal opinions and certificates contemplated in paragraphs 9.1(c), (d) and (g) to be delivered at the Time of Closing or Option Closing Time, as applicable, will also be addressed to Underwriters.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za8a4bbcbfe3d4ebca9d1cdcd7322c5da" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">9.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>In addition to the foregoing, the Corporation shall provide such other documents, certificates and opinions in connection with the filing of the Prospectuses, as the Underwriters may reasonably require.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 10</div>
    <div style="font-weight: bold;">CLOSING</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z23ee2313947e4d81b1d7737e36daf791" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">10.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Closing will occur electronically, at the Time of Closing on the Closing Date, provided that if the Corporation has not been able to comply with any of the conditions to Closing set forth under &#8220;Conditions of Closing&#8221; by such time, the
              Time of Closing and Closing Date may be extended by mutual agreement of the Corporation and the Underwriters, failing which the respective obligations of the parties will terminate without further liability or obligation except as set out
              under Article 11 and Article 13.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3fe619a99a024b95aa84193834badc47" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">10.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>At the Time of Closing, the Corporation shall deliver to the Underwriters:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze6e78cd4ea23456dbf3a8f805f15258f" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>evidence of a non&#8209;certificated inventory deposit representing the Firm Securities, in the names and denominations requested by Lead Underwriters, on behalf of the Underwriters, acting reasonably; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z13024d7562de42f193528a5f891fe914" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>such further deliverables as may be contemplated herein or as the Underwriters or the applicable Canadian Securities Regulators or the TSX may reasonably require, against payment by the Underwriters of the purchase price for the Firm
              Securities as contemplated in Section 3.1 by wire transfer to the order of the Corporation in Canadian same day funds.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za322a1c34fb6459c96e3e4220faec722" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">10.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>In the event the Over&#8209;Allotment Option is exercised in accordance with its terms, the Corporation will, at or prior to the Option Closing Time, deliver to the Lead Underwriters (or any one of them as the Lead Underwriters may jointly
              direct), on behalf of the Underwriters:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2f3afbe2b9ea4d4baf7fd486002116c2" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>evidence of a non&#8209;certificated inventory deposit representing the Option Securities, in the names and denominations requested by Lead Underwriters, on behalf of the Underwriters, acting reasonably; and</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 31 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3523014e7543429c982f5d6c07f53833" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the items listed in Sections 9.1(c), 9.1(d), 9.1(e), and 9.1(g), in each case dated the Option Closing Date, together with such further documentation as the TSX may reasonably require, except that such conditions that apply shall be
              satisfied as at the Option Closing Time,</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">against payment by the Underwriters of the purchase price for the Option Securities as contemplated in Section 3.2 by wire transfer to the order of the Corporation in Canadian same day funds or by
      such other method as the Corporation and the Underwriters may agree upon.</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zeda32e75a2914d4a96daf5b173bf0a04" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">10.4</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>All terms and conditions of this offer set forth under &#8220;Conditions of Closing&#8221; shall be construed as conditions, and any breach or failure to comply with any such terms and conditions shall entitle the Underwriters to elect not to complete
              the purchase of the Purchased Securities by written notice to that effect given to the Corporation prior to the Time of Closing on the Closing Date. It is understood that the Underwriters may waive in whole or in part, or extend the time for
              compliance with, any of such terms and conditions without prejudice to their rights in respect of any such terms and conditions or any other subsequent breach or non&#8209;compliance, provided that to be binding on the Underwriters any such waiver
              or extension must be in writing.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 11</div>
    <div style="font-weight: bold;">INDEMNITY AND CONTRIBUTION</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Corporation will indemnify and hold harmless each of the Underwriters and their respective directors, officers, employees, affiliates and agents and each person, if any, who controls any Underwriter within the
      meaning of section 15 of the 1933 Act, as amended, or section 20 of the 1934 Act and the successors and assigns of the foregoing persons (collectively, the &#8220;<font style="font-weight: bold;">Indemnified Parties</font>&#8221; or, individually, an &#8220;<font style="font-weight: bold;">Indemnified Party</font>&#8221;) against all losses (excluding lost profit), claims, liabilities and expenses (including, without limitation, reasonable expenses of investigation and defending any claims or litigation as the
      same are incurred), upon the terms of the indemnity attached as Schedule A, whether or not the transaction herein contemplated shall be completed.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Moreover, the Corporation will indemnify and hold harmless the Underwriters against any documentary, stamp or similar issue tax, including any interest and penalties, on the creation, issue and sale of the Purchased
      Securities sold by it hereunder and on the execution and delivery of this Agreement. All payments to be made by the Corporation hereunder shall be made without withholding or deduction for or on account of any present or future taxes, duties or
      governmental charges whatsoever unless the Corporation is compelled by law to deduct or withhold such taxes, duties or charges. In that event, the Corporation shall pay such additional amounts as may be necessary in order that the net amounts
      received after such withholding or deduction shall equal the amounts that would have been received if no withholding or deduction had been made.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 12</div>
    <div style="font-weight: bold;">TERMINATION RIGHTS</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6e1848515a8b413dbea50f864595c8b2" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">12.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>In addition to any other remedies which may be available to the Underwriters, any Underwriter shall be entitled, at its option, to terminate and cancel, without any liability on such Underwriter&#8217;s part, its obligations under this Agreement
              by giving written notice to the Corporation at any time prior to the Time of Closing on the Closing Date if:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z77284c14bbba4a6fa4b80f763e3f1417" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>any order to cease or suspend trading in any securities of the Corporation or any of its subsidiaries, or prohibiting or restricting the distribution of the Purchased Securities, is made, or stop order preventing or suspending the use of
              any prospectus relating to the Purchased Securities has been issued, or proceedings are announced or commenced or, to the knowledge of the Corporation, threatened for the making of any such order, by any Canadian Securities Regulator, the
              SEC, or by any other competent authority, unless such order has been rescinded, revoked or withdrawn or such proceedings have been discontinued or will not be proceeded with;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 32 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc7f52d980a0f4c30a627972a80a7274b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>any inquiry, investigation (whether formal or informal) or other proceeding in relation to the Corporation or any of its subsidiaries is announced or commenced or any order is issued by any Canadian Securities Regulator, the SEC or by any
              other competent authority, or there is any change of law or the interpretation or administration thereof by any such authority, if, in the opinion of the Underwriters (or any one of them) acting reasonably, the announcement, commencement or
              issuance thereof, or change, as the case may be, adversely affects the trading or distribution of the Purchased Securities;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2b9fe11fc47f4cdd9157bcfa8a37bcfd" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the Corporation shall be in breach of, default under or non&#8209;compliance with any material representation, warranty, covenant, term or condition of this Agreement;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z369f5d99574748cea4f622314ead4bc0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>(i) there shall occur any material change (actual, contemplated or threatened) in the business, affairs, operations, assets, liabilities (contingent or otherwise), earnings, capital or ownership or condition (financial or otherwise) of the
              Corporation and its subsidiaries (taken as a whole) (other than a change related solely to the Underwriters); or, (ii) as a result of investigations after the date hereof, the Underwriters (or any one of them) determine that there exists any
              fact or circumstance which existed prior to the date hereof and had not been disclosed prior to the date hereof, which in their sole opinion, acting reasonably, would be expected to have a material adverse effect on the market price or value
