Northland Power Inc. · TSX:NPI
Northland Power — Q1 2025 Earnings Presentation
24 slides from Northland Power's earnings presentation, May 14, 2025
Slide 1: Investor Presentation
Investor Presentation May 2025 Baltic Power, Poland
Slide 2: Northland Overview
Investor Relations: Public Northland Overview Northland Overview 37+ >1,200 ~15yrs Years of success Employees1 Weighted average contracted revenue life2 Onshore Renewables 2.2 GW Under 3.4 GW 90%+ Contracted revenue construction3 In operations3 Natural Gas & Utilities 722 MW of natural gas across fo
Slide 3: Global Footprint
Investor Relations: Public Global Footprint Canada Northern Europe (offshore wind) Operating Operating 1,511 MW 1,192 MW In Construction 1,140 MW United States Operating Colombia Spain Taiwan 220 MW Operating Utility Operating In Construction 500,000+ customers 559 MW 1,022 MW Operating 16 MW Operat
Slide 4: Significant Construction Pipeline Secured Financial Growth
Investor Relations: Public Significant Construction Pipeline Secured Financial Growth 2.4 GW of growth Investment grade balance sheet with fully funded secured through 2027 Including construction program Construction 1,140 MW Projects ~6.0 GW1 1,022 MW 2 Adjusted EBITDA Baltic 250 MW Power 7-10% $1.
Slide 5: Growth Markets
Investor Relations: Public Growth Markets Priority Markets Canada Offshore Taiwan Wind South Poland Scotland Korea Scotland 10 GW (Excl. 2.2 GW of projects under construction) Development Onshore Renewables Pipeline Ontario New York Alberta US South Korea EBSA rate growth Poland Ne w Natural Gas bas
Slide 6: Construction Progress Milestones
Investor Relations: Public Construction Progress Milestones Hai Long Baltic Power Oneida 1GW Offshore Wind, Taiwan 1.1GW Offshore Wind, Poland 250MW Battery Storage, Canada Executed Revenue Contract Executed EPC Construction Contracts Executed Financing Starts In-water Construction N/A Battery Deliv
Slide 7: Hai Long & Baltic Power Construction Milestones & Status
Investor Relations: Public Hai Long & Baltic Power Construction Milestones & Status Fully-funded1 construction program with first power expected for Hai Long in H2 2025 and H1 2026 for Baltic Power Hai Long • First turbine installation • First foundation installation • Offshore substation • Offshore
Slide 8: Adjusted EBITDA Diversification by Technology & Geography
Investor Relations: Public Adjusted EBITDA1 Diversification by Technology & Geography By 2027, cash flow growth will diversify across more regions providing higher quality and stability 2024A Adjusted EBITDA 2027F Adjusted EBITDA Utility ~9% Efficient Natural Gas North Sea Utility ~11% ~11% ~30% Off
Slide 9: Forward Looking Statements
Investor Relations: Public Forward Looking Statements This written and accompanying oral presentation contains certain forward-looking statements and information within the meaning of Canadian securities laws concerning the business and operations of Northland Power Inc. and are provided for the pur
Slide 10: Northland Power Investor Relations Contact
Northland Power Adam Beaumont, Senior Vice 30 St. Clair Avenue West, Email: investorrelations@northlandpower.com President of Capital Markets 3rd Floor 647.288.1019 Website: northlandpower.com Toronto, ON Canada M4V 3A1
Slide 11: Appendix
NORTHLAND 4 ee POWER Appendix
Slide 12: Leadership Team
Investor Relations: Public Leadership Team Christine Healy - President & CEO • Christine most recently served as President of AMEA (Asia, Middle East, Australia) for AtkinsRealis. • Previous experience at TotalEnergies includes Senior Vice President for Carbon Neutrality and Continental Europe, Pres
Slide 13: Hai Long (1.0 GW)
Investor Relations: Public Hai Long (1.0 GW)1 • Stable revenue through 20-year FIT and 30-year Corporate Power Purchase Agreement with S&P AA- rated counterparty • Construction is fully funded, with long-term non-recourse project financing secured • Material contribution to Northland’s Adjusted EBIT
Slide 14: Hai Long
Investor Relations: Public Hai Long Installation of Offshore Substation Topside (2 of 2) - March 2025 14
Slide 15: Hai Long
Hai Long First turbine installed
Slide 16: Hai Long
Hai Long Delivery of the 219 Project's Pin Piles. March 2025
Slide 17: Baltic Power (1.1 GW)
Investor Relations: Public Baltic Power (1.1 GW)1 • Construction is fully funded and long-term project financing with 25 financial Baltic Power institutions is secured • Stable cash flow from 25-year Contract for Differences (CfD) revenue contract that has indexation based on the Polish CPI commenci
Slide 18: Baltic Power
Baltic Power Transition pieces sail out of Newcastle, England. March 2025
Slide 19: Baltic Power
Baltic Power O&M Base Grand Opening May 2025 and Turbine towers at the Pre-Assembly Harbour
Slide 20: Baltic Power
Investor Relations: Public Baltic Power Baltic Power Baltic Power Onshore Substation, Offshore September Substation 2024 Topside Sail Out March Monopile Foundation Install February 2025 2025 20
Slide 21: Oneida (250 MW)
Investor Relations: Public Oneida (250 MW)1 • 250 MW (4-hour duration) Lithium-Ion Battery Storage in Oneida Southwestern Ontario Battery • One of the largest battery storage project in Canada and North Storage America • 20-year capacity contract with the IESO • Strong group of equity partners with
Slide 22: Oneida
Oneida Main substation area completed with high voltage switches, breakers and transformers April 2025
Slide 23: Oneida
Oneida Megapacks on Foundations, April 2025
Slide 24: Partners and Contractors
Investor Relations: Public Partners and Contractors Partner(s) High Quality Contractors Hai Long Baltic Power Oneida 24