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CHARGE SIZE PER KWH CLAUSE CLAUSE W/O FUEL Adjustment FUEL W/O Cust Chg 10, 10YS $7.00 FIRST 200 $0.11186 0.00922 0.00371 $0.12479 0.02343 $0.14822 NEXT 600 $0.11004 0.009220.00371 $0.12297 0.00000 0.02343 $0.14640 NEXT 200 $0.09913 0.009220.00371 $0.11206 0.00000 0.02343 $0.13549 NEXT 200 $0.07909 0.009220.00371 $0.09202 0.00000 0.02343 $0.11545 OVER 1200 $0.03565 0.009220.00371 $0.04858 0.00000 0.02343 $0.07201 11, 11YS $7.00 FIRST 200 $0.11186 0.009220.00371 $0.12479 0.00000 0.02343 $0.14822 NEXT 600 $0.11004 0.009220.00371 $0.12297 0.00000 0.02343 $0.14640 NEXT 200 $0.09913 0.009220.00371 $0.11206 0.00000 0.02343 $0.13549 NEXT 200 $0.02955 0.009220.00371 $0.04248 0.00000 0.02343 $0.06591 OVER 1200 $0.02955 0.009220.00371 $0.04248 0.00000 0.02343 $0.06591 14, 14YS $4.00 ALL KWH $0.03610 0.009220.00371 $0.04903 0.00000 0.02343 $0.07246 15, 15YS $4.00 ALL KWH $0.03050 0.009220.00371 $0.04343 0.00000 0.02343 $0.06686 16O $55.00 ALL KWH $0.02948 0.01003 0.00403 $0.04354 0.00000, $0.02948 0.01003 0.00403 $0.04354 0.00000 0.02343 $0.06697 16P $0.00 ALL KWH $0.15496 0.010030.00403 $0.16902 0.00000 0.02343 $0.19245 16S $0.00 ALL KWH $0.06684 0.010030.00403 $0.08090 0.00000 0.02343 $0.10433 17, 17W $0.00 ALL KWH $0.05706 0.010030.00403 $0.07112 0.00000 0.02343 $0.09455 21, 21YS $12.00 FIRST 200 $0.13925 0.010030.00403 $0.15331 0.00000 0.02343 $0.17674 NEXT 800 $0.12277 0.010030.00403 $0.13683 0.00000 0.02343 $0.16026 OVER 1000 $0.09823 0.010030.00403 $0.11229 0.00000 0.02343 $0.13572 23, 23YS $8.00 ALL KWH $0.05900 0.010030.00403 $0.07306 0.00000 0.02343 $0.09649 24, 24YS $8.00 ALL KWH $0.03288 0.010030.00403 $0.04694 0.00000 0.02343 $0.07037 25, 25YS $17.00 FIRST 100 X DEM $0.12934 0.010030.00403 $0.14340 0.00000 0.02343 $0.16683 NEXT 100 X DEM $0.03670 0.010030.00403 $0.05076 0.00000 0.02343 $0.07419 NEXT 100 X DEM $0.01931 0.010030.00403 $0.03337 0.00000 0.02343 $0.05680 OVER 300 X DEM $0.01353 0.010030.00403 $0.02759 0.00000 0.02343 $0.05102 33, 33YS DEMAND, ALL KW $13.20000 2.17000 0.87000 $16.24000 $16.24000 ENERGY FIRST 100 X DEM $0.07514 0.000000.00000 $0.07514 0.00000 0.02343 $0.09857 NEXT 300 X DEM $0.05168 0.000000.00000 $0.05168 0.00000 0.02343 $0.07511 NEXT 100 X DEM $0.03053 0.000000.00000 $0.03053 0.00000 0.02343 $0.05396 OVER 500 X DEM $0.01642 0.000000.00000 $0.01642 0.00000 0.02343 $0.03985 34, 34YS DEMAND FIRST 100 KW $13.20000 2.170000.87000 $16.24000 $16.24000 NEXT 400 KW $11.69000 2.170000.87000 $14.73000 $14.73000 OVER 500 KW $10.19000 2.170000.87000 $13.23000 $13.23000 ENERGY FIRST 100 X DEM $0.05865 0.000000.00000 $0.05865 0.00000 0.02343 $0.08208 NEXT 300 X DEM $0.02804 0.000000.00000 $0.02804 0.00000 0.02343 $0.05147 NEXT 100 X DEM $0.01904 0.000000.00000 $0.01904 0.00000 0.02343 $0.04247 OVER 500 X DEM $0.01005 0.000000.00000 $0.01005 0.00000 0.02343 $0.03348 41, 41YS $17.00 ALL KWH $0.08967 0.00841 0.00340 $0.10148 0.00000 0.02343 $0.12491 70SO $35.00 ALL KWH $0.01236 0.00705 0.00284 $0.02225 0.00000 0.02343, $0.04568 70MO $35.00 ALL KWH $0.01236 0.00705 0.00284 $0.02225 0.00000 0.02343 $0.04568 70MP, 70SP $0.00 ALL KWH $0.18242 0.007050.00284 $0.19231 0.00000 0.02343 $0.21574 All Rates listed above - Power Factor Charge on tab "Supplmnt Elec 3" $16.24000 Entries for "Billing Control Files", "Rate Adjustment Type Master" EFPPA Elec Fuel Purchase Power $0.02343 MIN34 Minimum Calc., KWH Charge 34 $0.082080 YNDIS YST WAPA Discount -$0.015360

