CAPACITY FOR CHANGE Engaging the Demand Side Turkey

CAPACITY FOR CHANGE Engaging the Demand Side Turkey March 2016 HEADQUARTERS 2900 N. Quinlan Park Rd Suite B 240, #215 Austin, TX 78732 512 318 2154 www. innovari. com NOC & TECHNOLOGY C 1 9 E 7 N 2 T 0 ENR W Tanasbourne Drive Suite 320 Hillsboro, OR 97124 BACKUP DATA CENTER Santa Clara, CA INNOVARI LATIN AMERICA INNOVARI INDIA Buenos Aires, Argentina Cali, Colombia Opening Soon - Panama Gurgaon (Delhi) Mumbai Opening Soon: Bangalore INNOVARI MIDDLE EAST Amman, Jordan Opening Soon – UAE

Any initiative that creates dynamic communication and control across this boundary must be secured at the highest level to protect the power grid and the control room that is responsible to maintain the reliability of the power grid. US initiative to create Open ADR (1. 0 one way signaling, 2. 0 examining feedback/two-way) Have not determined how to cross the ‘boundary’. Value Evolution of Load Management Previously known as curtailment and resurfaced in residential as one Most Existing “dispatchable load” way Tstats <10% of driven by manual measures via call, page Worldwide LM is here or text ~90% of Worldwide LM is here Two-way, verifiable load management with dynamic attributes that allow the grid to be served <1% of Worldwide LM is here d Loa d e ifi Ver Mgmt d Loa t c Dire ntrol Co and m e D ual onse n a p M Res ted ma t o t Au lligen t Inte d Mgm Loa Fully automated response intelligently taps embedded responsive load in most buildings and can be dispatched automatically based on grid condiitions tio era n e G lity Qua n Looks, acts and is trusted as a utility resource if owned by utiliity Utility Equivalent & Trusted Resource/Product Confidential @ 2014 Innovari, Inc. 2

Any effort undertaken should strive to connect utilities, their customers, their regulators, and their communities to improve how the world uses energy. Confidential @ 2014 Innovari, Inc. 3

Drive Success, not activity “Don’t mistake activity with achievement” - John Wooden Defining the right metric is crucial to the success of developing demand side resources. What is your ultimate goal? Signing people up? Running a pilot? Measuring performance of a house or building? Or are we trying to improve our infrastructure, improve utilization and ultimately optimize our electric grid? CONFIDENTIAL © 2014 INNOVARI, INC. 4

Demand Side Management in the U. S A VERY SUCCESSFUL FAILURE! CONFIDENTIAL © 2014 INNOVARI, INC. 5

PJM (ISO) Example PJM (Pennsylvania-New Jersey-Maryland Interconnection) operates a competitive wholesale electricity market which serves 20 distinct regions (T&D Utilities) 63, 000 miles of Transmission Lines 61 million people Peak Demand of 165, 000 MW Generation Capacity of 184, 000 MW DR Capacity of ~11, 000 MW DR Program Costs: 2009 2010 2011 2012 2013 $410 M $584 M $420 M $268 M $560 M and not used for 5 days of use $ 25, 000 /MWh for 1 day of use $ 35, 000 /MWh for 2 days of use $ 24, 000 /MWh for 5 days of use $ 8, 000 /MWh Total: $2. 2 Billion Confidential @ 2014 Innovari, Inc. 6

PJM: Estimate >$4 Billion in FCM for < 100 hours over 13 years 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 No Events on 4 days for a total of 11 hours Events on 3 days for a total of 13 hours No Events on 2 days for a total of 5 hours Events on 2 days for a total of 8 hours Event on 1 day for a total of 3 hours No Events on 5 days for a total of 25 hours Dispatched 2, 700 MW Event on 1 day for a total of 5 hours Dispatched 2, 100 MW Events on 2 days for a total of 6 hours Dispatched 2, 200 MW Events on 5 days for a total of 18 hours Dispatched 5, 800 MW Never Dispatched more than 50% of Available Capacity Largest Event was 3. 5% of Peak Demand Equivalent Capacity Factor: 0. 09% Confidential @ 2014 Innovari, Inc. 7

