# EDGAR Filing Document

**Accession Number:** 0001993443
**File Stem:** 0001993443-26-000007
**Filing Date:** 2026-6
**Character Count:** 460794
**Document Hash:** b7a13dc136f5de8eacf0a909c998cfcd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001993443-26-000007.hdr.sgml**: 20260604

**ACCESSION NUMBER**: 0001993443-26-000007

**CONFORMED SUBMISSION TYPE**: 1-A POS

**PUBLIC DOCUMENT COUNT**: 10

**FILED AS OF DATE**: 20260604

**DATE AS OF CHANGE**: 20260604

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Energea Portfolio 5 LATAM LP
- **CENTRAL INDEX KEY:** 0001993443
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC, GAS & SANITARY SERVICES [4900]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 932777221
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 1-A POS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 024-12630
- **FILM NUMBER:** 261065341

**BUSINESS ADDRESS:**
- **BUSINESS PHONE:** 18603167466

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Energea Portfolio 5 Colombia LLC
- **DATE OF NAME CHANGE:** 20230913

## Part

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **EXPLANATORY NOTE**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This Offering Circular of Energea Portfolio 5 LATAM LP is filed as a Post-Qualification Amendment No. 1 ("<u>PQA</u>") to the offering statement qualified by the U.S. Securities and Exchange Commission on February 5, 2026 pursuant to Rule 252(f) of Regulation A under the Securities Act of 1933.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This PQA includes the Company's audited financial statements for the fiscal year ended December 31, 2025, and updates certain disclosures in the previously qualified Offering Circulars. In particular, this PQA consolidates disclosures made in all Form 1-U, Form 1-SA, Form 253(g) and/or Form 1-K filings made on behalf of the Company since February 5, 2026. This amendment is filed to update the Offering Circular and maintain current disclosure in accordance with Regulation A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unless otherwise indicated or the context otherwise requires, all information in this Offering Circular reflects the terms and conditions as of the date of this amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Post-Qualification Offering Circular**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amendment No. 1**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **File No. 024-12630**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Part II - Information Required in Offering Circular**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **AN OFFERING STATEMENT PURSUANT TO REGULATION A RELATING TO THESE SECURITIES HAS BEEN FILED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE "<u>SEC</u>"). INFORMATION CONTAINED IN THIS OFFERING CIRCULAR MAY BE SUBJECT TO COMPLETION OR AMENDMENT. THESE SECURITIES MAY NOT BE SOLD AND OFFERS TO BUY MAY NOT BE ACCEPTED BEFORE THE OFFERING STATEMENT FILED WITH THE COMMISSION IS QUALIFIED, AND ANY SUCH OFFER OR SALE WILL BE MADE ONLY IN ACCORDANCE WITH APPLICABLE LAW. THIS OFFERING CIRCULAR SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR MAY THERE BE ANY SALES OF THESE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. WE MAY ELECT TO SATISFY OUR OBLIGATION TO DELIVER A FINAL OFFERING CIRCULAR BY SENDING YOU A NOTICE WITHIN TWO BUSINESS DAYS AFTER THE COMPLETION OF OUR SALE TO YOU THAT CONTAINS THE URL WHERE THE FINAL OFFERING CIRCULAR OR THE OFFERING STATEMENT IN WHICH SUCH FINAL OFFERING CIRCULAR WAS FILED MAY BE OBTAINED.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page i*

 

 

![](image001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energea Portfolio 5 LATAM LP**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Up to $50,000,000 in Class A Investor Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Offering Circular (Subject to Completion) Dated: [ ], 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *This Offering Circular Follows the Form 1-A Disclosure Format*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energea Portfolio 5 LATAM LP (the "<u>Company</u>", "us", "we", "our" and similar terms) is a limited partnership organized under the laws of Delaware to invest in the acquisition, development, and operation of solar energy projects in countries in the Central America, South America and/or the Caribbean located below the southern border of the United States (such countries are herein after referred to as "<u>Latin America</u>" or "<u>LATAM</u>" and each such solar energy project is hereinafter referred to as a "<u>Project</u>"). The Company may also lend money to Development Companies and use solar projects as collateral rather than acquiring Projects for direct ownership (each a "<u>Loan</u>"). The Company's day-to-day operations are managed by Energea Global LLC (the "<u>General Partner</u>" and together with its affiliates "<u>Energea Global</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company is currently offering up to $50.0 million in limited partnership interests designated as "<u>Class A Investor Shares</u>" (the "<u>Offering</u>") pursuant to Regulation A ("<u>Regulation A</u>") of the Securities Act of 1933, as amended (the "<u>Securities Act</u>"). The Class A Investor Shares are offered at a fixed price established by the General Partner. The fixed price is based on the Company's most recently determined Investor NAV per Class A Investor Share, as described under *Price of Class A Investor Shares*. The current fixed price will be published on the Platform, and the minimum initial investment is $100.

 ***There is currently no established secondary market for the Class A Investor Shares, and Investors may not be able to sell their Class A Investor Shares. While Investors should view an investment in the Company as long-term, the Company offers a Redemption Plan in order to provide Investors with an opportunity to obtain liquidity. See Securities Being Offered: The Class A Investor Shares-Summary of LP Agreement and Authorizing Resolution-Redemption Plan and Risk Factors-No Market for the Class A Investor Shares; Limits on Transferability.***

  ****

 ***Investors may not be able to sell their Class A Investor Shares except by submitting a Redemption Request to the Company through our General Partner's website, www.energea.com (the "<u>Platform</u>"). Pursuant to the Redemption Plan, Investors must hold their Class A Investor Shares for at least 60 days before they can request redemption of their Class A Investor Shares via the Platform; if the General Partner agrees to honor a Redemption Request, the Company has 90 days to make payment on such redemption; and the General Partner may, in its sole discretion, amend, suspend, or terminate the Redemption Plan at any time without prior notice. Additionally, Class A Investor Shares may not be transferred without the Company's consent, which can be withheld in its sole discretion, and the General Partner has a right of first refusal to purchase any Class A Investor Shares proposed to be transferred. See Redemption Plan and Risk Factors-No Market for the Class A Investor Shares.***

 ***Investors should note that the General Partner may decide to sell the Projects or the Company at any time. Should the General Partner decide to sell the Company, Investors could be forced to sell their Class A Investor Shares at the direction of the General Partner. See Drag-Along Right.***

  ****

 ***The purchase of these securities involves a high degree of risk. Before investing, you should read this entire Offering Circular and exhibits hereto, including Risk Factors.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page ii*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company is selling Class A Investor Shares directly to the public through the Platform. Those interested in investing will find this Offering Circular, along with all SEC filings for the Company, on the Platform. Prior to making an investment, potential Investors will be required to create a password-protected account and provide certain personal information as required by law. The Platform also provides potential Investors the ability to contact an Energea representative for assistance. For more information, please see *How To Invest*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Partner is not engaged in the business of underwriting securities. The General Partner is an associated person of the Company (relying on the Safe Harbor provided in Rule 3a4-1 of the Securities Exchange Act of 1934, as amended), and is acting as a fiduciary that is substantially focused on managing the Company. The General Partner's activities consist of administrative and informational activities including hosting and maintaining the Platform. The General Partner acts solely on behalf of the Company and in compliance with a Tier 2 Regulation A offering upon qualification of the Company's Form 1-A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neither the Company nor any affiliated entity involved in this Offering is a member firm of the Financial Industry Regulatory Authority, Inc. ("<u>FINRA</u>"), and no person associated with this Offering will be deemed to be a broker solely by reason of his or her participation in the sale of our Class A Investor Shares. Investors will not pay upfront selling commissions or broker fees in connection with the purchase of Class A Investor Shares. We will reimburse our General Partner for certain expenses incurred on our behalf, and pay our General Partner certain fees, as described further under *Compensation of General Partner*.

This is a "best efforts - no minimum" offering. The Offering commenced upon qualification of our offering statement by the SEC and will continue until the date we raise the maximum amount being offered, unless earlier terminated by the Company. We will reimburse the General Partner for marketing expenses in an amount up to 5% of the total Offering amount raised. See *Use of Proceeds.*

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; ***Per Share***  | &nbsp;&nbsp; ***Total Maximum***  |
| &nbsp;&nbsp; Public Offering Price  | &nbsp;&nbsp; $1.15  | &nbsp;&nbsp; $50000000  |
| &nbsp;&nbsp; Marketing Expenses | &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; $0.06  | &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; $2500000  |
| &nbsp;&nbsp; Proceeds to the Company from this Offering to the Public  | &nbsp;&nbsp; $1.09  | &nbsp;&nbsp; $47500000  |

---

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **THE SEC DOES NOT PASS UPON THE MERITS OF OR GIVE ITS APPROVAL TO ANY SECURITIES OFFERED OR THE TERMS OF THE OFFERING, NOR DOES IT PASS JUDGEMENT UPON THE ACCURACY OR COMPLETENESS OF ANY OFFERING CIRCULAR OR OTHER SOLICITING MATERIALS. THESE SECURITIES ARE OFFERED PURSUANT TO AN EXEMPTION FROM REGISTRATION WITH THE COMMISSION; HOWEVER, THE COMMISSION HAS NOT MADE AN INDEPENDENT DETERMINATION THAT THE SECURITIES OFFERED ARE EXEMPT FROM REGISTRATION.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **GENERALLY, NO SALE MAY BE MADE TO A NON-ACCREDITED INVESTOR FROM THIS OFFERING IF THE AGGREGATE PURCHASE PRICE THE NON-ACCREDITED INVESTOR PAYS IS MORE THAN 10% OF THE GREATER OF THEIR ANNUAL INCOME OR NET WORTH. DIFFERENT RULES APPLY TO ACCREDITED INVESTORS AND NON-NATURAL PERSONS. BEFORE MAKING ANY REPRESENTATION THAT YOUR INVESTMENT DOES NOT EXCEED APPLICABLE THRESHOLDS, WE ENCOURAGE YOU TO REVIEW RULE 251(D)(2)(I)(C) OF REGULATION A. FOR GENERAL INFORMATION ON INVESTING, WE ENCOURAGE YOU TO REFER TO WWW.INVESTOR.GOV FOR MORE INFORMATION, SEE *LIMIT ON AMOUNT A NON-ACCREDITED INVESTOR CAN INVEST*.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS OFFERING CIRCULAR. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page iii*

 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TABLE OF CONTENTS**

---

| | |
|:---|:---|
| &nbsp;&nbsp; ***Section***  | &nbsp;&nbsp; ***Page***  |
| &nbsp;&nbsp; [**Caution Regarding Forward-Looking Statements**](#_Caution_Regarding_Forward-Looking)  | &nbsp;&nbsp; **1**  |
| &nbsp;&nbsp; [**SUMMARY AND RISK FACTORS**](#a_004)  | &nbsp;&nbsp; **3**  |
| &nbsp;&nbsp; [Executive Summary](#_Executive_Summary_1)  | &nbsp;&nbsp; 3  |
| &nbsp;&nbsp; [*Our Business*](#a_002)  | &nbsp;&nbsp; *3*  |
| &nbsp;&nbsp; [*The Offering*](#_The_Offering)  | &nbsp;&nbsp; *3*  |
| &nbsp;&nbsp; [*Company Operations and Other Matters*](#_Company_Operations_and)  | &nbsp;&nbsp; *3*  |
| &nbsp;&nbsp; [Risk Factors](#_Risk_Factors)  | &nbsp;&nbsp; 4  |
| &nbsp;&nbsp; [**DILUTION**](#a_041)  | &nbsp;&nbsp; **11**  |
| &nbsp;&nbsp; [**PLAN OF DISTRIBUTION AND SELLING SECURITYHOLDERS**](#_Plan_of_Distribution_1)  | &nbsp;&nbsp; **11**  |
| &nbsp;&nbsp; [**OTHER CONCURRENT OFFERINGS**](#_Other_Concurrent_Offerings)  | &nbsp;&nbsp; **12**  |
| &nbsp;&nbsp; [**USE OF PROCEEDS**](#_Use_of_Proceeds)  | &nbsp;&nbsp; **12**  |
| &nbsp;&nbsp; [**Description of Business**](#_description_of_business)  | &nbsp;&nbsp; **13**  |
| &nbsp;&nbsp; [Offices and Employees](#_Offices_and_Employees)  | &nbsp;&nbsp; 13  |
| &nbsp;&nbsp; [Company Overview](#_Company_Overview)  | &nbsp;&nbsp; 13  |
| &nbsp;&nbsp; [Investment Strategy](#_Investment_Strategy)  | &nbsp;&nbsp; 14  |
| &nbsp;&nbsp; [*Development Companies*](#_Development_Companies)  | &nbsp;&nbsp; *14*  |
| &nbsp;&nbsp; [*Projects*](#_Projects)  | &nbsp;&nbsp; *14*  |
| &nbsp;&nbsp; [*Loans*](#_Loans)  | &nbsp;&nbsp; *15*  |
| &nbsp;&nbsp; [Investment Committee](#_Investment_Committee)  | &nbsp;&nbsp; 16  |
| &nbsp;&nbsp; [Specific Market Analysis](#_Specific_Market_Analysis)  | &nbsp;&nbsp; 17  |
| &nbsp;&nbsp; [Competition](#_Competition)  | &nbsp;&nbsp; 17  |
| &nbsp;&nbsp; [Our Revenue and Income](#_Our_Revenue_and)  | &nbsp;&nbsp; 18  |
| &nbsp;&nbsp; [Our Operating Expenses](#_Our_Operating_Expenses)  | &nbsp;&nbsp; 18  |
| &nbsp;&nbsp; [U.S. and Colombian Taxes](#_U.S._and_Colombia)  | &nbsp;&nbsp; 19  |
| &nbsp;&nbsp; [Colombia Taxes](#_Colombia_Taxes)  | &nbsp;&nbsp; 19  |
| &nbsp;&nbsp; [U.S. Federal Income Taxes](#_U.S._Federal_Income)  | &nbsp;&nbsp; 20  |
| &nbsp;&nbsp; [*Classification as a Corporation*](#_Classification_as_a)  | &nbsp;&nbsp; *20*  |
| &nbsp;&nbsp; [*Taxation of Dividends*](#_Taxation_of_Dividends)  | &nbsp;&nbsp; *20*  |
| &nbsp;&nbsp; [*Foreign Tax Credit*](#_Foreign_Tax_Credit)  | &nbsp;&nbsp; *21*  |
| &nbsp;&nbsp; [*Taxation of Distributions to Investors*](#_Taxation_of_Distributions)  | &nbsp;&nbsp; *21*  |
| &nbsp;&nbsp; [*Taxation Upon the Sale of Exchange of Class A Investor Shares*](#_Taxation_Upon_the)  | &nbsp;&nbsp; *21*  |
| &nbsp;&nbsp; [*Alternative Minimum Tax*](#_Alternative_Minimum_Tax)  | &nbsp;&nbsp; *21*  |
| &nbsp;&nbsp; [*Taxable Year*](#_Taxable_Year)  | &nbsp;&nbsp; *21*  |
| &nbsp;&nbsp; [*Tax Returns and Information; Audits; Penalties; Interest*](#_Tax_Returns_and)  | &nbsp;&nbsp; *21*  |
| &nbsp;&nbsp; [*Other U.S. Tax Consequences*](#_Other_U.S._Tax)  | &nbsp;&nbsp; *22*  |
| &nbsp;&nbsp; [Summary of Supporting Contracts](#_Summary_of_Supporting)  | &nbsp;&nbsp; 22  |
| &nbsp;&nbsp; [*Project Contracts*](#_Project_Contracts)  | &nbsp;&nbsp; *22*  |
| &nbsp;&nbsp; [*Loan Contracts*](#_Purchase_and_Sale)  | &nbsp;&nbsp; *22*  |
| &nbsp;&nbsp; [Material Legal Proceedings](#_Material_Legal_Proceedings)  | &nbsp;&nbsp; 23  |
| &nbsp;&nbsp; [Factors Likely to Impact the Performance of the Company](#_Factors_Likely_to)  | &nbsp;&nbsp; 23  |
| &nbsp;&nbsp; [Description of Property](#_Description_of_Property)  | &nbsp;&nbsp; 24  |
| &nbsp;&nbsp; [*Loans Issued*](#_Loans_Issued)  | &nbsp;&nbsp; *24*  |
| &nbsp;&nbsp; [**Management Discussion and Analysis of Financial Condition and Result of Operation**](#_management_discussion_and)  | &nbsp;&nbsp; **24**  |
| &nbsp;&nbsp; [Summary of Key Accounting Policies](#_Market_Outlook_and)  | &nbsp;&nbsp; 25  |
| &nbsp;&nbsp; [*Investments*](#_Investments)  | &nbsp;&nbsp; *25*  |
| &nbsp;&nbsp; [*Impairment*](#_Impairment)  | &nbsp;&nbsp; *25*  |
| &nbsp;&nbsp; [*Revenue Recognition*](#_Revenue_Recognition)  | &nbsp;&nbsp; *25*  |
| &nbsp;&nbsp; [Market Outlook and Recent Trends](#_Market_Outlook_and_1)  | &nbsp;&nbsp; 25  |
| &nbsp;&nbsp; [Distributions](#_Distributions)  | &nbsp;&nbsp; 26  |
| &nbsp;&nbsp; [Past Operating Results](#_Past_Operating_Results_1)  | &nbsp;&nbsp; 26  |
| &nbsp;&nbsp; [Leverage](#_Leverage)  | &nbsp;&nbsp; 27  |
| &nbsp;&nbsp; [Liquidity and Capital Resources](#_Liquidity_and_Capital)  | &nbsp;&nbsp; 27  |
| &nbsp;&nbsp; [Method of Accounting](#_Method_of_Accounting)  | &nbsp;&nbsp; 27  |
| &nbsp;&nbsp; [**Directors, Executive Officers & Significant Employees**](#a_103)  | &nbsp;&nbsp; **28**  |
| &nbsp;&nbsp; [Names, Positions, Etc.](#_Names,_Positions,_Etc._1)  | &nbsp;&nbsp; 28  |
| &nbsp;&nbsp; [Family Relationships](#_Family_Relationships)  | &nbsp;&nbsp; 28  |
| &nbsp;&nbsp; [Ownership of Related Entities](#_Ownership_of_Related)  | &nbsp;&nbsp; 28  |
| &nbsp;&nbsp; [Business Experience](#_Business_Experience)  | &nbsp;&nbsp; 28  |
| &nbsp;&nbsp; [Legal Proceedings Involving Executives and Directors](#_Legal_Proceedings_Involving)  | &nbsp;&nbsp; 31  |
| &nbsp;&nbsp; [Other Solar Energy Funds](#_Other_Solar_Energy)  | &nbsp;&nbsp; 31  |
| &nbsp;&nbsp; [Compensation of General Partner](#_Compensation_of_Directors)  | &nbsp;&nbsp; 32  |
| &nbsp;&nbsp; [*Calculating Carried Interest*](#_Calculating_Carried_Interest)  | &nbsp;&nbsp; *33*  |
| &nbsp;&nbsp; [*Deferment of Fees*](#_Deferment_of_Fees_1)  | &nbsp;&nbsp; *33*  |
| &nbsp;&nbsp; [*Fees Paid to General Partner*](#a_114)  | &nbsp;&nbsp; *33*  |
| &nbsp;&nbsp; [*Co-Investment*](#_Co-Investment)  | &nbsp;&nbsp; *34*  |
| &nbsp;&nbsp; [**Security Ownership of General Partner and Certain Securityholders**](#_Security_Ownership_of)  | &nbsp;&nbsp; **34**  |
| &nbsp;&nbsp; [**Interest of Management and Others in Certain Transactions**](#_Interest_of_Management)  | &nbsp;&nbsp; **35**  |
| &nbsp;&nbsp; [**Securities being Offered: The Class A Investor Shares**](#_Securities_Being_Offered:)  | &nbsp;&nbsp; **35**  |
| &nbsp;&nbsp; [Description of Securities](#_Description_of_Securities)  | &nbsp;&nbsp; 35  |
| &nbsp;&nbsp; [Price of Class A Investor Shares](#_Price_of_Class)  | &nbsp;&nbsp; 35  |
| &nbsp;&nbsp; [Voting Rights](#_Voting_Rights)  | &nbsp;&nbsp; 36  |
| &nbsp;&nbsp; [Limited Partnership Agreement](#_Limited_Liability_Company)  | &nbsp;&nbsp; 36  |
| &nbsp;&nbsp; [Summary of LP Agreement and Authorizing Resolution](#_Summary_of_LP)  | &nbsp;&nbsp; 36  |
| &nbsp;&nbsp; [*Formation and Ownership*](#_Formation_and_Ownership)  | &nbsp;&nbsp; *36*  |
| &nbsp;&nbsp; [*Shares and Ownership*](#_Shares_and_Ownership_1)  | &nbsp;&nbsp; *36*  |
| &nbsp;&nbsp; [*Management*](#_Management)  | &nbsp;&nbsp; *37*  |
| &nbsp;&nbsp; [*Exculpation and Indemnification of General Partner*](#_Exculpation_and_Indemnification)  | &nbsp;&nbsp; *37*  |
| &nbsp;&nbsp; [*Obligation to Contribute Capital*](#_Obligation_to_Contribute_1)  | &nbsp;&nbsp; *38*  |
| &nbsp;&nbsp; [*Personal Liability*](#_Personal_Liability)  | &nbsp;&nbsp; *38*  |
| &nbsp;&nbsp; [*Distributable Cash Flow*](#_Distributable_Cash_Flow)  | &nbsp;&nbsp; *38*  |
| &nbsp;&nbsp; [*Transfers and First Right of Refusal*](#_Transfers_and_First)  | &nbsp;&nbsp; *38*  |
| &nbsp;&nbsp; [*Death, Disability, Etc.*](#a_089)  | &nbsp;&nbsp; *38*  |
| &nbsp;&nbsp; [*Fees to General Partner and Affiliates*](#a_090)  | &nbsp;&nbsp; *38*  |
| &nbsp;&nbsp; [*Mandatory Redemptions*](#_Mandatory_Redemptions)  | &nbsp;&nbsp; *38*  |
| &nbsp;&nbsp; [*"Drag-Along" Right*](#a_092)  | &nbsp;&nbsp; *39*  |
| &nbsp;&nbsp; [*Electronic Delivery*](#_Electronic_Delivery_1)  | &nbsp;&nbsp; *39*  |
| &nbsp;&nbsp; [*Amendment*](#_Amendment)  | &nbsp;&nbsp; *39*  |
| &nbsp;&nbsp; [*Information Rights*](#_Information_Rights)  | &nbsp;&nbsp; *39*  |
| &nbsp;&nbsp; [*Distributions in Liquidation*](#_Distributions_in_Liquidation)  | &nbsp;&nbsp; *40*  |
| &nbsp;&nbsp; [*Preemptive Rights*](#_Preemptive_Rights)  | &nbsp;&nbsp; *40*  |
| &nbsp;&nbsp; [*Liability to Make Additional Contributions*](#_Liability_to_Make)  | &nbsp;&nbsp; *40*  |
| &nbsp;&nbsp; [*Withholding*](#_Withholding)  | &nbsp;&nbsp; *40*  |
| &nbsp;&nbsp; [*No Guarantee*](#_No_Guarantee)  | &nbsp;&nbsp; *41*  |
| &nbsp;&nbsp; [*Redemption Plan*](#_Limited_Right_of)  | &nbsp;&nbsp; *41*  |
| &nbsp;&nbsp; [*Rights of Common Shares*](#_Rights_of_Common_1)  | &nbsp;&nbsp; *42*  |
| &nbsp;&nbsp; [Investment Agreements](#_How_To_Invest_1)  | &nbsp;&nbsp; 42  |
| &nbsp;&nbsp; [*Terms of Auto-Invest Agreement*](#_Terms_of_Auto-Invest)  | &nbsp;&nbsp; *43*  |
| &nbsp;&nbsp; [*Terms of Auto-Reinvestment Agreement*](#_Terms_of_Auto-Reinvestment)  | &nbsp;&nbsp; *44*  |
| &nbsp;&nbsp; [*Investment Limitations for Non-Accredited Investors*](#_Investment_Limitations_for)  | &nbsp;&nbsp; *44*  |
| &nbsp;&nbsp; [How To Invest](#_How_To_Invest_2)  | &nbsp;&nbsp; 45  |
| &nbsp;&nbsp; [Limit on Amount a non-Accredited Investor Can Invest](#_Limit_On_The)  | &nbsp;&nbsp; 46  |
| &nbsp;&nbsp; [**Additional Information**](#_Factors_Likely_to_1)  | &nbsp;&nbsp; **46**  |
| &nbsp;&nbsp; [**LEGAL MATTERS**](#_Index_to_Financial)  | &nbsp;&nbsp; **47**  |
| &nbsp;&nbsp; [**EXPERTS**](#_EXPERTS)  | &nbsp;&nbsp; **47**  |
| &nbsp;&nbsp; [**Index to Audited Financial Statements**](#_Index_to_Financial_1)  | &nbsp;&nbsp; **47**  |
| &nbsp;&nbsp; [**GLOSSARY OF CERTAIN DEFINED TERMS**](#_Glossary_of_Certain)  | &nbsp;&nbsp; **48**  |
| &nbsp;&nbsp; [**Part III - Exhibits**](#_PART_III_-_1)  | &nbsp;&nbsp; **51**  |
| &nbsp;&nbsp; [Index to Exhibits and Description of Exhibits](#_Index_to_Exhibits)  | &nbsp;&nbsp; 51  |
| &nbsp;&nbsp; [**Signatures**](#_Signatures_1)  | &nbsp;&nbsp; **52**  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page iv*

