#1Ⓒ2023 Altus Power, Inc. All rights reserved. Jugos Xx S KA ROMA 4431 THE 155 LANE 144 +++ LEVELS +++ January 2024 1 20 Jede 4 THT 55000 +++ F 2016 H FF TE www cameras MRNZ CUPLET See 1 wwwww ZO PANERIA Se T 224 2 A MIG www word MANA Kom KY Whisa 2 www. S esa www K B T B B PE 415 SAS MANISH 1 SE3 Presentation Investor KA 21 2 L 74 THECAS 750MER TUN 534544 T P 22 2 5215 Haz ww 2 SADA 1 are MAC SET TILL S 4 F 24 13 nenen ww JYDSE were 101 444 1362 = 1747 F SHANG 30 LMC RESTOR 40 B www ererere ✓ MOD 12 SINGIS 77679 re 11 2xX75421 - 25 SEPT LL CC OF LEGE OBE DEBO ACEPE BERE Becom 12RKRAN 2 601133 fuff ROSARY L BUL CH 471X 41 7744 SETT 4XX 660 WEG were 455 55 FREE BRE SARA 2 Dal 655 SHEE B NG TEXXXOA REN ne DOCK ASKE UAAANG P 33 - Se H BLOUS 25 SAN 27 penemen 512 Then 250G SNIC 13 666 FREE 2 ww 16 S 14100 § RENEWABLE ENERGY FE ALTUSPOWER#2Cautionary Statements And Risk Factors That May Affect Future Results ALTUSPOWER RENEWABLE ENERGY The following presentation for Altus Power, Inc. ("Altus Power" or the "Company") has been prepared by Altus Power's management. You should read the presentation together with our consolidated financial statements and related notes appearing in our 2022 Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 30, 2023 (the "2022 Annual Report on Form 10-K"). Any references in this section to "we," "our" or "us" shall mean Altus Power. In addition to historical information, this presentation contains statements that are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicted or potential future events and financial results, such as statements of our plans, strategies and intentions, or our future performance or goals that are based upon management's current expectations. Our forward-looking statements can often be identified by the use of forward-looking terminology such as "aims," "believes," "expects," "intends," "may," "could," "will," "should," "plans," "projects," "forecasts," "seeks," "anticipates," "goal," "objective," "target," "estimate," "future," "outlook," "strategy," "vision," or variations of such words or similar terminology. Investors and prospective investors are cautioned that such forward-looking statements are only projections based on current estimations. These statements involve risks and uncertainties and are based upon various assumptions. Such risks and uncertainties include, but are not limited to, the risks as described in the "Risk Factors" in our 2022 Annual Report on Form 10-K These risks and uncertainties, among others, could cause our actual future results to differ materially from those described in our forward-looking statements or from our prior results. Any forward-looking statement made by us in this presentation is based only on information currently available to us and speaks to circumstances only as of the date on which it is made. We are not obligated to update these forward-looking statements, even though our situation may change in the future. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Altus Power's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) failure to obtain required consents or regulatory approvals in a timely manner or otherwise; (2) the ability of Altus Power to retain customers and maintain and expand relationships with business partners, suppliers and customers; (3) the ability of Altus Power to successfully integrate the acquisition of solar assets into its business and generate profit from their operations; (4) the risk that pending acquisitions may not close in the anticipated timeframe or at all due to a closing condition not being met (5) the risk of litigation and/or regulatory actions related to the proposed acquisition of solar assets; and (6) the possibility that Altus Power may be adversely affected by other economic, business, regulatory, credit risk and/or competitive factors. The presentation includes financial information not prepared in accordance with generally accepted accounting principles ("Non-GAAP Financial Measures"). A reconciliation of the Non-GAAP Financial Measures to financial information prepared in accordance with generally accepted accounting principles ("GAAP"), as required by Regulation G, appears in the presentation. The Company is providing disclosure of the reconciliation of reported Non-GAAP