Atlantic Power & Infrastructure Corp. (AWSL)

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Chairman’s Address to Shareholders
...2014 was another great year for Atlantic. 2015 is shaping up to be even brighter.

I am pleased to report Atlantic continued its sales and earnings growth established over the past five years. Sales growth continued with sales up 38 % to $5,409,135.00 and profitability up substantially to 2,410,768.00 representing a 1,138% improvement for the same period.

Operating expenses dropped for the 6th straight year to 542,355.00 down 46.6% from the previous year.?

The balance sheet was improved significantly with the reduction of accounts payables and accounts receivables 45.4% and 53.7% respectively.

Total liabilities were reduced to 2,267,031 down 53% against total assets of 4,407,107.

This was despite the foreign exchange hit on Canadian dollar derived sales. We are very proud at the work we have done to strengthen our balance sheet, continue to cut cost while still growing our sales pipeline and I thank our team for their dedication and commitment.

I am very pleased with 2014 and prospects for the future at home and internationally.

Finally I would also like to express my deep appreciation to our suppliers, affiliates, consultants, and co-workers and shareholders for all their continued support.

Sincerely,
Gilles .Trahan
Gilles A. Trahan Chairman