*Caution Regarding Forward-Looking Statements*

 *We make statements in this Offering Circular that are forward-looking statements. The words "outlook," "believe," "estimate," "potential," "projected," "expect," "anticipate," "intend," "plan," "seek," "may," "could" and similar expressions or statements regarding future periods are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any predictions of future results, performance or achievements that we express or imply in this Offering Circular or in the information incorporated by reference into this Offering Circular.*

 *The forward-looking statements included in this Offering Circular are based upon our current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, our actual results and performance could differ materially from those set forth in the forward-looking statements. Factors which could have a material adverse effect on our operations and future prospects include, but are not limited to:*

 *· our ability to effectively deploy the proceeds raised from this Offering;*

 *· ability to attract and retain Investors on the Platform;*

 *· risks associated with breaches of our data security;*

 *· public health crises, pandemics and epidemics, such as those caused by new strains of viruses such as H5N1 (avian flu), severe acute respiratory syndrome (SARS) and, most recently, the novel coronavirus (COVID-19);*

 

 *· climate change and natural disasters that could adversely affect our Projects and our business;*

 

 *· changes in economic conditions generally and the renewable energy and securities markets specifically;*

 

 *· limited ability to dispose of assets because of the relative illiquidity of renewable energy Projects and Loans;*

 

 *· our failure to obtain necessary outside financing;*

 

 *· risks associated with derivatives or hedging activity;*

 

 *· intense competition in LATAM renewable energy markets that may limit our ability to attract or retain Customers (as defined below);*

 

 *· defaults under Supporting Contracts (see Summary of Supporting Contracts);*

 

 *· increased interest rates and/or operating costs;*

 

 *· the risk associated with potential breach or expiration of a ground lease, if any;*

 

 *· our failure to successfully construct, interconnect, operate or maintain the Projects;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 1*

 *· inability of a Borrower to make payments on a Loan;*

 *· the failure of Projects and Loans to yield anticipated results;*

 

 *· exposure to liability relating to environmental and health and safety matters;*

 

 *· our level of debt and the terms and limitations imposed on us by our debt agreements;*

 

 *· our General Partner's ability to retain executive officers and other key personnel;*

 

 *· the ability of our General Partner to source, originate and service our Projects and Loans;*

 

 *· the ability for our engineering, procurement and construction contractors and equipment manufacturers to honor their contracts including warranties and guarantees;*

 

 *· regulatory changes impacting our business or our assets (including changes to the laws governing the taxation of corporations and SEC guidance related to Regulation A, or the Jumpstart Our Business Startups Act of 2012 (the "<u>JOBS Act</u>");*

 

 *· changes in business conditions and the market value of our Projects, including changes in renewable energy policy, interest rates, prepayment risk, operator or Borrower defaults or bankruptcy, and generally the increased risk of loss if our investments fail to perform as expected;*

 

 *· our ability to implement effective conflicts of interest policies and procedures among the various renewable energy investment opportunities sponsored by our General Partner; and*

 

· *changes to U.S. generally accepted accounting principles ("<u>U.S. GAAP</u>").*

*Any of the assumptions underlying forward-looking statements could be inaccurate. You are cautioned not to place undue reliance on any forward-looking statements included in this Offering Circular. All forward-looking statements are made as of the date of this Offering Circular and the risk that actual results will differ materially from the expectations expressed in this Offering Circular will increase with the passage of time. We undertake no obligation to publicly update or revise any forward-looking statements after the date of this Offering Circular, whether because of new information, future events, changed circumstances or any other reason. Considering the significant uncertainties inherent in the forward-looking statements included in this Offering Circular, including, without limitation, those named above and those named under Risk Factors, the inclusion of such forward-looking statements should not be regarded as a representation by us or any other person that the objectives and plans set forth in this Offering Circular will be achieved.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 2*

 

  *Summary and Risk Factors*

 *Executive Summary*

 *Our Business*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energea Portfolio 5 LATAM LP (the "<u>Company</u>") is a limited partnership organized under the laws of Delaware. The Company has elected to be taxed as a "C" corporation for United States federal and state income tax purposes. The Company's day-to-day operations are managed by Energea Global LLC (the "<u>General Partner</u>"). As of the date of this Offering Circular, we do not have any Projects and we have made one (1) Loan (which is further described below) and we have not generated any revenue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company was created to invest in the acquisition, development, and operations of solar energy projects in LATAM countries (each a "<u>Project</u>"). The Projects will sell power and, in some cases, environmental commodities, to offtakers (who we collectively refer to as "<u>Customers</u>") who purchase the power or the environmental commodities under long term contracts. The Company may also lend money to Development Companies (which we collectively refer to as "<u>Borrowers</u>") and use solar projects as collateral rather than acquiring Projects for direct ownership (each a "<u>Loan</u>").

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As the Company earns revenue, it will use the revenue to pay for operating expenses (see *Our Operating Expenses*) and distribute the remaining cash to the holders of our Class A Investor Shares (our "<u>Investors</u>"), our Reg D Investors (as such term is defined herein and together with the Investors, the "<u>Limited Partners</u>") and the holders of our Common Shares (which is currently the General Partner). See *Company Operations and Other Matters*.

 *The Offering*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company is offering up to $50.0 million of Class A Investor Shares pursuant to Regulation A. The proceeds of our Offering will be used to construct and/or acquire Projects and to issue Loans.

 *We are offering to sell, and seeking offers to buy, the shares only in jurisdictions where such offers and sales are permitted. You should rely only on the information contained in this Offering Circular. We have not authorized anyone to provide you with any information other than the information contained in this Offering Circular. The information contained in this Offering Circular is accurate only as of its date, regardless of the time of its delivery or of any sale or delivery of our securities. Neither the delivery of this Offering Circular nor any sale or delivery of our securities shall, under any circumstances, imply that there has been no change in our affairs since the date of this offering circular. This offering circular will be updated and made available for delivery to the extent required by the federal securities laws.*

 *Company Operations and Other Matters*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company generates cash flow in five ways: (i) payments from Projects, (ii) payments from Loans (iii) Liquidated Damages from Construction Agreements, (iv) Net Proceeds from Capital Transactions, and (v) returns from investments (for example, interest gained from a money market savings account from cash-on-hand) ("<u>Company Investments</u>"). Cash flow will first be used to pay operating costs and expenses, including Fees and reimbursements payable to our General Partner (see *Our Operating Expenses*). The remaining cash flow, if any, is distributed to the Limited Partners at the discretion of the General Partner (see *Distributions*)<u>.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Be advised that only proceeds on the interest, and not on the repayment of the principal, which the Company receives from Loans and returns from Company Investments will be eligible for distribution. Repayment of principal of either Loans or Company Investments will not be eligible to be distributed to the Limited Partners and will be available for investment by the Company, in the General Partner's sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; See *Compensation of General Partner* and *Distributions* for more detailed information regarding Fees and distributions payable to the General Partner.

Investors have no voting rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 3*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAUTION: ALTHOUGH THE CASH FLOW FROM OUR PROJECTS AND LOANS WILL LARGELY BE ESTABLISHED BY CONTRACT IN ADVANCE, THERE IS NO GUARANTEE THAT OUR PROJECTS OR LOANS WILL GENERATE ANY POSITIVE CASH FLOW.

 *Risk Factors* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BUYING CLASS A INVESTOR SHARES IS SPECULATIVE AND INVOLVES SIGNIFICANT RISK, INCLUDING THE RISK THAT INVESTORS COULD LOSE SOME OR ALL OF THEIR MONEY. THIS SECTION DESCRIBES SOME OF THE MOST SIGNIFICANT FACTORS THAT THE COMPANY BELIEVES MAKE AN INVESTMENT IN THE CLASS A INVESTOR SHARES RISKY. THE ORDER IN WHICH THESE FACTORS ARE DISCUSSED IS NOT INTENDED TO SUGGEST THAT SOME FACTORS ARE MORE IMPORTANT THAN OTHERS. You should carefully consider the following risk factors in conjunction with the other information contained in this offering circular before purchasing the CLASS A INVESTOR SHARES.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **The Track Record of Our Principals Does Not Guarantee Success:** The principals of the Company and the General Partner have been involved in the solar industry for approximately 18 years, developing more than 500 solar projects. However, past performance is never a guaranty of future results, and the success of our principals in other solar projects does not guaranty that the Company will be successful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **We Have Not Yet Acquired Any Projects:** As of the date of this Offering Circular, the Company has not acquired any Projects and has made one Loan. Therefore the Company has generated no revenue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Risks Associated with Renewable Energy Projects:** The market for renewable energy is changing rapidly. If renewable technology proves unsuitable for widespread commercial deployment or if demand for renewable energy products, especially solar energy products, fails to develop sufficiently, our Projects and Loans might not be able to generate enough revenues to achieve and sustain profitability. The factors influencing the widespread adoption of renewable energy technology include, but are not limited to: cost-effectiveness of renewable energy technologies as compared with conventional technologies; performance and reliability of renewable energy products as compared with conventional energy products; and the success of other enabling technologies such as battery storage and Distributed Energy Resource Management Systems ("<u>DERMS</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **The Investment Environment May Change Over Time:**The Company's investment in the Projects and Loans is intended to extend over a period of years, during which the business, economic, political, regulatory, and technology environment within which the Company operates may undergo substantial changes, some of which may be adverse to the Company. The General Partner will have the exclusive right and authority (within limitations set forth in the LP Agreement) to determine the manner in which the Company shall respond to such changes, and Limited Partners generally will have ****no right to withdraw from the Company or to demand specific modifications to the Company's operations in consequence thereof. A major recession or adverse developments in the securities or credit markets might have an impact on the Company's investments in the Projects and Loans. In addition, factors specific to the Projects and Loans may have an adverse effect on the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net Losses**: Since we have not acquired any Projects and have made one (1) Loan, we do not have any revenue and are currently incurring net losses may continue incurring net losses in the future. If our operating expenses exceed our expectations, our financial performance could be adversely affected. If we are able to generate revenue, and our revenue does not grow to offset these increased expenses, we may never become profitable. In future periods, we may not have any revenue growth, or our revenue (if any) could decline.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Distributions to Investors:** Whether to distribute operating cash flow or capital proceeds and how much to distribute, is at the sole discretion of the General Partner. No returns are guaranteed, and Investors will receive distributions only if the Company generates distributable cash flow from the Projects and Loans. Investors will not have any recourse in the event we are unable to pay distributions. Because we have not made any profit to date and have no current or accumulated earnings and profits, such cash distributions to Investors will be considered a return of capital for U.S. federal income tax purposes to the extent that the distributions do not exceed the adjusted tax basis of the U.S. Holder's Class A Investor Shares. See *Management Discussion and Analysis of Financial Condition and Result of Operation-Distributions*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 4*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Distributions Generally**: Our ability to achieve our investment objectives and to pay distributions depends upon the performance of our General Partner in the acquisition of our Projects and Loans and the ability of our General Partner to source investment opportunities for us. In the event we are unable to timely locate suitable investments, we may be unable or limited in our ability to pay distributions and we may not be able to meet our investment objectives. If we pay distributions from sources other than our cash flow from Projects and Loans, we will have less funds available for investments and your overall return will be reduced.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Competition:** The Company intends to compete in the utility-scale, commercial and industrial ("<u>C&I</u>") and rural electrification segments of the solar markets of LATAM countries. Several multinational independent power producers ("<u>IPPs"</u>) such as ENEL Green Power, AES, and Celsia currently service a large portion of the utility-scale segment and could even expand into smaller segments, including the C&I segment.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition to these multinational players, the Company faces competition from smaller, local developers that specialize in distributed generation and behind-the-meter solar solutions. Companies such as Erco Energía, Suncol, and Green Yellow are particularly active in the C&I segment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company also intends to compete for rural electrification projects. As international funding for rural electrification projects increases (which we believe may occur due to new government regulations designed to encourage private investment and government-backed programs), new entrants in this space are likely to emerge.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Our Customers and/or Borrowers Might Default:** The Company will have a variety of Customers and Borrowers, including businesses, retirement communities and schools. Some Customers could default. A default would hurt the Project in question financially, reducing the anticipated returns to Investors. Customers and Borrowers may face intense competition, changing business and economic conditions, risks of technological acceptance and obsolescence or other developments that may adversely affect their ability to pay. Within the limitations set forth in the LP Agreement, the General Partner will have the right and authority to cause the Company's investment management and liquidation strategies and procedures to deviate from those described in this Offering Circular.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **We Might Own Only a Small Number of Projects:** If the Company is successful in raising the current maximum offering amount of $50.0 million in this Offering, the Company would likely acquire or invest in between 50 and 100 Projects. If the Company raises significantly less than the maximum offering amount, it may not be able to invest in as many Projects. If the Company owns only a small number of Projects, Investors will be exposed to greater concentration risk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Possible Changes in Governmental Policies:** The Projects depend on the energy policies of the LATAM countries where we may invest. These policies could expire, phase-out over time, require renewal by the applicable authority, or become a victim of political pressure. Certain governments in LATAM countries have instituted changes to their policies over the past several years. Some of those changes have positively affected our business while others have had a negative impact. The new policies could disfavor solar projects in general and our Projects in particular.

