Other Securities

Northland Power has approximately 4.5 million Cumulative 5-Year Rate Reset Preferred Shares (Series 1) outstanding.

The holders of Series 1 Preferred Shares are entitled to receive fixed cumulative dividends at an annual rate of $0.88 per share, payable quarterly, on last business day of March, June, September and December.

The dividend rate will reset on September 30, 2020 and every five years thereafter at a rate equal to the then five-year Government of Canada Bond yield plus 2.80%. The Series 1 Preferred Shares may be redeemed by the corporation, at the election of the corporation, on September 30, 2020 and every five years thereafter. The Series 1 Preferred Shares are rated P-3 by Standard & Poor's.

The Series 1 preferred shares are listed on the Toronto Stock Exchange (TSX) under the symbol NPI.PR.A.

Northland Power has approximately 1.5 million Cumulative Floating 5-Year Rate Reset Preferred Shares (Series 2) outstanding.

The holders of Series 2 Preferred Shares are entitled to receive floating dividend of 2.80% over the annual yield on 90-day Government of Canada treasury bills (as determined on the relevant quarterly dividend determination date), payable quarterly, on last business day of March, June, September and December. The Series 2 Preferred Shares may be redeemed by the corporation, at the election of the corporation, on September 30, 2020 and every five years thereafter.

The Series 2 preferred shares are listed on the Toronto Stock Exchange (TSX) under the symbol NPI.PR.B.

Northland Power has 4.8 million Cumulative 5-Year Rate Reset Preferred Shares (Series 3) outstanding. The holders of Series 3 Preferred Shares are entitled to receive fixed cumulative dividends at an annual rate of $1.25 per share, payable quarterly, on last business day of March, June, September and December.

The dividend rate will reset on December 31, 2017 and every five years thereafter at a rate equal to the then five-year Government of Canada Bond yield plus 3.46%. The Series 3 Preferred Shares may be redeemed by the corporation, at the election of the corporation, on or after December 31, 2017. The Series 3 Preferred Shares are rated P-3 by Standard & Poor's.

The Series 3 preferred shares are listed on the TSX under the symbol NPI.PR.C.

Northland Power has 5.00% convertible unsecured subordinated debentures outstanding that mature on December 31, 2019 (the “2019 Debentures”).

Interest on the 2019 Debentures is paid semi-annually in arrears on June 30 and December 31. Holders may convert the 2019 Debentures into common shares of Northland Power at a conversion price of $21.60 per share at any time prior to June 30, 2019. Northland may at its option satisfy its obligation to pay the redemption price of the 2019 Debentures in common shares of Northland at maturity. The 2019 Debentures cannot be redeemed by Northland Power before June 30, 2017.

The 2019 Debentures are listed on the Toronto Stock Exchange under the symbol NPI.DB.B.

Northland Power has 4.75% convertible unsecured subordinated debentures outstanding that mature on June 30, 2020 (the “2020 Debentures”).

Interest on the 2020 Debentures is paid semi-annually in arrears on June 30 and December 31. Holders may convert the 2020 Debentures into common shares of Northland Power at a conversion price of $21.60 per share at any time prior to June 30, 2020. Northland may at its option satisfy its obligation to pay the redemption price of the 2020 Debentures in common shares of Northland at maturity. The 2020 Debentures cannot be redeemed by Northland Power before June 30, 2018.

The 2020 Debentures are listed on the Toronto Stock Exchange under the symbol NPI.DB.C.

Northland Power
2017 AGM Presentation

Continuing our goal to be a leader in the development and operation of sustainable energy assets in Canada and worldwide