Boralex commissions 300 MW battery storage facility

Mr. Patrick Decostre reports BORALEX AND SIX NATIONS OF THE GRAND RIVER DEVELOPMENT CORPORATION COMMISSION CANADA'S LARGEST OPERATING BATTERY STORAGE FACILITY Boralex Inc. and Six Nations of the Grand River Development Corp. (SNGRDC) have commercially commissioned the Hagersville battery energy storage park, the largest operating battery energy storage facility in Canada. With a capacity of 300 megawatts/1,200 megawatt-hours, the landmark project represents a significant milestone in Ontario's energy transition and positions SNGRDC and Boralex as leaders in large-scale storage solutions. Co-developed by SNGRDC and Boralex, who have a long history of successful partnerships in renewable energy developments, the Hagersville project was recently recognized as the "Innovative Clean Energy Project of the Year" by the Canadian Renewable Energy Association (CanREA), underscoring its impact and excellence in advancing energy infrastructure. Throughout this project, Boralex and SNGRDC prioritized opportunities to involve local Six Nations labourers. In collaboration with construction partner Borea, A6N General Partnerships, which is majority owned by SNGRDC in partnership with Aecon, was brought in to deliver key civil works on site -- further strengthening local participation and economic benefits within the community. Highlights Key players in the industry: Hagersville is Canada's largest operational battery energy storage facility, bringing Boralex's total installed storage capacity to 380 MW/1,520 MWh and SNGRDC's total installed storage capacity to 550 MW/2,200 MWh. The project was recently recognized as the Innovative Clean Energy Project of the Year by the Canadian Renewable Energy Association (CanREA), recognizing Boralex and SNGRDC as key players in delivering impactful, industry-leading solutions. Community partnerships: Co-developed with Six Nations of the Grand River Development; Supporting Haldimand county through a community benefit agreement. Innovative technology: Installed capacity of 300 MW/1,200 MWh, enabling up to four hours of continuous full-power delivery to the grid; 334 Tesla Megapack 2XL units -- fully integrated, utility-scale lithium-ion battery systems. Ontario grid stabilization and reliability: As a large-scale storage site, Hagersville plays a critical role in stabilizing the grid and maximizing renewable energy integration, by allowing flexibility to match intermittent renewables with the required demand; Hagersville helps meet the energy capacity needs identified by Ontario's Independent Electricity System Operator (IESO) and strengthens overall system reliability. The commissioning of the site underscores SNGRDC and Boralex's commitment to delivering long-term value for all stakeholders, from local communities to shareholders, through innovative energy storage solutions. By stabilizing the grid and enabling greater integration of renewable energy, SNGRDC and Boralex are addressing critical system needs while driving sustainable growth. With the commissioning of Hagersville and the recently launched Sanjgon battery energy storage, Boralex's total operational storage capacity now reaches 380 MW/1,520 MWh, making Boralex Canada's largest battery storage operator. The Hagersville project represents SNGRDC's second battery energy storage facility to reach commercial operation, with an additional four projects currently under development. With a total of one gigawatt of storage capacity, SNGRDC is the largest indigenous holder of battery storage assets in North America. Additional storage projects are under development in partnership with SNGRDC and Boralex, including the 125 MW/500 MWh Oxford project, which is expected to begin construction shortly. An official inauguration event is planned for spring 2026, which will bring together community members, indigenous partners, political leaders and media to celebrate the historic and symbolic significance of this achievement. Quotes "SNGRDC is pleased to once again collaborate with Boralex on a transformative project like the Hagersville battery energy storage park. This project builds on our rapidly expanding battery energy storage portfolio and further reinforces SNGRDC's role as a leader in this field. The project has created employment opportunities for Six Nations band members through A6N during construction, while delivering cost savings for Ontario ratepayers and meaningful environmental benefits that align with our commitment to environmental stewardship." Matt Jamieson, president and chief executive officer of Six Nations of the Grand River Development. "The Hagersville battery energy storage park demonstrates the value of indigenous participation in the renewable energy sector, and Six Nations of the Grand River is pleased to have been a key development partner in strengthening the energy grid. Six Nations of the Grand River Development Corp. continue to pursue strategic investment opportunities that support economic self-sufficiency for our community and we look forward to future opportunities." Sherri-Lyn Hill, elected chief of Six Nations of the Grand River "The Hagersville battery energy storage park is a project shaped by the voices of Haldimand county. From the start, we've seen a commitment to listening and working with our community to ensure this development reflects local priorities. The result is an energy solution that not only strengthens Ontario's grid but also respects the character and needs of our region. We're proud to celebrate this milestone with Boralex and the Six Nations of the Grand River Development Corp. as partners in building a cleaner, more resilient future for Haldimand." Shelley Bentley, mayor of Haldimand county "The Hagersville battery energy storage park will build on a track record of delivering cost-effective energy storage projects through the Independent Electricity System Operator's competitive procurements. Our continued work with indigenous communities, municipalities, government and project proponents like the Six Nations of the Grand River Development Corp. and Boralex is getting new electricity resources built in Ontario to help keep the province's grid reliable and affordable, supporting continued economic growth." Lesley Gallinger, president and chief executive officer, Independent Electricity System Operator "Congratulations to Boralex on the commissioning of the Hagersville battery energy storage park. This project strengthens Ontario's energy grid but also reflects the power of collaboration between industry leaders and indigenous communities. I look forward to the economic and environmental benefits this project will deliver." Bobbi Ann Brady, MPP for Haldimand-Norfolk "The commissioning of the Hagersville battery energy storage park is a defining moment in our 2030 strategic plan. It demonstrates our ability to deliver transformative infrastructure that stengthens grid reliability and accelerates the integration of renewable energy across North America -- at the pace required to support economic growth, energy independence and decarbonization. This project showcases how innovation, combined with strong partnerships, can create long-term value for both communities and shareholders." Patrick Decostre, president and chief executive officer of Boralex "Hagersville is a powerful example of what's possible when strong partnerships drive innovation. This project reflects not only technical excellence but also meaningful collaboration with indigenous partners and local businesses, such as A6N, whose involvement helped bring this milestone to life. Together, we've set a new benchmark for energy transition and grid security -- one that creates lasting value for communities and accelerates access to renewable power for all." Robin Deveaux, executive vice-president and general manager, North America About Boralex Inc. At Boralex, the company has 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, the company also have facilities in the United States and development projects in the United Kingdom. Over the past five years, the company's installed capacity has increased by more than 50 per cent, reaching 3,303 MW as at Sept. 30, 2025. Since then, the corporation has commissioned a new wind farm with a capacity of 100 MW, bringing total installed capacity to 3,403 MW as of today. Boralex is developing a portfolio of projects in development and construction of eight GW (gigawatts) in wind, solar and storage projects, guided by the company's values and the company's 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 the company's fearlessness, its discipline, its expertise and its diversity, the company continues to be an industry leader. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX. We seek Safe Harbor.