ECP Fund Managers Energy Capital Partners Management, LP (“ECP Management”) is a Delaware limited partnership and registered investment adviser that began operations in April 2005. ECP Management and its affiliated registered investment advisers (as described in Item 10 “Other Financial Industry Activities and Affiliations” below, together with ECP Management, the “Advisers” and, collectively, with their affiliated entities, “ECP”) provide investment advisory services to ECP’s private fund clients. Each Adviser, other than ECP Management, is registered in accordance with SEC guidance under the Advisers Act. The Advisers’ clients include Fund II (defined below), Fund III (defined below), Fund IV (defined below), Fund V (defined below), the Mezzanine Fund (defined below), Credit Solutions II (defined below), Renewable Power Fund Plus, LP (“RPF+”), ECP ETO (defined below), TG Growth Fund (defined below), Calpine CF (defined below, and together with Fund I, Fund II, Fund III, Fund IV, Fund V, the Mezzanine Fund, RPF+, ECP ETO, TG Growth Fund and Credit Solutions II, each a “Fund” and, collectively, the “Funds” and, together with any future private fund client managed by ECP, the “ECP Advised Funds”). The ECP Advised Funds are managed by ECP Management. Additionally, as further described in Item 11 “Participation or Interest in Client Transactions,” from time to time, the Advisers have provided and will continue to provide (or agree to provide) certain investors or other persons the opportunity to participate in co-invest vehicles (each a “Co-Invest Fund”) that will invest in certain portfolio companies alongside a Fund. Unless otherwise noted, references throughout this Brochure to “ECP Advised Fund” or “ECP Advised Funds” are generally intended to include the Co-Invest Funds. The Advisers are generally operated as a single advisory business and are managed by a board of partners whose members are Douglas Kimmelman, Peter Labbat, Tyler Reeder, Andrew Singer and Rahman D’Argenio (collectively, the “ECP Partners”). In addition, investment funds affiliated with Dyal Capital Partners (“Dyal”) (a subsidiary of Neuberger Berman) and Sumitomo Mitsui Trust Bank, Limited (“SMTB” and together with Dyal, the “Passive Partners”) hold an indirect passive minority right to certain cash flows in ECP Management and the general partners of the Funds. The Passive Partners have no authority over the day-to-day operations or investment decisions of the Advisers or the Funds, although each of the Passive Partners does have certain customary minority protection consent rights. The Advisers’ investment advisory services to the ECP Advised Funds include sourcing, evaluating, negotiating, overseeing, managing and disposing of investments in the energy industry. ECP tailors its advisory services in accordance with each Fund’s investment strategy as disclosed in such Fund’s offering documents. Further specific details of the Advisers’ advisory services are set forth in an ECP Advised Fund’s respective private placement memoranda, management agreements and partnership and subscription agreements (collectively, the “Fund Documents”) and are further described below in Item 8, “Methods of Analysis, Investment Strategies and Risk of Loss.” ECP Advised Funds As used in this Brochure:
• Fund II consists of Energy Capital Partners II, LP along with any related parallel vehicles, feeder vehicles, and alternative investment vehicles (collectively, “Fund II”).
• Fund III consists of Energy Capital Partners III, LP along with any related parallel vehicles, feeder vehicles and alternative investment vehicles (collectively, “Fund III”).
• Fund IV consists of Energy Capital Partners IV-A, LP along with any related parallel vehicles, feeder vehicles and alternative investment vehicles (collectively, “Fund IV”).
• Fund V consists of ECP V, LP along with any related parallel vehicles, feeder vehicles and alternative investment vehicles (collectively “Fund V”).
• ECP ETO consists of ECP Energy Transition Opportunities Fund, LP along with any related parallel vehicles, feeder vehicles and alternative investment vehicles (collectively, “ECP ETO”).
• TG Growth Fund consists of ECP Terra-Gen Growth Fund, LP along with any related parallel

vehicles, feeder vehicles and alternative investment vehicles (collectively, the “TG Growth Fund”).
• Calpine CF consists of ECP Calpine Continuation Fund, LP along with any related parallel vehicles, feeder vehicles and alternative investment vehicles (collectively, the “Calpine CF” and, together with Fund II, Fund III, Fund IV, Fund V, TG Growth Fund and ECP ETO, the “Equity Funds”).
• the Mezzanine Fund consists of Energy Capital Partners Mezzanine Opportunities Fund, LP along with any related parallel vehicles, feeder vehicles and alternative investment vehicles (collectively, the “Mezzanine Fund”).
• Credit Solutions II consists of Energy Capital Partners Credit Solutions II-A, LP along with any related parallel vehicles, feeder vehicles and alternative investment vehicles, (collectively, “Credit Solutions II” and, together with the Mezzanine Fund, the “Credit Funds”). Investors in the ECP Advised Funds participate in the overall investment program for the applicable Fund but could be excused from a particular investment due to legal, regulatory, or other applicable constraints. Co-Invest Funds will be formed from time to time to co-invest alongside the main Funds (as described above) in certain portfolio companies. The Advisers have offered and may in the future offer certain investors or other persons the opportunity to invest directly in a portfolio company. The Advisers have sole discretion in offering such investment opportunities (through a Co-Invest Fund or otherwise), and such investment opportunities typically will be offered to some and not to other Fund or third-party investors. In circumstances where an entire investment could be made by a Fund, the Advisers may still allocate a portion of such investment to one or more Co-Invest Funds or other investors in accordance with the applicable Fund Documents and the Advisers’ allocation policy. Additionally, from time to time, the Advisers have entered into, and will in the future enter into, fund-of-one or other separately managed account-type arrangements (any such vehicles, including without limitation RPF+, the “Tailored Vehicles”). Such arrangements generally are tailored to a specific investor or group of investors and typically are expected to target different investment returns and/or different or narrower investment strategies than those pursued by the Equity Funds or the Credit Funds and are also generally managed on a non-discretionary basis. The Tailored Vehicles may also invest in different parts of the capital structure than the Equity Funds or the Credit Funds or hold minority positions in portfolio companies. The Advisers have entered, and may in the future enter, into side letters or other similar agreements with certain investors that have the effect of establishing rights under, supplementing, or altering a Fund’s partnership agreement or an investor’s subscription agreement. Such rights or alterations could be regarding economic terms, fee structures, excuse rights, information rights, investment limitations, co-investment rights (including the provision of stated co-invest opportunities or priority allocation rights to, for example, limited partners who have capital commitments in excess of certain thresholds to one or more ECP Advised Funds), or transfer rights, among others. For the most part, any rights established, or any terms altered or supplemented will govern only the investment of the specific investor and not the terms of a Fund as whole. Certain such additional rights but not all rights, terms or conditions may be elected by certain sizeable investors with “most favored nations” rights pursuant to a Fund’s limited partnership agreement. In addition, the Advisers generally make such side letters relating to a particular Fund available to all limited partners of such Fund. The information provided above about the investment advisory services provided by the Advisers is qualified in its entirety by reference to the Fund Documents of the ECP Advised Funds. As of December 31, 2022, the Advisers managed approximately $18,218,000,000 in client assets on a discretionary basis and approximately $418,761,000 in client assets on a non- discretionary basis. Since inception, the Advisers have raised over $27 billion in capital commitments.