PJM: Estimate >$5. 5 Billion in total for < 100 hours over 13 years ~$2 B >$2 B 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 No Events on 4 days for a total of 11 hours Events on 3 days for a total of 13 hours If include settlement, bid No Events management, IT system, No Events legal, penalties and Events on 2 days for a total of 5 hours administrative costs adds Events on 2 days for a total of 8 hours another ~$1. 5 B Event on 1 day for a total of 3 hours No Events on 5 days for a total of 25 hours Dispatched 2, 700 MW Event on 1 day for a total of 5 hours Dispatched 2, 100 MW Events on 2 days for a total of 6 hours Dispatched 2, 200 MW Events on 5 days for a total of 18 hours Dispatched 5, 800 MW Never Dispatched more than 50% of Available Capacity Largest Event was 3. 5% of Peak Demand Equivalent Capacity Factor: 0. 09% Confidential @ 2014 Innovari, Inc. 8

Used and Useful? So you bought a Ferrari – do you want to drive it less than 100 hours in 13 years? Pull it out of the garage each year for a few hours to drive in a Parade? . . . . Or drive it 438 hours every year? Should you spend billions on an emergency only, less than 10 hours per year product or should you be focused on a used & useful resource to help you optimize your grid? Confidential @ 2014 Innovari, Inc. 9

SCE Example SCE represents approximately one half of the CAISO territory 14 million people Peak Demand of 23, 000 MW Interruptible Tariffs Price Responsive Programs Aggregator DR Programs Auto-DR Summer Discount Programs Outreach Programs Program Administration 2013 Reduction Hours $ 81. 4 M 23 MW 1 hr $ 8. 1 M 2 to 221 MW 24 hrs $ 13. 0 M 2 to 140 MW 50 hrs $ 12. 2 M Not called $ 92. 0 M 100 to 361 MW 24 hrs $ 10. 6 M 8 hrs $ 4. 4 M Total: $ 220 M 12, 400 MWh $18, 000 /MWh Largest Single Day Event was 2. 0% of Peak Demand Equivalent Capacity Factor: 0. 6% Confidential @ 2014 Innovari, Inc. 10

SCE Example SCE represents approximately one half of the CAISO territory 14 million people Peak Demand of 23, 000 MW Interruptible Tariffs Price Responsive Programs Aggregator DR Programs Auto-DR Summer Discount Programs Outreach Programs Program Administration 2013 Reduction Hours $ 81. 4 M 23 MW 1 hr $ 8. 1 M 2 to 221 MW 24 hrs $ 13. 0 M 2 to 140 MW 50 hrs $ 12. 2 M Not called $ 92. 0 M 100 to 361 MW 24 hrs $ 10. 6 M 8 hrs $ 4. 4 M Total: $ 220 M 12, 400 MWh $18, 000 /MWh Largest Single Day Event was 2. 0% of Peak Demand Equivalent Capacity Factor: 0. 6% Confidential @ 2014 Innovari, Inc. 11

SCE Example SCE represents approximately one half of the CAISO territory 14 million people Peak Demand of 23, 000 MW Interruptible Tariffs Price Responsive Programs Aggregator DR Programs Auto-DR Summer Discount Programs Outreach Programs Program Administration Does not include any settlement, system, legal Hours or administrative 2013 Reduction costs. Also does not include TA $ 81. 4 M 23 MW 1 hr ($100/k. W) and TI ($400/k. W) $ 8. 1 M 2 to 221 MW 24 hrs Estimate $ 13. 0 M 2 to 140 MW 50 hrs >$500 M $ 12. 2 M $ 92. 0 M 100 to 361 MW $ 10. 6 M $ 4. 4 M Total: $ 220 M Not called 24 hrs 8 hrs 12, 400 MWH $18, 000 /MWH Largest Single Day Event was 2. 0% of Peak Demand Equivalent Capacity Factor: 0. 6% Confidential @ 2014 Innovari, Inc. 12