**Delays in Connecting to Power Grid:** The Projects must be physically connected to the power grid, a process that involves sophisticated engineering and government regulation. Delays are not uncommon. For example, the utility involved might be required to perform physical upgrades to allow for the safe and consistent generation, distribution, and/or transmission of electricity from a Project to the grid. Delays in the performance of the interconnecting utility's obligations to make such grid upgrades can negatively impact the financial performance of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Operational Risks:** The Projects are subject to operating and technical risks, including risk of mechanical breakdown, failure to perform according to design specifications, labor and other work interruptions and other unanticipated events that adversely affect operations. The success of each Project, once built, depends in part upon efficient operations and maintenance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Construction and Development Risks:** In some cases, the Company will invest in Projects before construction is complete. Construction of any kind involves risk, including labor unrest, bad weather, design flaws, the unavailability of materials, fluctuations in the cost of materials, and labor shortages. Delays are common, which could adversely affect the economics of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 5*

 

**Equipment Supply Constraints:** The construction of renewable energy facilities relies on the availability of certain equipment that may be in limited supply, such as solar modules, trackers, inverters and monitoring systems. Much of this equipment comes from China. There is no guarantee that the production of this equipment will match demand, and this may adversely impact the ability to construct and the cost of the Projects.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Finding Credible Development Companies and Projects:** Attracting and retaining relationships with Development Companies who can originate Projects with quality Customers is critical to the success of the Company (see *Investment Strategy*). If we are unable to acquire a large enough volume of quality Projects, our revenues may be lower than projected.

**Risks Associated with Investments Outside the U.S.:** All of the Projects and Loans will be in LATAM countries. Projects and Loans outside the United States are subject to certain risks that generally do not apply to investments within the United States. Such risks include:

 

· Historically, the markets of developing countries have been more volatile than the markets of developed countries.

· Developing countries may have less developed legal and accounting systems. The legal systems of developing countries might be less reliable in terms of enforcing contracts.

· The governments of developing countries may be more unstable and more likely to impose capital controls, nationalize a company or industry, place restrictions on foreign ownership and on withdrawing money from the country, and/or impose punitive taxes that could adversely affect prices.

· The economies of developing countries may be dependent on relatively few industries that are more susceptible to local and global changes.

· LATAM countries generally face security challenges, and the Projects can be vulnerable to theft, vandalism, and damage. Ensuring robust security measures is essential to mitigate these risks and protect Project assets. If we are unable to properly secure the Projects, the Projects could be negatively affected by crime, which could reduce our net income.

· Development challenges, such as land acquisition, permitting delays, and poor infrastructure, can hinder progress and increase costs of the Projects. Navigating these obstacles is crucial to the successful development of our Projects. Ineffective land acquisition practices, slow reaction to permitting delays or selecting sites with poor infrastructure can negatively affect the financial performance of the Projects and the Company.

· Investments in controlled foreign corporations ("<u>CFCs</u>") by United States persons are subject to tax and information reporting in the United States, and certain local taxes paid may not be creditable under the foreign tax credit rules. The United States may not have a tax treaty with a LATAM nation in which a Project operates, which would give rise to the risk of double taxation in certain circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Foreign Currency Exposure:** The contracts entered into by the Projects will be denominated in the applicable local currency. Contracts denominated in local currencies will be subject to fluctuations in exchange rates between such currencies and the United States dollar ("<u>USD</u>"), which could impact the Company's returns. While the General Partner might be able to hedge the Company's foreign currency exposure to some degree, such hedging may be expensive and may not be entirely effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company's estimated future cash flow incorporates long-term foreign exchange assumptions by applying projected inflation rates for the applicable local market and the United States to their respective currencies over the expected life of the assets. To the extent projected local inflation exceeds projected U.S. inflation, the Company's models assume a corresponding long-term depreciation of the applicable local currency relative to the USD. These assumptions are used in calculating net asset values ("<u>NAV</u>") and targeted internal rates of return ("<u>IRR</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company's energy contracts contain inflation-linked price escalation mechanisms tied to local energy rates. As a result, periods of higher inflation or currency depreciation may also increase nominal local-currency project revenues. While such contractual adjustments may partially offset the effects of foreign currency depreciation on USD returns, there can be no assurance that they will fully offset foreign exchange losses or preserve targeted investor returns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Imprecise Language Translations:** All of the Company's legal contracts in LATAM will be written in English and either Portuguese or Spanish. Given that these languages have different historical and cultural roots, it is possible that some of the clauses and verbiage may not directly translate across languages and any deviation, especially with respect to some of the more technical terms, may cause misunderstandings that may negatively impact the business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 6*

 

**Risks Upon Disposition of Investments:** If the Company sells a Project, it might be required to make representations about the business and financial affairs of the Project, and to indemnify the purchaser if those representations prove to be inaccurate or misleading. These arrangements may result in contingent liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Regulatory Risks:** Regulatory risks pose significant challenges that can impact Project viability and returns. Governments in LATAM countries may alter renewable energy policies, tariffs, or incentive structures, affecting revenue and profitability. Delays or changes in permitting and licensing requirements are common and can disrupt construction and operational timelines. Additionally, grid interconnection rules may change, or access may be delayed, complicating energy distribution and contractual agreements. Shifts in political leadership can also lead to regulatory uncertainty, with inconsistent enforcement or sudden policy changes which could materially adversely affect our Projects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Environmental compliance is another critical factor, as varying laws and assessments across countries can become stricter over time, potentially delaying or increasing Project costs. Local content requirements in some countries may further complicate procurement and raise expenses. Currency devaluation and tax policy changes also pose risks, especially for cross-border investors.

 *Our compliance with applicable local, state and federal laws, and other laws including (to the extent applicable) the Investment Advisers Act of 1940, as amended (the "<u>Advisers Act</u>"), the Investment Company Act of 1940, as amended (together with the Advisers Act, the "<u>Acts</u>") remains a critical factor in our operations. Neither the Company nor the General Partner believe that it is subject to the Acts. However, future regulatory changes or interpretations could restrict the Company's operations or require the Company to register under the Acts, which would cause increased regulatory costs and scrutiny, or other penalties.* 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Unavailability of Insurance Against Certain Catastrophic Losses:** Certain losses of a catastrophic nature, such as earthquakes, wars, terrorist attacks or other similar events, may be either uninsurable or insurable at such high rates that to maintain such coverage would cause an adverse impact on the related Project. As a result, not all Projects may be insured against all possible risks. If a major uninsured loss occurs, the Company could lose both the amount it invested in and anticipated profits from the affected Project(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Potential Environmental Liability:** The Projects, like any large-scale physical plant, could cause environmental contamination under some circumstances. Further, the SPEs (as hereinafter defined) could be found liable for environmental contamination that occurred before the Project was built. The cost of remediation and penalties could be very large.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Liability for Personal Injury and Damage to Property:** The Company could be held liable for accidents and injuries at the Project site. The SPEs will carry insurance to protect against the potential losses, but the insurance might not be adequate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Global or National Economic Conditions:** An economic slowdown in a country where we invest could affect our Customers and/or Borrowers and therefore our Projects, Loans and Company Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No Participation in Management:** Investors will have no voting rights and no right to participate in the management of the Company or the Projects. Instead, the General Partner will make all decisions. You will have the ability to replace our management team only under very limited circumstances, as described in *Summary of LP Agreement and Authorizing Resolution*.

**Reliance on Management:** The success of the Company and its Projects will depend in part on the skills of our General Partner and its management team. If our General Partner fails to retain its key personnel, the Company and its Investors could suffer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 7*

 

**Sale of Other Securities:** The Company could, at any time, sell classes of Company shares other than those being offered by this Offering, for example, in a private placement (including, but not limited to, the sale of Reg D Shares). A different class of securities could have greater rights than those associated with the Class A Investor Shares, including but not limited to preferential rights to distributions.

**Limitations on Rights in Investment Agreements:** To purchase Class A Investor Shares, you are required to sign an investment agreement, in one of the forms attached hereto depending on your preferred method of investment, which shall either be the choice to (i) make a one time purchase of Class A Investor Shares, (ii) make an initial purchase of Class Investor Shares, followed by subsequent of purchases of Class A Investor Shares over a periodic basis or (iii) make an initial purchase of Class A Investor Shares, followed by subsequent purchases of Class A Investor Shares using the proceeds of distributions received from the Company (such investment agreements, the "<u>Investment Agreements</u>"). The Investment Agreements will limit your rights in several important ways if you believe you have claims against us arising from the purchase of your Class A Investor Shares:

· Any claims arising from your purchase of Class A Investor Shares must be brought in the state or federal courts located in Wilmington, Delaware, which might not be convenient to you.

· You would not be entitled to recover any lost profits or special, consequential, or punitive damages. However, that limitation does not apply to claims arising under Federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Following your initial purchase of Class A Investor Shares, you may to continue to participate in this Offering by electing to either (i) establish with the Company, a plan for you to automatically invest in the Offering on a periodic basis, subject to the terms of an Auto-Invest Agreement signed by you and the Company or (ii) to reinvest the distributions you receive from your Class A Investor Shares into the purchase of additional Class A Investor Shares, subject to the terms and conditions of the applicable Investment Agreement, signed by you and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **General Partner's Drag-Along Rights:** The General Partner may decide to sell the Projects or the Company at any time. Should the General Partner decide to sell the Company, Investors could be forced to sell their Class A Investor Shares at the direction of the General Partner according to the General Partner's drag-along rights granted to them in the LP Agreement (see *Summary of LP Agreement and Authorizing Resolution*.).

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Forum Selection Provision:** Our Investment Agreements and our LP Agreement both provide that disputes will be handled solely in the state or federal courts located in the state of Delaware. We included this provision primarily because (i) the Company is organized under Delaware law, (ii) Delaware courts have developed significant expertise and experience in corporate and commercial law matters and investment-related disputes (which typically involve very complex legal questions), particularly with respect to alternative entities (such as LPs), and have developed a reputation for resolving disputes in these areas in an efficient manner, and (iii) Delaware has a large and well-developed body of case law in the areas of corporate and alternative entities law and investment-related disputes, providing predictability and stability for the Company and its Investors. This provision could be unfavorable to an Investor to the extent a court in a different jurisdiction would be more likely to find in favor of an Investor or be more geographically convenient to an Investor. It is possible that a judge would find this provision unenforceable and allow an Investor to file a lawsuit in a different jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 27 of the Securities Exchange Act of 1934 (the "<u>Exchange Act</u>") provides that federal courts have exclusive jurisdiction over lawsuits brought under the Exchange Act, and that such lawsuits may be brought in any federal district where the defendant is found or is an inhabitant or transacts business. Section 22 of the Securities Act provides that federal courts have concurrent jurisdiction with State courts over lawsuits brought under the Securities Act, and that such lawsuits may be brought in any federal district where the defendant is found or is an inhabitant or transacts business. Investors cannot waive our (or their) compliance with federal securities laws. Hence, to the extent the forum selection provisions of the Investment Agreements or the LP Agreement conflict with these federal statutes, the federal statutes would prevail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Waiver of Right to Jury Trial:** The Investment Agreements and the LP Agreement both provide that legal claims will be decided only by a judge, not by a jury. The provision in the LP Agreement will apply not only to an Investor who purchases Class A Investor Shares in the Offering, but also to anyone who acquires Class A Investor Shares in secondary trading. Having legal claims decided by a judge rather than by a jury could be favorable or unfavorable to the interests of an owner of Class A Investor Shares, depending on the parties and the nature of the legal claims involved. It is possible that a judge would find the waiver of a jury trial unenforceable and allow an owner of Class A Investor Shares to have his, her, or its legal claim decided by a jury. In any case, the waiver of a jury trial in both the Investment Agreements and the LP Agreement do not apply to claims arising under the federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 8*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Conflicts of Interest:** The interests of the Company and the General Partner could conflict with the interests of Investors in a number of ways, including:

· Our General Partner and its officers perform similar roles for other entities that are affiliated with the General Partner and are not required to devote all of their time and effort to the Company and are only required to devote such time to our affairs as their duties require.

· Our General Partner will receive Fees based, in part, on the amount of cash flow the Company generates. The

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Partner might, therefore, have an incentive to raise more capital and invest in more Projects and Loans than

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; they would otherwise, leading them to invest in borderline Projects and Loans.

· The entire business of the General Partner consists of investing in solar projects, including solar projects in LATAM. There could be conflicts between Projects they decide to invest in through the Company and projects they invest in through other vehicles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Risk of Failure to Comply with Securities Laws:** The Offering relies on an exemption from registration with the SEC pursuant to Regulation A. If the Offering did not qualify for exemption from registration under the Securities Act, the Company could be subject to penalties imposed by the federal government and state regulators, as well as to lawsuits from Investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No Market for the Class A Investor Shares; Limits on Transferability:** There is currently no established market for the Class A Investor Shares. An Investor who wishes to sell or otherwise transfer their Class A Investor Shares may be limited because:

· There will be no established market for the Class A Investor Shares, meaning the Investor could have a hard time finding a buyer for its shares.

 

· Although the Company offers a Redemption Plan, there is no guarantee that an Investor who wants to sell his, her, or its Class A Investor will be able to do so.

· Class A Investor Shares may not be transferred without the Company's consent, which we can withhold in our sole discretion. The Company also has a right of first refusal to purchase any Class A Investor Shares proposed to be transferred.

Our General Partner reserves the right to reject any Redemption Request for any reason or no reason or to amend or terminate the Redemption Plan without prior notice. Therefore, you may not have the opportunity to make a Redemption Request prior to a potential termination of the Redemption Plan and you may not be able to sell any of your Class A Investor Shares back to the Company pursuant to the Redemption Plan. Moreover, if you do sell your Class A Investor Shares back to the Company pursuant to the Redemption Plan, you may not receive the same price you paid for the Class A Investor Shares being redeemed. In addition, pursuant to our Redemption Plan, an Investor may only (a) have one outstanding Redemption Request at any given time and (b) request that we redeem up to $50,000 worth of Class A Investor Shares per each Redemption Request. For more information regarding the Redemption Plan, see *Redemption Plan*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **"Best efforts-no minimum" offering.** The Offering is a "best efforts" basis and does not require a minimum amount to be raised. This means that any investment made could be the only investment in this Offering, leaving the Company without adequate capital to pursue its business plan. If we are not able to raise sufficient funds, we may not be able to fund our investment strategy as planned, and our growth opportunities may be materially adversely affected. This could increase the likelihood that an investor may lose their entire investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 9*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Corporate Governance Risk:** As a non-listed company conducting an exempt offering pursuant to Regulation A, the Company is not subject to a number of corporate governance requirements that an issuer conducting a registered offering or listed on a national stock exchange would be. For example, the Company does not have (i) a board of directors of which a majority consists of "independent" directors under the listing standards of a national stock exchange, (ii) an audit committee composed entirely of independent directors and a written audit committee charter meeting a national stock exchange's requirements, (iii) a nominating/corporate governance committee composed entirely of independent directors and a written nominating/corporate governance committee charter meeting a national stock exchange's requirements, (iv) a compensation committee composed entirely of independent directors and a written compensation committee charter meeting the requirements of a national stock exchange, and (v) independent audits of the Company's internal controls.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **The Company is an "Emerging Growth Company" Under the JOBS Act:** As of the date of this Offering Circular, the Company qualifies as an "emerging growth company" under the JOBS Act of 2012. If the Company were to become a public company (e.g., following a registered offering of its securities) and continued to qualify as an emerging growth company, it would be able to take advantage of certain exemptions from the reporting requirements under the Exchange Act and exemptions from certain investor protection measures under the Sarbanes Oxley Act of 2002. Using these exemptions could benefit the Company by reducing compliance costs but could also mean that Investors receive less information and fewer protections than they would otherwise. However, these exemptions - and the status of the Company as an "emerging growth company" in the first place - will not be relevant unless and until the Company becomes a public reporting company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company has elected to delay complying with any new or revised financial accounting standard until the date that a company that is not an "issuer" (as defined under Section 2(a) of the Sarbanes-Oxley Act of 2002) is required to comply with such new or revised accounting standard, if such standard also applies to companies that are not issuers. As a result, owners of Class A Investor Shares might not receive the same disclosures as if the Company had not made this election.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For example, because we are an emerging growth company, you will not be able to depend on any attestation from our independent registered public accounting firm as to our internal control over financial reporting for the foreseeable future. Our independent registered public accounting firm will not be required to attest to the effectiveness of our internal control over financial reporting pursuant to Section 404 of the Sarbanes-Oxley Act until the later of the year following our first annual report required to be filed with the Commission or the date we are no longer an "emerging growth company" as defined in the JOBS Act. Accordingly, you will not be able to depend on any attestation concerning our internal control over financial reporting from our independent registered public accounting firm for the foreseeable future.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Breaches of Security:** It is possible that our Platform, systems or the systems of third-party service providers could be "hacked," leading to the theft or disclosure of confidential information Investors provide to us. Because techniques used to obtain unauthorized access or to sabotage systems change frequently and generally are not recognized until they are launched, the Company, General Partner and our service providers may be unable to anticipate these techniques or to implement adequate defensive measures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Unanticipated changes in our tax laws that may impact us, the enactment of new tax legislation, or exposure to additional income tax liabilities could affect our profitability:** We are obligated to comply with income tax laws in the regions where we operate, including recent changes like the Inflation Reduction Act. These evolving tax regulations could impact our financial health. We also face potential tax audits that may result in additional tax assessments, with uncertain outcomes. Changes to our effective tax rate, driven by shifts in our operational structure, could have significant effects on our financial well-being.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **The General Partner relies on an exemption from registration as a broker-dealer:** The General Partner relies on an exemption from the Securities Exchange Act of 1934 in order to conduct certain administrative activities on behalf of the Company in connection with the Offering and as such, has not registered as a broker-dealer either with the SEC or with the Financial Industry Regulatory Authority ("<u>FINRA</u>"). If the SEC or FINRA were interpret such exemption differently or to otherwise determine that the General Partner has engaged in brokerage activities that require registration, which may include the sale of the Class A Investor Shares on the Platform, the General Partner may need to discontinue or suspend certain operations, which would likely be harmful to its and the Company's business and reputation. In addition, if the General Partner is found to have operated as a 'broker-dealer' without being properly registered, there is a risk that the Class A Investor Shares offered and sold while the General Partner was not registered may be subject to a right of rescission, which may result in the early termination of the Offering. If a number of Investors were to obtain rescission, the Company would face significant financial demands which could adversely affect the Company as a whole, as well as any non-rescinding Investors. An unregistered broker-dealer may also face sanctions, penalties and enforcement actions by regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 10*

