SaskPower’s 2030 renewables target and a $90-million Wind and Solar opportunity

Swift Current as a hub for ’s $5-billion renewables expansion

Monday 11 July. 7:00 pm Credit Union iPlex/Civic Centre

1-of-22 Certain statements made in this document may constitute "forward-looking information" in Canada that involve known and unknown risks, uncertainties and other factors that may cause actual events, performance or achievements to be materially different from those expressed or implied by such forward looking information. Forward-looking information includes, but is not limited to, expectations regarding the future development of renewable energy projects, project development and construction progress, future results of operations and financial condition, environmental and regulatory considerations, and plans, objectives or goals. This information reflects current expectations regarding future events and operating performance, and speaks only as of the date of this document. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances.

The forward-looking information is based on a number of assumptions including, among other things: absence of material litigation or labour disruptions; expectations related to future general economic conditions; and expectations concerning the future legislative and regulatory environment in which we will operate.

Forward- looking information involves a number of risks and uncertainties including, but not limited to: competition in the renewables industry; risks relating to the development and construction of renewables projects; and risks related to the willingness of SaskPower to execute a power purchase agreement. The foregoing list of factors is not exhaustive.

While the forward-looking information contained herein is believed to be accurate and reliable, neither we nor our affiliates, employees, officers, directors, agents or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of such information or of any other written or oral information communicated in connection with this document, and we, our affiliates, employees, officers, directors, agents and representatives expressly disclaim any responsibility or liability in connection therewith or arising therefrom. The forward looking information is provided for information purposes only and this information may not be appropriate for other purposes. The forward-looking information contained in these materials is expressly qualified by this cautionary statement.

2-of-22 Agenda The purpose of this meeting Introduce the team + our history Wind and solar – the opportunity Wind and solar development & ownership: corporate vs. community Swift Current Community Wind & Solar - Community ownership: the $100-million advantage - Ownership structure & Cash Flows - The Board Timeline: Development, Construction & Commissioning What now?

3-of-22 Source: Navigant Consulting, Bloomberg New Energy Finance, Lazard Investment Bank, US White House, US Department of Energy 4-of-22 Source: US Energy Information Administration: 2015 Levelized Cost of Electricity Analysis

5-of-22 Source: BP Plc. 2016 Statistical Review of World Energy

6-of-22 Source: BP Plc. 2016 Statistical Review of World Energy

7-of-22 Source: IRENA Global Atlas & 3TIER Global Wind Resource Data

8-of-22 Source: Natural Resources Canada

9-of-22 Source: American & Canadian Wind Energy Associations, Global Wind Energy Council, Bloomberg NEF, SaskPower Annual Reports.

10-of-22 Source: SaskPower press release & SaskWind calculations

11-of-22 1212-of- 22 13-of-22 14-of-22 The West Mill Wind Energy Coop UK 14 15-of-22 16-of-22 17-of-22 GSR opened in 2009 after purchasing the 188 km track from CP rail. All of the RMs, towns and villages along the line participated in the capital raise.

The South-West Grain Terminal opened its doors to producers In January 1997 and is the first producer-owned grain terminal in south west Saskatchewan.

The Roughriders are one of only a few publicly owned North American professional sports companies. This unique ownership structure is crucial to their famously loyal fan base.

18-of-22 Premier Brad Wall Saskatchewan Throne Speech. May 2016

“My government is committed to providing more green energy. Our plan will assist Saskatchewan in moving toward its target of having 50 per cent of electrical power needs generated by renewable sources by 2030.”

“My government was re-elected based on a campaign that made few specific promises but instead one simple commitment – to keep Saskatchewan strong.”

19-of-22 • First discussions w/ SaskPower re concept (Summer 2012) • Started discussions w/ RM Swift Current (Summer 2014)

• Met w/ SaskPower senior management (Summer 2015)

• Various meetings w/ SaskPower management (2016)

• Discussions with wind turbine & solar panel suppliers • Detailed financial modelling to demonstrate project viability

20-of-22

• SaskPower has a well-defined tender process: RFQs/RFPs

o This project, as a first in North America, does not fit within it

SaskPower’s Unsolicited Power Proposal (UPP) Process •  Project does not fit a current or planned program  Is not an electricity supply proposal that will be competitively bid

 Is a long term supply opportunity

 Is an opportunity to develop a unique supply proposal for Sask.

• We have, from the beginning, requested UPP consideration

21-of-22 • Expression of community support. Project Champions!

• Landowners interested in hosting the turbines & panels

• Follow-up meeting two weeks from now for persons who wish to commit land and/or resource

22-of-22 23-of-22 24-of-22 Source: US Energy Information Administration – Electric Power Monthly 25-of-22 Source: US Energy Information Administration – Electric Power Monthly 26-of-22 27-of-22