CanUtilities Holdings Ltd.

Canadian Utilities Limited (CU) is a holding company whose principal operating subsidiaries include the following: (1) CU Inc., regulated electric and gas transmission and distribution utilities and electricity-generation assets in Alberta that are subject to legislatively mandated long-term power purchase arrangements. This segment represents about 50% of CU’s earnings. (2) Midstream, project management, technology and information systems operations and non-regulated generation assets in Canada, the United Kingdom and Australia. These other subsidiaries represent about 50% of CU’s earnings.