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Emerging Markets Power Generation

Investor PresentationOctober 2019

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CAUTIONARY NOTES

This presentation (the “Presentation”) has been prepared by Jade Power Trust (the “Trust”) and is being delivered for informationpurposes only. The Presentation is confidential and is made available strictly on the basis that it will not be reproduced, redistributed ordisclosed, in whole or in part, to any other person at any time, nor its contents disclosed or used for any purpose, without the prior writtenconsent of the Trust. The Presentation does not contain all information that a prospective investor may require. It is an overview only anddoes not contain all information necessary for investment decisions. Unless otherwise specified in the Presentation, informationcontained in the Presentation may not always be current. No reliance may be placed for any purpose whatsoever on the informationcontained in the Presentation or on its completeness, and no liability whatsoever is accepted for any loss howsoever arising from any useof the presentation or its contents or otherwise in connection therewith. For further information on the Trust visit its profile atwww.sedar.com.

Certain statements contained in the Presentation constitute forward-looking statements and forward-looking information (collectively,“forward-looking statements”) and the Trust cautions recipients of the presentation about important factors that could cause the Trust’sactual results to differ materially from those projected in any forward-looking statements included in the presentation. Any statements thatexpress, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but notalways, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”,“anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differmaterially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to becorrect, and such forward-looking statements included in the Presentation should not be relied upon. In addition, the Presentation maycontain forward-looking statements attributed to third party industry sources. Accordingly, any such statements are qualified in theirentirety by reference to, and are accompanied by, the information and factors discussed throughout the Presentation and on the Trust’sSEDAR profile at www.sedar.com.

Neither the Presentation nor any copy of it may be taken or transmitted except in compliance with the applicable securities laws. Byaccepting the Presentation, the recipient represents and warrants that it is a person to whom the presentation may be delivered ordistributed without a violation of the laws of any relevant jurisdiction. No securities commission or other regulatory authority in anyjurisdiction has passed upon this information. The Presentation and the information do not constitute an offer of securities for sale in theUnited States.

All amounts are in Canadian Dollars, unless otherwise noted.

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JADEPOWER Highlights

• Revenue & profit generating

• Tax efficient trust structure

• 100% clean energy production

• Long-term offtakes on all production

• Newly re-named Jade Power Trust (TSX-V: JPWR.UN) to align with the core strategy of focusing on emerging markets clean energy generation

October 2019

AT A GLANCETotal Operating Projects

Total Installed Capacity

Revenues

Production1

81 MW

6

2018 - $17.3 M2019 H1 - $9.0M

2018 – 147,544 MWh2019 H1 – 84,698 MWh

1Production from continuing operations

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JADEPOWER Overview

2018 & 2019 H1 QUICK FACTS

Operating Cashflow

2018: $4.2M2019 H1: $7.3M

Assets

$80M(2018a)

EBITDA

2018: $5.9M2019 H1: $4.0M

• Publicly Listed on the TSX Venture Exchange (Symbol: JPWR.UN)

• Generates and sells electricity to licensed suppliers in Romania

• Diversified portfolio of wind (81% of production), solar (15%), and hydro (4%) assets

• Generates revenue through EU subsidies (Green Certificates) tied to renewable energy generation

Revenue

2018: $17.3M2019 H1: $9.0M

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INVESTMENT HIGHLIGHTS

Long-term Stable Cash Flows from

Diversified Portfolio

• Long-term stable and predictable cash flows from long-term power contracts.• Diversified portfolio with little variation in annual output.

Tax Optimization through Income Trust

Structure

• Tax advantaged structure that maximized after-tax cash flows available to be returned to investors with no taxes payable in Canada on active business income generated around the world.

• Long-term competitive advantage through lower cost-of-capital.

Value Proposition

Capitalizing on Growth Opportunities in Emerging Markets

• Infrastructure and team in place to capitalize on opportunities in emerging markets with higher return potential than the equivalent opportunities in developed markets.

• Management team with a track record of sourcing, financing and operating companies in emerging markets.

• Management believes that a portfolio of generation assets by generation type, geographic location, functional currency, and jurisdiction will a achieve a low risk profile.

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Corporate History

Jun 2014:

Acquired Three Producing Renewable Hydro Power Assets.

1) Suha: 2.0MW for €4.0m

2) Zagra: 0.8MW for €4.0m

3) Rott: 1.7MW for €3.85m

Dec 2017:

Acquired Wind Farm

East Wind: 45.0MW for 18.0m by way of Cash

Jun 2014

Equity Raise: CAD $21m

Feb 2014

Trust Launched

Sep 2016:

Acquired Wind Farm.