              of the Purchased Securities; or</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4f053b6266544342a548ecdfa5ae263e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>there should develop, occur or come into effect or existence any event, action, state, condition or occurrence of national or international consequence or any incident, governmental action, law, regulation, policy, inquiry or other
              occurrence of any nature whatsoever which, in the reasonable opinion of the Underwriters or any of them, materially adversely affects or will materially adversely affect the North American financial markets or the marketability of the
              Purchased Securities.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">The Underwriters shall notify the Corporation immediately of their knowledge of the existence of any of the circumstances set forth in this Section 12.1 (any such notice, a &#8220;<font style="font-weight: bold;">Termination Condition Existence Notice</font>&#8221;). If the Underwriters wish to exercise their termination rights under this Section 12.1, the Underwriters shall notify the Corporation of such termination within 48 hours after providing the
      Termination Condition Existence Notice, failing which the Underwriters will be deemed to have waived its right to rely on the circumstances set forth in the Termination Condition Existence Notice to terminate this Agreement.</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z92f1eb7ddcd747c9ac429bfa677dbafb" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">12.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation shall make reasonable efforts to give notice to the Underwriters (in writing or by other means) of the occurrence of any of the events referred to in paragraph (a), (b), (c), (d) or (e) of Section 12.1, provided that
              neither the giving nor the failure to give such notice shall in any way affect the entitlement of the Underwriters to exercise this right at any time through to the Time of Closing.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z34e2a1e8938a4d15a9953a3345c84c98" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">12.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The rights of termination contained herein may be exercised by the Underwriters and are in addition to any other rights or remedies the Underwriters may have in respect of any default, act or failure to act or non&#8209;compliance by the
              Corporation in respect of any of the matters contemplated by this Agreement.</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 33 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z99c973a2668845af9a0b95a5315cd474" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">12.4</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Underwriters may waive, in whole or in part, or extend the time for compliance with any of such terms and conditions without prejudice to their rights in respect of any other of such terms and conditions or any other or subsequent
              breach or non&#8209;compliance provided that to be binding upon any Underwriter, any such waiver or extension must be in writing and signed by such Underwriter, and notified to the Corporation in the manner set forth in Article 16.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 13</div>
    <div style="font-weight: bold;">EXPENSES</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z754eec5ead794be182ee90a32902e903" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">13.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Whether or not the transaction herein contemplated shall be completed, all expenses of or incidental to the creation, issue, delivery and marketing of the Offering shall be borne by the Corporation, including, without limitation: printing
              costs, filing fees, costs of the Corporation&#8217;s legal and accounting advisors in connection with the preparation of the Prospectuses, cost of the certificates and fees of the transfer agent. Notwithstanding the foregoing, the fees and
              disbursements of legal counsel for the Underwriters and all out of pocket expenses of the Underwriters shall be borne by the Underwriters, except that the Underwriters will be reimbursed by the Corporation for all of these fees, disbursements
              and expenses, to the extent they are reasonable, if the sale of the Purchased Securities is not completed due to any failure of the Corporation to comply with the terms of this Agreement. The expenses referred to herein shall be payable by
              the Corporation from time to time immediately upon receiving an invoice therefor.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 14</div>
    <div style="font-weight: bold;">AUTHORITY OF LEAD UNDERWRITERS</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9164b91597f74579bd4afbf9c2939b5f" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">14.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Lead Underwriters are hereby authorized by each Underwriter to act on its behalf and the Corporation shall be entitled to and shall act on any notice given pursuant to this Agreement or any agreement entered into by or on behalf of the
              Underwriters by the Lead Underwriters, which represents and warrants that it has irrevocable authority to bind the Underwriters, except in respect of: (a) a notice of termination pursuant to Section 12.1, which notice may be given by any of
              the Underwriters; (b) any waiver pursuant to Section 12.4, which waiver must be signed by all of the Underwriters; or (c) any matter relating to the indemnity and contribution provisions set forth in Article 11 and Schedule A attached hereto.
              The Lead Underwriters shall consult with the other Underwriters concerning any matter in respect of which they act as representatives of the Underwriters.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 15</div>
    <div style="font-weight: bold;">SEVERAL OBLIGATIONS</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfd84565ca4264cce9673cdbb33b60f73" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">15.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Underwriters&#8217; entitlement to purchase the Purchased Securities at the Closing shall be several (and not joint or joint and several) and the Underwriters&#8217; respective obligations in this respect shall be in the following percentages of
              the Purchased Securities:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z9851bf542fc040b180c17819dd8bd4ef" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;">CIBC<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)(2)</sup></div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">22.25%</div>
          </td>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;">Scotia<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)(2</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">)</sup></div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">22.25%</div>
          </td>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify; font-weight: normal;">BMO Nesbitt Burns Inc.<br>
            </div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">10.00%</div>
          </td>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify; font-weight: normal;">National Bank Financial Inc.<br>
            </div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">10.00%</div>
          </td>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify; font-weight: normal;">RBC Dominion Securities Inc.<br>
            </div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">10.00%</div>
          </td>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify; font-weight: normal;">TD Securities Inc.<br>
            </div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">10.00%</div>
          </td>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 25%;"><br>
          </td>
          <td style="width: 40%; vertical-align: top; font-weight: normal;">Morgan Stanley Canada Limited <br>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: center;">&#160; 5.00%</td>
          <td colspan="1" style="width: 25%; vertical-align: top;"><br>
          </td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="vertical-align: top; width: 25%;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: top; font-weight: normal;">Desjardins Securities Inc.<br>
          </td>
          <td rowspan="1" style="width: 10%; vertical-align: top; text-align: center;">&#160; 2.33% <br>
          </td>
          <td rowspan="1" colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="vertical-align: top; width: 25%;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: top; font-weight: normal;">iA Private Wealth Inc. </td>
          <td rowspan="1" style="width: 10%; vertical-align: top; text-align: center;">&#160; 2.33% <br>
          </td>
          <td rowspan="1" colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="vertical-align: top; width: 25%;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: top; font-weight: normal;">Raymond James Ltd.<br>
          </td>
          <td rowspan="1" style="width: 10%; vertical-align: top; text-align: center;">&#160; 2.33%</td>
          <td rowspan="1" colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="vertical-align: top; width: 25%;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: top; font-weight: normal;">J.P. Morgan Securities Canada Inc.<br>
          </td>
          <td rowspan="1" style="width: 10%; vertical-align: top; text-align: center;">&#160; 1.00%</td>
          <td rowspan="1" colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="vertical-align: top; width: 25%;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: top; font-weight: normal;">Merrill Lynch Canada Inc.<br>
          </td>
          <td rowspan="1" style="width: 10%; vertical-align: top; text-align: center;">&#160; 1.00% <br>
          </td>
          <td rowspan="1" colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="vertical-align: top; width: 25%;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: top; font-weight: normal;">Wells Fargo Securities Canada, Ltd.<br>
          </td>
          <td rowspan="1" style="width: 10%; vertical-align: top; text-align: center;">&#160; 1.00%</td>
          <td rowspan="1" colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="vertical-align: top; width: 25%;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-weight: normal;">HSBC Securities (Canada) Inc.<br>
          </td>
          <td rowspan="1" style="width: 10%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">&#160; 0.50%</td>
          <td rowspan="1" colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;">TOTAL</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;">100.0%</div>
