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99MW Nearshore Wind FarmMagdalena RiverBarranquilla, ColombiaINTRODUCED TO YOU BY

HIGHLIGHTSSituated in Sitionuevo, Magdalena,Colombia, between 11°04'50"N 74°50'34"Wand 11°03'09"N 74°49'45"W.The project is located on the Delta of theMagdalena River near Barranquilla,Colombia.On Phase Ready to Build (RTB) having metall Environmental, Legal, Social, Operational,and Financial requirements set by theColombian Authorities.The project is expected to commenceoperations in Q2-2026.Developer is a Special PurposeBusiness (SPB) established todevelop a 99.9MW Wind Farmin Colombia.

Located in Barranquilla, Colombia'sfourth largest and fastest-growing citywith a population of 2 million, featuringa large industrial district, and fluvial port. The first Wind Farm in the Delta of theMagdalena River area, benefiting fromColombia's longest periods of strongwinds, achieving 54% efficiency.Currently has three PPA options, onefrom a Colombian public company, andthe other from two independent privatecompanies. Strategic location for H2production.The project is all set for construction andto become operational in Colombiawithin the next two years.KEYFACTORS

Feasibility StudiesMeteorological stationinstalled in 2021.EIA studies.Connection pointstudies registered.Hydraulic studies.Wind park financialanalysis feasibility.RTB EIA approved Dec 2023.Cormagdalena Non-portconcesion by April 2024.Resolution for connectionpoint (UPME Phase II) byJune 2024.Equity partner investment.Financial vehicle negotiationand approval.Wind park final design,engineering studies, and EPCcontract negotiationConstructionSubaquatic cable production.Wind turbine production.Connection EIA approval.Construction EIA studies.Detail engineering andFoundations construction.Wind turbine installation.PPA contract signature.OperationEolic energy generationand PPA contractfulfillment.2021-2023 20242025- Q2 2026Q2-2026 + 25 yearsGENERAL TIMELINE AND MILESTONES ACHIEVED

MILESTONESACHIEVEDMeteorological station installed since12/2021.EIAEnvironmental Impact Assessment)License approved on Dec 2023 byCORPAMAG.UPME Phase I achieved, and UPME PhaseII by June 2024:Interconnection Feasibility and EIAStudies registered at UPME.Definition of the substation underway:UPME resolution document expected byJune 2024 for UPME Phase II approval.A Non-Port use concession is beingprocessed by the CORMAGDALENAAuthority.Hydraulic study completed. Concessionapproval expected by April 2024.

1 2345 678 9 1011 120.000001000.000002000.000003000.000004000.000005000.000006000.000007000.00000WIND ROSE Monthly Energy Production(MW)4,740 productionhours per year54.2% Capacity Factor

TECHNICAL DATAUp to 12 9.5 MW Wind TurbinesNET 99.9 MW474GW PER YEAR54.2% CAPACITY FACTOR4,740 PRODUCTION HOURS PER YEAR10 KM TO CONNECTION POINT26 MONTHS ENVIRONMENTAL DATA ON- SITEEIA APPROVEDFPO Q2 2026

Net Cashflow ($MM)01 2345 678 9 10-60.00000-40.00000-20.000000.0000020.0000040.0000060.00000Loan 9.6% annual interest rate15-year loan1-year principal graceperiod after operationstarts.25% owner equityCOP$284/KWh for PPAcontract$3.1 million annual ENFICCASSUMPTIONS

INVESTMENTPROPOSALSell the project RTB, orDevelop it through an equity injection from qualifiedinvestors ($37.1MM) for 80% of the company shares. Fromthis amount, current shareholders cash out $5.53MM asretribution from the investment to take the project to RTB.A $150MM loan will be required to finance the constructionof the Wind Farm. For the development option, a 25% total owner-equity ratiois proposed in the projected financial model, including aPPA LOI, which would be provided by developer if required. Developer is looking for one ofthe two following options:

INVESTMENTHIGHLIGHTS$200 million investment (at $2MM perMW)25% owners' equity - 75% Loan 50% of investment with income taxexemption0% duties and add-value tax22.4% IRR4.2 years of payback of equity$3.1MM annual payment as reliabilitycharge - ENFIC(*)$13.5 per MWh estimated productioncost without depreciation(*) ENFICC represents an eligibility for payment mechanism through ameasure of the guaranteed energy capacity that power plants must beable to supply to ensure grid reliability

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