Financial Measures used in the presentation, among other places, to its comparable financial measures on a GAAP basis. The Company believes that the Non-GAAP Financial Measures provide investors additional ways to view our operations, when considered with both our GAAP results and the reconciliation to net income and net cash provided by operating activities, which we believe provide a more complete understanding of our business than could be obtained absent this disclosure. We believe the Non-GAAP Financial Measures also provide investors a useful tool to assess shareholder value. All rights to the trademarks, copyrights, logos and other intellectual property in this presentation belong to their respective owners and Altus Power's use thereof does not imply an affiliation with, or endorsement by the owners or such trademarks, copyrights, logos or other intellectual property. The information contained in the presentation is summary information that is intended to be considered in the context of the Company's SEC filings and other public announcements that the Company may make, by press release or otherwise, from time to time. The Company undertakes no duty or obligation to publicly update or revise the information contained in this report, although it may do so from time to time as its management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure. This presentation is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Altus Power and is not intended to form the basis of an investment decision in Altus Power. All subsequent written and oral forward-looking statements concerning Altus Power or other matters and attributable to Altus Power or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. 2#3Altus Power Generates and Delivers Clean Electric Power Buildings are at the center of Commercial Solar + Community Solar COMMUNITY SOLAR Thi H ALTUSPOWER RENEWABLE ENERGY 3#4Commercial Solar Combines Low-Cost Build with Retail Priced Clean Electric Power Commercial Scale Retail Rate Wholesale/ Merchant 20c 15c 10c 5c Ос Value of Power Utility Scale $ ALTUSPOWER UNIT ECONOMICS Cost to Build Retail Electric Rates vs. Cost of Wholesale Energy¹ 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 Year ¹ EIA Data on US commercial electricity rates. Wholesale Energy Price represents Henry Hub natural gas as a proxy. $10.00 $8.00 $6.00 $4.00 $2.00 $0.00 Retail Electric Rate (c/kwh) - Altus Basket Wholesale Energy Price ($/mmbtu) Residential Solar Maryland Indiana Illinois Electric Electric Electric Massachusetts Electric Electric New Mexico Vermont Electric ALTUSPOWER $$$ Recently Approved Rate Increases Around the US (% change in base electric rates) RENEWABLE ENERGY 20.9% 17.1% 11.0% 7.1% 7.0% 5.3% +#5Altus Power is the Leader in a Rapidly Growing Market Altus Power Solar & Storage Assets CBRE Real Estate Partners Investment Management Altus Power is the Largest Owner of Commercial Solar in the U.S.¹ T TRANSWESTERNⓇ INVESTMENT GROUP Trammell Crow Company Inland Real Estate Investment Corporation LINK e EDENS. S HIGH STREET LOGISTICS PROPERTIES I TIE 1 Total Commercial Solar Ownership Rankings "US PV Leaderboard" by Wood Mackenzie as of June 8th, 2023 2 Includes Portfolio as of September 30, 2023, closing of 121 MW Basalt acquisition and planned completions 3 As of September 30, 2023 ~900MWs Across 25 States² 75MWs New Development Expected in 2023 US. FOODS Spectrum u UMASS BOSTON Morgan Stanley Mercedes-Benz 450+ Enterprise Power Customers ESPA Enterprise Customers³ 20,000+ Community Solar Customers Stop&Shop* Thermo Fisher SCIENTIFIC MAYO CLINIC Shop Rite IRON MOUNTAIN AIR FORCE ALTUSPOWER RENEWABLE ENERGY BJ's a Hilton HOTELS & RESORTS BOSE 5#6A Sizable Addressable Market With Powerful Drivers For Growth A Significant Total Addressable Market ("TAM") Measured in Annual Revenue Potential Commercial Solar Potential Annual Revenue of $52 Billion ectrification of Everythir Capital Partners Real Estate Partners Customer-Driven Carbon Emission Redu Profitable tion Against Failing Grid Market Leader Full-Service Platform Balance Sheet Power Demand Growing $46B POTENTIAL TO INSTALL CAPACITY TO MULTIPLY BY 9X $5B 2 CURRENTLY INSTALLED ALTUSPOWER 1 Product of ~205,000 MWs available space on US Rooftops, Wood Mackenzie "Total Addressable