GUINNESS EIS 6 GREEN ENERGY TRADING LIMITED HYDRO ENERGY TRADING LIMITED H14 ENERGY LIMITED SAPPHIRE ENERGY LIMITED.

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1 GUINNESS EIS 6 GREEN ENERGY TRADING LIMITED HYDRO ENERGY TRADING LIMITED H14 ENERGY LIMITED SAPPHIRE ENERGY LIMITED Investor Update May 2016

2 FUND SUMMARY Highlights - Guinness EIS 6 ( GEIS 6 ) subscriptions are fully invested into four companies: Green Energy Trading Limited, Hydro Energy Trading, H14 Energy Limited and Sapphire Energy Limited, which are all focused on the generation of Sustainable Energy; - EIS 3 certificates for Green Energy Trading Limited, Hydro Energy Trading and Sapphire Energy Limited have now been received and sent to investors; - H14 Energy commenced trading in early 2016, and EIS 3 certificates are expected by July 2016; - Valuations for all four companies are retained at the price of recent investment; - Green Energy Trading Limited is building a is constructing a 2 megawatt ( MW ) hydroelectric installation near Fort Augustus in Scotland; - Hydro Energy Trading Limited is building a 1MW hydro installation, also near Fort Augustus in Scotland; - H14 Energy is building multiple smaller hydro installations, including two run-of-river schemes in Scotland (one is 500kw and the other 135kw) and a 75kW Archimedes screw project in northern England; - Sapphire Energy has entered into a heads of terms to build a reserve power project in Nottinghamshire Background Your GEIS 6 subscription is invested across four companies: Green Energy Trading Limited, Hydro Energy Trading, H14 Energy Limited and Sapphire Energy Limited Company GEIS 6 Investment GEIS 6 Shareholding of Company Green Energy Trading Ltd 3,200,000 49% Hydro Energy Trading Ltd 3,250, % H14 Energy Ltd 4,055, % Sapphire Energy Ltd 4,055, % Total 14,560,990 GEIS 6 has co-invested into Green Energy Trading Limited with other Guinness EIS offerings. The co-investment was made on pari passu terms. All companies generate revenue through the sale of electricity, and benefit from the accompanying Feed-in Tariffs ( FiTs ) the subsidies available for the generation of renewable energy. The projects seek pre-accreditation before construction is commenced, which enables them to lock-in a subsidy rate for twenty years, adjusted by the Retail Price Index.

3 GREEN ENERGY TRADING LIMITED Green Energy Trading Limited ( GETL ) was set up to source, build, own and operate renewable generating projects in the UK, with a particular emphasis on hydroelectric installations. The Company commenced trading in 2014 with the installation of a small roof-mounted solar photovoltaic system. EIS 3 certificates were sent to Guinness EIS 6 investors in November In early 2015 GETL acquired the rights to a pre-construction hydroelectric project near Fort Augustus in Scotland known as Glen Buck. The site was acquired with planning permission, environmental approvals and a grid connection offer in place. The site has been leased to GETL for 50 years by the estate owners, who receive a percentage of the revenue generated by the project as rent. GETL appointed the developer, Renewable Design and Development Ltd ( RDD ), as project managers and agreed the appointment of civils contractors to install the inriver intakes and the penstock the pipes that are buried in the hillside and bring water to the turbine. The powerhouse, which houses the turbine, the generator and the switching equipment for interface with the national grid is located on the side of Loch Oich (connected to Loch Ness by the Caledonian Canal), some 300 metres below the level of the intakes. The drop in altitude (known as the head ) provides the pressure which enables the water to turn the turbine and generate electricity. Construction of the Glen Buck hydro project commenced in 2015 and is progressing well. All major elements of the scheme including intakes, powerhouse, penstock and impoundment pond are now nearing substantial completion as can be seen from the photographs below. Completion of civil works and turbine installation is expected in H with grid connection and commissioning scheduled for H Company Snapshot GEIS 6 Investment Cost: 3,200,000 GEIS 6 Investment Value: 3,200,000 (05/04/2016) GEIS 6 Shareholding: 49% Valuation Methodology: Price of Recent Investment Investment Cost Per Ordinary Share: 100p Investment Value Per Ordinary Share (05/04/2016): 100p Operational Partners Board of Directors Developer: RDD Jamie O Nians Civils Contractor: MAM Ltd James Rowe Turbine Supplier: Your Hydro Ltd Shane Gallwey Legal Adviser: Accountants: Brodies Greenbank

4 Glen Buck Hydro Project Construction Progress Glen Buck, Invergarry Glen Buck powerhouse location Glen Buck Intake 1 Complete Powerhouse Construction Primary Penstock Installation Impoundment Pond Construction

