Boralex's CFO Departure Marks a New Chapter for the Company

Boralex CFO Transition Sparks New Opportunities

In a significant business development, Boralex Inc. (TSX: BLX) has announced the departure of its Chief Financial Officer, Bruno Guilmette, after nearly seven fruitful years with the company. Exciting new challenges await him as he transitions to a new opportunity. To ensure a seamless transition, Mr. Guilmette will continue in his role until September 12, allowing for stability during this period of change.

Bruno Guilmette's Impact on Boralex

Bruno Guilmette, recognized for his strong leadership and strategic vision, has had a profound impact on Boralex’s growth strategy over the last six years. His tenure has been marked by robust financial management and a commitment to expanding the company’s market presence. Under his guidance, Boralex has doubled in size, completing critical transactions, including a notable partnership with Energy Infrastructure Partners for a 30% stake in its operating assets in France. This approach laid a solid financial foundation crucial for the company's ambitious 2030 Strategy.

Stéphane Milot: The New Executive Financial Leader

Stepping into the role of Executive Vice President and Chief Financial Officer on September 13, 2025, is Stéphane Milot, who previously held the position of Vice President of Investor Relations and Financial Planning & Analysis. Milot’s extensive experience within Boralex and his collaborative work with Mr. Guilmette position him well to carry forward the company’s financial objectives and ensure continuity. His leadership is expected to maintain the momentum Boralex has achieved in recent years.

A Fond Farewell from Mr. Guilmette

Mr. Guilmette expressed gratitude for his time at Boralex, noting the strength and commitment of the team he leaves behind. He emphasized the company's strong financial health and its readiness to capitalize on future opportunities amidst ongoing strategic initiatives. His confidence in Mr. Milot and the team's capabilities is a testament to the collaborative spirit fostered at Boralex, indicating a promising direction for the company’s future.

Looking Ahead: A Strong Future for Boralex

As Boralex transitions into this new phase, the company is actively seeking to appoint a permanent successor to the CFO position. This recruitment will focus on identifying both internal and external candidates who can bring innovative and inspiring leadership to the executive team. The aim is to uphold the financial discipline and growth momentum cultivated under Mr. Guilmette’s tenure, ensuring Boralex remains poised for continued success.

About Boralex

Boralex has been at the forefront of renewable energy for over three decades, championing affordable and accessible energy solutions. As a leader in the Canadian market and France's largest independent producer of onshore wind power, Boralex continues to expand its reach, with assets also located in the United States and upcoming projects in the United Kingdom. The company has seen over a 50% increase in its installed capacity to 3.2 GW in the past five years, while actively developing an 8.2 GW portfolio in wind, solar, and energy storage projects. Boralex’s commitment to sustainable growth reflects its dedication to combating global warming through innovative and responsible practices.

In essence, Boralex stands ready to navigate the future with resilience and an unwavering focus on its strategic goals, backed by a solid and diverse leadership team.

Frequently Asked Questions

Who is the new CFO of Boralex?

Stéphane Milot will step into the role of Executive Vice President and Chief Financial Officer effective September 13, 2025.

How long did Bruno Guilmette serve as CFO?

Bruno Guilmette served as CFO of Boralex for nearly seven years.

What strategic goals is Boralex focusing on?

Boralex is focusing on its 2030 Strategy, which aims to enhance its financial structure and expand its renewable energy portfolio.

What has been a significant achievement during Guilmette's tenure?

During his tenure, Boralex doubled its size and concluded a significant partnership with Energy Infrastructure Partners in France.

How does Boralex plan to maintain its financial momentum?

The company is actively recruiting for a new CFO who will continue the financial discipline and growth strategies initiated by Mr. Guilmette.

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