          </td>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: justify;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup> Lead Underwriters<br>
            </div>
          </td>
          <td style="width: 10%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 40%; vertical-align: top;">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup> Work Fee of 5% payable 70% to CIBC and 30% to Scotia<br>
            </div>
          </td>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td rowspan="1" colspan="1" style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 34 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z357545d503b84673ba5493f266eff0e1" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">15.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>If one or more of the Underwriters shall fail or refuse to purchase its applicable percentage of the Firm Securities at the Time of Closing, and the number of Firm Securities not purchased is less than or equal to 10% of the aggregate
              number of Firm Securities agreed to be purchased by the Underwriters pursuant to this Agreement, each of the other Underwriters shall be obligated severally (and not jointly or jointly and severally) to purchase the Firm Securities not taken
              up, on a pro rata basis or as they may otherwise agree as between themselves.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">If one or more of the Underwriters shall fail or refuse to purchase its applicable percentage of the Option Securities at the Option Closing Time, and the number of Option Securities not purchased is
      less than or equal to 10% of the aggregate number of Option Securities agreed to be purchased by the Underwriters pursuant to this Agreement, each of the other Underwriters shall be severally (and not jointly or jointly and severally) obligated to
      purchase the Purchased Securities not taken up, on a pro rata basis or as they may otherwise agree as between themselves.</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za88eaa427213421c9a93141e2a2639a6" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">15.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>If one or more of the Underwriters shall fail or refuse to purchase its applicable percentage of the Firm Securities at the Time of Closing, and the number of Firm Securities not purchased is greater than 10% of the aggregate number of
              Firm Securities agreed to be purchased by the Underwriters pursuant to this Agreement, those of the Underwriters who shall be willing and able to severally (and not jointly or jointly and severally) purchase their respective percentage of the
              Firm Securities shall have the right, but not the obligation, to purchase the Firm Securities not taken up, on a pro rata basis or as they may otherwise agree as between themselves. In the event that such right is not exercised, the
              Underwriter or Underwriters which are willing and able to purchase its or their respective percentage of the Firm Securities shall be relieved, without liability, of its or their obligations to purchase its or their respective percentage of
              the Firm Securities, on submission to the Corporation of reasonable evidence of its ability and willingness to fulfil its obligations under this Agreement at the Time of Closing.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">If one or more of the Underwriters shall fail or refuse to purchase its applicable percentage of the Option Securities at the Option Closing Time, and the number of Option Securities not purchased is
      greater than 10% of the aggregate number of Option Securities agreed to be purchased by the Underwriters pursuant to this Agreement, those of the Underwriters who shall be willing and able to severally (and not jointly or jointly and severally)
      purchase their respective percentage of the Option Securities shall have the right, but not the obligation, to purchase the Firm Securities not taken up, on a pro rata basis or as they may otherwise agree as between themselves. In the event that such
      right is not exercised, the Underwriter or Underwriters which are willing and able to purchase its or their respective percentage of the Option Securities shall be relieved, without liability, of its or their obligations to purchase its or their
      respective percentage of the Option Securities, on submission to the Corporation of reasonable evidence of its ability and willingness to fulfil its obligations under this Agreement at the Option Closing Time.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">Nothing in this Article 15 shall oblige the Corporation to sell to any or all of the Underwriters less than all of the aggregate amount of Purchased Securities or shall relieve any of the
      Underwriters in default hereunder from liability to the Corporation. After the Underwriters have made reasonable efforts to sell all the Purchased Securities at the offering price, the Underwriters may sell the Purchased Securities to the public at
      prices below the offering price.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 35 -</font></div>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 16</div>
    <div style="font-weight: bold;">NOTICE</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Any notice or other communication to be given hereunder shall be addressed and sent as follows:</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za089074811c84c26b82efd738be763ab" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>If to the Corporation, addressed and sent to:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Algonquin Power &amp; Utilities Corp.</div>
    <div style="text-align: justify; margin-left: 72pt;">354 Davis Road</div>
    <div style="text-align: justify; margin-left: 72pt;">Oakville, Ontario L6J 2X1</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Chief Legal Officer</div>
    <div style="text-align: justify; margin-left: 72pt;">Email: &#160; &#160; &#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; jennifer.tindale@APUCorp.com, with a copy to notices@apucorp.com</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z849a8af83c5343c68f4897727cb60897" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>with a copy to (which shall not constitute notice):</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Gibson, Dunn &amp; Crutcher LLP</div>
    <div style="text-align: justify; margin-left: 72pt;">200 Park Avenue</div>
    <div style="text-align: justify; margin-left: 72pt;">New York, New York</div>
    <div style="text-align: justify; margin-left: 72pt;">10166&#8209;0193</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Mr. John T. Gaffney</div>
    <div style="text-align: justify; margin-left: 72pt;">Email: &#160; &#160; &#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160; jgaffney@gibsondunn.com</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf8d348965ac34e2dbc9f421b81ab4e00" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>and with a copy (which shall not constitute notice) to:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Blake, Cassels &amp; Graydon LLP</div>
    <div style="text-align: justify; margin-left: 72pt;">199 Bay Street</div>
    <div style="text-align: justify; margin-left: 72pt;">Suite 4000</div>
    <div style="text-align: justify; margin-left: 72pt;">Commerce Court West</div>
    <div style="text-align: justify; margin-left: 72pt;">Toronto, Ontario M5L 1A9</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Mr. John Wilkin</div>
    <div style="text-align: justify; margin-left: 72pt;">Email:&#160;&#160; &#160; &#160; &#160;&#160; &#160;&#160;&#160;&#160;&#160; john.wilkin@blakes.com</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z42f88d67e485421688b4d35d5aa83bd1" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>If to the Underwriters to:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">CIBC World Markets Inc. Brookfield Place</div>
    <div style="text-align: justify; margin-left: 72pt;">161 Bay Street, 6th Floor</div>
    <div style="text-align: justify; margin-left: 72pt;">Toronto, Ontario M5J 2S8</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;James Brooks</div>
    <div style="text-align: justify; margin-left: 72pt;">Email:&#160; &#160; &#160; &#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160; james.brooks@cibc.com</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 36 -</font></div>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8313b8ae052e4c4a94ad4ce3e1a42804" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
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          <td style="width: 36pt; vertical-align: top; align: right;">(e)</td>
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            <div>and to:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Scotia Capital Inc.</div>
    <div style="text-align: justify; margin-left: 72pt;">40 King Street West, 62nd Floor</div>
    <div style="text-align: justify; margin-left: 72pt;">Toronto, Ontario M5W 2X6</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Thomas I. Kurfurst</div>
    <div style="text-align: justify; margin-left: 72pt;">Email:&#160; &#160; &#160; &#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160; thomas.kurfurst@scotiabank.com</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb77e86eeb33941dcbc1166520635f60b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(f)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>with a copy to (which shall not constitute notice):</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Bennett Jones LLP</div>
    <div style="text-align: justify; margin-left: 72pt;">Suite 3400</div>
    <div style="text-align: justify; margin-left: 72pt;">One First Canadian Place</div>
    <div style="text-align: justify; margin-left: 72pt;">Toronto, ON M5X 1A4</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Mr. Norman F. Findlay</div>
    <div style="text-align: justify; margin-left: 72pt;">Email:&#160;&#160; &#160; &#160; &#160; &#160;&#160;&#160;&#160;&#160; findlayn@bennettjones.com</div>
    <div><br>
    </div>
    <div style="text-align: justify;">or to such other email address as any of the parties may designate by notice given to the others. Any such notice or other communication shall be in writing, and unless delivered personally to a responsible officer of
      the addressee, shall be given by courier service or email, and shall be deemed to have been received, if given by email, on the date of sending if during normal business hours on a Business Day and if not on the next Business Day and, if given by
      courier service, on the next Business Day following the sending thereof.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 17</div>
