INDONESIA IMPACT INVESTMENT 100 MEGAWATT SOLAR GRID POWER 2,000 JOBS 10,000 SOCIAL HOUSES + 10 MW MINI GRID CLIMATE POLICY PROJECT »PEOPLESHOME«

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1 IMPACT INVESTMENT CLIMATE POLICY PROJECT»PEOPLESHOME«IMPACT INVESTMENT 2,000 JOBS 10,000 SOCIAL HOUSES + 10 MW MINI GRID based on 100 MEGAWATT SOLAR GRID POWER

2 ULRICH KRETZSCHMAR The issue of environment has never been more important than today. PEOPLESHOME Impact Investments link the renewable energy generation with the enhancement of infrastructure in emerging markets. Ulrich Kretzschmar, 2019 Ulrich Kretzschmar, Founder PEOPLESHOME & ASSOCIATES Initiating of Impact Investments Office Switzerland: PEOPLESHOME & Asssociates Niederdorfstrasse 67 CH Zurich Phone: CH +41 / Mail: info@peoples-home.org 2

3 THE BUSINESS Indonesia has a large scale of Solar yields with a moderate location characteristics and perform secure energy generation. The investment scheme is based on the provision of international equity (15.5%). An Industrial and Commercial Bank could be provide a loan of up to 1,301 million for 100 Megawatt Assuming this loan financing the equity/loan ratio would be at 1 : 5.6 The project has a stable cash flow which is guaranteed by the national government (FiT/PPA calculation is at IDR/KWh) and has a strong value of salebility and is projected for 20 years (Dividends Guarantee 49%). Programmatic carbon income is no part of the financial projections. It is estimated up to 3.4% of the investment cost throughout the entire operating period. An infrastructure re-investment option out of energy and new housing revenues is integrated in the height of 4.81 Billion. Resources Operating Income Energy 8,921,649,489 CM I / OIBDA Units SOCIAL HOUSES Invest 4,803,720,587 7,000 Turnover Rental ,487,176 5% = EPC Final Pay / FAC (during 4 months) MAZURA & PARTNER pre work Re-Investment Equity out of 20 Years Profit International Investment Contents PROJECT PARTICIPANTS 4 ESG IMPACT 5 CRC RISKS 6 FINANCIAL PROJECTION 7 IMPACT PROJECTION (option) 11 Indonesia - Capital Sources Industrial Bank , , , , , million L O A N E Q U I T Y 3

4 Project Developer NAZURA & PARTNER Lead Investor Family Office Country Investor National Institution or Entity let the Sun/Wind work with you Prime Contractor World Technology Leader Project Initiator PEOPLESHOME & Associates Operator National Company Power Purchaser National Electricity Provider Rent to Land Owner Local Municipality Private Knowledge Transfer International University Collaboration 4

5 ESG IMPACT & DIVIDENDS ENVIRONMENT - SOCIAL - GOVERNANCE 2,000 Jobs in Project ESG IMPACT 122,000 tons Pollution Prevention/Year 240 Secured Employment Months direct - indirect - induced COMMUNAL ADDED VALUE Education Local Economy Income Generating Activities TAX Energy Security Years Land Conversion (sqm x 100) - monthly Workers Purchase Power ESG IMPACT New Households with Energy 107, ,581 3,871,081 Indonesia Invest + Re-Invest 6,429,676, % Option: Re-Invest from Profits 4,808,096,063 External Capital Private Equity 1,300,793, ,786,351 3,500,000 1% Stake Indonesia MW Solar - Book Profits ROI (20 years) 9.8 % Net Present Value 4,303,315,914 Profitability Index Price per installed Kilowatt ,511 Operating & Maintanance 1% / year 13,648,624 IRR (20 years) % DSCR ,000,000 2,500,000 2,000,000 1,500,000 1,000, , Years 0 Years Tax Free million Dividends Claim in 20 Years annually Dividends Guarantee 1,207,100 x 1,000 IDR 5

6 CRC RISKS & INVESTORS RELATION COMMERCIAL RISK RETURN RISK COMMON RISK Credit & Finance Organization & Strategy Policy & Regulatory Contract & Operational EPC Performance Bond Technology & Installation Currency & Costs Government Guarantee Profit & Revenues Market & Politics Insurance Legal & Advocacy R O E N P V I R R 22.3% 4,303M IDR 17.6% 6