Baia: 17.0MW for €14.76m (Comprised of Stock, Debt & Cash)

Jul 2015: Acquired two Solar Farms

1) Corabia: 7.0MW for €11.2m

2) PowerLive: 9.6MW for €15.36m

Jul 2018:

Commenced crypto mining

Jul 2015

Equity Raise CAD $13m

Oct 2015:

Acquired listed shell with $4.0m cash

for 4m units of the Trust

Sep 2016

Debenture Financing:CAD $3m

Dec 2017

Equity Financing: CAD $43m

Oct 2015

Equity Raise: CAD $4m

Oct 1, 2018:

Ceased Crypto Operations

20172014-2016 2018

H1 2019:

OPERATING TO PLAN

NET INCOME = $0.04M or $Nil / Unit

OPCF = $7.3M

Dec 31, 2018:

95% YOY INCREASE IN PRODUCTION

42% YOY INCREASE IN REVENUES

$78.6M WORKING CAPITAL IMPROVEMENT

NET INCOME = $5.6M or $0.03 / Unit

OPERATING CASH FLOW (“OPCF”) = $4.2M

October 2019

Oct 2019

Name Change to Jade Power from Blockchain Power

H1 2019

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StrategyFocused on Sustainable Power Generation

Total Capacity:

81MW

CORE BUSINESS: Revenue from Clean Power Generation

WIND

Baia: 17.0 MW

East Wind: 45.0 MW

HYDRO

Rott: 1.7 MW

Zagra: 0.7 MW

SOLAR

Corabia: 7.0 MW

PowerLIVE: 9.6 MW

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EU Green Certificates Explained

EUROPEAN GREEN CERTIFCATE PROGRAM EXPLAINED

BENEFITS TO JADEPOWER

• Romania has incentivized the construction and use of renewable energy by implementing a green certificate program.• EU mandate of 20 by 2020 - 20% of energy from renewable sources by 2020.• Renewable energy companies are issued a number of Green Certificates dependent on the type and amount of

energy produced. • The renewable energy companies sell the Green Certificates to electricity suppliers to receive a secondary revenue

stream, improving project returns.• Green Certificates are priced according to market dynamics subject to a ceiling and floor price:

• Ceiling price of EUR59.80• Floor price of EUR29.30 • Floor and ceiling price subject to inflation adjustments

• Revenue from Green Certificates exceeds that of the energy sold to market.

• With Jade Power’s current portfolio (as at Dec 2018):- 35% of Revenue has come from the sale of electricity- 65% of Revenue comes from the Green Certificate incentive

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Performance Metrics

October 2019

1Includes only pre-acquisition production; prior periods have been restated to exclude discontinued operations

CASH: $1.3MEBITDA: $5.9M

2018 PERFORMANCE

Gross RevenueMW Produced

ENERGY GENERATION1 REVENUE PERFORMANCE

2014 2015 2016 2017 2018 2019H1

17,277

43,277

75,152

5,068

147,544

2018:96% YOY Increase

2014 2015 2016 2017 2018 2019H1

$3.5M

$8.7M

$12.3M

$0.4M

2018: 42% YOY Increase

$17.3M

2019 H1 PERFORMANCE

CASH: $3.4MEBITDA: $4.0M

$9.0M

84,698

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Debt Profile

Corporate Level: $3.8MPowerLive: $11.1MCorabia: $8.1MBaia: $4.9M

Total Debt: $27.9M

Debt Repayment: under 5 years

NET ASSETS & TOTAL DEBT Q2 2019 DEBT SUMMARY

Net Assets Debt

2014 2015 2016 2017 2018 Q2 2019

$11.4M

$44.9M

$59.7M

$97.6M

$(37.5)M

$44.4M

$(1.6)M$7.8M

$4.7M

$27.9M $31.1M

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CAPITAL STRUCTURE as at June 30, 2019

TSX-V: JPWR.UN$0.135230MNil45M @ $0.80 (Exp. 08/20)

$31.1M$27.8M$58.9M

Capital Structure

Key Shareholders

Management & Insiders 2.2%Renovatio Group Limited 22.8%MMCAP International Inc. 16.1%Widely Held 58.9%

---------100%

Ticker SymbolShare Price Shares OutstandingOptions OutstandingWarrants Outstanding

Market Cap Debt Enterprise Value

Capital Structure

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Ravi is the Chairman and co-founder of Jade Power Trust. He isan entrepreneur and previously was CEO of an investmentmanagement company. He has closed over $1.5B in equity anddebt financings and has concluded acquisitions and divestitureson 5 continents. He holds a degree in Mathematics from theUniversity of Waterloo where he was a Descartes Fellow andthe recipient of numerous scholarships and awards.

LeadershipManagement and Board of Directors

Ravi SoodChairman

J. Colter EadieCEO

Colter is the Chief Executive Officer and co-founder of JadePower Trust. He has lived in Romania since 2013. He took theTrust public as well as negotiated and concluded 7acquisitions/business integrations subsequent to the go publiceffort. Colter has a background in large-scale projectdevelopment including permitting, procurement, andconstruction.

