(Information sent by the signatory company)

The company announces that the board of directors has managed to declare a quarterly dividend of $0.15 per share

Toronto, February 5, 2024.- Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris" or the "Company"), a Toronto-based company dedicated to the exploitation, acquisition and development of renewable energy projects in the Americas , is pleased to announce that its board of directors has declared a quarterly dividend of $0.15 per common share outstanding. This dividend will be paid on February 23, 2024 to shareholders of record as of the close of business on February 12, 2024. The dividend is an "eligible dividend" for Canadian federal, provincial and territorial income tax purposes. The board of directors of Polaris Infrastructure remains committed to paying a quarterly dividend and will evaluate further dividend increases, as appropriate, in the future.About Polaris Renewable Energy Inc. Polaris Renewable Energy Inc. (formerly Polaris Infrastructure Inc.) is a publicly traded Canadian company engaged in the acquisition, development and operation of renewable energy projects in Latin America. They are a high-performing and financially sound contributor to the energy transition. The company operates in 5 Latin American countries and includes one geothermal plant (~72 MW), 4 run-of-the-river hydroelectric plants (~33 MW) and 3 solar (photovoltaic) projects in operation (~35 MW).Cautionary Statements This press release contains certain "forward-looking information" that may include, but is not limited to, statements regarding future events or results, as well as management's expectations regarding the company's ability to continue distributing dividends in the future. Such forward-looking information reflects management's current beliefs and is based on information currently available to it. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts". , "intends", "aims", "intends", "anticipates" or "believes" or variations (including negative variations) of such words and phrases, or may be identified by statements to the effect that certain actions "may", " could", "should", "would", "could" or "will take place", occur or be achieved. Issuer: Polaris Renewable EnergyContactContact name: PolarisContact description: PolarisContact phone: 1 647-245-7199