NPI FINANCIAL STATEMENTS

Northland Power Inc. — balance sheet, income statement and cash flow trends

NPINorthland Power Inc.

🇨🇦 Canada · TO · Utilities · Utilities - Renewable

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue2.6 B C$+13.7%

Gross Profit1.3 B C$-21.2%

Operating Income885.9 M C$+40.2%

EBITDA972.2 M C$-41.0%

Net Income-141.5 M C$-153.8%

Peer Comparison· Utilities - Renewable

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
NPI	13.7%	48.9%	37.9%	-5.5%
CWEN	5.6%	51.4%	76.0%	0.1%
CEN	1.9%	33.1%	28.2%	11.9%
MCY	-4.7%	16.7%	25.3%	2.6%
SLR	39.9%	77.2%	103.7%	55.9%
BEPC	2.8%	47.9%	-56.7%	-132.6%
Industry median	1.9%	27.1%	36.8%	-1.9%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity4.1 B C$32%
Current Liabilities1.3 B C$10%
Long-term Liabilities7.6 B C$58%

Key Figures

YoY change

Total Assets13.5 B C$-4.3%

Total Liabilities8.9 B C$-3.9%

Total Equity4.1 B C$-5.4%

Cash & ST Investments995.9 M C$+20.3%

Total Debt7 B C$-7.7%

Net Debt6 B C$-11.1%

Peer Comparison· Utilities - Renewable

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
NPI	1.16	168.6%	6.14	30.6%
CWEN	1.11	180.7%	8.52	32.5%
CEN	0.93	71.3%	3.10	45.6%
MCY	0.79	51.3%	2.78	48.6%
SLR	0.59	205.8%	4.94	30.0%
BEPC	0.33	-570.8%	-8.74	-5.6%
Industry median	1.07	51.3%	3.22	50.5%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow1.3 B C$+52.5%

Capital Expenditures159.6 M C$-56.1%

Free Cash Flow1.1 B C$+138.6%

Dividends Paid-289.4 M C$-240.5%

Peer Comparison· Utilities - Renewable

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
NPI	49.0%	42.7%	6.2%	-887.3%
CWEN	66.9%	39.5%	27.5%	49,700.0%
CEN	18.8%	5.8%	13.0%	157.9%
MCY	18.4%	3.5%	14.9%	712.5%
SLR	—	—	0.0%	—
BEPC	15.6%	-18.3%	33.9%	-11.8%
Industry median	18.8%	-0.4%	10.4%	33.3%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.