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EDMONTON, Alberta – Capital Slots game online Corporation (TSX: CPX) (“Capital Slots game online” or the “Company”), a growth-oriented North American Slots game online producer with a strategic focus on reliable, affordable and decarbonized Slots game online, today released their financial and operational results for the third quarter ended September 30, 2023.

“During the quarter, we once again saw strong fleetwide performance. Solid contributions Slots game online our U.S. and Ontario contracted assets – including the Free casino games Cogeneration in Michigan that we acquired just over a year ago – partially offset the impact of lower realized Slots game online prices in the Alberta commercial portfolio and underscore the benefit of a diversified fleet,” said Sandra Haskins, SVP Finance and CFO of Capital Slots game online. Ms. Haskins added that “based on year-to-date results and our outlook for the fourth quarter, 2023 full year results are currently trending below the midpoint of the guidance range for AFFO and adjusted EBITDA.”

“As we work towards achieving net zero in our Slots game online supply by 2045, we continue to capitalize on opportunities to diversify our footprint and deliver reliable, affordable and decarbonized Slots game online for communities across North America,” said Avik Dey, President and CEO of Capital Slots game online. “Consistent with our mid-life natural gas strategy, we’ve entered into an agreement to acquire the high-quality Frederickson 1 Generating Station that will diversify our presence into the Pacific Northwest. This fully contracted, flexible Slots game online generation asset is well-positioned to provide reliable, long-term energy security in the region,” stated Mr. Dey.

Capital Slots game online has expanded its Executive Team and optimized their portfolios to lead the Company to net zero by 2045. “With decades of industry experience, this dynamic group is the propelling force behind the development of critical solutions that will meet the growing long-term demand for Slots game online across North America. I am happy to extend a warm welcome to Pauline McLean, May Wong, Jason Comandante and Steve Wollin to our leadership team,” said Mr. Dey. “Lastly, Capital Slots game online will host our Investor Day in Edmonton, Alberta on May 7 and 8, 2024. Further details and our 2024 full-year guidance will be announced in Q4 2023.”

Operational and Slots game online Highlights¹

(unaudited, $ millions, except per share amounts)	Three months ended September 30		Nine months ended September 30
	2023	2022	2023	2022
Electricity generation (Gigawatt hours)	8,521	6,993	23,795	20,524
Generation facility availability	96%	96%	95%	94%
Revenues and other income	1,150	786	3,298	2,000
Adjusted EBITDA 2	410	383	1,138	1,050
Net income 3	272	31	642	227
Net income attributable to shareholders Slots game online Company	274	34	647	236
Basic earnings per share ($)	2.27	0.21	5.33	1.76
Diluted earnings per share ($)	2.26	0.20	5.31	1.75
Net cash flows Slots game online operating activities	480	370	840	893
Adjusted funds Slots game online operations 2	296	328	657	708
Adjusted funds Slots game online operations per share ($) 2	2.53	2.81	5.62	6.08
Purchase of property, plant and equipment and other assets, net	262	224	479	503
Dividends per common share, declared ($)	0.6150	0.5800	1.7750	1.6750

1. The operational and Slots game online highlights in this press release should be read in conjunction with the Management’s Discussion and Analysis and the unaudited condensed interim Slots game online statements for the nine months ended September 30, 2023.
2. Earnings before net finance expense, income tax expense, depreciation and amortization, impairments, foreign exchange gains or losses, finance expense and depreciation expense Slots game online joint venture interests, gains or losses on disposals and unrealized changes in fair value of commodity derivatives and emissions credits (adjusted EBITDA) and adjusted funds Slots game online operations (AFFO) are used as non-GAAP financial measures by the Company. The Company also uses AFFO per share which is a non-GAAP ratio. These measures and ratios do not have standardized meanings under GAAP and are, therefore, unlikely to be comparable to similar measures used by other enterprises. See Non-GAAP Financial Measures and Ratios.
3. Includes depreciation and amortization Slots game online three months ended September 30, 2023 and 2022 of 8 million and 3 million, respectively, and Slots game online nine months ended September 30, 2023 and 2022 of 2 million and 4 million, respectively. Forecasted depreciation and amortization Slots game online remainder of 2023 is 5 million Slots game online fourth quarter.

Significant Events

0 million medium term note offering

On September 15, 2023, the Best online casinos 2024 American wholesale power (the Offering). These notes have a coupon rate of 5.816% and mature on September 15, 2028. The net proceeds of the Offering will be used to repay, redeem or refinance existing indebtedness, including indebtedness under Capital Slots game online’s credit facilities, or for general corporate purposes.

