Limited Partnerships

Net Asset Value

Solar Flow-Through Fund Unit Pricing
Solar
2012 LP
Solar
2013 LP
Solar
2014 LP
Solar
2015 LP
Solar
2016 LP
Solar
2017-I LP
Solar
2017-A LP
Solar
2018-I LP
Solar
2018-A LP
2022
Q1 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
2021
Q4 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Q3 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Q2 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Q1 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
2020
Q4 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Q3 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Q2 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Q1 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
2019
Q4 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Q3 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Q2 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Q1 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
2018
Q4 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Q3 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00
Q2 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00
Q1 $118.17 $85.67 $100.00 $100.00 $100.00 $100.00 $100.00
2017
Q4 $118.17 $85.67 $100.00 $100.00 $100.00
Q3 $118.17 $85.67 $100.00 $100.00 $100.00
Q2 $118.17 $85.67 $100.00 $100.00 $100.00
Q1 $118.17 $85.67 $100.00 $100.00 $100.00
2016
Q4 $118.17 $85.67 $100.00 $100.00 $100.00
Q3 $118.17 $85.67 $100.00 $100.00 $100.00
Q2 $118.17 $85.67 $100.00 $100.00
Q1 $118.17 $85.67 $100.00 $100.00
2015
Q4 $118.17 $100.00 $100.00 $100.00
Q3 $118.17 $100.00 $100.00 $100.00
Q2 $118.17 $100.00 $100.00 $100.00
Q1 $100.00 $100.00 $100.00
2014
Q4 $100.00 $100.00 $100.00
Q3 $100.00 $100.00
Q2 $100.00 $100.00
Q1 $100.00 $100.00
2013
Q4 $100.00 $100.00
Q3 $100.00
Q2 $100.00
Q1 $100.00
2012
Q4 $100.00

Please note: The net asset values for 2012 LP and 2013 LP, respectively, represent the last calculated net asset value which is not current, and $100 for the remaining Partnerships represents the issue price of the Units only, all of which should not be taken as the current net asset value of any of the Units or the Partnerships. In July 2018, the limited partnerships had non-operating and pre-construction FIT Contracts terminated by the Independent Electricity System Operator based on direction from the Province of Ontario. Under the terms of the FIT Contracts, the limited partnerships are entitled to certain cost reimbursements from the Independent Electricity System Operator. Net Asset value will not be updated until the impact of the cancelled FIT Contracts on the limited partnerships has been determined and prior to a liquidity event planned in 2022. Management is cautioning unitholders to not rely on the NAV due to unknown outcomes of the contractual recovery of certain development costs incurred by the limited partnerships and any other recoveries related to the terminated FIT Contracts.

At an Investor Call held by management of Solar Flow-Through on December 8, 2021, direction was given about possible valuations. These valuations are forward looking and should not be used for the purpose of assigning the current net asset value.

January 13, 2022