 

  *Dilution* 

The price of Class A Investor Shares was determined by our General Partner (see *Price of Class A Investor Shares*). The Company sells shares to raise capital for the purchase and construction of Projects and to issue Loans. As new Investors purchase Class A Investor Shares (or other classes of stock, see *Other Concurrent Offerings*), existing Investors may be temporarily diluted until new Projects are acquired and/or constructed and new Loans are originated and contribute to monthly cash flow. Cash in treasury may be invested into Company Investments to optimize yield and minimize the dilution impact. Such Company Investments will not earn as high of a return as we expect to earn on our investments in Projects and Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Additionally, we may in the future offer additional classes and/or series of Investor Shares (such as in the Reg D Offering) or other securities convertible into or exchangeable for such class or series of Investor Shares. Although no assurances can be given that we will consummate a financing, in the event we do, or in the event we sell additional classes and/or series of Investor Shares (such as in the Reg D Offering) or other securities convertible into shares of our Class A Investor Shares in the future, additional and substantial dilution will occur. In addition, investors purchasing Class A Investor Shares or other securities in the future could have rights superior to Class A Investor Shares Investors in this Offering. Subsequent offerings at a lower price (a "down round") could result in additional dilution.

 *Plan of Distribution and Selling Securityholders*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company is offering to sell up to $50,000,000 of Class A Investor Shares to the public. As of April 30, 2026, 497,946,005 Class A Investor Shares remain authorized but unissued. This Offering is being conducted as a continuous offering pursuant to Rule 251(d)(3) of Regulation A, meaning that while the offering of securities is continuous, active sales of securities may happen sporadically over the term of the Offering. Further, the acceptance of subscriptions, whether via the Platform or otherwise, may be briefly paused at times to allow us to effectively and accurately process and settle subscriptions that have been received.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Offering commenced on February 5, 2026 and will end on the sooner of (i) a date determined by the Company, or (ii) the date the Offering is required to terminate by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Only the Company is offering securities in this Offering. None of our existing officers, directors, or stockholders (including the General Partner) are offering or selling any of their securities of the Company in this Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company is not using an underwriter or broker to sell the Class A Investor Shares and is not paying commissions. Class A Investor Shares will be offered and sold only through the Platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This is a "best efforts - no minimum" offering. This means that the Offering does not have a minimum threshold amount that we must raise before we can have a closing. Even if a very small number of Class A Investor Shares are sold, the Company does not plan to return funds to Investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company reserves the right to reject any subscription to purchase Class A Investor Shares in this Offering in whole or in part and for any reason (or no reason). If the Company rejects an investment, it will promptly return all the Investor's money without interest or deduction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anyone can buy Class A Investor Shares. The General Partner does not intend to limit investment to people with a certain income level or net worth, although there are limits on how much non-accredited investors may invest in this Offering (see *Limit on the Amount a Non-Accredited Investor Can Invest*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 11*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Partner intends to advertise the Offering using the Platform and through other means, including public advertisements, social media and audio-visual materials, in each case, only as we authorize and in compliance with the rules and regulations of Regulation A. Although these materials will not contain information that conflicts with the information in this Offering Circular and will be prepared with a view to presenting a balanced discussion of risk and reward with respect to the Class A Investor Shares, the advertising materials will not give a complete understanding of this Offering, the Company, or the Class A Investor Shares and are not to be considered part of this Offering Circular.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Offering is made only by means of this Offering Circular and prospective Investors must read and rely on the information provided in this Offering Circular in connection with their decision to invest in Class A Investor Shares.

 

  *Other Concurrent Offerings*

In addition to this Regulation A offering, the Company may conduct concurrent private offerings of securities under Rule 506(c) of Regulation D of the Securities Act of 1933. These private offerings (the "<u>Reg D Offerings</u>") will be open exclusively to verified accredited investors and may be offered through general solicitation and advertising, in compliance with applicable securities laws. Each of these classes of Company shares ("<u>Reg D Shares")</u> offered to investors participating in these private offerings (the "<u>Reg D Investors</u>") shall participate in distributions with the Investors on a *pari passu* basis.

Securities sold pursuant to Regulation D will not be registered with the SEC and will be subject to transfer restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from the Regulation D offering will be combined with proceeds from this Offering and used by the Company for the same common purpose (see *Use of Proceeds*). While proceeds from each offering may be used to acquire overlapping or similar energy infrastructure assets, the Company will maintain separate accounting of capital raised under each offering and allocate capital in a manner consistent with the rights and expectations of each investor class.

 *Use of Proceeds*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We expect to use all of the net proceeds of this Offering to acquire, develop and construct Projects and to issue Loans. Proceeds waiting to be invested into Projects and Loans may be temporarily invested into Company Investments like government bonds or money market accounts. For more information regarding our investment strategy, see *Investment Strategy*. For more information regarding current Projects and Loans, see *Description of Property*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We expect to pay for operating expenses at the Company with cash flow from the Projects and Loans, but if the Projects and Loans have not earned enough revenue to pay for any given operating expense, the General Partner may use the proceeds from this Offering to pay such operating expense. The types of operating expenses that the Company expects to pay are described in *Our Operating Expenses*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The capital raised in this Offering will not be used to compensate officers or directors because the Company has no employees. However, Offering proceeds may be used to pay Fees owed to the General Partner and its affiliates (see *Compensation of General Partner*). The Company expects to pay operating expenses, including Fees, from available Company cash, including cash flow from Projects, Loans and Company Investments and, if necessary, Offering proceeds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Partner may make short term advances to the Company to make payments on an as-needed basis. The General Partner has also secured a loan on behalf of the Company. We do not anticipate any additional sources of capital apart from funds from operations, the advances, funds generated through this Offering (and other offerings) and the loan to fund the Projects and Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; It is important to note that no capital will be allocated to any Project or Loan until it has received formal approval from the Investment Committee and has been reported in accordance with the appropriate procedures (see *Investment Committee*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We might invest in Projects or Loans using the General Partner's capital before we have raised enough capital from Investors. In that case, we will replace the General Partner's capital with capital from Investors as soon as we raise it. To the extent the General Partner or its affiliates invest capital, they will do so on the same price and terms as the Investors (see *Compensation of General Partner*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The table below sets forth our estimated use of proceeds from this Offering assuming we sell $50.0 million in Class A Investor Shares. This is a "best effort" offering. This Offering does not have a minimum to close. The Company is not paying commissions to underwriters, brokers, or anyone else in connection with the sale or distribution of the Class A Investor Shares. In some cases, retirement custodians, investment advisers, and other intermediaries will offer to invest on behalf of their clients. In such cases, the custodian, adviser, or intermediary will be paid a fee from their client's invested funds. In such cases, the client (rather than the Company) is paying those fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 12*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; ***Maximum Offering***  | &nbsp;&nbsp;  ****  | &nbsp;&nbsp; ***10% of Maximum***  | &nbsp;&nbsp; ***25% of Maximum***  | &nbsp;&nbsp; ***50% of Maximum***  |
|  | &nbsp;&nbsp; ***Amount (1)***  | &nbsp;&nbsp;  ****  | &nbsp;&nbsp; ***Amount***  | &nbsp;&nbsp; ***Amount***  | &nbsp;&nbsp; ***Amount***  |
| &nbsp;&nbsp; <br> Gross Offering Proceeds  | $&nbsp;&nbsp; 50000000  |  | &nbsp;&nbsp; 5000000  | &nbsp;&nbsp; 12500000  | &nbsp;&nbsp; 25000000  |
| &nbsp;&nbsp; <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; Less Marketing Expenses (1)  | $&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; 2500000  |  | &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; 250000  | &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; 625000  | &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; 1250000  |
| &nbsp;&nbsp; Net Proceeds from this Offering  | $&nbsp;&nbsp; 47500000  |  | &nbsp;&nbsp; 4750000  | &nbsp;&nbsp; 11875000  | &nbsp;&nbsp; 23750000  |
| &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; Estimated Amount Available for Projects and Loans  | $&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; 47500000  |  | &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; 4750000  | &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; 11875000  | &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; 23750000  |
| &nbsp;&nbsp; <br> **TOTALS**  | $&nbsp;&nbsp; **50000000**  |  | &nbsp;&nbsp; **5000000**  | &nbsp;&nbsp; **12500000**  | &nbsp;&nbsp; **25000000**  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *(1) The Company will reimburse the General Partner in an amount up to 5% of proceeds from this Offering to pay for organization and offering expenses, including marketing expenses. Any such amounts in excess of such 5% will be paid, without reimbursement, by the General Partner.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company reserves the right to change the above use of proceeds without notice if the General Partner believes it is in the best interests of the Company.

 *description of business*

 *Offices and Employees*

The Company's offices are located at 52 Main Street, Chester, CT 06412. The Company itself has no employees. Rather, the Company has engaged the General Partner to manage the Company and utilizes employees and services provided by the General Partner as described more fully in the section *Directors, Executive Officers & Significant Employees*.

 *Company Overview*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energea Portfolio 5 LATAM LP is a limited partnership, treated as a "C" corporation for United States federal and state income tax purposes, and organized under the laws of Delaware as of August 7, 2023. The Company and its day-to-day operations are managed by Energea Global LLC (the "<u>General Partner</u>" or "<u>Energea Global</u>"). The Company was created to invest in the acquisition, development, and operations of solar energy projects in LATAM (each a "<u>Project</u>"). The Company may also lend money to Development Companies and use solar projects as collateral rather than acquiring Projects for direct ownership (each a "<u>Loan</u>"). As of the date of this Offering Circular, we have not yet begun operations other than those associated with general start-up and organizational matters. We currently do not have any Projects and we have not received payments on the one (1) Loan we have made and therefore we have not generated any revenue (see *Description of Property*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The primary sources of revenue for the Company will come from payments made by customers who buy energy from the Projects ("<u>Customers</u>") and borrowers who make principal and interest payments on Loans ("<u>Borrowers</u>"). The Company's profitability depends on generating revenues from Projects and Loans that exceed the operating costs (see *Our Operating Expenses*).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We expect that Projects will be owned by special-purpose entity (each a "<u>SPE</u>"). We anticipate that each SPE will be organized in the country where the Project is located.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company generally plans to hold the Projects indefinitely, creating a reliable stream of cash flow for Investors. Should the Company decide to sell Projects in the future, however, the General Partner would consider the following factors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 13*

 

· *Yield and Cashflow*: Many investment funds look for reliable cashflows generating a targeted yield. With both revenue and most expenses locked in by contract, the cash flow from any Project should be predictable and consistent for as long as 25 years.

· *Project Consolidation*: Some of the Projects will be too small or unusual for institutional buyers to consider purchasing on their own. The Company could package these Projects into a larger, more standardized portfolio that will be attractive to these larger, more efficiency-focused players. In the aggregate, a portfolio of Projects might be expected to generate 50+ megawatts of power with relatively uniform power contracts, engineering standards, and underwriting criteria. A portfolio of that size can bear the fees and diligence associated with an institutional-grade transaction or securitization.

· *Cash Flow Stabilization*: When the Company buys a Project, it will typically share the construction or repowering risk with the Development Company that originated the Project. Larger investors are generally unwilling to take on construction risk and will invest only in Projects that are already generating positive cash flow, referred to as "stabilization". Thus, the Company may acquire Projects before stabilization and sell them after stabilization. Institutional investor interest in the Portfolio should increase as the portfolio stabilizes.

· *Increase in Residual Value*: When the Company acquires a Project, the appraisal will be based solely on the cash flows projected from executed Power Purchase Agreement (see *Summary of Supporting Contracts*), with no residual value assumed for the Project. We believe that there is a high probability that a Project will continue to create revenue after its initial contract period in the form of a contract extension, repositioning, or sale of energy into the merchant energy markets. This creates a sort of built-in "found value" for our Projects, which may be realized upon sale.

  *Investment Strategy* 

 *Development Companies* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company will source most of its Projects from other companies who specialize in developing solar projects in LATAM ("<u>Development Companies</u>"). The Company's relationship with Development Companies may take several different forms. A Development Company might: (i) identify a potential project and permit, engineer and construct it, (ii) provide operations and maintenance support for a Project after it is built or (iii) sell a Project to us and exit entirely.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Development Companies are compensated for their work and their risk. As of the date of this Offering Circular, the General Partner does not own a Development Company in LATAM and as of the date hereof, and in the future, the Company expects to acquire all Projects from unrelated Development Companies. The General Partner may create or acquire a Development Company if Projects from third parties become overpriced, if an exceptional market opportunity presents itself or if deal flow is slow and we require additional development capacity. If the Company were to acquire a Project from a Development Company that is related to the General Partner or an affiliate of the General Partner, we will cap the related-party origination fee at 5.0% of the overall Project's cost, which we believe is below the standard market rate for developing a Project (see *Compensation of General Partner*).

 *Projects*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Partner reviews Projects submitted by the Development Companies and seeks to identify Projects that we believe represent the greatest opportunity for potential risk-adjusted returns. We are specifically searching for Projects in countries with what we believe to be favorable economic conditions, large addressable markets and well-defined renewable energy policies, like Colombia, Panama, Chile, Uruguay and Costa Rica. Our preference would be to invest in Projects with credible Customers, albeit adjusted for the context of LATAM economies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We expect to invest primarily in Projects with the following characteristics:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 14*

 

· *Locations*: We select locations based primarily on:

o Demand for alternative energy;

o Efficient access for maintenance;

o Interconnection points with the electricity grid;

o Acceptable security risks. The Company tries to avoid selecting Projects in locations with high crime areas which could expose the Project to an increased risk of theft and vandalism;

o Solar irradiance; and

o Country and local-level policies that enable the development of renewable energy projects.

· *Right to Site*: We expect that some Projects to be owned by the Company will be installed on Customer's rooftops, while others will be located on remote parcels of real estate. In either scenario, the Company, and more specifically, the SPE, will obtain rights to access the Project to construct and maintain the Project ("<u>Site Access</u>"). For rooftop Projects, Site Access is most-commonly granted through the Power Purchase Agreement with the Customer. For Projects on remote real estate, the SPE will either purchase or lease the property to ensure adequate Site Access is obtained.

· *Operation and Maintenance*: The SPEs will hire a company to perform some or all of the services necessary to maintain each Project in good working order. This includes preventative maintenance (such as inverter diagnostics, cleaning inverter fans and string testing), emergency maintenance (which is when a technical crew is dispatched to a Project to address an unexpected issue that occurred in the field), modules cleaning, site security and landscaping.

· *Connecting Projects to the Electric Grid*: Most Projects acquired or constructed by the Company will require permission to interconnect to the local electric grid ("<u>Interconnection</u>"). This permission is granted by the local interconnecting utility company through an interconnection agreement and an associated permission to operate. In the case of certain smaller projects, interconnection rights may be granted through national and utility policy and not require an individual interconnection agreement.

 

· *Minimum Technical Requirements ("<u>MTR</u>")*: All technical aspects of each Project we invest in must meet the Company's MTR. The MTR is a comprehensive list of all venders and equipment makes/models which have gotten through the General Partner's due diligence process and are acceptable for use in the Projects. We analyze venders and the equipment they make to predict the field performance of the equipment and the financial strength behind warranties and guarantees. In addition to tracking venders and materials used in the construction, we also track best installation practices through the MTR. Each Project leaves lessons learned, and those lessons are incorporated into the collective memory of the General Partner by being added to the best practices component of the MTR.

 

· *Country-Level Policies and Environmental Commodities*: Some countries in LATAM have certain policies to promote the development of renewable energy projects. There are a wide range of policy types that include carbon credits, property and sales tax exemptions, net metering and community solar (referred to as "<u>DG</u>" in the Colombian context). The Company will seek to optimize those country-level policies with the belief that it will increase the expected return on investment for Investors which may include transactions with third parties to monetize carbon and renewable energy credits.

 

· *When the Company Invests in Projects*: Normally, the Company will not invest in a Project until the applicable contracts named above in *Rights to Site* and *Connecting Projects to the Electric Grid* have been negotiated and executed.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thus, in most cases, Investors are not exposed to significant Project-level risks until all these agreements are executed. However, the General Partner might make exceptions for Projects which we believe to be exceptionally promising. The General Partner will have sole discretion over whether to acquire or invest in a Project. See *Risk Factors* for more information.

