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Following Unprecedented Winter Storm in Texas, Just Energy Files for Relief Under CCAA in Canada and Chapter 15 in U S and Has Arranged US$125 Million Debtor in Possession Financing

Following Unprecedented Winter Storm in Texas, Just Energy Files for Relief Under CCAA in Canada and Chapter 15 in U.S. and Has Arranged US$125 Million Debtor in Possession Financing Just Energy Group Inc. Mississauga, Ontario, CANADA All Services to customers across Company’s North American operations continue without interruption; no impact on customers’ bills or daily operations expected Filings and associated US$125 million Debtor in Possession (“DIP”) financing ensures Just Energy continues to meet its regulatory obligations in North America, including payments required by the Electric Reliability Council of Texas (“ERCOT”) Filings provide stability for the Company as it facilitates the restructuring of its financial obligations due to the impact of unprecedented winter storm on the business

Just Energy Seeks Bankruptcy After Texas Loss

Just Energy Seeks Bankruptcy After Texas Loss Bloomberg 3/9/2021 Paula Sambo (Bloomberg) Just Energy Group Inc. filed for court protection in Canada and bankruptcy in the U.S. after suffering crushing losses in the Texas blackouts that plunged millions of people into darkness and the region’s power sector into chaos. The Canadian retail energy seller, which specializes in electricity and natural gas, is at least the second company to seek court protection in the wake of the crisis. It recently emerged from a recapitalization plan and a board shakeup. Pacific Investment Management Co. is the largest shareholder with a 28.9% stake, according to data compiled by Bloomberg.

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