Boralex Obtains Final Court Approval of the Arrangement with Brookfield and La Caisse

MONTRÉAL, June 05, 2026 (GLOBE NEWSWIRE) — Boralex Inc. (“Boralex” or the “Corporation“) (TSX: BLX) announced today that the Corporation has obtained a final order from the Superior Court of Québec (Commercial Division) approving the previously-announced plan of arrangement under section 192 of the Canada Business Corporations Act (the “Arrangement“) involving the Corporation and BIF Thunder Holdings Inc., a newly-formed entity to be jointly owned by Brookfield Infrastructure Fund V and/or its affiliates (collectively, “Brookfield“) and Caisse de dépôt et placement du Québec. This final court approval follows the shareholder approval that was obtained at the annual and special meeting of the Corporation’s shareholders held on Thursday, June 4, 2026.

The completion of the Arrangement remains subject to the satisfaction of customary closing conditions for a transaction of this nature, including the receipt of key regulatory approvals. Assuming that these remaining conditions to closing are satisfied, the Arrangement is expected to be completed by the fourth quarter of 2026.

Further details regarding the Arrangement are provided in the management information circular of the Corporation dated May 1, 2026, a copy of which is available under the Corporation’s profile on SEDAR+ at www.sedarplus.ca.

About Boralex

At Boralex, we have 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, we also have facilities in the United States and in the United Kingdom. Over the past five years, our installed capacity has increased by more than 50%, reaching 3,783 MW as at December 31, 2025. We are developing a portfolio of projects in development and construction of 8.2 GW in wind, solar and BESS projects, guided by our values and our 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 our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

For more information, visit boralex.com or sedarplus.com. Follow us on Facebook and LinkedIn.

Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of relevant securities legislation, including applicable securities laws in Canada (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature and depend upon or refer to future results, events or conditions. The estimates, beliefs and assumptions of Boralex are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions.

In particular, statements regarding the Arrangement, including the expected timing of completion of the Arrangement, the remaining regulatory approvals to be obtained and closing conditions to be satisfied and other statements in respect of the Arrangement, are forward-looking statements. Forward-looking statements and information are based on Boralex’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. Such forward-looking statements and information are subject to risks and uncertainties and assumptions relating to its operations, financial results, financial condition, business prospects, growth strategy and liquidity.

Forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the control of Boralex, that could cause actual results to differ materially from those disclosed or implied by such forward-looking statements. Risks and uncertainties related to the Arrangement include, but are not limited to: the possibility that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required regulatory approvals and other conditions to the closing of the Arrangement or for other reasons; the negative impact that the failure to complete the Arrangement for any reason could have on the price of Boralex’s securities or on its business; the failure to realize the expected benefits of the Arrangement; the restrictions imposed on Boralex while the Arrangement is pending; the business of Boralex may experience significant disruptions due to Arrangement-related uncertainty, industry conditions or other factors; risks relating to employee retention; the risk of regulatory changes that may materially impact the business or the operations of Boralex; the risk that legal proceedings may be instituted against Brookfield or Boralex; significant transaction costs or unknown liabilities; and risks related to the diversion of management’s attention from Boralex’s ongoing business operations while the Arrangement is pending; and other risks and uncertainties affecting Boralex, including those considered in the sections dealing with risk factors and uncertainties appearing in Boralex’s MD&A for the fiscal year ended December 31, 2025 and in Boralex’s MD&A for the three-month period ended March 31, 2026.

Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this press release. Except as required by law, Boralex undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, as a result of new information, future events or otherwise.

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