# EDGAR Filing Document

**Accession Number:** 0001853011
**File Stem:** 0001853011-25-000023
**Filing Date:** 2025-9
**Character Count:** 23920
**Document Hash:** 9cc5ffe7a95c85feabdbc2384ee41bbc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001853011-25-000023.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0001853011-25-000023

**CONFORMED SUBMISSION TYPE**: 1-U

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250923

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20250924

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Energea Portfolio 4 USA LP
- **CENTRAL INDEX KEY:** 0001853011
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 862564823
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-U
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 24R-00517
- **FILM NUMBER:** 251335082

**BUSINESS ADDRESS:**
- **STREET 1:** 52 MAIN STREET
- **CITY:** CHESTER
- **STATE:** CT
- **ZIP:** 06412
- **BUSINESS PHONE:** 860-316-7466

**MAIL ADDRESS:**
- **STREET 1:** 52 MAIN STREET
- **CITY:** CHESTER
- **STATE:** CT
- **ZIP:** 06412

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Energea Portfolio 4 USA LLC
- **DATE OF NAME CHANGE:** 20210324

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 1-U**

**CURRENT REPORT PURSUANT TO REGULATION A**

**September 23, 2025**

(Date of Report (Date of earliest event reported))

**ENERGEA PORTFOLIO 4 USA LP**

(Exact name of registrant as specified in its charter)

**Delaware**

(State or other jurisdiction of incorporation or organization)

**86-2564823**

(I.R.S. Employer Identification No.)

**52 Main Street, Chester, CT 06412**

(Full mailing address of principal executive offices)

**860-316-7466**

(Issuer's telephone number, including area code)

**Class A Investor Shares**<br> (Title of each class of securities issued pursuant to Regulation A)

*This Investment Committee ("<u>IC</u>") Memo includes projections and forward-looking information that represent the Manager's assumptions and expectations in light of currently available information. Except for statements of historical fact, the information contained herein constitutes forward-looking statements and they are provided to allow potential investors the opportunity to understand the Manager's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These forward-looking statements are not guarantees of future performance and necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance. For a comprehensive discussion on forward-looking statements and the risks associated with this investment, please refer to the Offering Circular.*

*All capitalized terms used herein have a meaning set forth in the Offering Circular.*

**<u>ITEM 9. OTHER EVENTS</u>**

**EXECUTIVE SUMMARY**

The Sandlot ("<u>Project</u>") is an operational asset originally built and commissioned in 2020. It was previously owned by Solar Generation Projects LLC ("<u>SGP</u>"). Energea Portfolio 4 USA LP ("<u>Energea</u>") is acquiring the rights to the Project.

The Project is a 749 kW DC solar power plant located on the premises owned by the Trnka Trust ("<u>Landowner</u>") and connected to the Central Hudson Gas & Electric distribution grid ("<u>Utility</u>").

The Company has invested **$406,848.00 USD** at a projected IRR of **10.06%** in USD (see "*Financial Summary*").

 *Key Information*

<u>General Information</u>

---

| | |
|:---|:---|
| &nbsp;&nbsp; Project Owner | &nbsp;&nbsp; Energea Portfolio 4 USA LP |
| &nbsp;&nbsp; Project Location | &nbsp;&nbsp; 1751 Old Kings Highway, Saugerties, NY |
| &nbsp;&nbsp; Technology | &nbsp;&nbsp; Ground-mounted solar on fixed tilt racking |
| &nbsp;&nbsp; System Size (AC/DC) | &nbsp;&nbsp; 600 kW AC / 749 MW DC |
| &nbsp;&nbsp; Estimated Year 1 Production | &nbsp;&nbsp; 915 MWhs |
| &nbsp;&nbsp; Coordinates | &nbsp;&nbsp; 42.119157° N -73.966911° W |
| &nbsp;&nbsp; Land Status | &nbsp;&nbsp; Land Lease  |
| &nbsp;&nbsp; Project Status | &nbsp;&nbsp; Operational |
| &nbsp;&nbsp; Useful Equipment Life (Years) | &nbsp;&nbsp; 25 years |

