Enhanced Investments - Financial Portal

Published: 2020-02-27

					Alberta Securities Commission
					FORM 13-501F1
						CLASS 1 REPORTING ISSUERS and CLASS 3B REPORTING ISSUERS -
					PARTICIPATION FEE
					MANAGEMENT CERTIFICATION
I,	,						David Bronicheski
an officer of the reporting issuer noted below have examined this Form 13-501F1 (the Form) being submitted hereunder to the Alberta Securities Commission and certify that to my knowledge, having exercised reasonable diligence, the information provided in the Form is complete and accurate.
							(signed) David Bronicheski	February 27, 2020
Name:		Date					David BronicheskiChief Financial Officer
Title:
Reporting Issuer Name:				Algonquin Power & Utilities Corp.
End date of previous financial year:		December 31, 2019
Type of Reporting Issuer:								Class 1 reporting issuer	Class 3B reporting issuer
Highest Trading Marketplace:(refer to the definition of “highest trading marketplace” under ASC Rule 13-501 Fees )			Toronto Stock Exchange

Market value of listed or quoted securities:(in Canadian Dollars - refer to section 52 of ASC Rule 13-501 Fees )
Equity SymbolAQN
1	st Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Jan-2019	to	31-Mar-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such security was listed or quoted on the highest trading marketplace
				$15.030 (i)
Number of securities in the class or series of such security outstanding at the end of the last trading day of the specified trading period
			491,284,714 (ii)
Market value of class or series				(i) x (ii) =	$7,384,009,251.42 (A)
2	nd Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Apr-2019	to	30-Jun-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such security was listed or quoted on the highest trading marketplace
				$15.870 (iii)
Number of securities in the class or series of such security outstanding at the end of the last trading day of the specified trading period
			493,485,427 (iv)
Market value of class or series				(iii) x (iv) =	$7,831,613,726.49 (B)
3	rd Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Jul-2019	to	30-Sep-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such security was listed or quoted on the highest trading marketplace
				$18.140 (v)
Number of securities in the class or series of such security outstanding at the end of the last trading day of the specified trading period
			496,581,133 (vi)
Market value of class or series				(v) x (vi) =	$9,007,981,752.62 (C)
4	th Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Jan-2019	to	31-Dec-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such security was listed or quoted on the highest trading marketplace
				$18.370 (vii)
Number of securities in the class or series of such security outstanding at the end of the last trading day of the specified trading period
			524,223,323 (viii)
Market value of class or series			(vii) x (viii) =		$9,629,982,443.51 (D)
Average Market Value of Class or Series (Calculate the simple average of the market value of the class or series of security for each applicable specified trading period (i.e. A through E above))
					$8,463,396,793.51	(1)

Equity Symbol		AQN.PR.A
1	st Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Jan-2019	to	31-Mar-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such
security was listed or quoted on the highest trading marketplace				$20.380 (i)
Number of securities in the class or series of such security outstanding at the end of the last trading day of
the specified trading period			4,800,000 (ii)
Market value of class or series				(i) x (ii) =	$97,824,000.00 (A)
2	nd Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Apr-2019	to	30-Jun-2019
Closing price of the security in the class or series on the last
trading day of the specified trading period in which such
security was listed or quoted on the highest trading marketplace				$18.480 (iii)
Number of securities in the class or series of such
security outstanding at the end of the last trading day of
the specified trading period			4,800,000 (iv)
Market value of class or series				(iii) x (iv) =	$88,704,000.00 (B)
3	rd Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Jul-2019	to	30-Sep-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such
security was listed or quoted on the highest trading marketplace				$18.320 (v)
Number of securities in the class or series of such security outstanding at the end of the last trading day of
the specified trading period			4,800,000 (vi)
Market value of class or series				(v) x (vi) =	$87,936,000.00 (C)
4	th Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Jan-2019	to	31-Dec-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such
security was listed or quoted on the highest trading marketplace				$19.560 (vii)
Number of securities in the class or series of such security outstanding at the end of the last trading day of
the specified trading period			4,800,000 (viii)
Market value of class or series			(vii) x (viii) =		$93,888,000.00 (D)
Average Market Value of Class or Series (Calculate the simple average of the market value of the class or series of security for each applicable specified trading period (i.e. A through E above))
					$92,088,000.00	(2)

Equity Symbol		AQN.PR.D
1	st Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Jan-2019	to	31-Mar-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such
security was listed or quoted on the highest trading marketplace				$21.390 (i)
Number of securities in the class or series of such security outstanding at the end of the last trading day of
the specified trading period			4,000,000 (ii)
Market value of class or series				(i) x (ii) =	$85,560,000.00 (A)
2	nd Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Apr-2019	to	30-Jun-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such
security was listed or quoted on the highest trading marketplace				$20.500 (iii)
Number of securities in the class or series of such security outstanding at the end of the last trading day of
the specified trading period			4,000,000 (iv)
Market value of class or series				(iii) x (iv) =	$82,000,000.00 (B)
3	rd Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Jul-2019	to	30-Sep-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such
security was listed or quoted on the highest trading marketplace				$19.730 (v)
Number of securities in the class or series of such security outstanding at the end of the last trading day of
the specified trading period			4,000,000 (vi)
Market value of class or series				(v) x (vi) =	$78,920,000.00 (C)
4	th Specified Trading Period (dd/mm/yy)
(refer to the definition of “specified trading period” under
ASC Rule 13-501 Fees )	1-Jan-2019	to	31-Dec-2019
Closing price of the security in the class or series on the last trading day of the specified trading period in which such
security was listed or quoted on the highest trading marketplace				$20.460 (vii)
Number of securities in the class or series of such security outstanding at the end of the last trading day of
the specified trading period			4,000,000 (viii)
Market value of class or series			(vii) x (viii) =		$81,840,000.00 (D)
Average Market Value of Class or Series (Calculate the simple average of the market value of the class or series of security for each applicable specified trading period (i.e. A through E above))
					$82,080,000.00	(3)

Fair value of outstanding debt securities:
Details of how value was determined provided below	$934,627,182.00	(4)
Capitalization for the previous financial year			(1) + (2) + (3) + (4)	$10,268,863,975.51
Participation Fee
(For Class 1 reporting issuers (Paragraph 15(1)(a)), from Appendix A of				$42,500
ASC Rule 13-501 Fees , select the participation fee)
(For Class 3B reporting issuers (Paragraph 15(1)(c)), from Appendix B of		$0
ASC Rule 13-501 Fees , select the participation fee)
Late Fee, if applicable				$0.00
(As determined under section 34(1) of ASC Rule 13-501 Fees )
Total Fee Payable	$42,500.00
(Participation Fee plus Late Fee)
Calculation of fair value of outstanding debt securities - From 2019 Q4 Disclosures:
Bank of Canada daily CDN$/US$ exchange rate as of December 31, 2019: 1.2988
					2019 - US$	2019 - CDN $
							Convertible debentures	809,464
							Subordinated notes (2018)	324,185,000	421,051,478
							Subordinated notes (2019)	394,800,000	512,766,240
							Fair value of outstanding debt securities:	$	934,627,182
2019 - ASC Rule 13-501 Fees (Form 13-501F1)

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.