May 03, 2024

Capital Power reports voting results from the 2024 annual meeting of shareholders

EDMONTON, Alberta – The annual meeting of shareholders (“annual meeting”) for Capital Power Corporation (TSX: CPX) (“Capital Power” or “the Company”) was held on April 30, 2024 in Edmonton, Alberta. Each of the matters voted upon at the annual meeting is discussed in detail in the Company’s Management Proxy Circular dated March 11, 2024 and available on the Company’s website at:

The total number of shares represented by shareholders present in person and by proxy at the annual meeting was 56,762,324 representing 43.96% of the Company’s common shares that were issued and outstanding as of the record date of the annual meeting.

The voting results for each matter presented at the annual meeting are provided below:

1. Election of Directors:

Each of the 9 director nominees put forward by management were elected by a vote conducted by way of ballot as follows:

Director Votes in Favour % In Favour Votes Against % Against
Jill Gardiner 56,217,658 99.29% 403,724 0.71%
Gary Bosgoed 55,031,257 97.19% 1,590,125 2.81%
Avik Dey 56,448,006 99.69% 173,376 0.31%
Carolyn Graham 56,469,899 99.73% 151,483 0.27%
Kelly Huntington 54,894,375 96.95% 1,727,007 3.05%
Barry Perry 55,090,268 97.30% 1,531,114 2.70%
Jane Peverett 54,926,889 97.01% 1,694,493 2.99%
Robert Phillips 56,417,282 99.64% 204,100 0.36%
Keith Trent 56,388,013 99.59% 233,369 0.41%

2. Appointment of Auditors:

The appointment of KPMG LLP, Chartered Accountants, to serve as the auditors of the Corporation until the close of the next Annual Meeting of the Shareholders of the Corporation, at remuneration to be fixed by the Directors on the recommendation of the Audit Committee, was approved by a show of hands. Proxies representing 56,571,724 (99.66%) votes for and 190,598 (0.34%) votes withheld were received.

3. Approach to Executive Compensation:

On an advisory basis and not to diminish the role and responsibility of the board of directors, the approach to executive compensation disclosed in the Corporation’s Management Proxy Circular was approved by a show of hands. Proxies representing 55,387,163 (97.82%) votes for and 1,234,217 (2.18%) votes against were received.

4. Amendment of Compensation Plan:

The amendment of the Omnibus Long Term Incentive Plan (“the Plan”) to increase the aggregate number of common which may be issued under the Plan from 9,194,506 to 11,194,506 common shares, was authorized and approved as an ordinary resolution by a show of hands. Proxies representing 54,699,224 (96.61%) votes for and 1,922,156 (3.39%) votes against were received.

Territorial Acknowledgement

In the spirit of reconciliation, Capital Power respectfully acknowledges that we operate within the ancestral homelands, traditional and treaty territories of the Indigenous Peoples of Turtle Island, or North America. Capital Power’s head office is located within the traditional and contemporary home of many Indigenous Peoples of the Treaty 6 region and Métis Nation of Alberta Region 4. We acknowledge the diverse Indigenous communities that are located in these areas and whose presence continues to enrich the community.

About Capital Power

Capital Power is a growth-oriented power producer committed to net zero by 2045, with approximately 9,300 MW of power generation at 32 facilities across North America.

We prioritize delivering reliable, affordable and decarbonized power that communities can depend on, building decarbonized power systems needed for tomorrow, and creating real net zero solutions for customers. We are powering change by changing power.