SunFunder World IA Day 2015 Seattle

1. Bringing off-grid Solar to Emerging Markets SunFunder Sameer Halai Chief Design Officer @sameerhalai @sunfunder #sunfunder #WIADseattle #WIADsea15

2. The Off-grid Solar Market How SunFunder Works Business Strategy Risk Mitigation Storytelling

3. 2.5B with insufficient ELECTRICITY 600M with cellphones NO CHARGING

4. THE POOREST FIFTH OF THE WORLD PAY ONE-FIFTH OF THE WORLD’S LIGHTING BILL — BUT RECEIVES ONLY .1 PERCENT OF THE LIGHTING BENEFITS

5. DIESEL & KEROSENE DOMINATE

6. ABOUT 1.5 MILLION PEOPLE DIE OF INDOOR KEROSENE POLLUTION EVERY YEAR, IN ADDITION TO THOSE WHO DIE FROM BURNS IN FIRES EFFECTS ON HEALTH

7. BARRIERS TO INFORMATION ACCESS

8. BARRIERS TO SAFETY AND SECURITY

9. BARRIERS TO COMMERCE

10. BARRIERS TO EDUCATION

11. CELL-PHONES ARE EVERYTHING

12. CELL-PHONES ARE EVERYTHING

13. KEROSENE COSTS 25 PERCENT OF A FAMILY’S INCOME. $2-$10 A MONTH — $36 BILLION A YEAR

14. CELL PHONE CHARGING COSTS $2-$6 A MONTH (10-20% of income)

15. IMMEDIATELY ADDRESSABLE COMMERCIAL & INDUSTRIAL DIESEL IS $50B

16. BETTER: BRIGHTER 10 lumens100 lumens

17. BETTER: CHEAPER

18. BETTER: RELIABLE

19. BETTER: LIFE CHANGING

20. BARRIER: CAPITAL INTENSIVE

21. BARRIER: PAYBACK TIME 1yr to 3yrs

22. BARRIER: TOO RISKY FOR BANKS

23. BARRIER: HARD TO SCALE WITH MICROFINANCE ALONE

24. The Off-grid Solar Market How SunFunder Works Strategy Risk Mitigation Storytelling

25. TRENDS: ENERGY DEMANDS ARE INCREASING

26. TREND: HUGE UNMET CAPITAL NEEDS

27. TREND: SOLAR ENERGY IS GETTING CHEAPER

28. economics are compelling moral urgency is profound the development benefits are enormous potential leverage is game changing CARL POPE, YALE

29. Fundraising & Lending DISTRIBUTORS INSTALLERS MICRO-GRID COMPANIES COMMERCIAL SUPPLIERS (Example) ANGEL INVESTORS / HNIs IMPACT INVESTORS / FAMILY FUNDS / FOUNDATIONS GOVERNMENT / DFIs CAPITAL MKTs / PENSION FUNDS / ENDOWMENTS CROWDFUNDING Investors Borrowers

30. Equity Debt Solar Empowerment Fund Grants Investors

31. Distributors/ Suppliers Installers/ PAYG Customers Microgrids/ Commercial In Progress In Progress

32. Experienced, Passionate Team Ryan Levinson Founder & CEO Audrey Desiderato Co-Founder & COO Sameer Halai Co-Founder & Chief Design Officer Alycia Kellman Chief Counsel & Head of Debt Funds Andrea Griffin VP, Portfolio Cindy Nawilis Director, Investor Relations & Operations U S A T A N Z A N I A Baraka Megiroo Financial Analyst Joshua Kabugo Credit Associate Abbas Mohamed Credit Committee Gabriel Williams Lead Developer

33. DISTRIBUTORS $33,000 loan 6 month tenor 300 solar systems financed 1,500 lives impacted $58,500 in energy cost savings/yr 96,600 kg CO2 avoided/yr

34. $200,000 loan 24 month tenor 340 systems financed 3,111 lives impacted $78,880 in energy cost savings/yr 54,340 kg CO2 avoided/yr INSTALLERS

35. MICRO-GRID COMPANIES $30,000 loan 36 month tenor 50 microgrids financed 6,250 lives impacted $27,932 in energy cost savings/yr 169,000 kg CO2 avoided/yr

36. COMMERCIAL (example) $660,000 loan 24 month tenor 30 10-kWh systems financed 300 lives impacted $72,825 in energy cost savings/yr 42,600 kg CO2 avoided/yr

37. SUPPLIER $100,000 loan 1-year tenor 6,000 solar lights financed 30,000 lives impacted $12,000 in energy cost savings/yr 7,500 kg CO2 avoided/yr

38. $12.5m lending portfolio by 2015 Q4 $20m $18m $16m $14m $12m $10m $8m $6m $4m $2m $0m Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2012 2013 2014 2015 2016 $50k funded $0.5m Solar Notes I Closed $0.5m Angel Round Closed $12.5m funded $2m Series A Closed $1.2m Solar Notes II Closed $20m funded, profitable

40. Customer Segments DISTRIBUTORS INSTALLERS MICRO-GRID COMPANIES COMMERCIAL SUPPLIERS 2013 $360k (example)

41. Customer Segments DISTRIBUTORS INSTALLERS MICRO-GRID COMPANIES COMMERCIAL SUPPLIERS 2013 $360k 2014 $1.4m (example)

42. Customer Segments DISTRIBUTORS INSTALLERS MICRO-GRID COMPANIES COMMERCIAL SUPPLIERS 2013 $360k 2014 $1.4m 2015 $12.5m (example)