    <div style="font-weight: bold;">SURVIVAL OF WARRANTIES, REPRESENTATIONS, COVENANTS AND AGREEMENTS</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd827ea682216447bba633fa08d8076d0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">17.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>All warranties, representations, covenants and agreements of the Corporation and the Underwriters contained herein or delivered pursuant hereto shall survive the purchase by the Underwriters of the Purchased Securities from the Corporation
              and shall continue in full force and effect for a period of three years notwithstanding any subsequent disposition by such Underwriters of the Purchased Securities and the Underwriters shall be entitled to rely on the representations and
              warranties of the Corporation contained herein or delivered pursuant hereto notwithstanding any investigations which the Underwriters may undertake.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 18</div>
    <div style="font-weight: bold;">ACCEPTANCE</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc698f7a2c65948b0bf285e138538ac45" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">18.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>If this Agreement accurately reflects the terms of the transaction which we are to enter into and if such terms are agreed to by the Corporation, please communicate acceptance by executing where indicated below and returning a signed copy
              of this Agreement to the Lead Underwriters.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfee1f06ac51c4400ad4da1dafc2982d5" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">18.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>All of the terms and conditions contained in this Agreement to be satisfied by the Corporation on the one hand and the Underwriters on the other hand, prior to the Time of Closing will be construed as conditions, and any breach or failure
              by a party to comply with any of such terms and conditions will entitle the other parties to terminate their obligations hereunder by written notice to that effect given prior to the Time of Closing. It is understood and agreed that any party
              may waive in whole or in part, or extend the time for compliance with, any of such terms and conditions without prejudice to such party&#8217;s rights in respect of any such terms and conditions or any other or subsequent breach or non&#8209;compliance;
              provided, however, that to be binding, any such waiver or extension must be in writing and signed by such party. If a party elects to terminate its obligations hereunder, the obligations of the other parties hereunder will be limited to the
              indemnity referred to in Article 10 hereof and the payment of expenses referred to in Article 13 hereof.</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 37 -</font></div>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 19</div>
    <div style="font-weight: bold;">NO ADVISORY OR FIDUCIARY RELATIONSHIP</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z521f21ebb2594489bef03eb2d1762ace" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">19.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation hereby acknowledges that (a) the purchase and sale of the Purchased Securities pursuant to this Agreement, including the determination of the Purchase Price and any related discounts and commissions, is an arm&#8217;s&#8209;length
              commercial transaction between the Corporation, on the one hand, and each of the Underwriters and any affiliate through which it may be acting, on the other; (b) in connection with each transactions contemplated hereby and the process leading
              to such transactions, each of the Underwriters is acting as principal and not as an agent or fiduciary of the Corporation; and (c) the Corporation&#8217;s engagement of each of the Underwriters in connection with the offering of the Purchased
              Securities and the process leading up to the offering of the Purchased Securities is as independent contractors and not in any other capacity. Furthermore, the Corporation agrees that it is solely responsible for making its own judgments in
              connection with the offering of the Purchased Securities (irrespective of whether any of the Underwriters has advised or is currently advising the Corporation on related or other matters). The Corporation agrees that it will not claim that
              the Underwriters have rendered advisory services of any nature or respect, or owes an agency, fiduciary or similar duty to the Corporation, in connection with such transaction or the process leading thereto.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z01396acf537e423dadaae25eeec8bdf7" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">19.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>National Bank Financial Inc. or an affiliate thereof may own or control an equity interest in TMX Group Limited (&#8220;<font style="font-weight: bold;">TMX Group</font>&#8221;) and may have a nominee director serving on the TMX Group&#8217;s board of
              directors. As such, such investment dealer may be considered to have an economic interest in the listing of securities on any exchange owned or operated by TMX Group, including the TSX, the TSX Venture Exchange and the Alpha Exchange. No
              person or company is required to obtain products or services from TMX Group or its affiliate as a condition of any such dealer supplying or continuing to supply a product or service.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">ARTICLE 20</div>
    <div style="font-weight: bold;">GENERAL</div>
    <div><br>
    </div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">20.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>If any Section, paragraph or provision of this Agreement is determined to be void or unenforceable in whole or in part, it shall be deemed not to affect or impair the validity of any other provision of this Agreement and such void or
              unenforceable provision shall be severable from this Agreement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4a4736766762405e83c6f5320d8668b6" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">20.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable herein and the parties hereby agree to submit to the jurisdiction of the Courts of Ontario
              in connection with any disputes arising hereunder.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1aca685f898b486690a94ebb30711671" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">20.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Time shall be of the essence of this Agreement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc8ef7866a30842b39e49182c3707b93a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">20.4</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>This Agreement constitutes the entire agreement between the parties hereto pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, including, for greater certainty, the letter agreement dated
              October 26, 2021 between the Corporation and the Lead Underwriters on behalf of the Underwriters, and all understandings and discussions, whether oral or written, of the parties in connection with the subject matter hereof and there are no
              warranties, representations or other agreements between the parties in connection with the subject matter hereof except specifically set forth herein.</div>
          </td>
        </tr>

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    <div><br>
    </div>
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          <td style="width: 36pt; vertical-align: top; align: right;">20.5</td>
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            <div>The Corporation acknowledges that the Underwriters&#8217; research analysts and research departments are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies,
              and that such Underwriters&#8217; research analysts may hold views and make statements or investment recommendations and/or publish research reports with respect to the Corporation, its subsidiaries and/or the offering of the Purchased Securities
              that differ from the views of their respective investment banking divisions. The Corporation hereby waives and releases, to the fullest extent permitted by law, any claims that the Corporation may have against the Underwriters with respect to
              any conflict of interest that may arise from the fact that the views expressed by their independent research analysts and research departments may be different from or inconsistent with the views or advice communicated to the Corporation by
              such Underwriters&#8217; investment banking divisions. The Corporation acknowledges that each of the Underwriters is a full service securities firm and as such from time to time, subject to Applicable Securities Laws, may effect transactions for
              its own account or the account of its customers and hold long or short positions in debt or equity securities of the companies that may be the subject of the transactions contemplated by this Agreement.</div>
          </td>
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    <div><br>
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          <td style="width: 36pt; vertical-align: top; align: right;">20.6</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>This Agreement may be executed in any number of counterparts, and may be delivered originally, by facsimile, or electronically, including by e&#8209;mail in portable document format (&#8220;<font style="font-weight: bold;">pdf</font>&#8221;) and each such
              original, facsimile copy, or electronic copy, when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same instrument. The execution of this Agreement will not become
              effective until counterparts hereof or thereof, as the case may be, have been executed by all the parties hereto or thereto, and executed copies delivered to each party who is a party hereto or thereto.</div>
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    <div style="font-style: italic;">[remainder of page intentionally left blank]</div>
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    <div style="text-align: justify;">Yours very truly,</div>
    <div style="text-align: justify;"> <br>
    </div>
    <div style="text-align: justify;">
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
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              <div style="text-align: justify; font-weight: bold;">CIBC WORLD MARKETS INC.</div>
