Algonquin Power & Utilities Corp. – Management’s Discussion & Analysis x The above related party transactions have been recorded at the exchange amounts agreed to by the  parties to the transactions. i)  Rattlebrook hydroelectric generating facility  ii)  St. Leon wind power generating facility  iii) Brampton Cogeneration Inc. iv) Long Sault Rapids hydroelectric generating facility  v) Chartered aircraft vi) Office lease Business Associations with APMI and Senior Executives  There have been a number of business relationships between Ian Robertson and Chris Jarratt (“Senior  Executives”), APMI and related affiliates (collectively the “Parties”) and APUC. These relationships include  joint ownership of certain generating facility assets, business relationships between the parties and payment  of fees associated with previous transactions. In 2011, the Board initiated a process to review all of the  remaining business associations with the Parties in order to reduce, streamline and simplify these  relationships. The Board formed a special committee and engaged independent consultants to assist with  this process. The co-owned assets and remaining business associations as at December 31, 2012 are listed below. During the quarter ended March 31, 2012, APUC and the Parties reached an agreement to resolve a number  of the business associations and relationships (the “Agreement”). The transaction is subject to finalization of  definitive agreements which are expected to be completed in the first quarter of 2013. A more detailed  description of the Agreement has been set out below in S ettlement of Other Business Associations . Rattlebrook is a 4 MW hydroelectric generating station owned 45% by APUC, 27.5% by Senior  Executives and the remaining percentage by third parties. This relationship was addressed pursuant to  the Agreement. See S ettlement of Other Business Associations  below for more details.  St. Leon is a 104 MW wind power generating facility which was structured as a limited partnership and  has issued Class B units to external parties and Senior Executives. APUC and the Class B unit holders  completed a transaction effective January 1, 2013 whereby the Class B units were exchanged for Class  C preferred shares of APUC. The characteristics of the Class C preferred shares will provide  approximately the same after tax cash to individuals holding such shares as what was estimated to have  been expected from the Class B units. The external parties and Senior Executives who formerly held  the Class B units are no longer partners in the St Leon limited partnership. The special committee of  the Board retained the services of an independent advisor to review the historic financial performance of  the St Leon facility, provide a valuation of the Class B units, provide estimation of distributions to Class  B unit holders, and to provide advice to APUC in respect thereof.  BCI is an energy supply facility which sells steam produced from APCo’s EFW facility. APMI maintains  a carried interest equal to 50% of the annual returns on the project greater than 15%. No amounts have  ever been paid under this carried interest. In 2008, APMI earned a construction supervision fee of $100  in relation to the development of this project which has been accrued. This relationship was addressed  pursuant to the Agreement.  Long Sault is a hydroelectric generating facility in which APUC acquired its interest in the facility by way  of subscribing to two notes from the original developers. An affiliate of APMI is one of the original  partners in the facility and is entitled to receive 5% of the equity cash flows commencing in 2014. This  relationship was addressed pursuant to the Agreement.  APUC utilizes chartered aircraft owned by an affiliate of APMI. At December 31, 2012, the remaining  amount of the advance was $nil (December 31, 2011 - $279).  APUC has leased its head office facilities on a triple net basis from an entity partially owned by Senior  Executives. The lease expires on December 31, 2015. 2012 Annual Report 56