Boralex Launches Normal Course Issuer Bid

Core Viewpoint - Boralex Inc. has announced a normal course issuer bid (NCIB) to repurchase up to 8,669,245 Class A shares, representing approximately 10% of the public float, to optimize fund usage and create long-term value for shareholders [1][4]. Group 1: NCIB Details - The NCIB will commence on March 4, 2025, and end no later than March 3, 2026, with a total of 102,766,580 Common Shares outstanding as of February 19, 2025 [1]. - Boralex is permitted to purchase a maximum of 72,088 Common Shares daily, which is 25% of the average daily trading volume of 288,355 Common Shares over the six-month period ending January 31, 2025 [2]. - The shares will be acquired at the prevailing market price, with any purchases under an exemption order being at a discount [1]. Group 2: Automatic Share Purchase Plan (ASPP) - Boralex will implement an automatic share purchase plan (ASPP) to facilitate share repurchases during periods when the company cannot buy its securities due to regulatory restrictions [3]. - The designated broker will make purchases based on pre-set parameters without further instructions from Boralex during blackout periods [3]. Group 3: Strategic Rationale - The company believes its shares are undervalued and the NCIB will enhance shareholder value by increasing equity interest for remaining shareholders when repurchased shares are canceled [4]. - The decision on the timing and size of purchases will depend on various factors, including capital positions, financial performance, and market conditions [5]. Group 4: Company Overview - Boralex is a leader in renewable energy, particularly in onshore wind power, with over 3.1 GW of installed capacity and a project portfolio exceeding 8 GW in development [7]. - The company has been active in the renewable energy sector for over 30 years and is committed to sustainable growth and corporate social responsibility [7].