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Northland Power Announces President and Chief Executive Officer Leadership Transition

Press Release

TORONTO, March 25, 2024 — Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) today announced that Mike Crawley, Northland’s President and Chief Executive Officer, and the Board of Directors have agreed to a change in leadership for the Company. As such, Mr. Crawley, after leading Northland for the past six years, will be stepping down from his role.

Under the succession plan, Mr. Crawley will remain with Northland until September 30, 2024. John Brace, Chair of the Board of Directors, has been appointed Executive Chair as of today and will act as a bridge between Mr. Crawley and the next President & CEO as part of the transition. As Executive Chair, Mr. Brace will leverage his prior experience as Northland’s CEO from 2003 to 2018 where he was responsible for the Company’s successful development of its efficient natural gas fleet and the expansion into offshore wind and onshore renewables. Ian Pearce, Chair of the Governance and Nominating Committee, has been appointed Lead Independent Director. After the appointment of a new President & CEO, Mr. Brace is expected to return to his position as Non-Executive Board Chair and Mr. Pearce will remain as Lead Independent Director.

“Mike led Northland through a period of dynamic growth, forging strategic partnerships in core markets, growing the Company’s operating capacity and expanding its diverse development pipeline,” said Mr. Brace. “Northland is in a strong position thanks to Mike’s successful execution of our growth plan. Most recently, financing was secured for three major projects, which will increase our generating and storage capacity by over 70 per cent, while also substantially extending the weighted average duration of our contractual revenue agreements. We are profoundly thankful for his many successes and steadfast leadership at Northland.”

With Northland’s growth targets secured through 2027 and major construction programs well underway, the Company has launched a global search for a new leader to guide Northland’s continued growth.

“The completion of the Company’s many accomplishments in 2023 led to the Board and Mike reflecting on Mike’s nine-year tenure with Northland, six of which as President & CEO,” said Mr. Brace. “Looking ahead to the future and after a number of productive discussions between Mike, myself and the Board, we have agreed that this is an opportune time, with Northland in a strong position to transition to new leadership. We will continue to deliver against the strategy and near-term priorities presented at our recent Investor Day.”

“I am very proud of all that Northland has accomplished over my last nine years with the Company, including the six as President & CEO,” said Mr. Crawley. “We have consistently delivered strong financial results, significantly expanded Northland’s operating base and established a large and diverse growth pipeline. What I am most proud of, however, is the incredible talent Northland has retained, nurtured and attracted during this period. It is those people who will ensure that the Company continues to thrive and grow during both favourable and challenging market conditions. I will be working with John and the team to ensure a smooth transition and I look forward to Northland’s continued success in the months and years ahead.”

Construction at Hai Long, Baltic Power and Oneida continue to progress as planned and Northland’s financial guidance and outlook remain unchanged.

For further information, please contact:

Dario Neimarlija, Vice President, FP&A and Investor Relations
647-288-1019
investorrelations@northlandpower.com

Victor Gravili, Head of Global Brand & Integrated Communications
416-970-0200
communications@northlandpower.com

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