Contract analysis

Clause-by-clause risk read on any document of the firm. Pick a contract, or open any document from a matter.

mda-section.docx

High · 0 Medium · 1 Standard · 4

1. Overview Standard

⚑ Commercial term

1. Overview 1.1 Company Description Calloway-Briggs Renewables Inc. ("CBR," the "Company," "we," "us," or "our") is a Delaware-incorporated, Texas-headquartered developer, owner, and operator of utility-scale solar photovoltaic ("solar PV"), onshore wind, and battery energy storage systems ("BESS") projects across the United States. Our corporate headquarters are located at 4200 Ridgeline Parkway, Suite 1100, Austin,

2. Key Components of Our Results of Operations Standard

⚑ Commercial term

2. Key Components of Our Results of Operations The following is a description of the key components of our consolidated results of operations. 2.1 Revenue. We derive our revenue from the following principal sources: PPA Revenue. The majority of our revenue is derived from long-term PPAs with investment-grade utility and C&I counterparties. These agreements typically have terms ranging from 10 to 25 years and provide

3. Results of Operations Medium

⚑ Forum / governing law

3. Results of Operations 3.1 Comparison of Fiscal Year Ended December 31, 2021 vs. Fiscal Year Ended December 31, 2020 The following table sets forth selected consolidated statements of operations data for the periods indicated: 3.1.1 Revenue. Revenue for the fiscal year ended December 31, 2021 was $487.3 million, an increase of $85.8 million, or 21.4%, compared to $401.5 million for the fiscal year ended December 31

4. Adjusted EBITDA Reconciliation Standard

⚑ Commercial term

4. Adjusted EBITDA Reconciliation 4.1 Reconciliation Table The following table presents a reconciliation of Adjusted EBITDA to net income (loss), the most directly comparable GAAP measure, for each of the periods presented: Non-recurring and other items for each period consisted primarily of the following: • FY 2019: $8.6 million of acquisition-related costs in connection with the portfolio acquisition of two operati

5. Liquidity and Capital Resources Standard

⚑ Commercial term

5. Liquidity and Capital Resources 5.1 Overview. We have historically funded our operations, project development, and capital expenditures through a combination of project-finance debt, corporate-level debt, tax-equity investments, and equity contributions from our investors, including Pinnacle Vista Capital Partners III, LP and our founders and management team. Our principal sources of liquidity include cash on hand