Investor Presentaiton

35 2021 Financial Guidance Adjusted EBITDA and Free Cash Flow Adjusted EBITDA $1.1 to $1.2 Billion Free Cash Flow (incl. growth expenditures) $1.30 to $1.50 8% ■ Offshore Wind 20% 2021E Adjusted EBITDA ■ Onshore Renewables ■ Efficient Natural Gas Per Share 12% 60% ■ Utilities Adjusted Free Cash Flow (excl. growth expenditures) $1.60 to $1.70 Per Share New for 2021, Northland plans to report on Adjusted Free Cash Flow before all growth- related expenditures NORTHLAND POWER

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