 *Loans*

The Company intends to provide Loans to Borrowers in LATAM or with U.S. companies that do business in LATAM. Borrowers will usually be Development Companies or single-purpose entities which own solar projects. These Loans will be designed to finance the development of new solar energy projects while relying on the credit of existing projects or other collateral that rests on the balance sheet of the Borrower as collateral. Each time a new project reaches commercial operation; it contributes to the Borrower's overall collateral which allows the Company to extend additional credit to the Borrower.

 *Page 15*

· *Loan Issuance*: As the Company raises capital through this Offering, the General Partner may lend some or all of it to Borrowers each month. Each disbursement will be amortized on a separate amortization schedule which adheres to the terms and conditions of the Loan Agreement (see *Summary of Supporting Contracts*).

· *Collateral*: The Loans will be senior debt and collateralized by a pledge of the shares in the Borrower's enterprise which includes solar projects held on the corporate balance sheet. Thus, by serving as the sole lender to a Borrower, the solar projects act as the primary form of collateral. As Loans are issued, the Borrower will use the loan proceeds to develop and construct more projects which are added to the overall collateral calculations.

As the Projects achieve commercial operation, the Borrower's customer will begin to make payments to our Borrower for energy produced by the Projects. In some cases, payments from the customers to our Borrower will be made directly to a segregated account controlled by the Company. As a condition to close a Loan, the Borrower will grant the Company controlling rights to the trust account and/or collateralized assets, in the event of a default, the General Partner can easily step into the Borrower's cash flow to prevent revenue leakage during a default event. We believe the Company will be particularly well-suited to issue Loans when solar projects act as collateral due to our General Partner's extensive experience owning and operating solar projects.

· *Loan Management*: The General Partner will oversee the performance and compliance of Borrowers and the associated collateral. Their responsibilities include continuous monitoring of construction progress, energy production and cash flows to help ensure that loan terms are met. By working closely with the Borrowers and their projects, we expect to mitigate risks associated with project delays and underperformance which could impair the Borrower. Close scrutiny of underlying projects during due diligence and loan servicing will also ensure an efficient step-in during a default scenario.

 *Investment Committee*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; When we find a Project or Loan that meets the fundamental criteria described above, we consider the opportunity at a multi-disciplinary committee of experienced renewable energy executives of the General Partner ("<u>Investment Committee</u>"). To approve a Project or Loan for funding, a unanimous approval of the investment by the Investment Committee is required to move forward. A copy of the memorandum prepared by the General Partner for each Project or Loan will be provided to Investors on the Platform and in our filings with the SEC through "<u>Form 1-U</u>" and 253(g)(2) filings. As of the date of this Offering Circular, the Investment Committee consists of the members outlined in the table below:

 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; ***Name***  | &nbsp;&nbsp; ***Title***  | &nbsp;&nbsp; ***Due Diligence Responsibility***  |
| &nbsp;&nbsp; Arthur Issa <br>| &nbsp;&nbsp; Financial Analyst  | &nbsp;&nbsp; Review historical financials and prepare projections for each Project and Loan incorporating cash flow, tax, technical and energy market variables.  |
| &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; Dave Rutty  | &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; Project Analyst  | &nbsp;&nbsp; Compiles the IC Memos for Projects.<br>|
| &nbsp;&nbsp; Francielle Assis  | &nbsp;&nbsp; HR & HSEC Legal Coordinator  | &nbsp;&nbsp; Examines the area where a Project is located for environmental, emergency services and community-related risk factors.  |
| &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; Isabella Mendonca  | &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; General Counsel  | &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; Examine and/or prepares all documents related to a Project or Loan to ensure contracts meet Energea Global's requirements.  |
| &nbsp;&nbsp; Juan Carvajales  | &nbsp;&nbsp; Loan Analyst  | &nbsp;&nbsp; Compiles the IC Memo for Loans. <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; Julio Cezar dos Santos de Morais  | &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; Electrical Engineer  | &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; Ensures all Projects meet our MTR. Produces a "punch list" of failures to be remedied if necessary.  |
| &nbsp;&nbsp; Mike Silvestrini  | &nbsp;&nbsp; Managing Partner  | &nbsp;&nbsp; Originates and negotiates most investment opportunities.  |
| &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; Paulo Vieira  | &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; Director of Operations & Maintenance  | &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; Confirms cost and strategy for operating and maintaining Project investments.  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 16*

 *Specific Market Analysis*

The General Partner is actively evaluating several solar markets across LATAM, with a particular focus on distributed generation opportunities that align with the Company's investment strategy. These include a range of Projects-from rooftop and behind-the-meter systems to larger installations up to 10 MW-that deliver power directly to large commercial and industrial users, utilities, or end customers through structured "community solar" programs ("<u>DG</u>"). As demand grows across the region for affordable, clean, and resilient power, we believe that the DG segment presents a compelling opportunity to deploy capital efficiently while maintaining high standards for risk management and yield.

LATAM presents a diverse landscape for DG solar investment, shaped by strong solar irradiance, evolving regulatory support, rising electricity demand, and a growing private-sector appetite for decarbonization. The General Partner is currently prioritizing markets such as Colombia, Chile, Panama, and select Caribbean nations-each offering different catalysts for DG development. While the opportunity set is broad, the General Partner follows a deliberate, memo-driven process and will publish a formal market analysis prior to making any investments-either in Projects or Loans-in any new market. These memos include thorough evaluations of the local regulatory environment, counterparty risk, solar economics, financing conditions, and alignment with the Company's core investment objectives.

Colombia is the first approved market in our portfolio due to what we believe to be a combination of compelling policy support and strong fundamentals in the DG space. With a grid historically reliant on hydropower and increasingly exposed to climate-driven variability, Colombia is actively diversifying its energy mix. The regulatory foundation, including Law 1715, has enabled solar development through favorable net billing, tax incentives, and long-term power purchase agreements. The DG market, in particular, is supported by rising demand from large energy users seeking reliability and cost savings - whether through on-site installations, private PPAs, or community-based solar participation. We believe these conditions make Colombia an ideal starting point for the Company.

We believe that Chile also presents a mature DG opportunity set, with some of the best solar irradiance in the world and a transparent, liberalized energy sector. The market supports both net billing and merchant DG models, with promising potential in commercial-scale systems and hybrid storage applications. We believe that Panama, while more modest in scale, offers a stable macroeconomic backdrop, dollarized currency, and recent regulatory advances in net metering and renewable incentives that support commercial solar uptake. Select Caribbean markets - such as the Dominican Republic, Jamaica, and Barbados - are pursuing aggressive clean energy transition plans, and DG projects in those countries are expected to offer high avoided-cost economics in diesel-dependent grids, often backed by multilateral climate finance.

While the General Partner continues to explore these markets, investment activity will be limited to jurisdictions where a full market memo has been completed, reviewed, and approved. These memos serve as the foundation for all subsequent Project or Loan originations, ensuring that every investment is grounded in analysis and aligned with the Company's strategic mandate.

The following table highlights the first approved market-Colombia-along with its corresponding Investment Committee memo which details the General Partner's analysis and due diligence of the market:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; ***Location***  | &nbsp;&nbsp; ***Product***  | &nbsp;&nbsp; ***Target Investment***  | &nbsp;&nbsp; ***Market Analysis***  |
| &nbsp;&nbsp; Colombia  | &nbsp;&nbsp; Helios Loan\*  | &nbsp;&nbsp; $100,000,000\*  | &nbsp;&nbsp; [Exhibit 99.1](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/ex991.htm)  |

---

 *\* The Helios Loan is a revolving Loan and this amount represents the aggregate amount of loans which may be made under the Helios Loan. The Company has the right but not the obligation to fund amounts under the Helios Loan.*

 *Competition*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our net income will depend, in large part, on our ability to source, acquire and manage investments with attractive risk-adjusted yields. We expect to compete with many other entities engaged in renewable energy in the LATAM market, including individuals, corporations, and private funds, many of which have greater financial resources and lower costs of capital than we have.

There are numerous companies with investment objectives similar to ours. That said, the industry is going through a consolidation phase where a large pool of market participants is being consolidated into a smaller group of "successful" enterprises. Thus, we believe that we will have fewer competitors today than we would have had five years ago, but those competitors are generally larger and more sophisticated than those that have folded or sold their position in the market.

 *Page 17*

Competitive variables include market presence and visibility, amount of capital to be invested per Project and underwriting standards. To the extent that a competitor is willing to risk larger amounts of capital in a particular transaction or to employ more liberal underwriting standards when evaluating potential investments than we are, our investment volume and profit margins could be impacted. Our competitors may also be willing to accept lower returns on their investments and may succeed in buying the Projects that we have targeted for acquisition.

Although we believe that we are well-positioned to compete effectively in each facet of our business, there is competition in the market and there can be no assurance that we will compete effectively or that we will not encounter increased competition in the future that could limit our ability to grow the portfolio in the future and conduct our business effectively.

 *Our Revenue and Income*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The revenue will come from our Projects and the interest portion that we will receive from Borrowers on our Loans as well as the interest we may earn from any Company Investments. The Company expects to generate cash flow by opportunistically selling Projects, assigning Loans to other parties, and collecting Liquidated Damages from contractors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our Revenue Recognition Policy follows ASC-606 which is a five-step procedure:

---

| | |
|:---|:---|
| &nbsp;&nbsp; ***Procedure***  | &nbsp;&nbsp; ***Example***  |
| &nbsp;&nbsp; Step 1 - Identify the Contract  | &nbsp;&nbsp; Power Purchase Agreement or Loan Agreement  |
| &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; Step 2 - Identify the Performance Obligations  | &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; Delivery of electricity from solar plant or the issuance of debt  |
| &nbsp;&nbsp; Step 3 - Determine the Transaction Price  | &nbsp;&nbsp; Amount contractually signed with Customer or Borrower  |
| &nbsp;&nbsp; Step 4 - Allocate the Transaction Price | &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; Obligation is satisfied by transferring control of the electricity produced to the Customer  |
| &nbsp;&nbsp; Step 5 - Recognize Revenue  | &nbsp;&nbsp; At a point in time when the Customer or Borrower is invoiced  |

---

 *Our Operating Expenses*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company incurs a variety of costs and expenses ("<u>Company Operating Expenses</u>"), including:

· banking fees;

· legal expenses;

· payments to the General Partner for fees;

· fees to wire money from LATAM countries to the U.S.;

· payments to U.S. states to comply with their respective securities law ("<u>Blue Sky Laws</u>");

· debt service and transactional payments (where we borrow money at the Company level);

· annual financial audit expenses;

· U.S. taxes;

· LATAM taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Projects will also incur a variety of costs and expenses ("<u>Project Operating Expenses</u>"), including:

· payments to third parties to operate and maintain the Projects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 18*

 

· lease payments to landowners;

· debt service and transactional payments (where we borrow money at the Project level);

· utilities;

· on-site security;

· payments to the third party that manages customer electric bill credits;

· taxes paid to LATAM governments;

· banking fees;

· trust fees;

· project insurance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company's total operating expenses for the fiscal year ended December 31, 2025 were $44,432.

 *U.S. and Colombia Taxes* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This Offering Circular is not providing, or purporting to provide, any tax advice to Investors. Every potential Investor is advised to seek the advice of his, her or its own tax professionals before making this investment. The securities sold in this Offering may have issues related to taxation at many levels, including tax laws and regulations at the state, local and federal levels in the United States, and at all levels of government in non-U.S. jurisdictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; It is impractical to comment on all aspects of federal, state, local and foreign tax laws that may affect the tax consequences of participation in the Company. Therefore, each prospective Investor should satisfy himself, herself or itself as to the tax consequences of participating in the Company by obtaining independent advice from his, her or its own tax advisers. Furthermore, while the Company will furnish to you any information required to be provided to you under applicable tax laws, preparation and filing of each Investor's tax returns shall be such Investor's responsibility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following summarizes certain federal income tax consequences of acquiring Class A Investor Shares. This summary is based on the current tax laws of Colombia, the current U.S. Internal Revenue Code of 1986, as amended (the "<u>Code</u>"), the Treasury regulations issued by the Internal Revenue Service ("<u>Regulations</u>"), and current administrative rulings and court decisions, all as they exist today. The Company will report its income and losses using the calendar year ending December 31 (the "<u>Calendar Year</u>"). All of these tax authorities could change in the future (and such change may possibly be retroactive so as to result in different U.S. federal income tax consequences from those set forth below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This is only a summary, applicable to a generic Investor. Your personal situation could differ. We encourage you to consult with your own tax advisor before investing.

 *Colombia Taxes*

Interest and other income received by the Company from sources within Colombia, including payments under Loans or other credit arrangements, may be subject to Colombian withholding tax. Under current law, interest paid to non-resident lenders is generally subject to a withholding tax rate of 15%, subject to exceptions or reductions under applicable tax treaties or special regimes. Capital gains realized by the Company on the sale or disposition of certain Colombian assets may also be subject to Colombian income or capital gains tax at a rate of 10%, depending on the nature and situs of the asset, and whether any treaty relief is available.

Dividends distributed by Colombian entities to the Company may be subject to Colombian dividend withholding tax at a rate of 10% if paid from profits previously taxed at the corporate level, or at a higher grossed-up rate if paid from untaxed profits. Value-added tax ("<u>VAT</u>") is generally not imposed on interest or loan principal payments, but certain services provided in Colombia may be subject to VAT, currently at a standard rate of 19%, depending on the location and nature of the service.

 *Page 19*

The tax treatment of the Company's income from Colombia will depend in part on the nature of its investments, the characterization of such income under Colombian law, and the Company's ability to avoid creating a taxable presence in Colombia. Investors should be aware that Colombian tax laws are subject to change and may be interpreted or applied in a manner that results in adverse tax consequences to the Company or the Investors. Investors are urged to consult their own tax advisors regarding the Colombian tax consequences of an investment in the Company in light of their particular circumstances.

Please note that any investment in any other LATAM countries may have different tax effects than those described herein with respect to Colombia.

 *U.S. Federal Income Taxes*

The following is a summary of certain material United States federal income tax consequences of the ownership and disposition of the Class A Investor Shares but does not purport to be a complete analysis of all the potential tax considerations relating thereto. Except as explicitly set forth below, this discussion is limited to U.S. Holders (defined below) who hold the Class A Investor Shares as capital assets within the meaning of Section 1221 of the Code. This summary does not address the tax considerations arising under the laws of any United States state or local or any non-United States jurisdiction or under United States federal gift and estate tax laws. In addition, this discussion does not address tax considerations applicable to an Investor's particular circumstances or to Investors that may be subject to special tax rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As used herein, the term "<u>U.S. Holder</u>" means a beneficial owner of the Class A Investor Shares that is, for U.S. federal income tax purposes, an individual citizen or resident of the United States, a corporation (or any other entity taxable as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States or any state or political subdivision thereof or the District of Columbia, an estate the income of which is subject to U.S. federal income taxation regardless of its source, or a trust, if a court within the United States is able to exercise primary supervision over the administration of the trust and one or more U.S. persons control all of the substantial decisions of the trust or if a valid election is in place to treat the trust as a U.S. person.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition, if a partnership, including any entity or arrangement, domestic or foreign, classified as a partnership for United States federal income tax purposes, holds Class A Investor Shares, the tax treatment of a partner generally will depend on the status of the partner and upon the activities of the partnership. Accordingly, partnerships that hold Class A Investor Shares, and partners in such partnerships, should consult their tax advisors.

 *Classification as a Corporation*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company is a Delaware limited partnership but has affirmatively elected to be treated as a corporation under Subchapter C of the Code for federal income tax purposes. Thus, the Company will be taxed at regular corporate rates on its income before making any distributions to holders of Class A Investor Shares as described below.

The General Intangible Low-Tax Income ("<u>GILTI</u>") tax on foreign investments is more favorable to our investors under a corporate tax structure as opposed to a partnership, where the tax on international assets would be levied on individuals. Under a partnership, an investor would be responsible for 37% of all foreign profits generated from an international investment. A corporate tax structure allows the corporation to realize foreign tax credits. Under this corporate tax reporting structure, the corporate entity would only pay 21% tax on 50% of the foreign profits after foreign tax credits have been applied.

 *Taxation of Dividends*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The income of the Company will consist primarily of cash available for distribution ("<u>CAFD</u>") received from the SPE in the form of a dividend. Because the SPEs will be foreign corporations, these dividends will be "non-qualified dividends" within the meaning of the Code and therefore subject to tax at ordinary income tax rates ("qualified dividends," including dividends from most U.S. corporations, are subject to tax at preferential rates).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 20*

  *Foreign Tax Credit*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company, but not the Investors, might be entitled to credits for taxes paid by the SPEs in LATAM. Taxes imposed in LATAM which are not imposed on income may not receive a foreign tax credit.

 *Taxation of Distributions to Investors*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions to U.S. Holders out of the Company's current or accumulated earnings and profits, if any, will be taxable as dividends. A non-corporate U.S. Holder who receives a distribution constituting "qualified dividend income" may be eligible for reduced federal income tax rates. U.S. Holders are urged to consult their tax advisors regarding the characterization of corporate distributions as "qualified dividend income." Dividends received by a corporate U.S. Holder may be eligible for the corporate dividends-received deduction if certain holding periods are satisfied. Distributions in excess of the Company's current and accumulated earnings and profits will not be taxable to a U.S. Holder to the extent that the distributions do not exceed the adjusted tax basis of the U.S. Holder's Class A Investor Shares. Rather, such distributions will reduce the adjusted basis of such U.S. Holder's Class A Investor Shares. Distributions in excess of current and accumulated earnings and profits that exceed the U.S. Holder's adjusted basis in its Class A Investor Shares will be taxable as capital gain in the amount of such excess if the Class A Investor Shares are held as a capital asset. In addition, Section 1411 of the Code imposes on individuals, trusts and estates a 3.8% tax on certain investment income (the "<u>3.8% NIIT</u>").

 *Taxation Upon the Sale or Exchange of Class A Investor Shares*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upon any taxable sale or other disposition of Class A Investor Shares, a U.S. Holder will recognize gain or loss for federal income tax purposes on the disposition in an amount equal to the difference between the amount of cash and the fair market value of any property received on such disposition; and the U.S. Holder's adjusted tax basis in the Class A Investor Shares. A U.S. Holder's adjusted tax basis in the Class A Investor Shares generally equals his or her initial amount paid for the Class A Investor Shares and decreased by the amount of any distributions to the Investor in excess of the Company's current or accumulated earnings and profits. In computing gain or loss, the proceeds that U.S. Holders receive will include the amount of any cash and the fair market value of any other property received for their Class A Investor Shares, and the amount of any actual or deemed relief from indebtedness encumbering their Class A Investor Shares. The gain or loss will be long-term capital gain or loss if the Class A Investor Shares are held for more than one year before disposition. Long term capital gains of individuals, estates and trusts currently are taxed at a maximum rate of 20% (plus any applicable state income taxes) plus the 3.8% NIIT.