7 FINANCIAL PROJECTION S U M M A R Y Indonesia Solar Village Houses á 50 sqm + 70 kwh for free each month - Total Power 110 MW S :2920 I Volumes 1 USD = 14, IDR Houses (re-investment) 10, sqm from Year 3 F 0.2 Tourism Chalets (re-investment) 1, sqm - from Year 3 Renewable Energy 100 / 10 MW Solar Power + Off Grid Energy Served Households 222,581 (á 70 Kwh/m) (187 GWh/Year - Gain 1,700) Village Land 875 ha /sqm Land Surface - Solar Power Park 200 ha 0.00 /sqm II Use of Capital 6,429,676,184 Price / KW Std. - Premium - IDC Technology & Production Machinery 1,585,831,443 IDR Land 119,796,950 IDR * Construction Material Houses 1,745,612,702 IDR 30% of the constructed Houses sold* * Labour Cost 1,677,157,302 IDR 1936 IDR per Month per Worker Infrastructure + Labour Cost 855,692,501 IDR Management + Fees & IDC 139,760,786 IDR incl. pre-costs Qualification Budget 0 IDR Social Village Package 305,824,500 IDR III Capital Part ,551,645,856 Projected Equity 10% shares actual MAZURA & PARTNER pre-costs 4,375,476 IDR 15.0% 5 Years 0.3% National Loans 0 IDR 0.0% International Loans (IR ~4.5%) 1,300,793,770 IDR 11 Years 86.6% National Grants 0 IDR 0.0% International Grants 0 IDR 0.0% National Investments 0 IDR 15.0% 8,260, % International Investments 246,476,611 IDR 70.0% 38,547, % Co-/Interims Investment 0 IDR Dividends/Year 0.0% 100.0% 102.4% IV Social Impact Jobs 2,000 Annually Rent (21.88 IDR/sqm) 80,965,970 IDR 30% of the constructed Houses sold Purchase Power per Year 3,871,081 IDR per month V Common Numbers Houses / Year (construction) 500 Project Period 20 years House Sale Price 187,416 IDR 25% Profit, including House Plot 350 sqm each Tax to pay per Year 89,149,249 IDR Average (25% tax rate) Project Locations Social Housing 10 spread in the Country Total Projected Carbon Credits 53,308,823 IDR extra Income (not in the Finance Scheme) Power Purchase Agreement 2.48 IDR per Kwh (break even 1.93/ 1.15 ) - Indonesia Yearly FiT/PPA Progression 0.00 % Electricity Market Price KWh 1, IDR 2019 Electricity Price Inflation 7.00 % per Year Indonesia Surplus 2,586,402,378 IDR (20 Years) - Net Income Operator 13,648,624 IDR per Year 1. Exit 2020 VI R-O-E + Pre Costs Feasibility Study 4,010,853 IDR Working Capital 5,031,797 IDR 3,321,660,508 Stuttgarter Mod R-O-E (NPM 51.5%), ROI 9.8% 22.3 % 4,303,315,914 NPV C 2.9 7

8 FINANCIAL PROJECTION 2,500,000,000 2,000,000,000 1,500,000,000 1,000,000, ,000,000 Year Billion 150,000, ,000,000 50,000,000 IRR 17.58% 0 300,000, ,000, ,000, ,000, ,000,000 50,000,000 Indonesia 100 MW - Solar Cash & Dividends SPV Indonesia Ending Cash (cumulated) 1. Construction Year Ħ Year Loan End PayBack Ħ Private Equity & Re-Investment IRR 17.58% Net Cash, Annually Dividends if no Re-Invest 120,710, EQ Million 15.5 % Equity Re-Investment Plan 100% 50% 00% -50% Operator (O&M) Indonesia Budget 273 Million 20,000,000 15,000,000 10,000,000 5,000,000 0 Operating increase per Year 1% Return on Equity (ROE) SPV Indonesia ROE ~ 22.3% Equity hurdle Year 4 350,000, ,000, ,000, ,000, ,000, ,000,000 50,000,000 0 Tax 25% Operating Year 1-20 Year 1-21 SPV Indonesia Net Income 1. Construction Year 1-10 Year KEY NUMBERS : MW Solar 1, Investment + Re-Investment 6,429,676,184 injected Equity 246,476,611 Loan 1,305,169,246 Supplier Final Payment (revenues) 74,309,741 Sub-payment 0 Global Interest Rate 4.5 % Grants 0 R-O-E 20 years after tax 22.3 % R-O-I 20 years after tax 9.8 % NPV 20 years before tax (DR 4%) 4,303,315,914 Company Value (Stuttgarter Model) 3,321,660,508 Guaranteed Dividends 48.97% 120,710,840 Pay Back Period 4 Years PPA /KWh 17 $cent FiT/PPA Rise Anually 0.0 % 1% Profit Ø per Year 2,547,121 1 $-cent Income PPA/FiT (20 Years) 462,910,776 Off-taker Power Break Even Year Tax Exemption 0 Years Internal Rate of Return % Nat-Captital : Int'l.-Capital Quote 0 : 1 Equity : Loan Quote RE 1 : : 5.6 8

