Algonquin Power comments on Starboard director nominations

Algonquin Power issued the following statement regarding the director nominations submitted by Starboard to stand for election to the Algonquin board of directors at the company’s 2024 annual general meeting of shareholders: “Algonquin maintains open communications with its shareholders and appreciates constructive input that advances its goal of enhancing shareholder value. The Company is making important progress executing on its key initiatives, including pursuing a sale of its renewable energy business, continuing its search process for a permanent CEO and repositioning the Company towards a more efficient operating profile and a simplified strategy for the future. The Corporate Governance Committee of Algonquin’s Board will review the proposed nominees in accordance with the Company’s guidelines. The Board will present its formal recommendation with respect to the election of directors in the Company’s management information circular, to be filed with Canadian securities regulatory authorities and the Securities and Exchange Commission and delivered to shareholders eligible to vote at the 2024 Annual Meeting of Shareholders. Algonquin shareholders are not required to take any action at this time.”