Just Energy Group Inc. has entered into a stalking horse transaction agreement (the "Stalking Horse Transaction Agreement") and a support agreement (the "SISP Support Agreement") (both subject to Court approval) in connection with a proposed sale and investment solicitation process ("SISP") that is intended to facilitate its exit from the company's ongoing insolvency proceedings as a going concern. Upon execution of the SISP Support Agreement, Just Energy and the other parties thereto terminated the previously announced plan support agreement and backstop commitment letter that was entered into in connection with the previously announced proposed plan of compromise and arrangement (the "Plan"). Just Energy and certain of its affiliates (collectively, the "Just Energy Entities") filed a motion in its proceedings under the Companies' Creditors Arrangement Act (the "CCAA") before the Ontario Superior Court of Justice (Commercial List) (the "Court") on August 4, 2022 for an Order (the "SISP Order") that, among other things: (i) authorizes the Company to conduct the SISP with the assistance of BMO Nesbitt Burns Inc., as financial advisor, and FTI Consulting Canada Inc., as Court-appointed monitor (the "Monitor"), in accordance with the terms therein (the "SISP Procedures"), and (ii) approves the execution by the applicable Just Energy Entities of the Stalking Horse Transaction Agreement and the SISP Support Agreement, each of which are described further below.

The Just Energy Entities also intend to seek recognition in the U.S. of the SISP Order in their Chapter 15 cases.