Breaking Down Algonquin Power & Utilities Cor Financial Health: Key Insights for Investors

Algonquin Power & Utilities Corp. (AQNB) stands at the nexus of essential services and sustainability, serving a network of 1.2 million customer connections across North America since its founding in 1997, and-following the strategic January 2025 divestment of its non‑regulated renewable business-has repositioned as a pure‑play regulated utility operating in 13 U.S. states, one Canadian province, Bermuda and Chile; guided by strategic pillars of growth, operational excellence and sustainability, AQNB's mission and vision commit to delivering clean energy and water solutions that boost safety, customer experience, employee engagement and environmental responsibility, while core values like integrity, safety, respect, customer centricity and an entrepreneurial spirit drive its daily decisions and long‑term decarbonization partnerships-inviting readers to explore how these concrete numbers, geographic reach and value statements translate into measurable impact for communities and investors alike.

Algonquin Power & Utilities Cor (AQNB) - Intro

• Customer footprint: over 1.2 million customer connections across North America.
• Geographic presence: operations in 13 U.S. states, one Canadian province, Bermuda, and Chile.
• Business model shift: in January 2025 AQNB completed the divestment of its non‑regulated renewable energy business and transitioned to a pure‑play regulated utility model.

• Growth - pursuing regulated growth opportunities and rate base expansion through acquisitions and capital investment in utility infrastructure.
• Operational excellence - driving reliability, customer service improvements, and cost efficiency across distribution and water systems.
• Sustainability - ensuring long‑term resilience of energy and water services while advancing low‑carbon, climate‑resilient infrastructure and stewardship of water resources.

• Mission: sustaining energy and water for life - providing safe, reliable, and affordable utility services that support healthy communities and economic activity.
• Vision: to be a leading regulated utility platform delivering essential services through disciplined growth, operational rigor, and responsible environmental stewardship.
• Core values: safety, integrity, accountability, customer focus, and sustainability.

• Regulated focus improves predictability of cash flows and aligns capital deployment with utility rate base growth and regulated recovery frameworks.
• Geographic diversification across multiple states and international jurisdictions spreads regulatory and weather‑related risk while enabling cross‑jurisdictional best practices.
• Post‑divestment, capital allocation and balance sheet priorities are expected to emphasize utility investment, reliability programs, and regulated acquisitions.

• Customers: reliable service delivery, responsive customer care, and investments to reduce outages and maintain safe water supplies.
• Investors: transparent reporting, disciplined capital allocation, and predictable dividends tied to regulated earnings.
• Communities & regulators: collaborative planning for climate resilience, water conservation, and infrastructure modernization to support public health and economic development.

Algonquin Power & Utilities Cor (AQNB) - Overview

• Core mission: Deliver clean energy and water solutions that enhance quality of life for customers and communities.
• Operational priorities: Safety, security, reliability, and operational excellence across generation and regulated utility operations.
• Decarbonization leadership: Partner with like‑minded corporate citizens to accelerate the transition to a low‑carbon economy.
• Sustainability embedding: Integrate environmental and social performance into business planning, investments and continuous improvement.

• Safety and reliability metrics: lost‑time injury rate reductions, system SAIDI/SAIFI improvements for regulated utilities.
• Customer experience: Net Promoter Score (NPS) and service reliability benchmarks aligned to top‑quartile utility performance.
• Employee and DEI outcomes: workforce engagement scores, diversity targets for leadership roles, and training hours per employee.
• Environmental impact: incremental MW of clean generation added annually, emissions intensity metrics, and renewable PPA activity.
• Financial stewardship: achieving stable cash flow from regulated businesses while growing merchant and contracted renewables to drive long‑term value.

Algonquin Power & Utilities Cor (AQNB) - Mission Statement

• Safety-first culture with continuous improvement programs aimed at reducing incidents and enhancing workforce well‑being.
• Operational excellence to ensure system reliability, resilience, and security for customers and communities.
• Accelerated decarbonization via renewable generation growth and partnerships that scale low‑carbon solutions globally.
• Customer-centric service models emphasizing accessibility, responsiveness, and quality for energy and water customers.
• Inclusive workplace practices promoting diversity, equity, and employee engagement across geographies.
• Disciplined financial management to support sustainable growth, capital allocation, and shareholder returns.

• Deliver clean energy and water solutions that create better everyday lives and inspire communities.
• Scale decarbonization via renewable buildouts, acquisitions, and partnerships focused on measurable emissions reductions.
• Be recognized for operational reliability and excellence in safety, security, and customer outcomes.
• Foster a workplace that values diversity, equity, inclusion, and meaningful employee engagement.

• Grow contracted and regulated cash flows through disciplined capital deployment and accretive acquisitions.
• Expand renewable capacity and low‑carbon service offerings to customers and corporate partners.
• Invest in grid and water system resiliency, cybersecurity, and emergency preparedness.
• Deliver measurable ESG outcomes-emissions, water stewardship, and community investment-with transparent reporting.
• Maintain financial strength via balanced capital structure, liquidity management, and predictable dividend policy.

Algonquin Power & Utilities Cor (AQNB) - Vision Statement

• Deliver safe, reliable, and affordable utility services while accelerating the transition to low-carbon energy.
• Expand regulated utility footprints and renewable generation through strategic acquisitions and organic development.
• Create long-term shareholder value via stable cash flows, conservative leverage, and a predictable dividend policy.

• Integrity - acting honestly, transparently, and in accordance with ethical standards across operations and governance.
• Safety - prioritizing the physical and psychological safety of employees, contractors, customers, and communities; encouraging speaking up when conditions appear unsafe.
• Respect - treating team members, customers, partners, and suppliers with mutual respect and cultural sensitivity.
• Customer Centricity - designing experiences and operational practices that foster positive internal and external customer outcomes and loyalty.
• Entrepreneurial Spirit - recognizing problems as opportunities, fostering resilience, resourcefulness, speed, and solution orientation.
• Outcome Focus - measuring impact through clear performance metrics and accountability for results.
• Teamwork & Trust - collaborating across functions and geographies with mutual trust to deliver complex projects.
• Inclusion - promoting diversity of thought and equitable participation in decision-making.

• Integrity & Trust: Governance and disclosure practices align with investor expectations for regulated utilities; integrity drives capital allocation discipline.
• Safety: Safety performance targets influence project approval, contractor selection, and daily operations-minimizing incidents and protecting workforce continuity.
• Customer Centricity: Rate-base investments and customer programs (demand response, resilience upgrades) prioritize customer reliability and satisfaction.
• Entrepreneurial Spirit: M&A and development pipelines reflect proactive opportunity-seeking-targeting contracted renewables and regulated utility acquisitions to diversify cash flows.
• Inclusion & Teamwork: Cross-functional teams and local stakeholder engagement are used to de-risk projects and accelerate permitting and interconnection.

• Accelerated renewables development and contracted PPAs to secure predictable cash flows and advance decarbonization targets.
• Investment in distribution modernization and resilience (e.g., grid hardening, smart meters) to improve customer outcomes and safety.
• Disciplined M&A focused on regulated utilities and contracted generation to balance growth with stability.
• Enhanced ESG reporting, stakeholder engagement, and DE&I programs to embed Inclusion and Respect into the corporate culture.