H2O Innovation: Advancing Water Solutions with Ember Acquisition

In a major development for the water industry, H2O Innovation's shareholders have approved an arrangement with Ember SPV I Purchaser Inc., a private equity firm managed by Ember Infrastructure Management. The acquisition is set to strengthen H2O Innovation's position as a leading provider of water solutions. With the shareholders' support, the plan of arrangement under the Canada Business Corporations Act will proceed.

The approval from approximately 99.03% of the votes cast by shareholders underscores the recognition of Ember's expertise and the potential for growth in the water industry. The arrangement will see Ember acquire all issued and outstanding common shares in H2O Innovation, except for those held by Investissement Québec, Caisse de dépôt et placement du Québec, and select executives of the corporation. Each share will be valued at C$4.25 in cash.

The completion of the arrangement is contingent upon customary conditions, including the final order from the Superior Court of Québec. The transaction is expected to close in the fourth quarter of 2023. This significant milestone opens up new opportunities for H2O Innovation as it continues to develop innovative water technologies and services.

H2O Innovation is a complete water solutions company driven by a commitment to innovation. The corporation operates in three main areas:

1. Water Technologies & Services (WTS): This division leverages membrane technologies and engineering expertise to deliver cutting-edge equipment and services to municipal and industrial water, wastewater, and water reuse customers.

2. Specialty Products (SP): H2O Innovation's SP segment focuses on manufacturing and supplying a comprehensive range of specialty chemicals, consumables, and engineered products for the global water treatment industry.

3. Operation & Maintenance (O&M): The O&M division provides contract operations and associated services for water and wastewater treatment systems, ensuring efficient and reliable operations.

Through these pillars, H2O Innovation strives to simplify water by offering best-in-class technologies and services to its customers. The company's commitment to innovation and its ability to deliver sustainable water solutions have established its reputation in the industry.

The arrangement with Ember SPV I Purchaser Inc. represents a significant strategic move for H2O Innovation. Ember Infrastructure Management, a New York-based private equity firm, brings extensive expertise and resources to the table, which will further accelerate H2O Innovation's growth and enhance its competitive advantage. The synergies resulting from this partnership will enable H2O Innovation to unlock new opportunities and expand its global footprint.

As the agreement moves forward following shareholder approval, H2O Innovation will continue to focus on executing its strategies, achieving its objectives, and delivering value to its customers. The corporation's management remains committed to its path of innovation and ensuring the highest standards in water treatment technologies and services.

As with any transaction of this nature, there are some uncertainties. H2O Innovation acknowledges that forward-looking statements involve risks and other factors that may cause actual results to differ materially from future expectations. While the Corporation believes that the assumptions it has made are reasonable, changes in circumstances beyond its control could impact the outcome of the arrangement.

H2O Innovation emphasizes that it will continue to operate as a publicly-traded entity, with its business and strategic relationships intact. While the completion of the arrangement may result in some adjustments, the company remains committed to its customers, employees, and partners. H2O Innovation's management will continue to monitor the situation closely and provide updates as necessary.

In summary, H2O Innovation's shareholders have shown overwhelming support for the arrangement with Ember SPV I Purchaser Inc. This transaction positions H2O Innovation for further growth and success in the water industry. With a focus on innovation and a commitment to simplifying water, H2O Innovation is well-positioned to deliver on its mission of providing best-in-class technologies and services to its customers around the world.

For more information about H2O Innovation and its water solutions, please visit [www.h2oinnovation.com](https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.h2oinnovation.com&esheet=53863679&newsitemid=20231128470386&lan=en-US&anchor=www.h2oinnovation.com&index=4&md5=bab1103a1296a6981bf125cf5a8f4d2a).

Source: H2O Innovation Inc.