This disclaimer serves to ensure full transparency of Econergy’s operating projects’ megawatt (MW) hours generated and CO₂ equivalent emissions avoided. Below are definitions of (1) Cumulative, (2) Clean Energy and (3) CO₂e emissions avoided, followed by an explanation of the steps that Econergy employs to calculate these figures.

Clean Energy Generated (MWh) Cumulative: 1,578,947
CO₂e Emissions Avoided (MtCO₂e) Cumulative: 872,701

Cumulative
Econergy defines “cumulative” as the time since Econergy-owned assets have been in operation and from the time since Econergy has
been an owner of those assets. For example, the current figure includes Corani (Bolivia), which Econergy purchased in February
2007. These figures reflect the accounting treatment used for each project; i.e., if the project is consolidated on Econergy’s balance
sheet, the gross generation and emissions avoided will be used. Otherwise net figures will be used.

Clean Energy
Econergy defines “clean energy” as energy that is generated from resources that are unlimited, rapidly replenished or naturally
renewable, such as wind, water, sun, wave, biomass and refuse.

CO₂ Equivalent Emissions Avoided (MtCO₂e)
Econergy calculates the avoided MtCO₂e (metric tons carbon dioxide equivalent) emissions based on a weighted average of country,
region and/or project-specific carbon equivalent emission factors applied to cumulative generation. The phrase “MtCO₂e emissions
avoided” does NOT imply verified or certified emissions reductions (VERs or CERs) under the UNFCC Clean Development Mechanism
(CDM) or any other verified emission reduction (VER) program. Rather, this number represents the number of CO₂ equivalent
emissions that would have occurred if the projects were not using clean energy resources.

Updating figures
Energy generation and subsequent MtCO₂e avoided figures are reported monthly. Ticker updates are made on an hourly basis based on capacity factor to calculate an average hourly figure of energy generation at each Econergy-owned facility. At commencement of each month cumulative actual generation is updated and new average hourly incremental increase is entered to reflect operational results as accurately as possible.