<SEC-DOCUMENT>0001174169-23-000048.txt : 20230815
<SEC-HEADER>0001174169-23-000048.hdr.sgml : 20230815
<ACCEPTANCE-DATETIME>20230814210054
ACCESSION NUMBER:		0001174169-23-000048
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20230814
FILED AS OF DATE:		20230815
DATE AS OF CHANGE:		20230814

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:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37946
		FILM NUMBER:		231172991

	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>6-K
<SEQUENCE>1
<FILENAME>a6-kcoverxmaterialchangere.htm
<DESCRIPTION>6-K COVER MATERIAL CHANGE REPORT - FORM 51-102F3
<TEXT>
<html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2023 Workiva -->
<title>Document</title></head><body><div id="ia569437bb87846c39962969cd3cce590_33"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:16pt;font-weight:700;line-height:179%">UNITED STATES </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:16pt;font-weight:700;line-height:179%">SECURITIES AND EXCHANGE COMMISSION</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:179%"> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:179%">Washington, D.C. 20549</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:209%">_______________________</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:16pt;font-weight:700;line-height:209%">FORM 6-K </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:209%">_______________________</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:209%">REPORT&#160;OF FOREIGN PRIVATE ISSUER</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:209%"> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:209%">Pursuant to Rule 13a-16 or 15d-16 of the </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:209%">Securities Exchange Act of 1934</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:209%">Date&#58; August 14, 2023</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:209%">Commission File Number&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:209%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:209%">001-37946 </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:144%">_______________________</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:93.750%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 2.12pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:22pt;font-weight:700;line-height:100%">Algonquin Power &#38; Utilities Corp.</font></td></tr></table></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:209%">(Translation of registrant&#8217;s name into English)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:209%">_______________________</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:209%">354 Davis Road </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:209%">Oakville, Ontario, L6J 2X1, Canada</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:209%"> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:209%">(Address of principal executive offices)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:209%">_______________________</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</font></div><div style="text-indent:36pt"><font><br></font></div><div style="text-indent:108pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:209%">Form 20-F </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:209%">&#9633;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:209%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:209%">Form 40-F </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:12pt;font-weight:400;line-height:209%">x</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:120%">&#9633;</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:120%">&#9633;</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:209%">EXHIBIT INDEX</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:144%">The following exhibits are filed as part of this Form 6-K&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:10.438%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:87.362%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Exhibit</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Description</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">99.1</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Material Change Report - Form 51-102F3</font></td></tr></table></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:209%">SIGNATURE</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:209%"> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:209%">&#160;&#160;</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:91.346%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 3.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">ALGONQUIN POWER &#38; UTILITIES CORP.</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 3.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(registrant)</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Date&#58; August 14, 2023</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:2pt;padding-right:2.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">By&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">&#160;&#47;s&#47; Darren Myers</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 3.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Name&#58; Darren Myers</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 3.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Title&#58;&#160;&#160; Chief Financial Officer</font></td></tr></table></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>aqn-mcrreceochangeandstrat.htm
<DESCRIPTION>EX-99.1 MATERIAL CHANGE REPORT - FORM 51-102F3
<TEXT>
<html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2023 Workiva -->
<title>Document</title></head><body><div id="i78f3ffeb291d481cb99798f16ca5d9ba_1"></div><div style="min-height:90pt;width:100%"><div><font><br></font></div></div><div style="margin-top:0.55pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:114%">FORM 51-102F3</font></div><div style="margin-top:12.25pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:114%">MATERIAL CHANGE REPORT</font></div><div style="margin-top:24.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:114%">Item 1.&#160;&#160;&#160;&#160;Name and Address of Company</font></div><div style="margin-top:12pt;padding-left:50.4pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Algonquin Power &#38; Utilities Corp. (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:112%">AQN</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;)</font></div><div style="padding-left:50.4pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">354 Davis Road</font></div><div style="margin-top:0.25pt;padding-left:50.4pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">Oakville, Ontario</font></div><div style="margin-top:0.25pt;padding-left:50.4pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">L6J 2X1</font></div><div style="margin-top:12pt;padding-left:50.4pt;text-indent:-50.4pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:231%">Item 2.&#160;&#160;&#160;&#160;Date of Material Change <br></font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:231%">August 10, 2023</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:114%">Item 3.&#160;&#160;&#160;&#160;News Release</font></div><div style="margin-top:12pt;padding-left:50.4pt;padding-right:10.8pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">The news releases referenced herein were disseminated through the facilities of CNW Group (Cision) on August 10, 2023. A copy of the news releases (collectively, the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:112%">News Releases</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;) </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">have also been filed under </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">AQN&#8217;s </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">profile on SEDAR+ at www.sedarplus.ca and are attached hereto as Schedules </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8220;A&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">and </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8220;B&#8221;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">.</font></div><div style="margin-top:24.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:114%">Item 4.&#160;&#160;&#160;&#160;Summary of Material Change</font></div><div style="margin-top:12pt;padding-left:50.4pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:113%">On August 10, 2023, AQN provided an update on </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:113%">AQN&#8217;s </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:113%">previously announced</font></div><div style="padding-left:50.4pt;padding-right:10.8pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:130%">strategic review of its renewables business and announced that AQN will pursue a sale of its Renewable Energy Group.