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The Internal Revenue Service (“ IRS ”) and Department of the Treasury last week released final regulations (the “Final Regulations ”) relating to investment tax credits under Section 48 of the (the “ ITC ”) of the Internal Revenue Code (the “ Code ”). The release of the Final Regulations follows the issuance of proposed regulations in November 2023 (the “ Proposed Regulations ”), which we described here . The Final Regulations are available here . The Final Regulations largely adopt the Proposed Regulations, with a few exceptions. Mandatory applicability dates differ slightly between the various provisions of the proposed regulations, and the regulations provide some flexibility for taxpayers to apply them to projects that are already under construction or in service. The following provides a summary of several key points from the Final Regulations, including changes from the Proposed Regulations and areas where the Treasury Department and the IRS declined to make any changes that had been requested by some commenters. The Final Regulations for the ITC The Final Regulations contain a few key differences and confirmations from the Proposed Regulations, including: Qualified Interconnection Property. The Final Regulations retain the rule from the Proposed Regulations that the 5 MW (AC) limitation for qualified interconnection property is measured at the level of the energy property—rather than at the energy project level. The Final Regulations no longer require that reimbursements from a utility must be accounted for when determining ITC-eligible interconnection costs. Instead, the effect of reimbursements on ITC-eligibility is subject to general income tax principles and, accordingly, there may be some situations where reimbursement for interconnection costs may cause some interconnection costs to not be eligible for the ITC. The Final Regulations confirm that interconnection property is not subject to the prevailing wage and apprenticeship requirements, and is not taken into account in determining whether an energy property satisfies the requirements for the domestic content or energy community bonus credits. Revisions to Single Project Determination. In response to taxpayer concerns regarding the single project rule set forth in the Proposed Regulations, the Final Regulations contain several changes to provide taxpayers additional flexibility. First, rather than implementing an “ownership plus two factors” test for multiple energy properties to be treated as a single energy project under the Proposed Regulations, the Final Regulations now require “ownership plus four factors.” This should provide taxpayers with some relief for projects that were truly not single projects in the ordinary sense but would have been treated as a single project under the “ownership plus two factors” scheme of the Proposed Regulations. Second, the single energy project analysis may be assessed, at the taxpayer’s option, at any point during construction of the energy properties or during the taxable year the energy properties are placed in service. This will clearly help taxpayers to separate projects that are developed as one in early stages but are broken up and ultimately sold to unrelated taxpayers. Finally, the Final Regulations decline to adopt the “consistent treatment” rule contained in the Proposed Regulations that required multiple energy properties to be treated as a single energy project for purposes of the prevailing wage and apprenticeship requirements, domestic content bonus credit amount and energy community bonus credit amount if such energy properties were treated as a single energy project for beginning of construction purposes. Many commenters suggested that different types of energy property should not be susceptible to aggregation as a single energy project. For example, if solar and storage are combined as a single energy project, several commenters noted that it was not fair to test the combined property for eligibility for the domestic content adder. These commenters noted that in many cases the solar may qualify for the adder on a standalone basis, but when the analysis required a combination of solar and storage then neither energy property would qualify for the adder. The IRS and Treasury declined to adopt this request and, accordingly, multiple types of energy property technology are tested together for purposes of the single energy project determination, including application of the domestic content adder. In line with the above, the Final Regulations also clarify that an energy project will be deemed placed in service when the last energy property within the energy project is placed in service. This is a helpful clarification in connection with adders, including the energy community adder, eligibility for which is generally determined on the placed in service date for the energy project. 80/20 Rule. The IRS and Treasury received multiple comments to the application of the 80/20 rule, which generally outlines the requirements for retrofits of energy property for purposes of obtaining the ITC for the retrofit costs. Among the most impactful decisions, IRS and Treasury determined that energy property generally does not include equipment that is an addition or modification to existing energy property unless the rigorous 80/20 test is satisfied. Changes to Qualified Biogas Property. With respect to qualified biogas property, the Final Regulations clarify that gas upgrading equipment constitutes cleaning and conditioning property since such upgrading equipment is used interchangeably with cleaning and conditioning equipment that may be needed to make the biogas suitable for sale or productive use. As such, under the Final Regulations, gas upgrading equipment that is used to make the gas suitable for sale or productive use constitutes qualified biogas property eligible for the ITC. In addition, the Final Regulations clarify that combustion in the form of flaring will not disqualify a qualified biogas property from being eligible for the ITC, provided that the primary purpose of such qualified biogas property is sale or productive use of biogas and any flaring complies with all relevant laws and regulations. The Final Regulations also provide flexibility with respect to qualified biogas property ownership requirements. Because of the unique ownership structures in the