---

<u>Stakeholders</u>

---

| | |
|:---|:---|
| &nbsp;&nbsp; SPE Name  | &nbsp;&nbsp; Energea Sandlot LLC |
| &nbsp;&nbsp; SPE Address | &nbsp;&nbsp; 52 Main Street, Chester, CT, 06412 |
| &nbsp;&nbsp; Offtaker | &nbsp;&nbsp; Multiple clients under the VDER community solar program including the municipality of Catskill  |
| &nbsp;&nbsp; O&M Contractor  | &nbsp;&nbsp; Omnidian, Inc. |
| &nbsp;&nbsp; Land Owner | &nbsp;&nbsp; Trnka Trust |

---

<u>Uses of Capital</u>

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **USD** |
| &nbsp;&nbsp; Project Acquisition Cost | &nbsp;&nbsp; $396100.00 |
| &nbsp;&nbsp; Project Enhancement Costs | &nbsp;&nbsp; $9400.00 |
| &nbsp;&nbsp; Project Soft Costs | &nbsp;&nbsp; $1348.00 |
| &nbsp;&nbsp; Total Project Financing  | &nbsp;&nbsp; $406848.00 |
| &nbsp;&nbsp; Projected IRR | &nbsp;&nbsp; 10.06% |

---

 *Technical Summary*

<u>Site</u>

Saugerties, New York is a historic Hudson Valley town located in Ulster County, nestled between the Catskill Mountains and the Hudson River. Known for its scenic beauty and small-town charm, Saugerties features attractions like the 19th-century Saugerties Lighthouse, the artsy and monumental Opus 40 sculpture park, and a vibrant village center with local shops and eateries. The town is also a gateway to outdoor recreation, offering access to hiking, kayaking, and fishing along the Esopus Creek and surrounding parklands. Saugerties is celebrated for its rich cultural heritage, active arts scene, and as a peaceful yet dynamic destination for both residents and visitors.

The Trnka Trust ("<u>Landowner</u>") owns the site. The site was originally secured through the Land Lease Agreement signed between SG Sandplot PV LLC and the Landowner on July 23, 2019. The Land Lease Agreement was transferred from SG Sandplot PV LLC to Energea Sandlot LLC.

<u>Design</u>

*Major System Components*

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; **Component Name** | &nbsp;&nbsp; **Manufacturer and Model** | &nbsp;&nbsp; **Unit Quantity** | &nbsp;&nbsp; **Energea Notes** |
| &nbsp;&nbsp; Modules | &nbsp;&nbsp; Trina<br> TSM-370DE14A (II) (1500V) | &nbsp;&nbsp; 2026 | &nbsp;&nbsp; Tier 1 module manufacturer based in China |
| &nbsp;&nbsp; Inverters | &nbsp;&nbsp; CPS<br> SCH100KTL-DO/US-600 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; Tier 1 inverter manufacturer based in China |
| &nbsp;&nbsp; Racking | &nbsp;&nbsp; RBI Solar <br> GM-2 Ground Mount Solution (fixed tilt) | &nbsp;&nbsp; 1 | &nbsp;&nbsp; Tier 1 racking manufacturer based in Fort Meyers, Florida, USA |

---

<u>Energy Projection</u> 

Based on historic actual production figures for the Project, it's projected to produce 912MWhs during its 4<sup>th</sup> year of operation. The Trina modules exhibit minimal degradation over their lifespan, ensuring reliable long-term performance. They are warrantied to experience 1% power loss in the first year of operation and an annual degradation rate of <0.4% thereafter over a 30-year lifespan. Enhanced resistance to light-induced degradation and elevated temperature-induced degradation further ensures minimal power loss, making them a great choice for the Project.

