GREENBACKER RENEWABLE ENERGY COMPANY

Proxy Voting for Current GREC Investors

Vote to re-elect board members by the May 10th, 2021 shareholder annual meeting

PERFORMANCE OVERVIEW

As of 3/1/2021

 CLASS ACLASS CCLASS ICLASS PI
CURRENT MONTHLY SHARE VALUE1$8.61$8.35$8.61$9.02
ANNUALIZED DISTRIBUTION YIELD26.44%6.50%6.44%6.41%

A, C, and I share classes closed to new investment on January 31, 2019. PI share class is open to accredited investors through approved investment platforms

1 GREC began calculating a MSV in November 2020 in accordance with MSV valuation guidelines that have been approved by its Board of Directors.

2 Current and past distribution yield is not indicative of future distribution yield. There is no assurance GREC will pay distributions in any particular amount, if at all. Any distributions will be at the discretion of the board of directors. GREC may fund distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, or offering proceeds. In no event, however, shall funds be advanced or borrowed for the purpose of distributions if the amount of such distributions would exceed the accrued and received revenues for the previous four quarters, less paid and accrued operating costs with respect to such revenues and costs shall be made in accordance with generally accepted accounting principles, consistently applied. Please see GREC’s publicly available 10-Q and 10-K filings for a historical breakdown of distributions.

DISTRIBUTION YIELD HISTORY
 CLASS ACLASS CCLASS I
3Q 20206.59%6.65%6.59%
2Q 20206.61%6.61%6.61%
1Q 20207.27%7.23%7.27%
4Q 20197.21%7.18%7.21%
3Q 20197.32%7.28%7.32%
2Q 20197.29%7.26%7.29%
1Q 20197.25%7.23%7.23%
4Q 20186.33%6.59%6.89%
3Q 20186.22%6.49%6.77%
2Q 20186.20%6.47%6.75%
1Q 20186.00%6.51%6.76%
4Q 20176.00%6.53%6.81%
3Q 20176.00%6.27%6.53%
2Q 20176.00%6.27%6.56%
1Q 20176.00%6.27%6.53%
4Q 20166.00%6.27%6.53%
3Q 20166.00%6.27%6.53%
2Q 20166.00%6.31%6.58%
1Q 20166.00%6.30%6.56%

A, C, and I share classes closed to new investment on January 31, 2019.

The distribution yields presented herein have been calculated using revised NAV values to reflect the revisions to NAV as set forth in Note 11 of GREC’s publicly available Q3’20 10-Q. Current and past distribution yield is not indicative of future distribution rates. There is no assurance GREC will pay distributions in any particular amount, if at all. Any distributions will be at the discretion of the board of directors. GREC may fund distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, or offering proceeds. In no event, however, shall funds be advanced or borrowed for the purpose of distributions if the amount of such distributions would exceed the accrued and received revenues for the previous four quarters, less paid and accrued operating costs with respect to such revenues and costs shall be made in accordance with generally accepted accounting principles, consistently applied. Please see GREC’s publicly available 10-Q and 10-K filings for a historical breakdown of distributions.

ASSET MAP

PORTFOLIO STATISTICS

$1.09 B

GROSS INVESTMENT VALUE*

917.3 MW

RATED SYSTEM CAPACITY

235

NUMBER OF ASSETS

17.0 YEARS

WEIGHTED AVERAGE REMAINING TERM LENGTH

29

STATES, PROVINCES, TERRITORIES AND DISTRICTS

Portfolio metrics are estimates and subject to change

*Gross investment value (GIV) reflects the fair market value of our assets and cash as reported on GREC's latest quarterly financial statements, as well as project-level debt related to our projects. GIV amounts are unaudited and subject to change.

TEAM

MIKE DUDUM

INVESTMENTS ASSOCIATE

JACQUELINE FEDIDA

INVESTMENTS ASSOCIATE

DONAL MAHONEY

INVESTMENTS ASSOCIATE

Spencer Mash

SPENCER MASH

EVP, STRUCTURED FINANCE

Mehul Mehta

MEHUL MEHTA

EVP, INVESTING

BAILEY PLUMMER

VP, INVESTMENTS

Charles Wheeler

CHARLES WHEELER

CHIEF INVESTMENT OFFICER & CO-CEO

DELLA XU

INVESTMENTS ANALYST

MANDY YANG

INVESTMENTS ANALYST

GREC Portfolio Activity

Greenbacker Renewable Energy Company LLC Acquires ~10-MWdc Solar Portfolio in Utah

Greenbacker’s First Solar-Plus-Storage Power Facility Enters Commercial Operation, Providing Clean and Continuous Energy in Colorado

Greenbacker Renewable Energy Company LLC and Community Energy Complete Construction of 10 MWdc Colorado Solar Projects Portfolio

Award-Winning 61 MWdc Turquoise Solar Project in Nevada Reaches Commercial Operation

Investor Center

For completed Greenbacker paperwork:

Regular Mail
PO Box 219255
Kansas City, MO 64121-9255

Overnight Mail
430 W 7th St Ste 219255
Kansas City, MO 64105-1407

The shares of limited liability company interests of Greenbacker Renewable Energy Company LLC, a Delaware limited liability company, have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or approved by the Securities and Exchange Commission (the “SEC”) or any state securities agency. This is a private offering made only pursuant to exemptions provided by Section 4(a)(2) of the Securities Act, Rule 506(b) of Regulation D promulgated thereunder and applicable state securities laws. Neither the SEC nor any state agency has passed upon the value of the shares, made any recommendations as to their purchase, approved or disapproved this offering. Any representation to the contrary is a criminal offense.

Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded, limited liability company that acquires and manages income-generating renewable energy projects and other energy-related businesses.