TBLI Group Holdings B.V.

June 2019

Building a Community of ESG & Impact for Over 20 Years

About TBLI Group Holdings B.V.

• TBLI was established in 1998 by Robert Rubinstein, Chairman and Founding Partner. TBLI’s headquarters are based in The Netherlands. In 2015, Julie Muraco joined as CEO and Managing Partner and branded TBLI operations in the U.S.

• TBLI is one of the most established organizations dedicated to the Sustainability & IMPACT investing sector with brand recognition on a global scale.

• The Company is focused on educating, facilitating, advising and transacting global Sustainability and IMPACT business and capital solutions through three divisions:

(1) TBLI Conference™ (2) TBLI Consulting™ (3) TBLI Foundation™

• TBLI has conducted over 35 conference events across 4 continents, and has established nearly 500 global experts dedicated to societal issues across academic, business/finance, science, technology, and sub-industry specialty themes.

• TBLI works with organizations such as, individual UNHW investors, Family Offices, NGO’s, Foundation & Endowments, Corporate & Government Pension Plans, and other asset managers and sector specific companies dedicated to IMPACT.

Company Information

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ABOUT TBLIFor over 20 years, the Triple Bottom Line Investing Group (TBLI) has conducted operations through a proprietary network of Sustainability, Impact, and the Environmental, Social and Governance (ESG) communities. Our firm has created a vertically integrated ecosystem of “education to action” through TBLI CONFERENCE, hosting, public conferences, private events, and investor salons; TBLI CONSULTING provides corporate and capital markets advisory and OCIO services. Educational learning experiences are hosted through TBLI FOUNDATION.

ABOUT TBLI TENTBLI’s Expert Network (TEN) is an independent contract network of global academic, scientific, industry specific, business/finance and technology expert practitioners working with TBLI to create a global matrix of professional teams in order to execute client engagement contracts. TBLI’s 20-year experience working with dynamic regional and local market project teams allows for effective and efficient client engagement project results.

About TBLI Group Holdings B.V.

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CONFERENCE & CONVENING• Conferences conducted on four continents focused on Sustainability, ESG, and IMPACT

Investment, Finance and Industry Themes from developed to emerging markets, including frontier markets

• Private Thought Leadership Forums, Think Tank Salons, and Exclusive Retreats• TBLI Global Expert Network (TEN) of leading independent network connections for

bespoke academic, science, and technology expertise and operational experience

ADVISORY & CONSULTING• Sustainable & Social Capital Strategies – Fund Formation; Portfolio Construction• Public & Private Markets Expertise; Funding & Permanent Capital Strategies• Business Market Intelligence & Forensic Due Diligence• SME Corporate Advisory providing a range of scalable development strategies/services• OCIO Engagements• Investor Relations – Ongoing Monitoring, Communications; Reporting & Compliance• TBLI Global Expert Network (TEN) of global Sustainability & Impact finance experts

dedicated to capital solutions, asset management and direct investments

FOUNDATION• A registered charitable foundation focused on sustainable education and services. Tax

advantaged donations in the UK, USA and Hong Kong. www.tbli.org

About TBLI Group Holdings B.V.TBLI Group Holdings is focused on educating, facilitating, transacting and advising the growth of Global Sustainability allocation and investments

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Management BiographiesRobert Rubinstein

Chairman & Founding Partner

Since 1998, Mr. Rubinstein is the Chairman and Founding Partner of TBLI Group Holdings B.V. He has been leading the Company since inception and has organized over 33 conferences on 4 continents. Mr. Rubinstein focuses on capacity building and convening from public and private conferences and salons, to one on one bespoke industry connections. Mr. Rubinstein is globally sought out as a ”pioneer” and ”industry leader” in the space and is visible in a wide variety of conferences and publications.

Prior to his career in the IMPACT sector, Mr. Rubinstein was an entrepreneur as an owner/publisher in print media.

Julie MuracoCEO & Managing Partner

In 2015, Ms. Muraco partnered with TBLI Group Holdings B.V., conducting business advisory and capital markets consulting from the USA. TBLI Consulting is focused on financial integration and scalability of impact strategies from main-stream and traditional capital and assists with client strategy and corporate formation.

Since 2008, Ms. Muraco has been founder and Managing Partner of Praeditis Group LLC, a capital markets and business advisory working with serial entrepreneurs, family offices, UHNW, and F&E’s seeking direct investments or secondary and alternative investments strategies.

