能源转型行业报告——2024年4月

April 2024 ATLANTAAUSTINLOS ANGELESMINNEAPOLISNASHVILLENEW YORKSEATTLE Disclaimer This presentation is being furnished by Cascadia Capital, LLC (“Cascadia”) to the recipient and is intended as an outline ofmatters for informational and discussion purposes only. Theinformation contained in this presentation, including any market data and industry information, has been derived entirely from material supplied by public sources, which Cascadia believesto be accurate; however, no independent verification of such material has been made and any estimates made by Cascadia basedonmaterial from such sources are by their natureinherently inexact. Accordingly, Cascadia does not make any representation or warranty, nor is any such representation or warranty implied, as to the accuracy or completeness of theinformation contained herein, and Cascadia is not responsible for any misstatements or omissions in this presentation. Cascadiahas no obligation to update the information containedherein. This presentation may include certain statements, estimates and projections with respect to a company, or industry, includingcertain forward-looking statements. Any such statements,estimates and projections reflect various assumptions, which may or may not prove to be accurate or correct, concerning anticipated results and are subject to significant business,economic and competitive uncertainties and contingencies, all of which are beyond the control of Cascadia. Accordingly, therecan be no assurance that such statements, estimates andprojections will be realized. Such statements, estimates and projections are likely to vary from actual results and those variations may be material. No such statements, estimates orprojections constitute a guarantee, promise, forecast or prediction of the future and Cascadia does not represent or warrantthat any estimates or projections will be achieved. Cascadianeither: (i) accepts responsibility for or makes representations as to the accuracy or completeness of any forward-looking statements, estimates or projections contained in thispresentation, nor (ii) undertakes any obligation to update or revise any forward-looking statements, estimates or projections for any reason after the date of this presentation. All financialdata in this presentation is provided for informational and discussion purposes only. Past performance is not necessarily indicative, or a guarantee, of future results. There can be no assurance that any Cascadia project will achieve comparable results as those presentedherein. The information contained in this presentation is strictly confidential and may not be reproduced, distributed, disclosed ordisseminated, in whole or in part, to any third party without theprior written consent of Cascadia. Cascadia Capital Overview Table of Contents •Cascadia is an independent advisory only investment bank, partnering with clients across the nation todeliver transaction advisory services globally. With this scale and a wide variety of backgrounds andperspectives, we work together as ateam in each deal for the common success of our clientstakeholders Energy Transition Spotlight–Onshoring Landscape •Leveraging deep sub-vertical industry knowledge, a unique process orientation that marriescreativestorytelling, modularity and traditional process rigor, and a long-term partnership approach, weaim todeliver optimal value for our clients. We are not rooted in traditional methods and reliant on a one-size-fits-all methodology. Rather, we create a custom deal strategy designed to leverage your attributesandovercome impediments that, when effectively deployed, drives outcomes outside the norm onvaluation,terms and other qualitative aspects of your transaction Macroeconomic Indicators andIndustry InsightsII M&A and Public Market UpdateIII Executive Overview •Jamie Boyd is a Managing Director and has been an investment banker at Cascadia since 2004. Jamieleads the origination and execution responsibilities for a global client base seeking M&A, capital raise andcomplex corporate finance advice. He founded and leads the firm’s Energy Transition and ClimateTechnology group, in addition to co-founding the firm’s Robotics, Automation & Artificial Intelligenceinvestment banking group. Cascadia Industry TeamOverviewIV •Jamie holds a Bachelor of Commerce (BCom) degree from the Sauder School of Business at theUniversity of British Columbia, a Juris Doctor (JD) degree from Gonzaga University School of Law, wherehe was a Thomas More Scholar, and a Master of Laws (LLM) degree from New York University School ofLaw Alex SmithVice PresidentEnergy Transitionand Climate Tech Jamie BoydManaging DirectorEnergy Transitionand ClimateTech Scott WhitingAssociateEnergy Transitionand Climate Tech ExecutiveSummary •China’s dominance of the global clean energy market, along with geopolitical complexities and supply chainconstraints, has driven the US to onshore its renewable energy production–The energy trans