Kern County Energy Summit November 13, 2013

1. Kern County Energy Summit November 13, 2013 MidAmerican Solar, LLC Paul Caudill – President

2. Presentation Agenda • Introduction to MidAmerican • MidAmerican Renewables – Solar and Wind Projects • Our Goal: Be A Good Neighbor and Community Member

3. Introduction to MidAmerican 3

4. Business Structure 89.8% Regulated Electric Utility Regulated Electric and Gas Utility Regulated Gas Transmission Holding Company Independent Electric Power Producer Real Estate Brokerage Regulated Gas Transmission MidAmerican Renewables Northern Powergrid (Northeast) Ltd. U.K. Regulated Electric Distribution Northern Powergrid (Yorkshire) plc U.K. Regulated Electric Distribution

5. MidAmerican Renewables – Solar and Wind Projects 5

6. MidAmerican Renewables Organization MidAmerican Geothermal MidAmerican Wind MidAmerican Solar MidAmerican Hydro In operation: 327 MW Steve Larsen, president Bishop Hill II: 81 MW Pinyon Pines: 300 MW Tom Budler, president Agua Caliente 142 MW Topaz: 550 MW Solar Star: 579 MW Paul Caudill, president Wailuku: 10 MW

7. Topaz Solar Farms Summary • Topaz Solar Farms will deliver 550 MWAC at the point of interconnection when completed in February 2015 • Located on 4,700 project acres in San Luis Obispo County, California • 25-year power purchase agreement with Pacific Gas and Electric Company • Project uses more than 8 million First Solar Series 3 thin-film modules, installed under a construction agreement with First Solar • 25-year operations and maintenance agreement with First Solar • Supported by $1.1b in project financing with a blended interest rate of 5.55% • $850.0m debt tranche issued February 2012 • $250.0m debt tranche issued April 2013, following project rating upgrade to BBB/Baa2

8. Topaz Site Orientation San Luis Obispo ~ 1 hour west Bakersfield ~ 1.2 hours east

9. Topaz Site Aerial View –September 2013 Substation & Switchyard Construction Office Area Legend Remaining Blocks - Layout Project & Stewardship Land Transmission Line Carrisa Plains School

10. Topaz Vegetation Management – Sheep Grazing

11. Agua Caliente Summary • Agua Caliente will deliver 290 MWAC at the point of interconnection and is located on 2,340 acres in Yuma County, Arizona • 25-year power purchase agreement with Pacific Gas and Electric Company • Project uses 4.9 million First Solar Series 3 thin-film panels, installed under a construction agreement with First Solar • 25-year operations and maintenance agreement with First Solar • NRG Energy agreed to sell 49% of project to MidAmerican Renewables in mid-December 2011

12. Solar Star 1 and 2 Summary • Solar Star 1 and Solar Star 2 will deliver 579 MWAC at the point of interconnection when completed in October 2015 • Located on 4,000 acres in Kern County and Los Angeles County, California • 20-year power purchase agreement with Southern California Edison • Long-term transmission secured with Southern California Edison through large generator interconnection agreements effective December 2011 • Construction agreements executed with SunPower Corporation. • A 20-year operations and maintenance agreement executed with SunPower Corporation • Both projects utilize SunPower E20 435-watt monocrystalline silicon modules and the T0 single axis tracking technology • The projects will use approximately 1.7m panels • First tranche of debt offering was for $1.0b at 5.375%

13. Solar Star Projects Site Orientation Pinyon Pines 1 and 2 Whirlwind Substation Solar Star 1 and 2 Future Sempra Site

14. Solar Star Major Project Milestones • December 2012 MidAmerican Renewables purchased 100% of the project • January 2013 Construction begins on-site • December 2013 57 MW in-service • April 2014 170 MW in-service • July 2014 243 MW in-service • December 2014 354 MW in-service • June 2015 505 MW in-service • October 2015 Final block placed in-service (579 MW)/Guaranteed substantial completion date

15. Solar Star Aerial View – October 2013

16. Our Goal: Be A Good Neighbor and Community Member 16

17. Solar Star Project – Economic and Environmental Benefits • Approximately 650 construction jobs created over the three-year construction period • More than $500 million in regional economic impact • 15-20 permanent employees once plant is completed and goes in to operations • MidAmerican Solar team includes three local hires in key positions • Avoidance of more than 570,000 ton of carbon dioxide emissions annually – equivalent of removing 2 million vehicles from highways over 20 years • Clean energy will power equivalent of 255,000 homes

18. Focus on Dust Control Through Construction Practices • “Light on Land” approach, similar to solar projects in Europe • Grading is minimized, majority of project ground is not disturbed by construction practices • Environmentally friendly binding agent is applied to roadways to help seal areas that are heavily traveled • Active construction roads are watered regularly • This usage is significantly less than when project site was utilized for agricultural purposes and irrigated • Environmental compliance efforts include monitoring wind speeds and air opacity • Construction has been stopped on number of occasions due to high winds

19. Be A Good Neighbor and Community Member • Customer Service and Community Relations • Introduced MidAmerican Solar to the local community with a groundbreaking celebration in April 2013 • Management team members attend meetings with the Rosamond Municipal Advisory Committee, the Rosamond Community Service District and the Rosamond Chamber of Commerce • 2013 Highlights • The Solar Star projects newsletter was developed • A project hotline was established • Purchased a handicap lift chair for the community pool in Rosamond • Contributions to the Southern Kern Unified School District Athletic Programs • Joined the Kern County Economic Development Corporation, the Lancaster Chamber of Commerce, the Rosamond Chamber of Commerce

20. MidAmerican Solar Thanked at Football Game