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EDMONTON, Alberta – Capital Power Corporation (TSX: CPX) (Capital Power or the Company) today announced the appointment of Jill Gardiner as Chair of the Board, effective upon her election as a director at Capital Power’s Annual General Meeting (AGM) on April 29, 2021. Ms. Gardiner has been an independent director of Capital Power since 2015. She will succeed Donald Lowry, who after 12 successful years as Chair, and having reached his term limit, is retiring from the Board at the AGM.

“It will be an honour and a privilege to serve as the Company’s next Chair,” said Jill Gardiner. “Don has deftly led the Board and worked with the management team to optimize our assets and expand and diversify our business, positioning Capital Power to deliver sustainable and responsible energy over the coming years. I look forward to working with my deeply experienced fellow Board members and our diverse and talented management team to advance these strategic priorities. And I want to thank Don for his support, guidance, and mentorship.”

“It has been a once in a lifetime opportunity to be part of the incredible journey of creating Capital Power and working with a team of first class directors and management team led by Brian Vaasjo,” said Donald Lowry. “We now have a company that is North American in scope and achieving industry and peer recognition for its ability to deliver value on both a social and shareholder basis. Of all the things I will miss, it is the interaction and working with people as we navigated the drama and opportunity of the various cycles this industry goes through. I leave with the knowledge the Company is better than when we began and with Jill’s leadership as Chair our path of continuous improvement will continue.”

Ms. Gardiner has extensive corporate governance experience after having served on public company and not-for-profit boards, often in leadership roles, for the past decade. Previously, she spent over 20 years in the investment banking industry in various roles in corporate finance, mergers and acquisitions, and debt capital markets in which she provided strategic advice to, and helped raise capital for, numerous corporations with a focus on the power, pipeline, and infrastructure industries. In addition to Capital Power, Ms. Gardiner is currently chair of the Board and chair of the Compensation and Human Resources Committee of Trevali Mining Corporation. She is also a member of the board of directors of Hochschild Mining and serves on their Audit, Nomination, and Remuneration Committees. She holds a Bachelor of Science and a Master of Business Administration, both from Queen’s University.

About Capital Power

Capital Power is a growth-oriented North American wholesale power producer with a strategic focus on sustainable energy headquartered in Edmonton, Alberta. We build, own and operate high-quality, utility-scale generation facilities that include renewables and thermal. We have also made significant investments in carbon capture and utilization to reduce carbon impacts and are committed to be off coal in 2023. Capital Power owns over 6,500 megawatts (MW) of power generation capacity at 28 facilities across North America with approximately 425 MW of owned renewable generation capacity and 560 MW of incremental natural gas combined cycle capacity, from the repowering of Genesee 1 and 2, in advanced development in Alberta and North Carolina.