CCPC – Coal Plant Repowering with Fuel Cells September 29, 2014

Cost & Performance Review Agenda Introductions Project Basis Deliverables –BFD –Layout –Performance Data –Cost Data Further Work CCPC - PCC Capture using CEPACS | 2

Project basis Retrofit Lingan Generation Station to meet Federal CO2 emissions regulations of 420 kgCO2/MWh Currently 4 units generating 165 MW gross each Units 1 and 2 will be retired by 2019 PCC using CEPACS to be fitted to units 3 and 4 Assumed WFGD installed on units 3 and 4 Units 1 and 2 cooling water, switchyard and transmission capacity reused by retrofit CCPC - PCC Capture using CEPACS | 3

Integration Flue gas from LGS provides CO2 for CEPACS Excess heat from CEPACS provides BFW preheating for LGS Excess process water from CEPACS fed to LGS Net power production from CEPACS increases power output and net efficiency of LGS CCPC - PCC Capture using CEPACS | 4

CEPACS Process CCPC - PCC Capture using CEPACS | 5

Pre-Capture BFD CCPC - PCC Capture using CEPACS | 6

Post Capture BFD CCPC - PCC Capture using CEPACS | 7

Plant Layout CCPC - PCC Capture using CEPACS | 8

CO2 Mass Balance CCPC - PCC Capture using CEPACS | 9 Stream #Stream Name Existing Power Plant Retrofit with CEPACS 1Coal Fed 1 MTPD 2,947 2Power Plant Flue 2 MTPD 3,605 3Total Plant FlueMTPD 7,210 4To CEPACS treatmentMTPD 3,609 5Nat Gas CO 2 EquivalentMTPD 1,485 6CEPACS VentMTPD 862 7CO 2 CapturedMTPD 4,238 8Power Plant Untreated FlueMTPD 3,601 Notes: 1. As coal, two units of equal flow 2. As CO2, two units of equal flow

CO2 Product CCPC - PCC Capture using CEPACS | 10 PressureBar(a)153 Temperature°C50 FlowrateMTPD4,238 Composition HydrogenMol %0.29 NitrogenMol% 0.02 Carbon MonoxideMol%0.02 Carbon DioxideMol%99.66

Plant Performance Summary CCPC - PCC Capture using CEPACS | 11 Existing Power PlantRetrofit with CEPACS GenerationAux LoadGenerationAux Load Units 3 and 4 Gross PowerMW327.5 Auxiliary LoadsMW 17.0 Wet Flue Gas DesulfurizationMW 2.0 Additional power from BFW integrationMW 2.2 Net Power ExportedMW CEPACS Summary Gross DC Power GeneratedMW Auxiliary LoadsMW 27.4 InvertersMW 6.8 Transformer LossesMW 0.5 SW Cooling Water PumpsMW 1.6 Net CEPACS ExportMW Total Net Power GeneratedMW CO2 Intensitykg/MWh

Energy balance Existing Power Plant Retrofit with CEPACS Units 3 and 4 Coal InputMW935 Natural Gas InputNm3/h 31,537 NG Heating ValueMJ/Nm NG Energy InputGJ/hr (HHV) NG Energy InputMW 344 Total Energy InputMW 935 1,278 Net Power OutputMW Plant Net Overall Efficiency% HHV Base Plant Net Heat RatekJ/kWh10,906 10,828 Reduced Steam ExtractionMW 24.0 Heat Rate of CEPACS UnitkJ/kWh 9,260 Heat Rate Combined Power PlantkJ/kWh 10,356 CCPC - PCC Capture using CEPACS | 12

Utility Consumption CCPC - PCC Capture using CEPACS | 13 Existing Power Plant Retrofit with CEPACS Units 3 and 4 Total Site Sea Water Availablem3/h77,106 Quantity used by units 3 and 4m3/h38,55339,695 CEPACs Cooling Water Requiredm3/h 8,558 Total Site Sea Water Usedm3/h38,55348,252 Excess water from CEPACsm3/hr 25.9 Fresh Water Usage in Power Plantm3/hr10.4 Water Dischargem3/hr 15.4

Capital Cost CCPC - PCC Capture using CEPACS | 14 Item Capital Cost Nova Scotia Basis CAD (million) USGC Basis USD (million) CEPACS Utilities & Offsites Direct Field Costs Total Indirect Field Costs Total Field Costs HO Costs - FEED & Detailed Engineering Vendor Reps (Allow) Sub-Total Total Before Contingency Contingency Total Project Cost734513

Owners Costs CCPC - PCC Capture using CEPACS | 15 Owners costsCAD (million) Connections to Surrounding Infrastructure 1.0 Spare Parts Inventory 6.1 Commissioning and Start-up 36.7 Land 0.0 Environmental Permitting 2.0 Plant Mobile Equipment/ Furniture/ Laboratory and Shop Equipment 1.0 Owner's Project Management 2.0 Project Development 2.0 Operator Training 3.0 Insurance and Process Technology License Fees 5.0 TOTAL OWNER’S COSTS 58.8

Total Plant Investment and Opex Total Project CostsCAD (million) Plant Installed Cost (Table 6-1)734 Owners Costs (Table 6-2)58.8 Initial Catalyst & Chemicals0.04 Total793 CCPC - PCC Capture using CEPACS | 16 Annual Operating Cost Nova Scotia Basis CAD (million)USGC Basis USD (million) 26.9*20.5* Note: Excludes costs for 22 plant staff and operators

Acknowledgments EPRI for the use of the PCC Retrofit study on the Lingan generating Station FCE for data on the cost and performance of the CEPACS technology CCPC - PCC Capture using CEPACS | 17

Acknowledgments EPRI for the use of the PCC Retrofit study on the Lingan generating Station FCE for data on the cost and performance of the CEPACS technology CCPC - PCC Capture using CEPACS | 18

Further work to Commercialize CEPACS Market survey to review locations for CEPACS installations. Optimise design for CO 2 product to meet pipeline product specifications. FEL 0 study - cost and performance for PCC retrofit using amine to meet 420 kgCO 2 /MWh. Review lab studies, to make CEPACS suitable for installation and the most likely locations identified in item 1. Optimisation study on integration of CEPACS technology considering for example: CO 2 recirculation; air enrichment FEL 1 study on commercial scale plant to develop a ±30% to ±40% estimate Confirm with FCE size of CEPACS “demonstration unit” Locate suitable host site for demonstration unit Carry out FEL 2 study on host site to develop a ±20% to ±30% estimate, opex utilities and power produced, generate permitting data and develop estimate for FEL 3 study. Secure funding for FEL 3 package Secure site, air and construction permits Execute FEL 3 package to generate ±10% estimate, Proceed with EPC activities CCPC - PCC Capture using CEPACS | 19

Representative Sketches from FCE Overall CEPACS unit Enclosure Cutaway Enclosure Cross Section CCPC - PCC Capture using CEPACS | 20

CEPACS Principles Slide 21 CCPC - PCC Capture using CEPACS | 21

Overall CEPACS Unit CCPC - PCC Capture using CEPACS | 22

Enclosure Cutaway CCPC - PCC Capture using CEPACS | 23 ENCLOSURE 75’ W, 200’ L, 57’ H SECTION 140’W, 272’ L

Enclosure Section CCPC - PCC Capture using CEPACS | 24