Public Country-by-Country Reporting Disclosure Note

1. Introduction

Northland Power Inc. was founded in 1987 and owns or holds net economic interests, through its subsidiaries and joint ventures (together referred herein as “Northland” or the “Group”), in power producing and energy storage facilities and a power distribution utility, as well as in the projects under construction or development. Northland’s facilities produce electricity for sale, primarily under long-term power purchase agreements, energy storage capacity contracts or other revenue arrangements with creditworthy counterparties. Northland’s utility business distributes and retails electricity within a regulated framework. These operating assets are located in Canada, Colombia, Germany, the Netherlands, Spain, and the United States of America. Northland’s assets under construction are located in Canada, Poland and Taiwan. Northland’s assets under development are located in Canada, South Korea, Scotland, Poland, Spain and the United States.

Consistent with our commitment to transparency and responsible tax practices, Northland publishes this Public Country-by-Country Reporting (“Public CbCR”) disclosure in accordance with Directive (EU) 2021/2101.

This report covers the financial year ended December 31, 2025 and includes information on Northland’s operations in the European Union (“EU”) Member States.

2. Northland’s Approach to Tax

Northland’s tax strategy is based on the following principles:

Compliance: We maintain controls to ensure compliance with tax laws in all jurisdictions where we operate.
Commercial alignment: Taxes follow the substance and commercial reality of our business activities.
Transparency: We aim to provide clear and meaningful disclosure to stakeholders.
Responsible engagement: We maintain constructive relationships with tax authorities and seek certainty where appropriate.

Northland’s organizational structures are chosen for commercial reasons and take into consideration tax efficiencies.

3. Basis of Preparation

The financial information presented are in Canadian dollars. The information disclosed in this Public CbCR report are derived from the Group’s audited, IFRS consolidated financial statements (“Group’s consolidated financial statements”) for the year ended December 31, 2025. Certain amounts may differ from what is disclosed in the Group’s consolidated financial statements, as Public CbCR is based on different standards than those used in preparing the Group’s consolidated financial statements.

4. Country-by-Country Information

89071 4181 Fiscal year 2025-01-01 to 2025-12-31

Report on corporate income tax information

Section 1 – General information

Name of ultimate parent of group of standalone company	Northland Power Inc.
Country of registered office of ultimate parent undertaking	Canada
Date of start of financial year	2025-01-01
Date of end of financial year	2025-12-31
Reporting currency	CAD
Application of option to report in accordance with taxation reporting instructions	Yes

Section 2 – Overview of information on a country-by-country basis

Tax Jurisdiction*	Revenues - Total	Profit (Loss) Before Income Tax	Income Tax Paid (on cash basis)	Income Tax Accrued - Current Year	Accumulated Earnings	Number of Employees
Netherlands	618,335,657	348,894,387	25,128,365	15,572,821	697,938,098	40	Note 1
Luxemburg	155,239	(53,181)	-	17,638	3,233,705	2
Germany	592,592,377	(389,423,803)	24,018,017	15,152,805	247,517,724	158	Note 2
Romania	180	(490,449)	-	-	(9,716,737)	-
Poland	3,577,845	1,296,758	323,456	314,774	1,758,470	16	Note 3
Spain	220,144,515	18,686,111	13,234,892	10,588,472	123,730,418	26
Rest of world	1,164,462,737	(242,170,262)	74,642,202	77,560,352	(5,227,605,906)	926	Note 4
Northland does not have a presence in any jurisdictions that are grey-listed or are considered non-cooperative.
Note 1
Profit (loss) before income tax includes CAD $193 million of (after-tax) accounting income from unconsolidated entities (primarily the Baltic Power and Hai Long offshore wind projects) which are equity accounted. Only Northland's 60% interest in the Gemini offshore wind farm is included as the project is owned through a partnership.
Note 2
Profit (loss) before income tax includes CAD $527 million of accounting impairment loss on the Nordsee One offshore wind farm. While Nordsee One is only 85% owned by Northland, 100% of Nordsee One results are included because it is a corporate subsidiary.
Note 3
Excludes the Baltic Power offshore wind project, as it is not consolidated in Northland's audited financial statements. Please see Note 1 for additional details.
Note 4
Profit (loss) before income tax includes fair value changes related to derivatives, primarily in Canada and the United States. The Hai Long offshore wind project is excluded, since it is not consolidated in Northland's audited financial statements. Please see Note 1 for additional details.