</font></div><div style="margin-top:10.4pt;padding-left:50.4pt;padding-right:10.8pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:129%">Additionally, on August 10, 2023, AQN announced that Christopher Huskilson, a member of </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:129%">AQN&#8217;s b</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:129%">oard of directors </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:129%">(the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:129%">Board</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:129%">&#8221;) </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:129%">since 2020, has been</font></div><div style="padding-left:50.4pt;padding-right:10.8pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:130%">appointed Interim Chief Executive Officer, effective August 10, 2023. Mr. Huskilson succeeds Arun Banskota, who stepped down as President and Chief</font></div><div style="margin-top:0.1pt;padding-left:50.4pt;padding-right:10.8pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:132%">Executive Officer and as a member of the Board effective August 10, 2023. The Board has engaged a nationally recognized search firm to commence a search process to identify a permanent Chief Executive Officer.</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:114%">Item 5.&#160;&#160;&#160;&#160;Full Description of Material Change</font></div><div style="margin-top:12.25pt;padding-left:50.4pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">For further details of the material change, please see the News Releases.</font></div><div style="margin-top:12pt;padding-left:50.4pt;padding-right:82.8pt;text-indent:-50.4pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:229%">Item 6.&#160;&#160;&#160;&#160;Reliance on subsection 7.1(2) of National Instrument 51-102 </font></div><div style="padding-right:82.8pt;text-indent:49.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Not applicable.</font></div><div style="height:112.32pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_4"></div><hr style="page-break-after:always"><div style="min-height:90pt;width:100%"><div><font><br></font></div></div><div style="margin-top:12pt;padding-left:54pt;text-indent:-50.4pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:174%">Item 7.&#160;&#160;&#160;&#160;Omitted Information <br></font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:174%">Not applicable.</font></div><div style="margin-top:12.3pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:112%">Item 8.&#160;&#160;&#160;&#160;Executive Officer</font></div><div style="margin-top:12.1pt;padding-left:54pt;padding-right:3.6pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:114%">For further information please contact Christopher Huskilson, Interim Chief Executive Officer of AQN, at (905) 465-4500.</font></div><div style="margin-top:12.55pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:700;line-height:112%">Item 9.&#160;&#160;&#160;&#160;Date of Report</font></div><div style="margin-top:12.2pt;padding-left:54pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:111%">August 14, 2023</font></div><div style="height:536.4pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_7"></div><hr style="page-break-after:always"><div style="min-height:90pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:175%">Schedule &#8220;A&#8221; </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">(see attached)</font></div><div style="height:645.12pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_10"></div><hr style="page-break-after:always"><div style="min-height:41.76pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:12.55pt;margin-top:0.25pt;padding-right:370.55pt"><img alt="image_4a.jpg" src="image_4a.jpg" style="height:58px;margin-bottom:5pt;vertical-align:text-bottom;width:201px"></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:138%">Algonquin Power &#38; Utilities Corp. Will Pursue Sale of Renewable Energy Group Following Strategic <br>Review&#59; Announces 2023 Second Quarter Financial Results</font></div><div style="margin-top:11.65pt;padding-right:7.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:145%">OAKVILLE, Ontario </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12.5pt;font-style:italic;font-weight:700;line-height:145%">&#8211; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:145%">August 10, 2023 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12.5pt;font-style:italic;font-weight:700;line-height:145%">&#8211; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:145%">Algonquin Power &#38; Utilities Corp. (TSX&#47;NYSE&#58; AQN) (&#8220;AQN&#8221; or the &#8220;Company&#8221;) today announced that it will pursue a sale of the Renewable Energy Group.</font></div><div style="margin-top:7.05pt;padding-right:7.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">&#8220;Over the past few months, the AQN Board of Directors, in conjunction with our independent financial advisor, has conducted a thorough review of our businesses with the aim of enhancing value for our shareholders,&#8221; said Chris Huskilson, Interim Chief Executive Officer of AQN. &#8220;We have two strong businesses &#8211; a well-positioned regulated utility business with diversified assets and attractive jurisdictions, and a solid, competitive renewables business with scale and strong assets. That said, we believe the value of our assets is not fully realized in our current structure. We therefore determined that focusing on our regulated business going forward and pursuing a sale of the renewables business is the best path forward for AQN.&#8221;</font></div><div style="margin-top:6.1pt;padding-right:7.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">Huskilson continued, &#8220;We are confident that the intended sale will unlock AQN&#8217;s value as a pure-play regulated utility by simplifying our structure and enabling us to focus on lower risk regulated investment opportunities, with greater operational efficiency and capital discipline. We expect to use the proceeds of a renewables transaction to reduce our debt and fund share repurchases. In addition, our objectives for the transaction are to support our current dividend, reduce our cost of capital, and maintain our investment grade BBB credit rating. At the same time, we will seek to maximize the value of the renewables business and position it with a new owner that can facilitate its long-term success through the ongoing energy transition.&#8221;</font></div><div style="margin-top:5pt;padding-right:7.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">As announced on May 11, 2023, the Company&#8217;s Board of Directors initiated a strategic review of the Renewable Energy Group with the aim of enhancing shareholder value. The strategic review was conducted by the Strategic Review Committee of the Board, comprised of directors Chris Huskilson (Chair), Amee Chande and Dan Goldberg.</font></div><div style="margin-top:7.05pt;padding-right:7.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">JP Morgan will act as the Company&#8217;s financial advisor in connection with the sale of the Renewable Energy Group. The Company expects to exit the sale process as a competitively capitalized, pure-play regulated utility with a stable and healthy growth outlook.</font></div><div style="margin-top:13.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:103%">Second Quarter Financial Highlights</font></div><div style="margin-top:5.85pt;padding-right:7.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">The Company also announced today financial results for the second quarter ended June 30, 2023. All amounts are shown in United States dollars (&#8220;U.S. $&#8221; or &#8220;$&#8221;), unless otherwise noted.</font></div><div style="margin-top:6.1pt;padding-right:7.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">&#8220;While our second quarter 2023 results were negatively impacted by unfavourable weather, we remain focused on our growth outlook and long-term success,&#8221; said Mr. Huskilson.