Going green through solar with zero capex and electricity bill savings Solar offering presentation by CleanMax Solar

| CMES – Company Overview 1  Clean Max Enviro Energy Solutions Pvt Ltd (CMES) is promoted by top industry professional (Kuldeep Jain – Ex Partner, McKinsey & Co) and backed by team of professionals having strong operating experience in renewable energy industry  CMES is India leader in onsite solar power plants o Largest player in B2B onsite solar market o 50 MW of onsite plants for players including GE, Nestle, Tata Motors, Asahi Glass, SKF, Tata Communications, Tata Reality & Infrastructure, HCL, Pune University, Tata Motors, Gabriel, NBC, Manipal Group etc. o Strong customer recall with repeat business from its clients like SKF, Asahi, Tata Group companies, NBC, Manipal Group etc. o Operating power plant in key industrial clusters of the country including Pune, Delhi, Chennai, Bangalore and in process of adding additional cluster such as Ahmedabad, Jaipur, Baroda & Hyderabad o PAN India presence with offices across four locations (Mumbai, Pune, Bangalore & Chennai)  The company has PAN India presence with headquarter in Mumbai and offices in Pune, Bangalore and Chennai  CMES has strong in-house capabilities for project development, Power Purchase Agreement (PPA), project execution and project investor base to generate consistent revenue and superior RoE from each project

| CleanMax Solar is India’s #1 Solar Developer with 28% market share which is nearly twice as much as the next biggest player 2 *Source: Bridge to India Solar Rooftop Solar Map 2016

| Client List 3

| 4 Selected Commissioned Plants Auto component MNC – 1MWp, rooftop, Chennai Auto spares MNC – 948 kWp, rooftop, Bangalore Automotive manufacturer, 2MWp, Pune Top Indian IT company – 1000 kWp, rooftop, Chennai TATA group company – 480 kWp, rooftop, Chennai University in Jaipur, 800 kWp Tata group company – 500 kWp, Ground mount Delhi TATA group company – 1000 kWp, ground + rooftop, Pune Auto component MNC – 350 kw, rooftop, Hosur

| Detailed summary of business proposition 5 Business model: CMES will set up a solar power generating facility at your site, either on rooftops or on unused land. 100% of the capex for the plant and 100% of the lifetime O&M / repairs and maintenance expense is borne by CMES. CMES will bill the offtaker (yourself) on a monthly basis based on solar power generated, at a pre-agreed tariff, under a 25 year Power Purchase Agreement (PPA). Tariffs and Payments: CMES offers lower than grid tariffs throughout the contract period (25 years). Monthly billing (like your grid) based on ‘solar meter’ placed on your rooftop, with pre- payment discount (1%) and delayed payment penalty (2% per month). Capacity/Technology: The solar power plant set up will be a grid interactive power plant (non roof penetrating). A solar generation capacity of 1 MW requires approximately 1,20,000 sq. ft. of area. The energy generation capacity for solar plants is estimated at 16 lakhs kWh/MW/year. The plants can be erected and commissioned within 4-5 months from the date of signing of the PPA. This plant doesn't need expensive energy storage facilities as its output is consumed by the factory/ office upon generation itself. EPC/ O&M Vendors: CMES provides a ‘turnkey’ solution, with all works in its scope. CMES uses only global top tier equipment in all its plants (e.g top tier solar modules from Canadian Solar, JA Solar Renesola, Tata Solar and Inverters from Danfoss, SMA, Delta, Schneider electric, etc).

| How much can I save through on-site solar? 6

| Historical Plant Performance – Performance ratio 7 Actual Performance Ratio / Committed Performance Ratio (%) Performance Ratio is better than committed Performance Ratio for all the operating plants (ensuring better than expected generation for the given radiation level). 109% Data shown is for 10 plants with longest operating history 1. Excludes plants which are not fully commissioned and plants where remote monitoring (SCADA systems) are in process of installations 2. For plant 3, 4 & 6 actual generation v/s estimated generation is used as proxy to PR Ratio as real time PR ratios are not available

| Benefits of Solar Power Cheaper than Grid : CMES’ solar power cheaper than grid power tariffs in all major commercial/industrial markets in India Carbon footprint reduction – Zero carbon emissions from a solar power plant. A 1 MW solar power plant offsets ~1400 tonnes of CO 2 annually, equivalent to taking 450 cars off the road. Ease of implementation : Zero capex, zero opex model, with complete outsourcing of power plant to CMES. Certainty of procurement outcome : You lock in power cost savings through solar power (with no uncertainties from technology selection, subsidy availment, generation risks, lifetime repairs and maintenance costs, etc.) Minimum interference during operation : After installation and commissioning typically, there is a small amount of routine maintenance required only in terms of cleaning the solar modules. The rest of the system typically requires very minimal and infrequent O&M. 8

| Responsibilities and Terms of the Agreement CMES Responsibilities: 1)Through its EPC vendors, CMES procures, installs and commissions solar modules and all other equipment required to generate solar electricity and supply it to the mutually agreed connection point. 2)Operate and maintain the solar plant, and bear all costs associated with these activities. 3)Supply electricity to the mutually agreed offtake point, which will be on the factory rooftop. 4)All regulatory and statutory approvals and permits required to install and operate the plant. 5)Secure subsidy from Government of India for solar power plant; in no case is customer liable or pre-agreed tariff subject to change. 6)Monthly metering and billing based on the terms of the agreements. 7)Disposal of the plant and all related equipment upon the termination of the agreements. Customer Responsibilities: 1)Offtake 100% of the electricity generated at the offtake point on the factory rooftop, and distribute the electricity to its own panels and loads. Customer liable to pay if they cannot offtake electricity generated. 2)Provide unfettered access to CMES, and their affiliates / contractors for operations and maintenance of the solar plant 3)Ensure adequate space for solar equipment to ensure no shading from current or future equipment (e.g. perimeter walls). If shading of panels occurs during contract period (whether or not caused by CMES), any lost generation will be included in bills as deemed generation, as described in this agreement. 4)Cooperate with CMES in obtaining all necessary permissions to commission and operate the plant 5)Provide water for panel cleaning on site (~10 litres per month/ kwp of solar capacity) 9

| CMES Pan India Presence Ensures Highest Client Service Standard & Project Management 10 Mumbai HQ with finance, accounts, legal & business development (west & north) functions Pune HQ for EPC function with COO office & regional office for business development Delhi Regional HQ – north region business development & project management functions Bangalore Regional HQ - south region business development & project management functions Chennai Regional office for project management & business development

| Contact details MUMBAI Sushant Arora – Head of Business Development in West India ; Ritvik Chauhan – Manager ; BANGALORE Andrew Hines – Head of Business Development in South India ; Vikram Reddy – Head of Offsite Solar Sales, South India ; CHENNAI Dinesh Soundappa – City Head, Chennai ; PUNE Ayush Misra – City Head, Pune ; Delhi/ NCR Kapil Maheshwari – Head of Business Development in North India ; Indu Saikia – AGM, Business Development Corporate Accounts – North India ; 11