FERC FINANCIAL REPORT FERC FORM No. 1: Annual Report of Major Electric Utilities, Licensees and Others and Supplemental Form 3-Q: Quarterly Financial Report | Exact Legal Name of Respondent (Company) NorthWestern Corporation

Insurance charges include both physical property and liability coverage., Due to the deficiency of supply, NorthWestern relies frequently on imported energy purchases to meet demand., The current portfolio of online resources generate energy more than our load in many hours. 2.3.2.3 Load Management Measures Effects on Projected Capacity and Energy Requirements NorthWestern’s forecast for retail customer load and peak demand including transmission line losses is shown in Table 2-5., NEM and DSM load reductions are shown separately but are also included in load and peak demand forecasts., Annual Charges for U.S.

Environmental Protection Agency (EPA) - A Federal agency charged with protecting the environment., The demand for natural gas largely depends upon weather conditions., Thus, the rates we are allowed to charge may or may not match our costs at any given time., Such technologies could also result in further declines in commodity prices or demand for delivered energy., Demand for our Montana transmission capacity fluctuates with regional demand, fuel prices and weather related conditions.

NorthWestern Energy 2022 second quarter FERC form

Demand reported in column (h) must be in megawatts., In column (k), provide revenues from demand charges related to the billing demand reported in column (h)., In column (e) report the demand charges and in column (f) energy charges related to the amount of energy transferred., Report in column (h) the total charge shown on bills rendered to the respondent., NameOfCompanyOrPublicAuthorityTransmissionOfElectricityByOthers Name of Company or Public Authority (Footnote Affiliations) (a) StatisticalClassificationCode Statistical Classification (b) TransmissionOfElectricityByOthersEnergyReceived MegaWatt Hours Received (c) TransmissionOfElectricityByOthersEnergyDelivered MegaWatt Hours Delivered (d) DemandChargesTransmissionOfElectricityByOthers Demand Charges ($) (e) EnergyChargesTransmissionOfElectricityByOthers Energy Charges ($) (f) OtherChargesTransmissionOfElectricityByOthers Other Charges ($) (g) ChargesForTransmissionOfElectricityByOthers Total Cost of Transmission ($) (h) 1 MONTANA 2 Vigilante Elec.

Very cold winters increase demand for natural gas and to a lesser extent, electricity, while warmer than normal summers increase demand for electricity, especially among our residential and commercial customers., The change in gross margin for items impacting net income includes the following: • An increase in electric retail volumes and demand driven by warmer weather and customer growth, partly offset by lower industrial demand unrelated to the COVID-19 pandemic., Thus, the rates we are allowed to charge may or may not match our costs at any given time., Such technologies could also result in further declines in commodity prices or demand for delivered energy., Reductions in usage, attributable to various factors could materially affect our results of operations, financial position, and cash flows through, among other things, reduced operating revenues, increased operating and maintenance expenses, and increased capital expenditures, as well as potential asset impairment charges or accelerated depreciation and decommissioning expenses over shortened remaining asset useful lives. 61 Demand for our Montana transmission capacity fluctuates with regional demand, fuel prices and weather related conditions.

 Understanding Yo u r N o r t hWestern Electric Meter C o n v e n t i o n a l M e t e r i n g C u s t o m e r s Max Kilowatts Delivered 04 = Max Kilowatts Delivered The current max demand is displayed in kilowatts., Demand charges are for customers with a demand rate type., This screen is displayed whether they are a demand customer or not.

