Slide 1. Slide 2. Slide 3. The Visible Hand. Why energy and why now?

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1 Slide 1 The Visible Hand Slide 2 Why energy and why now? Slide 3 Energy development and consumption provides a basis for global economic development

2 Source: Washington Post Source: U.S. Stuck on Stupid Source: New York Times Slide Billion People Do Not Currently Have Access To Electricity. Slide 5 U.S. Gross Domestic Product 1900 $20.7 billion 2014 $17.4 trillion A growth rate of 4% per year Slide 6 Over the next decade, China is planning to move 250 million people from rural areas into cities.

3 Slide 7 Shanghai 1990 Slide 8 Shanghai 2015 Slide 9 The Era Of Cheap Energy Is Over

4 Source: Investopedia Source: EIA, Statista, indexmundi.com Source: EIA, indexmundi.com Slide 10 Slide 11 Coal Proven Reserves World 891 billion tons U.S. 256 billion tons Demand Global U.S. 8 billion tons 1 billion tons Slide 12 Crude Oil Proven Reserves World U.S. Demand 1.6 trillion bbl 36 billion bbl billion bbl billion bbl

5 Source: Bureau of Transportation Statistics, OICA, Huff Post Source: Huff Post Slide 13 Crude Oil Consumption and Industrialization Slide 14 Gasoline Motor Vehicles United States China Global 255 million 154 million 1.1 billion Slide 15 Gasoline OECD International Transport Forum forecast that the number of cars worldwide would reach 2.5 billion by 2050.

6 Source: EIA Source: EIA Source: EIA Slide 16 World Oil Supply/Demand Oil supply 86 Oil demand 84 Q Q Q Q Q Q Q Slide 17 Natural Gas Slide 18 Natural Gas Supply World 6,972 tcf U.S. 338 tcf Demand Global U.S. 112 tcf 26 tcf

7 Source: IEA Source: EIA Slide 19 Opportunities Beyond Fossil Fuels Slide 20 Renewable Wind Currently supplies 2.6% of global electricity Could supply 18% of global electricity by 2050 Slide 21 Renewable Solar Provided less than one half of 1% of U.S. electricity in 2014

8 Slide 22 Future Technologies Geothermal Hydro Electric Nuclear Power Hydrogen Slide 23 Opportunity Global demand is growing faster than supply which creates long term investment opportunities for you! The Era of Cheap Energy is Over. Slide 24 Questions?

9 Slide 25 Footnotes 1) US Gross Domestic Product August size=m&title=&color=c. 1) Plumber, Brad. Here s why 1.2 billion people still don t have access to electricity. Washington Post. 29 May, < 2) Johnson, Ian. China s Great Uprooting: Moving 250 Million Into Cities. New York Times. 15 June, < 3) Heakal, Reem. Economics Basics: Supply and Demand. 4) United States Energy Information Administration. International Energy Outlook. 5) WHERE IS COAL FOUND. Worldcoal.org < 6) World Coal Consumption by Year 7) Central Intelligence Agency. The World Fact Book, Country Comparison ::Crude Oil Proved Reserves 8) Crude Oil (petroleum), Price index Monthly Price - Index Number < 9) World Crude Oil Consumption by Year < 10) Tencer, Daniel Number Of Cars Worldwide Surpasses 1 Billion; Can The World Handle This Many Wheels? Huffington Post. 23 August, ) Lim, Simon. American Pain at the Gas Pump is Self-Inflicted Bloomberg 20 September, < 12) United States Energy Information Administration. International Energy Outlook. < 13) United States Energy Information Administration. International Energy Outlook. What is the volume of natural gas reserves? < 14) United States Energy Information Administration. International Energy Outlook. How much natural gas does the United States have and how long will it last? < 15) How much of the world s electricity supply is generated by wind and who are the leading generators? < 16) SHORT-TERM ENERGY OUTLOOK < Slide 26 Disclosure Cavanal Hill Investment Management, Inc. ("Cavanal Hill") is an SEC registered investment adviser and a wholly-owned subsidiary of BOKF, NA, a wholly-owned subsidiary of BOK Financial Corporation, a financial holding company ("BOKF"). SEC registration does not imply a certain level of skill or training. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. 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