STEI and Entegrus Merger Approved June 5, 2017

Entegrus Powerlines Inc. and St. Thomas Energy Inc. are a step closer to becoming one company after receiving shareholder approval to merge from Chatham-Kent Council, St Thomas Council and Corix Energy Inc. on Monday night. Since announcing the proposed partnership in late 2016, both utilities have worked together to consult with customers, negotiate agreements and determine synergies for the merger.

Jim Hogan, President & CEO of Entegrus Inc., stated “the merger brings together two likeminded, locally focused utilities whose resources and skilled employees are dedicated to providing exceptional service to our customers. The merged company will be able to ensure a high level of service to our customers in an ever changing industry.”

With shareholder approval received, a Mergers, Acquisitions, Amalgamations and Divestitures (“MAAD”) application will be submitted to the Ontario Energy Board (OEB) this June. OEB approval is required before the merger can be completed.

Both utilities have strong track records of providing exceptional service to their customers, along with fair returns to their shareholders. This merger will enable the combined utility to deliver strong financial results, and in the longer term, lower rates than if the utilities continued to operate separately.

“The City of St. Thomas is very excited about this opportunity,” stated Heather Jackson, Mayor of the City of St. Thomas. “We believe that this will be a very successful business combination that will benefit the City of St. Thomas, and its residents as a whole.”

Chatham-Kent Mayor Randy Hope echoed Mayor Jackson’s support of the merger.
“We need to be able to attract businesses and residents, stated Hope. “This merger will set the stage for continued growth in this industry and in our communities.”

The merger will make Entegrus and St. Thomas Energy a stronger utility that will lead to efficiencies in operations, provide more opportunities for innovation, and to reduce costs to customers. Costs will be reduced by finding synergies, such as through shared IT platforms, combined purchasing power and sharing of assets.

“Local presence is very important to us,” added Hogan. “Both of our utilities have similar core values, and local ownership and community presence are items we all feel very strongly about.”

Continued local ownership & community presence, support for local initiatives and volunteer efforts, and
keeping the current service centers open in Chatham, Strathroy and St. Thomas were some of the
community benefits highlighted.

“Maintaining all three service centers will allow the merged utility to continue to respond to customer
requests, outages and emergencies in a timely manner,” stated Rob Kent, COO, St. Thomas Energy. “This
gives us the ability to pull additional resources from nearby communities when needed, and allows us to
keep our finger on the pulse of our respective communities, and their specific needs, by living and working
here.”

For further information on the merger visit www.poweringourpath.com

Media Contact:
Entegrus:
Sarah Regnier, Corporate Communications Specialist, Entegrus
519-352-6300 x 308, Cell: 226-229-0589 or sarah.regnier@entegrus.com

St. Thomas Energy:
Lisa Bayley, Executive Assistant & Board Secretary
519-631-4211 x 5230 or lbayley@ascent.ca