Investor Presentation

UGE is building a significant, long-term value creation engine To develop a project, we invest... $0.03-$0.10/watt¹ Development Expenses 2-3 years = $0.40/watt² + UGE starts to monetize developer surplus at NTP Current Project Backlog³ 348MW What does this mean for UGE? Developer Surplus $139M 1 Development expenses - includes development period rent, interconnection costs, and other pre-NTP expenses 2 Representative numbers on typical projects developed by UGE 3 As of Aug 2023 UGE TSXV: UGE | OTCQB: UGEIF Plus, recurring revenues of... $0.21/watt/year² On projects over 25-40 years + Annual Operating Revenue $73M 6

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