Polaris Infrastructure Inc. announced that it has extended the period of exclusivity to June 30, 2021 for the Memorandum of Understanding signed in 2020 to acquire the owner of a Panama-based 10 MW run-of-river hydro project called Chuspa from Navitas Holdings Inc. of Panama. While Covid-19 has pushed back the commencement of construction in Panama, Polaris is committed to continue with the strategic goal of continued growth and diversification. The recent announcement of the successful renegotiation and extension of key contract at San Jacinto has positioned the Company to pursue its key goals: Additional progress on corporate development and acquisition initiatives in the renewables sector; Optimization of the balance sheet given the recent contract extension and the relatively low level of Net Corporate Debt; Advancement of Carbon Credit certification process for 8 de Agosto and El Carmen hydro facilities in Peru to ensure all operating facilities are certified to sell credits. In addition to the contract renegotiation, and despite a challenging environment, in 2020 Polaris: Achieved a record level of total energy production on a consolidated basis as a result of the Peru plants becoming fully operational; Sustained full availability at all plants during Covid restrictions and experienced no cases amongst staff; Finished the year with a strong cash position of USD 63 million; Took the opportunity to augment corporate development and project finance teams in both Toronto and Latin America; Enhanced leading ESG strategies, policies and disclosures and continued excellent Health and Safety record.