</font></div><div style="margin-top:11.4pt;padding-left:39.6pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">&#183;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:107%;padding-left:14.34pt">Revenue of $627.9 million, an increase of 1%&#59;</font></div><div style="margin-top:8.05pt;padding-left:39.6pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:109%">&#183;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%;padding-left:14.34pt">Adjusted EBITDA</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:109%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:109%"> of $277.7 million, a decrease of 4%&#59;</font></div><div style="margin-top:8.15pt;padding-left:39.6pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:110%">&#183;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:110%;padding-left:14.34pt">Adjusted Net Earnings</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:110%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:110%"> of $56.2 million, a decrease of 49%&#59; and</font></div><div style="margin-top:2.6pt;padding-left:39.6pt;padding-right:7.2pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:155%">&#183;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%;padding-left:14.34pt">Adjusted Net Earnings</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:155%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%"> per common share of $0.08, a decrease of 50%, in each case on a year-over-year basis.</font></div><div style="height:38.16pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_13"></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="padding-left:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:91.379%"><tr><td style="width:1.0%"></td><td style="width:42.296%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.176%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.176%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.176%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.491%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.491%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.494%"></td><td style="width:0.1%"></td></tr><tr style="height:32pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;text-indent:1.8pt;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%">All amounts in U.S. $ millions except per share information</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:148%">Three months ended <br>June 30</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:148%">Six months ended <br>June 30</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">2023</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">2022</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:104%">Change</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">2023</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">2022</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:104%">Change</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;text-indent:3.1pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">Revenue</font></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">627.9</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">619.4&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">1%</font></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">1,406.5</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">1,352.6&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">4%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.1pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:103%">Net earnings attributable to shareholders</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:102%">(253.2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(33.4)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">16.9</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">57.6</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(71)%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:110%">&#160;&#160;&#160;&#160;&#160;&#160;Per common share </font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:102%">(0.37)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(0.05)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">0.02</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">0.08</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(77)%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.1pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:103%">Cash provided by operating activities</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">261.4</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">135.3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">93%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">294.7</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">301.6</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(2)%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-indent:3.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:105%">Adjusted Net Earnings</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:105%;position:relative;top:-3.85pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">56.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">109.6</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(49)%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">176</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">250.7</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(30)%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:110%">&#160;&#160;&#160;&#160;&#160;&#160;Per common share</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">0.08</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">0.16</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(50)%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">0.25</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">0.36</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(31)%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-indent:3.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:105%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:105%;position:relative;top:-3.85pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">277.7</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">289.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(4)%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">618.7</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">619.4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">&#8212;%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-indent:3.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:104%">Adjusted Funds from Operations</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:104%;position:relative;top:-3.85pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">154.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">180.3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(14)%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">367.8</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">400.6</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(8)%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:3.1pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:103%">Dividends per common share</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">0.1085</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">0.1808</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(40)%</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:101%">0.217</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">0.3514</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">(38)%</font></td></tr></table></div><div style="margin-bottom:2.6pt"><font><br></font></div><div style="margin-top:1.25pt;padding-left:10.8pt;padding-right:3.6pt"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:3.57pt;font-weight:400;line-height:120%;position:relative;top:-1.92pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%"> Please refer to &#34;Non-GAAP Measures&#34; below for further details.</font></div><div style="margin-top:17.35pt;padding-left:3.6pt;padding-right:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Quarterly Results</font></div><div style="margin-top:6.55pt;padding-left:39.6pt;padding-right:3.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:154%">&#183;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:154%;padding-left:14.34pt">Solid Regulated Growth from New Rate Implementations &#8211; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:154%">The Regulated Services Group grew primarily due to the implementation of new rates at certain of the Company's utilities. As previously disclosed, the Company realized the benefit of an annual revenue increase of $27.0 million at its CalPeco Electric utility, which was authorized on April 27, 2023, effective June 2023 and retroactive to January 2022. The order&#8217;s retroactive adjustment resulted in a one-time net earnings benefit of $11.2 million that was realized in the second quarter of 2023.</font></div><div style="margin-top:3.75pt;padding-left:39.6pt;padding-right:3.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:154%">&#183;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:154%;padding-left:14.34pt">New Rates Filed in New York and New Hampshire &#8211; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:154%">In the second quarter of 2023, the Regulated Services Group filed for new rates at its New York Water and Granite State Electric utilities. The New York Water application, filed on May 4, 2023, seeks an increase in revenues of $39.7 million based on a return on equity (&#8220;ROE&#8221;) of 10% and an equity ratio of 50%. The Granite State Electric utility, filed on May 5, 2023, seeks a permanent increase in revenues of $15.5 million and a temporary increase of $6.7 million based on an ROE of 10.35% and an equity ratio of 55%.