1 Solar Update February 28, 2013 Michael E. Finn, CFO

The contract is in the process of being assumed by Constellation Energy Group Decreased sizing by 5% to ensure energy savings measures do not create over production Plans designed in tandem with principals and construction teams 2 Solar Update

Coyote Hills, Zuni Hills and Peoria High School to begin construction April 1 – Elementary schools completed August 2 – High School completed August 30 Cheyenne, Desert Harbor, and Santa Fe to begin construction May 27 – All completed September 27 3 Construction Schedule

AERIAL VIEWS AND MODIFICATIONS 4

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QUESTIONS 17