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Mountain Cleantech Sustainability Growth Investing

Presenting the Case of Grünspar:Benefiting from the German Energy Transition Daniel Koppelkamm, CFA November, 2015

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Strategy Overview Sustainability Growth Investing

Growth capital investments in fast growing SME technology leaders, with focus on the D-A-CH region

Active investment management to create value, always board seat representation required, however alignment of interest through majority management stakes

Focus on downside risk protection, investments in companies that have existing revenue streams, are profitable, have proven technologies, and can be exited within 4-6 years

Fund III will be launched in 2016, target size: EUR 125m, closed-end fund structure (Luxembourg SICAV-SIF)

Double Bottom Line Investing – rigorous ESG and Impact Measurement methodology in deal selection and portfolio company management

Clear focus on trends that are set to shape our future: efficiency/ resource recovery, energy industrial automation, precision farming and advanced materials

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Clean Energy

Current Focus Sectors Continuous Assessment of Top Down Focus

▪ Efficiency improvement of fossil energies ▪ Small hydro power ▪ Geothermal energy ▪ Combined heat and power systems ▪ Energy component suppliers

▪ Lightweight materials ▪ Flexible electronics ▪ Sustainable packaging ▪ New surface-treatment ▪ Biological and biochemical substances ▪ Wearable technology/ e-textiles

Advanced Materials

▪ Promising ICT business models ▪ SaaS Applications ▪ (Green) e-commerce ▪ Educational technology

Digital Future Energy Innovation

Automation▪ Industry 4.0 ▪ Internet of things ▪ Logistics/ RFID ▪ Laser Micromachining ▪ Robotics

Industrial AutomationEfficiency / Asset Recovery▪ Energy management solutions ▪ Sustainable buildings ▪ Recycling and waste management ▪ reCommerce ▪ Smart Grid/ Smart Metering

Efficiency/ Resource Recovery

Efficiency / Asset Recovery▪ Precision Farming ▪ Sensors and monitoring ▪ Irrigation automation ▪ Automated fertilization ▪ Soil nutrient analysis

Agriculture Innovation

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Fund II Portfolio Overview Strong Revenue/ EBIT Growth Momentum

▪ Germany’s leading reCommerce platform ▪ Convenient and easy re-selling of used products ▪ Pricing algorithm/ demand prediction for > 7m articles

▪ One of Austria´s leading small hydro solution providers ▪ MCT arranged EUR 13m debt financing for

construction of a new manufacturing facility

▪ One-stop waste mgt. solutions provider to corporates ▪ Operater of own ´dual system´ for waste disposal in G. ▪ Consulting services for waste collection

▪ Provider of cloud-based software and customer retention tools for the utility industry

▪ Distributor of resource/ energy efficiency products EXIT July 2015

▪ Provider of integrated hard- and software for the IoT in precision agriculture

▪ Broad offering of integrated technologies and products

2011 2014

Revenuesx 2,5

2011 2014

EBIT x 2,7

2014 2015

x 5,0 Revenues

2012 2014

x 3,5 Revenues

2014 2015

x 1,3

Revenues

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Finding the Opportunity Utilities Need to Engage Customers with new Business Models

EU Energy Efficiency Directive ! Customers reduce energy consumption

Decentralized energy generation ! Customers produce own energy

Strong competition based on liberalization of energy market ! Customer churn increases

Declining Energy Prices ! Generation & distribution stand alone less attractive

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Providing the Solution From Green E-Commerce to being a Utilities´ Partner

Ele

men

tsC

usto

mer

s

▪ Churn Prediction

▪ Segmentation identification

▪ Customer Insights

Profiling of end customers

B2B (utilities)

▪ WLP ▪ Mobile app

Monthly fees

B2B (utilities)

▪ Energy reports ▪ App: Customer

retention (bonus points)

Per user fees

B2B (utilities)

▪ WLP ▪ Relaunches ▪ Mobile app ▪ Energy reports

Set-up fees

B2B (utilities)

Software as a Service

Product Sales

▪ WLP ▪ gruenspar.de ▪ gruenspar.at ▪ Amazon

Energy efficiency products services

B2B2C +

B2C +

B2B

▪ Prioritized product recommen-dations in campaigns & energy reports

Advertising subsidies

Suppliers

Data Analytics

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Cross Channel End Customer Approach Enable Utilities to Inform, Motivate and Up-sell

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Support in the search for additional debt financing and key personnel

Coordination of B-financing round, Onboarding of KfW

Foundation

Company Development Strong Growth based on Close Cooperation

Quarterly campaigns + energy reports

+ product proposal

100 utilities signed

Introduction of energy reports

Introduction of mobile app

Introduction of Powerfinder

MCT Series B financing: MCT Series A financing

First big voucher campaign with utility

Yello Strom as customer

150 utilities signed

Customer profiling

50 utilities signed

Trade sale to German utility company EWE AG

Transformation into holistic customer engagement- and upselling-platform

Act

iviti

es

MC

T:D

evel

opm

ent o

f G

rüns

par:

2010- 2011

2012- 2013 2014 2015

2016

Recruitment of a COO

Contribution of valu-able network contacts

Introduction of a best practice processes e.g. KPI reporting

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☎ +41 44 783 80 45

Mountain Management S.à r.l. 20, Boulevard Emmanuel Servais L-2535 Luxembourg Luxembourg

Daniel Koppelkamm

dk@mountain-cleantech.ch www.mountain-cleantech.ch

Contact

Mountain ManagementFuhrstrasse 12 8820 Wädenswil/ Zurich Switzerland