  *Alternative Minimum Tax*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Code imposes an alternative minimum tax on individuals and corporations. Certain items of the Company's income and loss may be required to be taken into account in determining the alternative minimum tax liability of Investors.

 *Taxable Year*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company will report its income and losses using the Calendar Year.

 *Tax Returns and Information; Audits; Penalties; Interest*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company will furnish each Investor with the information needed to be included in his or her federal income tax returns, if any; provided, however, the Investors shall be responsible for determining their adjusted basis in their respective Class A Investor Shares. Each Investor is personally responsible for preparing and filing all personal tax returns that may be required as a result of his purchase of Class A Investor Shares. The tax returns of the Company will be prepared by accountants selected by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If the tax returns of the Company are audited, it is possible that substantial legal and accounting fees will have to be paid to substantiate our position and such fees would reduce the cash otherwise distributable to Investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 21*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Investor must either report Company items on his or her tax return consistent with the treatment on the information return of the Company or file a statement with his tax return identifying and explaining the inconsistency. Otherwise the IRS may treat such inconsistency as a computational error and re-compute and assess the tax without the usual procedural protections applicable to federal income tax deficiency proceedings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Code imposes interest and a variety of potential penalties on underpayments of tax.

 *Other U.S. Tax Consequences*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The foregoing discussion addresses only selected issues involving Federal income taxes and does not address the impact of other taxes on an investment in the Company, including federal estate, gift, or generation-skipping taxes, or State and local income or inheritance taxes. Prospective Investors should consult their own tax advisors with respect to such matters.

 *Summary of Supporting Contracts* 

 *Project Contracts*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company will cause the SPEs to enter into five (5) main contracts for each Project:

 

· *Purchase and Sale Agreements*: When the General Partner identifies a project that it believes, in its sole discretion, meets the investment criteria of the Company, it signs a "<u>Purchase and Sale Agreement</u>" to acquire the rights to the Project from a Development Company.

· *Power Purchase Agreements*: In all cases, the SPEs will sell electricity produced by the Projects to Customers pursuant to a contract we refer to as a "<u>Power Purchase Agreement</u>" or a "<u>PPA</u>".

· *Purchase and Sale Agreements for Environmental Commodities*: In some cases, the SPEs will sell environmental commodities produced by the Projects to third parties pursuant to a contract we refer to as an "<u>Purchase and Sale Agreement for Environmental Commodities</u>".

 

· *Construction Contracts:* To build the Projects, the SPE will hire a third party to provide engineering, procurement, and construction services pursuant to a contract referred to as a "<u>Construction Contract</u>".

· *Project Maintenance Contracts*: The SPE will then hire a third party to operate and maintain the Projects pursuant to a contract we refer to as a "<u>Project Maintenance Contract</u>".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Although the final terms and conditions and contract title will most likely differ from Project to Project, we will attempt to ensure that the rights and obligations of the parties will generally be consistent across all of the Projects. However, there is no assurance that we will be able to negotiate consistent terms, and the terms and conditions of each contract may contain material differences.

 *Loan Contracts*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company will enter into three (3) main contracts when making a Loan to a Borrower:

· *Loan Agreement:* A Loan Agreement ("<u>Loan Agreement</u>") is a contract where the Lender provides funds to a Borrower up to a specified limit over a set borrowing period. The Borrower uses these funds to construct new solar projects. The Borrower grants the Lender a first-priority lien on all its assets as collateral, including the solar projects. The agreement includes conditions for advances, default triggers, and remedies for the Lender, with covenants ensuring compliance and asset segregation.

· *Collateral Agreements:* The "<u>Collateral Agreements</u>" are a collection of agreements and instruments designed to secure obligations under a Loan Agreement between a Borrower and the Company. These documents collectively establish, and perfect the Company's security interests in various assets and equity interests of the Borrower and related parties. They may include personal guarantees, corporate guarantees, promissory notes outlining repayment terms, and pledge agreements granting the Company priority liens on specific collateral. Supporting resolutions and certificates confirm the Borrower's authorization and compliance. The Collateral Agreements address repayment conditions, default remedies, rights over collateral, and ensure the Company's enforcement capabilities while defining limits on recourse where applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 22*

· *Trust Agreement:* Some, but not all, Loans will also have a "<u>Trust Agreement</u>". In circumstances where the General Partner requires more fiscal oversite over a Borrower, we will set up a trust which will receive all of the Borrowers revenue (usually payments for energy from their customers). The General Partner will instruct the Trustee to pay principal and/or interest payments owed to the Company prior to distributing the remaining cash to the Borrower for their use in operations.

 *Material Legal Proceedings* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the date of this Offering Circular, neither the Company, nor any of the Company's SPEs are currently involved in any material legal proceedings.

 *Factors Likely to Impact the Performance of the Company*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A comprehensive discussion on risks of investing in the Company can be found at the beginning of this Offering Circular. Below are risks that we believe deserve specific attention, as they have the highest likelihood of impacting Investor returns. Following each risk is a brief description of mitigating strategies to be employed by the General Partner:

* *Regulatory Environment:* Project economics depend on a changing
 regulatory environment, including rules for distributed generation,
 interconnection, credit allocation, and other sector regulations.
 Adverse regulatory changes could delay projects or reduce the value of
 energy credits and related revenues.
 

* *Mitigating Strategy:* Energea Global tracks regulatory
 developments and works with local advisors and industry partners to
 stay current. Underwriting includes buffers and contingency planning
 so that projects are not solely dependent on a single regulatory
 interpretation.
 

* *Foreign Country:* All projects in the Company are located
 outside the United States. Investing internationally may involve
 political, legal, and economic risks, including less predictable
 enforcement of contracts and potential changes in local laws and
 regulations.
 

* *Mitigating Strategy:* Energea Global operates with a local
 presence and uses local legal, tax, and operational resources to
 support execution and compliance. The team structures contracts and
 project documentation to reflect local requirements and to reduce
 operational friction.
 

* *Foreign Exchange:* Project revenues and costs may be denominated
 in foreign currency. If the foreign currency weakens versus the U.S.
 dollar, USD-denominated investor returns may be reduced even when
 local-currency performance meets expectations.
 

* *Mitigating Strategy:* Financial models incorporate
 conservative exchange rate assumptions and sensitivity analysis. The
 Company also seeks to match local-currency revenues with
 local-currency expenses where possible to reduce net currency
 exposure over time.
 

* *Construction:* If the Company invests in projects prior
 to completion, construction may be affected by weather, labor
 availability, contractor performance, design issues, and cost
 overruns. Any of these factors could delay commissioning or reduce
 project economics.
 

* *Mitigating Strategy:* Where feasible, the Company uses
 fixed-scope contracting, project oversight, and contract terms that
 allocate delay and performance risk to the appropriate parties.
 Underwriting includes contingency reserves and conservative
 timelines to reduce impact from unforeseen issues.
 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 23*

 

* *Customer Default:* Project cash flows depend on customers
 and subscribers making payments. If customers delay payment or
 default, or if broader economic conditions weaken customer credit
 quality, portfolio performance may be adversely affected.
 

* *Mitigating Strategy:* Revenue structures are designed to
 diversify exposure across many end customers rather than relying on
 a single counterparty. Underwriting includes conservative
 assumptions for delinquencies and defaults and is refined over time
 using operating data.
 

* *Concentration Risk:* The Company may be concentrated in a
 limited number of projects, regions, developers, or counterparties.
 Underperformance or disruption affecting a small number of projects
 may have a disproportionate impact on portfolio results.
 

* *Mitigating Strategy:* The Company seeks to diversify across
 multiple projects and counterparties over time and evaluates
 concentration as part of portfolio construction. Underwriting
 includes project-level diligence intended to reduce the probability
 of single-point failures.
 

* *Tax & Economic:* Changes in tax laws, audits, or shifts in
 effective tax rates may adversely affect profitability. Economic
 slowdowns, inflation, or other macroeconomic conditions in countries
 where the Company operates may impair customer payment behavior and
 project performance.
 

* *Mitigating Strategy:* Energea Global works with tax and legal
 advisors to support compliance and to monitor changes in applicable
 regulations. Underwriting includes conservative assumptions and
 stress scenarios to evaluate performance under adverse economic
 conditions.
 

 *Description of Property*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the date of this Offering Circular, the Company does not own any Projects and has made one (1) Loan (but the Company has not funded any portion of such Loan and has not received any payments thereunder) and therefore has no revenue.

 *Loans Issued* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the date of this Offering Circular, the Company has issued one (1) Loan.

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; ***Borrower Name***  | &nbsp;&nbsp;  **** <br> ***Closing Date***  | &nbsp;&nbsp; ***Maximum Loan Amount***  | &nbsp;&nbsp; ***Amount Lent as of date hereof***  | &nbsp;&nbsp; ***Memo***  |
| &nbsp;&nbsp; Helios Colombia S.A. E.S.P, and Energía de la Alta S.A. E.S.P  | &nbsp;&nbsp; 01/22/2025  | &nbsp;&nbsp; $100,000,000\*  | &nbsp;&nbsp; $0.00  | &nbsp;&nbsp; [Exhibit 99.2](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/ex992.htm)  |
| &nbsp;&nbsp; **Total**  |  |  | &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; **$0.00**  |  |

---

 *\*The Helios Loan is a revolving Loan and this amount represents the aggregate amount of loans which may be made under the Helios Loan. The Company has the right but not the obligation to fund amounts under the Helios Loan.*

 *management discussion and analysis of financial condition and result of Operations*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes thereto contained in this Offering Circular. The following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed in herein (see *Caution Regarding Forward-Looking Statements and Risk Factors*). Unless otherwise indicated, the latest results discussed below are as of December 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 24*

 *Summary of Key Accounting Policies* 

 *Investments*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For financial statement purposes, the Company accounts for investments in Projects under ASC 360. The Projects are carried at cost and will be depreciated on a straight-line basis over the estimated useful life of the related assets.

 *Impairment*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company evaluates for impairment under ASC 360, utilizing the following required steps to identify, recognize and measure the impairment of a long-lived asset to be held and used:

· Indicators of impairment - Consider whether indicators of impairment are present

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; · Test for recoverability - If indicators are present, perform a recoverability test by comparing the sum of the estimated undiscounted future cash flows attributable to the long-lived asset in question to its carrying amount (as a reminder, entities cannot record an impairment for a held and used asset unless the asset first fails this recoverability test).

· Measurement of an impairment - If the undiscounted cash flows used in the test for recoverability are less than the carrying amount of the long-lived asset, determine the fair value of the long-lived asset and recognize an impairment loss if the carrying amount of the long-lived asset exceeds its fair value.

  *Revenue Recognition*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company follows ASC 606 guidelines for revenue recognition. To apply this principle, the standard establishes five key steps:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; · Step 1: Recognize the contract with the Customer/Borrower

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; · Step 2: Specify performance obligations

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; · Step 3: Establish transaction price

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; · Step 4: Allocate transaction price to performance obligations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; · Step 5: Recognize revenue

 *Market Outlook and Recent Trends*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We believe that LATAM presents a compelling and evolving opportunity for investment in distributed solar energy. Driven by rising electricity demand, high commercial energy costs, improving regulatory frameworks, and strong solar resource availability, the region is increasingly embracing decentralized clean energy solutions. Many LATAM countries face grid reliability challenges, fuel price volatility, and a dependence on large-scale hydro or fossil fuel imports-factors that we believe underscore the need for a diversified and resilient power infrastructure. In this context, distributed solar generation has emerged as a practical and cost-effective solution, particularly for C&I consumers seeking energy savings, reliability, and long-term price stability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over the past several years, regulatory support for distributed energy resources has expanded across certain LATAM countries, including net metering frameworks, streamlined interconnection policies, and renewable energy targets. Financing activity has also increased, with development banks, multilaterals, and climate-focused private capital backing clean energy deployment at various scales. Technological advances in solar and battery storage, coupled with declining equipment costs, have further improved project economics, especially in middle-income countries with high utility rates and exposure to climate-related grid instability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 25*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; While regulatory maturity and credit quality vary across jurisdictions, a number of jurisdictions-such as Colombia, Chile, Panama, and select Caribbean nations-appear to be demonstrating clear momentum in enabling private-sector investment in distributed solar assets. We believe that as policy clarity improves and offtake demand grows, these jurisdictions are expected to continue expanding their distributed energy footprints. The General Partner believes LATAM represents an attractive region for disciplined, impact-aligned capital deployment, particularly through structured investments in distributed solar assets serving large energy users under long-term arrangements.

 *Distributions*

The Company intends to make distributions monthly, to the extent the General Partner, in its discretion, determines that cash flow is available for distributions and in a manner consistent with the Authorizing Resolutions. Below are the activities of the Company that generate the cash flow which could be used to fund distributions:

· Net income received from the Projects;

· Interest payments received from the Borrowers;

· Interest payments received from Company Investments;

· Net Proceeds from Capital Transactions;

o Originates from the sale or refinancing of Projects;

o Net proceeds are the gross proceeds of the capital transaction minus associated expenses, including debt repayment; and

· Liquidated Damages from Construction Agreements;

o Penalties paid by "<u>EPC</u>" Contractors when Projects are delivered behind schedule;

o Liquidated Damages are not booked as revenue but are considered distributable cash flow.

Provided we have distributable cash flow, the General Partner may authorize and declare distributions after retaining any amounts it determines are appropriate for reserves, anticipated expenses, debt service, capital needs, redemptions or other purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To the extent the Company has distributable cash flow but has no current or accumulated profit, such distributions are considered a return of capital for U.S. federal income tax purposes to the extent that the distributions do not exceed the adjusted tax basis of the U.S. Holder's Class A Investor Shares and reported to Investors on a Form 1099-B. To the extent the Company makes distributions from profits, such distributions will be classified as dividends and reported to Investors on a Form 1099-DIV.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Please note that in some cases, Investors have cancelled their purchase of Class A Investor Shares after distributions were made. In that case, the distribution allocated to that Investor is returned to the Company and the bookkeeping is updated to reflect the change in cash distributed. Thus, all figures below are subject to change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To date, the Company has made no distributions.

 *Past Operating Results*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company was formed on August 7, 2023 and commenced operations thereafter. Since formation, the Company's activities have consisted primarily of organizational matters, offering activities, regulatory compliance, preparation for investment operations and activities related to identifying, evaluating and structuring potential investments. The Company's initial offering statement under Regulation A was qualified by the Securities and Exchange Commission on February 5, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 26*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of December 31, 2025, the Company had not generated revenue from operations. Although the Company entered into the Helios Loan on January 22, 2025, no amounts had been funded under that facility as of December 31, 2025. As of the date of this Offering Circular, the Company has not funded amounts under the Helios Loan, has not made any additional loans or investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Operating Results for Fiscal Years ended December 31, 2025 and 2024</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of December 31, 2025 and 2024, the Company had total assets of $66,325 and $24,930, respectively. These balances were comprised of cash and cash equivalents of $39,739 and $1,310, other current assets of $686 and $414, and amounts due from related parties of $25,900 and $23,206, respectively. Total liabilities and partners'/members' equity were $66,325 and $24,930, respectively. Total liabilities were $11,190 and $22,674, while partners'/members' equity totaled $55,135 and $2,256, respectively. The increase in assets and equity was primarily attributable to additional capital contributions received during 2025 to support the Company's formation and investment readiness activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For the fiscal years ended December 31, 2025 and 2024, the Company generated no revenue in either period, as it had not yet deployed capital into Projects or originated loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total operating expenses for the fiscal years ended December 31, 2025 and 2024 were $44,432 and $35,139, respectively. These expenses consisted primarily of professional fees, organizational costs, and other general and administrative expenses incurred to support the Company's formation, regulatory compliance, and readiness for capital deployment. The increase in operating expenses in 2025 was primarily due to continued organizational and regulatory activities, including preparation for the Company's Regulation A offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For the fiscal years ended December 31, 2025 and 2024, the Company reported net losses of $44,665 and $34,732, respectively. Total other income/(expense) was $(233) and $407, respectively. The Company recorded comprehensive losses of $41,611 and $38,687, respectively, which include the impact of foreign currency translation adjustments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Overall, the Company remained in a pre-operational stage during both periods, with no revenue generation and operating results driven primarily by general and administrative expenses. The increase in net loss in 2025 reflects continued investment in organizational infrastructure and capital raising readiness in advance of deploying capital into Projects and loan investments.

 *Leverage*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company might borrow money to invest in Projects, depending on the circumstances at the time. If the Company needs to move quickly on a Project and has not yet raised enough capital through the Offering, it might make up the shortfall through borrowing. The General Partner will make this decision on an as-needed basis. As of the date of this Offering Circular, neither the Company nor the Projects currently have any loans.

 *Liquidity and Capital Resources*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other than investments made by the General Partner used to fund formation and operating expenses (such as in connection with the execution and delivery of the agreements setting forth the terms of the Helios Loan) , the Company has received no investments. The Company has no capital commitments and the Company has no immediately available sources of liquidity other than the proceeds of the Offering.

 *Method of Accounting*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The compensation described in this section was calculated using the accrual method in accordance with U.S. GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 27*

 

  *Directors, Executive Officers & Significant Employees*

 *Names, Positions, Etc.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company itself has no officers or employees. The individuals listed below are the Managing Partners, Executive Officers, and Significant Employees of Energea Global, the General Partner of the Company.

