Petroleum Oil, Ethanol, and Biodiesel Refineries Federal Appraisal provides business, real property, and personal property appraisals of petroleum, ethanol, and bio-diesel refineries throughout the world, for numerous purposes including investing, tax accounting, and investor reporting. FA appraisers have been accepted as expert witnesses concerning their refinery appraisals. Refinery appraisals are complex issues, often requiring a multi-discipline appraisal analysis. Merely establishing the proper legal, accounting, and engineering context for the appraisal is often complicated, but this is an exercise that the experts at Federal Appraisal can guide their clients through. Once appraisal contexts are established, the experts at FA will often work with legal, accounting, and engineering experts, as well as real/personal property and business appraisers to complete the appraisal. We are a member of Lee Enterprises Consulting, Inc (LEC), who specialize in ethanol and biodiesel refineries worldwide. If you would like to read more information about LEC, please visit their website below. Lee Enterprises Consulting, Inc “The World’s Premier Bioeconomy Consulting Group” Website: www.lee-enterprises.com

Power Plants and Electric Utility Properties Power Plants and Electricity Assets Federal Appraisal, LLC provides appraisals to the power industry, worldwide. Power properties include power generation facilities (generation, transmission, and distribution). Federal Appraisal services all types of power properties for IRS and SEC reporting purposes, property tax appeals, investment and lending underwriting, and other purposes. Power Generation Facilities We are one of the few providers capable of offering income and cost analyses for power generation facilities in the US and around the world. The power industry is undergoing tremendous changes because of the de-regulation of the industry, new technologies, and hydro-fracking for gas. We service transmission and distribution facilities around the country and around the world, including: nuclear coal natural gas (simple and combined cycle) hydro oil solar (photo voltaic or concentrated thermal wind battery storage geothermal pumped storage (water or air) transmission and distribution (T&D) Our appraisals are utilized for: litigation developments, feasibility, or market studies financing tax and investor reporting, IRS, depreciation, cost segregation, purchase price allocation, ASC 805 property tax assessment and appeals acquisition or disposition due diligence See our other pages on Power Plant Appraisal.

Graphical Survey Results View Tabular Survey Results 1. When appraising a power plant within a regulated marketplace, for acquisition/disposition purposes, what weighting do you typically give to each of the following approaches to value? 2. When appraising a power plant within a deregulated marketplace, for acquisition/disposition purposes, what weighting do you typically give to each of the following approaches to value? 3. When appraising a power plant within a regulated marketplace, for property tax assessment purposes, what weighting do you typically give to each of the following approaches to value? 4. When appraising a power plant within a deregulated marketplace, for property tax assessment purposes, what weighting do you typically give to each of the following approaches to value? 5. Do you ever utilize different approaches to value for different types of power plants? 6. When determining the market value of power plants via the income approach, what weighting do you typically give to each of the following approaches? 7. When determining the market value of a power plant via the cost approach, what weighting do you typically give to each of the following approaches? 8. What are your primary purposes of the appraisal work regarding power plants? (Please identify your top three purposes) 9. In what regions do you primarily practice? Return to Approaches for Power Plaints

Tabular Survey Results View Graphical Survey Results Return to Approaches for Power Plaints