Retail Supplier Announces Delay in Filing Annual Financial Statements and Application for Management Cease Trade Order

Just Energy Group Inc. ('Just Energy' or the 'Company') today announced that, "the Company is unable to file its annual filings, including the annual audited financial statements and management discussion and analysis for the year ended March 31, 2022 (the 'Annual Filings'), within the prescribed time period under applicable Canadian securities laws without unreasonable effort or expense because the Company needs additional time to complete its financial statements and related disclosures due to the Company’s ongoing proceedings under the Companies’ Creditors Arrangement Act (Canada) ('CCAA') and under Chapter 15 of the United States Bankruptcy Court for the Southern District of Texas."

"The Company has filed an application with the Ontario Securities Commission, its principal regulator, for a management cease trade order, in accordance with National Policy 12-203 - Management Cease Trade Orders ('NP 12-203'). If approved, this application would give the Company extra time of up to one month after July 29, 2022 to file the Annual Filings. There can be no certainty that a management cease trade order will be granted. The applicable regulatory authorities may instead determine to issue a full cease trade order against the Company. The Company intends to file the Annual Filings on or before August 12, 2022," Just Energy said

"The Company has established a blackout on trading of the Company’s securities by directors and officers in connection with the Annual Filings and intends to continue the blackout until such time as the Annual Filings have been filed," Just Energy said

"The Company confirms that it intends to satisfy the provisions of the alternative information guidelines found in Section 9 and 10 of NP 12-203 for so long as it is delayed in filing the Reporting Documents," Just Energy said