 

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; ***Name***  | &nbsp;&nbsp; ***Position with General Partner***  | &nbsp;&nbsp;  **** <br> ***Age***  | &nbsp;&nbsp; ***Term of Office***  | &nbsp;&nbsp; ***Approximate Hours Per Week If Not Full Time (1)***  |
| &nbsp;&nbsp; **Executive Officers**  |  |  |  |  |
| &nbsp;&nbsp; Mike Silvestrini | &nbsp;&nbsp; Managing Partner | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 01/01/2017 - Present | &nbsp;&nbsp; Full Time |
| &nbsp;&nbsp; Chris Sattler  | &nbsp;&nbsp; Managing Partner  | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 01/01/2017 - Present  | &nbsp;&nbsp; Full Time  |
| &nbsp;&nbsp; Gray Reinhard | &nbsp;&nbsp; Managing Partner, CTO | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 01/01/2020 - Present | &nbsp;&nbsp; Full Time |
| &nbsp;&nbsp; Isabella Mendonça  | &nbsp;&nbsp; Managing Partner, General Counsel  | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 10/02/2020 - Present  | &nbsp;&nbsp; Full Time  |
| &nbsp;&nbsp; **Significant Employees**  |  |  |  |  |
| &nbsp;&nbsp; Arthur Issa | &nbsp;&nbsp; Financial Analyst | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 05/23/2018 - Present | &nbsp;&nbsp; Full Time |
| &nbsp;&nbsp; Paulo Vieira  | &nbsp;&nbsp; Director of O&M  | &nbsp;&nbsp; 39 | &nbsp;&nbsp; 01/29/2024 - Present  | &nbsp;&nbsp; Full Time  |
| &nbsp;&nbsp; Francielle Assis | &nbsp;&nbsp; HR & HSEC Legal Coordinator | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 07/24/2023 - Present | &nbsp;&nbsp; Full Time |
| &nbsp;&nbsp; Marta Coelho  | &nbsp;&nbsp; Controller, Global  | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 12/07/2018 - Present  | &nbsp;&nbsp; Full Time  |
| &nbsp;&nbsp; Dave Rutty | &nbsp;&nbsp; Project Analyst | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 06/13/2022 - Present | &nbsp;&nbsp; Full Time |
| &nbsp;&nbsp; Julio Cezar dos Santos de Morais  | &nbsp;&nbsp; Electrical Engineer  | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 09/25/2023 - Present  | &nbsp;&nbsp; Full Time  |
| &nbsp;&nbsp; Juan Carvajales | &nbsp;&nbsp; Loan Analyst | &nbsp;&nbsp; 53 | &nbsp;&nbsp; 08/01/2023 - Present | &nbsp;&nbsp; Full Time |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *(1) The above listed employees do not record specific hours to each Company managed by Energea Global. Rather, the employees focus their full-time and energy to each Project, portfolio, or process as needed. The General Partner cannot estimate number of hours per week spent managing this or any particular Company as the employees are salaried. The work required to manage the Company and other companies managed by Energea Global changes from time to time depending on the number and frequency of Projects resulting from the amount they raise in each Offering. As the companies grow, dedicated staff are brought in to exclusively manage a specific company. As of December 31, 2025, there are no staff members exclusively dedicated to the Company and it is managed by the General Partner's executive team and certain significant employees.*

  *Family Relationships*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marta Coelho, the General Partner's Controller, is the sister-in-law of Mike Silvestrini, the Managing Partner. There are no other family relationships among the executive officers and significant employees of the General Partner.

 *Ownership of Related Entities*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energea Global, the General Partner of the Company, is majority owned by Mike Silvestrini, a resident of Chester, Connecticut.

 *Business Experience*

 *<u>Mike Silvestrini</u>*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mike is an accomplished professional with over 15 years of experience in the solar energy industry. He has played an executive key role in the development of over 500 solar projects across the United States, Brazil, and Africa while being directly responsible for nearly one billion of combined solar project finance.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 28*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Since 2017, Mike has been the Co-Founder & Managing Partner at Energea Global LLC. In his capacity as Co-Founder & Managing Partner of the General Partner, Mike directs the Investment Committee which determines the investment strategy for all funds managed by the business. To date, Energea Global manages four funds formed to acquire and operate solar power projects: the Company, Energea Portfolio 2 LP, Energea Portfolio 3 Africa LP, and Energea Portfolio 4 USA LP. See *Other Solar Energy Funds* below for the status each fund's offerings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Since 2015, Mike has served as a Board Member of the Big Life Foundation, an organization dedicated to preserving over 1.6 million acres of wilderness in East Africa. Through community partnerships and conservation initiatives, Big Life protects the region's biodiversity and promotes sustainable practices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From 2008 to 2017, Mike co-founded and served as the CEO of Greenskies Renewable Energy LLC, a leading provider of turnkey solar energy services. His expertise contributed to the development, financing, design, construction, and maintenance of solar projects across the United States. Notably, he was involved in solar installations on Target Corporation stores and distribution centers, Wal-Marts and Sam's Clubs, Amazon distribution centers, capped municipal landfills, and any schools and universities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mike's track record in renewable energy, his involvement in hundreds of solar projects worldwide, and his dedication to environmental sustainability position him as a driving force in managing investments in solar generating assets.

 

 *<u>Chris Sattler</u>*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chris is a seasoned energy entrepreneur with a proven track record in building and scaling companies in the renewable and retail energy sectors. Most recently, he served as Chief Executive Officer of IVI Energia, a joint venture between Energea Global and Brookfield Asset Management. Over his 18-month tenure, he led the company from inception to a $280 million valuation before returning to his role at Energea Global.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Earlier in his career, Chris co-founded North American Power and served as Chief Operating Officer. Under his leadership, the company expanded into more than 35 utility markets across the U.S., serving over one million residential and small commercial customers. In 2017, the company was acquired by Calpine Corporation with annual gross sales exceeding $850 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chris holds a Bachelor's degree in Real Estate and Urban Economics from the University of Connecticut School of Business and is an alumnus of Harvard Business School's Program for Leadership Development. He currently resides in Rio de Janeiro.

 

 *<u>Gray Reinhard</u>*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gray is an experienced software engineer specializing in business intelligence tools across multiple industries. Early in Gray's career, he worked primarily in E-Commerce where he built and supported sites for over 20 brands including several Fortune 500 companies. From there, Gray moved into renewable energy where he developed the project management software for the country's largest commercial solar installer, Greenskies. This custom platform managed everything from sales and financing to the construction, maintenance, and performance monitoring of over 400 solar projects owned by the company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prior to joining Energea Global in January 2020, Gray served as the CTO of Dwell Optimal Inc. which assists businesses providing employees with travel accommodations.

Gray studied at Princeton University.

 

 *<u>Isabella Mendonça</u>*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Isabella is a corporate lawyer with experience in cross-border M&A transactions and the drafting and negotiation of highly complex contracts and corporate acts in different sectors, such as energy, oil & gas and infrastructure. Isabella has previously worked as an attorney for Deloitte and Mayer Brown in Brazil, where she was an associate in the Energy group, working in regulatory, contractual and corporate matters related to renewable energy project development.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From 2016 until she joined Energea Global, Isabella was an associate in the corporate and securities practice at Mayer Brown in the Rio de Janeiro office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Isabella studied law at Fundacão Getulio Vargas, in Brazil and has a master's degree (LLM) from the University of Chicago.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 29*

 

 *<u>Arthur Issa</u>*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arthur Issa was one of the first employees at Energea Global, starting in May, 2018. Over the course of his time with the business, Arthur has participated in the successful closing of more than 100 MW of solar projects and developed the financial models that support more than $300mm of AUM. Arthur is responsible for financial modeling of all Projects and Loans at Energea Global. He also supports the company's corporate financial planning through detailed financial modelling, reporting and cash flow management. As an integral part of the team, he provides the tools necessary for management to make investment decisions for Energea Global and the Company. Arthur has a B.S. in Production Engineering from University Candido Mendes in Rio de Janeiro, Brazil.

 

 *<u>Paulo Vieira</u>*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paulo is an accomplished electrical engineer with a master's degree in Energy Resources Engineering and over 5 years of leadership experience in the renewable energy sector. He currently serves as the Global O&M Manager at Energea Global, where he oversees operations and maintenance across a global portfolio of photovoltaic assets spanning the USA, Brazil, and South Africa. Paulo is a member of Energea Global's Investment Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specializing in solar energy systems, Paulo has led the operations of more than 2.2 GW of solar projects. His expertise includes O&M strategy development, performance optimization, technical team leadership, and cost control initiatives aimed at improving operational KPIs and financial performance. His professional journey includes strategic roles at Recurrent Energy, Enel Green Power, COMERC Energia, Solarig, and AKTOR SA, where he managed large-scale solar assets and drove operational excellence through data-driven decision-making and cross-functional coordination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paulo also brings a strong academic foundation, with a postgraduate specialization in Photovoltaic Solar Systems and international experience through Brazil's Scientific Mobility Program in the U.S., where he studied at The University of Texas at El Paso. He is deeply committed to advancing clean energy and delivering high-impact, data-driven solutions in the solar power sector.

 *<u>Francielle Assis</u>*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Francielle has over five years of professional legal experience with a focus on labor and corporate law within large-scale corporate environments. Since September 2024, she has served as HR & HSEC Legal Coordinator at Energea Global. In that capacity, she ensures compliance with labor laws and regulations for all corporate Human Resources and oversees the company's Health, Safety, Environment and Community ("<u>HSEC</u>") compliance and risk mitigation. Her responsibilities include managing labor litigation, advising on employment law matters, and coordinating with regulatory agencies and external legal counsel. She also attends site visits for each Project to opine on the community and security risk prior to investment and sits on Energea Global's Investment Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prior to joining Energea Global, Francielle was a Senior Strategic Labor Attorney at CPFL Energia, one of Brazil's largest energy companies. There, she led complex employment litigation strategies and advised on collective labor issues. She also served as Labor Attorney at CPFL, supporting operational and strategic labor matters across the company's various business units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Earlier in her career, Francielle worked in both private law firms and governmental institutions, handling labor and civil litigation. Her experience includes managing procedural strategies and representing corporate clients in both individual and collective labor disputes, demonstrating a high level of legal and operational competence.

 *<u>Marta Coelho</u>*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Since 2018, Marta Coelho has served as the Controller at Energea Global, bringing with her a wealth of experience and expertise in finance and accounting. As the global Controller, Marta plays a crucial role in managing all financial aspects, including account management, taxation, and audits, for Energea Global's diverse range of operating entities and projects across Africa, Brazil, and the USA. Marta leads a team of subordinate controllers and accountants at Energea Global and coordinates with a bench of third-party accounting firms across our jurisdictions of operation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 30*

 

 *<u>Dave Rutty</u>*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dave is a highly experienced solar professional with over 12 years of hands-on experience building, maintaining, and managing solar projects. As a Project Analyst at Energea Global, he plays a pivotal role in overseeing construction and maintenance operations across all markets, ensuring projects are executed with precision, safety, and technical excellence. Dave is responsible for preparing Investment Committee memos across Energea Global's multidisciplinary team of experts to ensure all investments meet the company's stringent compliance requirements.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From 2020 to 2022, Dave served as a Managing Partner at SRES, a solar contracting company based in the northeastern U.S. Prior to that, Dave was served as the Vice President of Operations and Maintenance at Greenskies Renewable Energy LLC.

 

 *<u>Julio Cezar dos Santos de Morais</u>*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Julio is an experienced electrical engineer specializing in photovoltaic systems, currently serving as an Electrical Engineer at Energea Global since October 2023. He oversees project design, field and factory inspections, and engineering analysis for distributed generation systems. His technical expertise includes tools such as PVSyst, AutoCAD, and protection design for medium-voltage applications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over the past nine years, Julio has held engineering roles at CPFL Renováveis, Deode Energia, MEPEN Energia, and others, where he managed solar projects exceeding 100 MW of combined solar power generation capacity. Julio led technical teams and performed system simulations and commissioning. He holds both bachelor's and master's degrees in Electrical Engineering from the Federal University of Technology - Paraná (UTFPR), with academic research published in the field of power electronics.

 *<u>Juan Carvajales</u>*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Juan is a seasoned business development professional with over 15 years of experience in the renewable energy sector across U.S. and Latin American markets. Since August 2023, he has worked as a Loan Analyst at Energea Global, where he supports investment strategies and portfolio architecture, leveraging his background in project development, financing, and cross-border renewable energy transactions to identify private credit opportunities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Before joining Energea Global, Juan held key leadership roles including Director of Business Development at GeneraSol (2007-2023) and Board Member at SUA Power Company (2021-2023), where he focused on structuring and executing solar PV and off-grid energy projects. He has also led utility-scale solar development at Grupo BAZ and has a foundational background in project and operations management. Juan holds a BBA from Politécnico Costa Atlántica and additional certifications in solar energy and environmental science.

 *Legal Proceedings Involving Executives and Directors*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Within the last five years, no Director, Executive Officer, or Significant Employee of the Company has been convicted of, or pleaded guilty or no contest to, any criminal matter, excluding traffic violations and other minor offenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Within the last five years, no Director, Executive Officer, or Significant Employee of the Company, no partnership of which an Executive Officer or Significant Employee was a general partner, and no corporation or other business association of which an Executive Officer or Significant Employee was an executive officer, has been a debtor in bankruptcy or any similar proceedings.

  *Other Solar Energy Funds*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energea Global, the General Partner of the Company, is also the general partner of three other funds formed to acquire and operate solar power projects, each of which is conducting an offering under Regulation A:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 31*

 

· Energea Portfolio 2 LP ("<u>Portfolio 2</u>"), which was formed to acquire and operate projects located in Brazil with residential and small business customers.

· Energea Portfolio 3 Africa LP ("<u>Portfolio 3</u>"), which was formed to acquire and operate projects located in Africa.

· Energea Portfolio 4 USA LP ("<u>Portfolio 4</u>"), which was formed to acquire and operate projects located in the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The status of each of the Company's, Portfolio 2, Portfolio 3 and Portfolio 4 current and prior offerings, as of December 31, 2025 is below:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; ***Energea Portfolio 2 LP***  | &nbsp;&nbsp; ***Energea Portfolio 3 Africa LP***  | &nbsp;&nbsp; ***Energea Portfolio 4 USA LP***  | &nbsp;&nbsp; ***Energea Portfolio 5 LATAM LP***  |
| &nbsp;&nbsp; Date of Initial Qualification  | &nbsp;&nbsp; 08/13/2020  | &nbsp;&nbsp; 08/2/2021  | &nbsp;&nbsp; 07/01/2021  | &nbsp;&nbsp; 02/05/2026  |
| &nbsp;&nbsp; Date of Current Qualification | &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; 03/26/2026  | &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; 03/26/2026  | &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; 03/26/2026  | &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; 02/05/2026  |
| &nbsp;&nbsp; Offering Amount Raised Through 12/31/25\*  | &nbsp;&nbsp; $36540098  | &nbsp;&nbsp; $8966847  | &nbsp;&nbsp; $7167127  | &nbsp;&nbsp; $169,150\*\*  |
| &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; Solar Projects Operating or Constructing  | &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; Eleven  | &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; Seventeen  | &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; Five  | &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; Current Maximum Offering Amount  | &nbsp;&nbsp; $50000000  | &nbsp;&nbsp; $50000000  | &nbsp;&nbsp; $50000000  | &nbsp;&nbsp; $50000000  |

---

*\*Gross of stock issuance costs*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *\*\* Start-up costs funded by the General Partner*

 *Compensation of General Partner*

Our General Partner is compensated when the Company pays the fees described in the table below ("<u>Fees</u>"):

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; ***Type of Fee***  | &nbsp;&nbsp; ***Timing of Fee***  | &nbsp;&nbsp; ***Description***  |
| &nbsp;&nbsp; Management Fees  | &nbsp;&nbsp; Ongoing  | &nbsp;&nbsp; The General Partner will charge the Company a management fee at an annualized rate of 1.5%, calculated and paid monthly. The fee will be calculated based on the Company's prior month-end NAV, gross of Management Fees and Carried Interest (see *Price of Class A Investor Shares*).  |
| &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; Carried Interest  | &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; Annually  | &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; The General Partner will be entitled to a 15.0% annual performance allocation based on the Company's Total Annual Return, subject to a 7.0% annual Preferred Return, a 100% catch-up, and a high-water mark / loss carryforward (see *Calculating Carried Interest*). <br>|
| &nbsp;&nbsp; Origination Fees  | &nbsp;&nbsp; When Projects and Loans are originated  | &nbsp;&nbsp; The General Partner might originate and develop Projects and Loans that are acquired by the Company. If so, the General Partner shall be entitled to compensation that is no greater than 5.0% of the Project's cost or the Loan's amount. <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; O&M and Credit Management Services ("<u>Ancillary Services</u>")  | &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; Ongoing as services are rendered according to contract  | &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; Energea Brazil provides O&M and Credit Management services to some of the Projects owned by the Company. After an extensive search to identify third parties to provide these services, the General Partner concluded that the nascent solar market in Brazil lacked cost-effective and experienced options for these tasks. Energea Brazil, on the other hand, agreed to provide these services at prices that were lower than those offered through the competitive search process and has extensive experience providing these services to hundreds of projects across multiple global markets. <br>|
| &nbsp;&nbsp; Interest on Loans  | &nbsp;&nbsp; Whenever due and payable  | &nbsp;&nbsp; The General Partner might lend to the Company to fund the acquisition or investment in Projects and Loans or for other purposes. Such a loan will bear interest at market rates. The amount of interest will depend on the amount and term of any such loans. <br>|

---

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 32*

  *Calculating Carried Interest*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For the purpose of calculating Carried Interest, we shall use the following defined terms:

· "<u>Base NAV</u>" means the Company's Net Asset Value ("<u>NAV</u>") on the first day of a calendar month.

· "<u>Net Contributions</u>" means, for any calendar month, capital contributions, subscriptions or share issuances during such calendar month, net of redemptions, repurchases or other capital withdrawals.

· "<u>Total Monthly Return</u>" means, for any calendar month, the sum of (i) distributions paid to Investors, plus (ii) the change in Base NAV compared to the previous month, minus (iii) Net Contributions.

· "<u>Total Annual Return</u>" is the sum of the twelve consecutive Total Monthly Return amounts for the Calendar Year.

· "<u>Preferred Return Rate</u>" means a 0.583% per month (7.0% per annum).

· "<u>Monthly Preferred Return Amount</u>" is the Preferred Return Rate multiplied by the Base NAV.

· "<u>Annual Preferred Return Amount</u>" is the sum of the twelve consecutive Monthly Preferred Return Amounts for the Calendar Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; During the first quarter of each Calendar Year, the General Partner will calculate the Total Annual Return for the previous Calendar Year. To the extent the Total Annual Return exceeds the Annual Preferred Return Amount, such excess shall be allocated first, 100% to the General Partner until the General Partner has received the amount necessary to produce the 15% Carried Interest for such Calendar Year, and thereafter 85% to Investors and 15% to the General Partner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If the Total Annual Return is less than the Annual Preferred Return Amount, the shortfall will be carried forward through a high-water mark/loss carryforward mechanism and must be recovered before Carried Interest may be earned in a future Calendar Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; While calculated and accrued on a monthly basis, Carried Interest will only crystallize at the end of each Calendar Year.

