Algonquin Power & Utilities

$ 3.6 $ 24.1 $ 89.8 $ 120.9 Series A Shares and Series D Shares dividend (note 9(b)) 2.6 2.6 5.2 5.2 Net earnings attributable to common shareholders of Algonquin Power & Utilities Corp.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

Non-compliance with the covenants could restrict cash distributions/dividends to the Company from the specific facilities.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

Shareholders' capital (a) Common shares The number of common shares outstanding is as follows: Six months ended June 30, 2026 2025 Common shares, beginning of period 768,351,419 767,343,863 Exercise of share-based awards 1,396,265 608,405 Common shares, end of period 769,747,684 767,952,268 (b) Dividends All dividends of the Company are made on a discretionary basis as determined by the board of directors of the Company.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

T he Company declares and pays the dividends on its common shares in U.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

Registered holders of common shares can elect to receive the dividends in the Canadian dollar equivalent amount.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

Diluted net earnings per share are computed using the weighted average number of common shares, additional shares issued subsequent to quarter-end under the dividend reinvestment plan, and, if dilutive, potential incremental common shares related to the weighted average number of outstanding share options, performance share units, restricted share units and deferred share units outstanding during the period.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

Overview and Business Strategy AQN is incorporated under the Canada Business Corporations Act.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

The Regulated Services Group seeks to deliver long-term growth within its service territories, including through the pursuit of capital investment opportunities and other initiatives.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

- Management Discussion Analysis Offering, which refinanced previously outstanding AQN debt, with the remaining increase primarily due to higher utilization of credit facilities, $6.7 million of higher operating expenses across the gas systems, $5.7 million of higher wildfire insurance expenses recovered in rates, $3.3 million of expenses related to gas safety excellence initiatives and $3.1 million resulting from rate reductions at the Park Water (CA) and Apple Valley (CA) Water Systems and $2.9 million of higher non-recurring gas remediation expenses (excluded from Adjusted Net Earnings (see Caution Concerning Non-GAAP Measures) ) related to the Lexington Gas Incident.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

We advanced key regulatory priorities, reinforced financial and operational discipline and continued to make investments across our utilities that support safe and reliable service while balancing customer affordability.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

issued $1.15 billion aggregate principal amount of unsecured Senior Notes, the proceeds of which were used to repay Canadian holding company debt of $1.15 billion that matured on June 15, 2026, supporting the Company s tax optimization initiatives.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

Such costs include severance, fees paid to third-party consultants, litigation costs and other non-recurring items.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

Commitments and contingencies (a) Contingencies AQN and its subsidiaries are involved in various claims and litigation arising out of the ordinary course and conduct of its business.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

The forward-looking information contained herein is subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or results anticipated by the forward-looking information.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

Adjusted Net Earnings Adjusted Net Earnings is a non-GAAP financial measure used by many investors to compare net earnings attributable to common shareholders from operations without the effects of certain volatile primarily non-cash items that generally have no current economic impact or items such as acquisition expenses or certain litigation expenses that are viewed as not directly related to a company s operating performance.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026

AQN cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements.

SEC original ↗Algonquin Power & Utilities — Earnings release (6-K exhibit)EX-99Aug 7, 2026