Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment The following table reflects adjusted EBITDA by segment and provides reconciliation to earnings (loss) before income taxes for the three months ended March 31, 2021: Three months ended, March 31, 2021 Hydro Wind & Solar(1) Gas Energy Transition Energy Marketing Corporate Total Equity accounted investments(1) Reclass adjustments IFRS financials Revenues 89 91 266 139 61 1 647 (5) - 642 Reclassifications and adjustments: Unrealized mark-to-market (gain) loss - 5 (23) 6 (8) - (20) - 20 - Decrease in finance lease receivable - - 10 - - 10 - (10) - Finance lease income - - 7 - - 7 - (7) - Unrealized foreign exchange (gain) loss on commodity - - - - - - - - - Adjusted revenues 89 96 260 145 53 1 644 (5) 3 642 Fuel and purchased power 1 4 108 129 - 1 243 - - 243 Reclassifications and adjustments: Australian interest income - - (1) - - - (1) - 1 - Mine depreciation - - (27) (28) - - (55) - 55 - Coal Inventory write-down - - - (8) - - (8) - 8 - Adjusted fuel and purchased power 1 4 80 93 - 1 179 - 64 243 Carbon compliance - - 39 11 - - 50 - - 50 Gross margin 88 92 141 41 53 - 415 (5) (61) 349 OM&A 10 13 42 23 10 8 106 (1) - 105 Reclassifications and adjustments: Parts and materials write-down - - - - - - - - - - Curtailment gain - - - - - - - - - - Adjusted OM&A 10 13 42 23 10 8 106 (1) - 105 Taxes, other than income taxes 1 3 3 2 - - 9 - - 9 Net other operating income - - (10) - - - (10) - - (10) Reclassifications and adjustments: Royalty onerous contract and contract termination penalties - - - - - - - - - - Adjusted net other operating income - - (10) - - - (10) - - (10) Adjusted EBITDA 77 76 106 16 43 (8) 310 Equity income 2 Finance lease income 7 Depreciation and amortization (149) Asset impairment (29) Net interest expense (63) Foreign exchange gain 7 Gain on sale of assets and other 1 Earnings (Loss) before income taxes 21 (1) Skookumchuck has been included on a proportionate basis in the Wind and Solar segment. Includes reclassification adjustments. Attributable to common shareholders
Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment The following table reflects adjusted EBITDA by segment and provides reconciliation to earnings (loss) before income taxes for the three months ended June 30, 2021: Three months ended, June 30, 2021 Hydro Wind & Solar(1) Gas Energy Transition Energy Marketing Corporate Total Equity accounted investments(1) Reclass adjustments IFRS financials Revenues 114 79 287 101 38 4 623 (4) - 619 Reclassifications and adjustments: Unrealized mark-to-market (gain) loss - (4) (28) 23 (4) - (13) - 13 - Decrease in finance lease receivable - - 10 - - 10 - (10) - Finance lease income - - 6 - - 6 - (6) - Unrealized foreign exchange (gain) loss on commodity - - - - - - - - - Adjusted revenues 114 75 275 124 34 4 626 (4) (3) 619 Fuel and purchased power 3 3 110 92 - 4 212 - - 212 Reclassifications and adjustments: Australian interest income - - (1) - - - (1) - 1 - Mine depreciation - - (26) (24) - - (50) - 50 - Coal Inventory write-down - - - (3) - - (3) - 3 - Adjusted fuel and purchased power 3 3 83 65 - 4 158 - 54 212 Carbon compliance - - 32 10 - - 42 - - 42 Gross margin 111 72 160 49 34 - 426 (4) (57) 365 OM&A 14 15 45 46 7 24 151 - - 151 Reclassifications and adjustments: Parts and materials write-down - - (2) (23) - - (25) - 25 - Curtailment gain - - - - - - - - - - Adjusted OM&A 14 15 43 23 7 24 126 - 25 151 Taxes, other than income taxes 1 2 4 2 - - 9 (1) - 8 Net other operating income - - (10) (1) - - (11) - - (11) Reclassifications and adjustments: Royalty onerous contract and contract termination penalties - - - - - - - - - - Adjusted net other operating income - - (10) (1) - - (11) - - (11) Adjusted EBITDA 96 55 123 25 27 (24) 302 Equity income 2 Finance lease income 6 Depreciation and amortization (123) Asset impairment (16) Net interest expense (60) Foreign exchange gain 14 Gain on sale of assets and other 32 Earnings (Loss) before income taxes 72 (1) Skookumchuck has been included on a proportionate basis in the Wind and Solar segment. Includes reclassification adjustments. Attributable to common shareholders
Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment The following table reflects adjusted EBITDA by segment and provides reconciliation to earnings (loss) before income taxes for the three months ended Sept. 30, 2021: Three months ended, Sept. 30, 2021 Hydro Wind & Solar(1) Gas Energy Transition Energy Marketing Corporate Total Equity accounted investments(1) Reclass adjustments IFRS financials Revenues 96 55 384 231 86 1 853 (3) - 850 Reclassifications and adjustments: Unrealized mark-to-market (gain) loss - 21 (71) (2) (14) - (66) - 66 - Decrease in finance lease receivable - - 10 - - 10 - (10) - Finance lease income - - 6 - - 6 - (6) - Unrealized foreign exchange (gain) loss on commodity - - (3) - - (3) - 3 - Adjusted revenues 96 76 326 229 72 1 800 (3) 53 850 Fuel and purchased power 3 4 129 190 - 1 327 - - 327 Reclassifications and adjustments: Australian interest income - - (1) - - - (1) - 1 - Mine depreciation - - (26) (48) - - (74) - 74 - Coal Inventory write-down - - - (5) - - (5) - 5 - Adjusted fuel and purchased power 3 4 102 137 - 1 247 - 80 327 Carbon compliance - - 33 14 - - 47 - - 47 Gross margin 93 72 191 78 72 - 506 (3) (27) 476 OM&A 11 14 42 28 14 23 132 (1) - 131 Reclassifications and adjustments: Parts and materials write-down - - - (6) - - (6) - 6 - Curtailment gain - - - - - - - - - - Adjusted OM&A 11 14 42 22 14 23 126 (1) 6 131 Taxes, other than income taxes - 3 4 1 - 1 9 - - 9 Net other operating income - - (10) 57 - - 47 - - 47 Reclassifications and adjustments: Royalty onerous contract and contract termination penalties - - - (57) - - (57) - 57 - Adjusted net other operating income - - (10) - - - (10) - 57 47 Adjusted EBITDA 82 55 155 55 58 (24) 381 Equity income 1 Finance lease income 6 Depreciation and amortization (123) Asset impairment (575) Net interest expense (63) Foreign exchange gain 1 Gain on sale of assets and other 23 Earnings (Loss) before income taxes (441) (1) Skookumchuck has been included on a proportionate basis in the Wind and Solar segment. Includes reclassification adjustments. Attributable to common shareholders
Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment The following table reflects adjusted EBITDA by segment and provides reconciliation to earnings (loss) before income taxes for the three months ended Dec. 31, 2021: Three months ended, Dec. 31, 2021 Hydro Wind & Solar(1) Gas Energy Transition Energy Marketing Corporate Total Equity accounted investments(1) Reclass adjustments IFRS financials Revenues 84 98 172 238 26 (2) 616 (6) - 610 Reclassifications and adjustments: Unrealized mark-to-market (gain) loss - 3 82 (8) (12) - 65 - (65) - Decrease in finance lease receivable - - 11 - - - 11 - (11) - Finance lease income - - 6 - - - 6 - (6) - Unrealized foreign exchange (gain) loss on commodity - - - - - - - - - - Adjusted revenues 84 101 271 230 14 (2) 698 (6) (82) 610 Fuel and purchased power 9 6 110 149 - (2) 272 - - 272 Reclassifications and adjustments: Australian interest income - - (1) - - - (1) - 1 - Mine depreciation - - - (11) - - (11) - 11 - Coal Inventory write-down - - - (1) - - (1) - 1 - Adjusted fuel and purchased power 9 6 109 137 - (2) 259 - 13 272 Carbon compliance - - 14 25 - - 39 - - 39 Gross margin 75 95 148 68 14 - 400 (6) (95) 299 OM&A 7 17 46 20 5 29 124 - - 124 Reclassifications and adjustments: Parts and materials write-down - - - 3 - - 3 - (3) - Curtailment gain - - - 6 - - 6 - (6) - Adjusted OM&A 7 17 46 29 5 29 133 - (9) 124 Taxes, other than income taxes 1 2 2 1 - - 6 - - 6 Net other operating income - - (10) (8) - - (18) - - (18) Reclassifications and adjustments: Royalty onerous contract and contract termination penalties - - - 9 - - 9 - (9) - Adjusted net other operating income - - (10) 1 - - (9) - (9) (18) Adjusted EBITDA 67 76 110 37 9 (29) 270 Equity income 4 Finance income from subsidiaries 6 Depreciation and amortization (134) Asset impairment (28) Net interest expense (59) Foreign exchange loss (6) Gain on sale of assets and other (2) Earnings (Loss) before income taxes (32) (1) Skookumchuck has been included on a proportionate basis in the Wind and Solar segment. Includes reclassification adjustments. Attributable to common shareholders