CPX Capital Power Corporation

Capital Power Corporation (TSX: CPX) ("Capital Power") is pleased to announce the closing today of its previously announced sale of a 49% interest in the Quality Wind facility in British Columbia and the Port Dover and Nanticoke Wind facility in Ontario to Axium Infrastructure (“Axium”).

The renewable power asset sell-down transaction was previously announced on November 26, 2024. Total pre-tax cash proceeds to Capital Power from the transaction are expected to be approximately $340 million, inclusive of working capital. Capital Power will remain as operator for the facilities and receive an asset management fee.

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 (TSX: CPX) is a growth-oriented power producer with approximately 9,800 MW of power generation at 30 facilities across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building clean power systems, and creating balanced solutions for our energy future. We are Powering Change by Changing Power™.

About Axium Infrastructure Inc.Axium Infrastructure (comprised of Axium Infrastructure Inc. and its affiliated entities) is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Axium Infrastructure had over C$11.5 billion in assets under management as of September 30, 2024, as well as approximately C$2.0 billion in co-investments. With offices in Montreal, Toronto, Vancouver, New York, and London, the firm benefits from the capabilities of a group of specialists with decades of experience acquiring, developing, financing, operating, and managing infrastructure assets. Focus is placed on assets that are supported by robust market demand and under long-term contract with creditworthy counterparties. Since 2010, the firm has invested in a diversified portfolio of over 265 infrastructure assets. For further information, including information about other infrastructure assets the firm has invested in, please visit www.axiuminfra.com. This release is for informational purposes only and does not constitute an offer or solicitation to buy securities of any entity.

For more information, please contact:

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

Investor Relations:Roy Arthur(403) 736-3315investor@capitalpower.com Anne-Sophie RoySenior Vice President, Investor RelationsAxium Infrastructure Inc.asroy@axiuminfra.com(514) 954-3781