Polaris Renewable Energy (PIF) Corporate presentation summary

Business overview

• Operates a leading renewable energy platform in Latin America and the Caribbean with 8 plants across 6 countries, focusing on solar, hydro, wind, and geothermal technologies.

• 182 MW total installed capacity, producing 810,731 MWh in 2025, with 99% of revenues fully contracted and 100% USD-denominated.

• Consistent dividend track record for over 10 years, supported by strong cash flow and robust EBITDA.

• TSX-listed with headquarters in Toronto and 204 employees.

Asset portfolio

• Major assets include San Jacinto (Nicaragua, geothermal, 82 MW), Punta Lima (Puerto Rico, wind, 26 MW), Canoa (Dominican Republic, solar, 25 MW), and several hydropower and solar assets in Peru, Panama, and Ecuador.

• 45% of capacity is geothermal, 18% hydro, 14% wind, and 14% solar.

• All assets operate under long-term PPAs with government or government-controlled entities, providing stable cash flows.

Financial performance

• Market capitalization of US$190 million, enterprise value of US$319 million, and annual dividend of US$0.60 per share (6.7% yield).

• LTM EBITDA of US$57 million, with EBITDA margins consistently above 70%.

• Net debt of US$129 million after a US$175 million green bond issuance in 2024, optimizing capital structure for growth.

• 10-year total shareholder return of 8.8%, with US$105 million returned to shareholders over the decade.