<u>Interconnection</u>

The Central Hudson interconnection study for the Project confirmed that the proposed 600 kW AC photovoltaic system could be safely and feasibly interconnected to the utility's 13.2 kV feeder from the Saugerties Substation. The study found no violations in voltage, thermal, or protection criteria under the NY Standardized Interconnection Requirements (NYSSIR), and no substation upgrades were needed. However, the Project did trigger SCADA requirements due to its size and required the installation of an electronic recloser at the point of interconnection, along with new primary metering infrastructure. Overall, the Project met all technical standards for interconnection with only moderate utility-side modifications. The Interconnection for the Project is secured through a Distributed Generation Interconnection Agreement ("<u>Interconnection Agreement</u>") which was originally signed on July 1, 2019, between Central Hudson Gas & Electric and Solar Generation Projects, LLC and was subsequently transferred to Energea Sandlot LLC. The Project received Permission to Operate from the Utility on February 28, 2020.

<u>Offtaker</u>

The original Net Crediting Agreement ("<u>NCA</u>") between Solar Generation Projects, LLC and Central Hudson Gas & Electric was signed on August 18, 2021. This agreement enrolls the Sandlot Community Solar Project into New York State's utility-administered Net Crediting Program. Under this model, Central Hudson applies Value Stack credits directly to participating subscribers' utility bills and remits the subscription payments minus an administrative fee to the Owner. The Project currently has thirty-one (31) subscribers that range from individual residents, local businesses and local municipalities. See "*Community Distributed Generation Subscription Agreement*" below for more details.

<u>O&M</u>

Omnidian Inc has been selected as the O&M service provider for the Project. The service provider utilizes a large network of vetted and experienced solar professionals with years of combined solar O&M experience. They are equipped with the latest technology and tools to provide the highest level of service to the Project. This field team is supported by the office staff who will provide 24/7 monitoring, performance verification and general support for all asset management requirements. The O&M Contract includes monitoring, reporting, module cleaning, preventative maintenance, landscaping, emergency/corrective maintenance and technical calculations.

**Health, Safety, Environmental and Community "HSEC"**

<u>Service Providers</u>

The due diligence metrics outlined below are intended to ensure the selection of reliable and economically sound companies to provide regular services for the Project. These procedures aim to verify that potential contractors are financially healthy, committed to fulfilling their tax, labor and civil obligations, and help mitigate legal-related risks in accordance with applicable laws and regulations.

*Energea Service Providers - Due Diligence* 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Phase** | &nbsp;&nbsp; **Objective** | &nbsp;&nbsp; **Requirements / Actions/ Documents** |
| &nbsp;&nbsp; Pre-Contractual Due Diligence | &nbsp;&nbsp; Project experience, current financial standing, business registration, insurance, OSHA and labor compliance | &nbsp;&nbsp; Project Experience Report |
| &nbsp;&nbsp; Pre-Contractual Due Diligence | &nbsp;&nbsp; Project experience, current financial standing, business registration, insurance, OSHA and labor compliance | &nbsp;&nbsp; State Registration Certificate |
| &nbsp;&nbsp; Pre-Contractual Due Diligence | &nbsp;&nbsp; Project experience, current financial standing, business registration, insurance, OSHA and labor compliance | &nbsp;&nbsp; Financial Statements |
| &nbsp;&nbsp; Pre-Contractual Due Diligence | &nbsp;&nbsp; Project experience, current financial standing, business registration, insurance, OSHA and labor compliance | &nbsp;&nbsp; Organizational Chart |
| &nbsp;&nbsp; Pre-Contractual Due Diligence | &nbsp;&nbsp; Project experience, current financial standing, business registration, insurance, OSHA and labor compliance | &nbsp;&nbsp; Insurance Certificates |
| &nbsp;&nbsp; Pre-Contractual Due Diligence | &nbsp;&nbsp; Project experience, current financial standing, business registration, insurance, OSHA and labor compliance | &nbsp;&nbsp; Worker's Compensation Insurance  |
| &nbsp;&nbsp; Pre-Contractual Due Diligence | &nbsp;&nbsp; Project experience, current financial standing, business registration, insurance, OSHA and labor compliance | &nbsp;&nbsp; OSHA safety training certifications and required PPE list for site workers |
| &nbsp;&nbsp; Pre-Contractual Due Diligence | &nbsp;&nbsp; Project experience, current financial standing, business registration, insurance, OSHA and labor compliance | &nbsp;&nbsp; Company Emergency Action Plan (EAP) |
| &nbsp;&nbsp; Contractual  | &nbsp;&nbsp; Health, safety, and labor law obligations  | &nbsp;&nbsp; Health/safety obligations |
| &nbsp;&nbsp; Contractual  | &nbsp;&nbsp; Health, safety, and labor law obligations  | &nbsp;&nbsp; Compliance with OSHA and local labor laws |

