Northland Power (NPI) Investor Presentation summary

Company overview and financial position

• Over 37 years of operations with more than 1,200 employees and $14B in total assets as of September 2024.

• 3.2 GW in operation and 2.4 GW under construction, with 90%+ contracted revenue and a BBB credit rating.

• Market capitalization stands at $4.8B as of January 2025.

• Global footprint includes assets in Canada, US, Colombia, Europe, Spain, and Taiwan.

• Investment grade balance sheet with a fully funded construction program for major projects.

Strategic projects and construction milestones

• $7B spent to date on construction, with a total program of ~$16B across Hai Long, Baltic Power, and Oneida.

• Hai Long: Over 50% of jacket foundations installed, first offshore substation completed, and first turbine nacelles assembled; commercial operations expected by 2026/2027.

• Baltic Power: First components arrived in Poland, foundation installation to start in early 2025, commercial operations expected in 2026.

• Oneida: Major equipment installed, 278 Tesla Megapack batteries in place, commercial operations expected in 2025.

Growth strategy and market focus

• 2.4 GW of growth secured through 2027, with a development pipeline of 9.5 GW excluding projects under construction.

• Priority markets include Canada, Poland, Taiwan, Scotland, and South Korea, with a focus on offshore wind and onshore renewables.

• Exited non-core markets in Mexico and Japan to focus on core growth regions.