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Investor Presentaiton

Energy Practice An Industry in Transition with Major Challenges Presents Attractive Opportunities for Practice Growth Around Consumer Choice, Renewables, and Sustainability Technology Disruption Consumer Attitudes Changing Regulatory Environment 1. Increasing benefits and adoption of energy efficiency technologies 2. Continued declining costs of renewable energy generation 3. Increasing scale and declining costs of battery storage 4. Increasing digitalization – big data, Al, smart devices 5. Rollout of EVs in auto industry - infrastructure / load impact 6. Improving technologies for space heating and cooling Cost competitiveness of coal/gas 1. Rapidly increasing concern for climate change across the US 2. Increasing negative attitudes towards natural gas 3. Greater public acceptance for increased energy efficiency 4. Adoption of Electric Vehicles 5. Adoption of Smart products and impact on demand 6. Acceptance of non-utility players providing new energy services 7. Increased adoptions of DERS - rooftop solar, batteries, etc. 1. Increasingly aggressive local building efficiency codes 2. Growing number of states / cities with 100% renewable targets 3. Various carbon tax proposals across the US 4. Transport and buildings de- carbonization policies 5. Potential for rate and utility model restructuring 6. High local resistance to any new gas infrastructure development 7. Potential impact of 2020 election 43 CRAC Charles River Associates
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