#1solar alliance INVESTOR PRESENTATION MAY 2023 TSX-V: SOLR#2Disclaimer and forward-looking statement Statements in this presentation, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. The words “would”, “will”, "expected" and "estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements. "Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." TSX-V: SOLR Solar Alliance | 2#3Solar Alliance Solar Alliance is an energy solutions provider focused on high-return commercial, utility-scale and community- based solar installations. Our experienced team reduces our customers' electricity costs by providing environmentally- friendly and affordable turnkey clean energy solutions. We employ a unique, hybrid business strategy custom-built for the rapidly evolving solar industry: Commercial Solar Design and Installation. Solar system design, engineering and construction for businesses and utilities. Community Solar Ownership. Owner of operating assets that generate long-term recurring revenue through long-term Purchase Power Agreements (PPAs). This hybrid business model supports sustained growth across the solar project value chain, with technical and operational synergies across design, engineering, installation, ownership and operations/maintenance. TSX-V: SOLR Solar Alliance | 3#4Reasons to Invest TSX-V: SOLR (1) Hybrid business strategy focused on high-margin segments of the fast-growing solar industry with multiple near-term catalysts . • Experienced leadership team has developed more than $1 billion of renewable energy projects Sales pipeline > $50 million and growing project backlog of $3.8 million • Targeting to achieve profitability during 2023 • Potential near-term Canadian acquisition opportunities in a fragmented market (2) Rapidly growing cashflow from installation division . • • Solar system design, engineering and construction business generating growing cashflow Q3 2022 revenue of $2,753,628 represents the highest quarterly revenue in company history 2022 annual revenue of $4,825,984 represents an increase of 31% over same period in 2021 (3) Recurring revenue from operating assets • Owner of a growing portfolio of operating assets that generate long-term recurring revenue • Two projects in New York completed in 2022, now operating and generating recurring revenue under 30-year PPAs . Proof of concept - additional opportunities to develop or acquire large scale pipeline of community solar Solar Alliance | 4#5Revenue Growth - Annual $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2.2 million $2,000,000 $1,000,000 TSX-V: SOLR $3.7 million $3.5 million $4.8 million $- 2019 2020 2021 2022 Figure 1: Annual revenue Solar Alliance | 5#6Current Footprint Focused on the U.S. Southeast TSX-V: SOLR Current areas of operations 2023 expansion potential (organic) Solar Alliance | 6#7Commercial Solar TSX-V: SOLR Solar Alliance | 7#8Commercial Solar Solar Alliance targets commercial and small utility solar projects to generate near term revenue. The commercial solar market consists of on-site solar installations for businesses, non-profits and governments. Annual Installed Capacity (MWdc) Commercial Solar PV Installations & Penetration Growth 1,800 1,600 1,400 1,200 1,000 800- 600- 1.1% 1% 0.9% 0.8% 0.7% L 0.6% 0.5% 0.4% 0.3% 0.2% 0.1% 0% 30 2020 2021 With a little more than 1% of commercial electricity demand served by on-site solar, there remains significant opportunities for growth. Solar Alliance has been rapidly scaling in this segment in recent quarters and expects continued double digit organic growth moving forward. 400 200- 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 Estimated Share of Total Commercial Electricity Sales Annual Commercial Solar Installations Source: SELA/Wood Mackenzie Power & Renewables U.S. Solar Market Insight Q3 2022 TSX-V: SOLR Share of Total Commercial Electricity Sales Solar Alliance | 8#9Past Commercial Solar Projects Hillside Theater - Whayne CAT 223,282 lbs Annually 136,088 kwh Annually Carbon Offset Energy Produced Lenior City, TN 68,803 lbs Annually 41,935 kwh Annually Hazard, KT BRIDGESTONE Bridgestone Americas - South Carolina - 2.4 MW CARBON OFFSET 2,829 lbs Annually Wampler's Sausage Farm Carbon Offset Energy Produced ENERGY PRODUCED 4 gigawatt hours Annually TSX-V: SOLR Appalachian Electric Co-Op Precision Parts Carbon Offset Energy Produced 32,123 lbs Annually 87,099 kwh Annually Maryville, TN Energy Produced 251,899 kwh Annually Winston Salem, NC SUBSET Solar Alliance | 9#10Quality Partners and Suppliers Solar Alliance offers an experience that makes our customers feel good about their investment. Our numerous projects across the U.S. serve as evidence of our