Make a bet. . . or run a reliable grid? Consultants View Grid Operators View This report shows statistically valid sample results to prove the concept could work Behavior modification has been shown to work and is sustainable for extended periods in our studies Demand Response has been incredibly successful in the U. S. with PJM and California showing everyone how to create successful programs Time of Use rates will solve everything. . . (but we need 2. 5 x-3 x separation of peak to off peak rates) To enable the demand side, the bar has to be lowered on technical requirements for communications and dispatch If I can’t see it and control it, it doesn’t exist If your program is so successful, why doesn’t my Load Duration Curve ever change? You want me to bet the reliability of my grid on “behavior modification”? And that this behavior modification will last for 20 years? Do you know my kids? My life is governed by seconds, not hours, days or months. Give me what I need in real-time or it isn’t real. Meet the rules of the road that exist now versus creating entirely new sets of rules that lower the bar for the DSM/DER resources. CONFIDENTIAL © 2014 INNOVARI, INC. 13

Customer View Less is More – Soft Touch Don’t Bother Me – I have a business to run Eliminate “Fatigue” Fully Automated, set it and forget it Predetermined environmental boundaries for both lighting and Cooling Non critical loads Opt Out provision Continuous learning and optimization with ability to change

History: Learn From Others What has and has not Worked • In the U. S. and Europe, DR is still used as an “emergency not as a “grid” resource. • DR programs designed to operate for <80 hours/year. • DR typically called <20 hours/year • ADSM: A 438+ hour/year resource, two way, verifiable by Grid Operator, real-time • ADSM: Not one-way, not 80 hours, not seasonal, not emergency only use • In the U. S. , great things have been accomplished: • But the net result related to the Root Cause Problem of our Industry, the system load duration curve is WORSE. Yes, it is worse now than it was 25 years ago. • Grid is “peakier”, causing reliability issues, price separation from peak to base load and other economic problems and stability issues for utilities and consumers • Making customers dark and hot is not sustainable. • The wrong metrics are being used, it’s not about “sign ups” in a program, it is about whether or not we are solving the problems we set out to solve. 15

Learn from others “Those who cannot learn from history are doomed to repeat it” - George Santayana Turkey is in a perfect position to make use of the significant technological advancements now available to make the demand side a very real part of their portfolio. CONFIDENTIAL © 2014 INNOVARI, INC. 16

LET’S TALK ABOUT THE KEY TECHNOLOGIES AND STRATEGIES THAT EXIST NOW THAT DIDN’T EXIST EVEN 10 YEARS AGO Confidential @ 2014 Innovari, Inc. 17

Two keys: Communications and chip technology (with FPGA) • 2 -way, verifiable, closed loop control. Energy Agent™ • Installed behind the meter • Utility branded, owned and controlled • Integrate with Building Management Systems (Bac. Net, Modbus, etc. ) Interactiv e Energy Platform™ • Direct control of facility lighting and HVAC loads DER Agent™ • Last Gasp Outage Notification Utility has greater visibility deep into the grid, with advanced monitoring and analytics: • Volt / VAR, • Power Quality, • DG & PV integration/monitoring • Harmonics • Digital Fault Recording • Distribution level PMU Grid Agent™ • Manage DER with Building or Feeder loads • Dispatchable Standby Generators • Enable edge of grid technologies • Manage PV Intermittency • Control Energy Storage – optimize phase balance and feeder efficiency, and improves customer reliability CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 18

Pharmacy Facility Overview HVAC -Operating Range Elec Room Pharmacy Energy Agent™ and LCP Grid Agent™ Offices Wall Display Units AREA Photo Coolers Remote Temp Sensors Sales Floor RRs Registers Stock Monitor Only Temp ↑ Temp ↓ Sales Floor 2 3 Offices 0 2 Stock 6 10 Drink Cooler 4 6 Food Cooler 2 4 Freezer 6 8 Pharmacy 0 0 ry t En Coolers CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 19

Pharmacy Facility Overview Lighting- Normal Operation RRs Offices Photo Coolers Sales Floor Registers Stock Pharmacy Energy Agent™ and LCP Grid Agent™ • Lighting circuits are wired to a smart breaker panel which can be controlled remotely to reduce load • The customer defines the level of impact ry t En CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 20