---

<u>Permitting</u>

Energea ensures the Project's compliance by confirming all required studies and permits were completed prior to construction and by securing any necessary permits required by local authorities and consultants for the operation of the Project. The Project received the installation permit from the Town of Saugerties' Building Department on August 12, 2019. The Project was inspected by the Building Department on January 30, 2020, and received final approval with no additional comments.

*ESC Related Permits* 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Permit** | &nbsp;&nbsp; **Description** | &nbsp;&nbsp; **Status** |
| &nbsp;&nbsp; Building Permit | &nbsp;&nbsp; Planning Review | &nbsp;&nbsp; Approved |
| &nbsp;&nbsp; Building Permit | &nbsp;&nbsp; Building Review | &nbsp;&nbsp; Approved |
| &nbsp;&nbsp; Building Permit | &nbsp;&nbsp; Fire Review | &nbsp;&nbsp; Approved |
| &nbsp;&nbsp; Building Permit | &nbsp;&nbsp; Structural Review | &nbsp;&nbsp; Approved |
| &nbsp;&nbsp; Building Permit | &nbsp;&nbsp; Electrical Review | &nbsp;&nbsp; Approved |

---

<u>Stakeholder Engagement</u>

The Project is located on a private piece of property, surrounded by an environmental fence. There is private access to the project, which has a locked gate at the entrance.

The project is located in a rural area near Saugerties, where the crime rate is lower than the New York state average and significantly below the national average. Additionally, according to the project sellers, there is no record of any incidents at the site, further reinforcing the safety of the project's surroundings.

**Financial Summary**

The nominal after-tax IRR of Sandlots sponsor equity investors is projected to be 10.06%, with an estimated payback of 12 years, 10 months and 5 days. The income statement, cash flow statement and balance sheet up until 2030 (shown annually) are presented on Exhibit I. The Project's financials are modeled without a tax equity partnership flip structure.

<u>Capital Expenses ("CAPEX")</u>

CAPEX assumptions are set as seen on the table below. All items are assumed to be depreciable under State and Federal Level.

*Capital Expenditures Assumptions*

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **US Dollars (USD)** | &nbsp;&nbsp; **$/kW (USD)** |
| &nbsp;&nbsp; Acquisition Costs | &nbsp;&nbsp; $396100.00 | &nbsp;&nbsp; $0.5284 |
| &nbsp;&nbsp; Project Enhancement Costs | &nbsp;&nbsp; $9400.00 | &nbsp;&nbsp; $0.0125 |
| &nbsp;&nbsp; Project Soft Costs | &nbsp;&nbsp; $1348.00 | &nbsp;&nbsp; $0.0018 |
| &nbsp;&nbsp; **Total CapEx (All-In)** | &nbsp;&nbsp; **$406848.00** | &nbsp;&nbsp; **$0.5427** |

---

<u>Revenue</u>

The contracted Community Solar Subscription Agreements with the Offtakers enrolls them into the New York State's utility-administered Net Crediting Program. The revenue of the Project is generated through New York's Value of Distributed Energy Resources (VDER) program, also known as the Value Stack. Each Offtaker has a specific allocation amount, and they receive the credits in their utility bills at their location of registered service.

The Subscription Agreements have a 10-year initial term, with options to extend. An additional 20 years was assumed in the model, showing revenue through the year 2045.

*Revenue Assumptions*

---

| | |
|:---|:---|
| &nbsp;&nbsp; Contract Type | &nbsp;&nbsp; Community Solar Subscription Agreement |
| &nbsp;&nbsp; Revenue Contract Term | &nbsp;&nbsp; 10 years w option to extend |
| &nbsp;&nbsp; Contracted Rate | &nbsp;&nbsp; Variable based on month of generation |
| &nbsp;&nbsp; Starting Year kWh Assumption  | &nbsp;&nbsp; 915,000 kWh's |

---

<u>Operating Expenses ("OPEX")</u>

The model assumes the Operating Expenses described within the "Project Review" section, with its values priced as on the table below.