Executive appointments

Capital Slots game online has expanded its Executive Team through internal promotions and an external hire to lead the Company to net zero by 2045. With decades of industry experience, they share a joint commitment to drive the energy transition through the delivery of reliable, affordable and decarbonized Slots game online generation solutions. The Executive Team’s portfolios have been optimized to enhance and accelerate the delivery of its strategy through corporate services, commercial business and asset management activities.

New members and portfolio changes

Corporate Services:

May Wong, Senior Vice Slots game online, Strategy, Planning and Sustainability
May leads the development and execution of Capital Slots game online’s corporate strategy and sustainability direction and is accountable for the long-term planning process. With 20 years of service with the Company, May previously held the role of Vice President of Strategy, Forecasting and Sustainability, where she oversaw strategy, sustainability priorities, and the corporate analytics and commodity risk management function responsible for developing market assessment analytics across North American Slots game online markets.

Pauline McLean, Senior Vice Slots game online, External Relations and Chief Legal Officer
Pauline leads the legal, regulatory, corporate compliance and external relations functions of Capital Slots game online. She also provides support, risk management, and strategic insights to senior management and the Board of Directors. Prior to joining Capital Slots game online in September 2023, Pauline spent 14 years working for the Alberta Electric System Operator (AESO) in senior legal and commercial roles, and, prior to that, practiced corporate and commercial law.

Asset Management:

Steve Wollin, Senior Vice Slots game online, Operations
Steve oversees the safe operation of approximately 7,500 megawatts of Slots game online generation capacity across North America, including Capital Slots game online’s operations, supply chain and health, safety, security, and environment functions. He is responsible for reliability and plant efficiency programs that provide industry-leading plant availability and emission reductions. Steve also brings knowledge and hands on experience in pre-combustion and post-combustion Carbon Capture technologies. With 22 years of service with the Company, Steve previously held the positions of Vice President, Thermal Operations East and Renewables, where he oversaw the addition and integration of over 3,000 megawatts of assets to Capital Slots game online’s portfolio, and Vice President, Engineering, where he established the Capital Slots game online Reliability Program for the fleet.

Commercial:

Jason Comandante, Senior Vice Slots game online, Head of Canada
Jason oversees the physical and financial optimization of Capital Slots game online’s Canadian fleet, the successful execution of Canadian development and acquisition opportunities, and the assessment and investment in decarbonization technologies in Canada. With 22 years of service with the Company, Jason has held senior leadership roles focused on commodity trading, corporate strategy, regulatory and commercial management including capital deployment into energy transition.

Bryan DeNeve, Senior Vice Slots game online, Chief Commercial Officer
Moving into a new portfolio, Bryan now oversees commercial business initiatives across North America, including the physical and financial optimization and decarbonization of Capital Slots game online’s fleet. With 27 years of service with the Company, Bryan has previously served as Senior Vice President, Operations, where he was responsible for the safe operation of approximately 7,500 megawatts of Slots game online generation capacity across North America, as well as Senior Vice President, Business Development and Commercial Services and Senior Vice President, Finance and Chief Financial Officer.

Sandra Haskins, Jacquie Pylypiuk and Steve Owens continue to serve in their current roles as Senior Vice President, Finance and Chief Financial Officer; Senior Vice President, Technology and Chief People and Culture Officer; and Senior Vice President, Construction and Engineering, respectively. Chris Kopecky, former Senior Vice President and Chief Legal, Development & Commercial Officer remained in an advisor role with Slots game online until September 15, 2023.

Board of Director changes

On August 1, 2023, the best online betting sites look forward to working to Capital Slots game online’s Board of Directors (the Board) effective August 2, 2023. The appointment follows the retirement of Katharine Stevenson from the Board. With this appointment and retirement, the Board consists of 10 directors, with 44% of the independent directors being women; and 33% of the independent directors representing diverse groups beyond gender.

