Northland Power Capitalized Growth & Strategic Overview

Long-term financial objectives Maintaining flexibility, adding corporate funding tools to diversify sources of capital, preserving low cost of capital and investment grade balance sheet are key to the successful growth execution of Northland, to ultimately drive growth in FCF/AFCF per share 1. Represents the total gross capital costs of the ~3 GW capitalized growth projects. المالية BBB (Stable) 0 Maintain investment grade balance sheet to support growth $12-15B1 pipeline Maintain flexibility to fund Capitalized Projects costs 7-10% CAGR by 2027 Significant growth in adj. EBITDA expected on completion of Capitalized Growth Projects NORTHLAND POWER Northland Power | 32

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