Brief Corporate Overview

Agenda 1. Who we are 2. Areas of Business 3. Strategic Participations 4. Team Profiles 2

A Specialized Renewables Boutique A specialized Renewables boutique active in EMEA and Americas. Industry pioneers, with over 110 years combined experience, founded this unique company, to grasp the very essence of Renewables. Their values are Innovation, Reliability and Integrity, whereas the Companies motto is Global Expertise with Local Execution. Formerly, founding members and top managers of a leading European Renewables IPP The Team is among the most experienced in this field having worked 10 years as developers, constructors and operators of solar and wind parks in Italy, Germany, Denmark, Spain, Poland, Morocco and Mexico. They have managed over 400 MWp of installed capacity, assessed 3.3 GW of assets Our mission is to bridge the gap between the industry and financial Investors that are keen to enter into this asset class, which can no longer be ignored The Team has successfully closed over 70 transactions in Renewables in the past 7 years, having successfully raised equity and debt finance in excess of 2 billion 3

European Coverage Global Expertise, Local Execution Green Arrow Capital has offices in the UK (London), Italy (Rome and Milan), Spain (Madrid), Poland (Warsaw) and also covers the French market through a Partnership with Greensolver, a specialized Renewables Boutique UNITED KINGDOM POLAND SPAIN ITALY 4

Agenda 1. Who we are 2. Areas of Business Principal Finance Promoter & Investment Specialist Advisory 3. Strategic Participations 4. Team Profiles 5

Areas of Business PRINCIPAL FINANCE PROMOTER & INVESTMENT SPECIALIST ADVISORY 6

Principal Finance Assets We Own Development GAC is currently involved in the development of Utility scale solar plants in Poland, Morocco, Chile and Mexico and Grid parity projects in Italy and Spain In particular, GAC is active in emerging Solar PV markets which are embracing Renewables to quickly close the gap between increase in energy consumption and lack of local production capacity. This is a strategic move for those countries where the lack of energy made the development of the local economy difficult Proprietary Renewable Energy Assets Minibonds are a regulated financial instrument listed on the ExtraMot Pro segment of the Italian Stock Exchange (LSE Group) In May 2014, GAC bought GA11, which owns and operates a 1 MWp Solar PV plant, and financed the entire acquisition by issuing the first Italian green Minibond denominated Green Bond 1 5% 2014-2019, with ISIN n. IT0005020711, of Euro 3.2 Million 7

Principal Finance Assets We Own Development Strategy: GAC is currently involved in the development of Utility scale solar and wind farms in Poland, Morocco, Chile and Mexico and Grid parity projects in Italy and Spain 8

Principal Finance Assets We Own Proprietary Renewable Energy assets: Hard Asset backed Bond with Stable Revenues A safe, ethical, long-dated investment with stable interest payments per annum Investment is the underwriting of a regulated and listed bond backed by cash-flows from operating Solar PV plants or Renewable Energy assets Similar to a covered bond, revenues are backed by long term contracts with a government agency for renewable energy 100% operating plants, eliminating all construction and connectivity risk Bond holders receive stable Interest and Principal payments every year (no back-ended cash flows) Asset Cash Flow Distribution Profile GA11 Investment terms & characteristics 5% interest rate Euro 000 Payments every 6 months 5 year amortization Source: Green Arrow Capital * Listed on Italian Stock Exchange (ExtraMOT) 9

Promoter & Investment Specialist Clean Energy Funds Green Arrow Capital has strategically decided to become an Asset Management Company specialized in launching and managing Renewable Energy Funds In order to pursue this scope, GAC has chosen a flexible and economically savvy approach by initially renting a compartment of a Luxembourg SICAV-SIF managed by an FCA regulated firm GAC is the Promoter and Investment Specialist of the Fund, denominated Radiant Clean Energy Fund and offers investors a unique opportunity to invest in existing infrastructure under the form of operating Solar PV plants in Europe Radiant is the first of a family of tailor-made investment funds that GAC is looking to provide to Institutional Investors across the World, who s appetite for Hard Asset backed investments is increasing very rapidly With Radiant s success, which has already invested 5m and has soft commitments for further 60m from some of Italy s largest Institutional s, Green Arrow Capital will look to become a regulated Management Company with proprietary Funds 10

