1. Million Conservation Resource Group, Inc. April 21, 2010 Regional Watershed Supply Project

2. Million Conservation Resource Group Project Team Aaron P. Million Aaron P. Million - Principal James Eddy James Eddy - Partner; Strategy and Planning. Tim Walsh Tim Walsh - Partner; Strategic Partnerships and Development. Consulting Team William A. Hillhouse II William A. Hillhouse II - Partner White and Jankowski, LLP; Water Law Expert, over 30 years of Colorado Water Law experience; Served as attorney for National Water Commission; Currently listed as a Colorado “Super Lawyer” and in The Best Lawyers in America. Steven F. Freudenthal Steven F. Freudenthal - Partner Freudenthal and Bonds, P.C.; Lead counsel in Wyoming, specializing in contracts and policy; Former Attorney General for the State of Wyoming; Former member of the Wyoming House of Representatives. Gordon W. “Jeff” Fassett Gordon W. “Jeff” Fassett - Director of Water Resources, HDR; Development consultant, specializing in engineering and water policy throughout the Colorado River Basin states; Former Wyoming State Engineer. Jeris A. Danielson, Ph.D. Jeris A. Danielson, Ph.D. - Danielson and Associates; Development consultant, specializing in Colorado water issues and engineering; Former Colorado State Engineer and former Director of Colorado Division of Water Resources. Andrew L. Spielman Andrew L. Spielman - Partner Hogan and Hartson, LLP; Attorney specializing in public policy and natural resources law; Former Management Fellow at the U.S. Environmental Protection Agency; Former Director of Colorado Governor Bill Ritter’s natural resources transition team; Nationally recognized lecturer on national resource law, the NEPA Act, and EPA compliance. Mitchell Butler Mitchell Butler - Partner Natural Resource Results; Washington D.C. lobbyist, specializing in environmental concerns and natural resource projects; Formerly Deputy Assistant Secretary, Fish, Wildlife and Parks, U.S. Department of the Interior. Served in the White House as Assistant Director of the Council for Environmental Quality.

3. Contributing Consultants James S. Lochhead James S. Lochhead - Shareholder at Brownstein Hyatt Farber Schreck; Assisted in the developing the legal framework for the project; Widely regarded as a foremost expert on Western Water Law; Former Executive Director of the Colorado Department of Natural Resources. Newly appointed CEO Denver Water D. Larry Anderson D. Larry Anderson - Project Manager of the Lake Powell Pipeline project; Assisted in preliminary engineering and issues related to the Colorado River Compact; Former Director of the Utah Division of Water Resources. HDR HDR – Engineering and project design Boyle Engineering Boyle Engineering – Feasibility studies and preliminary engineering States West Engineering States West Engineering – Routing and preliminary engineering Million Conservation Resource Group Project Team

4. Green River Basin Watershed Provides regional water supply opportunity Provides regional water supply opportunity Green River is a legal tributary of Green River is a legal tributary of the Colorado River Geographic location allows for legal filing Geographic location allows for legal filing and appropriation in Colorado Flaming Gorge part of CRSP benefiting Colorado, Flaming Gorge part of CRSP benefiting Colorado, Wyoming, New Mexico and Utah No Sub-compact call No Sub-compact call

5. 165,000 to 250,000 ac. ft. annual yield 165,000 to 250,000 ac. ft. annual yield $2 – $3 billion project cost $2 – $3 billion project cost Reuse opportunity provides 600k – 800k a.f. of effective yield Reuse opportunity provides 600k – 800k a.f. of effective yield Benefits to Colorado and Wyoming Benefits to Colorado and Wyoming Project Scope

7. Pump stations and pressure reducing/hydro stations

8. Design is based on a 300 psi maximum pressure Design Consideration

9. Existing reservoir (3.8 m.a.f.) Existing reservoir (3.8 m.a.f.) Utilization of existing infrastructure and cleared right-of-way Utilization of existing infrastructure and cleared right-of-way I-80 Federal Energy Corridor I-80 Federal Energy Corridor Department of Interior Water 2025 Policy Objectives Department of Interior Water 2025 Policy Objectives Endangered Species Recovery Program Endangered Species Recovery Program EIS Record of Decision – Feb. 2007 EIS Record of Decision – Feb. 2007 Project Timeline 3 to 5 years