Pharmacy Facility Overview Lighting – Contract Capacity RRs Offices Photo Example: • Window Soffits • 2 rows Sales Floor • 25% Stock Room • 25% Office Coolers Sales Floor Registers Stock Pharmacy Energy Agent™ and LCP Grid Agent™ ry t En CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 21

Pharmacy Facility Overview Lighting – Grid Emergency RRs Offices Photo Coolers Sales Floor Registers Stock Pharmacy Energy Agent™ and LCP Grid Agent™ Example: • Window Soffits • 90% Sales Floor • 90% Stock Room • 90% Photo • 50% Office ry t En CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 22

Visualizing an Event The upper graph represents a dispatch Event where 350 k. W is requested for a period of two hours This request may be targeted at a specific feeder or an aggregate need across any portion of the grid The lower graph shows how the IEP then selects a combination of devices, each represented by a “brick” (capacity and duration), which are stacked and sequenced to meet the dispatch request 0 k. W 100 k. W 200 k. W 300 k. W 400 k. W 500 k. W 400 k. W 1 13 8 14 2 300 k. W 9 15 3 10 4 11 200 k. W 5 100 k. W 16 12 6 17 18 7 0 k. W Aug 6 12: 00 CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 Aug 6 13: 00 Aug 6 14: 00 23

Calculating Performance 0 k. W At any point in time, the IEP determines and reports the state of each device under three cases: Before t = Tstart During the Event After t = Tend 100 k. W 200 k. W 300 k. W 400 k. W Note: In this example the IEP will initiate control requests to 18 different devices “bricks” at different times during the Event to maintain the dispatch request. There are other factors not illustrated here which include ramping, temperature dependence, forecasted operating schedules and other considerations 500 k. W 400 k. W 1 13 8 14 2 300 k. W 9 15 3 10 4 11 200 k. W 5 100 k. W 16 12 6 17 18 7 0 k. W Aug 6 12: 00 CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 Aug 6 13: 00 Aug 6 14: 00 24

Performance at Event Start The solid blue line represents the status and capacity of each device 0 k. W 100 k. W 200 k. W Pre-Cooling and ramp up of devices before Event 300 k. W In this example, bricks 1 -7 are the only devices called to operate at the beginning of the Event as they fulfill the capacity of the dispatch request plus an operating margin 400 k. W 500 k. W 400 k. W 1 14 2 Verification at the time of Event includes the observation of a state change (ON to OFF) for each device 13 8 300 k. W 9 15 3 10 4 11 200 k. W 5 100 k. W 16 12 6 17 18 7 0 k. W Aug 6 12: 00 CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 Aug 6 13: 00 Aug 6 14: 00 25

Performance During Event 0 k. W In this example, bricks 1 and 2 had known dispatch durations of 40 and 50 minutes, less than the desired dispatch request of two hours 100 k. W 200 k. W 300 k. W Two additional bricks, 8 and 9 have been added to the portfolio to maintain the dispatch request 400 k. W 500 k. W 400 k. W Note: In this example the IEP will initiate control requests to allow for overlapping start and stop of bricks and other factors not illustrated here which include time to full state change and other considerations 1 13 8 14 2 300 k. W 9 15 3 10 4 11 200 k. W 5 100 k. W 16 12 6 17 18 7 0 k. W Aug 6 12: 00 CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 Aug 6 13: 00 Aug 6 14: 00 26

Performance During Change In this example, brick 10 has been observed to change state prior to the intended duration by any of several factors: Manual override of the Event by the customer Automatic recovery due to building operating temperature exceeding limits The operating margin allows for these variances of each individual device performance and additional bricks are called in real-time when needed 0 k. W 100 k. W 200 k. W 300 k. W 400 k. W 500 k. W 400 k. W 1 ge s n u ha tat C S 13 14 in 8 2 300 k. W 9 15 3 10 4 11 200 k. W 5 100 k. W 16 12 6 17 18 7 0 k. W Aug 6 12: 00 CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 Aug 6 13: 00 Aug 6 14: 00 27