9 FINANCIAL PROJECTION FINANCIAL ANALYSIS MODEL ANALYST'S NAME NAME OF COMPANY Dr. Glenn L. Stevens - Indonesia Solar Village Houses á 50 sqm + 70 kwh for free each month - Total Power 110 MW FIRST CALENDAR YEAR OF DATA 2019 NUMBER OF YEARS OF DATA 5 Equity 246,476,611 Perusahaan Listrik Negara INCOME STATEMENT Start Year Year 1 Year 2 Year 3 Year 4 Sales Revenue 0 421,504, ,661, ,229, ,318,287 Less: Cost of Goods Sold ,924,072 27,738,757 29,680,470 Gross Profits 0 421,504, ,736, ,490, ,637,818 Less: Operating Expenses: Operating Expense 0 12,397,182 12,521,154 12,646,365 12,772,817 General / Admin. Exp Lease Expense Depreciation Expense 31,768,548 62,266,355 61,619,066 62,968,062 64,525,966 Total Operating Expenses 31,768,548 74,663,537 74,140,220 75,614,428 77,298,783 Operating Profits (31,768,548) 346,840, ,596, ,876, ,339,035 Less: Interest Expense 37,528,181 58,535,720 53,772,152 48,794,223 43,592,288 Net Profits Before Taxes (69,296,729) 288,304, ,824, ,082, ,746,747 Less: Taxes 0 54,752,051 75,456,154 77,020,529 78,686,687 Net Profit After Taxes (69,296,729) 233,552, ,368, ,061, ,060,060 Less: Pref. Stock Divds Earnings available for Common Stockholders 233,552, ,368, ,061, ,060,060 BALANCE SHEET Current Assets: Cash 0 114,777, ,100, ,137, ,735,967 Marketable Securities Accounts Receivable Inventories Total Current Assets 0 114,777, ,100, ,137, ,735,967 Gross Fixed Assets (at cost): Land & Buildings Machinery and Equipment 1,556,658,868 1,494,392,513 1,524,941,719 1,560,493,328 1,601,279,015 Furniture & Fixtures Vehicles Other (Inc. Fin. Leases) Total Gross Fixed Assets 1,556,658,868 1,494,392,513 1,524,941,719 1,560,493,328 1,601,279,015 Less: Accumulated Depreciation Net Fixed Assets 1,556,658,868 1,494,392,513 1,524,941,719 1,560,493,328 1,601,279,015 Other Assets Total Assets 1,556,658,868 1,609,169,849 1,724,042,583 1,838,630,514 1,953,014,983 Current Liabilities: Accounts Payable Notes Payable Accruals Taxes Payable Other Current Liabilities Total Current Liabilities L / T Debt (Inc. Financial Leases) 1,379,478,986 1,198,437,086 1,086,941, ,467, ,792,112 Total Liabilities 1,379,478,986 1,198,437,086 1,086,941, ,467, ,792,112 Preferred Stock Common Stock!! 177,179, ,732, ,101, ,162,811 1,104,222,871 Paid-In Capital In Excess of Par Retained Earnings Total Stockholders' Equity 177,179, ,732, ,101, ,162,811 1,104,222,871 Total Liabs. & Stockholders' Equity 1,556,658,868 1,609,169,849 1,724,042,583 1,838,630,514 1,953,014,983 9

