GREENBACKER RENEWABLE ENERGY COMPANY

PERFORMANCE OVERVIEW

ITD Returns1

7.45%

Current Annual Distribution Yield2

6.56%

Monthly Share Value3

$8.803

Returns4

ClassMonthYTD1 Year3 Year5 Year
P-I0.56%4.10%4.10%6.60%6.81%

Monthly 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%-0.71%0.56%4.10%

ITD Returns1

5.89%

Current Annual Distribution Yield2

6.44%

Monthly Share Value3

$8.630

Returns4

ClassMonthYTD1 Year3 Year
P-A0.55%6.09%6.09%6.94%

Monthly 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%-0.68%0.55%6.09%

ITD Returns1

N/A

Current Annual Distribution Yield2

6.52%

Monthly Share Value3

$8.859

Returns4

ClassMonthYTD1 Year3 Year
P-D0.55%3.94%N/AN/A

Monthly Returns

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2021-0.05%0.55%0.58%0.14%0.53%0.55%0.48%0.53%0.55%-0.62%0.55%3.94%

ITD Returns1

N/A

Current Annual Distribution Yield2

6.50%

Monthly Share Value3

$8.894

Returns4

ClassMonthYTD1 Year3 Year
P-T0.48%3.82%N/AN/A

Monthly Returns

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2021-0.26%0.47%0.51%0.14%0.46%0.47%0.88%0.46%0.47%-0.85%0.48%3.82%

ITD Returns1

N/A

Current Annual Distribution Yield2

6.53%

Monthly Share Value3

$8.852

Returns4

ClassMonthYTD1 Year3 Year
P-S0.52%3.98%N/AN/A

Monthly Returns

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2021-0.47%0.52%0.55%0.39%0.50%0.52%0.27%0.50%0.52%-0.84%0.52%3.98%

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 September 30, 2021, 100% of distributions were funded from a return of principal. 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 January 3, 2022. 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 9/30/21

$1.74 B

GROSS INVESTMENT VALUE*

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

VP, INVESTMENTS

NEERAV JASHNANI

VP, INVESTMENTS

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 | EXECUTIVE COMMITTEE

DELLA XU

ASSOCIATE, INVESTMENTS

MANDY YANG

ASSOCIATE, INVESTMENTS

GREC Portfolio Activity

Greenbacker’s 15.3-MW RoxWind asset reaches commercial operation

By GCM | January 5, 2022

Greenbacker’s largest sustainable infrastructure project in Maine powers 4,500 homes and supports local clean energy jobs.

Greenbacker Delivers Third Quarter Results

By GCM | November 15, 2021

The company shows significant quarter-over-quarter and year-over-year growth across revenue, production, and fleet size, as well as expanding land stewardship goals.

Greenbacker acquires 6.6-MWdc pair of community solar projects in Maine

By GCM | November 10, 2021

The projects—Athens Ridge (3.8 MWdc) and Mars Hill (2.8 MWdc)—deepen Greenbacker’s relationship with a renewables developer with a robust pipeline of solar projects and battery energy storage systems.

Greenbacker announces acquisition of 11.3-MWdc solar project in Minnesota

By GCM | November 8, 2021

The Fillinona project, located on four sites across Minnesota, builds out Greenbacker’s operations in a state with robust clean energy goals and illustrates the company’s holistic approach to land management.

Investor Center

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

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.