</font></div><div style="margin-top:3.75pt;padding-left:39.6pt;padding-right:3.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:154%">&#183;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:154%;padding-left:14.34pt">Unfavourably Impacted Results due to Weather &#8211; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:154%">Overall across the Company&#8217;s business segments, unfavourable weather negatively impacted second quarter Adjusted Net Earnings per common share by approximately three cents compared to the same period in 2022. More specifically, the Renewable Energy Group&#8217;s wind facilities generated 75.1% of long-term average resource, a 22% decrease compared to the same period in 2022, accounting for approximately two cents of year-over-year Adjusted Net Earnings per common share decline (see &#8220;Non-GAAP Measures&#8221; below). For the Regulated Services Group, unfavourable weather reduced customer demand and drove a headwind equating to approximately one cent of year-over-year Adjusted Net Earnings per common share decline.</font></div><div style="margin-top:3.6pt;padding-left:39.6pt;padding-right:3.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:154%">&#183;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:154%;padding-left:14.34pt">Renewable Operating Performance Reduced by HLBV Roll Offs &#8211; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:154%">The Renewable Energy Group experienced a $14.0 million decrease in Hypothetical Liquidation at Book Value (&#8220;HLBV&#8221;) related to end of the production tax credit eligibility on certain projects commissioned in 2012, as previously experienced in the latter half of 2022 and first quarter of 2023, and the remainder related to weather-driven reduced wind production.</font></div><div style="height:63.36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_16"></div><hr style="page-break-after:always"><div style="min-height:36.72pt;width:100%"><div><font><br></font></div></div><div style="margin-top:1.35pt;padding-left:39.6pt;padding-right:3.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:152%">&#183;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:152%;padding-left:14.34pt">Higher Interest Expenses Reflect Growth Financing and Macro Environment &#8211; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:152%">In the second quarter of 2023, interest expense increased by $25.1 million year-over-year, with approximately two-thirds of this increase attributable to higher short-term borrowing costs and approximately one-third attributable to financings to support growth initiatives. Higher interest expenses also drove a large portion of the year-over-year decline in adjusted funds from operations.</font></div><div style="margin-top:6.2pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:148%">The Interim MD&#38;A and AQN&#8217;s unaudited interim consolidated financial statements for the three and six months ended June 30, 2023 will be available on its web site at www.AlgonquinPower.com and in its corporate filings on SEDAR+ at www.sedarplus.com (for Canadian filings) and EDGAR at www.sec.gov&#47;edgar (for U.S. filings).</font></div><div style="margin-top:8.45pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Earnings Conference Call</font></div><div style="margin-bottom:9.35pt;margin-top:5.95pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:148%">AQN will hold an earnings conference call at 8&#58;30 a.m. eastern time on Thursday, August 10, 2023, hosted by Interim Chief Executive Officer, Chris Huskilson, and Chief Financial Officer, Darren Myers.</font></div><div style="padding-left:2.65pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.281%"><tr><td style="width:1.0%"></td><td style="width:16.410%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.093%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:55.197%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Date&#58;</font></td><td colspan="6" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">Thursday, August 10, 2023</font></td></tr><tr><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Time&#58;</font></td><td colspan="6" style="border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">8&#58;30 a.m. ET</font></td></tr><tr><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Conference Call&#58;</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Toll Free Dial-In Number</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">1( 800) 715-9871</font></td></tr><tr><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Toll Dial-In Number</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">1 (646) 307-1963</font></td></tr><tr><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Conference ID</font></td><td colspan="3" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">2060573</font></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Webcast&#58;</font></td><td colspan="6" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:3.65pt;padding-left:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:91%;text-decoration:underline">https&#58;&#47;&#47;edge.media-server.com&#47;mmc&#47;p&#47;8edd52rm</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:91%"> </font></div></td></tr><tr style="height:6pt"><td colspan="6" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.7pt;margin-top:3.65pt;padding-left:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%">Presentation also available at&#58;</font><font style="color:#094694;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:100%;text-decoration:underline">www.algonquinpower.com</font></div></td></tr></table></div><div style="margin-bottom:6.3pt"><font><br></font></div><div style="margin-top:1.65pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">About Algonquin Power &#38; Utilities Corp. and Liberty</font></div><div style="margin-top:6.15pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:148%">Algonquin Power &#38; Utilities Corp., parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $17 billion of total assets. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. In addition, AQN owns, operates, and&#47;or has net interests in over 4 GW of installed renewable energy capacity. AQN's common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. AQN's common shares, Series 2018-A subordinated notes, Series 2019-A subordinated notes and equity units are listed on the New York Stock Exchange under the symbols AQN, AQNA, AQNB, and AQNU, respectively.</font></div><div style="padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:210%">Visit AQN at www.algonquinpower.com and follow us on Twitter &#64;AQN_Utilities. <br></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:210%">Investor Inquiries&#58;</font></div><div style="padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:144%">Brian Chin</font></div><div style="margin-top:0.25pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:144%">Vice President, Investor Relations <br>Algonquin Power &#38; Utilities Corp. <br>E-mail&#58; InvestorRelations&#64;APUCorp.com</font><font style="color:#0462c1;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:144%"> <br></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:144%">Telephone&#58; (905) 465-4500</font></div><div style="height:78.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_19"></div><hr style="page-break-after:always"><div style="min-height:41.76pt;width:100%"><div><font><br></font></div></div><div style="margin-top:2pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:210%">Media Inquiries&#58;</font></div><div style="padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:144%">Stephanie Bose</font></div><div style="padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:144%">Director, Corporate Communications</font></div><div style="padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:144%">Liberty</font></div><div style="padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:144%">E-mail&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:144%"> Corporate.Communications&#64;libertyutilities.