December 18, 2018

Capital Power announces conversion results for its Preferred Shares (Series 3)

EDMONTON, Alberta – Capital Power Corporation (TSX: CPX) (the Corporation and together with its subsidiaries, Capital Power) announced today that after having taken into account all Election Notices following the December 17, 2018 conversion deadline, in respect of the Cumulative Rate Reset Preference Shares, Series 3 (Series 3 Shares) tendered New online casinosfor conversion into Cumulative Floating Rate Preference Shares, Series 4 (Series 4 Shares), the holders of Series 3 Shares were not entitled to convert their shares. There were approximately 47,270 Series 3 Shares tendered for conversion, which was less than the required one million shares required for conversion into Series 4 Shares.

There are six million Series 3 Shares listed on the Toronto Stock Exchange (TSX) under the symbol CPX.PR.C. Effective December 31, 2018, the Annual Fixed Dividend Rate for the next five-year period has been reset to 5.45300%.

For more information on the terms of, and risks associated with an investment in the Series 3 Shares, please see Capital Power’s prospectus supplement dated December 10, 2012 which is available on or on Capital Power’s website at

About Capital Power

Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, owns, and operates power generation facilities using a variety of energy sources. Capital Power owns approximately 5,100 megawatts (MW) of power generation capacity at 25 facilities across North America. Approximately 1,000 MW of owned generation capacity is in advanced development in Alberta, North Dakota, and Illinois.