Gaz Metro Announces Retirement of Pierre Despars, Executive Vice President, Corporate Affairs and Chief Financial Officer for the End of 2017

MONTRÉAL, QUÉBEC--(Marketwired - Aug. 11, 2016) - Gaz Métro inc. (« GMi ») today announced that Pierre Despars, Executive Vice President, Corporate Affairs, and Chief Financial Officer, will retire at the end of 2017. Éric Lachance, currently with the Caisse de dépôt et de placement du Québec, will join Gaz Métro at the beginning of 2017 and will be appointed the company's Chief Financial Officer at the end of the transition period, during which time Mr. Despars will remain on board in his current role.

Overview of Valener

Valener is a widely held public company that serves as the investment vehicle in Gaz Métro. Through its investment in Gaz Métro, Valener offers its shareholders a solid investment in a diversified and largely regulated energy portfolio in Québec and Vermont. As a strategic partner, Valener, on the one hand, contributes to Gaz Métro's growth, and on the other, invests in wind power production in Québec alongside Gaz Métro. Valener favours energy sources and uses that are innovative, clean, competitive and profitable. Valener's common shares and preferred shares are listed on the Toronto Stock Exchange under the "VNR" symbol for common shares and under the "VNR.PR.A" symbol for Series A preferred shares. www.valener.com.

Overview of Gaz Métro and Gaz Métro inc.

Gaz Métro inc. mainly holds an economic interest of approximately 71% in Gaz Métro, for which it acts as the General Partner and a financing vehicle.

With more than $7 billion in assets, Gaz Métro is a leading energy provider. It is the largest natural gas distribution company in Québec, where its network of over 10,000 km of underground pipelines serves 300 municipalities and more than 200,000 customers. Gaz Métro is also present in Vermont, producing electricity and distributing electricity and natural gas to meet the needs of more than 310,000 customers. Gaz Métro is actively involved in the development and operation of innovative, promising energy projects, including natural gas as fuel, liquefied natural gas as a replacement for higher emission-producing energies, the production of wind power, and the development of biomethane. Gaz Métro is a major energy sector player that takes the lead in responding to the needs of its customers, regions and municipalities, local organizations and communities while also satisfying the expectations of its partners (Gaz Métro inc. and Valener Inc.) and employees. www.gazmetro.com.

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