Enova Power Corp. completes private placement of C$250 million 3.596% Senior Unsecured Debentures, Series 2026-1 due 2031

WATERLOO REGION, ON, Jan. 21, 2026 /CNW/ - Enova Power Corp. ("Enova Power") announced today that it has completed a private placement offering (the "Offering") of C$250 million principal amount of 3.596% Senior Unsecured Debentures, Series 2026-1 due January 21, 2031 (the "Debentures").

The Debentures bear interest at 3.596% per annum, payable semi-annually, and were sold on a private placement basis under Enova Power's trust indenture dated January 21, 2026 (as supplemented by the Series 2026-1 Supplemental Indenture). BMO Nesbitt Burns Inc. (the "Agent") acted as the sole bookrunner and sole lead arranger for the Offering. Gowling WLG (Canada) LLP acted as legal advisor to Enova Power and Blake, Cassels & Graydon LLP acted as legal advisor to the Agent in connection with the Offering.

The net proceeds of the Offering will be principally used for general corporate purposes, which may include the repayment of existing indebtedness and funding capital expenditures related to electricity distribution system renewal and expansion.

The Debentures have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy the Debentures in the United States.

About Enova Power Corp.

Enova Power Corp. is the trusted energy provider, dedicated to delivering safe and reliable energy solutions that power our communities forward. Serving more than 165,000 residential and business customers in the City of Kitchener, City of Waterloo, Township of Woolwich, Township of Wilmot, and Township of Wellesley, Enova Power Corp. will drive what's next in energy and sustainability for our communities and beyond.

SOURCE Enova Power Corp.

Media Contact: Margaret Nanninga, Vice President Finance and Chief Financial Officer, Enova Power Corp., Tel: [phone], Mobile: [phone], Email: [email protected]