Ms. Muraco has a 25 year financial career on Wall Street including stints at The NASDAQ Stock Market, J.P. Morgan, and Citi. She has executive leadership roles in 2 USA based foundations, including investments. 5

The world's largest Conference on Sustainable Investment for financial professionals

350+ attendees in European Conference and 300+ in Asia and USA Conferences

TBLI VIP Dinners - Private dinners and Thought Leadership Salons with emphasis on Sustainability culture and networking; insight and transaction value sharing

TBLI Investor Salons - High-level, matchmaking tool for investors and projects. Expert network, connecting decision-makers to a global network of Green Finance experts

For 20 years, TBLI CONFERENCE has hosted convenings and events and garners one of the largest international Green Economy Ecosystem Networks. TBLI Conference is the longest-running global forum bringing together investors, asset managers and thought leaders in sustainable finance. TBLI has conducted 35 conferences throughout Europe, North America, Asia and Latin America. TBLI’s past clients include The Carbon Disclosure Project, SWIFT, NYSE Euronext, the European Union and other well known institutional investors.

About TBLI CONFERENCE B.V.

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TBLI CONFERENCE Event Statistics (past)

35 Events on 4 Continents Representing over $50 trillion USD AuM

Topic Examples

Capital FormationCarbon Pledge Climate ChangeESG Data MeasurementGreen Finance Green Technologies (Blockchain/Water)

Pitch Panel Examples

Clean Technology & Green BuildingsConservationEmerging MarketsFood & Farming (Sustainable)Smart CitiesTransport Infrastructure & Mobility

Attendee Statistics

52-58% Investors42-44% Corporate Investment

2- 7% Academia4% NGO/Public Sector

Average Attendance of 250-350 per event

Notable Speakers

Amsterdam - Muni Government – MayorCredit Suisse – President Mitsubishi – Chairman Nasdaq Nordic - PresidentPritzer Foundation – Family ExecutiveUBS - CEO

TBLI CONFERENCE has a 20-year track record of successfullyexecuting corporate and bespoke events across the globe.

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TBLI CONFERENCE Partners (past)

Academic Partners

Corporate Partners

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ROBERT RUBINSTEIN, Chairman & Founding PartnerRobert Rubinstein has been active in ESG, Impact investing, and CorporateSocial Responsibility (CSR) for over 20 years. He has been influential in getting CSR &Sustainability into the mainstream of business and investment strategies and integrated within corporate operations. He has taught at many universities and is a leading international speaker on the subject of CSR and Sustainable Finance. TBLI specializes in triple bottom line investment knowledge, private consulting, and impact events with leading expert influencers and world leaders.

Dr. RIEKI CRINS, Special Events ManagerDr. Rieki Crins, a cultural anthropologist founded the Learning Exchange Foundationin 2009. The foundation aims to help people to help themselves by providingaccessibility to knowledge & vocational training, raising awareness about organicfood and green technology and creating jobs. She obtained her PhD on Gender andSustainability in Bhutan in 2008. Dr. Crins has authored three books on Bhutan and in2015, she set up a culturally authentic and emission free hotel-school in Bhutan forunemployed Bhutanese youth. Dr. Crins has lectured at university’s and institutionsincluding Oxford, University of Amsterdam, Siam Society Bangkok, Free Universityand TBLI among others.

SAMUEL RUBINSTEIN, Conference ManagerSam has been working at TBLI since 2007 and was made TBLI Conference Managerin January 2018. Inspired by Robert’s passion for a sustainable planet, Sam hasassumed operational management of the conferences including speaker rosters. Hefacilitates the events from process logistics through to on-site execution. Besidesmanaging the Conferences, Sam also curates the TBLI Weekly newsletter.

The TBLI CONFERENCE Team

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The TBLI CONFERENCE Network

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Industry ThematicAg-Food, Health, E-Grid, Technology, Water

Climate Change & Risk MitigationConservation, Resource EfficiencyEnvironment

Scientific Community

Academic InstitutionsResearch, Economic Development, Financial Inclusion

Business & Finance:Investment Banking, Capital Formation, Due Diligence, EM

TBLI Expert Network Specialists (TEN) partners with TBLI Conference as thought leaders, speakers and outsourced expertise for TBLI clients.

