Jeff Jenner, CA, CBV

renewable. growth. income.

Chief Executive Officer

Jeff Jenner, CA, CBV

Sprott Power’s Ravenswood, Ontario Project

Jeff Jenner, CA, CBVChief Executive Officer

January 2012TSX: SPZ

2Sprott Power Corp.

Forward-Looking Statements

Certain information contained in this presentation may constitute “forward-looking information” which reflect the current expectations of Sprott Power. This information reflects Sprott Power’s current beliefs with respect to future events and are based oninformation currently available to management. Forward-looking information involves significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking information including, without limitation, the risks listed under the heading “Risk and Uncertainties” in the Management Discussion and Analysis of Financial Results dated March 14, 2011. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information contained in this release. Although forward-looking information contained in this release is based upon what Sprott Power believes to be reasonable assumptions, management cannot assure investors that actual results, performance or achievements will be consistent with this forward-looking information. The forward-looking information is made as of the date of this presentation and Sprott Power does not assume any obligation to update or revise it to reflect new events or circumstances, except as required by law.

3Sprott Power Corp.

Executive Summary

• Sprott Power’s assets:• 46 MW of current operating assets are free cash flowing• Management expects a total of 80 MW operational by Q2 2012• 32 MW are fully financed and under construction, which are expected to

almost double revenue to over $20 million on a run rate basis

• Quarterly Cash Dividend:• Announced on November 7, 2011, an annual $0.04 cash dividend,

payable quarterly beginning January 2012

• Current market valuation:• Approximately 36% less than Shareholder’s Equity*

• Management has purchased almost 1 million shares during the lastseveral months and currently owns 10% of Sprott Power Corp.

* As at November 8, 2011.

4Sprott Power Corp.

$500 billioninvested in the last 5 years

Doublewind capacity by 2015

Requires capital expenditure of

$600 billion4Sprott Power Corp.

Global Wind Energy

5Sprott Power Corp.

Value Curve in Wind Energy

PPA Award Commercial Operation Date

Value inMarket Place

Val

ue (

$ M

illio

n) o

f Win

d E

nerg

y P

er M

W

$0.2

$2.0

$2.5

Development

Construction

Operation

Key Development Milestones

6Sprott Power Corp.

Equity Appreciation Opportunity within Sprott Power

$ M

illio

n P

er M

W

Market Value after Operations Commence

Cost to Construct

Equity invested during Construction

Equity Appreciation after Operations Commence

Debt Finance for Construction

7Sprott Power Corp.

Financial Acumen

Contrarian investment strategy

Access to deal flow

Access to capital

Leading resource asset manager with $10 billion under management

Proven management skill and financial knowledge

8Sprott Power Corp.

Co-founder of Ventus Energy Inc. in 2003, which was sold to GDF SUEZ in 2007 providing initial shareholders with 55% compounded annual return on investment

Senior Vice President and Canadian Country Delegate for GDF SUEZ

Bought E.On/Airtricity development pipeline in 2009

Consolidated 30 companies into Union Energy (West Coast Energy)

Development Expertise: Jeff Jenner, CA, CBV

Chief Executive Officer

West Coast Energy

Ventus Energy

GDF SUEZ

ReD LP

9Sprott Power Corp.

Over twenty four years of engineering, construction and business development experience in the energy sector

Regional Vice President - GDF Suez, Vice President Business Development - Ventus Energy Inc., Project Director - The AES Corporation

Development Expertise: Senior Management

Don Bartlett P.EngCOO

Hugh Campbell P.Eng - VP Technology

More than thirty years engineering experience with ten years in senior renewable energy project development roles

Regional Vice President - GDF Suez, Vice President - Ventus Energy Inc., General Manager – Vestas Canada

Martin Lim CACFO

More than ten years senior corporate experience in the energy industry

Director Strategic Planning - MXenergy Inc., Director Finance - Direct Energy Marketing Ltd., Vice President Finance - AES Energy Services

10Sprott Power Corp.

Former VP Power Generation Development, TransCanada Energy

Founder, Sky Generation

Former trustee, Northland Power

Former Chairman, Ventus Energy

Board of Directors

John Varghese CAChairman

Finn Greflund P.Eng

Glen Estill MBA

F. David Rounthwaite LLB, M.Sc (Econ.)

11Sprott Power Corp.

Building a Platform to Support Growth

Merged with ReD LP to obtain portfolio and management team

May 2010

Agreed to acquire Amherst, Nova Scotia 31.5 MW project

Sept 2010

Merged with First Asset PowerGen Fund to assume Confederation Power operating assets in Nova Scotia

Jan 2011

Listed on the TSX and Acquired Sky Generation Inc. and its Ontario operating assets

Feb 2011

Acquired Alberta development assets

April/Oct 2011

12Sprott Power Corp.

Wind

Hydro

Sprott Power Today

MW46

$8

1 As per unaudited consolidated interim financial statements for the quarter ended September 30, 2011.2 As per Schedule A of the Business Acquisition Report filed on May 6, 2011.

Pro forma income from Operations2

Current operating assets1

Million

13Sprott Power Corp.

Assets in Place to Fuel Growth

• Proven management team delivering projects on-time and on-budget, as well as experience building successful renewable energy companies

• Proven ability to acquire operating assets, contracted development assets and pipelines of additional development opportunities

• 34 MW slated for completion by mid-2012 which is expected to almost double Revenue to over $20 million on a run rate basis

• Further 61 MW contracted and under construction assets is expected to assist in the re-doubling of the operating capacity

• A longer-term pipeline of wind and hydro development projects including ~310 MW of advanced stage development projects

14Sprott Power Corp.