When available, copies of the preliminary prospectus supplement, prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the Securities and Exchange Commission's website at www.sec.gov (http://www.sec.gov) or from BofA Securities by sending a request to: BofA Securities, NC1-004-03-43; 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department or by email at dg.prospectus_requests@bofa.com or from J.P., Our actual future business and financial NorthWestern Corporation Announces Pricing of Public Offering of Common Stock November 17, 2021 Page 3 performance may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to:  adverse determinations by regulators, as well as potential adverse federal, state, or local legislation or regulation, including costs of compliance with existing and future environmental requirements, could have a material effect on our liquidity, results of operations and financial condition;  the impact of extraordinary external events, such as the COVID-19 pandemic, on our liquidity, results of operations and financial condition;  changes in availability of trade credit, creditworthiness of counterparties, usage, commodity prices, fuel supply costs or availability due to higher demand, shortages, weather conditions, transportation problems or

Learn what to expect on your monthly statement with net metering.

Very cold winters increase demand for natural gas and to a lesser extent, electricity, while warmer than normal summers increase demand for electricity, especially among our residential and commercial customers., Thus, the rates we are allowed to charge may or may not match our costs at any given time., Demand for electricity and natural gas is often greater in the summer and winter months associated with cooling and heating., Such technologies could also result in further declines in commodity prices or demand for delivered energy., Demand for our Montana transmission capacity fluctuates with regional demand, fuel prices and weather related conditions.

Demand reported in column (h) must be in megawatts., In column (k), provide revenues from demand charges related to the billing demand reported in column (h)., In column (I), provide revenues from energy charges related to the amount of energy transferred., In column (e) report the demand charges and in column (f) energy charges related to the amount of energy transferred., Report in column (h) the total charge shown on bills rendered to the respondent.

NorthWestern manages the transmission system as a Balancing 7 Authority Area (“BAA”) operator, with responsibility for ensuring that 8 system supply and demand are in constant balance., When demand and 12 supply are not in balance, equipment damages, cascading outages, or 13 blackouts can result., Since NorthWestern began to interconnect and integrate variable energy 20 resources, such as wind and solar, to the transmission system, we have 21 had to add other resources to our system in order to provide the capacity 22 needed for balancing the supply with demand on the system., We have mitigated staff-related issues, in particular 11 within our 24-hour transmission control room operations, by utilizing our 12 back-up control centers to separate crews to limit potential exposures. 13 14 We have and are currently experiencing long materials and equipment 15 lead times, rising costs, and materials availability issues associated with 16 constraints in the supply chain and increased demand within the market. 17 The supply chain impacts create increased cost and schedule risks for 18 capital projects and ongoing maintenance activities., For 11 example, an emerging reliability or compliance issue may receive a 12 greater relative ranking in the overall annual budgeting process. 13 14 In addition, our Asset Management group is charged with developing and 15 maintaining strategies for assessing asset life and planning for appropriate 16 replacement of facilities.

Environmental Protection Agency (EPA) - A Federal agency charged with protecting the environment., Our total control area peak demand was approximately 1,799 MWs on January 14, 2020., The demand for natural gas largely depends upon weather conditions., Thus, the rates we are allowed to charge may or may not match our costs at any given time., Very cold winters increase demand for natural gas and to a lesser extent, electricity, while warmer than normal summers increase demand for electricity, especially among our residential and commercial customers.

NorthWestern Energy 2022 third quarter FERC form

Our electric supply from owned and long-term contracted resources is not adequate to meet our peak- demand needs., Because of this, the volatility of market prices for energy on peak-demand days, even if only for a few days in duration, exposes us to potentially significant market purchases that could negatively impact our results of operations and cash flows., Our owned and long-term contracted resources are inadequate to supply the necessary capacity we require to meet our peak-demand loads, which exposes us to large quantities of market purchases at typically high and volatile energy prices., We remain concerned regarding an overall lack of capacity in the West and our owned and long-term contracted capacity deficit to meet peak-demand loads., Income tax expense for the three months ended March 31, 2023 includes a one- time $3.2 million charge for the reduction of previously claimed alternative minimum tax credits.

 NorthWestern Energy Schedule O‐12 Electric Utility ‐ State of South Dakota Page 1 of 1 Pro Forma Year Ending December 31, 2012 Derivation of Increased Rates and Proof of Revenue Billing Billing Line Description Units Rate Revenue Units Rate Revenue $ % 1 Point to Point Distr Only Service Rate 38 2 Summer Rate 3 Demand Charge 26,657 $3.34 $89,035 26,657 $4.18 $111,427 $22,392 25.15% 4 Sub‐total Summer Rate 5 Booked to Billed Revenue Ratio 6 Booked Base Rate Revenue 7 8 Off‐Peak Rate 9 Demand Charge 41,704 $3.34 $139,290 41,704 $4.18 $174,321 $35,030 25.15% 10 Sub‐total Off‐Peak Rate 11 Booked to Billed Revenue Ratio 12 Booked Base Rate Revenue 13 14 Total Point to Point Distr Only Rate 38 68,361 $228,326 68,361 $285,748 $57,422 25.15% ‐‐‐‐‐‐‐‐‐‐ Present Rates ‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐ Proposed Rates ‐‐‐‐‐‐‐‐‐‐ Revenue Change