Performance Monitoring 0 k. W The real-time monitoring of each individual device is presented as aggregated capacity (solid blue line) continuously over the period of the Event regardless of the number or sequence of participating “bricks” 100 k. W 200 k. W 300 k. W 400 k. W 500 k. W Operating margin is determined and maintained by the IEP dependent on the characteristics of each participating “brick” 400 k. W 1 13 8 14 2 300 k. W 9 15 3 10 4 200 k. W 5 100 k. W 16 11 12 6 17 18 7 0 k. W Aug 6 12: 00 CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 Aug 6 13: 00 Aug 6 14: 00 28

Performance at End of Event Ramp up of devices to following end of Event Verification at the end of an Event may include the observation of a state change (OFF to ON) for each device Note: There are other factors not illustrated here which affect when switched loads may return to an operating state include ramping, temperature dependence, forecasted operating schedules and other considerations 0 k. W 100 k. W 200 k. W 300 k. W 400 k. W 500 k. W 400 k. W 1 13 8 14 2 300 k. W 9 15 3 10 4 200 k. W 5 100 k. W 16 11 12 6 17 18 7 0 k. W Aug 6 12: 00 CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 Aug 6 13: 00 Aug 6 14: 00 29

So what can be a TIC? EV Charge Reduce Grid Losses, Fuel, and Carbon Emissions Automated Demand Side Management (ADSM) Solar and Wind Balance with Distributed Energy Resources (DER) Microgrid integration Distributed Generation Integration Storage and Grid Power Balancing Reduce Peaker and T&D Upgrades 30

Some TIC’s might surprise you Mobile Generator* Control 600 k. W generator Supports substation constraints and system peaks Includes: Parallel Switchgear Controller System Monitors Fuel Battery Charge Generation Grid analytics * Reliance, Mumbai, India CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 31

REAL EXAMPLE OF SYSTEM OPTIMIZATION THROUGH ADSM AND DER INTEGRATION Confidential @ 2014 Innovari, Inc. 32

Start at the lowest system level – A single feeder • SCADA shows ~70 hours over 500 Amps. Maximum peak ~574 Amps • To manage 50 to 75 Amps on this feeder, 620 to 930 k. W of load management would be required to keep the feeder at or below 500 Amps Confidential @ 2014 Innovari, Inc. 33

Optimize Operational Goals This utility was seeking to optimize feeder usage to meet equipment operating limits and defer or eliminate the need for feeder and substation upgrades as previously planned Capacity threshold Also seeking to ‘bury’ load when wind generation peaked during off hours Confidential @ 2014 Innovari, Inc.

Real Time Monitoring and Twoway Closed Loop Control A combination of operating objectives can be achieved including peak load management to mitigate system constraints, load bury to optimize renewable energy resource production (in this example wind at night), and individual building management such as pre-cooling to shift load profiles, even a few hours a day. (EX: to balance the post solar peak) * Example illustrates 362 hours of dispatch on one feeder from a peak load reduction of 1 MW to a peak load bury of 275 k. W

Move to Substation Level Pursue the entire area with emphasis on feeder 291 -23 291 -21 291 -12 Delivered Site k. W Feeder 10 -30 30 -50 50 -100 100+ Total k. W 290 -21 2 1 0 0 100 290 -22 2 3 3 1 700 291 -12 2 2 0 1 300 291 -23 4 3 6 2 900 Total (all Feeders) ~2. 0 MW $4. 8 million feeder reconductor deferral on feeder 291 -23 $8. 7 million substation upgrade deferral on substation 291 $1. 4 million dollar ADSM/DER project 291 -23 Legend: Candidate > 10 k. W 30 – 50 k. W 50 – 100 k. W > 100 k. W Surveyed Approved Installed 70 -51 253 -21 290 -22 Confidential @ 2014 Innovari, Inc. 36

Targeted Expansion Liberty: 1. 4 MW – 1. 6 MW St Joseph: 1. 7 MW – 2 MW Substations – 6 Feeders – 14 Tomahawk: 1 MW – 1. 2 MW Blue Springs: 1 MW – 1. 2 MW Olathe: 3. 2 MW – 3. 4 MW Riley: 1 MW – 1. 2 MW Confidential © 2014 Innovari, Inc. CONFIDENTIAL © 2014 INNOVARI, INC. 37 37

