Mr. David Eva of Capstone reports

CAPSTONE INFRASTRUCTURE CORPORATION AND SAWRIDGE FIRST NATION CELEBRATE THE START OF COMMERCIAL OPERATIONS AT BUFFALO ATLEE WIND FARMS ALONGSIDE CORPORATE OFF-TAKER GIBSON ENERGY INC.

Capstone Infrastructure Corp. and Sawridge First Nation have successfully commissioned four wind farms in Alberta.

Generating a low carbon future

The Buffalo Atlee 1, 2, 3 and 4 wind farms add another 61 megawatts of emissions-free electricity capacity to the Alberta grid, which is expected to provide enough power for approximately 26,000 homes in Alberta homes every year. Together, the four facilities are expected to avoid fossil fuel carbon dioxide (CO2) emissions of approximately 93,000 metric tonnes annually at the start of commercial operation.

"Capstone prides itself on forging partnerships that support the energy transition while delivering economic benefits for local communities and our indigenous partners, and all of the Buffalo Atlee project partners shares this same vision. I'd also like to extend a huge thank you to the dedicated Capstone project team that made this project a reality," said David Eva, chief executive officer, Capstone.

Building relationships with indigenous and local communities

Through these projects, Capstone is pleased to establish a long-term equity partnership with the Sawridge First Nation, a Cree people that is an original signatory to Treaty 8. Additionally, the Buffalo Atlee wind farms are expected to provide millions of dollars in stable, long-term revenue to the local municipality of Special Areas No. 2.

"The Sawridge First Nation recognizes the importance of developing renewable energy sources in support of growth and in pursuit of sustainability. We are proud of the partnership we have built with Capstone and are excited to celebrate the official launch of this project," said Chief Isaac Twinn, Sawridge First Nation.

Forging strategic partnerships

The electricity produced at the Buffalo Atlee 2 and 4 wind farms will be purchased by Gibson Energy Inc. (TSX: GEI), according to the terms of the 15-year renewable power purchase agreement (PPA) signed by Capstone, Sawridge and Gibson in 2023. The PPA demonstrates Gibson's commitment to the low-carbon transition and achieving its emission reduction targets, including a goal of net zero by 2050.

"I'd like to reiterate how proud we are to partner with Capstone and Sawridge First Nation, as we see our shared commitment to community development and decarbonization of the power grid in action with the successful commissioning of the Buffalo Atlee project. This project truly exemplifies the power of collaboration and stakeholders working together to support energy transition," said Omar Saif, senior vice-president and chief operating officer, Gibson Energy.

Capstone celebrated the milestone today at a ribbon-cutting event at Buffalo Atlee 4 with local officials from Special Areas No. 2, representatives from Gibson Energy and other project stakeholders. In recognition of the environmental and electricity system benefits, Natural Resources Canada provided federal support through the Smart Renewables and Electrification Pathways Program.

"The government of Canada is delivering affordable and reliable power to Albertans, while advancing boldly toward a sustainable and prosperous future. Clean electricity projects like Buffalo Atlee's wind farms are not only a critical part of Canada's energy future; they also represent economic opportunities for local communities. I am pleased to celebrate the opening of this exciting project that marks a partnership between the federal government, Capstone Infrastructure and the Sawridge First Nation," said Jonathan Wilkinson, Minister of Natural Resources Canada.

About Capstone Infrastructure Corp.

Capstone is generating our low-carbon future, driving the energy transition forward through creative thinking, strong partnerships and a commitment to quality and integrity in how it does business. A developer, owner and operator of clean and renewable energy projects across North America, Capstone's portfolio includes 885 MW gross installed capacity across 35 facilities, including wind, solar, hydro, biomass and natural gas power plants.

About Sawridge First Nation

The Sawridge First Nation is located at the east end of the Lesser Slave Lake in Alberta near the town of Slave Lake and is an original signatory to Treaty No. 8 (signed June 21, 1899). The Sawridge First Nation is a self-determining, innovative, progressive and prosperous nation of Cree people who continue to govern in a harmonious and balanced way, inclusive of all members, valuing relationships, customs and traditions, with honour and respect for its culture and the environment, continuing for future generations.

About Gibson Energy

Gibson is a leading liquids infrastructure company with its principal businesses consisting of the storage, optimization, processing and gathering of liquids and refined products. Headquartered in Calgary, the company's operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alta., Ingleside, Tex., and including a facility in Moose Jaw, Sask.

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