UNDERWRITING AGREEMENTUnderwriting Agreement • March 3rd, 2014 • Algonquin Power & Utilities Corp. • Electric services • Ontario
CIBC World Markets Inc. (“CIBC”), TD Securities Inc. (“TD Securities”, and together with CIBC, the “Joint Bookrunners”), BMO Nesbitt Burns Inc., Desjardins Securities Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp. and Cormark Securities Inc. (individually, an “Underwriter” and collectively, the “Underwriters”) understand that Algonquin Power & Utilities Corp. (the “Corporation”) proposes to issue and sell 4,000,000 Series D Shares (as hereinafter defined) at a price of $25.00 per Series D Share, payable at the Time of Closing (as hereinafter defined) for an aggregate purchase price of $100,000,000 (the “Purchase Price”). Pursuant to the terms of this agreement, the Underwriters hereby severally, and not jointly or jointly and severally, offer to purchase from the Corporation, and by its acceptance of the offer made by this agreement, the Corporation agrees to sell to the Underwriters, at the Closing (as hereinafter defined