Betty SoaresCFO

Betty is the Chief Financial Officer of Jade Power with over 15years experience in finance leadership, backed by operational &technological expertise. She’s been involved in numerous M&Aand financing transactions. Additionally, she has led varioustransformation leadership projects. She is a CPA with aBachelors of Business Administration (Honours) from WilfridLaurier University and is an MBA (candidate) from RotmanSchool of Management (University of Toronto) and from theSchool of Management (Bocconi University).

John was previously President of Algonquin Power Corporation,a builder, developer and operator of power generation facilitiesin Canada & United States. He holds a Bachelor of Laws degreefrom Osgoode Hall Law School.

John HuxleyDirector

Amar is a private investor and real estate developer. Amarserves on the board of several public and private companies.He is a CFA charter holder, a member of the Institute ofCorporate Directors, and holds a BA Economics from McGillUniversity.Amar Bhalla

DirectorSavneet in an entrepreneur and investor having co-foundedGBI, the first digital platform that allows users to buy, store,and trade precious metals and backed several leading fintechplatforms. Savneet has been named to the Forbes Top 30under 30 and Crain’s Top 40 under 40. He received his B.S. inApplied Economics and Management from Cornell UniversitySavneet Singh

Director

Mr. Barclay is MD & Principal of B4 Capital, LLC, a privateinvestment company which invests in a diverse portfolio ofasset classes. Mr. Barclay previously served for more than 12years as Senior Vice President and General Counsel of RepublicServices, Inc., a non-hazardous solid waste collection anddisposal company listed on the NYSE.

David BarclayDirector

Mr. Steers career focused on the development of majorinfrastructure projects in Latin America and Africa. He is Chairof Arht Media Inc., Director of PetroRio S.A., Lara ExplorationLtd. and Routemaster Capital Inc. Mr. Steers holds an HBA fromthe University Western Ontario.

William C. SteersDirector

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RAVI SOODChairmanrsood@jadepower.comMobile: +1 647 987 7663

J.COLTER EADIEChief Executive Officerjceadie@jadepower.comMobile: +40 736 372 724

BETTY SOARESChief Financial Officerbsoares@jadepower.comMobile: +1 416 803 6760

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Energy PortfolioOperations: Wind, Solar, Hydro

Unique Investment Vehicle

Unique Investment Vehicle

Unique Investment Vehicle

Project Name(s): East Wind, BaiaGeneration Type: WindInstalled Capacity: 62 MWAvg Annual Generation: 132,000 MWhHardware (Turbines): 22 Vestas V90 Land Owned: 5 acresDate Acquired: Dec 2017 & Sep 2016EU Subsidy Ends: 2028

Project Name(s): Corabia, PowerLIVEGeneration Type: SolarInstalled Capacity: 16.6 MWAvg Annual Generation: 21,100 MWhHardware: REC ModulesLand Owned: 126 acresDate Acquired: July, 2015EU Subsidy Ends: 2035

Project Name(s): Zagra, RottGeneration Type: Run-of River HydroInstalled Capacity: 2.5 MWAvg Annual Generation: 10,500 MWhHardware: Pelton TurbinesDate Acquired: June, 2014EU Subsidy Ends: 2028

• 81MW capacity

• 2018 Operating Margin of $8.5M1

• 2019 H1 Operating Margin of $6.0M1

OPERATING CLEAN ENERGY PORTFOLIO

1Operating Margin is equal to revenues minus cost of sales excluding depreciation

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RomaniaRomania joined the European Union (EU) on 1 January 2007

Stable Electricity Infrastructure

o Total Energy Network capacity originally builtfor 36 TWH; currently only being utilized at 12TWH (1/3 Capacity).

o 400 KV Ring with strong interconnections withneighboring countries means stable and ondemand power as needed.

Abundant natural resources and generation mix

o Stable and Mixed Generation Capacity including largescale hydro, nuclear, wind, gas and coal means ability todeliver baseload energy under any circumstance.

Reliable Internet infrastructure

Rule of Law, Strong FDI and Investors Protection Rights

o Romania’s body of law is governed by European Union“EU”

Ukraine

Serbia

ermany

Italy

Czech RepSlovakia

Austria

Poland

Bulgaria

RomaniaCroatia

Hungary

Greece

Slovenia

g

Low Corporate Tax Rate

o The standard tax rate is 16% for both Romanian andforeign companies

Highly Educated and Affordable Workforce

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Strategic ShareholderRenovatio Group

• Renovatio Group is a strategic shareholder of Jade Power Trust holding approximately 51.9M units (22% currently outstanding)

• Integrated operator (development, generation, trading, asset management) in the renewable energy sector

• Has completed over 1,000 MW of projects in Romania – over EUR 1 Billion in Capital Expenditures

• JV/Equity Partnership with World bank IFC, EBRD, EDPR and others

• Project Development Pipeline globally in excess of 2,000 MW

• Headquartered in Cyprus and Portugal; key operating centers in Romania and Colombia

KEY FACTS

October 2019