Move to a System Level View 50 MW Project Benefits: 6 deferred substation upgrades $43 M 14 deferred feeder upgrades $35 M 50 MW peaker eliminated $92 M Significant Loss improvement, reduced emissions, improved customer satisfaction and regulatory relationship Benefits > $ 170 M Project cost: $35 M Confidential @ 2014 Innovari, Inc. 38

Who is going to balance this? Central or distributed? Utility operating load profiles are changing The “Traditional” daily load demand curve and forecasted changes “Traditional DR” focuses here Hawaii is already seeing a high penetration of Solar PV impacting grid operations, seen below as “Nessie Curve” Innovari delivers: Peak Load Management Controlled load ramp rates 24 Hrs & Load Bury CONFIDENTIAL © 2015 INNOVARI, INC. v 2. 0 39

Choosing a Sustainable, Lower Cost Asset to Optimize Your Grid Increases Customer Relationship and Loyalty Asset: Central Station Generator • Single, rate based Asset • Ongoing O&M costs • Fuel = Fossil fuels • Ongoing, highly variable • Increases grid losses • Negative environmental effects • No End-Use Customer interaction Asset: Virtual Power Plant (Approx 50% less cost) • Many distributed sites as one rate based Asset • Ongoing O&M costs • “Fuel” = Site Incentives • No fossil fuel or variable cost • Reduces grid losses • Positive environmental effects • End-Use Customer incentives increase customer loyalty Confidential @ 2014 Innovari, Inc. 40

By starting at Distribution you can balance while Improving Overall System Utilization Improvement Increase of 15% in system utilization (from 41% to 56% for 2. 5% of hours (219 hours) Increase of 19% in system utilization (from 41% to 60% for 5% of hours (438 hours) Confidential @ 2014 Innovari, Inc. 41

Electricity is the ONE thing that drives a country’s GDP Access to reliable, secure and affordable electricity defines a nations health, welfare, quality of life and overall success! Confidential @ 2014 Innovari, Inc. 42

Continue on this path? Load Duration Curve Example 4, 000 MW Peak 875 MW 3, 125 MW at 5% of Hours (438) ~$2 B of Generation Investment ~$500 M in T&D 250 MW “Industry Average Utilization of 43%” U. S. Energy Information Administration (EIA) Confidential @ 2014 Innovari, Inc. Billions spent on underutilized infrastructure Fuel costs and emissions increased through use of inefficient peaking power or hot stand-by Peaking units use increased and life decreased to attempt to balance renewables on the grid Customers resources stranded and not dramatically under utilized System technical losses and imbalance increasing over time 43

Or create a new one! Dramatically Improve System Utilization while create new resources to manage the grid of the future Confidential @ 2014 Innovari, Inc. 44

Industry Veterans with a global viewpoint as your partner Executive Team Experience Innovari Activity around the world Confidential @ 2014 Innovari, Inc. 45

THANK YOU! Questions? HEADQUARTERS 2900 N. Quinlan Park Rd Suite B 240, #215 Austin, TX 78732 512 318 2154 www. innovari. com NOC & TECHNOLOGY C 1 9 E 7 N 2 T 0 ENR W Tanasbourne Drive Suite 320 Hillsboro, OR 97124 BACKUP DATA CENTER Santa Clara, CA INNOVARI LATIN AMERICA INNOVARI INDIA Buenos Aires, Argentina Cali, Colombia Opening Soon - Panama Gurgaon (Delhi) Mumbai Opening Soon: Bangalore INNOVARI MIDDLE EAST Amman, Jordan Opening Soon – UAE

Utility Portal CONFIDENTIAL © 2014 INNOVARI, INC. 47

Available Capacity by Duration CONFIDENTIAL © 2014 INNOVARI, INC. 48

Historical and 24 hour forecast CONFIDENTIAL © 2014 INNOVARI, INC. 49

Request 2 hour dispatch - System CONFIDENTIAL © 2014 INNOVARI, INC. 50

Request Confirmation CONFIDENTIAL © 2014 INNOVARI, INC. 51

Event Performance CONFIDENTIAL © 2014 INNOVARI, INC. 52