Mr. Stefano Romanin reports

WESTBRIDGE ANNOUNCES DEFINITIVE AGREEMENT FOR THE SALE OF RED WILLOW SOLAR PROJECT AND HIGHLIGHTS IMPROVING MARKET FUNDAMENTALS IN ALBERTA AND GROWING AI-DRIVEN DEMAND ACROSS NORTH AMERICA

Westbridge Renewable Energy Corp.'s Westbridge Renewable Energy SA has entered into a definitive share purchase agreement dated Aug. 27, 2026, for the sale of its Red Willow solar-plus-storage project in Alberta, through the sale of all of the issued and outstanding shares of its wholly owned subsidiary, Red Willow Solar Inc.

Summary of key terms

Red Willow is an advanced-stage, utility-scale solar-plus-storage project comprising a solar power plant of up to 225 megawatt alternating current and a proposed 100-megawatt battery energy storage system, located in Stettler county No. 6 in central Alberta. The project's power plant and battery energy storage system have received power plant and substation approvals from the Alberta Utilities Commission, and the project holds an interconnection position in the Alberta Electric System Operator process.

Under the terms of the agreement, Westbridge will receive an upfront cash payment at closing, together with additional milestone payments. The total receivables should reach $26,725,000 if all the conditions in the agreement are met, comprising the following milestone payments:

• At closing, $10.5-million in cash, plus reimbursement or replacement of the GUOC amount equal to $4,725,000;
• $4.5-million payable on the commercial operation date of the battery energy storage system; and
• An additional payment equal to $25,000 per megawatt direct current payable on the commercial operation date of the solar photovoltaic system, currently estimated at approximately $7-million.

The transaction is subject to customary closing conditions, including regulatory approvals and other conditions precedent. No finders' fees are payable in connection with the transaction, and the transaction is an arm's-length transaction.

The transaction represents another significant milestone in Westbridge's strategy of originating, developing and derisking high-quality renewable energy and energy storage infrastructure projects while maintaining a diversified development pipeline across North America and Europe.

Stefano Romanin, chief executive officer of Westbridge, commented: "The sale of Red Willow represents another important validation of Westbridge's development and monetization strategy. Since establishing our Alberta platform, we have focused on citing projects in favourable locations with strong renewable resources, transmission access and long-term strategic value. Red Willow is an excellent example of that approach, and this transaction demonstrates continued demand for well-positioned renewable energy and energy storage assets. We remain focused on creating value by developing high-quality projects across our international portfolio."

Improving fundamentals and greater certainty for Alberta's renewable energy market under the Canada-Alberta technology innovation and emissions reduction agreement

On May 15, 2026, Canada and Alberta finalized an implementation agreement establishing a long-term trajectory for Alberta's technology innovation and emissions reduction system through 2040. The framework maintains a carbon price of $95 per tonne in 2026, rising to $100 per tonne in 2027, $130 per tonne by 2035 and $140 per tonne by 2040. It also introduces a regulated minimum price for carbon credits beginning at $60 per tonne in 2030 and increasing to $110 per tonne by 2040.

Potential electricity demand from large loads and data centres

At the same time, prospective large-load transmission service requests reported by the AESO have exceeded 16 gigawatts, compared with Alberta's current system peak of approximately 12 gigawatts. If this prospective demand is ultimately developed and connected, it could contribute to firmer electricity prices and improve the economics of new generation in the province. Solar generation paired with battery storage may have a role in supplying this additional demand alongside firm generation sources. Actual outcomes will depend on regulatory decisions, connection capacity, and the timing and scale of the proposed developments.

