AltaLink Takes Action to Reduce Wildfire Risk

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Company initiates public safety power shutoff for first time in its history during second quarter of 2026

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CALGARY, Alberta — AltaLink is committed to reducing the likelihood of its transmission system igniting a catastrophic wildfire. During the second quarter of 2026, for the first time in AltaLink’s history, AltaLink initiated its public safety power shutoff (PSPS) program during extreme weather conditions in the MD of Provost to reduce the risk of its assets igniting a wildfire.

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On May 3, 2026, extreme weather conditions prompted the proactive de-energization of two transmission lines to reduce the risk of wildfire ignition posed by dry, cured grass and high winds. Fortunately, the PSPS didn’t require a power outage to customers.

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“We understand how important electricity is to everyone’s lives and this is a last resort response after all other options have been exhausted,” said Paul Lee, AltaLink President. “We don’t make the decision to proactively de-energize transmission lines lightly. However, we’ve all seen how the impacts of a wildfire can be devastating.”

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When wildfire conditions are extreme, AltaLink will proactively de-energize transmission lines as part of a PSPS to prevent the transmission system from potentially causing a spark that could start a wildfire. That may mean a power outage for communities until it is safe to re-energize the transmission line.

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“Every situation is different. Before de-energizing a transmission line, we consider weather conditions, including heat, wind and humidity, and ground conditions including the availability of fuel,” said Mr. Lee. “We leverage daily fire hazard reports, advanced weather stations, cameras and on-the-ground resources to continually monitor, review and verify these conditions near our transmission lines.”

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In 2019, AltaLink established its wildfire mitigation program to reduce the likelihood that the transmission system would contribute to the ignition of a wildfire. Since then, the company has strengthened infrastructure, improved vegetation management programs, increased the frequency of inspections, and enhanced situational awareness of high-risk wildfire conditions in its service territory, all measures noted in the Government of Alberta’s Wildfire Mitigation Strategy. AltaLink engages with stakeholders throughout its service territory to share information about all aspects of its wildfire mitigation program, including the process in the event that a PSPS is triggered.

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In addition to these efforts, AltaLink, along with ATCO Energy Systems and FortisAlberta, the owners and operators of the electric transmission and distribution networks in Alberta’s highest-risk areas have formed the Alberta Wildfire Utility Coalition. The Wildfire Utility Coalition is aligning efforts to reduce wildfire risk and strengthen system resilience.

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AltaLink announces the retirement of its Chief Financial Officer

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AltaLink today announced the retirement of David Koch, Executive Vice President and Chief Financial Officer, effective July 30, 2026.

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“During his more than 10 years with AltaLink, Dave has made a valuable contribution to our company and our customers,” said Paul Lee, AltaLink President. “His financial leadership has positioned AltaLink for continued solid performance and, on behalf of the AltaLink Board of Directors and senior leadership team, I want to thank Dave and wish him well in his future endeavours.”

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A search is currently underway to replace Mr. Koch. Sarah Oldfield, AltaLink’s Vice President Controller, will act as interim Chief Financial Officer until a replacement is named. Ms. Oldfield joined AltaLink in 2010, and has progressed through leadership roles in financial reporting, capital accounting and project support before assuming AltaLink’s VP, Controller role earlier in 2026.

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AltaLink announces 2026 second quarter financial results

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Today, AltaLink, L.P. announced net and comprehensive income of $74.2 million for the three months ended June 30, 2026, compared to $82.6 million for the same quarter in 2025, a decrease of $8.4 million. This change is primarily driven by regulatory outcomes related to the denial of recovery of certain 2024–2025 wildfire mitigation capital investments.

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For the three months ended June 30, 2026, our revenue from operations was $246.9 million, an increase of $0.4 million compared to the same period in 2025. This change is primarily due to higher equity returns on rate base in 2026 due to a higher approved return on equity of 9.02% in 2026 versus 8.97% in 2025 and higher recovery of other allowable costs of transmission services.

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As a partnership, AltaLink, L.P. reports its net income before income taxes; therefore, its results are not directly comparable with net income reported by corporations that recognize income taxes in their financial statements.

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AltaLink’s full financial results and management’s discussion and analysis can be found on AltaLink’s website at www.altalink.ca or on SEDAR+ at www.sedarplus.ca.

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Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider, with approximately 13,400 kilometres of transmission lines and more than 310 substations. AltaLink is partnering with its customers to provide innovative solutions to meet the province’s demand for reliable and affordable energy.