Capital Power (CPX) Investor presentation summary

Platform overview and financial strength

• Enterprise value of $17.9B and market capitalization of ~$10B, with investment grade credit ratings.

• 75% of cash flows are high quality and long-term contracted, supporting stability.

• Diverse fleet across five key North American markets, with ~90% natural gas and ~60% U.S. exposure.

Strategic execution and growth

• Delivered 2.2 GW of acquisitions and 2 GW of contracted capacity in 2025, with ongoing expansion.

• Focused on acquiring, optimizing, and developing assets, including 385 MW of uprates and 300 MW of new renewable capacity.

• Maintains a deep pipeline of ~25 GW, with proven ability to convert opportunities into growth.

Market drivers and natural gas focus

• U.S. power demand is forecast to grow 20% by 2030, driven by AI infrastructure and data center expansion.

• Natural gas remains the largest and most cost-effective source of firm power, with faster speed to market than alternatives.

• Acquiring gas assets offers superior returns and faster growth compared to new builds.