Section 3 – List of subsidiaries and activities

Member State or tax jurisdiction	Country code	Name of each subsidiary undertaking in the Member State or tax jurisdiction	Brief description of the nature of activities in the Member State or tax jurisdiction
Germany	DE	Nordsee One GmbH	Manufacturing or Production
		Northland Deutsche Bucht AssetCo GmbH	Internal Group Finance
		Northland Deutsche Bucht GmbH	Holding Shares or Other Equity Instruments
		Northland Deutsche Bucht GmbH	Manufacturing or Production
		Northland Deutsche Bucht Holdings GmbH	Holding Shares or Other Equity Instruments
		Northland Deutsche Bucht Holdings GmbH	Internal Group Finance
		Northland Power Europe GmbH	Administrative, Management or Support Services
		Northland Power Wind Service GmbH	Administrative, Management or Support Services
		Northland Power Wind Service GmbH	Provision of Services to Unrelated Parties
Luxembourg	LU	Northland Power Europe Luxembourg S.à.r.l.	Dormant
Poland	PL	Magazyn EE Kamionka sp. z o.o.	Other
		Magazyn EE Mieczysławów sp. z o.o.	Other
		Northland Power Polska Sp. z o.o.	Administrative, Management or Support Services
		Northland Power Polska Sp. z o.o.	Provision of Services to Unrelated Parties
Romania	RO	EVN Windpower Development & Construction S.R.L.	Other
Romania	RO	PNE Wind Romania S.R.L.	Other
Spain	ES	AAVYC Gestión 2000, S.L.U.	Manufacturing or Production
		Almansa Photosolar Andrómeda, S.L.U.	Manufacturing or Production
		Almansa Photosolar Fornax, S.L.U.	Manufacturing or Production
		Almansa Photosolar Vulpécula, S.L.U.	Manufacturing or Production
		Alposol Fotovoltaica, S.L.U.	Manufacturing or Production
		Andalucía Eólico Palomarejo, S.A.U.	Manufacturing or Production
		Aproving, S.L.U.	Manufacturing or Production
		Arcadium Energy, S.L.U.	Holding Shares or Other Equity Instruments
		Arcadium Energy, S.L.U.	Internal Group Finance
		El Soldado Fotovoltaico, S.L.U.	Manufacturing or Production
		Elecdey Carcelén, S.A.U.	Internal Group Finance
		Elecdey Carcelén, S.A.U.	Manufacturing or Production
		Elecdey Castilla La Mancha, S.A.U.	Manufacturing or Production
		Elecdey Lezuza, S.A.	Internal Group Finance
		Elecdey Lezuza, S.A.	Manufacturing or Production
		Elecdey Murcia, S.A.U.	Manufacturing or Production
		Elecdey Palencia, S.L.U.	Manufacturing or Production
		Explotaciones Eólicas Vélez Rubio, S.L.U.	Manufacturing or Production
		Fotosolarium 10, S.L.U.	Manufacturing or Production
		Fotosolarium 11, S.L.U.	Manufacturing or Production
		Fotosolarium 60, S.L.U.	Manufacturing or Production
		Fotosolarium 61, S.L.U.	Manufacturing or Production
		FSER Fotosolar, S.L.U.	Internal Group Finance
		FSER Fotosolar, S.L.U.	Manufacturing or Production
		Gestenersol de Inversiones 1, S.L.	Holding Shares or Other Equity Instruments
		Gestenersol de Inversiones 2, S.L.	Holding Shares or Other Equity Instruments
		Gestión Integral Solar, S.L.U.	Manufacturing or Production
		Helia Eólica Malaca, S.L.U.	Manufacturing or Production
		Iniciativas Eólicas Castellanas, S.A.	Manufacturing or Production
		Montesolaica X, S.L.U.	Manufacturing or Production
		Nishatigreen, S.L.U.	Holding Shares or Other Equity Instruments
		Nishatigreen, S.L.U.	Internal Group Finance
		Northland Power Spain Holdings, S.L.U.	Administrative, Management or Support Services
		Northland Power Spain Holdings, S.L.U.	Holding Shares or Other Equity Instruments
