Portfolio Update - MaxWest

Leaf Clean Energy ("Leaf" or the "Company")

6 June 2014

Portfolio Update - MaxWest investment written to nil

Leaf Clean Energy have been advised by the Company's representatives on the Board of MaxWest Environmental Systems, Inc., ("MaxWest") that it is experiencing severe financial difficulties. Maxwest recently requested further funding from Leaf and other investors to finance its business but neither Leaf nor any other investor made an additional investment.

The Company has a 44.0% interest in MaxWest and as at 31st December 2013 the Company valued its interest as US$17.2 mn (out of a total portfolio value of US$162.6mn). On the basis of this new information the Company has written the value of the investment to nil.

Enquiries:

Leaf Clean Energy +1 (415) 264 5096

Mark Lerdal, Chairman

Cenkos Securities plc 0207 397 8980

Ivonne Cantu, Nomad