[sheet: Cover & Instructions]

Field	Value
Document Title	Wire Transfer Instructions — IPO Closing Funds Flow
Matter Number	C&H Matter No. 1015-00001
Client / Issuer	Calloway-Briggs Renewables Inc.
Proposed Transaction	Initial Public Offering of Common Stock — NYSE: CBRI
Aggregate Offering Size (Target)	$600,000,000 (inclusive of overallotment option)
Assumed IPO Price (Midpoint)	$22.00 per share
Par Value	$0.01 per share
Prepared By	Calderwood & Harkness LLP — Brendan Walsh / Natasha Forbes
Date Prepared	[________], 2022
Status	TEMPLATE — ALL ACCOUNT DETAILS TO BE CONFIRMED PRIOR TO CLOSING
IMPORTANT NOTE	All wire instructions must be verified by callback to authorized representatives at each receiving institution prior to closing. Do NOT rely solely on emailed instructions. ABA routing numbers and account numbers marked '[To be completed]' must be populated with confirmed information no later than two business days prior to the anticipated closing date.
Issuer's Counsel	Calderwood & Harkness LLP — 599 Lexington Avenue, New York, NY 10022
Underwriters' Counsel	Prescott, Danforth & Yee LLP — 1271 Avenue of the Americas, New York, NY 10020
Lead-Left Book-Runner / Representative	Hargrove Keating & Co. — 383 Madison Place, New York, NY 10017
Distribution	CONFIDENTIAL — For use by counsel, issuer, selling stockholder, and underwriters only. Do not distribute without prior authorization from Calderwood & Harkness LLP.

[sheet: Funds Flow Summary]

Line Item

GROSS PROCEEDS:

Gross Proceeds — Total Offering	$521,700,000	$78,300,000	$600,000,000	Base shares: 23,713,636; Overallotment shares: 3,559,091; Total: 27,272,727 at $22.00/share
Less: Underwriting discount (5.50%)	($28,693,500)	($4,306,500)	($33,000,000)	Gross spread: 5.50% of public offering price
Net Proceeds — Total	$493,006,500	$73,993,500	$567,000,000

ALLOCATION OF NET PROCEEDS:

Net Proceeds to CBR (Primary Offering)	$354,631,500	$73,993,500	$428,625,000	Primary base gross: $371,700,000 ($521.7M – $150.0M secondary); Net base: $371,700,000 – $17,068,500 discount = $354,631,500; Company receives all overallotment net proceeds
Net Proceeds to Pinnacle Vista Capital Partners III, LP (Secondary Offering)	$138,375,000	$0	$138,375,000	Secondary: $150,000,000 gross – $8,250,000 underwriting discount (5.50% × $150M); 6,818,182 shares
Less: Estimated Offering Expenses (Issuer)	~($3,500,000)	~($3,500,000)	SEC/FINRA fees, printing, legal, accounting, listing, transfer agent, misc.
Net Proceeds to CBR After Expenses	~$351,131,500	$73,993,500	~$425,125,000

ISSUER USE OF PROCEEDS — DISBURSEMENTS:

Term Loan B Prepayment — Veltrano National Bank	($200,000,000)	($200,000,000)	Partial prepayment of $650M Term Loan B (outstanding $612.5M)
Prepayment Premium (1.00%)	($2,000,000)	($2,000,000)	1.00% × $200,000,000
Cimarron Solar Project Funding	($100,000,000)	($100,000,000)	Construction funding — Cimarron Solar Development LLC
Subtotal Disbursements	($302,000,000)	($302,000,000)
General Corporate Purposes (Retained)	~$49,131,500	$73,993,500	~$123,125,000	Net of above disbursements and estimated expenses; subject to final pricing

[sheet: Underwriter Gross Spread]

Underwriter	Allocation %	Base Shares	Base Dollar Amount	Gross Spread — Base	Gross Spread — Overallotment	Gross Spread — Total Full Exercise
Hargrove Keating & Co.	40%	9,485,454	$208,679,988	$11,477,400	$1,722,600	$13,200,000
Linden Pratt Securities LLC	25%	5,928,409	$130,424,998	$7,173,375	$1,076,625	$8,250,000
Graymont Brothers Inc.	20%	4,742,727	$104,339,994	$5,738,700	$861,300	$6,600,000
Barfield Stuart & Co.	10%	2,371,364	$52,170,008	$2,869,350	$430,650	$3,300,000
Crane Whitley Capital LLC	5%	1,185,682	$26,085,004	$1,434,675	$215,325	$1,650,000
TOTAL	100%	23,713,636	$521,699,992	$28,693,500	$4,306,500	$33,000,000

GROSS SPREAD BREAKDOWN (Full Exercise):

