GREENBACKER RENEWABLE ENERGY COMPANY
Proxy Voting for Current GREC Investors
Vote to re-elect board members by the May 10th, 2021 shareholder annual meeting
Greenbacker Renewable Energy Company (GREC) is a publicly reporting, non-traded limited liability company that acquires and manages income-generating renewable energy and other energy-related businesses. Our business objective is to generate attractive risk-adjusted returns for our investors, consisting of both current income and long-term capital appreciation. We do this by acquiring and financing the construction and operation of income-generating renewable energy and sustainable development projects, primarily within North America. GREC invests in a diversified portfolio of income-producing renewable energy power facilities that sell long-term electricity contracts to off-takers with high credit quality, such as utilities, municipalities, and corporations.
PERFORMANCE OVERVIEW
As of 3/1/2021
| CLASS A | CLASS C | CLASS I | CLASS PI | |
|---|---|---|---|---|
| CURRENT MONTHLY SHARE VALUE1 | $8.61 | $8.35 | $8.61 | $9.02 |
| ANNUALIZED DISTRIBUTION YIELD2 | 6.44% | 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.
| CLASS A | CLASS C | CLASS I | |
|---|---|---|---|
| 3Q 2020 | 6.59% | 6.65% | 6.59% |
| 2Q 2020 | 6.61% | 6.61% | 6.61% |
| 1Q 2020 | 7.27% | 7.23% | 7.27% |
| 4Q 2019 | 7.21% | 7.18% | 7.21% |
| 3Q 2019 | 7.32% | 7.28% | 7.32% |
| 2Q 2019 | 7.29% | 7.26% | 7.29% |
| 1Q 2019 | 7.25% | 7.23% | 7.23% |
| 4Q 2018 | 6.33% | 6.59% | 6.89% |
| 3Q 2018 | 6.22% | 6.49% | 6.77% |
| 2Q 2018 | 6.20% | 6.47% | 6.75% |
| 1Q 2018 | 6.00% | 6.51% | 6.76% |
| 4Q 2017 | 6.00% | 6.53% | 6.81% |
| 3Q 2017 | 6.00% | 6.27% | 6.53% |
| 2Q 2017 | 6.00% | 6.27% | 6.56% |
| 1Q 2017 | 6.00% | 6.27% | 6.53% |
| 4Q 2016 | 6.00% | 6.27% | 6.53% |
| 3Q 2016 | 6.00% | 6.27% | 6.53% |
| 2Q 2016 | 6.00% | 6.31% | 6.58% |
| 1Q 2016 | 6.00% | 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.
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
EVP, STRUCTURED FINANCE
MEHUL MEHTA
EVP, INVESTING
BAILEY PLUMMER
VP, INVESTMENTS
CHARLES WHEELER
CHIEF INVESTMENT OFFICER & CO-CEO
DELLA XU
INVESTMENTS ANALYST
MANDY YANG
INVESTMENTS ANALYST
Investor Center
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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.