2

The Beginning of Our Story: Rescue & Relief

Hope Town United was formed in the hours after when Brian Malone, 8th generation descendent of Hope Town’s founder Wyannie Malone, met Hope Town homeowner Matt Winslow.

Brian led Elbow Cay’s US-based response to Hurricane Floyd in 1999 as the Deputy Chief of Hope Town Volunteer Fire & Rescue and Matt is a director of the Sands Family Office (founders of Constellation Brands).

Matt and Brian quickly tapped into their network and assembled a world-class recovery and restoration organization focused on getting Hope Town back on its feet while creating an innovative global model for disaster recovery and restoration. 3

The Beginning of Our Story: Rescue & Relief (continued)

With surrounding airports under water, Hope Town United helped to organize the private evacuation of approximately 250 residents, the largest single evacuation in after Hurricane Dorian.

In the ensuing days, HTU shipped 50 tons of critical supplies including food, water, tools, medical supplies and generators along with private security and search & rescue teams to the island.

HTU also formed a disaster response team that traveled to Nassau, successfully soliciting and securing assistance from multiple NGOs, most notably Samaritan’s Purse. 4 5

Our Vision For Hope

Hope Town United is committed to leading Elbow Cay’s recovery from Hurricane Dorian. Our focus is on the restoration of historic public structures such as the medical clinic and school, along with resident homes while also engaging global engineering experts to design and construct the most resilient and environmentally sustainable utilities infrastructure in the world. 6 Hope Town United Goals 7 8 Hope Town Recovery 9 Hope Town United is Leading the Recovery & Restoration

ü Directly funded & coordinated the island-wide debris clean-up and staging program ü Proposal submitted to Reconstruction Authority for debris removal support inclusive of barges and tub grinder to reduce the volume of organic waste

ü Leading the restoration of Hope Town Primary School ($2 million, Partially Funded)

ü Leading the restoration of the Hope Town Medical Clinic ($3 million, Fully Funded)

ü Leading the restoration of all Hope Town Public Docks ($400,000, Partially Funded)

ü Formed a global team of subject matter experts to design and construct cost-effective, resilient homes for uninsured residents (Cost TBD, Partially Funded) 10 Rendering of the New Hope Town Primary School Breaking Ground in February 2020 – Opening Fall 2020 11

Our Focus Now Turns to the Utilities Infrastructure We are designing the most innovative, resilient and sustainable utilities infrastructure in the world that will serve as a scalable model in the face of increasingly frequent natural disasters.

We will accomplish this through the creation of an innovative blended finance structure, inclusive of preferred equity, philanthropic capital and debt. 12 As the Epicenter of Tourism in Abaco, Hope Town Simply Can not Return to Business as Usual for Their Power.

Feedback from the community: 13 The State of Above Ground Power on Elbow Cay

Pre-Dorian Post-Dorian 14 Hope Town’s Engineering Partner WHO WE ARE

#28 Platinum Elite #11 Top 500 Design Firms Top 100 Canada’s Biggest MEP Giants Top 100 ENR, 2019 Infrastructure Projects Consulting-Specifying ReNew Canada, 2019 Engineer, 2018 local roots, global reach

90+ 113 offices globally years of service 3000+ employees markets

Aviation Energy Hospitality + Gaming Pipelines Bridges Entertainment + Sports Justice + Correctional Rail + Transit Civic Federal Land Development Science + Technology Commercial + Retail Healthcare Mission Critical Water Education Highways + Roads Oil, Gas + Chemicals 18

Our Vision is to Build the Most Resilient and Sustainable Island in the World. 2/5/20 Hope Town United 19 20 Underground Utilities

• Installation of underground power throughout the entire island and neighboring cays • Underground utilities are essential to resilient infrastructure in locations subject to natural disasters.