Market" report (August 2020), 1.25 average production factor, 18c/kwh average all-in value of clean electric power 2 Product of ~24,000 MWs of US Non-Residential Capacity through Q3 2023, Wood Mackenzie, 1.25 average production factor, 18c/kwh estimated average RENEWABLE ENERGY SO#7Rapidly Growing Asset Base Supported by Substantial Pipeline CBRE 378 MW Q3 '22 Over 1 Gigawatt of Pipeline of Customer Engagements¹ Blackstone 470 MW Q4 '22 Existing Customers 175 MWs 140 MWs 679 MW 698 MW ¹ As of September 30, 2023, including Basalt & Soltage acquisition closed December 2023 2721MWs as of September 30, 2023, plus 121 MW from Basalt & Soltage acquisition closed in December 2023 Channel Partners Cumulative Operating Assets Q1 '23 Q2 '23 721 MW Q3 '23 Acquisitions 3 MWs 0 MWs 842 MW² 121 MWs Basalt & Soltage Addition ALTUSPOWER RENEWABLE ENERGY In Contract/ In Negotiation In Construction / In Closing#8Track Record of Significant Growth and Cash Generation $37 Operating Revenues ($MM) 41% CAGR $45 $72 Adjusted EBITDA ($MM)¹ Cash from Operations ($MM)² $22 2019 2020 2021 2022 TTM $101 $5 $148 $26 $22 $12 Adjusted EBITDA ($MM)¹ 43% CAGR $26 $41 2019 2020 2021 Focus on Cash Generation $41 $59 $24 2022 $92 TTM $59 146 2019 $35 58% CAGR 240 Portfolio Size (MW) 2020 2019 2020 2021 2022 1 Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. Please see Financial Statements in the Appendix for a reconciliation to the most directly comparable GAAP measures. 2 "Net cash provided by operating activities" as shown in the company's "Consolidated Statement of Cash Flows" in SEC filings 3 Includes Portfolio as of September 30, 2023, closing of 121 MW Basalt acquisition and planned completions 362 2021 $92 ALTUSPOWER RENEWABLE ENERGY 470 $59 2022 TTM 3 -900³ 2023E 8#9Long Term & Fixed Rate Debt - Overcollateralized by Long Term Power Contracts Modest Leverage vs Value of Contracted Cashflows I I I I I I I I I Remaining Value ($) 750,000 500,000 250,000 0 40% 2023 Blackstone Long Term Funding Facility Illustrative Contract Cash Flows vs. Debt Balance¹ 41% 2028 DCF of Contracted Cash Flows (PV6) 48% 2033 Debt Balance 65% 2038 Overcollateralization (%) 89% 2043 100% 100% 1 This funding example is for illustrative purposes only and should not be relied upon as being necessarily indicative of funding for all of our operating assets 2 Weighted Average as of September 2023 for APAF I-III facilities 3 Tax Equity Available for development assets 50% 0% • Collateralized by long term contracts • Investment Grade Ratings (A-/BBB) key for Life Insurance Facility Participants • No set capacity - can expand to accommodate portfolio additions • Fixed Interest Rate: Weighted Average of 4.35%² • 25 Year Term Funding Sources 60-70% of Asset Cost ALTUSPOWER BX Long Term Funding Facility Tax Equity³ RENEWABLE ENERGY 30% of Asset Cost Cash 0-10% of Asset Cost No Common Equity Issuance Expected for 2024 Growth Plan#10Market-Leading Access to Capital in a Challenging Environment ● Corporate Term Loan Private Placement funded by Goldman Sachs and CPP Investments $100 MM Principal Loan Amount with 8.5% Fixed Interest Rate ● ● Capital Access of a Larger Enterprise - a Competitive Advantage ● ADDITIONAL LONG TERM FUNDING Blackstone Construction Facility Up to $200 MM available Capital sourced from similar Insurance Partners backing Long Term funding facility Available for Equipment, Labor, Interconnection and Development Costs ● Six Year Term with Altus Call Option after Year Three Marks Goldman Sachs' Second Investment in Altus Power (first in 2016) SHORT-TERM FINANCING Revolving Credit Facility • Up to $200 MM available • Citibank, Bank of America, JP Morgan Chase, Keybank and Truist underwriters Available for general corporate purposes Goldman Sachs ALTUSPOWER RENEWABLE ENERGY CPP Investments Large National Insurance Companies citi J.P.Morgan BANK OF AMERICA KeyBank T TRUIST HH 10#11Growing Digital Platform Serves to Increase Customer Attraction & Retention TO U Stamford Office 0 Property Performance Last Updated: Oct 1, 2023 Generation and Usage Dashboard & Properties D Eh Property Type Office 1900 egy and no equivalent Grid Electricity Usage Carbon Benefits Wing The Planet to 227M Smartphones charged Building Saw 33,006 sq ft 76K Propane cylinders for home