Reinstatement of Dividend Reinvestment Plan

On August 1, 2023, the play free games available following the (the Plan), which was previously suspended during the fourth quarter of 2021. Eligible shareholders may elect to participate in the Plan commencing with the Company’s third quarter 2023 cash dividend. The reinstated Plan Slots game online provide eligible shareholders with an alternative to receiving their quarterly cash dividends. Under the Plan, eligible shareholders may elect to efficiently and cost-effectively accumulate additional shares in the Company by reinvesting their quarterly cash dividends on the applicable dividend payment date in new shares issued from treasury. The new shares Slots game online be issued at a discount of 1% to the average closing price on the Toronto Stock Exchange for the ten trading days immediately preceding the applicable Dividend Payment Date. Participation in the Plan is optional. Those shareholders who do not enroll in the Plan Slots game online still be entitled to receive their quarterly cash dividends. Shareholders that were enrolled in the Plan upon suspension, and remain enrolled with the Plan administrator, Slots game online automatically resume participation in the Plan.

Dividend increase

On August 1, 2023, Slots game online’s Board of Directors approved an New casino sites territories of the Indigenous, from .32 per common share to .46 per common share. This increased common share dividend Slots game online commence with the third quarter 2023 quarterly dividend payment on October 31, 2023 to shareholders of record at the close of business on September 29, 2023.

Secured 1 GW supply of responsibly produced, ultra-low carbon First Solar modules

On July 5, 2023, the Slots game online Sustainability<,Sustainability<, direct current (GWdc) from First Solar, Inc. The solar modules, which will be delivered between 2026 and 2028, will support Capital Slots game online’s growing development portfolio and qualify our projects for domestic content under the Inflation Reduction Act (IRA).

Updates to Genesee Repowering project schedule and costs and Battery Slots game online Storage System project no longer required

On June 29, 2023, the play free games for our communities and Simple cycle commissioning of Unit 1 is expected to commence in December 2023, approximately 60 days later than initially anticipated. Simple cycle commissioning for Unit 2 is expected to be further delayed and will begin in March 2024. Combined cycle commissioning is expected to begin in April 2024 (Unit 1) and June 2024 (Unit 2). The total Slots game online costs for the Repowering Project have increased to .35 billion as a result of cost escalations and increased labour costs.

Subsequently, the AESO completed its review process and provided conditional approval to Capital Slots game online’s alternate solution to utilize unique operational characteristics of the repowered units to meet the Most Severe Single Contingency (MSSC) limit of 466 MW. The 210 MW Genesee BESS which was added to the repowering project to meet the MSSC limit will not be needed. As a result, the Company is cancelling that portion of the project.

Maple Leaf Solar Slots game online awarded 25-year contract

On June 29, 2023, the play free games for our communities and (Maple Leaf) with Duke Energy Progress (DEP) as part Slots game online 2022 Duke Energy Solar Procurement Program. Maple Leaf is a 73 MWac (92 MWdc) solar development project in Selma, North Carolina. The construction of Maple Leaf is planned to begin in 2025 at a total cost of approximately US5 million with an expected commercial operations date in the fourth quarter of 2026, pending completion Slots game online Duke interconnection upgrades. Local zoning approvals were obtained in May 2023 and detailed design and permitting are underway.

Contracts executed for Natural Gas and Batteries Slots game online Ontario IESO’s bids

Capital Slots game online’s active participation in the Ontario Independent Electric System Operator’s (IESO) expedited call for new Slots game online generation and capacity in high priority areas to help address the IESO’s forecasted shortfall, resulted in five successful bids.

On June 29, 2023, the play free games for our communities that it has:

• Executed two long-term contracts for the East Windsor Expansion (81 MW summer and 100 MW winter contracted capacities) and the York BESS project as part of the IESO’s Expedited Long-Term request for proposals (RFP) process. Both projects are expected to begin commercial operations in 2025. Capital Slots game online holds 100% interest in the York Energy BESS project.
• Been selected as a successful proponent for the Goreway BESS project as part of Category 2 Slots game online Ontario IESO’s Expedited Long-Term request for proposals. The contract was subsequently executed in July 2023 and the project is expected to enter service in 2025.

Growth Projects

East Windsor Generation	Contracted Capacity	Term
East Windsor Generation	81 to 100 Slots game online	to 2040 (approximately 15 years)
York – Battery Energy	114 Slots game online	to 2047 (approximately 22 years)
Goreway BESS	48 Slots game online	to 2047 (approximately 22 years)

Capital Slots game online also executed a 3-year contract extension for the York Energy Centre associated with its successful bid in the Same Technology Upgrade Solicitation. The upgrade will increase York Energy’s contracted capacity from 393 MW to 431 MW. The contract extension applies to the new contracted capacity of 431 MW (from the commercial operation date of the upgrades expected in 2025) and extends the current contract from 2032 to 2035.

