Mr. Dario Neimarlija reports

NORTHLAND EXTENDS MATURITY DATE OF ITS $500M SHORT TERM CORPORATE CREDIT FACILITY FOR HAI LONG TO DECEMBER 31, 2023

The maturity date of Northland Power Inc.'s $500-million short-term corporate credit facility related to its equity contribution in Hai Long has been extended from Nov. 27, 2023, to Dec. 31, 2023. The facility is expected to be repaid upon receipt of the proceeds from the Gentari sell-down (as defined in the company's management's discussion and analysis for the third quarter of 2023), which management is targeting to close in the fourth quarter of 2023, upon certain closing conditions being met, which also include meeting requirements under the existing multiparty project finance agreements. In the event that the Gentari sell-down is delayed due to satisfying closing conditions taking more time than planned, the facility may need to be further extended or refinanced.

About Northland Power Inc.

Northland is a global power producer dedicated to helping the clean energy transition by producing electricity from clean renewable resources. Founded in 1987, Northland has a long history of developing, building, owning and operating clean and green power infrastructure assets, and is a global leader in offshore wind. In addition, Northland owns and manages a diversified generation mix, including onshore renewables and efficient natural gas energy, as well as supplying energy through a regulated utility.

Headquartered in Toronto, Canada, with global offices in eight countries, Northland owns or has an economic interest in approximately 3.4 gigawatts (net 2.9 gigawatts) of operating capacity. The company also has a significant inventory of projects in construction and in various stages of development, encompassing approximately 15 gigawatts of potential capacity.

Publicly traded since 1997, Northland's common shares and Series 1 and Series 2 preferred shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A and NPI.PR.B, respectively.

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