1. PRIVATE SECTOR CAPITAL
FOR PUBLIC GOOD
GrowSmart
10/23/12
2:30 to 3:45 pm
Charlie Spies, CEI Capital Management LLC
© 2012 CEI Capital Management LLC; Proprietary and Confidential; Not for Reproduction or Redistribution. 1

2. PLACEMENT OVERVIEW
• $674.6 MM in QEIs to date
• 75 Projects Closed in 26 States
• $1.92 billion in total private capital investment
• 11,581 direct jobs preserved or created
• 2,443,686 acres of timberlands committed to
sustainable forestry practices and retained as
working forests
• 72 megawatts of green energy and over
1,195,000 gallons of alternative fuel generated
annually
© 2012 CEI Capital Management LLC; Proprietary and Confidential; Not for Reproduction or Redistribution. 2

3. PLACEMENT OVERVIEW IN MAINE
• $221.3 MM in QEIs to date
• 18 Projects Closed
• $557 million in total private capital
investment
• 1,776 direct jobs preserved or
created
• 1,830,500 acres of timberlands
committed to sustainable forestry
practices and retained as working
forests
© 2012 CEI Capital Management LLC; Proprietary and Confidential; Not for Reproduction or Redistribution. 3

4. OUR MISSION
CCML is a capital management subsidiary of
Coastal Enterprises Inc., whose mission is:
“To help create economically and
environmentally healthy communities
in which all people, especially those
with low incomes, can reach their full
potential.”
© 2012 CEI Capital Management LLC; Proprietary and Confidential; Not for Reproduction or Redistribution. 4

5. WHY NMTC DEALS WORK.…
Project Funding without NMTC With NMTC
• Risk
• Risk Averse
Averse
Loans
~60%
• Priced at
Market
Loans
80-90 %
• Priced
at
Market
22% Rates
Rates • Accepts Risk
NMTC
Funds
• Low-Cost
~ 22% • No
• High Risk repayment
Developer
• Most Developer
•High Risk
Funds
Expensiv Funds •Most
10-20% Expensive
10-20%
e

6. THE NMTC PROCESS
• 100%
Allocation Authorization
for the project
(AA)
Tax Credits from the AA
are sold to Investors • 39%
• 22%.
Low-Cost Funding is
created for Qualified
Projects
•39% tax credit is received by investor over a 7-
year period: 5% + 5% + 5% + 6% + 6% + 6% + 6%

7. A FEW ACTUAL PARTICIPANTS IN THE NMTC INDUSTRY
Ochoco Lumber Co.
Lenders Investors
$26 Billion
CDEs
CDFI Fund $17.2 Billion
placed to date Projects in Low Income
Communities: Community Forest
in Grand Lake Stream; MMG in Presque Isle;
GMRI in Portland;

8. MAINE DEALS
© 2012 CEI Capital Management LLC; Proprietary and Confidential; Not for Reproduction or Redistribution. 8

9. SAMPLE DEAL: MÖLNLYCKE
• Creates up to 85
new jobs, 90% of
which will be hired
locally
• Allows Maine-based subsidiary Rynel Inc.
focused on Maine.
• Prevents building this expansion in Finland,
saving 80 existing positions
• Developed partnership with local
community college to provide job training
for up to 127 individuals
© 2012 CEI Capital Management LLC; Proprietary and Confidential; Not for Reproduction or Redistribution. 9

10. SAMPLE DEAL: MÖLNLYCKE
Pooling Entity
Wells Fargo
Bangor Community Investment
Savings Bank Investment Fund, LLC
NMTC Equity
Holdings, LLC
Leverage Lender (Owns 99.99% of CDE) NMTC Tax Equity Investor
(Owns 100% of IF)
CDE
CCML
CCM Community Managing
MRRA Development XXII LLC Member
(99% owner of BLMHC, (0.01% )
100% owner of BLRDC)
Brunswick Landing
Realty Development
Corporation
(1% owner of BLMHC)
QALICB
Molnlycke
Manufacturing
Ground Lease Agreement Brunswick Landing MHC Lease Agreement
US, LLC
USA, LLC (Molnlycke Health Care US,
(99% owned by MRRA; 1% owned BLRDC) LLC is the guarantor)
© 2012 CEI Capital Management LLC; Proprietary and Confidential; Not for Reproduction or Redistribution. 10

11. Grand Lake Stream Woodlands
$19.8 Million NMTC Financing
Grand Lake Stream Plantation, Maine
Finances 21,949 acres of working forest to facilitate sustainable harvesting, protect ecotourism and provide land for
low-income housing development. Preserves over 100 Jobs
Equity Investors: Bangor Savings Bank & U.S. Bancorp CDC
Lenders: Bangor Savings Bank & Lyme Timber Company
Manager: CEI Capital Management LLC, a subsidiary of Coastal Enterprises, Inc.
(A Maine non-profit corporation)
Partnered with
Northern Forest Center
Downeast Lakes Land Trust
March 26, 2009

12. MAINE STATE NMTC HIGHLIGHTS
• Modeled on Federal Program
• 39% credit over 7 years
• Broader Geographic Footprint
• Federal Census Tracts Qualify
• Municipalities w/ historically high unemployment rates
qualify
• Can be combined with Federal or stand alone
• $10 MM project cap unless creating or retaining 200
jobs, then up to $40 MM
• $250 MM available
• Administered by FAME
© 2012 CEI Capital Management LLC; Proprietary and Confidential; Not for Reproduction or Redistribution. 12

13. CEI CAPITAL MANAGEMENT LLC
2 Portland Fish Pier, Suite 206
Portland, ME 04101-4633
Charles J. Spies III
Managing Director
(207) 535-2932
cjs@ceimaine.org