Advisory Clients We Serve The Team, Advisory Board and Partners have longstanding experience in the various renewable energy subsectors, having advised, developed, structured, acquired, financed, built, operated, managed and sold renewable projects in several European countries, with a cumulated experience of over 100 years. Services offered across all Renewable sources include: Strategic Asset Allocation Deal Structuring & Sourcing Sell-side & Buy-side Mandates Dynamic Portfolio Management Specialist Technical Support GA is a member of the Equity Markets selected by Borsa Italiana (London Stock Exchange Group) and has successfully structured the financing for the first Italian green Minibond denominated Green Bond 1 5% 2014-2019, with ISIN n. IT0005020711 Green Advisory has received mandates from Primary Institutional Investors, such as Pirelli, Sumitomo Corp, Starwood and SunEdison 11

Strategic Participations Green Arrow Capital is one of the founders of Solar Dealing, the first Italian Marketplace dedicated to Renewable Energy Assets. The other co-founders are Kenergia, one of the leading O&M service providers in Italy, and Althesis, the leading Strategic Energy Consulting firm in Italy Solar Dealing is an Origination platform that allows the progressive standardization of qualified opportunities, by giving support and strict guidelines in the selection process of the Assets to put on Sale. Whereas, the Buyers have a suite of tools and user friendly filtering criteria to facilitate both the research, comparison and analysis of potential targetable Assets, such as: Technical Due Diligence Solar Energy Assessment Contractual Arrangements (e.g. EPC contracts, O&M contracts, SPAs, PPAs, turbine and solar modules supply, development frameworks) Debt Financing (corporate, project financing, leasing) 13

Management Team Name Relevant Experience Years experience Samir Sayeed Stefano Russo Eugenio de Blasio Daniele Camponeschi Alessandro Di Michele Chairman of Green Arrow Capital. Mr. Sayeed was in Senior Management at JP Morgan, Citi and Kuwait Investment Authority, across Europe, Middle East and Asia Partner and Chairman of the Investment Committee. Former CEO of Renaissance Institutional Management. Managing Director for Europe and Middle East of Morgan Stanley Investment Management. Mr. Russo sits on the Board of Directors of Kairos Partners, Fabrica Immobiliare, and Clessidra Capital Partners. He also devotes time to Graduate Education as a member of the Executive Board of New York University Founder and Managing Partner of Green Arrow Capital. Board Member of Assorinnovabili. Former Co-Founder, Deputy CEO of Greentech Energy Systems A/S listed on Nasdaq OMX, CEO of GWM Renewable Energy SpA (participated by Intesa SanPaolo and Pirelli) Founder & Partner of Green Arrow Capital. Board Member of Polish Solar. Former co-founder and Chief Investment Officer of Greentech Energy Systems and Managing Director of GWM Renewable Energy Spain. Former Deputy Managing Director of Mediterranean Development Merchant Bank Partner & CFO of Green Arrow Capital. Mr. Di Michele was Executive Director with the London Stock Exchange Group, CFO and Board member of all the Italian subsidiaries. Recently he has been Chairman of GlobeSettle 25 35 20 16 20 15

Advisory Board Name Relevant Experience Years experience Giovanmatteo Lucifero Alexis de Dietrich Stefano Sagripanti Francesco Maria Giovannini Christian Pelanconi Vice President of Polish Solar Ltd. Founder of Lucifero & Partners and Senior Partner at TFT Real Estate- specialized in renewable energy and real estate investments. Owner of Poggi Alti Resort, he also represents main investors in Italian PV market. Previously Senior Manager of large investment companies and governmental institutions (Sviluppo Italia). Mr de Dietrich currently manages a family office in London; prior to this he was with Palamon Capital Partners, a private equity fund focused on the European mid-market. He previously worked in Investment Banking with Merrill Lynch and Société Générale Former associate partner of KPMG Advisory. Mr Sagripanti is specialized in Risk Management for Institutional Investors. His main focus was Financial and Operational risk management. Developing a wide range of risk governance frameworks and related risk measurement models for financial institutions, insurance and wealth management companies Mr. Giovannini is a professional investor leading his family Investment Holding. Founded the start-up of a Joint-Venture, participated by a Swiss-Indian Merchant Bank and an Italian Private Equity firm. Member of various BoD and International Forums Executive Director EMEA and Latin America, SunGard. Mr Pelanconi has worked in the technology space since 1999 and has a keen personal interest in renewables. In SunGard, one of the world s leading software and technology services companies with revenues of $4.1bn, he is responsible for emerging markets in Middle East, Africa and Latin America. Mr Pelanconi was part of the management team that privatized SunGard in August 2005, an $11.5bn transaction involving 7 major private equity companies 20 20 20 15 25 16

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