		NP Spain Investments, 1, S.L.U.	Internal Group Finance
		Parque Eólico Las Lomillas, S.L.U.	Manufacturing or Production
		Parque Eólico Loma de Ayala, S.L.U.	Manufacturing or Production
		Parque Eólico Los Jarales, S.L.U.	Manufacturing or Production
		Parque Eólico Tres Villas, S.L.U.	Manufacturing or Production
		Photosolar Almansa Girolamo, S.L.U.	Manufacturing or Production
		Photosolar Almansa Suafigerino, S.L.U.	Manufacturing or Production
		Photosolar Almansa Velletri, S.L.U.	Manufacturing or Production
		Photosolar Almansa Verini, S.L.U.	Manufacturing or Production
		Solucia Renovables 1, S.L.U.	Manufacturing or Production
		Stadium Wind, S.L.U.	Holding Shares or Other Equity Instruments
		Stadium Wind, S.L.U.	Internal Group Finance
		Zarza M Solar, S.L.U.	Manufacturing or Production
the Netherlands	NL	Buitengaats C.V.	Manufacturing or Production
		Buitengaats Management B.V.	Administrative, Management or Support Services
		Buitengaats Management B.V.	Holding Shares or Other Equity Instruments
		Castor I B.V.	Holding Shares or Other Equity Instruments
		Northland Power Employment B.V.	Administrative, Management or Support Services
		Northland Power Europe Netherlands B.V.	Administrative, Management or Support Services
			Holding Shares or Other Equity Instruments
			Internal Group Finance
		Northland Power International Holdings B.V.	Administrative, Management or Support Services
			Holding Shares or Other Equity Instruments
			Internal Group Finance
		Northland Power Korea Holdings B.V.	Holding Shares or Other Equity Instruments
		Northland Power Poland Holdings B.V.	Dormant
		NP Baltic Wind B.V.	Administrative, Management or Support Services
			Holding Shares or Other Equity Instruments
			Internal Group Finance
		NPEW North B.V.	Holding Shares or Other Equity Instruments
		NPEW North B.V.	Internal Group Finance
		Pollux I B.V.	Holding Shares or Other Equity Instruments
		ZeeEnergie C.V.	Manufacturing or Production
		ZeeEnergie Management B.V.	Administrative, Management or Support Services
		ZeeEnergie Management B.V.	Holding Shares or Other Equity Instruments

Section 4 – Omitted information

Information omitted (if any) for this financial year:

n/a

Information omitted in previous financial years, which is disclosed in this financial year (if any):

n/a

5. Explanation of Key Drivers

The Group’s profitability and tax contributions vary by jurisdiction. Key factors include:

The stage of project lifecycle (development, construction, or operational)
Local tax rates and incentives for renewable energy investments
Variability of wind and solar resources
Operational efficiencies
Financing structures supporting large-scale infrastructure projects
Market-specific electricity pricing mechanisms

6. Conclusion

Northland remains committed to transparent and responsible tax practices. Our tax contributions reflect our global footprint and the substantive economic activities we undertake across multiple jurisdictions.
This Public CbCR report will be updated annually in accordance with applicable regulatory requirements.
A copy of this Public CbCR has also been filed with the German trade register, with one of Northland’s German subsidiaries, Northland Power Europe GmbH, being appointed as the EU filing hub. Please note, that Germany does not require the Public CbCR to also be filed on a local, German website.

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