Westbridge Announces Definitive Agreement for the Sale of Red Willow Solar Project and Highlights Improving Market Fundamentals in Alberta and Growing AI-Driven Demand Across North America

Westbridge Renewable Energy S.A. (TSXV: WEB) (OTCQX: WEGYF ) (FRA: PUQ) ("Westbridge" or the "Company") is pleased to announce that it has entered into a definitive share purchase agreement dated August 27, 2026 (the "Agreement") for the sale of its Red Willow solar-plus-storage project in Alberta (the "Transaction"), through the sale of all of the issued and outstanding shares of its wholly-owned subsidiary, Red Willow Solar Inc. ("Red Willow"). Summary of key terms Red Willow is an advanced-stage, utility scale solar-plus-storage project comprising a solar power plant of up to 225 MWac and a proposed 100 MW battery energy storage system, located in Stettler County No. 6 in central Alberta. The project's power plant and battery energy storage system have received power plant and substation approvals from the Alberta Utilities Commission (AUC), and the project holds an interconnection position in the Alberta Electric System Operator (AESO) process. Under the terms of the agreement, Westbridge will receive an upfront cash payment at closing, together with additional milestone payments. The total receivables should reach CAD $26.725m, if all the conditions in the agreement are met, comprising the following milestone payments: At closing, CAD $10,500,000 in cash, plus reimbursement or replacement of the GUOC amount equal to CAD $4,725,000; CAD $4,500,000 payable on the commercial operation date of the battery energy storage system; and An additional payment equal to CAD $25,000 per MWdc payable on the commercial operation date of the solar photovoltaic system, currently estimated at approximately CAD $7,000,000. The transaction is subject to customary closing conditions, including regulatory approvals and other conditions precedent. No finder's fees are payable in connection with the Transaction, and the Transaction is an arm's length transaction. The transaction represents another significant milestone in Westbridge's strategy of originating, developing and de-risking high-quality renewable energy and energy storage infrastructure projects while maintaining a diversified development pipeline across North America and Europe. Stefano Romanin, Chief Executive Officer of Westbridge, commented: "The sale of Red Willow represents another important validation of Westbridge's development and monetization strategy. Since establishing our Alberta platform, we have focused on siting projects in favorable locations with strong renewable resources, transmission access and long-term strategic value. Red Willow is an excellent example of that approach, and this transaction demonstrates continued demand for well-positioned renewable energy and energy storage assets. We remain focused on creating value by developing high-quality projects across our international portfolio." Improving Fundamentals and greater certainty for Alberta's Renewable Energy Market under the Canada-Alberta TIER agreement On May 15, 2026, Canada and Alberta finalized an Implementation Agreement establishing a long-term trajectory for Alberta's Technology Innovation and Emissions Reduction system through 2040. The framework maintains a carbon price of $95 per tonne in 2026, rising to $100 per tonne in 2027, $130 per tonne by 2035 and $140 per tonne by 2040. It also introduces a regulated minimum price for carbon credits beginning at $60 per tonne in 2030 and increasing to $110 per tonne by 2040. Potential electricity demand from large loads and data centres At the same time, prospective large-load transmission-service requests reported by the AESO have exceeded 16 GW, compared with Alberta's current system peak of approximately 12 GW. If this prospective demand is ultimately developed and connected, it could contribute to firmer electricity prices and improve the economics of new generation in the province. Solar generation paired with battery storage may have a role in supplying this additional demand alongside firm generation...