*Operating Expenses Assumptions*

---

| | |
|:---|:---|
| &nbsp;&nbsp; Operations & Maintenance | &nbsp;&nbsp; $5,599.94 / year |
| &nbsp;&nbsp; Land Rental | &nbsp;&nbsp; 10% of Revenue / month |
| &nbsp;&nbsp; Insurance | &nbsp;&nbsp; $560.33 / month |
| &nbsp;&nbsp; Management Software | &nbsp;&nbsp; $200.00 / year |
| &nbsp;&nbsp; Banking Fees | &nbsp;&nbsp; $40.00 / month |
| &nbsp;&nbsp; Technical Services Reserve | &nbsp;&nbsp; $150.00 / month |
| &nbsp;&nbsp; Landscaping | &nbsp;&nbsp; $270.83 / month |
| &nbsp;&nbsp; Utilities | &nbsp;&nbsp; $150.00 / month |
| &nbsp;&nbsp; Franchise Tax | &nbsp;&nbsp; $429.00 / year |

---

**Legal Summary**

Each of the contracts that comprise the Project have been drafted, negotiated and reviewed by the Manager. This section specifically comments on the review of the following contracts:

SPE Operating Agreement

Community Distributed Generation Subscription Agreement

Operations and Maintenance Service Agreement

<u>SPE Operating Agreement</u>

---

| | |
|:---|:---|
| &nbsp;&nbsp; Contract | &nbsp;&nbsp; Energea Sandlot, LLC |
| &nbsp;&nbsp; Incorporation Date | &nbsp;&nbsp; May 16, 2025 |
| &nbsp;&nbsp; State of Incorporation | &nbsp;&nbsp; Delaware |
| &nbsp;&nbsp; Address | &nbsp;&nbsp; 52 Main Street, Chester, CT 06412 |
| &nbsp;&nbsp; Structure | &nbsp;&nbsp; Limited Liability Company |
| &nbsp;&nbsp; Owner | &nbsp;&nbsp; Energea Portfolio 4 USA LP (100%) |
| &nbsp;&nbsp; Management | &nbsp;&nbsp; Mike Silvestrini |

---

<u>Community Distributed Generation Subscription Agreement</u>

---

| | |
|:---|:---|
| &nbsp;&nbsp; Contract | &nbsp;&nbsp; Community Distributed Generation Subscription Agreement |
| &nbsp;&nbsp; Date | &nbsp;&nbsp; Agreements will be assigned to Energea Sandlot LLC  |
| &nbsp;&nbsp; Parties | &nbsp;&nbsp; Energea Sandlot LLC - **System Owner**<br> Bearsville Center LLC, Cornelia Logan, Eiger 3970 Consultants, Jacqueline Kellachan, Pablo P Shine, Tim Rands, Chet 5 Inc WDST, Town of Catskill, Jefferson Heights Imp Association, O'Neill Group Dutton LLC - **Host Customer** |
| &nbsp;&nbsp; Term | &nbsp;&nbsp; 10 years w/ option to extend |
| &nbsp;&nbsp; Early Termination  | &nbsp;&nbsp; Subscriber may exit the program at any time by providing a replacement subscriber or by providing 90 days' notice of intent to exit the program. Early termination request must be submitted via email or in writing. |
| &nbsp;&nbsp; Price, Fees and Charges | &nbsp;&nbsp; The community solar subscription provides a 10% savings to the solar credits posted to the subscribers utility bill (except for Bearsville, which has 20%). Each month the utility will post solar credits to the electric bill and Solar Generation will invoice for 90% of the value of those credits. The value of these credits fluctuates each month based on the Value of Distributed Energy Resources (VDER) tariff. |