biogas industry, in many cases the owners of the biogas production facility do not also own the associated waste feedstock collection system or landfill gas collection system. The Proposed Regulations essentially required that a taxpayer had to own both the biogas production facility and the associated collection systems; the Final Regulations change this rule by permitting separate ownership of these collection systems (which would not, if owned by a taxpayer unrelated to the owner of the conversion system, be eligible for the ITC). Calculation of Maximum Net Output for the 1 MW (AC) Exception to Application of the Prevailing Wage and Apprenticeship Requirements for the 30% ITC. The Final Regulations provide a new rule for energy properties that generate electricity in direct current. Under this new rule, a taxpayer may choose to determine the maximum net output of each energy property that is part of the energy project (in alternating current) by using the lesser of (1) the sum of the nameplate generating capacities within the unit of energy property in direct current, or (2) the nameplate capacity of the first component of property that inverts the direct current electricity into alternating current. However, in other respects the Final Regulations adopt the 1 MW (AC) exception as set forth in the Proposed Regulations. For example, the IRS and Treasury declined to adopt taxpayer comments that electrochromic glass property, fiber-optic solar energy property, and microgrid controllers should be eligible for the 1 MW (AC) exception notwithstanding that such property does not generate electrical or thermal energy. Accordingly, all of these properties must satisfy the prevailing wage and apprenticeship requirements to be eligible for the 30% ITC. In addition, the preamble to the Final Regulations includes confirmation regarding a handful of significant questions from commenters, including: Confirmation that energy storage technology is eligible for the ITC if it satisfies the requirements under Section 48 of the Code, even if the energy storage technology is co-located with or shared by a facility that is otherwise eligible for the tax credits under Sections 45, 45V, or 48 of the Code. Confirmation that Treasury Regulations Sections 1.45-7, 1.45-8 and 1.45-12, regarding the prevailing wage and apprenticeship requirements, are generally incorporated for the ITC by cross-reference.

Million Hearts® 2024 Hypertension Control Champions achieved blood pressure control for at least 80% of their adult patients Three Aledade Physician Partners Recognized for Exemplary Hypertension Control Million Hearts® 2024 Hypertension Control Champions achieved blood pressure control for at least 80% of their adult patients For their work battling the 'silent killer' - hypertension - a community health center in Arkansas and independent primary care practices in Delaware and Florida were recognized as Million Hearts® 2024 Hypertension Control Champions . Awarded jointly by the Centers for Disease Control and Prevention and the Centers for Medicare & Medicaid Services, the Million Hearts 2024 Hypertension Control Champions are highlighted for their "exemplar rates of hypertension control.” Practices that achieved blood pressure control for at least 80% of their adult patients with hypertension (also known as high blood pressure) received the award from Million Hearts, which has a goal to avert 1 million preventable cardiovascular disease events by the end of 2026. Only 32 health providers nationwide met the criteria. "We join the CDC in congratulating our partner practices for their commitment to do more good by achieving these exceptional levels of blood pressure control for their patient population,” said Ahmed Haque, chief performance officer at Aledade. "At Aledade, we are proud to partner with primary care clinicians so they can succeed in value-based care. Our three Hypertension Control Champions are shining examples of how we give our primary care partners the data and support they need to keep patients healthy.” About one in three adults in the United States has high blood pressure, but many don't realize it. High blood pressure is often referred to as the silent killer, according to the U.S. National Institutes of Health, because it usually has no warning signs, yet can lead to life-threatening conditions like a heart attack or stroke. Fortunately, high blood pressure often can be prevented or treated as early diagnosis. Simple, healthy changes can keep high blood pressure from seriously damaging a person's health. Aledade partners who were recognized as Million Hearts 2024 Hypertension Control Champions include: "Our mission is to provide the highest quality clinical services to all,” said Kerry Pennington, M.D., the clinical director of Mainline Health Systems, a community health center in Southeast Arkansas. "A big change for us occurred when we began to implement the correct processes to proactively monitor the health of our patients. Aledade has been a big part of that improvement as they gave us a platform to invest in improved outcomes. We are honored that this work is being reflected in our recognition as a Million Hearts 2024 Hypertension Control Champion.” About Aledade Aledade, a public benefit corporation , is the largest network of independent primary care in the country, helping independent practices, health centers and clinics deliver better care to their patients and thrive in value-based care. Through its proven, scalable model, which includes cutting-edge data analytics, user-friendly guided workflows, health care policy expertise, strong payer relationships and integrated care solutions, Aledade empowers physicians to succeed financially by keeping people healthy. Together with more than 1,900 practices, federally-qualified health centers and community health centers in 45 states and the District of Columbia, Aledade shares in the risk and reward across more than 200 value-based contracts representing more than 2.5 million patient lives under management. To learn more, visit www.aledade.com or follow on X (Twitter) , Facebook or LinkedIn . ### Attachment Three Aledade Physician Partners Recognized for Exemplary Hypertension Control CONTACT: Hiran Ratnayake Aledade (302) 299-3562 [email protected]Power Nickel Inc. (TSXV: PNPN) New 52-Week High's Amid Breakthrough Discoveries and Strategic Growth see more stocks inside....