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Canadian Utilities Fuels Calgary's Future with $201 Million Preferred Share Offering

Major Capital Infusion for Alberta's Energy Sector

Calgary-based Canadian Utilities Limited, an ATCO company, announced the successful closing of its public offering of Cumulative Redeemable Second Preferred Shares Series JJ on November 27, 2025. The issuance of 8,050,000 Series JJ Preferred Shares generated gross proceeds of $201,250,000, including the full exercise of the underwriters' over-allotment option. These new shares commenced trading on the Toronto Stock Exchange (TSX) under the symbol CU.PR.K, with proceeds earmarked for essential capital expenditures and general corporate purposes. The company, overseen in part by Senior Vice President, Financial Operations Colin Jackson, employs approximately 9,100 people and manages $24 billion in assets globally.

Driving Local Economic Growth and Infrastructure

This significant financial injection directly supports substantial infrastructure projects critical to Calgary and Alberta's economic landscape. Canadian Utilities' ATCO Energy Systems segment is a key player in electricity and natural gas transmission and distribution. Locally, these investments fuel major initiatives like the $2.8 billion Yellowhead Pipeline Project (slated for 2026) and the $280 million Central East Transfer-Out (CETO) Project, expected to be energized by June 2026, which will support renewable energy integration. Such large-scale development translates into job creation and economic stimulus, aligning with Calgary Economic Development's vision and the Alberta Energy Transition Study's projections for significant job and GDP growth by 2050.

The company's strategic investments are unfolding within a dynamic regulatory environment. Recent provincial legislative proposals, including Bill 8, the "Utilities Statutes Amendment Act, 2025," aim to modernize Alberta's electricity market and streamline approvals for critical infrastructure like data centres. Concurrently, the NDP's Bill 203, the "Energy Storage Planning for Investment Act," signals a push for a coordinated battery deployment strategy to enhance grid reliability. These policy shifts directly influence Canadian Utilities' operational strategies and capital allocation.

Aligning with Calgary's Climate Goals

Canadian Utilities' ongoing projects are also integral to Calgary's long-term planning, particularly the City's ambitious Climate Strategy: Pathways to 2050. Investments in initiatives like CETO, which facilitate renewable energy integration, directly support the city's commitment to a net-zero future. These infrastructure developments are crucial for bolstering community climate resilience and ensuring the energy network can support both traditional industries and emerging clean energy technologies.

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