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POLARIS POLARIS INFRASTRUCTURE ANNOUNCES Q2 2021 RESULTS TORONTO , ON ( August 5 , 2021 ) - Polaris Infrastructure Inc. ( TSX : PIF ) ( " Polaris Infrastructure " or the " Company " ) , a Toronto - based company engaged in the operation , acquisition and development of renewable energy projects in Latin America , is pleased to report its financial and operating results for the three- and six - months period ended June 30 , 2021. This earnings release should be read in conjunction with Polaris Infrastructure's consolidated financial statements and management's discussion and analysis , which are available on the Company's website at www.polarisinfrastructure.com and have been posted on SEDAR at www.sedar.com . The dollar figures below are denominated in US Dollars unless noted otherwise . HIGHLIGHTS • Quarterly consolidated energy production of 150,676 MWh ( net ) for the period ended June 30 , 2021 , of which 111,848 MWh ( net ) was contributed by the Company's geothermal facility in Nicaragua , known as the San Jacinto facility ( " San Jacinto " ) , and an aggregate of 38,828 MWh ( net ) was contributed by the Company's hydroelectric facilities in Peru , being the Canchayllo facility ( " Canchayllo " ) , the El Carmen facility ( " El Carmen " ) and the 8 de Agosto facility ( " 8 de Agosto " ) . • The Company generated $ 14.2 million in revenue from energy sales for the three months ended June 30 , 2021 , lower compared to the same period in 2020. This was the second quarter under the amended power purchase agreement's ( " PPA " ) price in respect of San Jacinto , which was the largest contributor to the decline in revenue . The lower PPA price was part of the broader negotiation with the Government of Nicaragua which included an extension of the concession period and inclusion of the binary unit . Lower production at San Jacinto was partly offset by higher production from the hydroelectric facilities in Peru . - - • Net earnings attributable to owners was $ 0.2 million or $ 0.01 per share I basic for the three months ended June 30 , 2021 , compared to net loss of $ 1.0 million or $ ( 0.07 ) per share basic in 2020. Net earnings increased due to other gains recorded during the period compared to other losses in 2020 partly offset by lower revenue . Adjusted EBITDA ( ¹ ) was $ 10.0 million for the three months ended June 30 , 2021 , compared to Adjusted EBITDA ( ¹ ) of $ 15.1 million in the same period in 2020 . • • • For the six months ended June 30 , 2021 , the Company generated $ 24.2 million in net cash flow from operating activities and $ 16.3 million in operating cash flow ( 1 ) , ending with a strong cash position of $ 106.5 million ( 2 ) . Consistent with its plans of maintaining a quarterly dividend , the Company declared and paid $ 2.9 million in dividends during the period ended June 30 , 2021. The Company will pay the twenty - second consecutive quarterly dividend of $ 0.15 per outstanding common share on August 27 , 2021 . On June 9 , 2021 , the Company announced that it had entered into an agreement to sell two tranches of Certified Emission Reductions ( “ CERS " ) generated in 2017 from San Jacinto for aggregate gross proceeds of approximately $ 400,000 . A total deposit of $ 100,000 was received . The sales are conditional upon receiving verification per the United Nation's Convention on Climate Change ( " UNFCCC " ) protocols . The