Northland Power Capitalized Growth & Strategic Overview

2022 Financial Guidance Adjusted EBITDA and Free Cash Flow Adjusted EBITDA $1.15 to $1.25 Billion Free Cash Flow (incl. growth expenditures) Utilities- 8% Efficient natural gas- 16% $1.20 to $1.40 Per Share Onshore renewables- 24% Adjusted Free Cash Flow (excl. growth expenditures) $1.65 to $1.85 Per Share 2022E Adjusted EBITDA 0 NORTHLAND POWER Offshore wind - 52% The current financial guidance excludes any gains that could be realized on asset-level sell-downs Northland Power | 34

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