CPX Capital Power Corporation

The Board of Directors for Capital Power Corporation (“Capital Power”) (TSX: CPX) declared a dividend of $0.615 per share on the outstanding common shares for the quarter ending December 31, 2023. The dividend is payable on January 31, 2024 to shareholders of record at the close of business on December 29, 2023.

The Board of Directors also declared the following dividends on its Cumulative Rate Reset Preference Shares:

Shares	TSX StockSymbol	Dividend PerShare		Record Date	Payment Date
Series 1	CPX.PR.A	$0.1638125		December 14, 2023	December 29, 2023
Series 3	CPX.PR.C	$0.3408125		December 14, 2023	December 29, 2023
Series 5	CPX.PR.E	$0.4144375		December 14, 2023	December 29, 2023
Series 11	CPX.PR.K	$0.359375		December 14, 2023	December 29, 2023

The dividends for the common shares and preference shares are 100 per cent eligible dividends as defined by the Income Tax Act. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits that reduce the income tax otherwise payable on these dividends.

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

About Capital PowerCapital Power is a growth-oriented power producer committed to net zero by 2045. Our balanced approach to the energy transition prioritizes reliable, affordable and decarbonized power that communities across North America can depend on.

Capital Power owns approximately 7,500 megawatts (MW) of power generation capacity at 29 facilities across North America. Projects in advanced development include approximately 213 MW of renewable generation capacity in Alberta and North Carolina, 512 MW of incremental natural gas combined cycle capacity from the repowering of Genesee 1 and 2 in Alberta, and approximately 350 MW of natural gas and battery energy storage systems in Ontario.

For more information, please contact:

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