Northland Power Inc. · TSX:NPI
Northland Power — Investor Presentation (January 2025)
29 slides from Northland Power's investor presentation, January 2025
Slide 1: Investor Presentation January 2025
Investor Presentation January 2025 Nordsee One, North Sea
Slide 2: 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 3: Reporting of Non-IFRS Financial Measures
Investor Relations: Public Reporting of Non-IFRS Financial Measures This investor presentation includes references to Northland’s Adjusted EBITDA, Adjusted Free Cash Flow and Free Cash Flow and applicable payout ratios and per share amounts, which are measures not prescribed by International Financi
Slide 4: Northland Overview
Investor Relations: Public Northland Overview Northland Overview 37+ >1,200 ~15yrs Years of success Employees1 Weighted average contracted revenue life2 Onshore Renewables 2.4 GW Under 3.2 GW 90%+ Contracted revenue construction3 In operations3 Natural Gas & Utilities 722 MW of natural gas across fo
Slide 5: 2024 Highlights
2024 Highlights Construction Announced Secured 15 yr PPA on track Successfully Christine Healy as Battery Northland’s $7B exited non-core markets – Storage New CEO spent to date (est. total ~$16B) Mexico & Japan in Alberta, Canada Hai Long Oneida Baltic Power Half of jacket Major equipment First com
Slide 6: Global Footprint
Investor Relations: Public Global Footprint Operating Assets (Gross) 1.2 GW 1.3 GW Offshore Wind Onshore Wind/Solar 0.7 GW Natural Gas Assets under Construction (Gross) Canada: Colombia: Spain: • Operating: 1,246 MW • Operating Utility • Operating: 559 MW • Construction: 250 MW • Operating: 16 MW Ta
Slide 7: 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 2 MW Adjusted EBITDA Baltic 250 MW Power 7-10% $1.
Slide 8: 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 9: Growth Markets
Investor Relations: Public Growth Markets Priority Markets Canada Offshore Taiwan Wind South Poland Scotland Korea Scotland 9.5 GW (Excl. 2.4 GW of projects under construction) Development Onshore Renewables Pipeline Ontario New York Alberta US South Korea EBSA rate growth Poland Ne w Natural Gas ba
Slide 10: 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 11: 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 12: Hai Long Construction Highlights (On Track)
Investor Relations: Public Hai Long Construction Highlights (On Track) Turbines 8 Grid Onshore Offshore 5 Substation Substation Substation 1 6 Onshore cables 2 7 Foundations Offshore export cables 3 Inter Array Cables 4 Onshore Onshore 2 Export 3 Inter Array Cable 4 Turbines 8 1 Substation cables ca
Slide 13: Baltic Construction Highlights (On Track)
Investor Relations: Public Baltic Construction Highlights (On Track) Turbines 8 Grid Onshore 1 Offshore 5 Substation Substation Substation 6 7 Foundations Onshore cables 2 Offshore export cables 3 Inter Array Cables 4 Onshore Onshore 2 Export 3 Inter Array Cable 4 Turbines 8 1 Substation cables cabl
Slide 14: Oneida Construction Highlights (On Track)
Investor Relations: Public Oneida Construction Highlights (On Track) Grid Substation 1 2 5 MV Transformers Battery Packs Concrete Foundations 4 Cables 3 Grid 1 Transformer 2 Cables 3 Battery 4 Substation Cables have been Foundations 70 x Medium voltage installed. 140 Mega pack foundations and 2 x Hi
Slide 15: Significant Adjusted EBITDA Growth
Investor Relations: Public Significant Adjusted EBITDA Growth1 Fully funded incremental growth starting in 2025 ~7-10% CAGR ~$1.6-1.8B ~$1.2-1.3B Growth Full year contribution Contribution from Hai Long, Baltic Power, and Oneida in 2027 Contribution from Oneida COD in 2025, Hai Long PCR starting in
Slide 16: 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 2023A Adjusted EBITDA 2027F Adjusted EBITDA Utility ~9% Other2 ~8% Efficient Natural Gas North Sea Utility ~8% ~11
Slide 17: Northland Power Investor Relations Contact
Northland Power Dario Neimarlija, Vice President of 30 St. Clair Avenue West, Email: investorrelations@northlandpower.com FP&A and Investor Relations 3rd Floor 647.288.1019 Website: northlandpower.com Toronto, ON Canada M4V 3A1
Slide 18: Appendix
Investor Relations: Public Appendix Northland Power 2022 Investor Day 18
Slide 19: 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 20: Hai Long
Investor Relations: Public Hai Long Installation of Jacket Foundations started in 2024 and will be completed in 2025 20
Slide 21: Hai Long
Investor Relations: Public Hai Long The first set of wind turbine blades arriving in Taiwan Offshore substation 21
Slide 22: Hai Long
Investor Relations: Public Hai Long Picture of the Onshore substation, 2024 22
Slide 23: 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 24: Baltic Power
Baltic Power Baltic Power Onshore Substation, September 2024 Onshore Substation, November 2024
Slide 25: Baltic Power
Investor Relations: Public Transition Pieces Jack-up platform Baltic Power Photos on construction progress across the project O&M Base 25
Slide 26: 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 27: Oneida – Tesla Megapack Example
Investor Relations: Public Oneida – Tesla 1 Megapack 2 Example 1. Vents and fans 2. Inverter 2 3. Colling panel 3 4. Battery module 5. Customer panel 5 4 27
Slide 28: Oneida
Oneida Oneida Main substation area under construction, Main substation area completed with high surrounded by installed battery packs voltage switches, breakers and transformers July 2024 October 2024
Slide 29: Oneida
Oneida Megapacks on Foundations, June 2024
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