#1Saskatchewan's Power Future Looking to 2035 and Beyond "SaskPower Saskatchewan#2Affordable and Reliable Power The Goal: Saskatchewan needs to ensure an affordable, reliable power supply while continuing to reduce GHG emissions within realistic timelines. Saskatchewan has low customer density and The Challenge: significant reliance on fossil fuel generating sources, making our challenge more significant than many other jurisdictions. Saskatchewan!#3Total Available Generating Capacity as at March 31, 2023 Alberta Northwest Territories H1 Stony Rapids NG1 Meadow Lake NG2 Lloydminster NG3 Prince Albert NG4 North Battleford NG6 NG5 NG10 Swift Current W1 Saskatoon NG7 NG8 H5 W7 Points North H2 H3 H4 11 NG9 W2 W3 Regina W4 $3 W5 $1 $2 W6 W8 Estevan Coronach C2 C3 United States of America Manitoba Capacity Available: 5,437 MW 40% Natural Gas 2,160 MW through 10 facilities. 25% Coal 1,389 MW through 3 facilities 16% Hydro 864 MW through 5 facilities 4 11% Wind 617 MW through 8 facilities 5% Power Agreements 290 MW generated 3% Solar + Other 117 MW through 3 facilities + net metering Saskatchewan'#4Where We Are Today 2023 Where We Need To Go 2035 iii 1.22 Million People 1.5 Million People $81.8B Economy (GDP) ◆ $108B Economy (GDP) 5,437 MW Available Generating Capacity 7,000+ MW Available Generating Capacity Saskatchewan#5The Federal Plan NET ZERO BY 2035 65% of Saskatchewan's current electricity production would need to be shut down $46 billion in capital cost between 2023-2035 107% increase to utility bills Saskatchewan would be unable to generate required power supply to meet demand Saskatchewan#6How We Got Here: Moving Goalposts Federal Liberal government announces plan for national carbon pricing that was not to exceed $50/tonne Natural gas-fired generation emission regulations setting emission intensity limits for new facilities 2016 2019 Canada commits to achieving net-zero by 2050 2020 2012 Federal Conservative government introduces regulations for the retirement of coal depending on the age of the unit and/or 50 years of operation 2018 Federal Liberal government amends regulations to remove 50 year consideration and comply with emission standards by 2030 Carbon tax comes into effect and will reach $170/tonne by 2030 2019/2020 2022 Canada introduces an emissions standard for the electricity sector, to reach net-zero emissions by 2035 ??? Anticipated publishing of the Clean Electricity Regulations 2023 2024 - 2035#7Saskatchewan's Plan: Affordable and Realistic NET ZERO BY 2050 Continued Emissions Reduction Incorporate nuclear power as part of energy mix Continue to incorporate wind and solar at an ambitious pace Leverage natural gas generation to ensure reliability Saskatchewan#8Saskatchewan's Plan: Affordable and Realistic Total cost between 2023-2035 with $28 B $22 billion from Saskatchewan and 75% $6 billion from federal government In provided grant funding from the federal government for the first SMR in Saskatchewan In addition: Stop any further increases to the carbon tax Better align regulatory flexibility expected within new U.S. policy direction Recognize Saskatchewan's plan to reach net-zero by 2050 Continue to use fossil fuel assets until end of life 50% In funding from the federal government for renewable technologies or low emitting power Saskatchewan#9Affordable and Realistic NET ZERO BY 2050 NET ZERO BY 2035 Unaffordable and Unrealistic Saskatchewan's Plan Affordable power rates Reliable power supply Building Saskatchewan's economy Projected rate increase of 2.6%/year Federal Plan Massive increase to power rates Unreliable power supply Damage to Saskatchewan's economy Power rates expected to more than double Saskatchewan