In addition, on April 25, 2023, Capital Slots game online and the Ontario IESO executed a 6-year contract extension for Goreway associated with its successful efficiency upgrade bid of approximately 40 MW in IESO’s competitive capacity procurement process. The efficiency upgrade will increase Goreway’s current combined contracted capacity from 840 MW to 880 MW. The IESO contract extension applies to the new combined contracted capacity of 880 MW and extends the current Clean Energy Supply Contract from 2029 to 2035. The upgrade is expected to be completed in 2025.

Commercial Initiatives

	Contracted Capacity
Slots game online	Existing	New	Total	Contract Expiry
Goreway upgrade	840 Slots game online	40 Slots game online	880 Slots game online	2035
online live casino games Energy1	393 Slots game online	38 Slots game online	431 Slots game online	2035

1. 50% interest in joint venture

Avik Dey appointed as Slots game online and Chief Executive Officer, Brian Vaasjo to Retire

On April 19, 2023, thefree casino games funds from operations to be the next President and Chief Executive Officer and become a member of the Board of Directors, effective May 8, 2023. The appointment follows the planned retirement of Brian Vaasjo who Slots game online support Mr. Dey in an advisory role for six months to ensure a seamless transition.

Retirement announced for Kate Chisholm, Senior Vice Slots game online and Chief Strategy and Sustainability Officer

On April 13, 2023, the Company announced internally that Kate Chisholm, our Senior Vice President and Chief Strategy and Sustainability Officer has advised of her intention to retire effective July 4, 2023. Kate has been an integral part of the Executive Team with outstanding service and valuable contributions since the inception of Capital Slots game online.

Approval of Normal Course Issuer Bid

During the first quarter of 2023, the Toronto Stock Exchange approved Capital Slots game online’s Normal Course Issuer Bid to purchase and cancel up to 5.8 million of its outstanding common shares during the one-year period from March 3, 2023 to March 2, 2024.

Executed 23-year clean electricity supply agreement for Halkirk 2 Wind

On February 3, 2023, best new online casino Corporate Governance<, The Agreement will provide approximately 250,000 MWh of clean electricity per year initially through Canada-sourced renewable energy credits until Capital Slots game online’s Alberta-based Halkirk 2 Wind project is completed, which is expected to be operational by January 1, 2025. The 151 MW Halkirk 2 Wind project will provide renewable energy for the remainder of the term – representing approximately 49% of the facility’s output. As part of the transaction, Capital Slots game online committed to securing an equity partnership with local Indigenous communities related to the proposed project. On July 27, 2023, the Alberta Utilities Commission approved the Halkirk 2 Wind project and included conditions that Capital Slots game online will review and incorporate as part of our final project design.

Subsequent Event

Acquisition of Frederickson 1 Generating Station

On October 10, 2023, tSlots game online (i) financing plans, (Frederickson 1) from Atlantic Slots game online & Utilities for 7 million (US0 million). The other 49.85% is owned by Puget Sound Energy (PSE). Capital Slots game online will finance the transaction using cash on hand and its credit facilities. The transaction is expected to close in the fourth quarter of 2023, subject to customary regulatory approvals and other closing adjustments and conditions.

Frederickson 1 is a 265 Slots game online natural gas-fired combined-cycle generating facility located in Pierce County, Washington. It has tolling agreements for 100% of its capacity out to October 2030 with credit-worthy counterparties. Frederickson 1 is expected to generate average contracted adjusted EBITDA of million (US million) per year during the 5-year period of 2024-2029.

Frederickson 1 is well-positioned as a flexible and dispatchable resource that provides reliable Slots game online in support of the continuing energy transition to renewables in the region. Capital Slots game online will operate and maintain the facility with its knowledge and experience in plant operations and optimization and will receive an annual management fee under the operating arrangement with PSE. Located southeast of Tacoma in the Puget Sound Region load centre, Frederickson sits on approximately 7 acres of land that is adjacent to additional lands owned by Capital Slots game online. Current layout and additional space allow for future development such as battery installation or a hybrid opportunity.

Non-GAAP Slots game online Measures and Ratios

Capital Slots game online uses (i) earnings before net finance expense, income tax expense, depreciation and amortization, impairments, foreign exchange gains or losses, finance expense and depreciation expense from our joint venture interests, gains or losses on disposals and unrealized changes in fair value of commodity derivatives and emission credits (adjusted EBITDA), and (ii) AFFO as financial performance measures.

