EPCOR Announces Quarterly Results and Release of 2025 Sustainability Performance Update

Press Release

April 30, 2026

Edmonton, AB – EPCOR Utilities Inc. (EPCOR) today filed its quarterly results for the period ended March 31, 2026.

“First quarter financial and operational performance was in line with expectations, with utility operations across our footprint delivering strong reliability performance,” said John Elford, EPCOR President and CEO. “EPCOR continues to be on a sustained growth trajectory, driven by ongoing investments to replace aging infrastructure, customer growth in our existing operating communities, and a pipeline of commercial development opportunities. In March 2026, we received regulatory approval for our City of Edmonton Transmission Reinforcement project – a key investment that will strengthen electricity system capacity and help meet growing electricity demand in Edmonton.”

“Today marks the release of EPCOR’s 2025 Sustainability Performance Update,” added Mr. Elford. “In 2025 EPCOR delivered strong operational performance and advanced our sustainability priorities, including reaching our target of reducing net Scope 1 and 2 greenhouse gas emissions by 50 per cent from our 2020 baseline. The EPCOR team delivered record safety performance and strengthened our Indigenous Relations commitments, exceeding our certification target with the Canadian Council for Indigenous Business. We also continued to invest in the resilience of our infrastructure, so the essential services people rely on remain strong and dependable.”

“This May we are celebrating thirty years since the City of Edmonton combined its power and water utilities, and certain other services, into a corporation with independent governance – EPCOR. Backed by a strong and enduring governance model, EPCOR has grown to become a trusted and valued provider of clean water and safe, reliable energy to customers across North America, and generated more than $4 billion in dividends for its Shareholder, the City of Edmonton. Driven by our purpose and guided by our values, the 3,700 members of Team EPCOR continue to build on these achievements every day.”

Highlights of EPCOR’s financial performance are as follows:

• Net income was $108 million for the three months ended March 31, 2026, compared with net income of $103 million for the comparative period in 2025. The increase of $5 million was primarily due to higher Adjusted EBITDA¹ and fair value adjustments related to financial electricity purchase contracts, partially offset by higher depreciation, lower transmission system access service charge net collections and higher finance expenses.
• Adjusted EBITDA¹ was $303 million for the three months ended March 31, 2026, compared with $289 million for the comparative period in 2025. The increase of $14 million was primarily due to higher rates, consumption per customer, customer growth, finance lease income and lower staff costs, partially offset by lower Samsung construction activity and energy sales margins.
• Investment in capital projects was $291 million for the three months ended March 31, 2026, compared with $194 million for the corresponding period in 2025.

Management’s discussion and analysis and the audited consolidated financial statements are available on our website and SEDAR+opens in a new tab.

EPCOR builds, owns and operates water, electrical, natural gas transmission and distribution networks, water and wastewater treatment facilities, sanitary and stormwater systems in North America. EPCOR also provides water, electricity and natural gas products and services to residential and commercial customers. EPCOR, headquartered in Edmonton, is committed to conducting its business and operations safely and responsibly. Environmental stewardship, public health and community well-being are at the heart of EPCOR’s mission to provide clean water and safe, reliable energy.

1. Adjusted EBITDA is a non-GAAP financial measure. See the Non-GAAP Financial Measures section in Appendix 1 to this media release.

For more information, please contact:

Media Relations
Laura Ehrkamp
Phone: 780-721-9001opens in a new tab
Email: epcormedia@epcor.comopens in a new tab

Corporate Relations
Matt Lemay
Phone: 780-412-3711opens in a new tab
Toll Free: 1-877-969-8280opens in a new tab
Email: mlemay@epcor.com

IBF4