Investor Presentation

Our projects have robust capital structures Typical structure involves debt, tax equity, and Equity 100% 10% 1 90% Equity: Developer's out-of-pocket contribution 80% 30% 2 2 Tax equity: monetization of the Investment Tax Credits (ITCs) generated 70% 3 Debt: construction-phase to operational, individual project or portfolio level 60% 50% 40% How does UGE finance projects? 3 • Debt: U.S. banking relationships 30% 60% Tax equity: institutional investor relationships Equity: paid in kind 20% UGE 10% TSXV: UGE | OTCQB: UGEIF Typical Project Funding Sources 27 27

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