• Capital Expenses are captured by each utility • Estimated Cost for full island underground power distribution is $22 Million • Estimated schedule for underground power distribution is 4-12 months (in phases)

• Value Added • During the trenching for underground power distribution additional utilities can be installed saving mobilization and trenching costs. • This includes fiber, potable water, heating and cooling water. 21 Micro/Smart Grid

• Installation of microgrid and smart grid technology • Optimizes operation of power generation, storage, and consumption • Helps prevent total island power loss if a portion of the grid is damaged • Estimated Capital Expenditure: $1 Million • Requires Fiber Connection • Revenue Streams • Enables intelligent staging and utilization of power generation equipment. 22 Photovoltaic Solar Power Generation

• Installation of 5 Megawatts of solar power generation • Solar power generation has zero CO emissions and decreases the carbon footprint of the island energy UTILITY + COMMERCIAL/RESIDENTIAL consumption. • Solar panels will be designed and engineered to withstand future natural events and establish a power source that eliminates Elbow Cay’s dependence on neighboring islands. • Estimated Capital Expenditure: $18 Million • Revenue Streams • Electricity 23 Microturbine Power Generation

• Installation of 1 Megawatt of microturbine power generation. • LNG generator is more efficient and produces less emissions than traditional thermal solutions • Provides power generation capabilities at all times (including night & cloudy days) • Estimated Capital Expenditure: $1.5 Million • Revenue Streams • Electricity • Value Added • Additional opportunity to easily capture waste heat on island for hot water consumption • Built in redundancy with 5 smaller 200kW generators = less down time 24 Battery Storage

• Installation of 20 MWh of battery storage

into the island’s micro grid .

• Battery storage allows solar power generated during the day to stored

and be consumed at night.

• Estimated Capital Expenditure: $12 Million

• Revenue Streams • Electricity (off peak)

• Value Added

• Grid stability for primary solar

generation

• Energy usage during non-solar hours

• Backup solution for the island 25 Communications Fiber Network

• Installation of underground fiber telecommunication • Underground fiber is a resilient solution for continued communication during natural events. • Estimated Capital Expenditure: $8.1 Million • Revenue Streams • Television, Internet, & Phone services • Value Added • Allows for complete connectivity for business and personal needs. • Installation of the fiber network enables future addition of a 5G network improving cellular and data speeds up to 4 times faster than current. 26 District Reverse Osmosis Plant

• Installation of a potable water reverse osmosis plant and piping distribution. • Underground piping distribution is resilient to natural events. • Estimated Capital Expenditure: $6.4 Million • Revenue Streams • Potable Water • Value Added • District domestic water provides drinking water to all residents at all times • Local RO system energy consumption is reduced • Centralizing potable water production would enable installation of a district domestic hot water plant. 27 Waste to Energy Plant

• Installation of a gasification waste to energy plant

• A sustainable way to capture and treat waste on island

• Estimated Capital Expenditure: $10 Million

• Revenue Streams

• Electricity

• Waste Collection

• Recovered Metals

• Road Bed Material

• Value Added

• Waste Heat can be capture by additional utility (i.e. District Domestic Hot Water)

• Off island waste collection can become an expansion of this utility with additional revenue streams 28 Distributed Wastewater Treatment

• Installation of distributed wastewater treatment plants • A better solution than existing wastewater solutions that utilize local tanks and dissipation to the earth, which is poor for the environment • Waste sludge can be fed into the W2E gasifier for additional power • Estimated Capital Expenditure: • $17 Million full solution or • $7.1 Million for the Settlement • Revenue Streams • Additional W2E Electricity INFRASTRUCTURE UPGRADE HOPE TOWN UNITED 29 FULL SOLUTION

REVENUE UTILITY REVENUE

BPL UNDERSEA 5G NETWORK CABLE/GRID (FUTURE PARTNER)

BATTERY STORAGE 20 MWh

COMMUNICATIONS TELECOM REVENUES FIBER

CHILLED WATER SOLAR PV 3-5 MW REVENUES

DISTRICT HOT WATER REVENUES

MICROTURBINES 1.25 MW MICROGRID UNDERGROUND UTILITIES DOMESTIC WATER REVENUES

WASTE COLLECTION REVENUES ELECTRICITY WASTE TO ENERGY REVENUES 0.25 MW GASIFICATION RECOVERED METALS DISTRIBUTED DISTRICT DOMESTIC DOMESTIC WATER - DEEP SEA WATER WASTEWATER REVENUES WASTEWATER HOT WATER RO COOLING TREATMENT TREATMENT REVENUES

