Mr. Mike Crawley reports

NORTHLAND ANNOUNCES SALE OF LA LUCHA SOLAR FACILITY

Northland Power Inc. has entered into an agreement to sell La Lucha solar facility to Cometa Energia SA de CV, wholly owned by Saavi Energia. La Lucha is a 130-megawatt solar facility located in Durango, Mexico, that is wholly owned by Northland. The facility achieved commercial operations in June, 2023.

"This transaction reflects Northland's strategy to recycle assets from non-core markets to generate liquidity and simplify our overall business towards operating in core markets," said Mike Crawley, president and chief executive officer of Northland.

The sale is expected to close in 2024 upon satisfaction of customary closing conditions, including finalizing insurance placement, lender approval and approval of the Federal Economic Competition Commission, required under applicable antitrust laws in Mexico. Northland expects to receive approximately $205-million in cash after taxes, transaction fees and other customary adjustments.

Proceeds will be initially used toward repayment of amounts drawn on the company's revolving credit facility and for general corporate purposes.

We seek Safe Harbor.