CAREERS CONTACT US CORPORATE INVESTORS NEWS ASSETS FINANCIALS FINANCIAL HIGHLIGHTS Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands except per share amounts) 2021 2020 2021 2020 Revenue 44,224 17,726 118,596 29,444 Adjusted EBITDA(1) 20,639 5,698 51,503 6,304 Net income 18,092 498 74,107 337 Earnings per share – basic 0.36 0.01 1.49 0.01 Earnings per share – diluted 0.30 0.01 1.21 0.01 Total generation – (MWh)(2) 418,511 349,756 1,132,102 499,558 Average Alberta market power price ($ per MWh) 100.33 43.83 100.12 46.91 Average realized power price ($ per MWh)(2) 105.67 50.68 104.76 58.94 Total net debt (3) 14,201 67,269 14,201 67,269 Total assets 296,604 235,915 296,604 235,915 (1) Select financial information was derived from the consolidated financial statements and is prepared in accordance with GAAP, except adjusted Earnings before Interest, Income Taxes, Depreciation and Amortization (“Adjusted EBITDA”). Adjusted EBITDA is provided to assist management and investors in determining the Corporation’s approximate operating cash flows before interest, income taxes, and depreciation and amortization and certain other other non-recurring income and expenses. (2) Total generation and average realized power prices for 2021 relate to Milner 2 (“M2”) and 2020 relate to both M2 and HR Milner (“Milner”) (3) Total net debt was derived from the consolidated financial statements to include: loans and borrowings (including the convertible loan facility), current liabilities, other long-term liability, less total current assets. QUARTERLY REPORTS 2021 Q1 Q2 Q3 2020 Q1 Q2 Q3 2019 Q1 Q2 Q3 ANNUAL REPORTS 2020 Financial Statements and MD&A Management Information Circular 2019 Financial Statements and MD&A Management Information Circular 2018 Financial Statements and MD&A Management Information Circular DISCLAIMER Financials Corporate Information CURRENT STOCK QUOTE Symbol: MXG Last Trade 3.68 $ Change 0.07 % Change 1.94% Volume 2.76k INVESTOR LINKS Investor Contact investors@maximpowercorp.com SEDAR SEDAR Profile (403) 263-3021 (403) 263-9125 - fax Send email 1800, 715 - 5th Avenue S.W. Calgary, Alberta, CANADA T2P 2X6 Corporate Investors News Assets ABOUT US Based in Calgary, Alberta, Maxim Power Corp. ("MAXIM") is one of Canada's largest truly independent power producers. MAXIM is now focused entirely on power projects in Alberta. Its core asset - the 204 MW H.R. Milner Plant ("M2") in Grande Cache, AB is a state-of-the-art natural gas-fired power plant that commissioned in Q2, 2020. MAXIM is currently increasing the capacity of M2 to approximately 300 MW and concurrently will realize an improvement in the efficiency of the plant by investing in heat recovery combined cycle technology. In addition, MAXIM continues to explore additional development options in Alberta including its currently permitted gas-fired generation projects and the permitting of its wind power generation project. MAXIM trades on the TSX under the symbol MXG. SEARCH ©2021 Maxim Power Corp. All rights reserved.