Agreement

Press release

Saint-Gobain and Boralex sign a long-term renewable electricity purchase agreement in France

Paris (France), November 7, 2024 - Boralex Inc. ("Boralex") (TSX: BLX) and Saint-Gobain (EPA: SGO) have announced the signing of a 20-year renewable electricity purchase agreement ("Power Purchase Agreement" or PPA) in France, involving three power plants developed, built, and operated by Boralex.

The combination of wind and solar technologies will provide Saint-Gobain's industrial operations in France with a renewable electricity supply, offering greater stability through the complementarity of these two energy sources.

Thanks to this PPA, two solar power plants and one wind farm will come online between the first quarter of 2026 and the first quarter of 2027. These three parks will produce approximately 110 GWh per year, which is equivalent to the annual electricity consumption of more than 50,000[1] inhabitants and are expected to cover 10% of Saint-Gobain's electricity needs in France.

Claire Pedini, Senior Vice-President, Human Resources and Corporate Social Responsibility for Saint-Gobain, said: "This agreement marks a further step in our strategy to decarbonize our operations in France. Thanks to this collaboration with Boralex, we will not only be able to secure a long-term supply of renewable energy, but above all support our industrial sites across the country in their energy transition. This agreement is a further illustration of our commitment to leading industry towards a more sustainable future."

Nicolas Wolff, Executive Vice President and General Manager of Boralex in Europe stated: "This PPA illustrates our ability to offer tailored solutions to our customers, based on our diversified wind and solar portfolio. We are delighted with this new partnership, which is based on a relationship of trust. It will enable Saint-Gobain to secure competitive and sustainable energy over 20 years whilst contributing to a successful energy transition."

About Saint-Gobain

Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group's commitment is guided by its purpose, "MAKING THE WORLD A BETTER HOME".

€47.9 billion in sales in 2023

160,000 employees, locations in 76 countries

Committed to achieving net zero carbon emissions by 2050

For more information about Saint-Gobain, visit www.saint-gobain.com and follow us on X @saintgobain

About Boralex

For over 30 years, Boralex has been providing affordable renewable energy for all. As a leader in the Canadian market and the largest independent onshore wind producer in France, we also operate in the United States and the United Kingdom. Over the past five years, our installed capacity has more than doubled and now stands at over 3 GW. We are developing a project portfolio of nearly 6.7 GW in wind, solar, and storage, driven by our values and corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex actively contributes to the fight against climate change. With our boldness, discipline, expertise, and diversity, we remain an industry benchmark. Boralex shares are traded on the Toronto Stock Exchange under the symbol BLX.

For more information, visit boralex.com or sedarplus.com. Follow us on Facebook, Twitter, LinkedIn and Instagram.