OFF-ISLAND WASTE ISLAND WASTE WELL TRUCK DELIVERY SEA WATER WASTEWATER (FUTURE)

INPUTS AND OUTPUTS Legend REVENUE COMMUNICATIONS UTILITY WASTEWATER ELECTRICITY HEAT WATER MSW 2019.11.21 v3.0 30

2/5/20 Hope Town United 31 The Model for Full Economic Recovery

RESCUE RECOVERY REBUILD

50 Cash For Medical Emergency Debris School Resident Evacuations Work Public Docks Clinic Utilities Relief Removal Rebuild Home Programs Rebuild Rebuilds

Total Capital Required $250,000 $750,000 $7,000,000 $250,000 $400,000 $3,000,000 $2,000,000 $2,500,000 $130,000,000

Philanthropic Capital

% Grants/In-Kind 100% 100% 100% 100% 70% 100% 30% 50% 10%

Traditional Capital

% Senior Debt 60% = Committed/Underway % Preferred Equity 30% = Indicated After return is achieved, Private % Community = Currently Raising Equity taken out and Utilities Co. 51-100% transitions to community ownership 32

Financial Highlights - Initial Outside Investment with pathway to Community Ownership in short timeframe - Investment in fixed assets is limited to equipment and facilities - No increase cost to community from today’s rates – option to decrease with ownership - Potential for yearly community investment fund for island improvement projects and/or future storm recovery fund - Estimated $130M USD cost - Remove Preferred Equity and Refinance between 7-10 years - Revenue is sustainable for operations, maintenance, and capital improvement projects 33 Draft Financial Model Highlights 34 35 Our Family’s Commitment to Hope Town

In the interest of continuing momentum and expediting Hope Town’s recovery, the Sands Family will consider a $20-25 million 0% interest bridge loan so construction on the underground utility infrastructure can begin immediately.

The loan is contingent on approval of the complete proposed utilities infrastructure solution for Elbow Cay, Tilloo Cay & Lubbers Quarters Cay. 36 Next Steps

• In collaboration with Central Government, Rocky Mountain Institute (RMI) and BPL, HTU desires to immediately begin the construction of an underground utilities grid on Elbow Cay, Lubbers and Tilloo Cay.

• Concurrently, we desire to continue negotiations and discussions with potential funding sources like Enernet Global and others for the full $130 million cost of the new resilient, sustainable utilities infrastructure.

• Working with our legal counsel, begin the application process for the public private partnership structure 37

Organizational Structure and Leadership Team 38 Leadership

Sands Family Foundation - Philanthropic arm of the Sands family, founders of Constellation Brands, the largest multi-category beverage alcohol company in the world.

Matt Winslow - Director, Sands Family Office and Hope Town community member.

Brian Malone - Former Hope Town Fire Chief and emergency responder, 8th generation descendent of Wyannie Malone, the founder of Hope Town.

Frank Knowles - 8th generation descendant, active Hope Town community member, entrepreneur for 20 years and realtor on Elbow Cay for the last 16 years. 39 Strategic Advisory Committee

Richard Sands - Executive Vice Chairman, Constellation Brands

Senator Tom Harkin - United States Representative (Iowa), 1975-1985, United States Senator, (Iowa) 1985-2015

John Delaney, QC – Senior Partner, Delaney Partners, Commercial Lawyers

Michael Cooney - Partner, Nixon Peabody

C. Vernon Malone - Justice of the Peace, Marriage Officer for the Commonwealth of the Bahamas, and recipient of the Queen’s Birthday Honours, Gold Medal and Certificate in the fields of Business and Religion

*Full Bios in Appendix 40 Government Advisory Committee

James Albury - M.P. Parliamentary Secretary OPM

Victor Patterson - Chairman of the Central & Branch of the Free National Movement

John Pinder - Hope Town District Council

Deborah Patterson - Hope Town District Council 41 Consultants

EXP – One of the largest engineering firms in the world with over 3000 professionals and a multitude of large-scale projects across the Bahamas, EXP will provide expert, objective oversight and consultation working with HTU and the Community to recommend the most resilient and environmentally sustainable infrastructure solutions for Elbow Cay.

