In This Section INFRASTRUCTURE OVERVIEW Harbert companies have been successfully investing in infrastructure for over 30 years, and for over 20 years through HMC’s fund strategies. Harbert Infrastructure invests in assets that can provide investors attractive risk-adjusted returns, reliable current income, opportunity for capital gains, and inflation protection. Two keys to our success have been a disciplined investment focus and an experienced, stable investment team. Harbert Infrastructure team members bring a broad range of valuable experience to the team as developers, builders, owner-operators, and managers – and not just as financial investors. The team’s strong and diverse backgrounds are important in enabling HMC to be an active asset manager – a manager who can identify and implement material, value-add initiatives at portfolio assets during an investment’s hold period. Hands-on, value-add efforts across the portfolio can mean the difference between market returns and creating additional value for investors. INVESTMENT TEAM Patrick E. Molony President & CEO G. Tatum Lassiter Managing Director, Co-Head of Investments Claude H. Estes Managing Director, Co-Head of Investments J. Russell Martin Managing Director, Investments Douglas L. McCrary Managing Director, Investments Adam Nygaard Vice President, Investments Matthew D. Clendenen Associate, Investments James R. Hands Associate, Investments Jeffrey W. Moore Managing Director, Asset Management J. Clayton Hamblen, III Director, Asset Management Kirk T. Stafford Associate, Asset Management Kayla Jones Senior Financial Analyst Duane H. Nelsen Senior Advisor, Asset Management H. Murry Weaver Senior Advisor, Asset Management Ruedi Tobler Senior Advisor, Asset Management Kenneth W. Kilgroe Senior Vice President & CFO/Controller, Accounting and Tax Crystal L. Burnett Director of Infrastructure Tax & Special Projects, Accounting and Tax Lee H. Thompson, III Director of Accounting & Financial Operations, Accounting and Tax Katie L. Mitchell Manager of Infrastructure Tax Compliance, Accounting and Tax Ellen L. Knowles Infrastructure Fund Senior Accountant, Accounting and Tax Gina McKenzie Infrastructure Fund Accountant, Accounting and Tax INVESTMENT CRITERIA We invest in infrastructure assets with proven technologies, throughout North America. Assets may have contracts to sell their output or they may be well-positioned assets representing value in a good market area. We acquire interests in existing assets, and we seek out new project development opportunities where a project’s economics can support new build cost. A single asset equity investment for our funds will typically be $50-150 million, representing an asset total value of approximately $100-$500 million including project-level debt. Larger investment opportunities will also be considered, and can be executed by utilizing co-investment from our investor partners or through Gulf Pacific Power, our separate account fund with CalPERS which is established to target larger, contracted assets. The Harbert Infrastructure team recognizes the importance of identifying and managing Environmental, Social, and Governance (“ESG”) issues throughout our investment process. We believe positive ESG practices can be important in reducing risk and enhancing value of investments. Environmental performance and compliance, worker safety and welfare, community involvement, and having our investors well represented in the governance of each investment have long been and will continue to be critical factors in the management of and the success of Harbert’s investments. Harbert Infrastructure’s policy is to review the ESG factors for each potential investment and to consider the potential impact of ESG factors when making investment decisions. For each investment made, we will regularly monitor and report on ESG factors, and where appropriate, work to mitigate risks imposed by ESG factors. GRESB, an investor-driven organization committed to assessing the ESG performance of real assets globally, conducted its first annual infrastructure assessment program for year 2015. The annual assessment provides for objective scoring and peer benchmarking of ESG performance of infrastructure companies and funds. Harbert Infrastructure participated in the inaugural GRESB annual assessment and is continuing its support and participation in GRESB’s program. PORTFOLIO Current Portfolio Harbert Infrastructure Fund VI, LP Harbert Power Fund V, LLC Harbert Power Fund IV, LLC Harbert Power Fund III, LLC Harbinger Independent Power Fund II, LLC Harbinger Independent Power Fund I, LLC Harbert Cogen, Inc. Portfolio (Managed Assets) Gulf Pacific Power, LLC Gotham Power Investors, LLC NEWS November 1, 2021 - HIF – Harbert Infrastructure Expands Investment Team, Adds Energy Storage Specialist October 21, 2021 - HIF – Harbert Infrastructure Receives ESG Performance Accolades from GRESB July 26, 2021 - HIF – Gulf Pacific Power, LLC Acquires Peaking Facility Near Sandersville July 19, 2021 - HIF – Harbert Infrastructure to Acquire Interests in Generate Capital, Inc., a Leading Distributed Infrastructure Platform July 1, 2020 - HIF – Equity consortium closes acquisition of stakes in New York’s Astoria Energy facilities December 16, 2019 - HIF – Gulf Pacific Power Acquires Majority Stake in Wind Portfolio November 30, 2018 - HIF – Gulf Pacific Power, LLC Acquires Washington County Power November 30, 2017 - HPF – Harbert Management Corporation Affiliate Gulf Pacific Power, LLC To Acquire An 80% Cash Equity Interest In Rocky Caney Portfolio November 15, 2016 - HPF – Harbert Power Fund V, LLC Acquires Interest in Large Power Portfolio May 12, 2016 - HPF – Harbert Power Fund V, LLC Acquires Calhoun Power Company April 1, 2016 - HPF – HMC Affiliate Gulf Pacific Power, LLC to Acquire up to a 25% Interest in Desert Sunlight August 17, 2015 - HPF – Harbert Power / Canadian Developer Establish Venture For Decentralized Power Generation February 5, 2015 - Harbert Independent Power Fund Closes at $485 Million November 14, 2014 - HMC Affiliate Harbert Power Fund V, LLC Acquires Interest in Astoria Energy Facility in New York City April 25, 2014 - HMC Affiliates Gulf Pacific Power, LLC and Harbert Power Fund V, LLC to Acquire 50% Interest in Northern Star Generation October 18, 2013 - HMC Affiliate Gulf Pacific Power, LLC Acquires Interest in New York City Power Plant August 22, 2013 - Harbert Holds Second Closing on Harbert Power Fund V, LLC CONTACT HARBERT INFRASTRUCTURE 2100 Third Avenue North, Suite 600 Birmingham, AL 35203 Contact: Claude Estes Director cestes@harbert.net 205.987.5539 © 2021 Copyright Harbert Management Corporation Important Disclosure Information | Privacy Statement | Business Continuity Plan | Form CRS 2100 Third Avenue North, Suite 600 Birmingham, Alabama 35203 205.987.5500