Westbridge's Alberta advantage

Westbridge is an active independent developer of utility-scale solar and battery energy storage in Alberta, with an advanced-stage portfolio in the province. Highlights include:

• Dolcy solar and energy storage -- up to 300 MWac of solar paired with up to 100 MW of battery storage, approved by the Alberta Utilities Commission;
• Red Willow solar and storage -- up to 225 MWac of solar paired with up to 100 MW of battery storage, approved by the Alberta Utilities Commission;
• Eastervale solar -- up to 300 MWdc of solar, with its application submitted to the Alberta Utilities Commission and the regulatory process under way;
• 350 MWac of new stand-alone battery energy storage projects -- adding more than 700 megawatt-hours of capacity, each with site control, environmental feasibility work completed and interconnection applications confirmed in the AESO cluster process.

With approved and interconnection-stage solar and storage assets in the province, Westbridge believes it is well positioned to respond when PPA demand returns, offering competitively priced, clean electricity.

The artificial intelligence infrastructure boom is reshaping U.S. power demand

The rapid expansion of AI computing has made electricity a central constraint on how quickly the sector can grow. Renewables and solar paired with battery storage in particular are increasingly central to how AI infrastructure is powered. This shift is already visible in the market. Over the past year, hyperscalers have signed a series of large solar and battery storage power purchase agreements, particularly in Texas, converting AI-driven demand into contracted offtake for new renewable projects. Publicly reported examples include:

• Google: a 15-year, 500 MW PPA with Linea Energy for the Duffy solar project in Matagorda county, Texas, pairing approximately 490 MW of solar with a 235 MW/470 MWh battery energy storage system;
• Google: two 15-year PPAs with TotalEnergies for approximately one GW of new Texas solar capacity (the 805 MW Wichita and 195 MW Mustang Creek projects), with associated battery storage;
• Meta: an approximately 600 MW solar project (Clear Fork, developed with Enbridge) supplying its Texas data centres, alongside additional Texas solar contracted under a broader agreement;
• Developer-led solar-plus-storage campuses aimed at data centre load, such as AES's approximately 2,000 MW Bellefield solar-and-storage project in California.

Westbridge's U.S. positioning

This demand is being met by a rapid acceleration in U.S. renewable deployment. The U.S. Energy Information Administration forecasts that 2026 will be a record year for new electricity capacity, with solar and battery storage the primary drivers. Approximately 86 GW of new utility-scale generating capacity is expected to be added in 2026, the largest single-year increase since 2002. Solar is projected to lead with a record of approximately 43 GW, up roughly 60 per cent year over year. Battery energy storage is projected to reach a record of approximately 24 GW while wind is expected to more than double to approximately 12 GW.

Solar and battery storage, the core technologies in Westbridge's development portfolio, support this buildout, reflecting their competitive cost and their ability to deliver the firm, round-the-clock power that AI and data centre loads require. These figures are EIA forecasts and remain subject to change.

In the United States, the company holds a strategic development portfolio, including:

• Solar plus storage, and solar, projects in Texas (Accalia) and Louisiana (Southern Prairie, Delphine);
• Data centre development projects, including the Fontus data centre and Aster data centre project, reflecting Westbridge's integrated approach to pairing power generation, storage and compute-ready sites.

This positions Westbridge as a developer, in the clean power infrastructure the U.S. AI buildout requires.

Spotlight: Southern Prairie, Louisiana

Among the company's U.S. projects is Southern Prairie, a 200 MWac solar photovoltaic project paired with a 55 MW battery energy storage system in Calcasieu parish, La. The project has secured site control, completed initial environmental studies and selected a point of interconnection. Southern Prairie is located in Louisiana, a state experiencing significant growth in industrial, manufacturing and data-centre-related electricity demand, positioning the type of low-carbon capacity the company develops in proximity to new demand.

Mr. Romanin, chief executive officer of Westbridge, commented: "The defining constraint on AI is increasingly power, and the fastest way to add generation capacity in many U.S. markets is utility-scale solar paired with storage. We have spent years building a development portfolio across the United States, including in states where data centre demand is growing quickly, and we believe that positions us to help supply the clean, reliable power this buildout needs. Southern Prairie is one example of the kind of project we develop in strategic locations."

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