commitment to our customers and the environment. We work for and partner with top tier manufacturers, suppliers and customers. KUB Maker's Mark BRIDGESTONE LGE KU Knoxville Utilities Board PPL companies GENERAC ZOO BOYD CAT knoxville Wampler's Farm H USDA Husqvarna TSX-V: SOLR Solar Alliance | 10#11Industries Served Agriculture wwwwww LLC Manufacturing Retail Outlets Autotus Professional Buildings Data Centers Utility TSX-V: SOLR Solar Alliance | 11#12Full-Service Provider Charging stations are integrated into our residential and commercial solar system products. As electric vehicles begin to saturate the market, electric vehicle chargers are becoming increasingly critical to building owners. Solar Alliance is a Tesla-approved Vendor and a Certified Electric Vehicle Charger installer for BMW, Jaguar, Land Rover and General Motors. M TSX-V: SOLR W LAND- -ROVER TESLA GM JAGUAR Solar Alliance | 12#13Solar Asset Ownership TSX-V: SOLR Solar Alliance | 13#14Solar Asset Ownership Solar Alliance targets community solar projects for long-term ownership and recurring revenue Early growth for community solar installations was led primarily by three key markets New York, Minnesota, and Massachusetts. Installed Solar Capacity (MWdc) Cumulative U.S. Community Solar Installations 4500 4000 3500 3000 2500 2000 1500 Now, community solar is growing across the U.S. and Solar Alliance is one of the few publicly-traded companies with the technical and financial expertise that is focused on these mid-sized solar projects. 1000 500 0 2014 New York 2015 2016 2017 2018 2019 2020 2021 Massachusetts Minnesota Maine New Jersey Illinois Maryland Colorado Others Source: SELA/Wood Mackenzie Power & Renewables U.S. Solar Market Insight Q3 2022 TSX-V: SOLR Solar Alliance | 14#15Solar Asset Ownership Solar Alliance's project ownership strategy is to build a fleet of assets that produce long-term recurring revenue streams. ● Solar Alliance currently owns and operates two projects in New York State totaling 687 kilowatts. • Both projects achieved commercial operations in December 2022 and are generating recurring revenue under 30-year power purchase agreements. Solar Alliance intends to further grow this solar asset portfolio over time through development and M&A. Project: US1 Size: 389-kW Location: Village of Union Springs, Cayuga County, NY. Project: VC1 Size: 298-kW Location: Village of Cazenovia, Madison County, NY TSX-V: SOLR Solar Alliance | 15#16Future Acquisition Opportunities Solar Alliance sees ample opportunities for future acquisitions, with the company primarily targeting: • • • Opportunities in the U.S. and Canada in the commercial/industrial and community solar segments Stranded solar project development pipelines that require development funding and technical expertise Near-, mid-, and long-term development stage projects • • Profitable EPC companies in the U.S. Southeast seeking public company exposure Low-capital entry into development and ownership of solar and energy storage projects TSX-V: SOLR Solar Alliance | 16#17Anticipated Acceleration in Canadian Solar Canada announced investment tax credits (ITCs) of up to 30% for renewable energy technologies in the 2023 federal budget, as announced by finance minister Chrystia Freeland announced in the government's Fall Economic Statement. • • • Canada is aiming to close the competitive gap with U.S. companies, following the introduction of U.S. President Joe Biden's Inflation Reduction Act (IRA) in 2022. The ITCs are expected to be available in 2023 and will be phased-out from 2032. Canada is also expected to launch a new growth fund later this year, as first outlined in April 2022, to attract "billions of dollars" of private sector investments in low carbon solutions, according to Freeland. Solar Alliance expects that this favourable backdrop will lead to a material acceleration of demand for both commercial/industrial and community solar, as occurred in the U.S. following the introduction of the IRA. Given this backdrop, Solar Alliance is pursuing commercial solar opportunities in Canada. "We will make it more attractive for businesses to invest in Canada to produce the energy that will power a net-zero global economy" - Canadian Finance minister Chrystia Freeland TSX-V: SOLR Solar Alliance | 17#18Capitalization TM Toronto Stock TSX Venture Exchange Exchange TSX-V: SOLR AT CLOSE MARCH 10, 2023 Share Price Common Shares Warrants $0.08 275M Options 14M Market Cap $23M Insider ownership 39% TSX-V: SOLR Solar Alliance | 18#19Management TSX-V: SOLR Michael Clark DIRECTOR & CEO • • 20+ years of media, public affairs, marketing and operations leadership experience with a variety of public