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Caribbean Utilities Company, Ltd. is listed for trading in United States dollars on the Toronto Stock Exchange under the trading symbol “CUP.U”.

Grand Cayman, Cayman Islands – On August 1, 2025, Caribbean UtilitiesCompany, Ltd. (“CUC”) announced an agreed approach with the Utility Regulationand Competition Office (“URCO”) to address the pressing demand for increasedgenerating capacity in Grand Cayman. As part of this strategic alignment, CUCcommitted to withdraw its initial Certificate of Need (“CON”) submitted on June7, 2024. In conjunction with this withdrawal, URCO formally rescinded its FinalDetermination on CUC’s Certificate of Need issued on April 24, 2025. A keyfeature of this agreement was that solar generation coupled with battery storagemay be able to provide firm capacity subject to industry standard analysis.

In alignment with the recently established agreement, CUC is pleased to confirmthe submission of a new CON to the regulator for formal review.This updated filing outlines the generation resource requirements essential tomeet Grand Cayman’s projected energy demand with a need for additionalgeneration capacity to be in place by 2027.

CUC’s submission includes a comprehensive system analysis, detailed loadforecasts, and operational benchmarking designed to ensure sufficient capacityand energy availability by June 2027. The timeframe for supply of the neededcapacity is very short, and it is likely that interim measures may need to be takento fulfil the needs of the grid in the short term.

The new submission differs from the prior document in that the generationcapacity and reliability requirements are outlined but no specific technology isrecommended. Instead, it is anticipated that URCO will issue a Request forProposal (“RFP”) and bidders will be allowed to propose alternate resourcesolutions to meet that need.

CUC conducted additional analyses to provide URCO with an examplemethodology to evaluate the potential contribution of alternate generationsolutions, such as the Dispatchable Solar Photovoltaic (“DPV”) project, which wasrecently issued as a request for proposal, to support forecasted loadrequirements.

President and CEO, Mr. Richard Hew states:“CUC remains steadfast in its commitment to accelerating Grand Cayman’srenewable energy transition, ensuring that it is secure, affordable, and deliverslasting benefits to households, businesses, and communities we serve.”

Through continued collaboration, innovation, and investment in sustainabletechnologies, CUC is dedicated to building a resilient energy future thatpromotes economic prosperity, environmental stewardship, and ensuresaffordable, equitable access to energy for all. As we move forward, CUC remainsfocused on delivering solutions that meet today’s challenges while laying thefoundation for a cleaner, more sustainable tomorrow.

Caribbean Utilities Company, Ltd. (“CUC” or “the Company”), on occasion, includes forward-looking statements in its media releases, Canadian securities regulatory authorities filings, shareholder reports and other communications. Forward -looking statements include statements that are predictive in nature, depend upon future events or conditions, or include words such as “expects”, “anticipates”, “plan”, “believes”, “estimates”, “intends”, “targets”, “projects”, “forecasts”, “schedule”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. Forward -looking statements are based on underlying assumptions and management’s beliefs, estimates and opinions, and are subject to certain risks and uncertainties surrounding future expectations generally that may cause actualresults to vary from plans, targets and estimates. Such risks and uncertainties include but are not limited to operational, general economic, market and busine ss conditions, regulatorydevelopments and weather conditions. CUC cautions readers that actual results may varysignificantly from those expected should certain risks or uncertainties materialize or shouldunderlying assumptions prove incorrect. Forward -looking statements are provided for thepurpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company disclaims any intention or obligation to update or revise any forward – looking statements, required by law.

The Certificate of Need can be found on the CUC website at https://www.cuc-cayman.com/regulatory-submissions.