Management Fee (20%)	20%	$5,738,700	$861,300	$6,600,000
Underwriting Fee (20%)	20%	$5,738,700	$861,300	$6,600,000
Selling Concession (60%)	60%	$17,216,100	$2,583,900	$19,800,000
Total Gross Spread	100%	$28,693,500	$4,306,500	$33,000,000
Underwriter Expense Reimbursement Cap (FINRA-related)	$350,000

[sheet: Issuer Wire Instructions]

Field	Detail
Recipient Entity	Calloway-Briggs Renewables Inc.
EIN	83-4027615
Recipient Address	4200 Ridgeline Parkway, Suite 1100, Austin, TX 78746
Receiving Bank	[To be completed]
Bank Address	[To be completed]
ABA Routing Number	[To be completed]
SWIFT Code (if applicable)	[To be completed]
Account Name	Calloway-Briggs Renewables Inc.
Account Number	[To be completed]
Reference / Memo	CBR IPO — Primary Offering Proceeds
Authorized Contact for Callback Verification	Priya Anand, SVP, Finance & Treasurer
Contact Phone	[To be completed]
Contact Email	[To be completed]

[sheet: Selling Stockholder Wire]

Field	Detail
Recipient Entity	Pinnacle Vista Capital Partners III, LP
General Partner	Pinnacle Vista Capital Management LLC
Recipient Address	900 Park Avenue, 38th Floor, New York, NY 10021
Secondary Shares Sold	6,818,182 shares
Gross Proceeds (Secondary)	$150,000,000
Less: Underwriting discount (5.50%)	($8,250,000)
Net Proceeds to Selling Stockholder	$138,375,000 (estimated, subject to final pricing)
Receiving Bank	[To be completed]
Bank Address	[To be completed]
ABA Routing Number	[To be completed]
SWIFT Code (if applicable)	[To be completed]
Account Name	Pinnacle Vista Capital Partners III, LP
Account Number	[To be completed]
Reference / Memo	CBR IPO — Secondary Offering Proceeds — PVCP III
Authorized Contact for Callback Verification	Hugh Pemberton, Co-Founder & Managing Partner
Alternate Contact	Diane Kovac, Co-Founder & Managing Partner
Contact Phone	[To be completed]
Contact Email	[To be completed]
Selling Stockholder's Counsel	Whitfield Archer & Doss LLP — Christine Navarro / Philip Archer
Counsel Address	51 West 52nd Street, New York, NY 10019

[sheet: Underwriter Wire Instructions]

Field	Hargrove Keating & Co.	Linden Pratt Securities LLC	Graymont Brothers Inc.	Barfield Stuart & Co.	Crane Whitley Capital LLC
Firm Name	Hargrove Keating & Co.	Linden Pratt Securities LLC	Graymont Brothers Inc.	Barfield Stuart & Co.	Crane Whitley Capital LLC
Firm Address	383 Madison Place, New York, NY 10017	200 Vesey Street, 40th Floor, New York, NY 10281	555 California Street, Suite 3200, San Francisco, CA 94104	101 Federal Street, Boston, MA 02110	600 Travis Street, Suite 4400, Houston, TX 77002
Role	Lead-Left Book-Runner / Representative	Joint Book-Runner	Joint Book-Runner	Co-Manager	Co-Manager
Allocation %	40%	25%	20%	10%	5%
Gross Spread — Full Exercise	$13,200,000	$8,250,000	$6,600,000	$3,300,000	$1,650,000
Receiving Bank	[To be completed]	[To be completed]	[To be completed]	[To be completed]	[To be completed]
Bank Address	[To be completed]	[To be completed]	[To be completed]	[To be completed]	[To be completed]
ABA Routing Number	[To be completed]	[To be completed]	[To be completed]	[To be completed]	[To be completed]
SWIFT Code	[To be completed]	[To be completed]	[To be completed]	[To be completed]	[To be completed]
Account Name	[To be completed]	[To be completed]	[To be completed]	[To be completed]	[To be completed]
Account Number	[To be completed]	[To be completed]	[To be completed]	[To be completed]	[To be completed]
Reference / Memo	CBR IPO — Underwriting discount — HK&Co.	CBR IPO — Underwriting discount — Linden Pratt	CBR IPO — Underwriting discount — Graymont	CBR IPO — Underwriting discount — Barfield Stuart	CBR IPO — Underwriting discount — Crane Whitley
Authorized Contact	Oliver Marchetti, MD, ECM	Rebecca Innes, MD, ECM	Kenneth Sato, MD, ECM	[To be completed]	[To be completed]
Contact Phone	[To be completed]	[To be completed]	[To be completed]	[To be completed]	[To be completed]