            </td>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">By:</div>
            </td>
            <td colspan="2" style="width: 41.67%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-style: italic;">/s/ James Brooks</div>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">Name:&#160;</div>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
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              <div style="text-align: justify;">Title:&#160;</div>
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              <div style="text-align: justify;">Managing Director</div>
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      <div><br>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
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              <div style="text-align: justify; font-weight: bold;">SCOTIA CAPITAL INC.</div>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 41.67%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 41.67%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">By:</div>
            </td>
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              <div style="text-align: justify; font-style: italic;">/s/ Thomas Kurfurst</div>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">Name:&#160;</div>
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            <td style="width: 33.33%; vertical-align: top;">
              <div style="text-align: justify;">Thomas Kurfurst</div>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">Title:&#160;</div>
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            <td style="width: 33.33%; vertical-align: top;">
              <div style="text-align: justify;">Managing Director</div>
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      <div><br>
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      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zedbe7268b6214044a287afcc2a520032" cellpadding="0" cellspacing="0">

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            <td style="width: 50%; vertical-align: top;">&#160;</td>
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              <div style="text-align: justify; font-weight: bold;">BMO NESBITT BURNS INC.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 41.67%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 41.67%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">By:</div>
            </td>
            <td colspan="2" style="width: 41.67%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; font-style: italic;">/s/ Greg Petit</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">Name:&#160;</div>
            </td>
            <td style="width: 33.33%; vertical-align: top;">
              <div style="text-align: justify;">Greg Petit</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">Title:&#160;</div>
            </td>
            <td style="width: 33.33%; vertical-align: top;">
              <div style="text-align: justify;">Managing Director</div>
            </td>
          </tr>

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      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zabf45614426249fe8d130c01ad74dbc9" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td colspan="3" style="width: 50%; vertical-align: top;">
              <div style="text-align: justify; font-weight: bold;">NATIONAL BANK FINANCIAL INC.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 41.67%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
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            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 41.67%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 41.67%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
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              <div style="text-align: justify;">By:</div>
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              <div style="text-align: justify; font-style: italic;">/s/ Ehren Vokes</div>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">Name:&#160;</div>
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              <div style="text-align: justify;">Ehren Vokes</div>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">&#160;</td>
            <td style="width: 8.33%; vertical-align: top;">
              <div style="text-align: justify;">Title:&#160;</div>
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              <div style="text-align: justify;">Director</div>
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      </table>
      <div><br>
      </div>
      <div><br>
      </div>
    </div>
    [Signature page to the Underwriting Agreement]</div>
  <div>
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    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">The foregoing accurately reflects the terms of the transaction which we are to enter into and such terms are agreed to.</div>
    <div><br>
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    <div style="text-align: justify;"><font style="font-weight: bold;">DATED</font> as of the 27th day of October, 2021.</div>
    <div><br>
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        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="font-weight: bold;">ALGONQUIN POWER &amp; UTILITIES</div>
            <div style="font-weight: bold;">CORP.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div style="text-align: justify;">By:</div>
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          <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify;"><font style="font-style: italic;">/s/</font>&#160;<font style="font-style: italic;">Arun Banskota</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">
            <div style="text-align: justify;">Name: Arun Banskota</div>
            <div style="text-align: justify; text-indent: -36pt; margin-left: 36pt;">Title: President and Chief Executive Officer</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div style="text-align: justify;">By:</div>
          </td>
          <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: justify; font-style: italic;">/s/ Arthur Kacprzak</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">
            <div style="text-align: justify;">Name: Arthur Kacprzak</div>
            <div style="text-align: justify; text-indent: -36pt; margin-left: 36pt;">Title: Chief Financial Officer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center; font-style: italic;">[Signature page to the Underwriting Agreement]</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">SCHEDULE A</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>INDEMNIFICATION</u></div>
    <div><br>
    </div>
    <div style="text-align: justify;">Capitalized terms used but not defined in this Schedule A shall have the meanings assigned to them in the Agreement to which this Schedule is attached.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Indemnity</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdae47cda6c5a4325b945faa1c1a8a11d" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Indemnity</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Algonquin Power &amp; Utilities Corp. hereby agrees to indemnify and hold harmless CIBC World Markets Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion
      Securities Inc., TD Securities Inc., Morgan Stanley Canada Limited, Desjardins Securities Inc., iA Private Wealth Inc., Raymond James Ltd., J.P. Morgan Securities Canada Inc., Merrill Lynch Canada Inc., Wells Fargo Securities Canada, Ltd. and HSBC
      Securities (Canada) Inc.<font style="font-weight: bold;">&#160;</font>(collectively, the &#8220;<font style="font-weight: bold;">Underwriters</font>&#8221;) and each of their respective directors, officers, employees, affiliates and agents and each person, if any,
      who controls any Underwriter within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act and the successors and assigns of the foregoing persons (collectively, the &#8220;<font style="font-weight: bold;">Indemnified Parties</font>&#8221; or
      individually, the &#8220;<font style="font-weight: bold;">Indemnified Party</font>&#8221;) from and against all liabilities, claims, losses (other than loss of profits), reasonable costs, damages and reasonable expenses (including, without limitation any legal
      fees or other expenses reasonably incurred by the Underwriters in connection with defending or investigating any such action or claim, securityholder or derivative actions, arbitration proceedings or otherwise) (a &#8220;<font style="font-weight: bold;">Claim</font>&#8221;)


      in any way caused by, or arising directly or indirectly from, or in consequence of:</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9c39f650e4ab481bb512d3965db2ee8a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>any information or statement (except any statement relating solely to such Underwriter or Underwriters which has been provided in writing to the Corporation by or on behalf of such Underwriter or Underwriters through the Lead Underwriters
              specifically for inclusion therein) contained in the Agreement any Disclosure Document, any Supplementary Material, or in any certificate of the Corporation delivered pursuant to the Agreement which, at the time and, other than with respect
              to the Registration Statement, in the light of the circumstances under which it was made, contains or is alleged to contain a misrepresentation or untrue statement of a material fact;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z09a0e36a608247f4a7f2029f43e280f7" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>any omission or alleged omission to state in any Disclosure Document, any Supplementary Material, or in any certificate of the Corporation delivered pursuant to the Agreement, any material fact (except any fact relating solely to such
              Underwriter or Underwriters which has been provided in writing to the Corporation by or on behalf of such Underwriter or Underwriters through the Lead Underwriters specifically for inclusion therein) regarding the Corporation, Kentucky Power
              and Kentucky Transco, and their respective operations, subsidiaries and affairs that is necessary to make any statement therein not misleading in light of the circumstances in which it was made;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za1cdf3fa7b6b462e994814d3bdf6d25a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(iii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>any order made or enquiry, investigation or proceedings commenced or threatened by any securities commission or other competent authority based upon any untrue statement or omission or alleged untrue statement or alleged omission or any