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:144%"> </font></div><div style="padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:144%">Telephone&#58; (905) 465-4500</font></div><div style="margin-top:7.75pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Caution Regarding Forward-Looking Information</font></div><div style="margin-top:7.3pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">Certain statements included in this news release constitute &#8220;forward-looking information&#8221; within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and &#8220;forward-looking statements&#8221; within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, &#8220;forward-looking statements&#8221;). The words &#8220;will&#8221;, &#8220;expects&#8221;, &#8220;estimates&#8221;, &#8220;intends&#8221;, &#8220;aims&#8221;, &#8220;believes&#8221;, &#8220;outlook&#8221; (and grammatical variations of such terms) and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements in this news release include, but are not limited to, statements regarding&#58; the Company&#8217;s pursuit of a sale of the Renewable Energy Group&#59; the expected benefits, outcomes, results and aims of a sale of the Renewable Energy Group&#59; the expected use of proceeds from a sale of the Renewable Energy Group&#59; and the Company&#8217;s expectation that it will exit the sale process as a competitively capitalized, pure-play regulated utility with a stable and healthy growth outlook. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. AQN cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. There can be no assurance that a sale or other separation transaction regarding the Renewable Energy Group will occur, or that any of the intended benefits and aims of any such transaction will be realized. Forward-looking statements contained herein are provided for the purposes of assisting in understanding the Company 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 such information may not be appropriate for other purposes. Material risk factors and assumptions include those set out in AQN's Annual Information Form and Management Discussion &#38; Analysis for the year ended December 31, 2022 (the &#8220;Annual MD&#38;A&#8221;), and in the Interim MD&#38;A, each of which is or will be available on SEDAR+ and EDGAR.</font></div><div style="margin-top:6.55pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, AQN undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.</font></div><div style="margin-top:14.45pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Non-GAAP Measures</font></div><div style="margin-top:6.35pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">AQN uses a number of financial measures to assess the performance of its business lines. Some measures are calculated in accordance with generally accepted accounting principles in the United States (&#34;U.S. GAAP&#34;), while other measures do not have a standardized meaning under U.S. GAAP. These non-GAAP measures include non-GAAP</font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_22"></div><hr style="page-break-after:always"><div style="min-height:38.16pt;width:100%"><div><font><br></font></div></div><div style="margin-top:0.35pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">financial measures and non-GAAP ratios, each as defined in Canadian National Instrument 52-112 &#8211; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:155%">Non-GAAP and Other Financial Measures Disclosure</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">. AQN&#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.</font></div><div style="margin-top:6.2pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">The terms &#8220;Adjusted Net Earnings&#8221;, &#8220;Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization&#8221; (or &#8220;Adjusted EBITDA&#8221;), &#8220;Adjusted Funds from Operations&#8221; and &#8220;Divisional Operating Profit&#8221;, which are used in this news release, are non-GAAP financial measures. An explanation of each of these non-GAAP financial measures can be found in the section entitled &#34;Caution Concerning Non-GAAP Measures&#34; in the Interim MD&#38;A, which section is incorporated by reference into this news release, and a reconciliation to the most directly comparable U.S. GAAP measure, in each case, can be found below. In addition, &#8220;Adjusted Net Earnings&#8221; is presented in this news release on a per common share basis. Adjusted Net Earnings per common share is a non-GAAP ratio and is calculated by dividing Adjusted Net Earnings by the weighted average number of common shares outstanding during the applicable period.</font></div><div style="margin-top:6.15pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">AQN does not provide reconciliations for forward-looking non-GAAP financial measures as AQN is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or amount of various events that have not yet occurred, are out of AQN&#8217;s control and&#47;or cannot be reasonably predicted, and that would impact the most directly comparable forward-looking U.S. GAAP financial measure. For these same reasons, AQN is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures may vary materially from the corresponding U.S. GAAP financial measures.</font></div><div style="height:414pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_25"></div><hr style="page-break-after:always"><div style="min-height:41.76pt;width:100%"><div><font><br></font></div></div><div style="margin-top:1.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:103%">Reconciliation of Adjusted EBITDA to Net Earnings</font></div><div style="margin-bottom:6.2pt;margin-top:4.5pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">The following table is derived from and should be read in conjunction with the consolidated statement of operations. This supplementary disclosure is intended to more fully explain disclosures related to Adjusted EBITDA and provides additional information related to the operating performance of AQN. Investors are cautioned that this measure should not be construed as an alternative to U.S. GAAP consolidated net earnings.</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.137%"><tr><td style="width:1.0%"></td><td style="width:54.986%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.334%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.524%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.334%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.524%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.334%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.524%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.340%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Three months ended</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Six months ended</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">June 30</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">June 30</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(all dollar amounts in $ millions)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2023</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2023</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2022</font></td></tr><tr><td colspan="3" style="border-top:2pt solid #05cfff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Net earnings (loss) attributable to shareholders</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(253.2)</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #05cfff;padding:0 1pt"></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(33.4)</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #05cfff;padding:0 1pt"></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">16.9</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #05cfff;padding:0 1pt"></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">57.6&#160;</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Add (deduct)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Net earnings attributable to the non-controlling interest, exclusive of HLBV</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">16.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">3.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">30.8</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">7.6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Income tax recovery</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(56.0)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(22.8)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(31.3)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(13.4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Interest expense</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">89.7</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">64.6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">171.6</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">122.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Other net losses</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:100%;position:relative;top:-3.85pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">40.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">8.