Investor Presentaiton

5 Shareholder Returns Track Record of Strong Returns to Shareholders Annual Dividends (Distributions) per share $1.20 $0.89 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD 2021 Total Shareholder Returns Peer Group S&P/TSX Capped Utilities Index Northland Power NORTHLAND POWER 5-Year TSR NORTHLAND POWER 18% 15% 10-Year TSR Canadian IPP Peer Group includes Algonquin Power, Boralex, Brookfield Renewable, Capital Power, Innergex, and TransAlta. 1. 2. As at November 16, 2021. NORTHLAND POWER

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