3-YEAR OPERATIONAL AND FINANCIAL HIGHLIGHTS  (millions of dollars except per share and operational amounts) (unaudited) 2012 2011 2010 Operational Number of facilities at year-end (1) 16 16 32 Electricity generation$^{(1)}$ (GWh) 16,374 13,659 9,205 Plant availability average$^{(1)}$ (%) 91% 92% 90% Financial Position  Total assets $5,134 $4,743 $5,296 Loans and borrowings including current portion $1,659 $1,480 $1,869 Income Revenues and other income $1,331 $1,770 $1,762 Adjusted EBITDA (2) $441 $485 $418 Net Income $90 $188 $77 Net income attributable to shareholders $62 $77 $17 Normalized earnings attributable to common shareholders (2) $86 $55 $32 Basic earnings per share $0.84 $1.60 $0.77 Diluted earnings per share (3) $0.84 $1.59 $0.69 Normalized earnings per share (2) $1.29 $1.24 $1.40 Cash Flows Funds from operations (2,4) $381 $352 $277 Discretionary cash fl ow (2) $132 $131 $110 Cash flow per share (2) $3.89 $3.89 $3.53 Capital expenditures $598 $493 $329 Dividend Dividends per common share  $1.26 $1.26 $1.26 Payout ratio (5) 47% 45% 47% Common Share Information (C$ except volume and shares) High $25.72 $28.00 $24.84 Low $20.75 $21.50 $20.97 Close $22.73 $25.12 $23.65 Volume traded (millions) 39.7 36.6 17.8 Average daily trading volume (thousands) 158.0 146.4 71.1 Weighted average number of common shares outstanding (millions) 66.8 44.3 22.2 1  In November 2011, the Capital Power Income L.P. (CPILP) plants excluding Roxboro and Southport, were disposed of as part  of the Atlantic Power acquisition of the CPILP partnership units. Electricity generation and Plant availability average excludes  CPILP plants in 2010 and 2011 and excludes the acquired Sundance PPA in all three years.  2  The consolidated financial highlights, except for adjusted EBITDA, normalized earnings attributable to common shareholders,  normalized earnings per share, funds from operations, cash flow per share, and discretionary cash flow, were prepared in  accordance with GAAP. See Non-GAAP Financial Measures in the Management’s Discussion and Analysis. 3  Diluted earnings per share was calculated after giving effect to share purchase options and the exchange of common limited  partnership units of CPLP held by EPCOR which are exchangeable for common shares of Capital Power on a one-for-one basis. 4  Excluding non-controlling interests in CPILP. 5  Calculated as dividends per common share divided by adjusted funds from operations (AFFO) per share. AFFO is defi ned as  funds from operations excluding non-controlling interests in CPILP less sustaining capital expenditures.