Mr. Patrick Decostre reports

BORALEX COMMISSIONS SANJGON ENERGY STORAGE PROJECT, INITIALLY TILBURY, ITS FIRST OPERATIONAL STORAGE FACILITY IN NORTH AMERICA

Boralex Inc., in partnership with Walpole Island First Nation, has commercially commissioned the Sanjgon battery energy storage, Boralex's first energy storage facility in operation in North America. Located in the municipality of Lakeshore, Ont., the 80-megawatt/320-megawatt-hour facility marks a major milestone in Boralex's 2030 strategy and its expansion into large-scale storage solutions.

Through a joint approach with Walpole Island First Nation, the Tilbury battery storage project was renamed as the Sanjgon battery energy storage. The term Sanjgon, derived from the Nishnaabemwin language, evokes the traditional storage practices used by the nation's families.

Developed in close collaboration with Walpole Island First Nation, the facility reflects Boralex's commitment to respectful, long-term partnerships with indigenous and local communities. A community benefit agreement with the Municipality of Lakeshore will provide $1,000 per megawatt annually for the life of the project to support local initiatives.

The commissioning of this site stands as a symbol of Boralex's commitment to delivering high-value projects for the company's shareholders. With Sanjgon now operational and the Hagersville battery energy storage park scheduled for commissioning in the coming weeks, Boralex will reach 380 megawatts of installed storage capacity in Canada -- making it the largest battery storage operator in the country. Additional storage projects are under development, including the Oxford project, which is expected to begin construction shortly.

Highlights:

• First of its kind: Sanjgon is Boralex's first operational energy storage facility in North America;
• Community partnerships:
  • Developed in collaboration with Walpole Island First Nation;
  • Supported by the Municipality of Lakeshore through a community benefit agreement;
• Innovative technology:
  • Installed capacity of 80 megawatts/320 megawatt-hours, enabling four hours of continuous full-power delivery to the grid;
  • 89 Tesla Megapack 2XL units -- fully integrated, utility-scale lithium-ion battery systems;
• Ontario grid stabilization and reliability:
  • Sanjgon was selected through the Independent Electricity System Operator's (IESO) expedited long-term request for proposals;
  • The project directly supports Ontario's Resource Adequacy Framework, helping meet growing electricity capacity needs while enhancing grid reliability and resilience.

Quotes

"We are pleased to reach this major milestone for the Sanjgon battery energy storage facility and our community. The Sanjgon battery energy storage facility marks a significant step toward a cleaner, more reliable energy future. Walpole Island First Nation values this partnership with Boralex, working together to advance sustainable solutions that benefit our communities for generations to come," stated Leela Thomas, Chief of Walpole Island First Nation.

"The Independent Electricity System Operator's competitive procurements continue to deliver cost-effective projects that will help keep Ontario's grid reliable and affordable. The Sanjgon battery energy storage project is an example of how we are working with indigenous communities, municipalities, private industry and government to build out the province's electricity system and support Ontario's economic growth," stated Lesley Gallinger, president and chief executive officer of Independent Electricity System Operator.

"The Sanjgon battery energy storage facility exemplifies Ontario's commitment to innovation and energy reliability. This project strengthens our grid, supports economic growth and reflects the collaborative spirit that drives progress in our region," stated Trevor Jones, MPP for Chatham-Kent-Leamington and Minister of Agriculture, Food and Agribusiness.

"Hosting the Sanjgon battery energy storage facility is a source of pride for Lakeshore. Our communities are proud to play a role in advancing Ontario's clean energy future. Projects like this one strengthen our energy infrastructure and deliver long-term benefits for Lakeshore residents and businesses," stated Tracey Bailey, Mayor of the Municipality of Lakeshore.

"The commissioning of the Sanjgon battery energy storage park marks a pivotal moment in our journey toward a more flexible, resilient and affordable energy system. It's a concrete step forward in delivering on our 2030 strategy and create durable value for our shareholders, expanding our presence in storage, and reinforcing our commitment to innovation and community partnerships," stated Patrick Decostre, president and chief executive officer of Boralex.

"Sanjgon is a clear demonstration of our ability to deliver high-impact, community-rooted infrastructure. I want to acknowledge the dedication of our teams and the strength of our collaboration with Walpole Island First Nation and the Municipality of Lakeshore. Together, we've laid the foundation for a new chapter in Ontario's renewable energy future -- one built on trust, innovation and shared ambition and designed to make renewable energy more accessible and affordable for all," stated Robin Deveaux, executive vice-president and general manager, North America, Boralex.

About Boralex Inc.

At Boralex, the company has been providing affordable renewable energy accessible to everyone for over 35 years. As a leader in the Canadian market and France's largest independent producer of onshore wind power, Boralex also has facilities in the United States and development projects in the United Kingdom. Over the past five years, Boralex's installed capacity has increased by more than 50 per cent, reaching 3,303 megawatts as at Sept. 30, 2025. Since then, the corporation has commissioned a new wind farm with a capacity of 100 megawatts, bringing total installed capacity to 3,403 megawattsas of today. Boralex is developing a portfolio of projects in development and construction of eight gigawatts in wind, solar and storage projects, guided by the company's values and its corporate social responsibility (CSR) approach. Recognized as Best Corporate Citizen in Canada by Corporate Knights, Boralex is actively participating in the fight against global warming. Thanks to the company's fearlessness, its discipline, its expertise and its diversity, Boralex continues to be an industry leader. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

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