UNDERWRITING AGREEMENTUnderwriting Agreement • December 11th, 2014 • Algonquin Power & Utilities Corp. • Electric services • Ontario
Scotia Capital Inc. (“Scotiabank”), CIBC World Markets Inc. (“CIBC”, and together with Scotiabank, the “Joint Bookrunners”), BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., Desjardins Securities 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 10,055,000 Common Shares of the Corporation (the “Firm Securities”). In addition, the Underwriters understand that the Corporation proposes to grant to the Underwriters a one-time option (the “Over-Allotment Option”) to purchase additional Common Shares from the Corporation (the “Optional Securities”) for the sole purpose of covering over-allotments, in an amount equal to up to 15% of the number of Firm Securities (collectively, the Firm Securities and the Optional Securities are referred to as the “Purchased Securitie
