Investor Presentaiton

4 Net Capacity (MW) Evolution of Northland Offshore Wind has Accelerated Our Growth 2,266 MW 2,029 MW 1,345 MW 10% CAGR 0% 2014 2017 2020 Adjusted EBITDA ($MIN) 40% 0% Offshore Wind Contribution $1,170 $765 $363 21% CAGR 2014 2017 2020 Free Cash Flow/Share $1.73 $1.46 $1.12 I 9% CAGR 2014 2017 2020 60% 0% Offshore Wind Contribution Offshore Wind Contribution 50% NORTHLAND POWER

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