1. GE Energy Financial Services Policy Options Shaping Private Investments in Clean Tech Kevin Walsh Managing Director, Power & Renewables May 1, 2009

2. 2 / GE Title or job number / 9/20/2015 GE: Energy Financial Services’ strategic alignment Technology Infrastructure NBC Universal GE Capital Energy Infrastructure Energy Financial Services GE Money Treasury Commercial Finance Aviation Financial Services GE Energy Financial Services: Global, long-term growth Essential, long-lived assets Across capital spectrum and energy industry Prudent risk management 25+ Years in Energy Finance; GE’s 100+ Years in Energy $22B Assets $25MM-$1B Deals

3. 3 / GE Title or job number / 9/20/2015 ~4% ~20-25% Renewable assets % of EFS portfolio ’04 ’10 Forecast Accelerated renewable energy investing since 2004 $4B+ invested since 2004 Diverse mix of technologies

4. 4 / GE Title or job number / 9/20/2015 NY: Noble Windpower GE provided capital and 408 wind turbines for 6 NY State wind parks totaling 612 MW constructed, operated and managed by Noble Environmental Power State involvement: 10-year REC contract with NYSERDA awarded under NY RPS program Siting approval and permits from NY DPS, other NYS agencies and local government PSC-driven utility industry restructuring created wholesale power market NY ISO cooperation on interconnection, scheduling Opportunity:

5. 5 / GE Title or job number / 9/20/2015 CA: SunPower Corporation State involvement: Opportunity: EFS partners with manufacturer of high- efficiency solar panels to provide capital for five CA solar projects 5 projects to avoid 8.3B total lbs. of CO2 emissions All 5 sites receive payments from California Solar Initiative … $0.34- $0.39/kWh for 5 years One site received CA Self Generation Incentive payment $2.5/W Government hosts: Lake County jail & wastewater plants; Rancho Water District

6. 6 / GE Title or job number / 9/20/2015 MI: A123Systems Opportunity: State involvement: GE investment in lithium ion battery manufacturer: $70 million and 10% ownership stake A123 batteries implemented in electric vehicles and smart grid storage applications Michigan Economic Development Corporation awarded A123 $100M in refundable tax credits to build lithium ion battery manufacturing plants Growth for A123, economic/employment boost to MI

7. 7 / GE Title or job number / 9/20/2015 States have many levers to attract investment in renewables Renewable Portfolio Standard Streamline permitting/siting process Grid expansion … planning & cost allocation Rate recovery for smart grid and efficiency Predictable incentives with adequate funding Minimize local tax burden - sales/use, property, income Economic development agencies … connect companies to potential sites Training programs to provide skilled workers

8. 8 / GE Title or job number / 9/20/2015 States also have an important role in Federal programs Drive implementation of Federal stimulus programs Quickly channel stimulus funds to existing programs Promote rapid implementation of Federal Grant & Loan Guarantee programs Influential voice on key national policies … GHG regulation, renewables standard, regional grid expansion

9. 9 / GE Title or job number / 9/20/2015 Contact: Kevin Walsh Managing Director, Power and Renewables GE Energy Financial Services 800 Long Ridge Road Stamford, CT 06927 Phone: (203) 961-2144 Email: kevin.walsh2@ge.com www.geenergyfinancialservices.com