Very cold winters increase demand for natural gas and to a lesser extent, electricity, while warmer than normal summers increase demand for electricity, especially among our residential and commercial customers., Thus, the rates we are allowed to charge may or may not match our costs at any given time., Demand for electricity and natural gas is often greater in the summer and winter months associated with cooling and heating., Such technologies could also result in further declines in commodity prices or demand for delivered energy., Demand for our Montana transmission capacity fluctuates with regional demand, fuel prices and weather related conditions.

Montana Taxes Other Than Income 11 Payments for Services 12 Political Action Committees/Political Contributions not applicable 13 Pension Costs not applicable 14 Other Post Employment Benefits not applicable 15 Top Ten Montana Compensated Employees not applicable 16 Top Five Corporate Compensated Employees not applicable 17 Balance Sheet 18 Havre Pipeline Company, LLC Annual Report Table of Contents Description continued on next page Schedule Montana Plant in Service 19 Montana Depreciation Summary 20 Montana Materials and Supplies 21 Montana Regulatory Capital Structure 22 Statement of Cash Flows 23 Long Term Debt not applicable 24 Preferred Stock not applicable 25 Common Stock not applicable 26 Montana Earned Rate of Return 27 Montana Composite Statistics 28 Montana Customer Information 29 Montana Employee Counts not applicable 30 Montana Construction Budget 31 Transmission, Distribution and Storage Systems 32 Sources of Gas Supply 33 MT Conservation and Demand, Programs not applicable 34 Montana Consumption and Revenues 35 Natural Gas Universal System Benefits Programs not applicable 36a Montana Conservation and Demand Side Mgmt., Sch. 6 Charges% of TotalCharges Affiliate NameProducts & ServicesMethod to Determine Priceto UtilityAffil., Rev.to MT Utility 1 2 Nonutility Affiliates 3 4$ — $ — 6 7 8 9 Utility Affiliates 10NorthWestern CorporationAdministration FeeNegotiated Contract Rate$ 511,733 $ 511,733 11NorthWestern CorporationLabor CostActual Expense 1,293,304 1,293,304 12 13$ 1,805,037 $ 1,805,037 15$ 1,805,037 $ 1,805,037 Schedule 6 AFFILIATE TRANSACTIONS - PRODUCTS & SERVICES PROVIDED TO UTILITY Total Nonutility Affiliates Total Utility Affiliates TOTAL AFFILIATE TRANSACTIONS Sch. 7 Charges% of TotalRevenues Affiliate NameProducts & ServicesMethod to Determine Priceto AffiliateAffil., Accounts Receivable (3,223) 3,157 (202.09)% 30 143 Other Accounts Receivable 170,406 265,200 (35.74)% 31 144 Accumulated Provision for Uncollectible Accounts — — - 32 145 Notes Receivable-Associated Companies — — - 33 146 Accounts Receivable-Associated Companies 496,446 326,954 51.84 % 34 151 Fuel Stock — — - 35 154 Plant Materials and Operating Supplies 708,125 713,949 (0.82)% 36 164 Gas Stored - Current — — - 37 165 Prepayments — — - 38 171 Interest and Dividends Receivable — — - 40 172 Rents Receivable — — - 41 173 Accrued Utility Revenues — — - 42 174 Miscellaneous Current & Accrued Assets — — - 43 175 Derivative Instrument Assets (175) — — - 44 (Less) Long-Term Portion of Derivative Instrument Assets — — - 45 176 LT Portion of Derivative Assets - Hedges — — - 46 (less) LT Portion of Derivative Assets - Hedges — — - 47 2,376,117 1,627,349 46.01 % 48 49 181 Unamortized Debt Expense — — - 50 182 Regulatory Assets 110,255 — 1 51 183 Preliminary Survey and Investigation Charges

Demand reported in column (h) must be in megawatts., In column (k), provide revenues from demand charges related to the billing demand reported in column (h)., In column (I), provide revenues from energy charges related to the amount of energy transferred., In column (e) report the demand charges and in column (f) energy charges related to the amount of energy transferred., Report in column (h) the total charge shown on bills rendered to the respondent.