Subject: Mesa Power Group, LLC v. Government of Canada 

Deloitte LLP (“Deloitte”) has been retained, as professional advisors, by Appleton & Associates International Lawyers (“Counsel”) in connection with Counsel’s representation of Mesa Power Group, LLC (the “Company” or “Mesa Power”) in respect of the above-noted mater. 

We have been asked by Counsel to prepare a reply valuation report which is in part in response to the expert report of Christopher Goncalves of Berkeley Research Group (“BRG”) dated February 28, 2014, including the technical annexes, the attachments and the exhibit list (the “BRG Report”) and Canada’s Counter-Memorial and Reply on Jurisdiction dated February 28, 2014 on issues related to damages (“Canada’s Counter-Memorial”). The BRG Report provided comments and analysis in respect of our initial expert report dated November 18, 2013. 

Our report has been prepared in conformity with the Practice Standards of The Canadian Institute of Chartered Business Valuators (the “CICBV”) for an Expert Report1. No part of Deloitte’s fee is contingent upon the conclusions reached in our report or any action or event contemplated in, or resulting from the use of, the report. The principal experts and other staff involved in the preparation of the report acted independently and objectively in completing this engagement.