An anonymous director reports

POLARIS MODIFIES QUORUM REQUIREMENT FOR UPCOMING AGM

Polaris Renewable Energy Inc.'s board of directors has approved an amendment to the corporation's bylaw to modify the quorum requirement for shareholder meetings.

The amendment will apply to the annual meeting of shareholders to be held on June 26, 2026 at 9 a.m. Toronto time.

Under the corporation's bylaws, quorum for shareholder meetings previously required the presence, in person or by proxy, of holders of a majority of the outstanding shares entitled to vote at the meeting. The amended bylaw provides that a quorum will consist of one person present, in person or represented by proxy, holding or representing not less than 45 per cent of the outstanding shares of the company entitled to vote at the meeting. The amendment does not change the level of shareholder approval required to approve any matter at the meeting.

The amendment is effective as of the date of approval by the board and applies solely to the meeting. The company does not intend to submit the amendment to shareholders for confirmation, and accordingly the amendment will cease to be effective in accordance with applicable corporate law following the conclusion of the meeting. The amendment is a procedural adjustment made solely in connection with the meeting.

The annual meeting was originally scheduled for June 18, 2026, and was postponed to provide additional time for shareholders to vote their shares and to reduce the likelihood that the meeting would be delayed due to insufficient quorum.

At the meeting, shareholders will be asked to vote on the election of directors and the reappointment of the corporation's auditors.

The corporation's management information circular dated May 15, 2026, previously distributed to shareholders, provides detailed information regarding the meeting and the matters to be considered thereat.

About Polaris Renewable Energy Inc.

Polaris Renewable Energy is engaged in the acquisition, development and operation of renewable energy projects in Latin America and the Caribbean. It is a high-performing and financially sound contributor to the energy transition.