FINANCIAL HIGHLIGHTS Capstone’s mission is to provide investors with an attractive total return  from responsibly managed long-term investments in core infrastructure  in Canada and internationally. Since inception, we have signifi cantly diversified our portfolio, increased revenue  and enhanced cash flow while lowering our risk profile and creating a stable platform  for continuing growth. (1) Excludes internalization costs. (2) Information from 2004 to 2009 is presented in Canadian GAAP and may not be comparable with information provided under IFRS for 2010 to 2013. (3) Chart illustrates contribution for the businesses and excludes the development and corporate components. 12 13 11 10 09 08 07 06 05 04 357.6 389.5 158.5 216.0 148.4 153.2 122.8 89.9 90.2 55.8 HISTORICAL REVENUE (in millions of dollars) (2) 18.6% CAGR in revenue  since 2004. ADJUSTED EBITDA (in millions of dollars) (1) (2) 120.3 128.4 55.8 55.7 61.2 67.3 61.2 34.1 27.9 16.3 11 12 13 10 09 08 07 06 05 04 20.2% CAGR in Adjusted  EBITDA since 2004. (1) ADJUSTED EBITDA IN 2013 BY BUSINESS (3) p 23% Gas Cogeneration Power  p 18% Wind Power  p 4% Biomass Power  $_{pp}$  8% Hydro  Power  $_{pp}$  10% Solar Power  $_{pp}$  4% District Heating  $_{pp}$  33% Water Utility  ADJUSTED EBITDA IN 2013 BY GEOGRAPHY (3) p  63% Canada  $_{pp}$  4% Sweden $_{pp}$  33% United Kingdom 