barbeques hest propane vplonda je to provides Carbon Footprint Over Time 234 Homes electricity use per year et hom tidy Carbon Data Solar Production Gross Carbon il consumption ⠀ 1,90 Customer-First Digital Presence Enhances Our Value Proposition ALTUSIQ 3,79 S From Oct 30, 2022 to Oct 30, 2023 Savings $ 155,702.54 Net Savings Cost with solar production: $ 622,810.39 Cost without solar production: 778,512.93 25k Solar Savings 201 10k B Solar Savings Over Time Grid Electricity Usage roperties 150K 2 Oct 100k ance From: Sep 29, 2023 to Oct 31, 2023 50k Sensor Data 0 Altus IQ Sensor m Oct 22 ● Actual est Nov 22 9 Oct ●Expected Coat Feb 23 16 Oct Apr 23 9:41 AA A Hello Jane Doe! O Altus Power App altuspower.com Kapolei Community Solar We're thrilled to have you join our local Hawaii Community Solar program! Overview Sample bill breakdown Utility Bill Altus Bill Example Utility Bill Total ■ $100.00 JD 9:41 AA Estimated Annual Savings altuspower.com Application Overview Sign-up Fee Estimated Monthly Savings Ⓒ Jane Community Solar Application Account Info Already started? Login Smith ALTUSPOWER RENEWABLE ENERGY Hawaii Community Solar Powered by Altus Power 10% Monthly Savings C $672 $00.00 $35.25 0 11#12Current Holders & Analyst Coverage Management Alignment with Altus Power Stakeholders¹ 46% Float 1 Holdings as of 12/31/23 2 Represents direct ownership stakes 26% Management & Board² 15% CBRE 13% Blackstone 10% 0% -10% -20% -30% citi EVERCORE ISI BRILEY Financial Analyst Coverage 4.8% AMPS J.P.Morgan TROTH MKM NORTHLAND CAPITAL MARKETS 2023 Relative Stock Performance ICLN -20.4% ALTUSPOWER RENEWABLE ENERGY Morgan Stanley UBS ΤΑΝ -26.8% 12#13A ALTUSPOWER RENEWABLE ENERGY Appendix 13#14Sustainability and Good Governance a Core Focus ● ALTUSPOWER ● RENEWABLE ENERGY MAKING POWER, MAKING PROGRESS 2022 Recognized by Third Party Agencies: Rated by MSCI, ISS and Sustainalytics Member of Clean Energy Exchange-Traded Funds (ETFs), including ICLN, QCLN and TAN Index 2022 SUSTAINABILITY REPORT 2023 ALTUS POWER, INC. Statistics above as of December 31, 2022 and as shown in 2022 Sustainability Report Overall Employee Gender 32% Female Overall Employee Diversity 23% Non-White 43% Female ALTUSPOWER Executive Management Composition RENEWABLE ENERGY 38% Female Board of Directors Composition 14#15Nine-Month Financials ALTUSPOWER 9M 2023 Operating Revenues $121 Million 9M 2023 Net Income $14 Million 9M 2023 Adjusted EBITDA¹ $75.7 Million 9M 2023 Adjusted EBITDA Margin¹ 63 Percent 9M 2023 Cash Flow from Operating Activities $49.1 Million ¹ Adjusted EBITDA is a non-GAAP financial measure Please see the Appendix for a reconciliation to the most directly comparable GAAP measure 15#16Non-GAAP Reconciliation ALTUSPOWER Adjusted EBITDA¹ Reconciliation of Net income (loss) to Adjusted EBITDA: Net income (loss) Income tax (benefit) expense Interest expense, net Depreciation, amortization and accretion expense Stock-based compensation expense Acquisition and entity formation costs Gain (loss) on fair value of contingent consideration (Gain) loss on disposal of property, plant and equipment Change in fair value of redeemable warrant liability Change in fair value of alignment shares liability Other (expense) income, net Adjusted EBITDA Adjusted EBITDA Margin¹ Reconciliation of Adjusted EBITDA margin: Adjusted EBITDA Operating revenues, net Adjusted EBITDA % $ $ 2023 $ Three Months Ended September 30, 1 Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures (in thousands) 6,776 (1,940) 9,180 13,719 4,176 268 50 (3,508) 339 29,060 2023 Three Months Ended September 30, (in thousands) 29,060 45,079 64% $ $ 2022 es es $ (96,628) 1,964 5,657 7,134 2,708 237 825 (2,222) 29,564 72,418 (2,267) $ 19,390 2022 19,390 30,438 64% $ $ Nine Months Ended September 30, 2023 (in thousands) 13,991 77 30,150 38,054 11,304 3,128 150 649 (23,331) 1,569 $ 75,741 2023 Nine Months Ended September 30, (in thousands) 75,741 120,970 63% 2022 $ $ $ (14,919) 2,548 15,768 20,819 6,670 583 (146) (2,222) 6,447 9,367 (2,860) $ 42,055 2022 42,055 74,399 57 % 16#17Non-GAAP Definitions ALTUSPOWER RENEWABLE ENERGY Adjusted EBITDA is a non-GAAP financial measure and is defined as net income (loss) plus net interest expense, depreciation, amortization and accretion expense, income tax expense, acquisition