Greta’s Grand Valley Wind Farm Contributing to Ontario’s Energy Future March, 2012 Greta Energy Inc

Ontario’s Electricity Market at a Glance Green Energy and Green Economy Act (GEA) includes streamlined approval process for wind projects Guaranteed Feed-in Tarrif (FIT) of $135/MWh Clear legislation and responsive government eliminate bureaucratic roadblocks vis-à-vis other markets SOURCE: IESO World-class legislative environment for wind power Anticipated growth in wind energy supply Large & integrated electric system While wind accounted for only 1.9% of total electric output in 2010, the Independent Electricity System Operator anticipates the GEA will accelerate the expansion of wind energy by thousands of megawatts Over 500 MW of additional installed capacity under development Ontario is Canada’s largest producer and consumer of electricity with over 38 GW of installed capacity Large peak consumer demand and integration with hydro supply favor additional wind production

Proposed Wind Farm 19.8 MW Installed capacity in Phase I and II (Up to 40 MW in Phase III) 10 km north of the town of Grand Valley and 21 km northwest of the town of Orangeville Relatively simple terrain with gentle slopes and elevation ranging between m 19.8 MW Installed capacity in Phase I and II (Up to 40 MW in Phase III) 10 km north of the town of Grand Valley and 21 km northwest of the town of Orangeville Relatively simple terrain with gentle slopes and elevation ranging between m

Grand Valley Project Overview Phase 1Phase 3 Capacity Turbine Selection 19.8 MWUp to 40 MW Siemens SWT MW Next steps New land acquisition (signing option to lease agreements) Anticipated Commercial Operation Date: April 5, 2012

Project Status Overview Project RequirementStatus Wind assessment ✓ Completed by Garrad Hassan Noise assessment ✓ Complete and approved by government Turbine layout ✓ Complete and approved by government Turbine selection ✓ Siemens SWT Private Land Leases ✓ Acquired Environmental Impact Assessment ✓ Completed by Environment Business Consultants Inc. Architectural and engineering drawings ✓ Complete Building permit ✓ Acquired Insurance ✓ Acquired 50 MW Grid Connection ✓ Complete Financing procured ✓ Acquired and guaranteed Engineering and constructionExpected 2012 completion Assessment Planning and Approvals Project completion

Project Status Details Option to Lease agreements are fully executed with nine landowners for Phase 1&2 Phase 3 is in the land acquisition stage. Phases 1&2 of the project have obtained Connection Impact Assessment (CIA) approvals for Vestas V90 turbines CIA revisions currently being obtained for Siemens SWT turbines Phase 1 has entered into a Connection Cost Agreement with Hydro One Networks Inc, the Local Distribution Company; Phase 2 will also shortly Two met towers in close proximity to proposed turbine locations collected wind data from All significant environmental approvals and milestones completed for Phase I and II It is anticipated that a significant amount of the environmental studies completed for Phase 1&2 can be applied towards obtaining a Renewable Energy Approval (REA) for Phase 3 Garrad Hassan was contracted to create the optimal turbine layout, taking into account noise setbacks and other constraints Land Control Wind Measurement Grid Connection Environmental Approvals Turbine Layout