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">43.8</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">13.4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Unrealized loss (gain) on energy derivatives included in revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(0.1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(0.1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">3.1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Pension and post-employment non-service costs</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">5.3</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2.3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">10.3</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">4.8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Change in value of investments carried at fair value</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:100%;position:relative;top:-3.85pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">311.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">143.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">132.0</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">184.0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Loss (gain) on derivative financial instruments </font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(1.0)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">3.3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(3.2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2.6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Loss on foreign exchange</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">6.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">4.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">7.8</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">4.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">118.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">112.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">240.1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">232.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Adjusted EBITDA</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">277.7</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">289.2&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">618.7</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">619.4&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:2.1pt;padding-left:7.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:3.25pt;font-weight:400;line-height:126%;position:relative;top:-1.75pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:126%"> See </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:126%">Note 16 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:126%">in the unaudited interim consolidated financial statements.</font></div><div style="margin-top:6.1pt;padding-left:7.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:3.25pt;font-weight:400;line-height:126%;position:relative;top:-1.75pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:126%"> See </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:126%">Note 6 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:126%">in the unaudited interim consolidated financial statements.</font></div><div style="height:349.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_28"></div><hr style="page-break-after:always"><div style="min-height:41.76pt;width:100%"><div><font><br></font></div></div><div style="margin-top:1.9pt;padding-left:7.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:103%">Reconciliation of Adjusted Net Earnings to Net Earnings</font></div><div style="margin-top:6.2pt;padding-left:7.2pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">The following table is derived from and should be read in conjunction with the consolidated statement of operations. This supplementary disclosure is intended to more fully explain disclosures related to Adjusted Net Earnings and provides additional information related to the operating performance of AQN. Investors are cautioned that this measure should not be construed as an alternative to consolidated net earnings in accordance with U.S. GAAP.</font></div><div style="margin-bottom:5.75pt;margin-top:5.75pt;padding-left:7.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:103%">The following table shows the reconciliation of net earnings to Adjusted Net Earnings exclusive of these items&#58;</font></div><div style="padding-left:3.6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.275%"><tr><td style="width:1.0%"></td><td style="width:54.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.431%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Three months ended</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Six months ended</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">June 30</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">June 30</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(all dollar amounts in $ millions except per share information)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2023</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2023</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2022</font></td></tr><tr><td colspan="3" style="border-top:2pt solid #05cfff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Net earnings (loss) attributable to shareholders</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(253.2)</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #05cfff;padding:0 1pt"></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(33.4)</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #05cfff;padding:0 1pt"></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">16.9</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #05cfff;padding:0 1pt"></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">57.6&#160;</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Add (deduct)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Loss (gain) on derivative financial instruments</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(1.0)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">3.3&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(3.2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2.6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Other net losses</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:100%;position:relative;top:-3.85pt;vertical-align:baseline">1</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">40.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">8.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">43.8</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">13.4&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Loss on foreign exchange</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">6.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">4.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">7.8</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">4.7&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Unrealized loss (gain) on energy derivatives included in revenue</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(0.1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(0.1)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">3.1&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Change in value of investments carried at fair value</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:100%;position:relative;top:-3.85pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">311.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">143.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">132.0</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">184.0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Adjustment for taxes related to above</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(47.7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(19.5)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(21.2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(14.7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Adjusted Net Earnings</font></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">56.2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">109.6&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">176.0</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">250.7&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Adjusted Net Earnings per common share</font></td><td style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">0.08</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">0.16&#160;</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">0.25</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">0.36&#160;</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:2.1pt;padding-left:7.