EXHIBIT
4.5


 


Addendum,
effective January 1, 2020, to Power Supply Agreement dated June 3, 2010


(ELECTRICITY
SUPPLY CONTRACT AT FREE MARKET PRICES BETWEEN


ELECTROPERÚ
AND CEMENTOS PACASMAYO)


 


Term:
Through May 31, 2026


 


Maximum
contracted power:


 





	 	 	MAXIMUM POWER (MW)	 	 
	 	 	 	 	 	2012	 	 	 	 	 	 	 	 	2015	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Jan. 1	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	Jan. 1	 	 	Jul. 1	 	 	 	 	 	 	 	 	to	 	 	15-31	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	To	 	 	to	 	 	 	 	 	 	 	 	Dec. 14	 	 	Dec.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Delivery point	 	2011	 	 	Jun. 30	 	 	Dec. 31	 	 	2013	 	 	2014	 	 	(STAGE I)	 	 	(STAGE I)	 	 	2016	 	 	2017	 	 	2018	 	 	2019	 	 	2020	 	 	2021	 	 	2022	 	 	2023	 	 	2024	 	 	2025	 
	GUADALUPE SUBSTATION 80 KV	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	- Peak hours	 	 	16.0	 	 	 	16.0	 	 	 	33.0	 	 	 	42.0	 	 	 	37.5	 	 	 	40.0	 	 	 	28.0	 	 	 	28.0	 	 	 	34.0	 	 	 	28.0	 	 	 	36.5	 	 	 	28.0	 	 	 	28.0	 	 	 	28.0	 	 	 	28.0	 	 	 	28.0	 	 	 	28.0	 
	- Off-peak hours	 	 	24.0	 	 	 	24.0	 	 	 	40.0	 	 	 	50.0	 	 	 	50.0	 	 	 	40.8	 	 	 	31.0	 	 	 	30.0	 	 	 	30.0	 	 	 	40.0	 	 	 	43.0	 	 	 	44.0	 	 	 	44.0	 	 	 	44.0	 	 	 	44.0	 	 	 	44.0	 	 	 	44.0	 
	PIURA OESTE SUBSTATION 220 KV	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	- Peak hours	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	4.0	 	 	 	16.0	 	 	 	16.0	 	 	 	16.0	 	 	 	16.0	 	 	 	16.0	 	 	 	16.0	 	 	 	16.0	 	 	 	16.0	 	 	 	16.0	 	 	 	16.0	 	 	 	16.0	 
	- Off-peak hours	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	14.2	 	 	 	24.0	 	 	 	22.0	 	 	 	22.0	 	 	 	22.0	 	 	 	22.0	 	 	 	22.0	 	 	 	22.0	 	 	 	22.0	 	 	 	22.0	 	 	 	22.0	 	 	 	22.0	 
	TOTAL	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	- Peak hours	 	 	16.0	 	 	 	16.0	 	 	 	33.0	 	 	 	42.0	 	 	 	37.5	 	 	 	44.0	 	 	 	44.0	 	 	 	44.0	 	 	 	50.0	 	 	 	44.0	 	 	 	52.5	 	 	 	44.0	 	 	 	44.0	 	 	 	44.0	 	 	 	44.0	 	 	 	44.0	 	 	 	44.0	 
	- Off-peak hours	 	 	24.0	 	 	 	24.0	 	 	 	40.0	 	 	 	50.0	 	 	 	50.0	 	 	 	55.0	 	 	 	55.0	 	 	 	52.0	 	 	 	52.0	 	 	 	62.0	 	 	 	65.0	 	 	 	66.0	 	 	 	66.0	 	 	 	66.0	 	 	 	66.0	 	 	 	66.0	 	 	 	66.0	 






 


Additionally,
a 5% tolerance on the maximum contracted power is allowed.


 


Minimum
power (purchase obligation): Equivalent to 30% of maximum contracted power:



 





	 	 	MAXIMUM POWER (MW)
	 	 	 	 	 	2012	 	 	 	 	 	 	 	 	2015	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Jan. 1	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	Jan. 1	 	 	Jul. 1	 	 	 	 	 	 	 	 	to	 	 	15-31	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	To	 	 	to	 	 	 	 	 	 	 	 	Dec. 14	 	 	Dec.	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Delivery point	 	2011	 	 	Jun. 30	 	 	Dec. 31	 	 	2013	 	 	2014	 	 	(STAGE I)	 	 	(STAGE I)	 	 	2016	 	 	2017	 	 	2018	 	 	2019	 	 	2020	 	 	2021	 	 	2022	 	 	2023	 	 	2024	 	 	2025	 
	GUADALUPE SUBSTATION 60 KV	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	- Peak hours	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	- Off-peak hours	 	 	4.8	 	 	 	4.8	 	 	 	9.9	 	 	 	12.6	 	 	 	11.3	 	 	 	12.0	 	 	 	8.4	 	 	 	8.4	 	 	 	10.2	 	 	 	8.4	 	 	 	11.0	 	 	 	8.4	 	 	 	8.4	 	 	 	8.4	 	 	 	8.4	 	 	 	8.4	 	 	 	8.4	 
	PIURA OESTE SUBSTATION 220 KV	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	- Peak hours	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	- Off-peak hours	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	1.2	 	 	 	4.8	 	 	 	4.8	 	 	 	4.8	 	 	 	4.8	 	 	 	4.8	 	 	 	4.8	 	 	 	4.8	 	 	 	4.8	 	 	 	4.8	 	 	 	4.8	 	 	 	4.8	 
	TOTAL	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	- Peak hours	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	- Off-peak hours	 	 	4.8	 	 	 	4.8	 	 	 	9.9	 	 	 	12.6	 	 	 	11.3	 	 	 	13.2	 	 	 	13.2	 	 	 	13.2	 	 	 	15.0	 	 	 	13.2	 	 	 	15.8	 	 	 	13.2	 	 	 	13.2	 	 	 	13.2	 	 	 	13.2	 	 	 	13.2	 	 	 	13.2	 














