H2O Innovation Announces Meeting Updates

Press Release

Québec City, October 20, 2023 (TSX: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) has announced the meeting and record dates for the special meeting of shareholders (the “Acquisition Meeting”) to be held in connection with the acquisition by Ember SPV I Purchaser Inc., an entity controlled by funds managed by Ember Infrastructure Management, LP, a New York-based private equity firm, of all of the issued and outstanding common shares in the capital of the Corporation (the “Shares”), other than the Shares to be rolled over by Investissement Québec, Caisse de dépôt et placement du Québec and certain key executives of the Corporation, pursuant to a statutory plan of arrangement (the “Arrangement”) in accordance with the Canada Business Corporations Act. The Corporation intends to hold the Acquisition Meeting to consider the Arrangement on November 28, 2023. The record date for the Acquisition Meeting will be October 24, 2023. The Corporation’s Board of Directors has unanimously recommended that its shareholders vote FOR the special resolution approving the Arrangement.

The Corporation announced today that it is postponing until December 22, 2023 its annual meeting of shareholders previously scheduled to be held on December 5, 2023 (the “Annual Meeting”). The record date of October 26, 2023 for the Annual Meeting will remain the same, and meeting materials will be sent to shareholders of record in due course. The Corporation believes that the postponement is in the best interests of the Corporation as it will allow management to focus its efforts on preparing for the Acquisition Meeting, the completion of the Arrangement and completing its customary financial reporting.

The Arrangement remains subject to shareholder and court approvals and the satisfaction of other customary closing conditions.

About H2O Innovation

Innovation is in our name, and it is what drives the organization. H2O Innovation is a complete water solutions company focused on providing best-in-class technologies and services to its customers. The Corporation’s activities rely on three pillars: i) Water Technologies & Services (WTS) applies membrane technologies and engineering expertise to deliver equipment and services to municipal and industrial water, wastewater, and water reuse customers, ii) Specialty Products (SP) is a set of businesses that manufacture and supply a complete line of specialty chemicals, consumables and engineered products for the global water treatment industry, and iii) Operation & Maintenance (O&M) provides contract operations and associated services for water and wastewater treatment systems. Through innovation, we strive to simplify water. For more information, visit www.h2oinnovation.com.

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Source:

H2O Innovation Inc.
www.h2oinnovation.com

Contact:

Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com

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