5 HYDRO ENERGY TRADING LIMITED Hydro Energy Trading Limited ( HETL ) was set up to source, build, own and operate renewable generating projects in the UK, with a primary focus on hydroelectric installations. HETL commenced trading in September 2015 with the installation of a small roofmounted solar photovoltaic system. EIS 3 forms were received from HMRC and sent to investors in February The Company acquired the rights to build a 1MW preconstruction hydroelectric project near Fort Augustus known as Munerigie from Renewable Design and Development Ltd ( RDD ). The project benefits from a 50 year lease term, with grid connection offer, Feed-in Tariff pre-accreditation, water abstraction license and planning permission already in place. The construction phase of the hydroelectric project commenced in December Initial work on site has been focussed on the build of new access tracks along the penstock route to the intakes and excavation of the power house. Once the access track is completed, the in-water works will be undertaken. These are required to be done in the summer months while water levels are lower. The penstock pipe will also be installed leading from the intakes to the powerhouse, where the turbine and generator are housed. The HETL project team are targeting completion and commencement of commercial generation of electricity by the end of Company Snapshot GEIS 6 Investment Cost: 3,250,000 GEIS 6 Investment Value: 3,250,000 (05/04/2016) GEIS 6 Shareholding: 100% Valuation Methodology: Price of Recent Investment Investment Cost Per Ordinary Share: 100p Investment Value Per Ordinary Share (05/04/2016): 100p Operational Partners Board of Directors Developer: RDD Andrew Walsh Civils Contractor: MAM Ltd Andrew Coull Turbine Supplier: Your Hydro Ltd Edward Guinness Legal Adviser: Accountants: Brodies Greenbank

6 Munerigie Hydro Construction Progress Construction of new access track Excavation of powerhouse foundation

7 H14 ENERGY LIMITED H14 Energy Limited ( H14 ) was set up to source, build, own and operate renewable generating projects in the UK, with a primary focus on hydroelectric installations. H14 development highlights commenced construction of Gleann Casaig project in March 2016 secured exclusivity and is targeting financial completion on two further hydro schemes, Stringer and Dunans, subject to completion of due diligence. Gleann Casaig 500kW run-of-river In January 2016 H14 acquired the rights to build a 500kW hydroelectric project located within the Loch Lomond and The Trossachs National Park known as Gleann Casaig from MEG Renewables. The Gleann Casaig project benefits from a 43 year lease, full planning permission, electricity grid connection offer, necessary permitting from the Scottish Environmental Protection Agency (SEPA) and pre-accreditation for Feed-in Tariffs from OFGEM. Construction of Gleann Casaig commenced on site in March H14 is targeting completion of construction and commencement of commercial generation of electricity in Q H14 Energy have appointed partners for the construction phase of Gleann Casaig including: Turbine supply: Gilbert Gilkes & Gordon Limited civils contractor: Luddon Construction Ltd Project Manager & Design: Green Cat Renewables Ltd Initial excavation of powerhouse Penstock route to connect intakes

8 Stringer 75kW Archimedes Screw H14 Energy is near to financial completion to build a 75KW Archimedes Screw Hydro installation on land owned by Stockport Council. A 40 year lease has been negotiated with the Council, a PPA agreed with a local energy user and contractual documentation is in advanced form for the construction and implementation of the project. Financial close is pending approval of a non-material amendment to planning associated with changes to the fish pass that has already been approved by the Environment Agency. H14 is targeting financial completion and commencement of the construction phase of the project in Q Dunans 135kW run-of-river H14 has secured heads of terms to acquire the rights to build a 135kW run of river hydro scheme in Argyll and Bute, Scotland located approximately 5km East of Loch Fyne. The site benefits from a forty year lease term, planning permission, electricity grid connection offer, necessary permitting from the Scottish Environmental Protection Agency (SEPA) and pre-accreditation for Feed-in Tariffs from OFGEM.. Subject to completion of due diligence and procurement of construction partners H14 is targeting financial completion and commencement of the construction phase of the Dunans project in Q Company Snapshot GEIS 6 Investment Cost: 4,055,495 GEIS 6 Investment Value: 4,055,495 (05/04/2016) GEIS 6 Shareholding: 100% Valuation Methodology: Price of Recent Investment Investment Cost Per Ordinary Share: 100p Investment Value Per Ordinary Share (05/04/2016): 100p Operational Partners Board of Directors Developer: Various James Rowe Civils Contractor: Various Edward Guinness Turbine Supplier: Legal Adviser: Accountants: Various Davidson Chalmers; DWF Greenbank

9 SAPPHIRE ENERGY LIMITED Sapphire Energy Limited ( Sapphire Energy ) was set up to source, build, own and operate renewable generating projects in the UK, with a particular emphasis on hydroelectric installations. The electricity generated is sold into the grid and where possible to local energy users directly. Sapphire commenced trading in December 2016 with the installation of a small unsubsidised solar site. EIS 3 certificates have now been received from HMRC and distributed to investors. In Q Sapphire Energy secured exclusivity with a developer and landowner to build, own and operate a reserve power generation facility in the Midlands. The proposed generation unit can run on diesel or biofuel and is intended to operate for very short periods of peak demand during winter months and will benefit from availability payments from the National Grid. Sapphire Energy is currently conducting due diligence on the project and agreeing terms. In our last update we reported that Sapphire Energy had signed a heads of terms to acquire the rights to build a small scale hydro scheme. This project is now being pursued by H14 Energy Limited, enabling Sapphire Energy to proceed with the larger reserve power project. Important Notice This Investor Update is for information only and does not form part of an offer or invitation to purchase, subscribe for or dispose of securities. All the information contained in it is believed to be reliable but may be inaccurate or incomplete; any opinions stated are honestly held at the time of writing, but are not guaranteed. The information contained in the Investor Update is preliminary in nature and subject to change. The contents should not therefore be relied upon. This Investor Update is provided for background purposes only. The value of these investments can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Guinness Asset Management Limited is authorised and regulated in the United Kingdom by the Financial Conduct Authority, 25 North Colonnade, Canary Wharf, London E14 5HS. Tel: eis@guinnessfunds.com Phone calls may be recorded We will provide the next investor update in October 2016