ENCORE® SIGNS AGREEMENT WITH ALTUS POWER TO INSTALL SOLAR FARM

With the importance of sustainability as a collective responsibility, we can create a better future and do our part to create positive change and long-term opportunities for progress. With that in mind, we are thrilled to announce that Encore has entered into an agreement with Altus Power to build a solar farm on top of the buildings across the Hargrove campus. Once completed, this solar farm will cover all the power needs for Hargrove and ultimately return power credits to our supplying gas and utility company.

This agreement enables us to reduce Hargrove’s electric usage to zero. It’s the start of something bigger for Encore and Hargrove as well an approach we should be thinking about on behalf of our entire industry. And it’s one very significant way that we can come back better and stronger. Key highlights of the agreement include:

• • Output generated from the solar farm is expected to produce 5.8 megawatts annually
  • The facility currently uses approximately 3.2 megawatts annually. All of Hargrove’s power needs will be covered with the balance of power credits will be sold to Baltimore Gas and Electric (BGE)
  • Our D.C. operation and carbon footprint for electricity drops to zero
  • Once installed solar power will be fed directly into the BGE grid

The installation will begin early spring 2022 to be completed late summer, subject to regulatory and utility approvals, at the Encore and Hargrove D.C. region facility, our largest facility, which is home to over 250 team members and serves all areas of our business. It includes a full fabrication and graphic production facility, regional warehouse operation, full event production teams, in addition to one of our largest digital control centers and presentation studios in the U.S.

Due to the scale and nature of our operation, we identified it as a key location to press into the challenge we all face of reducing our carbon footprint.

“The event industry struggles with sustainability as a topic in general. Our partnership with Altus has provided us with a way to make an initial meaningful impact based on the size of our operations. In addition, we can lead our customers in their efforts to develop carbon minimizing strategies across their events,” said Tara Higgins President, Hargrove and Senior Vice President Commercial for Encore. “We have been creating events and experiences for 75 years and regularly share insights and best practices with event professionals everywhere. As we embark on this new venture, we look forward to sharing what we are learning as we create sustainable operations and to working side-by-side to futurescape the events industry.”

When operational at the end of summer 2022, subject to regulatory and utility approvals, the 360,000 square foot solar panel installation will generate enough energy for Hargrove’s entire business operation, while also adding 40% of the power generated to the power grid.

Scott Finlayson SVP, General Manager Hargrove added, “This office is our largest, and for the past year we have been looking at ways to build a path to full carbon neutrality. When reviewing ongoing projects and priorities, the solar farm quickly became a key initiative and our partnership with Altus has been critical in realizing this earlier than our initial planned timeframe.”

We look forward to sharing more news on this project and others.