Regional Power Inc

Regional Power has been in the business of developing, building, refurbishing and operating renewable energy power plants since 1985. Regional Power is a fully owned subsidiary of Manulife.

Operations

Currently, Regional Power operates eleven (11) hydroelectric facilities with a total generating capacity of 107 MW.

Third Party-Owned – 37 MW

• Previously developed three (3) greenfield hydroelectric facilities (two in BC and one in Ontario, 33 MW total capacity) and rehabilitated three (3) existing facilities in Northern Ontario (4 MW total capacity). In 2001, Regional Power sold these facilities to Clean Power Income Trust (now Capstone Infrastructure Corporation). Regional Power continues to operate these assets for Capstone under a long term contract

Regional Power-Owned – 70 MW

• Regional Power recently completed the development and construction of three (3) facilities located in British Columbia (Upper Bear Creek, Lower Bear Creek, and Long Lake; 51 MW total capacity) and two (2) facilities located in Ontario (Upper White River and Lower White River; 19MW total capacity). Regional Power operates these five (5) facilities.

Development

Regional Power has seven (7) projects in various stages of development with an estimated 293 MW of total generating capacity.

Advanced Development and Construction

Regional Power has two (2) hydroelectric development sites at advanced stages of development with a total estimated generating capacity of 170 MW.

• 1 under development in British Columbia (Ryan River, 145 MW capacity),
• 1 under development in Northwestern Quebec (Angliers, 25 MW capacity).

Early – Mid Stage Development

In addition, Regional Power has the rights to five (5) other sites which, once they obtain power purchase agreements and are completed, would have an aggregate capacity of 123 MW.

• 3 in British Columbia
• 1 in Ontario, and
• 1 in Quebec

Vision – Our Goal

We create renewable energy responsibly.

Mission – How We Get to Our Goal

We pursue our vision following these guiding principles:

• Develop and foster a team with passion, integrity and a commitment to excellence
• Conduct our activities mindful of the natural environment and aboriginal peoples
• Execute projects with long term contributions to our host communities and stakeholders

Strategy

Regional Power serves as an origination platform for long-term, high credit quality cash flows to match insurance company liabilities

• Renewable energy assets are typically long life assets (25+ years) generating predictable cash flows
• Regional Power’s management is experienced in renewable energy generation and has a proven track record of developing, financing, constructing and operating hydroelectric facilities to create value
• Regional Power has a growth mandate and, in order to meet this mandate, the company plans to deploy capital and leverage its core capabilities to expand into pump hydro, wind and solar

Investment Principles

In executing our strategy, Regional Power will invest in projects with the following characteristics:

1. Proven technologies – proven power generation technologies and infrastructure assets in situations where we feel our experience and
   expertise adds value
2. In stable countries with a clear legal framework
3. Long term cash flow potential – long term development rights and/or land access rights
4. High credit quality counterparties or proven and demonstrated market based pricing – projects that have or will likely have a long term electricity purchase agreement with a reasonably creditworthy counterparty, however we will consider projects that are subject to spot
   market electricity price exposure
5. Control development and financing – development assets where we have a level of control necessary to participate in major decisions
   and a first right or offer to provide debt financing
6. Operational control
7. Yielding attractive unlevered rates of return
8. Community support – preference for projects that have local community, government agency, and/or indigenous peoples support