Innergex Announces the Voting Results From Its 2025 Annual and Special Meeting of Shareholders

LONGUEUIL, Quebec, May 2, 2025 – Innergex Renewable Energy Inc. (TSX: INE) (“Innergex” or the “Corporation”) is pleased to announce that (i) the holders of record on March 21, 2025 (the “Common Shareholders”) of its common shares (the “Common Shares”) and (ii) the holders of record on March 21, 2025 (the “Series A Preferred Shareholders”) of its cumulative rate reset preferred shares, Series A (the “Series A Preferred Shares”) have each approved, at the annual and special meeting of shareholders of the Corporation held on May 1^st, 2025 (the “Meeting”), a special resolution, in each case, approving the statutory plan of arrangement for the acquisition by CDPQ of (i) all of the issued and outstanding Common Shares (other than those held by CDPQ and its affiliates and the shares to be rolled over by certain members of senior management (collectively, the “Rollover Shareholders”)) for a price of $13.75 per Common Share in cash and (ii) all of the issued and outstanding Series A Preferred Shares and cumulative redeemable fixed rate preferred shares, series C of Innergex (collectively with the Series A Preferred Shares, the “Preferred Shares”) for a price of $25.00 per Preferred Share in cash (plus all accrued and unpaid dividends and, in the case of the Series A Preferred Shares, an amount in cash per Series A Preferred Share equal to the dividends that would have been payable in respect of such share until January 15, 2026, which is the next available redemption date) (the “Arrangement”).

At the Meeting, the arrangement resolution was approved by 99.86% of the votes cast by Common Shareholders present virtually or represented by proxy at the Meeting. The arrangement resolution was also approved by 99.86% of the votes cast by Common Shareholders present virtually or represented by proxy at the Meeting, excluding Common Shares held by the Rollover Shareholders and any other Common Shares required to be excluded pursuant to, in the province of Québec, Regulation 61-101 Respecting Protection of Minority Security Holders in Special Transactions and, in other provinces, Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Series A Preferred Shareholders’ arrangement resolution was approved by 99.86% of the votes cast by Series A Preferred Shareholders present virtually or represented by proxy at the Meeting.

The completion of the Arrangement remains subject to the satisfaction or waiver of certain other closing conditions customary in a transaction of this nature, including the receipt of a final order by the Québec Superior Court (the “Final Order”) and certain regulatory approvals. The hearing in respect of the Final Order is scheduled to take place on May 7, 2025. Assuming that these remaining conditions to closing are satisfied or waived, it is anticipated that the Arrangement will be completed by Q4 2025.

In addition to the two special resolutions regarding the Arrangement, the Corporation also announces that all nominees listed in the management information circular dated March 21, 2025 were elected as directors of the Corporation.

The detailed results of the vote by ballot of the Common Shares shareholders for the election of directors are as follows:

Name	Votes For	% Votes For	Votes Against	% Votes Against
Marc-André Aubé	138,533,479	99.32	948,078	0.68
Pierre G. Brodeur	138,549,905	99.33	931,922	0.67
Radha D. Curpen	138,528,225	99.32	948,602	0.68
Nathalie Francisci	137,463,798	98.55	2,018,028	1.45
Richard Gagnon	127,045,725	91.08	12,436,102	8.92
Jean-Hugues Lafleur	137,349,685	98.47	2,132,142	1.53
Michel Letellier	138,532,062	99.32	949,765	0.68
Patrick Loulou	138,453,262	99.26	1,028,565	0.74
Monique Mercier	129,976,003	93.18	9,505,824	6.82
Ouma Sananikone	138,436,163	99.25	1,045,664	0.75

The formal report on voting results with respect to all matters voted upon during the Meeting was filed with the regulatory authorities and is available on SEDAR+ at www.sedarplus.ca.

Innergex plans to release its financial results for the three-month period ended March 31, 2025, after market close on Wednesday, May 7, 2025. In light of the Corporation’s acquisition by CDPQ, no conference call is planned.

About Innergex Renewable Energy Inc.

For over 35 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world. Innergex conducts operations in Canada, the United States, France and Chile and manages a large portfolio of high-quality assets currently consisting of interests in 90 operating facilities with an aggregate net installed capacity of 3,707 MW (gross 4 663 MW), including 42 hydroelectric facilities, 36 wind facilities, 9 solar facilities and 3 battery energy storage facilities. Innergex also holds interests in 17 projects under development with a net installed capacity of 945 MW (gross 1,577 MW), 6 of which are under construction, as well as prospective projects at different stages of development with an aggregate gross installed capacity totaling 10,288 MW. Its approach to building shareholder value is to generate sustainable cash flows and provide an attractive risk-adjusted return on invested capital.

For information

Investor Relations

Naji Baydoun
Director – Investor Relations
450 928-2550 #1263
investorrelations@innergex.com

Media
Jade Lachapelle
Advisor – Communications
450 928-2550, ext. 1302
media@innergex.com

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