[sheet: Cover & Instructions]
Field | Value
Document Title | Wire Transfer Instructions — IPO Closing Funds Flow
Matter Number | C&H Matter No. 1015-00001
Client / Issuer | Calloway-Briggs Renewables Inc.
Proposed Transaction | Initial Public Offering of Common Stock — NYSE: CBRI
Aggregate Offering Size (Target) | $600,000,000 (inclusive of overallotment option)
Assumed IPO Price (Midpoint) | $22.00 per share
Par Value | $0.01 per share
Prepared By | Calderwood & Harkness LLP — Brendan Walsh / Natasha Forbes
Date Prepared | [________], 2022
Status | TEMPLATE — ALL ACCOUNT DETAILS TO BE CONFIRMED PRIOR TO CLOSING
IMPORTANT NOTE | All wire instructions must be verified by callback to authorized representatives at each receiving institution prior to closing. Do NOT rely solely on emailed instructions. ABA routing numbers and account numbers marked '[To be completed]' must be populated with confirmed information no later than two business days prior to the anticipated closing date.
Issuer's Counsel | Calderwood & Harkness LLP — 599 Lexington Avenue, New York, NY 10022
Underwriters' Counsel | Prescott, Danforth & Yee LLP — 1271 Avenue of the Americas, New York, NY 10020
Lead-Left Book-Runner / Representative | Hargrove Keating & Co. — 383 Madison Place, New York, NY 10017
Distribution | CONFIDENTIAL — For use by counsel, issuer, selling stockholder, and underwriters only. Do not distribute without prior authorization from Calderwood & Harkness LLP.
[sheet: Funds Flow Summary]
Line Item | Base Offering | Overallotment | Total — Full Exercise | Notes
GROSS PROCEEDS:
Gross Proceeds — Total Offering | $521,700,000 | $78,300,000 | $600,000,000 | Base shares: 23,713,636; Overallotment shares: 3,559,091; Total: 27,272,727 at $22.00/share
Less: Underwriting discount (5.50%) | ($28,693,500) | ($4,306,500) | ($33,000,000) | Gross spread: 5.50% of public offering price
Net Proceeds — Total | $493,006,500 | $73,993,500 | $567,000,000
ALLOCATION OF NET PROCEEDS:
Net Proceeds to CBR (Primary Offering) | $354,631,500 | $73,993,500 | $428,625,000 | Primary base gross: $371,700,000 ($521.7M – $150.0M secondary); Net base: $371,700,000 – $17,068,500 discount = $354,631,500; Company receives all overallotment net proceeds
Net Proceeds to Pinnacle Vista Capital Partners III, LP (Secondary Offering) | $138,375,000 | $0 | $138,375,000 | Secondary: $150,000,000 gross – $8,250,000 underwriting discount (5.50% × $150M); 6,818,182 shares
Less: Estimated Offering Expenses (Issuer) | ~($3,500,000) | ~($3,500,000) | SEC/FINRA fees, printing, legal, accounting, listing, transfer agent, misc.
Net Proceeds to CBR After Expenses | ~$351,131,500 | $73,993,500 | ~$425,125,000
ISSUER USE OF PROCEEDS — DISBURSEMENTS:
Term Loan B Prepayment — Veltrano National Bank | ($200,000,000) | ($200,000,000) | Partial prepayment of $650M Term Loan B (outstanding $612.5M)
Prepayment Premium (1.00%) | ($2,000,000) | ($2,000,000) | 1.00% × $200,000,000
Cimarron Solar Project Funding | ($100,000,000) | ($100,000,000) | Construction funding — Cimarron Solar Development LLC
Subtotal Disbursements | ($302,000,000) | ($302,000,000)
General Corporate Purposes (Retained) | ~$49,131,500 | $73,993,500 | ~$123,125,000 | Net of above disbursements and estimated expenses; subject to final pricing
[sheet: Underwriter Gross Spread]
Underwriter | Allocation % | Base Shares | Base Dollar Amount | Gross Spread — Base | Gross Spread — Overallotment | Gross Spread — Total Full Exercise
Hargrove Keating & Co. | 40% | 9,485,454 | $208,679,988 | $11,477,400 | $1,722,600 | $13,200,000
Linden Pratt Securities LLC | 25% | 5,928,409 | $130,424,998 | $7,173,375 | $1,076,625 | $8,250,000
Graymont Brothers Inc. | 20% | 4,742,727 | $104,339,994 | $5,738,700 | $861,300 | $6,600,000
Barfield Stuart & Co. | 10% | 2,371,364 | $52,170,008 | $2,869,350 | $430,650 | $3,300,000
Crane Whitley Capital LLC | 5% | 1,185,682 | $26,085,004 | $1,434,675 | $215,325 | $1,650,000
TOTAL | 100% | 23,713,636 | $521,699,992 | $28,693,500 | $4,306,500 | $33,000,000
GROSS SPREAD BREAKDOWN (Full Exercise):
Management Fee (20%) | 20% | $5,738,700 | $861,300 | $6,600,000
