Algonquin Power & Utilities Corp. owns and operates  a $3.0 billion portfolio of diversified regulated and  non-regulated utility assets across North America.  Algonquin creates shareholder value through the  prudent investment in regulated and non-regulated  assets  delivering stable earnings and cash fl ows  coupled with the opportunity for growth.  Toronto Stock Exchange: Common Shares – AQN   Preferred Shares – AQN.PR.A www.AlgonquinPowerandUtilities.com 2012 Annual Report 3