Boston Consulting Group (BCG) – BCG was hired by the City of New Orleans after Hurricane Katrina and the City of New York after Superstorm Sandy, to develop disaster relief and recovery strategies. BCG will work with HTU and the Hope Town Community on impact investment strategies and potential public-private partnership structures with central government.

Precision Strategies – Precision Strategies will work with HTU to create a compelling narrative and international fundraising campaign platform. They are an integrated marketing and communications agency founded by the digital team that led the successful reelection campaign for President Obama in 2012. 42

APPENDIX 43 Strategic Advisory Committee

Richard Sands - Executive Vice Chairman, Constellation Brands - Mr. Sands is Constellation’s executive vice chair. Richard is responsible for providing strategic leadership, working with the board of directors to advise on the company’s long-range goals, strategies, plans and policies. Richard has been with Constellation in various capacities since 1979. He was elected as chairman of the board in 1999 and served in that role for 19 years. Richard led the company as chief executive officer from 1993 to 2007 and as president from 1986 to 2002. He served as chief operating officer from 1986 to 1993 and as executive vice president from 1982 to May 1986.

Richard serves as Chairman for the Education Success Foundation, Education Success Network, Friends of CMAC, and as the Treasurer for the Canandaigua Area Development Corporation. He is currently an emeritus board member of both Rochester Institute of Technology and University of Rochester after having served many years on both Boards of Trustees.

Senator Tom Harkin – United States Representative (Iowa), 1975-1985, United States Senator, (Iowa) 1985-2015, Elbow Cay resident since 1978. Senator Harkin served five senate terms and at the end of his time in the senate served as chairman of the Senate Committee on Health, Education, Labor and Pensions. Senator Harkin authored the American Disabilities Act in 1990 and was its chief sponsor in the Senate. When he left the Senate in 2015, he was the most senior junior senator after serving for 30 years and the sixth most senior senator overall. 44 Strategic Advisory Committee (cont.)

John Delaney, QC , Senior Partner, Delaney Partners – A former Attorney-General of The Bahamas and one of Her Majesty’s Queens Counsel, John is renown as a leading commercial law specialist. Highly valued by industry to navigate complexities and pitfalls to achieve strategic business objectives, John has held non-executive directorships of major financial institutions and publicly listed companies, and has served as member and chair of audit committees. He has been principal advisor in several major commercial transactions, acquisitions, and mergers within The Bahamas, including acquisitions by or mergers with regional entities. John also has a history of national contribution. In year 2000 he was private sector legal advisor to the Government on major financial services legislative reforms, and over the years has been a member of various national or industry boards, including: Road Traffic Authority, National Insurance Board, Bahamas Financial Services Board, and Chair of The Bahamas Trade Commission. John has also recently served as a co-Chair of the National Economic Advisory Committee, to advise the Office of the Prime Minister and Government on matters within that Committee’s remit.

Michael Cooney, Partner, Nixon Peabody – Michael Cooney is a partner at the international law firm Nixon Peabody LLP in its’ Washington, DC office, and the head of its higher education and exempt organizations groups. He has spent more than three decades at the firm representing a range of colleges and universities, healthcare providers, foundations, cultural and religious organizations. Mr. Cooney provides the nonprofit corporate and tax- exempt context in which these organizations can drive mission and margin. He was selected by his peers for inclusion in The Best Lawyers in America© in both 2017 and 2019 as Non-Profit/Charities Law “Lawyer of the Year” in Washington, DC. 45 Strategic Advisory Committee (cont.)

C. Vernon Malone - Justice of the Peace, Marriage Officer for the Commonwealth of the Bahamas, and recipient of the Queen’s Birthday Honours, Gold Medal and Certificate in the fields of Business and Religion, Vernon is a lifelong resident of Hope Town. He received his education in the public- school system and from private tutoring for advanced studies in bookkeeping. At the age of eighteen he began his professional life at the New Hope Lodge and Marina which later became the original Elbow Cay Club. In 1962, Mr. Malone went into business for himself as a merchant, baker and hosteler. Located on property which was passed down from the original Malone settlers in 1785, Vernon’s Grocery and Upper Crust Bakery continued to serve the international community until Sept 1st, 2019. 46

MATT WINSLOW Chairman, Hope Town United [email protected] 718.714.8867