and private companies. Formerly SVP Business Development for Finavera Wind Energy and 10 years as a journalist with Canadian Broadcasting Corporation. • MBA, Simon Fraser University. Rob Roberti ADVISOR • Brings more than 20 years of solar development, corporate finance, project finance and M&A experience. • • Prior to joining Solar Alliance, Mr. Roberti was the CFO and a founding executive of Cordelio Power. Prior to Cordelio Power, Mr. Roberti was the SVP Power Generation at Capstone Infrastructure. Rob holds a Bachelor of Commerce from the University of Toronto's Rotman School of Management and holds the CPA, CA, and CFA designations. Jon Hamilton GENERAL MANAGER, U.S. • Mr. Hamilton leads our solar team based in Knoxville, TN. • • Prior to joining Solar Alliance in 2016, Mr. Hamilton served in the United States Marine Corps in a variety of roles including Company Commander, Battalion Operations Officer, Commanding Officer and finally as an Analyst with the Strategic Initiatives Group. Mr. Hamilton holds a Bachelor of Science (Civil Engineering) from the Virginia Military Institute and a Master of Arts (Defense Studies) from Kings College London. Harvey Abouelata VP, COMMERCIAL SOLAR • Mr. Abouelata leads our large project business development initiatives. • Extensive experience in business management with a concentration in the renewable energy field. • Previously President of ARIES Solar, a privately owned Knoxville company involved in residential and commercial products and services for Solar PV and thermal design. Solar Alliance | 19#20Board of Directors TSX-V: SOLR Brian Timmons CHAIRMAN • • Mr. Timmons is a Fellow of the Association of Chartered Certified Accountants 30 years of experience in senior positions within companies across a range of industries, including fund management, investment banking (in Irish Life Assurance Co. and AIB Capital Markets PLC respectively), healthcare technology, bioscience, alternative energy and resource companies, e-commerce, telecoms and software IT. • Anton Shihoff DIRECTOR Energy finance veteran specializing in renewables and energy technology. Over the last 15 years he has completed deals in energy generation, demand-side management, energy efficiency and energy infrastructure. • Invests in a broad spectrum of deal sizes ranging from venture-stage technology companies through to large private equity project financings through a private investment vehicle - Altostrata Energy. • Anton is also a Trustee to the registered UK Charity: Peaceful Change Initiative. • • Ken Stadlin DIRECTOR Founder of Kenergy Solar, established a leading position in the residential and commercial sectors in the US mid-Atlantic region. A member of the Board of Directors for MDV-SEIA, Ken has played an active role in ongoing policy developments in the Maryland and Washington DC markets. He has served as Chairman of the DC Policy Committee for MDV-SEIA. Bachelor of Arts Degree from the University of Virginia and an MBA from the University of Maryland. Bob Miller DIRECTOR . Governor, State of Nevada, Longest in Nevada history (1989-1999) • Director of several public companies including Wynn Resorts (NASDAQ: WYNN), Newmont Mining Corporation (NYSE: NEM) and International Game Technology (NYSE: IGT). • • Jones, Vargas, Partner, Legal Practice, Government Relations, Gaming (2001-2009). High-level government affairs and business development activities both in the United States and abroad, combined with deep public company experience. Solar Alliance | 20#21Reasons to Invest TSX-V: SOLR (1) Hybrid business strategy focused on high-margin segments of the fast-growing solar industry with multiple near-term catalysts . Experienced leadership team has developed more than $1 billion of renewable energy projects • Sales pipeline > $50 million and growing project backlog of $3.8 million • Targeting to achieve profitability during 2023 • Potential near-term Canadian acquisition opportunities in a fragmented market (2) Rapidly growing cashflow from installation division . • • Solar system design, engineering and construction business generating growing cashflow Q3 2022 revenue of $2,753,628 represents the highest quarterly revenue in company history 2022 annual revenue of $4,825,984 represents an increase of 31% over same period in 2021 (3) Recurring revenue from operating assets • Owner of a growing portfolio of operating assets that generate long-term recurring revenue • Two projects in New York completed in 2022, now operating and generating recurring revenue under 30-year PPAs . Proof of concept - additional opportunities to develop or acquire large scale pipeline of community solar Solar Alliance | 21