Investor Presentation

The Value of an IPP 1. What is an IPP? Owner/Operator of a portfolio of energy generating assets 2. What is the appeal? • Long-term return generation via energy sale/production Current average IPP EV/EBITDA multiple: 13.0X 3. How UGE stands out • Full project lifecycle developer from start to finish* Mid-scale assets: higher returns; enable 'equity-lite' business model 25-40 year lifetimes, longer than the industry average UGE See following slide for additional detail regarding UGE's business model TSXV: UGE | OTCQB: UGEIF ED FOR ff FREE

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