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12/16 08:17
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Fixed Dividend Rate for Series 1 Shares: Northland Power has set the fixed quarterly dividend rate for its Cumulative Rate Reset Preferred Shares, Series 1 at an annual rate of 5.70%, translating to $0.3564 per share per quarter, effective from September 30, 2025, to September 29, 2030.
Floating Dividend Rate for Series 2 Shares: The quarterly floating rate dividends for the Cumulative Floating Rate Preferred Shares, Series 2 will be calculated at an annual rate of 2.80% over the yield on 90-day Government of Canada treasury bills. For the period from September 30, 2025, to December 30, 2025, the actual quarterly dividend rate will be 1.38% (5.46% annualized), resulting in a dividend of $0.3441 per share, payable on December 31, 2025.
Conversion Options: Holders of Series 1 and Series 2 Shares can convert their shares on a one-for-one basis until 5:00 PM (Toronto time) on September 15, 2025. This conversion will take effect on September 30, 2025.
Automatic Conversion Clause: If the number of outstanding shares in either series falls below 1,000,000 after conversions, all remaining shares will be automatically converted into the other series on a one-for-one basis, and no further conversions will be allowed into the series with fewer than 1,000,000 shares.
About Northland Power: Founded in 1987, Northland Power is a global power producer focused on the energy transition, with a diverse portfolio that includes offshore and onshore wind, solar, battery energy storage, and natural gas. The company operates with a gross generating capacity of 3.5 GW, has 2.2 GW under construction, and holds development opportunities for approximately 9 GW of potential capacity.
Public Trading Information: Northland Power's Common Shares and Preferred Shares are publicly traded on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, and NPI.PR.B.
