Sales of 248 Liberty turbines (620 megawatt (MW)) in 2008 vs. 9 turbines in 2007 (23 MW).

Cash balance of $209.0 million at December 31, 2008 vs. $114.4 million at December 31, 2007. Net cash outflow to date is in line with expectations and reflects remediation activities and certain customer order deferrals to 2010. Current cash balance approximates $80.0 million, which has been trending upwards, and is anticipated to be higher at the end of 2009 due to expected net cash inflows in the second half of year.

Although not required, alternatives are under review to further strengthen the balance sheet and an application has been submitted to U.S. Department of Energy for loan guaranty support.

Successfully ramped up production: 289 turbines (723 MW) were produced and 324 turbines (810 MW) installed in 2008.

Operational milestones achieved: as of April 2009, over 335 turbines (838 MW) commissioned and 178 turbines exceeded 1,000 operating hours threshold.

Loss reflects $235.0 million of charges primarily incurred for remediation activity and lower than expected revenues from turbine sales due to late grid interconnections at customers’ sites.

Blade skin remediation over 50% complete and expected to be fully completed in Q3 2009. All expected remediation costs are provided for in 2008 financials.

Expect to deliver around 300 to 325 turbines (750 MW to 813 MW) in 2009. 84 turbines commissioned through April 2009 are in line with expectations.

Reduced costs in line with lower production levels: total operating costs expected to be reduced by at least 15% in 2009 (excluding fleet services) including 11% headcount reduction.

2009 cash flow savings target of $125 million from lower component costs and implementation of new working capital model.

2009 full year EBIT margins expected to benefit from lower component, manufacturing and remediation costs, offset somewhat by higher steel costs in first half of 2009 and lower production volumes during the year.

Clipper’s 50% stake in 5,050 MW Titan wind project as of October 2008 includes a turbine supply agreement of up to 2,020 Liberty turbines.

Clipper’s current 10,000 MW development asset portfolio includes 800 MW of advance stage projects.

Clipper Windpower Chief Executive Officer and President Doug Pertz commented:

“Clipper’s tremendous revenue growth in 2008 highlights our important transition from a technology development company to the delivery of industrial-scale production of the 2.5 MW Liberty turbine. We are aggressively meeting the challenges presented by the current difficult market conditions, while ensuring we retain the flexibility to scale up the business when growth returns. The Obama Administration has set a goal of doubling U.S. wind generating capacity within three years and has approved legislation to support technologies essential to accelerating wind deployment.”