Pipeline Portfolio - Moving Projects Through the Value Curve

Operational, Under Construction MW

Ontario Wind 21.6Nova Scotia Wind 24.1

* Under construction.

Advanced-Stage Development MW

Ontario Wind 3.6Alberta Wind 140.0BC Hydro 18.0Quebec Wind 44.0Nova Scotia Wind 54.0New Brunswick Wind 50.0

61 MW 310 MW

448 MW Total

77 MW

Near-Term Contracted MW

Saskatchewan Wind 10.0Ontario Wind

25.0Nova Scotia Wind

2.3

Nova Scotia Wind 31.5*Quebec Wind 24.0

15Sprott Power Corp.

Awarded a 24 MW, 20-year contract from Hydro Quebec’s competitive tender program (March 4, 2011)

Expected to come online in late 2014

Sprott Power analyzed asset:

• Sold non-competitive portion

• Retained high-resource portion

•Reconfigured layout for competitive RFP tender

• Winning bid against larger competitors

15Sprott Power Corp.

Sprott Power Value EnhancementSt. Philemon, Quebec (a PPA Conversion)

16Sprott Power Corp.

Agreement and financing to complete the Amherst Wind Farm Project (June 13, 2011)

A 25-year PPA with Nova Scotia Power

Equity and Debt financing completed during Q2 & Q3 2011

Project currently under construction and scheduled to begin commercial operations at end of Q1 2012

Expected to nearly double SPC revenue and capacity under management, as well as increase free cash flow

16Sprott Power Corp.

Sprott Power Value EnhancementAmherst*, Nova Scotia (an Acquired Contracted Project)

* Sprott Power has a 51% ownership in the Amherst Project.

17Sprott Power Corp.

Opportunities for Additional Growth

• Seeking to acquire additional wind and hydro assets in North America

• Intend to diversify portfolio of renewable energy sources with attractive biomass and solar energy projects

• Continue to focus on targeting contracted development assets and other operating projects to expand our operations

• Approximately 5,000 MW of new renewable energy projects under construction or under development with signed PPAs and completion dates between 2011 and 2015 currently available in Canada

• Significant assets in the United States that will be constructed and sold after the developers receive the Treasury ITC grant in 2013

18Sprott Power Corp.

Sprott Power Growth Plans

Today

46MW

Mid 2012

80MW

End 2015

500MW

$1B AUM

Mid 2013

155MW

19Sprott Power Corp.

Relative Size of Sprott Power

* With the addition of 34 MW expected by Q2 2012.

Generation Mix Number of FacilitiesSize of Operations

(Gross)Year Achieving

Critical Size

Northland Fund CCG 1 110 1997

Innergex Fund Hydro 7 65 2003

Sprott Power Wind 6 80* Q2 2012

20Sprott Power Corp.

Date Transaction

Operating & Under ConstructionMW

Development MW

Prospective MW

EV ($M)EV/MW($M)Operating

Feb 11, 2011Abitibi/ BluEarth acquisition 131 n/a n/a 640 4.9

Feb 14, 2011Cloudworks/ Innergex acquisition 75 76 800 415 5.5

March 7, 2011Plutonic Power/ Magma Energy merger 168 67 80 466 2.8

October, 2011Western Wind/Offer by Algonquin 165 0 370 407 2.5

September, 2011

Sprott Power 77 61 310 121 1.6

Comparison to Recent Transactions

21Sprott Power Corp.

Comparable Value Proposition

77 MWOperating and Under Construction (gross)

Enterprise Value per MW

Replacement Value

Other Assets/Net Debt

Total Equity Value

Shares Outstanding

$2.5 million

$193 million

($88) million

$105 million

47.9 million

Implied value per share $2.20

22Sprott Power Corp.

2011 Results (Nine months ended September 30, 2011)

$6.2 millionRevenue1

EBITDA2

Loss before income taxes

Working Capital3

$2.1 million

$1.7 million

$11.0 million

1. Had the Company consolidated revenue from its acquired companies from January 1, 2011, revenue for the nine months ended September 30, 2011, would have been $7.3 million.

2. Non-IRFS measure.

3. As at September 30, 2011. Excludes $7.1 million current portion of long term debt that management expects to be refinanced.

23Sprott Power Corp.

Capital Structure

$5.9 millionCash

Shares Outstanding

Market Cap

Total Assets

Total Liabilities

Shareholder’s Equity

47,952,220

$38.8 million

$147.2 million

$85.2 million

$52.2 million

As at September 30, 2011 unless otherwise noted.

24Sprott Power Corp.

Management Compensation

Management fees earned by Sprott Power Consulting are based on Asset performance

On purchased operating assets, fees are 2% of Gross Revenue

On constructed assets, fees are based on combined Yield

• Example, if constructed assets provide an average distributable yield <9%*, nothing is paid to management

* Based on a portfolio of constructed assets, pre tax and levered scenario.

25Sprott Power Corp.

Conclusion

• Sprott Power is striving to become a leader in alternative energy generation and development in North America with a proven management team

• Sprott Power is well-capitalized with cash and income from operating assets

• Sprott Power’s short term goal is to double and then redouble the size of its operating assets from the Company’s contracted pipeline of projects with the resulting growth in Income from Operations

• Sprott Power’s growth and income potential combined with its recognized investment brand is unique

Jeff Jenner, CA, CBV

renewable. growth. income.

Chief Executive Officer

Jeff Jenner, CA, CBV

Sprott Power’s Ravenswood, Ontario Project

Jeff Jenner, CA, CBVChief Executive Officer

January 2012 TSX: SPZ