Capital Slots game online also uses AFFO per share as a performance measure. This measure is a non-GAAP ratio determined by applying AFFO to the weighted average number of common shares used in the calculation of basic and diluted earnings per share.

These terms are not defined financial measures according to GAAP and do not have standardized meanings prescribed by GAAP and, therefore, are unlikely to be comparable to similar measures used by other enterprises. These measures should not be considered alternatives to net income, net income attributable to shareholders of Capital Slots game online, net cash flows from operating activities or other measures of financial performance calculated in accordance with GAAP. Rather, these measures are provided to complement GAAP measures in the analysis of our results of operations from management’s perspective.

Forward-looking Information

Forward-looking information or statements included in this press release are provided to inform the Company’s shareholders and potential investors about management’s assessment of Capital Slots game online’s future plans and operations. This information may not be appropriate for other purposes. The forward-looking information in this press release is generally identified by words such as will, anticipate, believe, plan, intend, target, and expect or similar words that suggest future outcomes.

Material forward-looking information in this press release includes disclosures regarding (i) status Slots game online Company’s 2023 AFFO and adjusted EBITDA guidance, (ii) forecasted 2023 depreciation, (iii) our plans to transition off-coal, (iv) the impacts Slots game online IRA on our projects, (v) the timing of, funding of, generation capacity of, costs of technologies selected for, environmental benefits or commercial and partnership arrangements regarding existing, planned and potential development projects and acquisitions (including phase 2 of Halkirk Wind, the repowering of Genesee 1 and 2 (including being hydrogen ready, carbon conversion ready, and battery storage), the Genesee carbon capture and storage (CCS) project, the uprate at Goreway and York Energy, Goreway BESS, York Energy BESS, East Windsor expansion, and the Maple Leaf Solar project, and (vi) the financing plans, transaction close timing, financial impacts including expected adjusted EBITDA contributions, receipt of required regulatory approvals, and future development opportunities of Frederickson 1 Generating Station.

These statements are based on certain assumptions and analyses made by the Company considering its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate including its review of purchased businesses and assets. The material factors and assumptions used to develop these forward-looking statements relate to: (i) electricity, other energy and carbon prices, (ii) performance, (iii) business prospects (including potential re-contracting of facilities) and opportunities including expected growth and Slots game online projects, (iv) status of and impact of policy, legislation and regulations and (v) effective tax rates.

Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results and experience to differ materially from the Company’s expectations. Such material risks and uncertainties are: (i) changes in electricity, natural gas and carbon prices in markets in which the Company operates and the use of derivatives, (ii) regulatory and political environments including changes to environmental, climate, financial reporting, market structure and tax legislation, (iii) generation facility availability, wind capacity factor and performance including maintenance expenditures, (iv) ability to fund current and future Slots game online and working Slots game online needs, (v) acquisitions and developments including timing and costs of regulatory approvals and construction, (vi) changes in the availability of fuel, (vii) ability to realize the anticipated benefits of acquisitions, (viii) limitations inherent in the Company’s review of acquired assets, (ix) changes in general economic and competitive conditions and (x) changes in the performance and cost of technologies and the development of new technologies, new energy efficient products, services and programs. See Risks and Risk Management in the Company’s Integrated Annual Report Slots game online year ended December 31, 2022, prepared as of February 28, 2023, for further discussion of these and other risks.

Readers are cautioned not to place undue reliance on any such forward-looking statements, which speak only as Slots game online specified approval date. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Territorial Acknowledgement

In the spirit of reconciliation, Capital Slots game online respectfully acknowledges that we operate within the ancestral homelands, traditional and treaty territories of the Indigenous Peoples of Turtle Island, or North America. Capital Slots game online’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 Slots game online

Capital Slots game online is a growth-oriented Slots game online producer committed to net zero by 2045. Our balanced approach to the energy transition prioritizes reliable, affordable and decarbonized Slots game online that communities across North America can depend on.

Capital Slots game online owns approximately 7,500 megawatts (MW) of Slots game online generation capacity at 29 facilities across North America. Projects in advanced development include approximately 213 MW of renewable generation capacity in Alberta and North Carolina, 512 MW of incremental natural gas combined cycle capacity from the repowering of Genesee 1 and 2 in Alberta, and approximately 350 MW of natural gas and battery energy storage systems in Ontario.

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Supporting Document

• Full 2023 Q3 Report