Investor Presentaiton

THE NORTH WEST COMPANY 1. COVID-19 Impact Liquidity Debt-to-Equity Fiscal year, $ in millions Available Capacity Debt(1) $190 $232 $267 0.96 0.89 0.82 $411 $367 $314 2017 2018 2019 (1) Debt excluding IFRS 16 Lease liabilities . Debt-to-equity less than 1.0 since 2000 $190 million capacity on existing facilities Capex will reduce to $65 million range in 2020 • Cost reductions, GT transaction and C-19 essential services position NWC for operating cash flow growth over FY19 7

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