Northland Power Reports on the 2021 Annual and Special Meeting
TORONTO, May 19, 2021 (GLOBE NEWSWIRE) — Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) today announced the results of the election of Directors at its Annual and Special Meeting (“the Meeting”) held on May 19, 2021 in a virtual-only meeting format.
The total number of voting shares represented by shareholders present electronically and by proxy at the Meeting was 126,732,525, representing 62.54% of Northland’s outstanding voting shares.
The nine nominees proposed by Management for election as Directors, including the two new Directors, Kevin Glass and Helen Mallovy Hicks, were elected. Information on each of the Director Nominees is contained in Northland’s Management Information Circular dated April 14, 2021, which is available on the company’s website at www.northlandpower.com
The votes received were as follows:
| Nominee | Votes For | Percent | Withheld | Percent | ||
| John W. Brace | 123,200,266 | 97.64 | % | 2,975,886 | 2.36 | % |
| Linda L. Bertoldi | 126,040,320 | 99.89 | % | 135,832 | 0.11 | % |
| Dr. Marie Bountrogianni | 115,725,233 | 91.72 | % | 10,450,919 | 8.28 | % |
| Lisa Colnett | 120,806,417 | 95.74 | % | 5,369,735 | 4.26 | % |
| Russell Goodman | 123,884,343 | 98.18 | % | 2,291,809 | 1.82 | % |
| Keith Halbert | 125,511,335 | 99.47 | % | 664,817 | 0.53 | % |
| Ian Pearce | 116,628,539 | 92.43 | % | 9,547,613 | 7.57 | % |
| Kevin Glass | 125,547,078 | 99.50 | % | 629,074 | 0.50 | % |
| Helen Mallovy Hicks | 124,014,342 | 98.29 | % | 2,161,810 | 1.71 | % |
The Board of Directors accordingly fixed the number of Directors to be elected at nine and the election proceeded on that basis.
The Appointment of Ernst & Young LLP to serve as the independent auditors of Northland, and setting of their remuneration, until the next annual meeting was approved. Votes received were as follows:
| Votes For | Percent | Withheld | Percent | ||
| 117,629,627 | 92.82 | % | 9,102,898 | 7.18 | % |
The resolution to amend the Corporation’s articles to increase the permitted size of Board from the current range of three to nine directors to a range of three to twelve directors, and to permit the removal of all references to the Class A shares and Class B and C Convertible Shares was approved. Votes received were as follows:
| Votes For | Percent | Against | Percent | ||
| 125,207,404 | 99.23 | % | 967,748 | 0.77 | % |
Northland’s approach to executive compensation was accepted. Votes received were as follows:
| Votes For | Percent | Against | Percent | ||
| 123,341,126 | 97.75 | % | 2,835,025 | 2.25 | % |
ABOUT NORTHLAND POWER
Northland Power is a global power producer dedicated to helping the clean energy transition by producing electricity from clean renewable resources. Founded in 1987, Northland has a long history of developing, building, owning and operating clean and green power infrastructure assets and is a global leader in offshore wind. In addition, Northland owns and manages a diversified generation mix including onshore renewables and efficient natural gas energy, as well as supplying energy through a regulated utility.
Headquartered in Toronto, Canada, with global offices in eight countries, Northland owns or has an economic interest in 2.7 GW (net 2.3 GW) of operating generating capacity and a significant inventory of early to mid-stage development opportunities encompassing approximately 4 to 5 GW of potential capacity.
Publicly traded since 1997, Northland’s common shares, Series 1, Series 2 and Series 3 preferred shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B and NPI.PR.C, respectively.
For further information, please contact:
Wassem Khalil, Senior Director, Investor Relations & Strategy
+1 (647) 288-1019
investorrelations@northlandpower.com
