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Ross McDonald, President Clean West Capital IncTel +1 604 998 8319 5658 Westhaven RoadFax +1 604 630 7064 West VancouverWeb www.cleanwest.com BC V7W 1T8Email rmcdonald@cleanwest.com Canada

Investor Documentation

Brief introduction

DEAL DOCUMENTSEntrepreneur Guide

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A brief document whose objectives are to solicit initial feedback and qualify interest level on a corporatetransaction from prospective counterparties. Brevity enables selective disclosure of potentiallyconfidential information. Between one and eight pages length, depending on advisor preference.

TYPICAL CONTENTS

Overview: Snapshot of business, transaction Industry / Market: Size, profile, target, trendsUnique aspects: Key competitive advantagesMetrics: High level revenues, profits, otherNext steps: Transaction size, status, timeline

TEASER

Teaser attract often valuable feedback. Poor documentation can kill a transaction.

CLEAN WEST APPROACH

Length: Ideally one, max two pages length Crisp: Explain value proposition precisely First Impressions: Reinforces professionalismGraphics: Evidence data, convey complexities Timing: Prepare teaser after CIM fully drafted

Teasers are a Written Elevator Pitch

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But Avoid Jargon Where Possible

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A document whose objective is to provide information that enables a potential counterparty (investor,acquirer) to readily understand and thoroughly assess a company and its proposed transaction.Typically between ten and thirty pages length, depending on the size and complexity of the transaction.

TYPICAL CONTENTS

Exec. Summary: Key messages, ConclusionBusiness: Value Proposition, benefits, IP Industry / Market: Size, profile, target, trendsFinancials: Historic, forecast. P&L, cash, BS

Appendix: Educational or evidence materials

CONFIDENTIAL INFORMATION MEMORANDUM

Strong CIMs require time to prepare, but they attract and educate counterparties.

CLEAN WEST APPROACH

Exec. Summary: Vital one-two page overview KISS: Simple language, non-jargon terms First Impressions: Reinforces professionalismGraphics: Evidence data, convey complexities Structure: Intuitive, reader-focused layout

CIMs Describe, Evidence a Business

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But Crisply Explain Plan A. Not B, C

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A Microsoft Excel workbook whose whose objective is to systematically forecast the financial and keyoperational metrics of a business, based on a series of data inputs and logical assumptions.Financial models vary significant in terms of complexity, purpose and usefulness.

TYPICAL CONTENTS

Outputs: Tables for CIM, other documentsFinancials: P&L, cashflow, balance sheetInputs: Operational, financial assumptions

Workings : Logical formula for keyprocessesTimeline: Monthly, five years (longer for debt deals)

FINANCIAL MODELING

Strong models assist business decisions, highlight key variables and their impact.

CLEAN WEST APPROACH

Structured: Multiple, discrete worksheets Intuitive: Layout nests, prioritizes contentScenarios: Able to flex key data assumptionsFormula-driven: Minimal manual cell inputsGraphics: Useful to illustrate key outputs

Models Detail & Sensitize Financials

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But Beware Spurious Accuracy

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A deck of presentational material whose objectives are to express transaction rationale and to educatecounterparties on key business, market, operational, financial, technical or other relevant issues.Length depends on event purpose, duration and environment (size of audience, presence of presenter).

POSSIBLE APPROACHES

Ballroom : Overhead projected to audience,Wow purpose, low content, presenter is star

Boardroom : Printed for meeting attendees,Decisive purpose, high content, slides are star

Bullet lists : Lazy, dull and ineffective. Avoid.

PRESENTATIONS

Optimal presentation design depends on the environment of delivery and purpose.

CLEAN WEST APPROACH

Purpose: Be clear on purpose, environment Concise: Explain crisply, omit irrelevanceGraphics: Fantastic visual aids or evidence Bullets: None allowed outside Exec. Overview

Appendices: Valuable FAQ, issue education

Investor Presentations Pitch & Inform

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But Investors Seek Credible Evidence

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PREPARE, REVIEWDOCUMENTATION

! First impressions count, and reinforce professionalism of developer! Crisp, professional documents inform and educate counterparties

(Information Memorandum, Financial model, Investor presentation, Teaser)

Clean West offers mid-market corporate finance skills to clean energy developers.

STRUCTURE, CLOSE

TRANSACTION

ADVISE, INTRODUCEFINANCE PARTNERS

CLEAN WEST SERVICES: PREPARE, MARKET & CLOSE

! Define preferred, appropriate profile of financial partner(s). Shortlist.! Prioritized, phased introduction to relevant institutional investors

(Clean West has extensive network of

clean financial investors, strategic partners)

! Educate, stimulate counterparties. Assess, compare term sheets.!

Liaise with legal counsel, investor towards transaction closure.

Documentation Reflects on the Team

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M&A ADVISORY Acquisitions ValuationsDivestitures

Strategic advisory and transaction execution drivenby client circumstances and value opportunities.

Independent, expert valuations for director comfort.

GROWTH CAPITAL Project Early stageExpansion

Professional document preparation, effectiveinvestor marketing and painless transaction closure.

First impressions count. Connections close deals.

Within a young, vibrant clean

industry then Clean West strives to stimulateentrepreneurs, enable commercial growth and play a role in tackling climate change.

CLEAN TECHNOLOGY IP driven ventures

CLEAN ENERGY Clean power projects

MID-MARKET FOCUS Familiar with growth businesses

GLOBAL MINDSET International network

Ross McDonald, President Clean West Capital IncTel +1 604 998 8319 6639 Nelson AvenueFax +1 604 630 7064 West VancouverWeb www.cleanwest.com BC V7W 2A5Email rmcdonald@cleanwest.com Canada

Clean Focused, Corporate Financier