and entity formation costs, stock-based compensation expense, and excluding the effect of certain non-recurring items we do not consider to be indicative of our ongoing operating performance such as, but not limited to, gain on fair value remeasurement of contingent consideration, gain on disposal of property, plant and equipment, change in fair value of redeemable warrant liability, change in fair value of alignment shares, loss on extinguishment of debt, and other miscellaneous items of other income and expenses. Adjusted EBITDA margin is a non-GAAP financial measure and is defined as Adjusted EBITDA divided by operating revenues. Adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures that we use to measure out performance. We believe that investors and analysts also use adjusted EBITDA in evaluating our operating performance. This measurement is not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. The GAAP measure most directly comparable to adjusted EBITDA is net income and to adjusted EBITDA margin is net income over operating revenues. The presentation of adjusted EBITDA and adjusted EBITDA margin should not be construed to suggest that our future results will be unaffected by non-cash or non-recurring items. In addition, our calculation of adjusted EBITDA and adjusted EBITDA margin are not necessarily comparable to adjusted EBITDA as calculated by other companies and investors and analysts should read carefully the components of our calculations of these non-GAAP financial measures. We believe adjusted EBITDA is useful to management, investors and analysts in providing a measure of core financial performance adjusted to allow for comparisons of results of operations across reporting periods on a consistent basis. These adjustments are intended to exclude items that are not indicative of the ongoing operating performance of the business. Adjusted EBITDA is also used by our management for internal planning purposes, including our consolidated operating budget, and by our board of directors in setting performance-based compensation targets. Adjusted EBITDA should not be considered an alternative to but viewed in conjunction with GAAP results, as we believe it provides a more complete understanding of ongoing business performance and trends than GAAP measures alone. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. Altus Power does not provide GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty and without unreasonable effort, items such as acquisition and entity formation costs, gain on fair value remeasurement of contingent consideration, change in fair value of redeemable warrant liability, change in fair value of alignment shares. These items are uncertain, depend on various factors, and could be material to Altus Power's results computed in accordance with GAAP. 17#18Adjusted EBITDA Definitions ALTUSPOWER RENEWABLE ENERGY Adjusted EBITDA and Adjusted EBITDA Margin We define adjusted EBITDA as net income plus net interest expense, depreciation, amortization and accretion expense, income tax expense, acquisition and entity formation costs, stock-based compensation expense, and excluding the effect of certain non-recurring items we do not consider to be indicative of our ongoing operating performance such as, but not limited to, gain or loss on fair value remeasurement of contingent consideration, change in fair value of redeemable warrant liability, change in fair value of Alignment Shares liability, loss on extinguishment of debt, and other miscellaneous items of other income and expenses. See "Components of Results of Operations" below for a description of each of these items. Interest Expense, Net. Interest expense, net represents interest on our borrowings under our various debt facilities, amortization of debt discounts and deferred financing costs, and unrealized gains and losses on interest rate swaps. Depreciation, Amortization and Accretion Expense. Depreciation expense represents depreciation on solar energy systems that have been placed in service. Depreciation expense is computed using the straight-line composite method over the estimated useful lives of assets. Leasehold improvements are depreciated over the shorter of the estimated useful lives or the remaining term of the