HA Sustainable Infrastructure Capital (HASI) Investor presentation summary

Strategic positioning and market opportunity

• Focuses on sustainable infrastructure assets with over $16 billion in managed assets and a $7.6 billion on-balance sheet portfolio as of Q1 2026.

• Targets the $4 trillion U.S. sustainable infrastructure investment opportunity forecast through 2050, driven by rising power demand, electrification, and supportive policy such as the One Big Beautiful Bill Act.

• Investments span grid-connected renewables, behind-the-meter solar/storage, energy efficiency, and fuels/transport/nature, with significant exposure to utility-scale and distributed energy projects.

• Maintains programmatic partnerships with over 150 clients, with more than 80% of transaction volume from repeat clients in 2024-25.

• Illustrative investments include large-scale wind, residential solar, RNG, community solar, fleet decarbonization, and ecological restoration.

Financial performance and growth

• Achieved a 10% CAGR in adjusted EPS since 2014, with adjusted EPS of $2.70 and adjusted ROE of 13.4% in 2025.

• Managed assets more than doubled since 2020, reaching $16.4 billion at Q1 2026.

• Annual investment originations grew over 150% since 2021, remaining diversified across asset classes.

• New portfolio asset yields rose to 10.5% in Q1 2026, with resilient margins across interest rate environments.

• Adjusted recurring net investment income grew at a 31% CAGR from 2020 to 2025, reaching $362 million in 2025.

Capital structure, funding, and risk management

• Investment grade status lowered debt costs by over 130 bps, enabling longer maturities and fewer market dislocations.

• Diverse funding platform includes unsecured notes, term loans, commercial paper, co-investment vehicles, and equity.

• CCH1 co-investment vehicle with KKR reduces reliance on capital markets and enhances ROE through fee income and private capital access.

• Maintains ample liquidity ($2.3 billion as of Q1 2026) and a laddered debt maturity profile extending to 2056.

• Robust risk management framework with strong credit performance; average annual recognized loss on managed assets is 0.13%.