GREENBACKER RENEWABLE ENERGY COMPANY

PERFORMANCE OVERVIEW

ITD Returns1

7.62%

Current Annual Distribution Yield2

6.56%

Monthly Share Value3

$8.803

Total Returns4

ClassMonthYTD1 Year3 Year
P-I0.55%4.27%7.78%5.65%

Monthly Total Returns

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2016----0.46%0.56%0.57%0.58%0.56%0.58%1.49%0.58%-
20170.58%-0.41%0.58%0.56%0.69%0.56%0.57%1.04%0.56%0.57%0.55%0.57%6.60%
20180.57%1.44%0.57%0.55%0.57%0.55%0.57%1.37%0.54%0.56%0,66%0.56%8.84%
20190.56%-0.97%0.57%0.55%0.45%0.55%0.57%0.45%0.55%0.57%2.29%0.56%6.89%
20200.56%0.52%0.33%0.54%1.02%0.54%0.56%1.13%0.54%0.56%2.79%0.54%10.07%
20210.54%-0.17%1.21%0.52%-0.52%0.53%0.55%0.45%0.53%0.55%

ITD Returns1

6.12%

Current Annual Distribution Yield2

6.44%

Monthly Share Value3

$8.630

Total Returns4

ClassMonthYTD1 Year3 Year
P-A0.54%6.24%9.78%N/A

Monthly Total Returns

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2016----0.46%0.56%0.57%0.58%0.56%0.58%0.56%0.58%-
20170.58%0.52%0.46%----------
2018-------0.56%0.56%0.58%-1.37%.0.60%-
20190.60%-1.43%0.61%0.59%0.25%0.59%0.61%0.25%0.59%0.61%2.02%0.60%5.64%
20200.60%0.56%0.25%0.59%0.80%0.54%0.56%0.79%0.54%0.56%2.77%0.54%9.48%
20210.54%0.61%1.12%0.87%-0.35%0.53%0.54%1.15%0.52%0.54%

ITD Returns1

N/A

Current Annual Distribution Yield2

6.52%

Monthly Share Value3

$8.859

Total Returns4

ClassMonthYTD1 Year3 Year
P-D0.55%4.02%N/AN/A

Monthly Total Returns

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2021-0.05%0.55%0.58%0.14%0.53%0.55%0.48%0.53%0.55%

ITD Returns1

N/A

Current Annual Distribution Yield2

6.50%

Monthly Share Value3

$8.894

Total Returns4

ClassMonthYTD1 Year3 Year
P-T0.47%4.21%N/AN/A

Monthly Total Returns

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2021-0.26%0.47%0.51%0.14%0.46%0.47%0.88%0.46%0.47%

ITD Returns1

N/A

Current Annual Distribution Yield2

6.53%

Monthly Share Value3

$8.852

Total Returns4

ClassMonthYTD1 Year3 Year
P-S0.52%4.31%N/AN/A

Monthly Total Returns

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2021-0.47%0.52%0.55%0.39%0.50%0.52%0.27%0.50%0.52%

Past performance is not indicative of future results. Return information is unaudited and subject to change. All returns shown assume reinvestment of distributions and are net of all expenses.

1 Inception to date (“ITD”) returns are annualized consistent with the IPA Practice Guideline 2018.

2 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 entirely 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. For the quarter ending June 30, 2021, over 90% of distributions were funded from a return of principal with the remainder funded from cash flows from operations. By funding distributions with a return of principal to investors, GREC will have less money to invest, which may lower its overall return. For a historical breakdown of the distribution funding sources, please see GREC’s SEC filings.

3 Monthly share value as of November 1, 2021. Monthly Share Value (MSV) based calculations involve significant professional judgment. The calculated value of our assets and liabilities may differ from our actual realizable value or future value, which would affect the MSV as well as any returns derived from MSV, and ultimately the value of your investment. See the Private Placement Memorandum (“PPM”) for additional details related to the calculation of MSV.

4 Returns shown reflect the percentage change in the MSV per share from the beginning of the applicable period, plus the amount of any distribution per share declared in the period. All returns are unaudited, assume the reinvestment of distributions, and are net of all expenses including G&A expenses, management fees, performance participation fees, and share class specific fees, as applicable.

ASSET MAP

PORTFOLIO STATISTICS

AS OF 6/30/21

$1.74 B

GROSS INVESTMENT VALUE¹

2.22 GW

RATED SYSTEM CAPACITY²

337

NUMBER OF ASSETS²

16.2 YEARS

WEIGHTED AVERAGE REMAINING TERM LENGTH

35

STATES, PROVINCES, TERRITORIES AND DISTRICTS

Portfolio metrics are unaudited and subject to change.

¹Gross 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.

²Prior to 3Q20 the Company did not formally track total asset and capacity statistics for projects the Company had contracted to acquire but had not yet closed.

TEAM

ELLE BRUNSDALE

INVESTMENTS ASSOCIATE

MIKE DUDUM

INVESTMENTS ASSOCIATE

JACQUELINE FEDIDA

INVESTMENTS ASSOCIATE

NEERAV JASHNANI

INVESTMENTS ASSOCIATE

DONAL MAHONEY

INVESTMENTS ASSOCIATE

Spencer Mash

SPENCER MASH

EVP, STRUCTURED FINANCE | EXECUTIVE COMMITTEE

Mehul Mehta

MEHUL MEHTA

CHIEF INVESTMENT OFFICER | EXECUTIVE COMMITTEE

BAILEY PLUMMER

VP, INVESTMENTS

BEN TILLAR

VP, INVESTMENTS

Charles Wheeler

CHARLES WHEELER

CO-CEO | BOARD MEMBER | EXECUTIVE COMMITTEE

DELLA XU

INVESTMENTS ANALYST

MANDY YANG

INVESTMENTS ANALYST

GREC Portfolio Activity

Greenbacker Delivers Third Quarter Results

Greenbacker Renewable Energy Company LLC acquires 6.6-MWdc pair of community solar projects in Maine

Greenbacker Renewable Energy Company LLC announces acquisition of 11.3-MWdc solar project in Minnesota

Greenbacker Renewable Energy Company LLC acquires tri-state, 19.5-MWdc operating solar portfolio

Investor Center

Maintenance Forms

Advisory Fee Form
Transfer of Death
Trustee Certification
Public Share - Account Update

For account-related inquiries, contact our Transfer Agent at (833) 404-4104

New investor inquiries: EMAIL

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.