              misrepresentation or alleged misrepresentation (except a statement or omission or alleged statement or omission regarding facts relating solely to any such Underwriter or Underwriters which has been provided in writing to the Corporation
              through the Lead Underwriters specifically for inclusion therein) in any Disclosure Document or any Supplementary Material or based upon any failure to comply with the Applicable Securities Laws (other than any failure or alleged failure to
              comply by any such Underwriter or Underwriters), preventing or restricting the trading in or the sale or distribution of the Purchased Securities;</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">A-2</font></div>
    </div>
    <!--PROfilePageNumberReset%Num%2%A-%%-->
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zeed77f983957486c9fb16a785913e5e6" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(iv)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the non&#8209;compliance or alleged noncompliance by the Corporation with any Applicable Securities Laws, including, in the case of the Corporation, the Corporation&#8217;s non&#8209;compliance with any statutory requirement to make any document available
              for inspection; or</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5fd6abd6fea04215af71cce06c151171" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(v)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>any breach by the Corporation of its material representations, warranties, covenants or obligations to be complied with under the Agreement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Except in respect of Claims arising under clause (i) or (ii) above, this indemnity shall cease to be available to an Indemnified Party if: (i) a court of competent jurisdiction in a final judgment in
      which such Indemnified Party is named as a party determines that the Claim in respect of which indemnification is sought is a result of or arises out of the gross negligence or willful misconduct of such Underwriter(s) (provided that, for greater
      certainty, the Corporation and the Underwriters agree that they do not intend that any failure by the Underwriters to conduct such reasonable investigation as necessary to provide any Underwriters or Underwriters with reasonable grounds for believing
      the Disclosure Document or any Supplemental Material contained no misrepresentation shall constitute &#8220;gross negligence&#8221; or &#8220;willful misconduct&#8221; for purposes of this Section 1 or otherwise disentitle the Underwriters from indemnification hereunder);
      or (ii) a copy of the Prospectuses (as then amended or supplemented, if the Corporation shall have furnished any amendments or supplements thereto) was not sent or given by or on behalf of the Underwriters to a person asserting any such losses,
      claims, damages or liabilities, but only (x) if required by law so to have been delivered by the Underwriters to such person, at or prior to the written confirmation of the sale of the Purchased Securities to such person, and (y) if the Prospectuses
      (as so amended or supplemented) delivered by the Underwriters a reasonable amount of time in advance of such confirmation would have cured the defect giving rise to such losses, claims, damages or liabilities and the Corporation provided the
      Prospectuses (as so amended or supplemented) to the Underwriters at a time that would have permitted them to deliver it a reasonable amount of time in advance of such confirmation. In such event, such Underwriter or Underwriters shall reimburse any
      funds advanced by the Corporation to such Underwriter or Underwriters pursuant to the indemnification contained in this Schedule A in respect of such Claim and thereafter this indemnity shall cease to apply to such Underwriter or Underwriters in
      respect of such Claim.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">The Corporation hereby acknowledges that the only information furnished to the Corporation by any Underwriter through the Lead Underwriters expressly for use in the Prospectuses or any Issuer Free
      Writing Prospectus are the statements set forth&#160;<font style="font-weight: bold;"></font>under the caption &#8220;Plan of Distribution&#8221; in the Canadian A&amp;R Preliminary Prospectus, the U.S. A&amp;R Preliminary Prospectus, the Canadian Final Prospectus
      and the U.S. Final Prospectus.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">A-3</font></div>
    </div>
    <div><br>
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        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Notification of Claims</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">If any Claim is asserted against any Indemnified Party, such Indemnified Party will notify the Corporation as soon as possible of the nature of such Claim (but the omission so to notify the
      Corporation of any potential Claim shall not relieve the Corporation from any liability which it may have to any Indemnified Party and any omission so to notify the Corporation of any actual Claim shall affect the Corporation&#8217;s liability only to the
      extent that it is prejudiced as a proximate result of that failure). Subject to subsection 1(d), the Corporation shall be entitled to participate in and, to the extent that it shall wish, to assume the defense of any suit brought to enforce such
      Claim; provided, however, that the defense shall be conducted through legal counsel acceptable to such Indemnified Party, that no settlement of any such Claim or admission of liability may be made by the Corporation or each Indemnified Party without
      the prior written consent of the other parties, acting reasonably. The Corporation shall not be liable for any settlement of any such Claim or proceeding effected without its prior written consent. The Corporation shall not settle any Claim, or
      compromise a consent to any judgment unless such settlement, compromise or judgment (i) includes an unconditional release of such Indemnified Party from all liability arising out of such action or claim and (ii) does not include a statement as to or
      an admission of fault, culpability or a failure to act, by or on behalf of each Indemnified Party.</div>
    <div><br>
    </div>
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        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Right of Indemnity in Favour of Others</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">With respect to any Indemnified Party who is not a party to the Agreement, the Indemnified Parties who are party to the Agreement shall obtain and hold the rights and benefits of this Section 1 of
      this Schedule A in trust for and on behalf of such Indemnified Party.</div>
    <div><br>
    </div>
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        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Retaining Counsel</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">In any Claim, in the event the Corporation exercises its right pursuant to clause (b) to assume the defense, the Indemnified Party shall have the right to retain other counsel to act on its behalf,
      provided that the reasonable fees and disbursements of such counsel shall be paid by such Indemnified Party unless (i) the Corporation fails to assume the defense of such suit with legal counsel acceptable to such Indemnified Party on behalf of such
      Indemnified Party within 10 days of receiving written notice of such suit; (ii) the Corporation and such Indemnified Party shall have mutually agreed to the retention of the other counsel; or (iii) the named parties to any such Claim (including any
      added third or impleaded party) include such Indemnified Party and the Corporation and such Indemnified Party shall have been advised by counsel that the representation of all parties by the same counsel would be inappropriate due to the actual or
      potential differing interests between them, including the potential availability of one or more legal defenses to such Indemnified Party which are different from or in addition to those available to the other parties or the potential for a conflict
      to exist between the Corporation and such Indemnified Party. In no event shall the Corporation be liable to pay the fees and disbursements of more than one firm of separate counsel for all Indemnified Parties and, in addition, one firm of local
      counsel in each applicable jurisdiction.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Contribution</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Contribution by the Corporation</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in Section 1 of this Schedule A is unavailable, in whole or in part, for any reason
      to an Indemnified Party in respect of any Claim, the Corporation (the &#8220;<font style="font-weight: bold;">Indemnifier</font>&#8221;) and the applicable Underwriter or Underwriters shall contribute to the amount paid or payable (or, if such indemnity is
      unavailable only in respect of a portion of the amount so paid or payable, such portion of the amount so paid or payable) by the Corporation as a result of such Claim in such proportion as is appropriate to reflect the relative benefits received by
      the Corporation on the one hand and the applicable Underwriter or Underwriters on the other hand from the offering of the Purchased Securities; or if this allocation is not permitted by applicable law, in such proportion as is appropriate to reflect
      not only the relative benefits referred to above but also the relative fault of the Corporation on the one hand and the applicable Underwriter or Underwriters on the other hand in connection with the information, statement, omission,
      misrepresentation, order, inquiry, investigation or other matter or thing referred to in Section 1 of this Schedule A which resulted in such Claim, as well as any other relevant equitable considerations.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">A-4</font></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">The relative benefits received by the Corporation on the one hand and the applicable Underwriter or Underwriters on the other hand shall be deemed to be in the same respective proportions as the
      total proceeds (net of the underwriting commission, but before deducting expenses (to the extent that such expenses are payable by the Corporation pursuant to Section 3 of this Schedule A)) received by the Corporation from the issue and sale of the