TBLI CONSULTING works with family offices, asset managers, foundations et.al., advising on Sustainable Capital Strategies and SME operations. Fund and corporateinvestments are offered a range of scalable strategies including business & corporate development, funding, capital and management resources; and ongoing investor relations

About TBLI CONSULTING B.V.

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• Sustainable & Social Capital Strategies – Fund Formation; Portfolio Construction Identify & execute capital development strategies; capital access and corporate investments

• Public & Private Markets Expertise; Funding & Permanent Capital StrategiesIdentify execution strategies and in the public and private markets; proprietary investment platforms; and business models for corporate and capital formation

• Business Market Intelligence & Forensic Due DiligenceConduct industry & market intelligence, due diligence, research analytics, competitive analysis for direct investments, funds and alternative vehicles

• SME Corporate AdvisoryProvide corporate advisory & consult for a wide range of strategies including corporate & business development, capital and management resources scalability, and oversight

• OCIO Advisory Engagements (Outsourced Officer/Advisor)Evaluate & Monitor investments and alternative funds; direct portfolio investment oversight

• Investor Relations – Communications; Reporting & ComplianceOngoing corporate oversight and investor relations; communications & reporting

• TBLI Global Expert Network (TEN) in Advisory & ConsultingDedicated professionals in direct investments, capital solutions, business & banking/finance

The TBLI CONSULTING & ADVISORY

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JULIE MURACO, CEO & Managing PartnerIn 2015, Ms. Muraco partnered with TBLI Group Holdings B.V., conducting business advisory and capital markets consulting. TBLI Consulting is focused on financial integration and scalability of impact strategies from main-stream and traditional capital and assists with client strategy and corporate formation. Since 2008, Ms. Muraco has been founder and Managing Partner of Praeditis Group LLC, a capital markets and business advisory working with serial entrepreneurs, family offices, UHNW, and F&E’s seeking direct investments or secondary and alternative investments strategies. Ms. Muraco has a 25 year financial career on Wall Street including stints at The NASDAQ Stock Market, J.P. Morgan, and Citi. She is Chairman of the Board of Directors of Americans for the Arts, Washington D.C. and Treasurer of the Robert Sterling Clark Foundation, New York, NY. Ms. Muraco sits on the Investment Committee of both organizations.

The TBLI CONSULTING Network

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TBLI Expert Network Specialists (TEN) conducts ongoing engagementsand operations of TBLI Consulting & Advisory working closely with local market clients.

Industry ThematicAg-Food, Health, E-Grid, Technology, Water,

Climate Change & Risk Mitigation Conservation, Resource EfficiencyEnvironment

Scientific Community

Academic InstitutionsResearch, Economic Development, Financial Inclusion

Business & Finance:Investment Banking, Capital Formation, Due Diligence, EM

TBLI Expertise

TBLI GROUP HOLDINGS B.V.

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• TBLI CONFERENCE is the longest running values based global conference and convening business. Networking opportunities include bringing together thoughtleaders, asset managers, investors, and innovative organizations dedicated to public/private sustainable and social finance. TBLI’s events allow for peer-to-peer learning, local economic development, and new business development. Our signature events rotate continents and produced by TBLI CONFERENCE™. Convening is hosted at unique international venues that explore customized content and industry themes.

• TBLI CONSULTING offers clients advisory and consulting for sustainable business models, business formation and corporate development. TBLI CONSULTING works with serial entrepreneurs, UHNW family offices, and corporations onboarding triple bottom line investment strategies, operations and/or investments. TBLI CONSULTING advises on new economic models, allocations, and innovative investments for sustainable and permanent private capital. Past clients include The Carbon Disclosure Project, SWFT, and the European Union.

• TBLI FOUNDATION, the firm’s charitable organization, conducts educational services through convening, retreats, learning journeys and academic partnerships. These boots-on-the-ground experiences help our partners make actively informed social investment decisions. Registered in The Netherlands, TBLI FOUNDATION receives tax advantaged donations from the UK, USA and Hong Kong through SharedImpact, a UK registered donor advised fund. More information on TBLI FOUNDATION can be found at www.tbli.org and https://www.sharedimpact.org/product/44707/TBLI-Foundation.

About TBLI Group Holdings B.V.

