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Innergex Provides an Update on its Dividend Reinvestment Plan

Press Release

LONGUEUIL, Quebec, March 21, 2024 –Innergex Renewable Energy Inc. (TSX: INE) (“Innergex” or the “Corporation”) provides today an update on its Dividend Reinvestment Plan (the ‘’Plan’’).

Under the Plan, Innergex has the discretion to either purchase the additional common shares in the open

market or issue them from treasury. For the April 15, 2024 dividend and for future dividends declared until further notice, Innergex has decided to purchase common shares in the secondary market at the average price (excluding any brokerage commissions, fees and service charges) per common share paid by the agent for all common shares acquired in respect of an investment period being the Market Purchase Price (as defined in the Plan).

About Innergex Renewable Energy Inc.

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizen in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world. Innergex conducts operations in Canada, the United States, France and Chile and manages a large portfolio of high-quality assets currently consisting of interests in 87 operating facilities with an aggregate net installed capacity of 3,600 MW (gross 4,234 MW) and an energy storage capacity of 409 MWh, including 41 hydroelectric facilities, 35 wind facilities, 9 solar facilities and 2 battery energy storage facilities. Innergex also holds interests in 10 projects under development with a net installed capacity of 728 MW (gross 826 MW) and an energy storage capacity of 295 MWh, 4 of which are under construction, as well as prospective projects at different stages of development with an aggregate gross installed capacity totaling 10,071 MW. Its approach to building shareholder value is to generate sustainable cash flows and provide an attractive risk-adjusted return on invested capital.

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For information

Karine Vachon
Senior Director – Communications and ESG
+1 438 887-0912

Naji Baydoun
Director – Investor Relations
+1 438 871-7067



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