      Purchased Securities, and the total underwriting commission by the Underwriters, in each case, as set out in the table on the cover page of the Canadian Final Prospectus bear to the aggregate Purchase Price of the Purchased Securities on the cover
      page of the Canadian Final Prospectus. The relative fault of the Corporation on the one hand and of the Underwriters on the other shall be determined by reference to, among other things, whether the information, statement, omission,
      misrepresentation, order, inquiry, investigation or other matter or thing referred to in Section 1 of this Schedule A which resulted in such Claim relates to information supplied by or steps or actions taken or done by or on behalf of the Corporation
      or to information supplied by or steps or actions taken or done by or on behalf of the Underwriters and the relative intent, knowledge, access to information and opportunity to correct or prevent such statement, omission, misrepresentation, order,
      inquiry, investigation or other matter or thing referred to in Section 1 of this Schedule A. The amount paid or payable by an Indemnified Party as a result of the Claim referred to above shall include any legal or other expenses reasonably incurred
      by such Indemnified Party in connection with investigating or defending any such Claim, whether or not resulting in any such action, suit, proceeding or claim. The Corporation and the applicable Underwriter or Underwriters agree that it would not be
      just and equitable if contribution pursuant to this Section 2 were determined by any method of allocation which does not take into account the equitable considerations referred to immediately above.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">A person who is engaged in any fraud, fraudulent misrepresentation or gross negligence shall not, to the extent that a court of competent jurisdiction in a final judgment determines that the Claim
      was caused by that activity, be entitled to claim contribution therefor from any person who has not also been determined by a court of competent jurisdiction in a final judgment to have engaged in that fraud, fraudulent misrepresentation or gross
      negligence.</div>
    <div><br>
    </div>
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        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Right of Contribution in Addition to Other Rights</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">The rights to contribution provided in this Section 2 shall be in addition to and not in derogation of any other right to contribution which the applicable Underwriter or Underwriters may have by
      statute or otherwise at law.</div>
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    </div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Calculation of Contribution</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">In the event that a court of competent jurisdiction in a final judgment determines that an Indemnifier is entitled to contribution from an Underwriter or Underwriters under the provisions of any
      statute or at law, the Indemnifier shall be limited to contribution in an amount not exceeding the lesser of:</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z78a9e1a19c5d4ec6b11de694c4354d75" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the portion of the full amount of the loss or liability giving rise to such contribution for which the applicable Underwriter or Underwriters are responsible, as determined in subsection 2(a) of this Schedule A, and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za959be6ee9f74b378cc082740d2b7b7c" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the amount of the underwriting commissions actually received by the applicable Underwriter or Underwriters from the Corporation under the Agreement, provided that no Underwriter shall be required to contribute any amount in excess of the
              underwriting commissions received by such Underwriter or Underwriters in connection with the Purchased Securities underwritten by it.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notice of Claim for Contribution</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">Notification to the Corporation of a Claim pursuant to subsection 1(b) of this Schedule A shall be deemed to also constitute notice to the Corporation that a claim for contribution by the applicable
      Underwriter or Underwriters may arise and omission to so notify shall have similar effect.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Right of Contribution in Favour of Others</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt;">The Corporation hereby acknowledges and agrees that, with respect to Sections 1 and 2 of this Schedule A, each of the Underwriters are contracting on their own behalf and as agents for their
      affiliates, subsidiaries, directors, officers, employees, agents and control persons (collectively, the &#8220;<font style="font-weight: bold;">Beneficiaries</font>&#8221;). In this regard, the applicable Underwriter or Underwriters shall act as trustees for the
      Beneficiaries of the Corporation&#8217;s covenants under paragraphs 1 and 2 of this Schedule A with respect to the Beneficiaries and accept these trusts and shall hold and enforce the covenants on behalf of the Beneficiaries. The Underwriters&#8217; respective
      obligations to contribute pursuant to this Section 2 are several in proportion to the amounts set forth opposite their names in Section 15.1 of the Agreement and not joint.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Severability</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">If any provision of Section 1 or 2 of this Schedule A is determined to be void or unenforceable in whole or in part, it shall be deemed not to affect or impair the validity of any other provision of
      the Agreement and such void or unenforceable provision shall be severable from the Agreement.</div>
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    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">SCHEDULE B</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CANADIAN OPINION MATTERS</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze323f04d01a540a98eebaaa80510feda" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation is a corporation incorporated and existing under the <font style="font-style: italic;">Canada Business Corporations Act</font> and has all requisite corporate power and capacity to conduct its business as described in the
              Disclosure Documents.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z160468469a684d8399b704dc23513f76" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Liberty Utilities (Canada) Corp. is a corporation incorporated and existing under the <font style="font-style: italic;">Canada Business Corporations Act</font> and has all requisite corporate power and capacity to conduct its business.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z87c0ad307c6c4e5ba9c031b38a100620" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Liberty Utilities (Canada) GP Inc. is a corporation incorporated and existing under the <font style="font-style: italic;">Business Corporations Act</font> (Ontario) and has all requisite corporate power and capacity to conduct its
              business, including to act as the general partner of Liberty Utilities (Canada) LP (&#8220;<font style="font-weight: bold;">Liberty Canada LP</font>&#8221;), and to own, lease and operate its properties and assets.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zce86dd8dcc9445548efbac8917e025ea" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Liberty Canada LP has been duly formed as a limited partnership and is validly existing and governed under the laws of the Province of Ontario pursuant to a limited partnership agreement dated August 22, 2018 (the &#8220;<font style="font-weight: bold;">Limited Partnership Agreement</font>&#8221;) and has the full right, power and authority to carry on its business, and to own, lease and operate its property and assets in accordance with the Limited Partnership
              Agreement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7abc02d309f846a2a34fb6e2a14ea303" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Each of Algonquin Power Co., Algonquin Power Trust and Algonquin Power Operating Trust, respectively:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;is a trust, duly formed, organized and validly existing under its governing jurisdiction;</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z05e1405a840049c891de9baa1e7198e2" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>has made all registrations or filings required by applicable laws to create or maintain its status as a trust; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z97516ba708ec4478a71d697eb5609623" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>has the full power and capacity to carry on its business.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb256b94efe7244dd811c007804cdc037" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>All necessary corporate action has been taken by the Corporation to authorize (i) the execution and delivery of the Canadian Prospectuses and the filing of the Canadian Prospectuses, any Supplementary Material and the Offering Marketing
              Materials with the Canadian Securities Regulators, and (ii) the filing of the Initial Registration Statement, Amendment No. 1 to the Registration Statement, Amendment No. 2 to the Registration Statement and the Registration Statement with the
              SEC and the delivery of the Registration Statement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbe48f39a3b9147609bcdd4851cae7ec7" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Corporation has the corporate power to enter into and deliver this Agreement and to perform its obligations hereunder and to carry out the transactions contemplated hereby, and this Agreement has been duly authorized, executed and, to
              the extent delivery is a matter governed by applicable law in the Province of Ontario, delivered by the Corporation.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9146a46d1ef440a49fb1f7f866092a44" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">8.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The execution and delivery by the Corporation of, and the performance by the Corporation of its obligations under this Agreement and the issuance of the Purchased Securities in accordance with the provisions of this Agreement, do not and
              will not create a state of facts which, after notice or lapse of time or both, will result in a breach of or default under, and do not and will not conflict with and do not and will not contravene (i) any provisions of the articles, by laws
