POLARIS RENEWABLE ENERGY - RAMPF STOCK NEWS

Polaris Renewable Energy Inc. (TSX:PIF) reported its Q2 2024 financial results. Key highlights include:

• Consolidated energy production of 186,887 MWh, down 11% year-over-year
• Revenue of $18.7 million, compared to $20.8 million in Q2 2023
• Net earnings of $985,000 or $0.05 per share
• Adjusted EBITDA of $13.3 million
• Cash position of $45.2 million, including restricted cash
• Quarterly dividend of $0.15 per share declared

The decrease in production and revenue was primarily due to scheduled maintenance at the Nicaragua geothermal facility and lower hydrology in Peru. Despite challenges, the company maintained cost control measures and expects generation for the remainder of the year to align with expectations.

Polaris Renewable Energy Inc. (TSX:PIF) has announced details for its Q2 2024 Earnings Conference Call and Webcast, scheduled for Thursday, August 1st, 2024, at 10:00 am EST. Investors can participate by dialing 888-506-0062 (Toll Free) or 973-528-00-11 (International Toll-Free) with entry code 100892. Alternatively, they can access the webcast via the provided URL.

A digital recording of the earnings call will be available for replay two hours after the call's completion. Replay options include dialing 1 877-481-4010 (Toronto) or 1 919-882-2331 (International toll-free) with passcode 50363. The replay will be available until August 15, 2024.

Polaris Renewable Energy announced the election results for its board of directors at the annual and special meeting held on June 20, 2024, via live video webcast. All six director nominees proposed by management were elected. Each director will hold their position until the next annual meeting or until successors are duly elected or appointed.

The voting results based on proxies received and online ballots are as follows:

Jaime Guillen: 8,886,119 votes for (88.49%), 1,155,306 votes withheld (11.51%)

James V. Lawless: 8,884,873 votes for (88.48%), 1,156,552 votes withheld (11.52%)

Marc Murnaghan: 8,890,436 votes for (88.54%), 1,150,989 votes withheld (11.46%)

Marcela Paredes de Vásquez: 8,878,715 votes for (88.42%), 1,162,710 votes withheld (11.58%)

Catherine Fagnan: 8,865,120 votes for (88.29%), 1,176,305 votes withheld (11.71%)

Adarsh P. Mehta: 8,888,570 votes for (88.52%), 1,152,855 votes withheld (11.48%)

Polaris Renewable Energy has announced a proposed amendment to its omnibus long-term incentive plan, transitioning from a rolling plan to a fixed plan. This change has been approved by the company's board of directors and will be presented for shareholder approval at the upcoming meeting on June 20, 2024. An amendment to the management information circular dated May 17, 2024, detailing the specific changes, will be filed shortly. The effectiveness of these amendments is contingent upon receiving all necessary approvals, including shareholder and regulatory approvals.

Polaris Renewable Energy reported its Q1 2024 financial and operating results, highlighting a decrease in energy production, an increase in revenue, flat direct costs, and a quarterly dividend declaration. Despite lower production, revenue increased due to higher prices in power purchase agreements and spot markets. Adjusted EBITDA improved, while net earnings and cash flow from operating activities saw a slight decline. The Company remains focused on sustainability initiatives and maintaining a strong financial position.

Polaris Renewable Energy Inc. (TSX:PIF) has declared a quarterly dividend of US$0.15 per common share outstanding, to be paid on May 24th, 2024. The board of directors is committed to paying quarterly dividends and will consider further increases in the future.

Polaris Renewable Energy Inc. (TSX:PIF) announces its Q1 2024 Earnings Conference Call and Webcast on May 2nd, 2024, at 10:00 am EST. The call details include dial-in numbers and a webcast link for easy access. A digital recording will be available for replay shortly after the call.

Polaris Renewable Energy Inc. reports a strong financial performance for the year ended December 31, 2023, with a 23% increase in energy production, $78.5 million in revenue from energy sales, and $11.7 million in net earnings. The company's Adjusted EBITDA rose to $57.7 million, and it generated $44.0 million in net cash flow from operating activities. Polaris also completed the construction of a solar park in Panama and implemented a Battery Energy Storage System in Peru. The company repurchased and cancelled common shares and maintained a quarterly dividend. Polaris continues to focus on environmental, social, and governance initiatives while achieving excellent health and safety standards.

Polaris Renewable Energy Inc. (TSX:PIF) has declared a quarterly dividend of US$0.15 per common share outstanding, to be paid on February 23rd, 2024. The dividend is designated as an 'eligible dividend' for Canadian tax purposes. The company remains committed to paying quarterly dividends and will consider further increases in the future.