Company Announcements

The 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, Nov. 3, 2025 /CNW/ - Caribbean Utilities Company, Ltd. ("CUC or the "Company") is pleased to announce the publication of its 2025 Sustainability Update Report, reaffirming the Company's dedication to advancing its environmental, social, and governance ("ESG") initiatives. The report outlines key achievements made between January 1 and December 31, 2024, and highlights strategic actions designed to advance long-term sustainability across the Company's operations.  All figures in this press release are stated in United States Dollars.

Highlights include:

• Environmental
• Successfully commissioned Grand Cayman'sfirst utility-scale Battery Energy Storage System, of 20 megawatts ("MW").
• Accelerated efforts in system hardening and grid resiliency, including the strategic undergrounding of key transmission lines.
• 2025-2029 Capital Investment Plan includes $60.0 million in grid hardening, $6.6 million in customer energy efficiency and $2.6 million in low carbon transportation projects.
• Launched the Company's Green Financing Framework, earning an "Excellent" rating from a second-party opinion provider and issuing $50 million in Green Notes to fund impactful projects.
• The $50 million Green Notes were honoured with the Global Banking & Markets Latin America Award for Debt Deal of the Year-Caribbean.
• Social
• 50% of Board of Directors are female.
• Earned the prestigious Investors In People Gold certification for the third consecutive time.
• Company's staff completed over 26,000+ hours of training.
• Zero lost time injuries reported.
• Governance
• Increased dividend rate by 3% to $0.74.
• Earnings per share increased to $1.08.
• System Average Interruption Duration Index ("SAIDI") of just 1.8 hours, outperforming North American benchmark of 2 hours of average outage time per customer.

The report also includes third-party verification on the Company's Scope 1 Green House Gas emissions.

"While some companies and jurisdictions around the world are scaling back their sustainability efforts, we remain firmly committed to advancing ours. Over the past year, we've made meaningful progress in expanding energy transition and grid resiliency investments and delivering innovative solutions that help our customers live more efficiently and conserve energy.  Our goal is to continue working collaboratively to ensure we provide safe, reliable, and affordable service to our customers. I'm proud of the team's ongoing engagement as responsible corporate citizens and their dedication to supporting employee development and growth," said President and CEO, Mr. Richard Hew.

The Company remains deeply committed to supporting the Cayman Islands National Energy Policy's goals of 70% renewable energy penetration by 2037. To drive progress toward these ambitious targets, strategic emphasis will be placed on the Company's Energy Transformation and Affordability as well as its System Reliability and Resilience initiatives.

Looking ahead, CUC remains firmly focused on advancing renewable energy solutions while maintaining cost affordability for consumers. The Company is committed to working collaboratively with regulators and stakeholders to deliver an energy future that is not only sustainable and resilient, but also accessible and affordable for all. To access a copy of the report, please visit the Company's website at www.cuc-cayman.com.

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 inherent risks and uncertainties surrounding future expectations generally that may cause actual results to vary from plans, targets and estimates. Some of the important risks and uncertainties that could affect forward looking statements are described in the MD&A in the section labelled "Business Risks" and include but are not limited to operational, general economic, market and business conditions, regulatory developments and weather. CUC cautions readers that actual results may vary significantly from those expected should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect. Forward-looking statements are provided for the purpose 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, whether as a result of new information, future events or otherwise except as required by law. 

SOURCE Caribbean Utilities Company, Ltd.