Water Island Capital, LLC Issues Open Letter to Shareholders in Response to Misleading Claims Made by Pattern Energy Group, Inc. Board of Directors

NEW YORK,--(BUSINESS WIRE)--Water Island Capital, LLC (“Water Island”), the manager of investment funds beneficially owning 4,034,572 or 4.10% of Pattern Energy Group, Inc. (NASDAQ: PEGI) (“Pattern Energy”) common stock, issued an open letter today in response to the February 19, 2020, press release issued by Pattern Energy’s Board of Directors, which made a series of false and misleading claims about the merger with the Canadian Pension Plan Investment Board (the “CPPIB Merger”) and the process undertaken by the Pattern Energy Board in connection with the transaction.