Primary Energy is governed by a 5 member board of directors. Three of the directors, including the chair, are independent.

Biographies

A. Michel Lavigne, Chair of the Board of Directors: Mr. Lavigne is a director of the Caisse de dépôt et placement du Québec and Quebecor Media. Until May 2005, he served as President and Chief Executive Officer of Raymond Chabot Grant Thornton in Montreal, Quebec, Chairman of the Board of Grant Thornton Canada and was a member of the Board of Governors of Grant Thornton International. Mr. Lavigne is a fellow of the Order of Chartered Accountants of Quebec and a member of the Canadian Institute of Chartered Accountants. He received his Certification en Science Administratives from the Ecole des Hautes Études Commerciales in Montreal, Quebec in 1972.

Celia M. Cuthbertson: Ms. Cuthbertson, a corporate lawyer, is the corporate secretary of Home Equity Income Trust, a public entity listed on the Toronto Stock Exchange. In addition to her corporate secretarial responsibilities, she advises senior management and the Board of Directors of Home Equity Income Trust on corporate governance and other legal matters. Ms. Cuthbertson also consults with Executive Risk Services, a Canadian company dedicated to identifying and reducing the risks incurred by boards of directors and executives of public and private corporations and income trusts. Prior to joining Home Equity, Ms. Cuthbertson was an executive compensation consultant with Mercer Human Resources Consulting. She gained securities regulatory experience as a lawyer with the Capital Markets, Corporate Finance and General Counsel divisions of the Ontario Securities Commission, as well as in private practice at Smith, Lyons, Torrance, Stevenson and Mayer.

Christopher H. Pickwoad: Mr. Pickwoad has been the Executive Vice President, Chief Financial Officer and a Director of Novamerican Steel Inc. since April 4, 1997. He has 24 years of experience in the steel industry and has been employed by Novamerican since 1982. Prior to 1982, he was a partner of a firm of Chartered Accountants, having obtained the designation of Chartered Accountant in 1963.

Brian Vaasjo: Mr. Vaasjo is President of EPCOR Power L.P. He joined EPCOR on June 1, 1998 as Executive Vice President and Chief Financial Officer. He was appointed Executive Vice President and President Energy Division on August 1, 2001. In April of 2005 Brian became responsible for all regional activities outside of Edmonton utility operations responsible for planning and major construction throughout the company. Prior to joining EPCOR, he spent 19 years with Enbridge Group of Companies. He holds an MBA from the University of Alberta where he also received his undergraduate degree. He is also a Certified Management Accountant (CMA). In addition, he is the Chairman of the Board of the United Way of the Alberta Capital Region, and is a member of the Financial Executives Institute of Canada.

John Prunkl: Mr. Prunkl is President of Primary Energy Ventures and serves on the Board of PERC. In this position he is responsible for day to day operations,engineering and optimization of existing plants. The operations team is also accountable for the engineering, procurement and construction of all new facilities. Prior to joining Primary Energy, in 2001 he co-founded and was a principal of MetroGen LLC, an energy company focused on aggregating standby generators in New York City and dispatching them into the electric marketplace during emergency periods. Prior to founding MetroGen, Mr. Prunkl was Vice President, Operations for Illinova Generating Company, the independent power subsidiary of Illinova Corporation. Mr. Prunkl had overall profit and loss responsibility for all domestic and international projects in operation and under construction. He also served as President of Illinova Resource Recovery, a subsidiary specializing in the generation of electric power from industrial waste byproducts. Before joining Illinova Generating in 1996, Mr. Prunkl held several management positions at GE Power Systems where his key responsibilities involved leading major commercial and technical negotiations for varied projects, including gas and steam turbines, combined cycles and turnkey power plants in the Asian and U.S. Markets. Mr. Prunkl received his MBA from J.L. Kellogg School of Management, Northwestern University in 1999 and his Bachelors of Science in Mechanical Engineering from Auburn University in 1990. He also holds a Bachelors of Arts degree in Mathematics from Huntingdon College.