Reconciliation of Non-GAAP Performance Measures The following table reconciles Adjusted EBITDA and AFFO to the nearest GAAP measures: For the year ended Dec 31, 2013 Dec 31, 2012 EBITDA 185,058 163,471 Foreign exchange (gain) loss (2,924) (1,620) Other (gains) and losses, net (9,789) (1,294) Equity accounted (income) loss 2,638 (2,294) Distributions from equity accounted investments 3,982 2,001 Net pension interest income (1,817) (2,934) Non-controlling interest ("NCI") portion of Adjusted EBITDA (48,727) (36,987) Adjusted EBITDA 128,421 120,343 Cash flow from operating activities 135,676 114,678 Cash flow from operating activities from businesses with non-controlling interests (87,655) (76,474) Distributions paid to Capstone from businesses with non-controlling interests 8,111 8,091 Distributions from equity accounted investments 3,982 2,001 Foreign exchange on loans receivable from Värmevärden (34) (415) Chapais loans receivable principal repayments 1,096 984 Power maintenance capital expenditures (4,387) (5,398) Power and corporate scheduled principal repayments (14,886) (12,581) Power and corporate working capital changes 1,781 8,427 Dividends on redeemable preferred shares (3,750) (3,750) AFFO 39,934 35,563 2013 ANNUAL REPORT  23