43. Customer Segments DISTRIBUTORS INSTALLERS MICRO-GRID & COMMERCIAL SUPPLIERS 2013 $360k 2014 $1.4m 2015 $12.5m (example)

44. Customer Segments DISTRIBUTORS INSTALLERS MICRO-GRID & COMMERCIAL SUPPLIERS 2017 $50m 2013 $360k 2014 $1.4m 2015 $12.5m (example)

45. Investor Segments UNACCREDITED INVESTORS (crowdfunding) ANGEL INVESTORS / HNIs IMPACT INVESTMENT GROUPS / FAMILY FUNDS / FOUNDATIONS GOVERNMENT / DFIs CAPITAL MKTs / PENSION FUNDS / ENDOWMENTS / SOVEREIGN WEALTH FUNDS 2013 $360k

46. Investor Segments UNACCREDITED INVESTORS (crowdfunding) ANGEL INVESTORS / HNIs IMPACT INVESTMENT GROUPS / FAMILY FUNDS / FOUNDATIONS GOVERNMENT / DFIs CAPITAL MKTs / PENSION FUNDS / ENDOWMENTS / SOVEREIGN WEALTH FUNDS 2013 $360k 2014 $1.5m

47. Investor Segments UNACCREDITED INVESTORS (crowdfunding) ANGEL INVESTORS / HNIs IMPACT INVESTMENT GROUPS / FAMILY FUNDS / FOUNDATIONS GOVERNMENT / DFIs CAPITAL MKTs / PENSION FUNDS / ENDOWMENTS / SOVEREIGN WEALTH FUNDS 2013 $360k 2014 $1.5m 2015 $15m

48. Investor Segments UNACCREDITED INVESTORS (crowdfunding) ANGEL INVESTORS / HNIs IMPACT INVESTMENT GROUPS / FAMILY FUNDS / FOUNDATIONS GOVERNMENT / DFIs CAPITAL MKTs / PENSION FUNDS / ENDOWMENTS / SOVEREIGN WEALTH FUNDS 2013 $360k 2014 $1.5m 2015 $15m 2017 $100m :(

49. Geographies KENYA 2013 TANZANIA UGANDA ZAMBIA ASIA

50. Geographies 2013 2014 KENYA TANZANIA UGANDA ZAMBIA ASIA

51. Geographies 2013 2014 2015 KENYA TANZANIA UGANDA ZAMBIA ASIA

52. Geographies 2013 2014 2015 2017 KENYA TANZANIA UGANDA ZAMBIA ASIA

53. Financing Types Inventory 2013 Term Construction Project

54. Financing Types Inventory 2013 2014 Term Construction Project

55. Financing Types Inventory 2013 2014 2015 Term Construction Project

56. Financing Types Inventory 2013 2014 2015 2017 Term Construction Project

58. Solar Empowerment Fund ?% ?yr DEBT $?M SunFunder

59. Solar Empowerment Fund ?% ?yr SENIOR DEBT (protected by first loss layer) ?% ?yr JUNIOR DEBT $?M ?% ?yr SENIOR DEBT (protected by first loss layer) ?% ?yr JUNIOR DEBT $?M ?% ?yr DEBT $?M SunFunder

60. Solar Empowerment Fund ?% ?yr SENIOR DEBT (protected by first loss layer) ?% ?yr JUNIOR DEBT $?M ?% ?yr SENIOR DEBT (protected by first loss layer) ?% ?yr JUNIOR DEBT $?M ?% ?yr DEBT $?M ?% ?yr SENIOR DEBT ?% ?yr JUNIOR DEBT $?M SunFunder ?% ?yr DEBT $?M

61. SUNFUNDER TOTAL PORTFOLIO FY12-To Date $1.75M total across 15 customers and 39 solar project loans Installer $?? 35.22% of portfolio $?? avg loan size ??% avg interest rate C&I $?? 0% of portfolio $?? avg loan size ??% avg interest rate Supplier $?? 14.1% of portfolio $?? avg loan size ??% avg interest rate Distributors $?? 49% of portfolio $?? avg loan size ??% avg interest rate Micro-Grid $?? 1.7% of portfolio $?? avg loan size ??% avg interest rate Kenya $?? 42.4% of portfolio $?? avg loan size ??% avg interest rate Tanzania $?? 19.8% of portfolio $??avg loan size ??% avg interest rate Uganda $?? 33.2% of portfolio $?? avg loan size ??% avg interest rate Asia $?? 1.9% of portfolio $?? avg loan size ??% avg interest rate Inventory $?? 57.7% of portfolio $?? avg loan size ??% avg interest rate Construction $?? 0% of portfolio $?? avg loan size ??% avg interest rate Term $?? 42.27% of portfolio $?? avg loan size ??% avg interest rate DIVERSIFICATION 15 customers 5 customer segments 5 geographies 3 loan products Zambia $?? 2.7% of portfolio $?? avg loan size ??% avg interest rate IMPACT 228k ppl impacted 3.3M kg CO2 avoided annually $2.8M Energy cost savings annually 12 Active Customers 12.4 Avg Loan Term (mo.) 0% Portfolio At Risk - 14 days 0% Portfolio At Risk - 30 days 0% Portfolio Watch List $1.3m Outstanding Balance PORTFOLIO AT RISK OVERVIEW

63. Aerial Photography

64. Sameer Halai Chief Design Officer @sameerhalai @sunfunder #sunfunder #WIADseattle #WIADsea15 SunFunder Bringing off-grid Solar to Emerging Markets

SunFunder World IA Day 2015 Seattle

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