WHY INVEST MODERN FLEET – UTILIZE  LEADING TECHNOLOGY } • Six efficient, combined-cycle natural gas fi red  facilities with total of 1,556 MW • Two new wind facilities (Quality Wind and  Halkirk) built with modern wind technologies  • Our jointly-owned Keephills 3 generating  facility is the most advanced coal-fi red plant  ever built in Canada • Introduced super-critical coal technology to  Alberta and North America with our jointly- owned Genesee 3 facility  • LMS100 peaking technology at our Clover  Bar Energy Centre provides the best peaking  responsiveness in Alberta  • LMS100 units can fully  ramp up in 10 minutes to  capture upside from peak  power prices and provides  flexibility to manage  Alberta power portfolio • Lower environmental  impact than older  technologies • Typically more effi cient  compared to older  technologies YOUNG FLEET HELPS KEEP AVAILABILITY HIGH  AND REDUCES RISK OF UNPLANNED OUTAGES • Lower maintenance  costs earlier in plant life • Newer facilities typically  have higher availability 1 Average facility age and remaining life weighted by owned capacity as of December 31, 2012. • Average weighted facility  age of the current fl eet is  12 years 1 • 2 new wind projects  (195 MW) begin commercial  operations in 2013-2015 0 5 10 15 20 25 30 35 40 45 50 Genesse 2 Genesse 1 Genesee 3 Keephills 3 Roxboro Southport Kingsbridge 1 Quality Wind Halkirk Bridgeport Rumford Tiverton Joffre Island Generation CBEC 1 CBEC 2 CBEC 3 FACILITY AGE s Gas  (~24 years remaining life) s Wind Solid Fuels  (US) s Canada coal  (~35 years remaining life) Facility age Remaining life } CAPITAL POWER  2012 ANNUAL REPORT 6