An Introduction to Solar Project Finance at Wunder Capital. Hosted by Noah Kirsch, Financing Director at Wunder Capital. With special guest, Bill Becker, Principal at Scout Solar

1. WUNDER CAPITAL
Webinar Hosted by Wunder Capital
Special Guest: Bill Becker of Scout Solar
The Leading Marketplace Lender in U.S. Solar
© WUNDER 2017 | 10/17/2017 | SEE DISCLAIMER: SLIDE 16

2. What Does Wunder Do?
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Investors &
Financiers Wunder
Solar
Projects
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3. What Types of Projects Qualify?
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Host & 3rd-Party Owned
OWNERSHIP STRUCTURES
<90% of Site Needs
UNDERSIZED SYSTEMS
$100K - $2MM
LOAN AMOUNTS
50kW - 3MW
SYSTEM SIZES
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4. Wunder Underwriting
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GROSS
SYSTEM
METRICS
NET
SYSTEM
METRICS
TECH
RISK
INSTALLER
RISK
BORROWER
RISK
OFF-TAKER
RISK
DEVELOPER
RISK
SITE-
SPECIFIC
MARKET
DEMO
UTILITY
REGION
EPC
CONC.
BORROWER
CONC.
STRATEGIC DEFAULT ENTITY VACANCY PORTFOLIO DIVERSIFICATION
CREDIT
WUNDER CREDIT DECISION
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5. Wunder’s Payment Structure & Cost Savings
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TIME (YEARS)
TOTALELECTRICITYPAYMENT
ELECTRIC BILL WITH SOLAR
ENERGY BILL SAVINGS
ELECTRIC BILL WITHOUT SOLAR
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6. What Types of Projects Qualify?
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WAREHOUSES FACTORIES SCHOOLS CHURCHES
MUNICIPAL BUILDINGS RETAIL RESTAURANTS COMMUNITY SOLAR
HOSPITALS DISTRIBUTION CENTERS OFFICE PARKS + MANY MORE
GAS STATIONS HOTELS AGRICULTURE CAR DEALERSHIPS
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7. What makes Wunder Financing attractive?
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ASSET-BACKED LOANS
Wunder takes a security interest in each solar system financed.
SOLAR+ CREDIT ASSESSMENT
Wunder exclusively focuses on lending to solar projects in the C&I space, so we will underwrite both
the value of a solar system and the creditworthiness of the borrower.
TIMELY CLOSING
Wunder can finance projects within 2 weeks of receiving a financing application.
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8. What makes Wunder Financing attractive?
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ORIGINATION FEE
Wunder loans have a 2% origination fee on principal.
MONTHLY SERVICE FEE
1% of the month’s interest and principal payment.
What You See Is What You Get.
There are NO application fees, dealer fees, or hidden charges.
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9. Project Pipeline
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$120M$0
10/1/16 9/1/17
TIME (MONTHS)
SEPTEMBER 2017
$107,770,392
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10. Solar Partner Network
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11. Scout Solar
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Bill Becker
Founder & CEO of Scout Solar
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12. Case Study: North Phoenix Church
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ENERGY OFFTAKER: A church and Christian youth
center with strong financials that is located in a
general-use commercial space North of Phoenix,
AZ .
THE PROJECT: Scout Solar developed a 200kW
project to help the energy offtaker transition to
solar energy and save money on their monthly
electric utility bill. Wunder Capital was brought in to
finance the project.
8.88%
Interest Rate + Fees
$301,179
Loan Amount
$3,500
Energy Cost Savings (Yr 1)
© WUNDER 2017 | 10/17/2017 | SEE DISCLAIMER: SLIDE 16

13. Case Study: Phoenix Charter School
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ENERGY OFFTAKER: A leading K-9 charter school
located in Phoenix, AZ that educates 800 students
per year. The school scores in the top decile/
quintile of testing for all subjects.
THE PROJECT: Scout Solar developed a 407kW
project to help the energy offtaker transition to
solar energy and save money on their monthly
electric utility bill. Wunder Capital was brought in to
finance the project.
9.21%
Interest Rate + Fees
$450,000
Loan Amount
$6,500
Energy Cost Savings (Yr 1)
© WUNDER 2017 | 10/17/2017 | SEE DISCLAIMER: SLIDE 16

14. Case Study: AZ City Hall
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ENERGY OFFTAKER: A rated municipality (Moody’s:
A2) Northwest of Phoenix, AZ with multiple
facilities.
THE PROJECT: This project, a 46kW system on the
old City Hall, is one of four that Scout Solar has
developed for the offtaker and Wunder Capital has
financed. The other projects include one for a new
City Hall, as well as two for local recreation
centers.
9.21%
Interest Rate + Fees
$50,084
Loan Amount
$800
Energy Cost Savings (Yr 1)
© WUNDER 2017 | 10/17/2017 | SEE DISCLAIMER: SLIDE 16

15. Questions?
invest@wundercapital.com
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16. © WUNDER 2017 | 10/17/2017 | SEE DISCLAIMER: SLIDE 16
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Company (“Wunder”). Please contact Wunder for more information. Wunder is headquartered in Boulder, Colorado.
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