10 FINANCIAL PROJECTION 100 MW Indonesia Start Year Year 1 Year 2 Year 3 Year 4 Number of Common Shares End-of-Year Stock Price RATIO ANALYSIS Current Ratio no curr. Liabi. no curr. Liabi. no curr. Liabi. no curr. Liabi. no curr. Liabi. Quick Ratio no curr. Liabi. no curr. Liabi. no curr. Liabi. no curr. Liabi. no curr. Liabi. Inventory Turnover no Inventories no Inventories no Inventories no Inventories no Inventories Average Collection Period Fixed Asset Turnover Total Asset Turnover Debt Ratio Debt-to-Equity Times Interest Earned Gross Profit Margin % 94.31% 93.97% 93.62% Operating Profit Margin 82.29% 78.04% 77.54% 77.01% Net Profit Margin 55.41% 49.68% 50.21% 50.73% Return on Total Assets (ROA) 14.51% 13.13% 12.57% 12.09% Return on Equity (ROE) 94.76% 91.84% 93.75% 95.77% Earnings Per Share 2,335,529 2,263,685 2,310,616 2,360,601 IPI Indonesia - 35,032,932 33,955,269 34,659,238 35,409,009 Price/Earnings Ratio DUPONT ANALYSIS Net Profit AT/Sales 55.41% 49.68% 50.21% 50.73% Sales/Total Assets 0.00% 26.19% 26.43% 25.03% 23.83% ROA 14.51% 13.13% 12.57% 12.09% Net Profit AT/Total Assets 0.00% 14.51% 13.13% 12.57% 12.09% Total Assets/Stockholders. Equity % % % % % ROE 0.00% 56.86% 35.53% 26.62% 21.38% STATEMENT OF CASH FLOWS CASH FLOW FROM OPERATING ACTIVITIES Net Profit after Taxes 233,552, ,368, ,061, ,060,060 Depreciation 62,266,355 61,619,066 62,968,062 64,525,966 Decrease in Accts. Receiv Decrease in Inventories Decrease in Other Assets Increase in Accounts Pay Increase in Accruals Increase in Taxes Payable Increase in Other Cur. Lia Cash Flow from Oper. Act. 295,819, ,987, ,029, ,586,026 CASH FLOW FROM INVESTMENT ACTIVITIES Increase in Gross Fixed Assets 62,266,355 (30,549,205) (35,551,609) (40,785,688) Cash Flow from Investments 62,266,355 (30,549,205) (35,551,609) (40,785,688) CASH FLOW FROM FINANCING ACTIVITIES Increase in Notes Payable Increase in Long-Term Debt (181,041,900) (111,495,727) (116,473,656) (121,675,591) Changes in Stockholders' Equity 233,552, ,368, ,061, ,060,060 Preferred Dividends Paid Common Dividends Paid Cash Flow from Financing Activities 52,510, ,872, ,587, ,384,469 Net Incr. in Cash / Mark. Securities 410,596, ,311, ,065, ,184,808 10

11 IMPACT PROJECTION Indonesia Solar Village Houses á 50 sqm + 70 kwh for free each month - Total Power 110 MW Common Data Lead Investors Rank 6-71 International Impact Investor 1 US$ = PH = PEOPLESHOME PEOPLESHOME Shares Country Representative Simon Silalahi Generated after World Bank Criteria. Project Enterprise New SPV (Company) New Investment Country Ranking Resource R-O-I 9.8% - Local Data not finally verified Financing in Place -- Project Start / Re-Investment Start 2019 / 2021 Facts Project Locations/Communities 10 spread in the Country Solar Houses from Year 3) 10, sq m Houses / Year (construction) 500 Project Period 20 years Tourism Home stay / Chalets 1, sq m Energy Plant plus Solar Roof MW Served Households 222,581 (á 70 Kwh/m per Month) Jobs 2,000 Land Conversion - Power Park ha 0.0 /sq m Village Infrastructure Area ha 14.6 /sq m Projected Carbon Reduction 3,650,731 Tons / 30 Years incl. Roof Indonesia Local Government Effects Annually Tax* Income (rate = 25 %) 89,149,249 (after 0 years exemption) Purchase Power per Year 3,871,081 per month from Year 2021 Local Import Replacements up to 11.1 % in project area Local Exports Value generated up to 18.0 % in project area National Interest 0 International Interest over 15 Years 1,375,103,510 Public Infrastructure Investment 855,692,501 Indonesia Surplus during 20 Years 2,586,402,378 including Tax Income* Local Community Output from Year 3 to 22 Single Community All 10 Communities Construction Material Houses 174,561,270 1,745,612,702 Local Labour Costs 167,715,730 1,677,157,302 Common Buildings Investment 30,582, ,824,500 Roof Renewable Energy Value 14,834, ,343,473 Energy Plant Investment (* excluded) ,585,831,443 Farmers Benefits per Year 2,000 Farmers 3,871,081 Human Capacity Development Budget 0 /Ye 0 * Services Purchased by the Project Company 22,262,728 Local Community Outcome Projection Prompt Sustainable Common PH Boost Local Economy in progress invest success 3.5% % Schooling invest success 5.2% % Water Situation invest success 5.6% % Communal Added Value Chains invest success 6.0% % Knowledge Transfer Services invest success 8.3% % Development Benefits invest success 5.0% % Quality of new Products in progress invest success 2.1% % Change of non Relocating Residents invest success 11.0% % Wastewater Treatment invest success 11.0% % Production of Solid Waste invest success 9.7% % Farmers Health and Safety invest success 10.8% % Local Food Quality invest success 4.5% % 11