              or resolutions of the shareholders or directors (or any committee thereof) of the Corporation, (ii) applicable law in the Province of Ontario applicable to the offering of the Purchased Securities, or (iii) any of the agreements or
              instruments described in Exhibit I hereto.</div>
          </td>
        </tr>

    </table>
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    </div>
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    <div><br>
    </div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">9.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The authorized capital of the Corporation consists of an unlimited number of Common Shares and an unlimited number of preferred shares issuable in series.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zee5e4ed099d648faab9ade32aa3352ec" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">10.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The attributes and characteristics of the Purchased Securities conform in all material respects with descriptions thereof in the Disclosure Documents.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2ff3379afb12421eb387b3392c6af5fe" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">11.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Purchased Securities have been duly authorized and reserved for issuance and, upon payment of the Purchase Price therefor, will be validly issued and outstanding as fully paid and non&#8209;assessable Common Shares in the capital of the
              Corporation.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3ab4fc4bed90454fafb33b31d746538f" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">12.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>No consent, approval, authorization, filing with or order of any court or governmental agency or body is required in connection with the issuance and sale of the Purchased Securities, other than (i) as required under Canadian Securities
              Laws, and (ii) the approval of the TSX to the listing of the Purchased Securities;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5ff636ce889040edab037e42b916d9ee" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">13.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>the TSX has conditionally approved the listing and posting for trading of the Purchased Securities, subject to compliance with the conditions outlined in the conditional approval letter of the TSX;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zeb234732f0b344329b1a19591f41a534" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">14.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>AST Trust Company (Canada) has been duly appointed as transfer agent and registrar for the Common Shares;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcec1f80f36864d14810ffd4c05ca2ebb" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">15.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The Canadian Final Prospectus (other than the financial statements, financial schedules and other financial or statistical data included in the Canadian Final Prospectus, as to which we express no opinion) appears on its face, in respect
              of the Canadian Final Prospectus, at the time the Final Receipt was issued therefor and, in respect of the Canadian Final Prospectus, at the time it was filed, to have complied as to form in all material respects with the requirements of
              Canadian Securities Laws.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze1bba95767374e1498529cab98003481" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">16.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>All necessary documents have been filed, all requisite proceedings have been taken and all other legal requirements have been fulfilled by the Corporation as required under the laws of each of the Canadian Qualifying Jurisdictions to
              qualify the distribution of the Purchased Securities to the public in each of the Canadian Qualifying Jurisdictions through dealers duly registered under applicable legislation and who have complied with the relevant provisions of such
              applicable legislation;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z83da7e3bb73e44559c937e2c96902deb" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">17.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>As of the date hereof, the statements under the caption &#8220;Enforcement of Certain Civil Liabilities&#8221; in the Disclosure Documents, insofar as such statements constitute summaries of legal matters, legal proceedings, laws or regulations (or
              the interpretation or administration of laws or regulations by any relevant government authorities), are accurate in all material respects.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaf5b0af0267d45f3b0fb06c0992803e0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">18.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>As of the date hereof, the statements under the caption &#8220;Certain Canadian Federal Income Tax Considerations&#8221; in the Disclosure Documents are an accurate summary of the principal Canadian federal income tax considerations generally
              applicable to a holder who acquires Purchased Securities as beneficial owner pursuant to the offering of the Purchased Securities, subject to the assumptions, limitations, conditions, qualifications and restrictions set out therein.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8739af74d4e74c788688a4b53f7cf775" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">19.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Provided that, as of the date hereof, the Corporation is a &#8220;public corporation&#8221; for purposes of the Tax Act or the Purchased Securities are listed on a &#8220;designated stock exchange&#8221; for purposes of the Tax Act (which currently includes the
              TSX and the NYSE), the Purchased Securities, if issued on such date, would be on such date qualified investments under the Tax Act for a trust governed by a registered retirement savings plan, registered retirement income fund, registered
              disability savings plan, tax&#8209;free savings account, registered education savings plan or deferred profit sharing plan.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">In connection with such opinions, counsel to the Corporation may rely on or arrange delivery of the opinions of local counsel acceptable to counsel to the Underwriters, Bennett Jones LLP, acting reasonably, as to the
      qualification for distribution of the Purchased Securities and as to other matters governed by the laws of Canadian Qualifying Jurisdictions other than the Province of Ontario in which they are qualified to practice and may rely, to the extent
      appropriate in the circumstances, as to matters of fact on certificates of officers of the Corporation and others.</div>
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    </div>
    <div style="font-weight: bold; text-align: center;">EXHIBIT I</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2024f18e1eae44b287485addd7312c58" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Trust indenture between Algonquin Power Co. and BNY Trust Company of Canada dated July 25, 2011 providing for the issuance of senior unsecured debentures, as supplemented from time to time, including by the Sixth Supplemental Trust
              Indenture dated April 9, 2021 providing for the issuance of $400,000,000 2.85% senior unsecured debentures due July 15, 2031.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc1f54904122a45afa842c320cd8bd214" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Trust indenture dated as of March 1, 2016, between Algonquin Power &amp; Utilities Corp. and CST Trust Company, as trustee, providing for the creation and issuance of up to $1,150,000,000 principal amount of debentures in connection with
              the $1.15 billion aggregate principal amount of 5.00% convertible unsecured subordinated debenture offering, as supplemented by a supplemental trust indenture dated January 31, 2017.</div>
          </td>
        </tr>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>ny20001090x7_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Finanicial Soultions, Inc.
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         Copyright 1995 - 2021 Broadridge -->
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<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <div>
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    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 5.1</font><br>
    </div>
    <div style="text-align: right;"><font style="font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: right;">
      <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">Consent of Independent Registered Public Accounting Firm</div>
      <div><br>
      </div>
      <div style="text-align: left; font-family: 'Times New Roman',Times,serif;">We consent to the reference to our firm under the caption &#8220;Auditors, Transfer Agent and Registrar&#8221; and to the incorporation by reference of our
        report dated March 4, 2021 with respect to the consolidated financial statements of Algonquin Power &amp; Utilities Corp. (the &#8220;Company&#8221;) as at and for the years ended December 31, 2020 and December 31, 2019, and our report dated March 4, 2021 with
        respect to the effectiveness of internal control over financial reporting as at December 31, 2020 included in Exhibit 99.2 on Form 40-F filed on March 4, 2021 in the Registration Statement on Form F-10 (No. 333-260501) and related Prospectus of the
        Company for the registration of 44,080,000 common shares of the Company.</div>
      <div><br>
      </div>
      <div style="text-align: left; font-family: 'Times New Roman',Times,serif;">/s/ Ernst &amp; Young LLP</div>
      <div style="text-align: left; font-family: 'Times New Roman',Times,serif;">Chartered Professional Accountants</div>
      <div style="text-align: left; font-family: 'Times New Roman',Times,serif;">Licensed Public Accountants</div>
      <div><br>
      </div>
      <div style="text-align: left; font-family: 'Times New Roman',Times,serif;">Toronto, Canada</div>
      <div style="text-align: left; font-family: 'Times New Roman',Times,serif;">October 27, 2021</div>
      <div style="text-align: left; font-size: 12pt;"> <br>
      </div>
      <div>
        <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      <font style="font-weight: bold;"> </font></div>
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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>logo_algonquinv2.jpg
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
