Power Purchase Agreement (PPA) announcement

Spring breaks are starting across the province, and mornings are starting to feel a little warmer and a little
brighter. Prices settled $0.10/MWh lower than last week at $32.65/MWh. Wind generation was forecasted over
1 GW in peak hours over the week keeping settles fairly low. As March comes to an end, a significant price jump
is expected with mothballing and thermal outages occurring in April.

Gas prices settled 3% lower week over week at $1.86/GJ. Capacity cuts on the Nova line are expected to start as
early as April 1 for summer maintenance, which will restrict capacity and may increase prices.

The Balancing Pool announced that the Battle River 5 PPA, which represents 368 MW of market offer control, will
be returned to industry no later than September 31, 2018. Forward prices have reacted slightly to this
announcement, up an average $0.50/MWh.