Mr. Jeff Hart reports

NORTHLAND POWER CLOSES FINANCING FOR TWO BATTERY STORAGE PROJECTS IN POLAND

Northland Power Inc. has closed approximately 500 million Polish zloty ($185-million) in project financing for its Mieczyslawow (200 megawatts/800 megawatt-hours) and Kamionka (100 MW/400 MWh) battery energy storage system (BESS) projects in Poland, both of which are currently under construction.

The financing was secured with Canadian and Polish financial institutions and completes the funding structure for the projects. Both projects have also received grants totalling approximately 280 million Polish zloty ($105-million) from Poland's National Fund for Environmental Protection and Water Management. Northland has already fulfilled its equity commitment for both projects using corporate cash and available funding. Total capital costs for Kamionka and Mieczyslawow are estimated to be approximately 1.0 billion Polish zloty ($400-million).

"Securing financing for Kamionka and Mieczyslawow completes the funding structure for both projects and marks another important milestone in Northland's growth in Poland," said Jeff Hart, chief financial officer of Northland Power. "These projects demonstrate our disciplined approach to capital allocation and our ability to execute on projects. As demand for flexible grid infrastructure continues to grow, battery storage is an important part of our portfolio and a key driver of long-term value creation."

Kamionka and Mieczyslawow remain on track, with commercial operations expected in early 2028 and mid-2028, respectively. Once fully operational, the projects are expected to contribute approximately $40-million to $50-million of combined annual adjusted earnings before interest, taxes, depreciation and amortization.

Acquired in November, 2025, as late-stage, preconstruction projects, Northland has since advanced both projects through development, secured grant funding and project financing, and commenced construction. Together, the facilities will provide 300 MW/1.2 GWh (gigawatt-hour) of battery storage capacity, with a portion of revenues contracted under 17-year inflation-indexed auction agreements and additional revenue opportunities through energy arbitrage and ancillary services markets.

Once operational, Kamionka and Mieczyslawow are expected to be among the first utility-scale standalone battery storage facilities operating in Poland. Together with Baltic Power, the projects further strengthen the company's presence in one of its core growth markets. The facilities will support grid reliability, increase system flexibility and help integrate Poland's growing renewable energy generation.

About Northland Power Inc.

Northland Power is a Canadian-headquartered global power producer delivering the electricity the world needs through offshore wind, onshore renewables, battery storage and natural gas-fired generation. With offices in seven countries, Northland owns, in whole or in part, 3.6 GW of gross operating generating capacity, 2.4 GW under construction and an approximately eight GW development pipeline, reflecting nearly four decades of experience delivering large-scale energy infrastructure.

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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