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:3.25pt;font-weight:400;line-height:126%;position:relative;top:-1.75pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:126%"> See </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:126%">Note 16 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:126%">in the unaudited interim consolidated financial statements.</font></div><div style="margin-top:4.4pt;padding-left:7.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:3.25pt;font-weight:400;line-height:126%;position:relative;top:-1.75pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:126%"> See </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:126%">Note 6 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:126%">in the unaudited interim consolidated financial statements.</font></div><div style="margin-top:12.85pt;padding-left:7.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:103%">Reconciliation of Adjusted Funds from Operations to Cash Provided by Operating Activities</font></div><div style="margin-top:10.5pt;padding-left:7.2pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:155%">The following table is derived from and should be read in conjunction with the consolidated statement of operations and consolidated statement of cash flows. This supplementary disclosure is intended to more fully explain disclosures related to Adjusted Funds from Operations and provides additional information related to the operating performance of AQN. Investors are cautioned that this measure should not be construed as an alternative to cash provided by operating activities in accordance with U.S GAAP.</font></div><div style="margin-top:4pt;padding-left:7.2pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">The following table shows the reconciliation of cash provided by operating activities to Adjusted Funds from Operations exclusive of these items&#58;</font></div><div style="margin-top:9.85pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.275%"><tr><td style="width:1.0%"></td><td style="width:54.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.431%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Three months ended</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Six months ended</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">June 30</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">June 30</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(all dollar amounts in $ millions)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2023</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2023</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2022</font></td></tr><tr><td colspan="3" style="border-top:2pt solid #05cfff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Cash provided by operating activities</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">261.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-top:2pt solid #05cfff;padding:0 1pt"></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">135.3&#160;</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-top:2pt solid #05cfff;padding:0 1pt"></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">294.7</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-top:2pt solid #05cfff;padding:0 1pt"></td><td style="border-top:2pt solid #05cfff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:2pt solid #05cfff;padding:2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">301.6&#160;</font></td><td style="border-top:2pt solid #05cfff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Add (deduct)&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Changes in non-cash operating items</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">(112.4)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">36.6&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">53.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">84.8&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Production based cash contributions from non-controlling interests</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2.5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">9.1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">6.2&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Costs related to tax equity financing</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">1.2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">1.2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Acquisition-related costs</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">4.0</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">5.9&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">9.4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">8.0&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Adjusted Funds from Operations</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">154.2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">180.3&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">367.8</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">$</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">400.6&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="height:51.12pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_31"></div><hr style="page-break-after:always"><div style="min-height:90pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:179%">Schedule &#8220;B&#8221;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:179%"> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">(see attached)</font></div><div style="height:645.12pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_34"></div><hr style="page-break-after:always"><div style="min-height:41.76pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:12.55pt;margin-top:0.25pt;padding-left:3.45pt;padding-right:367.1pt"><img alt="image_4a.jpg" src="image_4a.jpg" style="height:58px;margin-bottom:5pt;vertical-align:text-bottom;width:201px"></div><div style="padding-left:3.6pt;padding-right:3.6pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:168%">Algonquin Power &#38; Utilities Corp. Announces CEO Transition <br></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:168%">Chris Huskilson Appointed Interim CEO, Succeeding Arun Banskota <br>Board Commencing Search for a Permanent CEO</font></div><div style="margin-top:12.6pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:137%">OAKVILLE, ON </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12.5pt;font-weight:700;line-height:137%">&#8211; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:137%">August 10, 2023 - </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:137%">Algonquin Power &#38; Utilities Corp. (&#34;AQN&#34;, &#8220;Algonquin&#8221; or the &#8220;Company&#8221;) (TSX&#47;NYSE&#58; AQN) today announced that energy industry veteran Christopher Huskilson, a member of the Algonquin Board of Directors (the &#8220;Board&#8221;) since 2020, has been appointed Interim Chief Executive Officer, effective immediately. He succeeds Arun Banskota, who has stepped down as President and Chief Executive Officer and as a member of the Board, effective immediately.</font></div><div style="margin-top:5.8pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">The Board has engaged a nationally recognized search firm to commence a search process to identify a permanent Chief Executive Officer.</font></div><div style="margin-top:6.3pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">&#8220;As AQN prepares to pursue a sale of its renewables business and move forward as a pure-play regulated utility company, the Board of Directors has determined that now is the right time to transition leadership,&#8221; said Kenneth Moore, Chair of the Algonquin Board of Directors. &#8220;Chris has a record of driving significant growth in the energy industry, and he knows AQN and our business well from his tenures on the AQN Board. As we conduct a search for a permanent CEO, we are confident that Chris will ensure a smooth transition while we pursue a sale of the renewables business and position AQN&#8217;s utility business for its next phase of standalone growth and value creation.&#8221;</font></div><div style="margin-top:5.95pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">Kenneth Moore continued, &#8220;On behalf of everyone at AQN, I want to thank Arun for his leadership and contributions throughout his tenure. Arun guided AQN through the pandemic and built on the legacy of AQN&#8217;s founders over his three years as CEO, and we wish him the best in his future endeavors.