Northland Power Capitalized Growth & Strategic Overview

Strong annual EBITDA growth Capitalized Growth Projects will increase EBITDA and Quality of Cash Flow through 2027+ $2.0-2.2 Bn² $1.7 - 1.9 Bn¹ 0 NORTHLAND POWER + Ability for more growth through 6 GW Additional Pipeline - $1.15 1.25 Bn 7-10% CAGR EBITDA 2x Capitalized + By 2030 Capitalized projects¹ Other Identified Projects² 2022 2027e 2030e 10 year avg. contracted life 14 year avg. contracted life 1. 2. 2027 includes contributions from capitalized growth projects only (Hai Long, Baltic Power, Suba, Nordsee Two and High Bridge) 2030 also includes contributions from identified growth projects (Dado, Chiba, N3 and Delta) in addition to capitalized projects Northland Power | 38

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