Results by Plant Category and Other The Company reports results of operations in the following categories: (i) Alberta commercial plants, acquired Sundance PPA and portfolio optimization, (ii) Alberta contracted plants, (iii) Ontario and British Columbia contracted plants, (iv) North East U.S. commercial plants and portfolio optimization, (v) North Carolina U.S. contracted plants, (vi) CPILP plants, (vii) Other portfolio activities, and (viii) Corporate. (unaudited, $ millions) Year ended December 31 2012 2011 Revenues and other income Alberta commercial plants, acquired Sundance PPA and portfolio optimization (1) 673 793 Alberta contracted plants 282 314 Ontario and British Columbia contracted plants (2) 56 51 North East U.S. commercial plants and portfolio optimization (3) 220 173 North Carolina U.S. contracted plants (4) 71 14 CPILP plants - 447 Other portfolio activities 53 92 Corporate 26 22 Interplant category transaction eliminations (37) (64) 1,344 1,842 Unrealized changes in fair value of CPLP’s energy derivative instruments and Atlantic Power shares (13) (62) Unrealized changes in fair value of CPILP’s foreign exchange contracts - (10) (13) (72) 1,331 1,770 Adjusted EBITDA (5) Alberta commercial plants, acquired Sundance PPA and portfolio optimization (1) 319 224 Alberta contracted plants 169 190 Ontario and British Columbia contracted plants (2) 42 38 North East U.S. commercial plants and portfolio optimization (3) 25 26 North Carolina U.S. contracted plants (4) 4 4 CPILP plants - 148 Other portfolio activities 10 8 Corporate (113) (105) 456 533 Unrealized changes in fair value of CPLP’s energy derivative instruments and Atlantic Power shares (15) (39) Unrealized changes in fair value of CPILP’s foreign exchange and natural gas contracts - (9) (15) (48) 441 485 Financial results (1) Alberta commercial plants, acquired Sundance PPA and portfolio optimization includes Halkirk and Keephills 3 as of their dates of commissioning of December 1, 2012 and September 1, 2011, respectively. Revenues and expenses related to commissioning activities, prior to the dates of commissioning, were capitalized as part of the cost of the facility. (2) Ontario and British Columbia contracted plants include Quality Wind as of its date of commissioning of November 6, 2012. Revenues and expenses related to commissioning activities, prior to the dates of commissioning, were capitalized as part of the cost of the facility. (3) North East U.S. commercial plants and portfolio optimization include Bridgeport and the Rumford and Tiverton facilities as of their dates of acquisition of April 28, 2011 and April 29, 2011, respectively. (4) North Carolina U.S. contracted plants comprises the Roxboro and Southport plants acquired from CPILP as of their date of acquisition of November 5, 2011. (5) The results by plant category and other, except for adjusted EBITDA, were prepared in accordance with GAAP. See Non- GAAP Financial Measures. Capital Power Corporation Management’s Discussion and Analysis 2012 30