Capital Power Corporation Management’s Discussion and Analysis 2012 60 Disclosure Controls and Procedures and Internal Control over Financial Reporting As at December 31, 2012, management conducted an evaluation of the design and operation of the Company’s disclosure controls and procedures to provide reasonable assurance that: The evaluation took into consideration the Company’s Disclosure Policy and internal sub-certification process, and the functioning of its Disclosure Committee. In addition, the evaluation covered the Company’s processes, systems and capabilities relating to public disclosures and the identification and communication of material information. Based on that evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that the Company’s disclosure controls and procedures are appropriately designed and effective. As at December 31, 2012, management conducted an evaluation of the design and operation of internal controls over financial reporting to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that the Company’s internal controls over financial reporting are appropriately designed and effective. These evaluations were conducted in accordance with the standards of the Committee of Sponsoring Organizations, a recognized control model, and the requirements of the Canadian Securities Administrators’ National Instrument 52- 109. There were no changes in the Company’s internal controls over financial reporting that occurred during 2012 that have materially affected, or are reasonably likely to materially affect the Company’s internal control over financial reporting. (ii) that information required to be disclosed by the Company in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation. (i) material information relating to the Company is made known to management by others, particularly during the period in which the Company’s annual filings are being prepared, and