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EDMONTON, Alberta – Capital Power Corporation (TSX: CPX) (the Corporation and together with its subsidiaries, Capital Power) announced today that it has notified registered shareholders of its Cumulative Rate Reset Preference Slots game online, Series 3 (Series 3 Slots game online) (TSX: CPX.PR.C) of the Conversion Privilege and Dividend Rate Notice.

Subject to certain conditions, beginning on December 1, 2018 and ending at 5:00 p.m. (Toronto time) on December 17, 2018, each registered holder of Series 3 Slots game online will have the right to elect to convert any or all of their Series 3 Slots game online into an equal number of Cumulative Floating Rate Preference Slots game online, Series 4 (Series 4 Slots game online) by delivering an Election Notice to the Corporation.

If Capital Power does not receive an Election Notice from a holder of Series 3 Slots game online during the time fixed therefor, then the Series 3 Slots game online shall be deemed not to have been converted (except in the case of an Automatic Conversion, see below). Holders of the Series 3 Slots game online and the Series 4 Slots game online will have the opportunity to convert their Slots game online again on December 31, 2023, and every five years thereafter as long as the Slots game online remain outstanding.

Effective December 31, 2018, on December 3, 2018, the Annual Fixed Dividend Rate for the Series 3 Slots game online was set for the next five-year period at 5.45300%. Effective December 31, 2018, on December 3, 2018, the Floating Quarterly Dividend for the Series 4 Slots game online was set for the first Quarterly Floating Rate Period (being the period from and including December 31, 2018, to but excluding March 31, 2019) at 1.21882%. The Floating Quarterly Dividend Rate will be reset every quarter.

The Series 3 Slots game online are issued in “book entry only” form and, as such, the sole registered holder of the Series 3 Slots game online is CDS Clearing and Depository Services Inc. (CDS). All rights of beneficial holders of Series 3 Slots game online must be exercised through CDS or the CDS participant through which the Series 3 Slots game online are held. The deadline for the registered shareholder to provide notice of exercise of the right to convert Series 3 Slots game online into Series 4 Slots game online is 3:00 p.m. (MST) / 5:00 p.m. (EST) on December 17, 2018. Any Election Notices received after this deadline will not be valid. As such, beneficial holders of Series 3 Slots game online who wish to exercise their rights to convert their Slots game online should contact their broker or other intermediary for more information and it is recommended that this be done well in advance of the deadline in order to provide the broker or other intermediary with time to complete the necessary steps.

After December 17, 2018, (i) if Capital Power determines that there would remain outstanding on December 31, 2018, less than 1,000,000 Series 3 Slots game online, all remaining Series 3 Slots game online will be automatically converted into Series 4 Slots game online on a one-for one basis effective December 31, 2018 (an Automatic Conversion); or (ii) if Capital Power determines that there would remain outstanding after December 31, 2018, less than 1,000,000 Series 4 Slots game online, no Series 3 Slots game online will be permitted to be converted into Series 4 Slots game online effective December 31, 2018. There are currently 6,000,000 Series 3 Slots game online outstanding.

The Toronto Stock Exchange (TSX) has conditionally approved the listing of the Series 4 Slots game online effective upon conversion. Listing of the Series 4 Slots game online is subject to the Capital Power fulfilling all the listing requirements of the TSX and upon approval, the Series 4 Slots game online will be listed on the TSX under the trading symbol CPX.PR.D.

For more information on the terms of, and risks associated with an investment in, the Series 3 Slots game online and the Series 4 Slots game online, please see Capital Slots game online’s prospectus supplement dated December 10, 2012 which is available on sedar.com or on Capital Slots game online’s website at capitalpower.com.

About Capital Slots game online

Capital Slots game online (TSX: CPX) is a growth-oriented North American Slots game online producer headquartered in Edmonton, Alberta. The company develops, acquires, owns, and operates Slots game online generation facilities using a variety of energy sources. Capital Slots game online owns approximately 5,100 megawatts (MW) of Slots game online 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.