12 IMPACT PROJECTION Local Exports Value generated 25% 25% Import Replacements 25% Local Economy 20% 20% 20% 10% 10% 10% 5% 5% 5% 0% 0% 0% -5% -5% -5% 20% Change of non Relocating Residents 20% Water Situation 20% Wastewater Treatment 10% 10% 10% 5% 5% 5% 0% 0% 0% -5% -5% -5% Schooling Quality of new Products Production of Solid Waste 9% 9% 9% 3% 3% 3% -3% -3% -3% Communal Added Value Chains Local Food Quality Farmers Health and Safety 33% 33% 33% 27% 27% 27% 21% 21% 21% 9% 9% 9% 3% 3% 3% -3% -3% -3% Knowledge Transfer Services 20.00% 15.00% 10.00% 5.00%.00% -5.00% 47.00% 43.00% 39.00% 35.00% 31.00% 27.00% 23.00% 19.00% 15.00% 11.00% 7.00% 3.00% -1.00% -5.00% GROWTH CUMULATION 20.00% 15.00% 10.00% 5.00%.00% -5.00% Development Benefits - Local Data not finally verified Indonesia Local Community Common Sustainable 12

13 IMPACT PROJECTION Farmers Health and Safety Production of Solid Waste Wastewater Treatment Local Common Progress Local Food Quality Local Import Replacements Local Exports Value generated Local Economy Schooling Water Situation Change of non Communal Added Relocating Value Chains Quality of new Knowledge Products Transfer Services Development Benefits Common Farmers Health and Safety Production of Solid Waste Wastewater Treatment Local Prompt Impact by PEOPLESHOME Local Food Quality Local Import Replacements Local Exports Value generated Local Economy Schooling Water Situation Change of non Communal Added Relocating Value Chains Quality of new Knowledge Products Transfer Services Development Benefits Prompt Local Common Progress + Local Prompt Impact Production of Solid Waste Local Food Quality Farmers Health and Safety Wastewater Treatment Local Import Replacements Local Exports Value generated Local Economy Schooling Water Situation Change of non Communal Added Relocating Value Chains Quality of new Knowledge Products Transfer Services Development Benefits Prompt Common Local Sustainable Development by PEOPLESHOME Farmers Health and Safety Production of Solid Waste Local Food Quality Wastewater Treatment Local Import Replacements Local Exports Value generated Local Economy Schooling Water Situation Change of non Communal Added Relocating Value Chains Quality of new Knowledge Products Transfer Services Development Benefits Sustainable Local Outcome Projection (Greenhouses - Social Package - Public Infrastructure- Roof Power) Local Import Replacements Local Food Quality Local Exports Value generated Farmers Health and Safety Production of Solid Waste Local Economy Schooling Sustainable Prompt Common Wastewater Treatment Water Situation Change of non Relocating Residents Communal Added Value Chains Quality of new Products Development Benefits Knowledge Transfer Services 13

14 IMPACT PROJECTION 60.00% LOCAL IMPACT GROWTH 60.00% COMMON PROGRESS & SUSTAINABLE IMPACT 50.00% 50.00% 40.00% 40.00% 30.00% 30.00% 20.00% 20.00% 10.00% 10.00% 0.00% 0.00% % % Local Common Progress Local Prompt Impact by PEOPLESHOME Local Sustainable Development by PEOPLESHOME Common Sustainable 14