Northland Power Inc. · TSX:NPI
Northland Power — Investor Presentation (September 2025)
24 slides from Northland Power's investor presentation, September 2025
Slide 1: Investor Presentation September 2025
Investor Relations: Public Investor Presentation September 2025 1
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: Powering Progress Since 1987
Investor Relations: Public Powering Progress Since 1987 3.5 GW 1 2.2 GW 1 In operations Under construction Northland Power is a Canada-based global power producer dedicated to accelerating the global energy transition. BBB Investment Grade $5.8B Market cap2 Credit rating Portfolio includes offshore
Slide 4: Northland History: A 38-year track record of growth
Investor Relations: Public Northland History 1990 1997-2009 2014 A 38-year Biomass and gas fired generation Expanded into solar and onshore wind in Entered European offshore wind market with track record Canada 600MW Gemini wind farm of growth 2020-2021 2023 2025 Acquired EBSA Entered largest Delive
Slide 5: Global Footprint
Investor Relations: Public Global Footprint Total Portfolio 3.5 GW 2.2 GW Operating Assets (Gross) Operating In Construction 1.2 GW Offshore Wind Canada: 1.3 GW Operating 1.5 GW Europe: In Construction 80 MW Operating 1.2 GW Onshore In Construction 1.1 GW Wind/Solar 0.7 GW Natural Gas Taiwan: 0.3 GW
Slide 6: Operational Excellence
Investor Relations: Public Operational Excellence Offshore Wind Onshore Wind Solar Northland operates 235 turbines Northland operates over 541 Northland operates over across three sites in Germany and turbines across 19 sites with 990,000 solar panels, both the Netherlands, with an installed an inst
Slide 7: Construction Pipeline will add another 2.2 GW
Investor Relations: Public Construction Pipeline will add another 2.2 GW 20% CAGR 1,140 MW Including Construction Projects 1,022 MW Baltic ~6.0 GW1 Construction Projects Power 250 MW expected to add Hai Long Poland Oneida 3.2 GW Taiwan Adj. EBITDA ~$600M2 COD: 2024 Operations Canada 2026 Free Cash F
Slide 8: Hai Long, Baltic Power, Oneida
Investor Relations: Public Poland’s first offshore wind facility, Powering >1.5 million Polish households, Poland’s renewable energy target of 11 GW of offshore wind by 2040. ON TRACK with Expected COD: H2 2026 Hai Long (1.0 GW) Baltic Power (1.1 GW) Oneida (250 MW) Canada’s largest battery storage
Slide 9: Diversification by Technology & Geography
Investor Relations: Public Diversification by Technology & Geography Diversification of regions and technologies will provide strong cash flow growth, delivering high-quality returns and stability. 2024A Adjusted EBITDA1 2027F Adjusted EBITDA1 Utility ~9% Utility ~11% North Sea Natural Gas ~30% ~11%
Slide 10: Industry Tailwinds in Core Markets
Investor Relations: Public Industry Tailwinds in Core Markets Positive trends taking shape in 2025 Growth in demand for power Increasing need for energy security Rising contracted power prices Investment in grid infrastructure Stable rate environment 10
Slide 11: Growth Markets 8.5 GW Development Pipeline
Investor Relations: Public Growth Markets 8.5 GW Development Pipeline (Excl. 2.2 GW of projects under construction) Offshore Wind Onshore Renewables Natural Gas & Utilities Northern/Central Canada Northern/Central Canada – New Colombia – EBSA Europe Europe Natural Gas rate base growth 11
Slide 12: Why Northland?
Investor Relations: Public Why Northland? Attractive entry point in a Global Power and Energy Leader with a strong track record that is well-positioned to capture the increasing need for power across global markets Track record of Operational Investment grade Global execution excellence balance shee
Slide 13: Northland Power contact details
Northland Power Adam Beaumont, Senior Vice Email: investorrelations@northlandpower.com 30 St. Clair Avenue West, President of Capital Markets 3rd Floor Website: northlandpower.com 647.288.1019 Toronto, ON Canada M4V 3A1
Slide 14: Appendix
NORTHLAND POWER
Slide 15: Experienced Executive Team
Investor Relations: Public Experienced Executive Team Christine Healy, President & CEO Joined in 2025. International energy transition executive with extensive experience driving value creation and growth globally. She has led large-scale, innovative, and sustainable energy projects throughout her c
Slide 16: Construction Progress Milestones
Investor Relations: Public Construction Progress Milestones Hai Long Baltic Power 1GW Offshore Wind, Taiwan 1.1GW Offshore Wind, Poland Executed Revenue Contract Executed EPC Construction Contracts Progressing our ~$16 billion Executed Financing construction program with Oneida achieving commercial
Slide 17: Hai Long (1.0 GW)
Hai Long (1.0 GW) Will be one of the largest offshore wind facilities in Asia that will power more than one million Taiwanese households, making a significant contribution to Taiwan’s renewable energy target of 15 GW of offshore wind Hai Long • 300MW secured 20-year FIT and 700MW Taipei 30-year Corp
Slide 18: Hai Long
Hai Long First turbine installed
Slide 19: Hai Long
Investor Relations: Public Hai Long Installation of Offshore Substation Topside - March 2025 19
Slide 20: Baltic Power (1.1 GW)
Baltic Power (1.1 GW) Will be Poland’s first offshore wind facility and power more than one and a half million Polish households making a significant contribution to Poland’s renewable energy target of 11 GW of offshore wind by 2040. Baltic Power • 25-year Contract for Differences (CfD) revenue cont
Slide 21: Baltic Power
Baltic Power O&M Base Grand Opening May 2025 and Turbine towers at the Pre-Assembly Harbour
Slide 22: Baltic Power
Baltic Power Turbine Nacelle Load-Out
Slide 23: Baltic Power
Baltic Power Transition pieces sail out of Newcastle, England. March 2025
Slide 24: Oneida (Storage) 250 MW
Oneida (Storage) 250 MW Canada’s largest battery storage project that will reduce greenhouse gas emissions equivalent of taking 40,000 cars off the road every year and will enhance grid reliability and energy affordability • 250 MW (4-hour duration) Lithium-Ion Battery Storage in Ontario, Canada • 2
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