lease. Amortization includes third party costs necessary to enter into site lease agreements, third party costs necessary to acquire PPA and NMCA customers and favorable and unfavorable rate revenues contracts. Third party costs necessary to enter into site lease agreements are amortized using the straight-line method ratably over 15-30 years based upon the term of the individual site leases. Third party costs necessary to acquire PPAS and NMCA customers are amortized using the straight-line method ratably over 15-25 years based upon the term of the customer contract. Estimated fair value allocated to the favorable and unfavorable rate PPAS and REC agreements are amortized using the straight-line method over the remaining non-cancelable terms of the respective agreements. Accretion expense includes over time increase of asset retirement obligations associated with solar energy facilities. Income Tax (Expense) Benefit. We account for income taxes under ASC 740, Income Taxes. As such, we determine deferred tax assets and liabilities based on temporary differences resulting from the different treatment of items for tax and financial reporting purposes. We measure deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse. Additionally, we must assess the likelihood that deferred tax assets will be recovered as deductions from future taxable income. We have a partial valuation allowance on our deferred state tax assets because we believe it is more likely than not that a portion of our deferred state tax assets will not be realized. We evaluate the recoverability of our deferred tax assets on a quarterly basis. Acquisition and Entity Formation Costs. Acquisition and entity formation costs represent costs incurred to acquire businesses and form new legal entities. Such costs primarily consist of professional fees for banking, legal, accounting and appraisal services. Stock-Based Compensation Expense. Stock-based compensation expense is recognized for awards granted under the Legacy Incentive Plans and Omnibus Incentive Plan, as defined in 2022 Annual Report on Form 10K, Note 20, "Stock-Based Compensation," to our consolidated financial statements included elsewhere in this Report. Fair Value Remeasurement of Contingent Consideration. In connection with the Solar Acquisition (as defined in 2022 Annual Report on Form 10K, Note 11, "Fair Value Measurements," to our consolidated financial statements included elsewhere in this Report), contingent consideration of up to an aggregate of $3.1 million may be payable upon achieving certain market power rates by the acquired solar energy facilities. The Company estimated the fair value of the contingent consideration for future earnout payments using a Monte Carlo simulation model. Significant assumptions used in the measurement include market power rates during the 36-month period, and the risk-adjusted discount rate associated with the business. Change in Fair Value of Redeemable Warrant Liability. In connection with the Merger, the Company assumed a redeemable warrant liability composed of publicly listed warrants (the "Redeemable Warrants") and warrants issued to CBRE Acquisition Sponsor, LLC in the private placement (the "Private Placement Warrants"). Redeemable Warrant Liability was remeasured through the Redemption Date, and the resulting loss was included in the consolidated statements of operations. Change in Fair Value of Alignment Shares. Alignment Shares represent Class B common stock of the Company which were issued in connection with the Merger. Class B common stock, par value $0.0001 per share ("Alignment Shares") are accounted for as liability-classified derivatives, which were remeasured as of December 31, 2022, and the resulting gain was included in the consolidated statements of operations. The Company estimates the fair value of outstanding Alignment Shares using a Monte Carlo simulation valuation model utilizing a distribution of potential outcomes based on a set of underlying assumptions such as stock price, volatility, and risk-free interest rates. Other (Income) Expense, Net. Other income and expenses primarily represent interest income, state grants, and other miscellaneous items. 18#19A W: P: ALTUSPOWER RENEWABLE ENERGY contact info altuspower.com (203) 698-0090