---

<u>Operations and Maintenance Service Agreement</u>

---

| | |
|:---|:---|
| &nbsp;&nbsp; Contract | &nbsp;&nbsp; Agreement for the Provision of Operation and Maintenance Services |
| &nbsp;&nbsp; Date | &nbsp;&nbsp; O&M Agreement will be signed upon completion of the PSA |
| &nbsp;&nbsp; Parties | &nbsp;&nbsp; Omnidian, INC - Contractor<br> Energea Sandlot LLC - Owner |
| &nbsp;&nbsp; Object | &nbsp;&nbsp; Contractor shall perform all Operations and Maintenance services including but not limited to monitoring, reporting, module cleaning, preventative maintenance, landscaping, emergency/corrective maintenance and technical calculations. |
| &nbsp;&nbsp; Contract Price | &nbsp;&nbsp; $5,599.94 - Annual Plan w/ 3% escalator per year of Employment Cost Index (ECI) |
| &nbsp;&nbsp; Warranty Duration | &nbsp;&nbsp; The contractor shall manage and supervise all repairs and replacements of all equipment covered by equipment warranties. Contractor shall pursue all warranty-eligible and guarantee-eligible claims with equipment suppliers and contractors.<br> Inverters - 10-year Extended Factory Warranty<br> Modules - 25-year Limited Power Output Warranty<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12-year Limited Product Warranty on Materials |
| &nbsp;&nbsp; Insurance | &nbsp;&nbsp; Commercial General Liability Insurance<br> $5,000,000.00 Umbrella policy<br> $2,000,000.00 Destruction of Property of Bodily Harm<br> $1,000,000.00 General Liability<br> Worker's Compensation<br> $1,000,000.00 minimum coverage<br> Automobile Liability Insurance<br> $1,000,000.00 minimum coverage |
| &nbsp;&nbsp; Governing Law | &nbsp;&nbsp; State of New York |

---

<u>Documentation Checklist</u>

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **<u>Document Name</u>** | &nbsp;&nbsp; **<u>Status</u>** |
| &nbsp;&nbsp; SPE | &nbsp;&nbsp; Operating Agreement | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; SPE | &nbsp;&nbsp; FEIN | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; SPE | &nbsp;&nbsp; Formation Documents | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Site | &nbsp;&nbsp; Site Photos | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Site | &nbsp;&nbsp; Land Owner Documents | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Site | &nbsp;&nbsp; Property Lease Agreement | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Design and Application | &nbsp;&nbsp; Energy Resource Study | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Design and Application | &nbsp;&nbsp; Project Summary | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Design and Application | &nbsp;&nbsp; Preliminary Engineering | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Interconnection | &nbsp;&nbsp; Interconnection Application | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Interconnection | &nbsp;&nbsp; Interconnection Agreement | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Interconnection | &nbsp;&nbsp; Permission to Operate | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Permit | &nbsp;&nbsp; Electrical Permit | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Offtaker | &nbsp;&nbsp; Monthly Allocation Reports | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; Offtaker | &nbsp;&nbsp; Subscription Agreements | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; EPC | &nbsp;&nbsp; Construction Set | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; EPC | &nbsp;&nbsp; Equipment Warranties | &nbsp;&nbsp; Confirmed |
|  | &nbsp;&nbsp; Electrical Inspection Certificate | &nbsp;&nbsp; Confirmed |
| &nbsp;&nbsp; O&M | &nbsp;&nbsp; O&M Agreement | &nbsp;&nbsp; In Process |
| &nbsp;&nbsp; Investment | &nbsp;&nbsp; Project Model | &nbsp;&nbsp; Confirmed |

---

The Investment Committee members have performed the necessary review of the Project and hereby approve the Project for investment by the Company.

**Signatures**

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

<u>Energea Portfolio 4 USA LP</u>

By: Energea Global LLC

By /s/ MICHAEL SILVESTRINI

Name: Michael Silvestrini

Title: Co-Founder and Managing Partner

This document has been signed by the following person in the capacities and on the date indicated.

By /s/ MICHAEL SILVESTRINI

Name: Mike Silvestrini

Title: Co-Founder and Managing Partner of Energea Global LLC (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

Date: September 23, 2025