W-1Report - Redacted
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2.1 GENERAL BTY has received a copy of the final executed versions of the Credit Agreement, dated December 19, 2025, the Management Services Agreement ("MSA"), dated March 4, 2025. BTY has received executed copies of the ROW Clearing Agree...
AI summary BTY has received copies of several agreements and reports related to construction and financing for a project, including a Credit Agreement, Management Services Agreement, and various construction contracts. BTY has also received monthly construction reports but did not receive a draw request for the current period, with costs being funded from other sources.
2.2 KEY INPUTS Site Visit Details Comments Date of site visit N/A BTY did not visit the site as there were no active construction activities ongoing. Project Schedule Financial Close December 19, 2025 Achieved Onslow Substation Constructio...
AI summary The document outlines the key inputs for a project, including the project schedule, financial close dates, substation construction completion dates, and transmission line completion dates. The project is on schedule, and the original budget matches the current forecast final cost. The Borrower will fund project costs using alternative sources of funding.
TRANSMISSION LINE - x ROW clearing from Onslow Substation to NS-NB border nearing completion; and - x Mobilization ongoing.
AI summary The transmission line project is progressing with ROW clearing near completion and mobilization activities ongoing.
ONSLOW SUBSTATION x ROW clearing for substation expansion complete.
AI summary The ROW clearing for the Onslow Substation expansion has been completed, marking a significant step in the project's development.
The Project Lenders on behalf of Wasoqonatl Transmission Incorporated Wasoqonatl Transmission Line Report Number 4 June 17, 2026 Activity ScheduledDate Status Line L8006 (Onslow to NS/NB Border) Substantial Completion On Schedule Line L322...
AI summary The document outlines the scheduled completion dates and current status of various transmission line and substation projects by Wasoqonatl Transmission Incorporated. BTY Consultancy Group Inc. believes the schedule is achievable.
SALISBURY SUBSTATION - x Mobilization complete; and - x Installation of temporary facilities ongoing.
AI summary The Salisbury Substation project has completed mobilization, and the installation of temporary facilities is currently ongoing.
The Project Lenders on behalf of Wasoqonatl Transmission Incorporated Wasoqonatl Transmission Line Report Number 5 July 16, 2026 Activity ScheduledDate Status Tower Deliveries Complete On Schedule Insulator Deliveries Complete On Schedule...
AI summary The document outlines the progress of various construction activities for the Wasoqonatl Transmission Line project, indicating that all listed activities are on schedule. BTY Consultancy Group Inc. expresses confidence in the feasibility of the schedule.
RE: Wasoqonatl Transmission Line Project Independent Engineer Status Report #6 Borrower Administrative Agent 1223 Lower Water Street 7th Floor, Atrium on Bay, 595 Bay Street Please find attached our Independent Engineer Status Report #6 fo...
AI summary This document provides an Independent Engineer Status Report #6 for the Wasoqonatl Transmission Line Project, covering the period up to June 30, 2026. It is submitted by BTY Group to the Borrower Administrative Agent, and it is presented as satisfactory for current requirements.
There are no major design and construction issues on the Project at this point in time. The Borrower has completed the majority of the ROW clearing in NS, and has commenced access road construction. The Construction Contractor has started...
AI summary The Project is progressing with no major design or construction issues. The Borrower has completed most of the ROW clearing in Nova Scotia and has started access road construction. The Construction Contractor has initiated earthworks at the substations.
2.5 CONCLUSIONS Based on the information received by BTY and reported within this Independent Engineer Status Report, BTY is of the opinion that the Project can be completed for the total Project Budget of $684,684,600 (including AFUDC and...
AI summary BTY concludes that the Project can be completed within the total budget of $684,684,600, including AFUDC and grants, with a commercial in-service date before October 10, 2028.
MEMRAMCOOK SUBSTATION - x Mobilization complete; and - x Installation of temporary facilities complete; and - x Site works progressing.
AI summary The MEMRAMCOOK SUBSTATION project has completed mobilization and the installation of temporary facilities, with site works currently in progress.
The Project Lenders on behalf of Wasoqonatl Transmission Incorporated Wasoqonatl Transmission Line Report Number 6 August 20, 2026 Activity ScheduledDate Status Financial Close 19-Dec-25 Achieved Material Procurement Substation Breakers De...
AI summary The document outlines the current status of various activities related to the Wasoqonatl Transmission Line project, indicating that some tasks have been completed or are on schedule, while others are delayed. BTY Consultancy Group Inc. believes the schedule is achievable.
The following table outlines the current status of permits for the Project: Permit Name Status Letter of Offer for Easement on Crown Lands Received Raptor Nest Removal Permit No longer required Heritage Research Permits Received Wetland Al...
AI summary The document outlines the current status of permits for a power transmission project, indicating that several permits have been received, while others remain pending. BTY Consultancy Group Inc. does not have concerns about the remaining permits.