10. Editorial Support Denver Post; Water plan could cool East-West feud; May 13 th, 2007 Denver Post; Water plan could cool East-West feud; May 13 th, 2007 Denver Post; Thirsty cities eye Wyoming water; August 16 th, 2009 Denver Post; Thirsty cities eye Wyoming water; August 16 th, 2009 Pueblo Chieftain; Flaming Gorge; August 17 th, 2009 Pueblo Chieftain; Flaming Gorge; August 17 th, 2009 Deseret News; A Flaming Gorge pipeline?; Joe Bauman, April 13 th, 2009 Deseret News; A Flaming Gorge pipeline?; Joe Bauman, April 13 th, 2009 Political Support Governor Bill Ritter Governor Bill Ritter Gubernatorial Candidate Scott McInnis Gubernatorial Candidate Scott McInnis 4 th Congressional District candidate Cory Gardner 4 th Congressional District candidate Cory GardnerResistance Front Range Water Council Front Range Water Council Colorado River Water Conservation District Colorado River Water Conservation District Select South Metro/Parker Water and Sanitation District Select South Metro/Parker Water and Sanitation DistrictResistance Front Range Water Council Front Range Water Council Colorado River Water District Colorado River Water District South Metro Water District/Parker South Metro Water District/Parker Project Environment

11. Bureau of Reclamation Modeling on the Green River 165,000 ac.ft. water supply contract available to this project and 165,000 ac.ft. water supply contract available to this project and guarantees needs for: - Endangered Species - Recreation - Hydropower Protects projected future State depletions Protects projected future State depletions - Colorado (75,000 + a.f. in Yampa Basin) - Wyoming (267,000 a.f.) - Utah (Lake Powell pipeline) Milestones

12. Milestones Completed Formal request for water supply contract from U.S. Department of Formal request for water supply contract from U.S. Department of Interior, Bureau of Reclamation Water Right Filing, State of Wyoming, December, 2007 Water Right Filing, State of Wyoming, December, 2007 Formal Commencement of EIS/NEPA, September 2008 Formal Commencement of EIS/NEPA, September 2008 Colorado Department of Natural Resources – Colorado Colorado Department of Natural Resources – Colorado Water Conservation Board identified future water supply option Formal agreements with water users Formal agreements with water users Future Permit granted by Wyoming State Engineer Administrative agreement Administrative agreement Draft EIS Draft EIS Record of Decision “ROD” Record of Decision “ROD”

13. Opportunities Regional Storage Regional Storage Regional Infrastructure Regional Infrastructure South Platte Drainage South Platte Drainage Republican River Republican River Arkansas River Drainage West Slope Pressure Arkansas River Drainage West Slope Pressure Wind Power Wind Power Hydro Power Hydro Power New Water New Water

14. ARTICLE IX (a) No state shall deny the right of the United States of America and, subject to the conditions hereinafter contained, no state shall deny the right of another signatory state, any person or entity of any signatory state to acquire rights to the use of water, or to construct or participate in the construction and use of diversion works and storage reservoirs with appurtenant works, canals and conduits in one state for the purpose of diverting, conveying, storing, regulating and releasing water to satisfy the provisions of the Colorado River Compact relating to the obligation of the states of the upper division to make deliveries of water at Lee Ferry, or for the purpose of diverting, conveying, storing or regulating water in an upper signatory state for consumptive use in a lower signatory state, when such use is within the apportionment to such lower state made by this compact. Such rights shall be subject to the rights of water users, in a state in which such reservoir or works are located, to receive and use water, the use of which is within apportionment the apportionment to such state by this compact. ARTICLE IX (a) No state shall deny the right of the United States of America and, subject to the conditions hereinafter contained, no state shall deny the right of another signatory state, any person or entity of any signatory state to acquire rights to the use of water, or to construct or participate in the construction and use of diversion works and storage reservoirs with appurtenant works, canals and conduits in one state for the purpose of diverting, conveying, storing, regulating and releasing water to satisfy the provisions of the Colorado River Compact relating to the obligation of the states of the upper division to make deliveries of water at Lee Ferry, or for the purpose of diverting, conveying, storing or regulating water in an upper signatory state for consumptive use in a lower signatory state, when such use is within the apportionment to such lower state made by this compact. Such rights shall be subject to the rights of water users, in a state in which such reservoir or works are located, to receive and use water, the use of which is within apportionment the apportionment to such state by this compact. Upper Basin Compact