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style="font-size:12pt;font-family:Calibri;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;">Dear
investor,</span></p>
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style="font-size:12pt;font-family:Calibri;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;"></span><br>
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style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;text-align:
justify;"><span
style="font-size:12pt;font-family:Calibri;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;">As
you will know the Sheffield Renewables 2016 Share offer was very
successful, raising enough money for two new solar PV schemes.
The first of which was successfully completed earlier this year
at Lembas Wholefood wholesalers. </span></p>
<br>
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style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;text-align:
justify;"><span
style="font-size:12pt;font-family:Calibri;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;">The
second scheme was due for installation later this month on a
social housing site in the city. However due to the tragic
events at the Grenfell Tower in London, and the subsequent
ongoing investigations and remediation work, we are not able to
undertake any of the work on our proposed site. A very
significant amount of work has been undertaken to develop the
second scheme to the position that we were about to install the
panels, which we hope not to lose. However, due to uncertainty
over how long it will take before being able to continue work on
this site, we will need to find another project to develop.</span></p>
<br>
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style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;text-align:
justify;"><span
style="font-size:12pt;font-family:Calibri;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;">This
set-back means that we will not be able to get a second project
up and running as quickly as we had hoped, which means that we
will not be able to generate income as quickly. This
potentially has the impact of affecting the returns to
investors, but we hope that we will be able to find a new scheme
soon to minimise this. </span></p>
<span
style="font-size:12pt;font-family:Calibri;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;"><br>
Regards</span><br>
<span
style="font-size:12pt;font-family:Calibri;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;">Richard
Collins</span><br>
<p dir="ltr"
style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;text-align:
justify;"><span
style="font-size:12pt;font-family:Calibri;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;">Chair
of the board of Sheffield Renewables</span></p>
<pre class="moz-signature" cols="72">--
Sheffield Renewables Ltd is a registered society under The Co-operative & Community Benefit Societies Act 2014, reg.no. IP030736</pre>
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