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Algonquin Algonquin Power & Utilities Corp. Announces 2021 Third Quarter Financial Results OAKVILLE , Ontario - November 11 , 2021 - Algonquin Power & Utilities Corp. ( TSX / NYSE : AQN ) ( " AQN ” or the " Company " ) today announced financial results for the third quarter ended September 30 , 2021. All amounts are shown in United States dollars ( " U.S. $ " or " $ " ) , unless otherwise noted . " We are pleased to report solid earnings in the third quarter , underpinning AQN's diversified and resilient business model , " said Arun Banskota , President and Chief Executive Officer of AQN . " We are excited about our recently announced agreement to acquire Kentucky Power Company and AEP Kentucky Transmission Company , Inc. This acquisition is expected to be a continuation of AQN's disciplined growth strategy , adding to our U.S. regulated footprint , and offers an opportunity for the Company to utilize its proven " greening the fleet ” capabilities , aligning with our commitment to advancing a sustainable energy and water future . " Q3 2021 Financial Highlights • Revenues of $ 528.6 million , an increase of 40 % compared to the third quarter of 2020 ; • Adjusted EBITDA¹ of $ 252.0 million , an increase of 27 % compared to the third quarter of 2020 ; • Adjusted Net Earnings¹ of $ 97.6 million , an increase of 11 % compared to the third quarter of 2020 ; and • Adjusted Net Earnings ¹ per share of $ 0.15 , in line with the third quarter of 2020 . Key Financial Information All amounts in U.S. $ millions except per share information 2020 Three Months Ended September 30 2021 Change Revenue Net earnings ( loss ) attributable to shareholders 528.6 376.5 40 % ( 27.9 ) 55.9 ( 150 ) % Per share Cash provided by operating activities Adjusted Net Earnings¹ Per share ( 0.05 ) 0.09 ( 156 ) % 174.7 121.4 44 % 97.6 88.1 11 % $ 0.15 $ 0.15 - % Adjusted EBITDA¹ 252.0 197.9 27 % Adjusted Funds from Operations¹ 170.2 148.0 15 % Dividends per share $ 0.1706 $ 0.1551 10 % 1. Please refer to " Non - GAAP Financial Measures " at the end of this document for further details . 2. Mid - 2022 estimate . 3. Mid - 2022 estimate , including AQN's pending acquisition of New York American Water Company , Inc. 4. Please refer to " Non - GAAP Financial Measures " at the end of this document for further details .