CAREERS CONTACT US CORPORATE INVESTORS NEWS ASSETS CONTINGENT LOSS FACTOR CLAIM In 2005, the Alberta Electric System Operator (“AESO”) proposed a new methodology for calculating loss factors on the Alberta electrical system in what became known as the “Line Loss Rule”. Later that year, Milner Power Inc. (“Milner”) filed a complaint at the Energy and Utilities Board (now Alberta Utilities Commission – or “AUC”) against the Line Loss Rule on the basis that it did not comply with certain sections of the Transmission Regulation. In 2012, the AUC ruled through its decision 790 2012-104 (“Decision”) in favour of Milner that the AESO’s existing loss factor methodology was, in fact, “unjust, unreasonable, unduly preferential, arbitrarily or unjustly discriminatory or inconsistent with or in contravention of the 2003 Electric Utilities Act or the regulations”. On May 31, 2021, following several other associated decisions by the AUC and Alberta Court of Appeal, the Corporation announced it had received the third and final scheduled Line Loss Proceeding remedy payment in the sum of $18.6 million from the AESO, relating to the years 2006 to 2009. The Corporation previously announced the receipt of $34.3 million for the first and second Line Loss payments, relating to the historical years 2010 to 2016, for a total of $52.9 million of payments received to date. The matter is now closed. HR Milner Power Projects Summit Coal Contingent Loss Factor Claim (403) 263-3021 (403) 263-9125 - fax Send email 1800, 715 - 5th Avenue S.W. Calgary, Alberta, CANADA T2P 2X6 Corporate Investors News Assets ABOUT US Based in Calgary, Alberta, Maxim Power Corp. ("MAXIM") is one of Canada's largest truly independent power producers. MAXIM is now focused entirely on power projects in Alberta. Its core asset - the 204 MW H.R. Milner Plant ("M2") in Grande Cache, AB is a state-of-the-art natural gas-fired power plant that commissioned in Q2, 2020. MAXIM is currently increasing the capacity of M2 to approximately 300 MW and concurrently will realize an improvement in the efficiency of the plant by investing in heat recovery combined cycle technology. In addition, MAXIM continues to explore additional development options in Alberta including its currently permitted gas-fired generation projects and the permitting of its wind power generation project. MAXIM trades on the TSX under the symbol MXG. SEARCH ©2021 Maxim Power Corp. All rights reserved.