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OEFC Seeks Leave to Appeal From Global Adjustment Decision

Press Release

TORONTO, ON–(June 23, 2016) – Northland Power Inc. (“Northland”) (TSX: NPI) (TSX: NPI.PR.A) (TSX: NPI.PR.B) (TSX: NPI.PR.C) (TSX: NPI.DB.B) (TSX: NPI.DB.C) announced today that the Ontario Electricity Financial Corporation (OEFC) has filed an application for leave to appeal to the Supreme Court of Canada the decision of the Ontario Court of Appeal confirming the ruling of the Superior Court in favour of Northland and other power producers in relation to the interpretation of their power purchase agreements with OEFC. As announced on April 19, 2016, the Ontario Court of Appeal ruled in favour of Northland.

Northland has also been advised that OEFC intends to seek a stay of the Superior Court judgment that OEFC pay to Northland approximately $90 million (including interest) of lost revenue from the period prior to the original decision.

Northland intends to oppose both the application for leave to appeal and the application for the stay of the approximately $90 million lost revenue payment.

ABOUT NORTHLAND

Northland is an independent power producer founded in 1987, and publicly traded since 1997. Northland develops, builds, owns and operates facilities that produce ‘clean’ (natural gas) and ‘green’ (wind, solar, and hydro) energy, providing sustainable long-term value to shareholders, stakeholders, and host communities.

The Company owns or has a net economic interest in 1,394 MW of operating generating capacity and 932 MW (642 MW net to Northland) of generating capacity under construction, including a 60% equity stake in Gemini, a 600 MW offshore wind project, and an 85% equity stake in Nordsee One, a 332 MW offshore wind project, both located in the North Sea.

Northland’s cash flows are diversified over four geographically separate regions and regulatory jurisdictions in Canada and Europe.

Northland’s common shares, Series 1, Series 2 and Series 3 preferred shares and Series B and Series C convertible debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B, NPI.PR.C, NPI.DB.B, and NPI.DB.C, respectively.

For further information please contact:

Barb Bokla
Manager, Investor Relations
647-288-1438
investorrelations@northlandpower.ca

Or

Sarah Charuk
Director of Communications
647-288-1105
Sarah.charuk@northlandpower.ca

IBF3

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