Just Energy Group commences US$150 million at-the-market MJDS public offering of perpetual preferred shares

May 1, 2017

On May 1, 2017, Just Energy Group Inc. (TSX: JE) (NYSE: JE) entered into an at-the-market issuance sales agreement with FBR Capital Markets & Co. (“FBR”). Pursuant to the agreement Just Energy may, at its discretion and from time-to-time during the term of the agreement, offer and sell in the United States, through FBR, acting as the Company’s agent, 8.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares of the Company having an aggregate offering price of up to US$150 million.

Sales of the preferred shares may be made in the US by any method permitted by law deemed to be an “at-the-market” offering as defined in Rule 415 of the United States Securities Act of 1933, as amended, including without limitation sales made directly on the New York Stock Exchange, on any other recognized marketplace in the US upon which the preferred shares are listed or quoted or where they are traded in the US or to or through a market maker. No preferred shares sold in the offering will be distributed, offered or sold in Canada

The offering is being made by way of a prospectus supplement dated May 2, 2017, to the Company’s existing U.S. registration statement on Form F-10.

Just Energy is a leading retail energy provider specializing in electricity and natural gas commodities, energy efficiency solutions, and renewable energy options, with offices located across the US, Canada, the UK and Germany.

Miller Thomson is Canadian counsel to FBR in this transaction with a team led by Jay Hoffman and that includes Philip Long and Mack Hosseinian (corporate/securities) and Gerald Courage (tax).