 


Exclusivity:
Exclusive electricity supply (up to the maximum power supply contractually agreed).


 




     


     


    


 


Pricing:


 


From
February 1, 2016 to December 31, 2020:


 





	 	 	Active energy	 	 	 	 	 	Power	 
	 	 	US$/MWh	 	 	Off-peak	 	 	US$/kW-month	 
	Delivery point	 	Peak hours	 	 	hours	 	 	Peak hours	 
	Delivery point: 60 kV busbar in the Guadalupe Substation	 	 	 	 	 	 	 	 	 
	●
    Generation prices on the Reference Generation Busbar (RGB): 60 kV Busbar in the Guadalupe Substation	 	 	38,93	 	 	 	35,76	 	 	 	5,96	 
	● Generation prices on the delivery point	 	 	38,93	 	 	 	35,76	 	 	 	5,96	 
	Delivery point: 220 kV busbar in the Piura Oeste Substation	 	 	 	 	 	 	 	 	 	 	 	 
	● Generation prices on the RGB: 220 kV busbar in the Piura Oeste Substation	 	 	39,67	 	 	 	36,45	 	 	 	6,00	 
	● Generation prices on the delivery point	 	 	39,67	 	 	 	36,45	 	 	 	6,00	 







 


From January 2021 to May 31, 2026:              




 





	 	 	Active energy	 	 	 	 	 	Power	 
	 	 	US$/MWh	 	 	Off-peak	 	 	US$/kW-month	 
	Delivery point	 	Peak hours	 	 	hours	 	 	Peak hours	 
	Delivery point: 60 kV busbar in the Guadalupe Substation	 	 	 	 	 	 	 	 	 
	● Generation prices on the Reference Generation Busbar
    (RGB): 60 kV Busbar in the Guadalupe Substation	 	 	42,73	 	 	 	39,25	 	 	 	5,96	 
	● Generation prices on the delivery point	 	 	42,73	 	 	 	39,25	 	 	 	5,96	 
	Delivery point: 220 kV busbar in the Piura Oeste Substation	 	 	 	 	 	 	 	 	 	 	 	 
	●Generation prices on the RGB: 220 kV busbar in the Piura Oeste Substation	 	 	43,55	 	 	 	40,00	 	 	 	6,00	 
	● Generation prices on the delivery point	 	 	43,55	 	 	 	40,00	 	 	 	6,00	 





 


Transmission
prices will also be added (fee for connection toll to the Main Transmission System and the toll corresponding to the Secondary
Transmission Systems and Complementary Transmission Systems assigned to Demand Areas no. 3 and 15).


 


Generation
prices will be adjusted each month according to a formula (for power: Based on the US Producer Price Index; and for energy: Based
on the US Producer Price Index, Natural Gas Price, Reference Import Price for Bituminous Coal and Net Price on Residual Oil no.
6).


 




    2


     


    


 


Tariff
periods:


 


For
power:


 


		●	Peak
                                         hours: from 18:00 to 21:00 hours, Monday through Saturday, except for nonworking holidays
                                         nationwide.



 


		●	Off-peak
                                         hours: from 00:00 to 18:00 hours and from 21:00 to 24:00 hours, Monday through Saturday,
                                         except for nonworking holidays nationwide; and from 00:00 to 24:00 hours, Sundays and
                                         nonworking holidays nationwide.



 


For
energy:


 


		●	Peak
                                         hours: from 18:00 to 23:00 hours, Monday through Saturday, except for nonworking holidays
                                         nationwide.



 


		●	Off-peak
                                         hours: from 23:00 to 18:00 hours, Monday through Saturday, except for nonworking holidays
                                         nationwide; and from 00:00 to 24:00 hours, Sundays and nonworking holidays nationwide.



 


Penalty
on power excess: 25% of the price.


 


Delivery
point: 60 kV busbar in the Guadalupe Substation and 220 kV busbar in the Piura Oeste Substation.


 


Termination
without cause: Either party may terminate the contract without cause, with a prior notice of 90 calendar days and a payment
equivalent to 18 times the average monthly total billing of the last 12 months billed for the supply





 


 


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