Underwriting Fee (20%) | 20% | $5,738,700 | $861,300 | $6,600,000
Selling Concession (60%) | 60% | $17,216,100 | $2,583,900 | $19,800,000
Total Gross Spread | 100% | $28,693,500 | $4,306,500 | $33,000,000
Underwriter Expense Reimbursement Cap (FINRA-related) | $350,000
[sheet: Issuer Wire Instructions]
Field | Detail
Recipient Entity | Calloway-Briggs Renewables Inc.
EIN | 83-4027615
Recipient Address | 4200 Ridgeline Parkway, Suite 1100, Austin, TX 78746
Receiving Bank | [To be completed]
Bank Address | [To be completed]
ABA Routing Number | [To be completed]
SWIFT Code (if applicable) | [To be completed]
Account Name | Calloway-Briggs Renewables Inc.
Account Number | [To be completed]
Reference / Memo | CBR IPO — Primary Offering Proceeds
Authorized Contact for Callback Verification | Priya Anand, SVP, Finance & Treasurer
Contact Phone | [To be completed]
Contact Email | [To be completed]
[sheet: Selling Stockholder Wire]
Field | Detail
Recipient Entity | Pinnacle Vista Capital Partners III, LP
General Partner | Pinnacle Vista Capital Management LLC
Recipient Address | 900 Park Avenue, 38th Floor, New York, NY 10021
Secondary Shares Sold | 6,818,182 shares
Gross Proceeds (Secondary) | $150,000,000
Less: Underwriting discount (5.50%) | ($8,250,000)
Net Proceeds to Selling Stockholder | $138,375,000 (estimated, subject to final pricing)
Receiving Bank | [To be completed]
Bank Address | [To be completed]
ABA Routing Number | [To be completed]
SWIFT Code (if applicable) | [To be completed]
Account Name | Pinnacle Vista Capital Partners III, LP
Account Number | [To be completed]
Reference / Memo | CBR IPO — Secondary Offering Proceeds — PVCP III
Authorized Contact for Callback Verification | Hugh Pemberton, Co-Founder & Managing Partner
Alternate Contact | Diane Kovac, Co-Founder & Managing Partner
Contact Phone | [To be completed]
Contact Email | [To be completed]
Selling Stockholder's Counsel | Whitfield Archer & Doss LLP — Christine Navarro / Philip Archer
Counsel Address | 51 West 52nd Street, New York, NY 10019
[sheet: Underwriter Wire Instructions]
Field | Hargrove Keating & Co. | Linden Pratt Securities LLC | Graymont Brothers Inc. | Barfield Stuart & Co. | Crane Whitley Capital LLC
Firm Name | Hargrove Keating & Co. | Linden Pratt Securities LLC | Graymont Brothers Inc. | Barfield Stuart & Co. | Crane Whitley Capital LLC
Firm Address | 383 Madison Place, New York, NY 10017 | 200 Vesey Street, 40th Floor, New York, NY 10281 | 555 California Street, Suite 3200, San Francisco, CA 94104 | 101 Federal Street, Boston, MA 02110 | 600 Travis Street, Suite 4400, Houston, TX 77002
Role | Lead-Left Book-Runner / Representative | Joint Book-Runner | Joint Book-Runner | Co-Manager | Co-Manager
Allocation % | 40% | 25% | 20% | 10% | 5%
Gross Spread — Full Exercise | $13,200,000 | $8,250,000 | $6,600,000 | $3,300,000 | $1,650,000
Receiving Bank | [To be completed] | [To be completed] | [To be completed] | [To be completed] | [To be completed]
Bank Address | [To be completed] | [To be completed] | [To be completed] | [To be completed] | [To be completed]
ABA Routing Number | [To be completed] | [To be completed] | [To be completed] | [To be completed] | [To be completed]
SWIFT Code | [To be completed] | [To be completed] | [To be completed] | [To be completed] | [To be completed]
Account Name | [To be completed] | [To be completed] | [To be completed] | [To be completed] | [To be completed]
Account Number | [To be completed] | [To be completed] | [To be completed] | [To be completed] | [To be completed]
Reference / Memo | CBR IPO — Underwriting discount — HK&Co. | CBR IPO — Underwriting discount — Linden Pratt | CBR IPO — Underwriting discount — Graymont | CBR IPO — Underwriting discount — Barfield Stuart | CBR IPO — Underwriting discount — Crane Whitley
Authorized Contact | Oliver Marchetti, MD, ECM | Rebecca Innes, MD, ECM | Kenneth Sato, MD, ECM | [To be completed] | [To be completed]
Contact Phone | [To be completed] | [To be completed] | [To be completed] | [To be completed] | [To be completed]

[sheet: Cover & Instructions]

GROSS PROCEEDS:

ALLOCATION OF NET PROCEEDS:

Record

Parties

Dates

Amounts