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

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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.

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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.

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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.

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About
Boralex

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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.

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Forward-Looking Statements

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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.

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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.