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• Quality, Discretion, Integrity: TBLI is dedicated to providing clients with high quality deliverables and conducts its operations within the geographicregulatory framework of the project. TBLI is known for its high integrity, discretion and execution when working for and with our distinguished clients.

• Established relationships: TBLI has expertise and established relationships in the private capital markets and dedicated social exchanges, including industry sector specific bulletin boards and proprietary platforms.

• Independent experts: TBLI has established the largest independent network of experts in ESG and IMPACT with strategy and execution experience. TBLI’s Expert Network can be activated expediently with nearly 500 persons across academia, global thought leaders, industry experts and operators.

• Impact & Main Stream Capital Expertise: TBLI principals approach investment knowledge from the wide spectrum of philanthropic/social capital and traditional mainstream capital relationships and strategies, marrying the TBLI sustainable mission with fiduciary responsibilities and performance.

• Asset Class Knowledge: TBLI is able to source fund managers for liquid/ illiquid IMPACT strategies across asset classes and global relationships.

• Low Cost Solution: TBLI operations and personnel are scaled to client engagement through the use of our independent network and project employees providing a lower cost solution than traditional organizations.

TBLI Expertise and Advantage

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IMPACT Investments: The Market

TBLI GROUP HOLDINGS B.V.

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The Market: Growth of Sustainable Investments

Source: Global Sustainable Investment Review 2018, GSIA, www.gsi-alliance.org1Statistics are as of December 31, 2017, with the exception of Japan which reports out as of March 31, 2018.

The Global Sustainable Investment Review 2018 states that Sustainable Investment Assets reached $30.7 trillion across five major markets,a 2-year increase of 34%.

Proportion of Sustainable Investing Relative to Managed Assets2014-20181

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Global Sustainable Investment Assets 2016-20181

The Market: Growth of Sustainable Investments

Source: Global Sustainable Investment Review 2018, GSIA, www.gsi-alliance.org1Statistics are as of December 31, 2017, with the exception of Japan which reports out as of March 31, 2018.

The Global Sustainable Investment Review 2018 reports that the ratioof sustainable investments to total managed assets grew across all regions except Europe. Over the last two years, since 2016, the largest percent increasescame from Japan, Australia/New Zealand, and Canada.

Proportion of Sustainable Investing Relative to Managed Assets2014-20181

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The Market: Growth of Sustainable Strategies

Source: Global Sustainable Investment Review 2018, GSIA, www.gsi-alliance.org1Statistics are as of December 31, 2017, with the exception of Japan which reports out as of March 31, 2018.

The Global Sustainable Investment Review 2018 shows that the majority ofAllocation strategy adoption continues to be negative/exclusionary screening and ESG integration.

Global Growth of Sustainable Investing Strategies 2016-20181

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The Market: By Geography & Asset Class

Sustainable investment continues to be highly concentrated in the of Euro markets and in North America. Institutional investment activity is highly concentrated in public market equities followed by fixed income.

Source: Global Sustainable Investment Review 2018, GSIA, www.gsi-alliance.org

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Proportion of Global Sustainable Investing Assets

By Region 2018

Proportion of Global Sustainable Investing Assets

By Asset Class 2018

ESG: USA Regional Adoption of ESG Factors

The incorporation of ESG factors regarding investment decisions vary from region to region in the USA.

22Source: 2018 ESG Survey, Callan Associates, 2018, www.callen.com

USA Regional Breakdown of ESG Integration

ESG: USA Institutional Participants Foundations have incorporated ESG factors in their investment decision at a faster rate than other fund types.

Source: 2018 ESG Survey, Callan Associates, 2018, www.callan.com

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2013 2014 2015 2016 2017 2018

Fund Types Incorporating ESG into Investment Decisions

ESG: USA Participant Breakdown by Assets

Source: USSIF Trends 2018 Report, www.ussif.org1 In Billions 24

Money Manager Total Net Assets Incorporating

ESG Criteria1

Institutional Investor Total Percent of Net Assets

Incorporating ESG Criteria

Contact Information

Robert RubinsteinChairman & Founding Partner

TBLI Group Holdings B.V.Amsterdam

The Netherlands

Robert@tbligroup.com+31 (0)20 428 6752

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Julie MuracoCEO & Managing PartnerTBLI Group Holdings B.V.

New York, NYUSA

Julie@tbligroup.com+917-903-2708