TRISUMMIT UTILITIES INC. ANNOUNCES CEO TRANSITION

CALGARY, AB, Aug. 25, 2025 /CNW/ - TriSummit Utilities Inc. (the "Company" or "TSU") announced today that Jared Green, President and Chief Executive Officer, has informed the Board of Directors of his intention to step down from the role, following a prescribed notice period, to pursue new professional opportunities.

"On behalf of the Board of Directors, we express our appreciation for Jared's contributions and leadership as TSU's CEO since its creation in 2018, and wish him well in the future," said David Cornhill, Chair of TSU's Board of Directors.

The Board intends to appoint Shaun Toivanen, TSU's Executive Vice President and Chief Financial Officer, to serve as interim CEO following a transition period. During this transition period, the Board will undertake a process to finalize a CEO appointment, and has full confidence in Shaun to lead the Company until the selection process is concluded. Shaun has been TSU's CFO since 2018, after co-leading the initial public offering of the Company. Shaun has played a pivotal role in shaping TSU's strategic direction and growth by leveraging his financial, strategic and operational abilities. He brings a comprehensive understanding of our business, proven leadership, and a strong commitment to delivering value for our stakeholders.

About TriSummit Utilities Inc.

TSU is a North American company with natural gas distribution, transmission and storage utilities and renewable power generation assets. TSU serves approximately 292,000 customers across Canada and the United States, delivering energy safely and reliably.

Forward Looking Statements

This press release contains forward-looking statements. When used in this press release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to TSU or an affiliate of TSU, are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements with respect to, among other things, the stepping down of the CEO, the appointment of an interim CEO and a process to finalize a CEO appointment. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect TSU's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in the market, competition, governmental or regulatory developments, general economic conditions and other factors set out in TSU's public disclosure documents. Many factors could cause TSU's actual results, performance or achievements to vary from those described in this press release, including without limitation, those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this press release, should not be unduly relied upon. Such statements speak only as of the date of this press release. TSU does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE Trisummit Utilities Inc.

For further information please contact: TriSummit Utilities Inc., [email protected]