&#8221;</font></div><div style="margin-top:5.95pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">&#8220;It is a privilege to serve as Interim CEO at this critical juncture for the Company after having chaired the Strategic Review Committee of the Board,&#8221; said Chris Huskilson, Interim CEO. &#8220;As we begin the sale process for the renewables business, our focus remains on executing our value-creation strategies and operating efficiently across both our regulated and renewable asset base. I look forward to working with the Board and management team during this transition period to build on all the work underway to re-establish AQN as a top tier utility business and unlock value for shareholders.&#8221;</font></div><div style="margin-top:6.1pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">Arun Banskota said, &#8220;I am proud to have had the opportunity to serve Algonquin over the past three years and believe that the Company is well positioned to deliver long-term, sustainable value for years to come.&#8221;</font></div><div style="margin-top:11.05pt;padding-left:3.6pt;padding-right:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:103%">Strategic Review Update and Second Quarter 2023 Earnings</font></div><div style="margin-top:5.85pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">In a separately issued press release, the Company provided an update on its previously announced strategic review of its renewables business and announced that its Board of Directors will pursue a sale of its Renewable Energy Group. The Company also reported second quarter 2023 earnings. AQN will hold an earnings conference call at 8&#58;30 a.m. eastern time this morning, hosted by Interim Chief Executive Officer, Chris Huskilson, and Chief Financial Officer, Darren Myers. The release can be viewed on the Company's Investor Relations page at AlgonquinPower.com, as well as on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov&#47;edgar. </font></div><div style="height:58.32pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_37"></div><hr style="page-break-after:always"><div style="min-height:41.76pt;width:100%"><div><font><br></font></div></div><div style="margin-top:1.9pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:103%">About Chris Huskilson</font></div><div style="margin-top:6.8pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:140%">Chris is an energy industry veteran with over 20 years of experience leading utility businesses. His previous roles include serving as the CEO and a Director of Emera Inc., a publicly traded and geographically diverse energy and service company based in Halifax, Nova Scotia. During his 13 years leading Emera, he grew the business through substantial organic and acquisition-based growth, including more than doubling the business by acquiring Florida based TECO Energy in 2015. In addition, he has served as President and CEO of 5-H Holdings Inc. and the Chair of XOCEAN Ltd. He has also served as Chair of the Canadian Electricity Association, Chair of the Energy Council of Canada, Chair of the Greater Halifax Partnership, and is a founding member of Canada&#8217;s Ocean Supercluster, Dalhousie&#8217;s Creative Destruction Lab, and Endeavor Canada. He served on AQN&#8217;s Board from 2009 to 2016, while Emera held 25% of the Company, and began his current tenure on the AQN Board in January 2020. Chris holds a Bachelor of Science in Engineering, a Master of Science in Engineering, and a Doctor of Science, Honoris Causa from the University of New Brunswick.</font></div><div style="margin-top:11pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:103%">About Algonquin Power &#38; Utilities Corp. and Liberty</font></div><div style="margin-top:6.5pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:140%">Algonquin Power &#38; Utilities Corp., parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $17 billion of total assets. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. In addition, AQN owns, operates, and&#47;or has net interests in over 4 GW of installed renewable energy capacity. AQN's common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. AQN's common shares, Series 2018-A subordinated notes, Series 2019-A subordinated notes and equity units are listed on the New York Stock Exchange under the symbols AQN, AQNA, AQNB, and AQNU, respectively.</font></div><div style="padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:196%">Visit AQN at www.algonquinpower.com and follow us on Twitter &#64;AQN_Utilities. </font><font style="color:#0462c1;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:196%"><br></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:196%">Caution Regarding Forward-Looking Information</font></div><div style="margin-top:7pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:400;line-height:140%">Certain statements included in this news release constitute &#8220;forward-looking information&#8221; within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and &#8220;forward-looking statements&#8221; within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, &#8220;forward-looking statements&#8221;). The words &#8220;will&#8221; and &#8220;expects&#8221; (and grammatical variations of such terms) and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements in this news release include, but are not limited to, statements regarding the Company&#8217;s pursuit of a sale of its Renewable Energy Group and the expected impact and outcomes thereof. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. AQN cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. There can be no assurance that a transaction, strategic change or outcome will result from or be implemented as a result of the strategic review or that any transaction resulting therefrom will ultimately enhance shareholder value or result in a lower cost of capital. Forward-looking statements contained herein are provided for the purposes of presenting information about</font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i78f3ffeb291d481cb99798f16ca5d9ba_40"></div><hr style="page-break-after:always"><div style="min-height:38.88pt;width:100%"><div><font><br></font></div></div><div style="margin-top:0.45pt;padding-left:3.6pt;padding-right:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">management&#8217;s current expectations and plans relating to the future and such information may not be appropriate for other purposes. Material risk factors and assumptions include those set out in AQN's Annual Information Form and Management Discussion &#38; Analysis for the year ended December 31, 2022, and in AQN&#8217;s Management Discussion &#38; Analysis for the three months ended June 30, 2023, each of which is or will be available on SEDAR+ and EDGAR. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, AQN undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.</font></div><div style="margin-top:10.65pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Investor Inquiries&#58;</font></div><div style="margin-top:10.75pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:101%">Brian Chin</font></div><div style="margin-top:6.4pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:146%">Vice President, Investor Relations <br>Algonquin Power &#38; Utilities Corp. <br>E-mail&#58; InvestorRelations&#64;APUCorp.com <br>Telephone&#58; (905) 465-4500</font></div><div style="margin-top:10.6pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11.5pt;font-weight:700;line-height:100%">Media Inquiries&#58;</font></div><div style="margin-top:10.8pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:103%">Stephanie Bose</font></div><div style="margin-top:4.75pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:103%">Director, Corporate Communications</font></div><div style="margin-top:4.8pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:103%">Algonquin Power &#38; Utilities Corp.</font></div><div style="margin-top:4.75pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:103%">E-mail&#58; Corporate.Communications&#64;libertyutilities.com </font></div><div style="margin-top:4.75pt;padding-left:3.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:103%">Telephone&#58; (905) 465-4500</font></div><div style="height:402.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image_4a.jpg
<TEXT>
begin 644 image_4a.jpg
M_]C_X  02D9)1@ ! 0$ E@"6  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !< 3P# 2(  A$! Q$!_\0
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MC_X:M=%\56>I64,<,>I1,9$0 #S$(W'';(9?QS70_!KQC/IO@B2S-L)UBO)
MA>0\ JIP!C@9)_.@#WR>9+>%YI7"1QJ6=F.  .I-?$?C'7O^$F\7ZIK'.RZG
M+1@]0@X4=/[H%?3GQH\2?\(]\/[M(FQ<ZA_HD0#8(# [C^"Y_,5\X_#CPJOB
M_P <6&ES FT),MSM.#Y:C)'X\#CUH N^&OBQXD\(Z+'I6E"Q6W5V?,D&YF8G
MDDYY[#Z 5L?\- >-^F_3_P#P&_\ KU[5_P */\ 'KHK_ /@7-_\ %4?\*/\
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MNY \JZA:(DC.,CKCVZ_A7D5G^SO!I][!>VOBF[CG@=9(W6U7*L#D'[U>W44
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M,)_SY_(?,NQY?_PEFN_]!&3_ +Y7_"C_ (2S7?\ H(R?]\K_ (5ZA_8>D_\
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-7=3\_P!3>%*:WD?_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