 *Deferment of Fees*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; While the General Partner is not entitled to any compensation other than the Fees, it may defer some or all Fees at any time based on the General Partner's assessment of the cash flow at the Company ("<u>Deferred Fees</u>"). Some Fees may be deferred indefinitely at the discretion of the General Partner. To date, the General Partner has provided services without charging the full amount owed by the Company. As the Company and its cash flow stabilize, the General Partner may charge for Deferred Fees - see *Fees Paid to General Partner*.

 *Fees Paid to General Partner*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As the Company grows, markets, exceeds Preferred Returns and requires the General Partner for Ancillary Services, fees are accrued to the General Partner, some of which are deferred, as described above. Below is a table which calculates the total amounts paid to the General Partner from all possible fees, which have been paid as of December 31, 2025:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 33*

 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; ***Fee Type***  | &nbsp;&nbsp; ***Fees Paid to General Partner in 2025***  | &nbsp;&nbsp; ***Fees Paid Since Inception***  |
| &nbsp;&nbsp; Asset Management Fee  | &nbsp;&nbsp; -  | &nbsp;&nbsp; -  |
| &nbsp;&nbsp; Carried Interest | &nbsp;&nbsp; -  | &nbsp;&nbsp; -  |
| &nbsp;&nbsp; Origination Fees  | &nbsp;&nbsp; -  | &nbsp;&nbsp; -  |
| &nbsp;&nbsp; Ancillary Services | &nbsp;&nbsp; -  | &nbsp;&nbsp; -  |
| &nbsp;&nbsp; Interest on Loans  | &nbsp;&nbsp; -  | &nbsp;&nbsp; -  |
| &nbsp;&nbsp; **TOTAL** | &nbsp;&nbsp; **-**  | &nbsp;&nbsp; **-**  |

---

 *Co-Investment*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Partner and its affiliates might purchase Class A Investor Shares. If so, they will be entitled to the same distributions as other Investors holding such type of shares. If such investment is made to facilitate the Company's acquisition of or investment in Projects before there are sufficient proceeds from this Offering, the General Partner will be entitled to redeem its Class A Investor Shares from additional Offering proceeds as they are raised. As of April 30, 2026, the General Partner did not own any Class A Investor Shares which was 0.0000% of all outstanding shares as of that date.

 *Security Ownership of General Partner and Certain Securityholders* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the date hereof, the individuals named below own Class A Investor Shares and such individuals, as well as other employees of the General Partner may own Class A Investor Shares that they purchased privately through the Platform in the same manner as any Investor.

The following table sets forth the approximate beneficial ownership of our Class A Investor Shares as of April 30, 2026, for each person or group that holds more than 10.0% of our Class A Investor Shares, and for each director and executive officer of our General Partner and for the directors and executive officers of our General Partner as a group.

 

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; ***Name of Beneficial Owner (1)(2)***  | &nbsp;&nbsp; ***Number of Shares Beneficially Owned***  | &nbsp;&nbsp; ***Amount and Nature of Beneficial Ownership Acquirable***  | &nbsp;&nbsp; ***Percent of All Shares***  |
| &nbsp;&nbsp; Energea Global LLC  | &nbsp;&nbsp; 0  | &nbsp;&nbsp; N/A  | &nbsp;&nbsp; 0.0000%  |
| &nbsp;&nbsp; Michael Silvestrini | &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; 1892<sup>(3)</sup>  | &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; N/A  | &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; 0.0921%  |
| &nbsp;&nbsp; Christopher Sattler  | &nbsp;&nbsp; 0<sup>(3)</sup>  | &nbsp;&nbsp; N/A  | &nbsp;&nbsp; 0.0000%  |
| &nbsp;&nbsp; Grey Reinhard | &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;&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;&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; 133  | &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; N/A  | &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; 0.0065%  |
| &nbsp;&nbsp; All directors and executive officers of our General Partner as a group (3 persons)  | &nbsp;&nbsp; 2025 <br>| &nbsp;&nbsp; N/A <br>| &nbsp;&nbsp; 0.0986% <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *(1) Under SEC rules, a person is deemed to be a "beneficial owner" of a security if that person has or shares "voting power," which includes the power to dispose of or to direct the disposition of such security. A person also is deemed to be a beneficial owner of any securities which that person has a right to acquire within 60 days. Under these rules, more than one person may be deemed to be a beneficial owner of the same securities and a person may be deemed to be a beneficial owner of securities as to which he or she has no economic or pecuniary interest.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *(2) Each listed beneficial owner, person or entity has an address in care of our principal executive offices at 52 Main Street, Chester, CT 06412.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *(3) Includes shares beneficially owned by Energea Global LLC, under the control of its Class A Shareholders. Notably, Michael Silvestrini and Chris Sattler, as the largest principal shareholders, hold 41.10% and 32.10% of the shares of Energea Global LLC, respectively. (As of December 31, 2025)*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 34*

 

  *Interest of Management and Others in Certain Transactions*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company might enter into other transactions with related parties. If so, any compensation paid by the Company to the related party shall be (i) fair to the Company, and (ii) consistent with the compensation that would be paid to an unrelated party.

By "related party" we mean:

· The General Partner or a subsidiary of the General Partner;

· Any director, executive officer, or significant employee of the Company or the General Partner;

· Any person who has been nominated as a director of the Company or the General Partner;

· Any person who owns more than 10% of the voting power of the Company or the General Partner; and

· An immediate family member of any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the date of this Offering Circular, the Company has entered into transactions with related parties in one circumstance:

· *Credit Advance:* The Company entered into several credit advances from the General Partner to accelerate the availability of capital needed to make certain small payments. These amounts are recorded as do-to/do-from transactions and no interest is charged to the Company for these advances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company has not, and does not intend to, enter into any related party transaction with the General Partner or its subsidiaries or any other related party other than those transactions described above in *Compensation of General Partner*. As discussed above, the Company may pay or reimburse the General Partner for marketing expenses, management fees, Carried Interest, Ancillary Services and interest on loans. There are no other expenses, nor will there be other expenses in the future, where the Company pays a related party other than the Fees.

 

  *Securities Being Offered: the Class A Investor Shares*

 *Description of Securities*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company is offering up to $50,000,000 of Class A Investor Shares. All of the rights and obligations associated with the Class A Investor Shares are set forth in:

· The LP Agreement, which can be found [here](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/lpagmt.htm); and

· The Authorizing Resolution, which can be found [here](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/authresolution.htm).

 *Price of Class A Investor Shares*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The price of Class A Investor Shares is equal to the NAV, divided by the number of outstanding shares, divided by 0.95 (to accommodate marketing costs necessary for Class Reg A Investors to discover the investment opportunity, see below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The NAV is the Net Present Value ("<u>NPV</u>") of the Estimated Net Operating Income ("<u>Estimated NOI</u>") of the Company. The Estimated NOI calculation is the General Partner's estimation of future cash flow from Projects, Loans and Company Investments minus operating expenses at both the Project and Company levels.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To estimate cash flow from Projects, we estimate monthly energy produced by each Project using predictive software called PVsyst. To estimate monthly revenue for each Project, the energy rate described in the Power Purchase Agreement ("<u>Energy Rate</u>") is multiplied by projected kilowatt-hours ("<u>kWh</u>") throughout the term of the Power Purchase Agreements. We then deduct the expected Project Operating Expenses to determine the cash available for distribution to the Company from the Projects. We also include anticipated interest payments from Loans and anticipated returns from Company Investments, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 35*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company calculates the NPV of Estimated NOI using a discount rate determined by the Finance Committee of the General Partner (the "<u>Discount Rate</u>"). As of the date of this Offering, the Discount Rate is 11.0% per annum. The Discount Rate is subject to periodic review based on market conditions, interest rates, country risk, asset risk, financing conditions, portfolio composition and other factors deemed relevant. The Discount Rate is a valuation input only and is not a guaranteed return, promised yield, or target investor return.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A Investor Shares and Reg D Investor Shares each differ by the cost paid to third parties for discovering the investment opportunity. While Reg D Investors may pay a broker dealers of registered investment advisors, Class A Investors generally discover the Company through paid marketing channels such as digital marketing, podcast advertising, promotional events, etc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; When a Reg D Investor pays a broker dealer, for example, he, she or it pays the broker dealer directly as opposed to being charged to the Company. Only Class A Investors, who rely on broad marketing and communications to discover the Company, pay for such communications as a Company expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By dividing the baseline share price by 0.95, we assume marketing expenses of the Company at 5% of total sold Class A Investments. Spending more than 5% on marketing would unintentionally burden other classes of shares with Class A discovery costs. Thus, the Company caps marketing expenses at 5% of all Class A Investments.

 *Voting Rights*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investors will have no right to vote or otherwise participate in the management of the Company. Instead, the Company will be managed by the General Partner exclusively.

 *Limited Partnership Agreement*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The LP Agreement establishes Energea Global LLC, a Delaware limited liability company, as the General Partner.

  *Summary of LP Agreement and Authorizing Resolution*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following summarizes some of the key provisions of the LP Agreement and the Authorizing Resolution. This summary is qualified in its entirety by the LP Agreement itself, a copy of which can be found [here](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/lpagmt.htm), and by the Authorizing Resolution itself, a copy of which can be found [here](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/authresolution.htm).

 *Formation and Ownership*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company was formed in Delaware on August 7, 2023, pursuant to the Delaware Limited Liability Company Act. On June 17, 2025, the Company converted from a Delaware limited liability company to a Delaware limited partnership, pursuant to the Delaware Revised Uniform Partnership Act.

Under the LP Agreement, ownership interests in the Company are referred to as a "<u>Share</u>", while the owners, are referred to as "<u>Limited Partners</u>".

  *Shares and Ownership*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Partner adopted the Authorizing Resolution to create the Class A Investor Shares. Any Investor who buys Class A Investor Shares in the Offering will be a Limited Partner under the LP Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 36*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The interests in the Company are denominated by 2,501,000,000 Shares. 2,000,000,000 of these Shares are designated as either Class B Shares, Class C Shares, Class D Shares or Class I Shares, with the exact amount of each such class being determined by the General Partner. In accordance with the Partnership Agreement, the General Partner may reclassify any unsold existing class of Investor Shares into one or more classes by adopting one or more authorizing resolutions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Class A Investor Shares will, for the most part, be owned by Investors and are the subject of this Offering. As of April 30, 2026, the General Partner did not own any Class A Investor Shares. By adopting other authorizing resolutions, the General Partner may create, offer, and sell other classes of Investor Shares in the future, which could have rights superior to the rights of the Class A Investor Shares.

 *Management*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Partner has complete discretion over all aspects of the business conducted by the Company. For example, the General Partner may (i) create classes of Shares with such terms and conditions as the General Partner may determine in its sole discretion; (ii) issue Shares to any person for such consideration as the General Partner maybe determine in its sole discretion, and admit such persons to the Company as Limited Partners; (iii) engage the services of third parties to perform services on behalf of the Company; (iv) enter into one or more joint ventures; (v) purchase, lease, sell, or otherwise dispose of real estate and other assets including Projects or Loans, in the ordinary course of business or otherwise; (vi) enter into leases and any other contracts of any kind; (vii) incur indebtedness on behalf of the Company, whether to banks or other lenders; (viii) determine the amount of the Company's distributable cash (as described herein), and, subject to any authorizing resolutions, the timing and amount of distributions to Limited Partners; (ix) determine the information to be provided to the Limited Partners; (x) grant mortgages, liens, and other encumbrances on the Company's assets; (xi) make all elections under the Code and the provisions of State and local tax laws; (xiii) file a petition in bankruptcy; (xiv) discontinue the business of the Company; and (xv) dissolve the Company.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investors who purchase Class A Investor Shares will not have any right to vote on any issue other than certain amendments to the LP Agreement, or to remove the General Partner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Partner can be removed for "cause" under a procedure set forth in Section 5.06 of the LP Agreement.

The term "cause" includes:

· An uncured breach of the LP Agreement by the General Partner; or

· The bankruptcy of the General Partner; or

 

· Certain misconduct on the part of the General Partner, if the individual responsible for the misconduct is not terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A vote to remove the General Partner for cause must be approved by Limited Partners owning at least seventy-five percent (75%) of the issued and outstanding Class A Investor Shares and the Reg D Shares, voting together as a single class (the Class A Investor Shares and the Reg D Shares being collectively referred to herein as the "<u>Investor Shares</u>"). Whether "cause" exists would then be decided in arbitration proceedings conducted under the rules of the American Arbitration Association, rather than in a court proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; These provisions are binding on every person who acquires Class A Investor Shares, including those who acquire Class A Investor Shares from a third party, i.e., not from the Company.

  *Exculpation and Indemnification of General Partner*

The LP Agreement protects the General Partner and its employees and affiliates from lawsuits brought by Investors. For example, it provides that the General Partner will not be liable to the Company for mistakes, errors in judgment, or other acts or omissions (failures to act) as long as the act or omission was not the result of the General Partner's fraud or willful misconduct under the LP Agreement. This limitation on the liability of the General Partner and other parties is referred to as "exculpation."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 37*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The LP Agreement also requires the Company to indemnify (reimburse) the General Partner, its affiliates, and certain other parties from losses, liabilities, and expenses they incur in performing their duties. For example, if a third party sues the General Partner on a matter related to the Company's business, the Company would be required to indemnify the General Partner for any losses or expenses it incurs in connection with the lawsuit, including attorneys' fees. However, if it is judicially determined that such General Partner is not entitled to be exculpated under the standard described in the preceding paragraph by the LP Agreement, the General Partner shall promptly reimburse the Company for any reimbursed or advanced expenses.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notwithstanding the foregoing, no exculpation or indemnification is permitted to the extent such exculpation or indemnification would be inconsistent with the requirements of federal or state securities laws or other applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The detailed rules for exculpation and indemnification are set forth in section 6.02 of the LP Agreement.

 *Obligation to Contribute Capital*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Once an Investor pays for his, her, or its Class A Investor Shares, the Investor will have no obligation to make further contributions to the Company (except for the return of distributions under certain circumstances as required by Sections 17-607 and 17-804 of the Delaware LP Act, as described in more detail under *Liability To Make Additional Contributions* below.

 *Personal Liability*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No Investor will be personally liable for any of the debts or obligations of the Company.

 *Distributable Cash Flow*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The manner in which the Company will distribute its available cash is described in *Distributions*.

 *Transfers and First Right of Refusal*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In general, Investors may freely transfer their Class A Investor Shares. However, if an Investor wants to sell Class A Investor Shares, the Investor may only offer the Class A Investor Shares to the General Partner via the Platform. The General Partner generally has a first right of refusal to purchase Class A Investor Shares pursuant to Article 8 of the LP Agreement. See *Risk Factors-No Market for the Class A Investor Shares; Limits on Transferability*.

  *Death, Disability, Etc.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an Investor who is a human being (as opposed to an Investor that is a legal entity) should die or become incapacitated, the Investor or his, her or its successors will continue to own the Investor's Class A Investor Shares.

 *Fees to General Partner and Affiliates*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company will pay certain management fees and other fees to the General Partner, as summarized in *Compensation of General Partner*.

  *Mandatory Redemptions*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Partner may require an Investor to sell his, her, or its Class A Investor Shares back to the Company:

· If the Investor is an entity governed by the Employee Retirement Income Security Act of 1974, Code section 4975, or any similar Federal, State, or local law, and the General Partner determines that all or any portion of the assets of the Company would, in the absence of the redemption, more likely than not be treated as "plan assets" or otherwise become subject to such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 38*

 

· If the General Partner determines that the Investor has engaged in certain misconduct described in the LP Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an Investor's Class A Investor Shares are purchased by the Company as provided above, the price will be equal to 90% of the then-current share price of such Class A Investor Shares as published on the Platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The purchase price will be paid by wire transfer or other immediately available funds.

  *"Drag-Along" Right*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If the General Partner wants to sell the business conducted by the Company, it may affect the transaction as a sale of the Project owned by the Company or as a sale of all the Shares in the Company. In the latter case, Investors will be required to sell their Class A Investor Shares as directed by the General Partner, receiving the same amount they would have received had the transaction been structured as a sale of assets.

 *Electronic Delivery*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All documents, including all tax-related documents, will be transmitted by the Company to Investors via email and/or through the Platform.

 *Amendment*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The General Partner may amend the LP Agreement unilaterally (that is, without the consent of anyone else) for a variety of purposes, including to:

· Cure ambiguities or inconsistencies in the LP Agreement;

· Add to its own obligations or responsibilities;

· Conform to this Offering Circular;

· Comply with any law;

 

· Ensure that the Company isn't treated as an "investment company" within the meaning of the Investment Company Act of 1940;

· Do anything else that could not reasonably be expected to have a material adverse effect on Investors.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An amendment that has, or could reasonably be expected to have, a material adverse effect on Investors, requires the consent of the General Partner and Investors holding a majority of the Class A Investor Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An amendment that would require an Investor to make additional capital contributions, delete or modify any amendments listed in Section 11.03 of the LP Agreement or impose personal liability on an Investor requires the consent of the General Partner and each affected Investor.

 *Information Rights*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Within a reasonable period after the end of each fiscal year of the Company, the General Partner will provide Investors with (i) a statement showing in reasonable detail the computation of the amount distributed, and the manner in which it was distributed (ii) a balance sheet of the Company, (iii) a statement of income and expenses, and (iv) such additional information as may be required by law. The financial statements of the Company need not be audited by an independent certified public accounting firm unless the General Partner so elects or the law so requires. While the Company currently maintains audited financial statements, under the LP Agreement, the Company is not required to maintain audited financial statements unless the General Partner so elects or the law so requires.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 39*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As a "tier 2" issuer under Regulation A, the Company will also be required to provide investors with additional information on an ongoing basis, including annual audited financial statements, annual reports filed on SEC Form 1-K, semiannual reports filed on SEC Form 1-SA, special financial reports filed on SEC Form 1-K, and current reports on SEC Form 1-U. If, however, our Class A Investor Shares are held "of record" by fewer than 300 persons, these reporting obligations could be terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Member's right to see additional information or inspect the books and records of the Company is limited by the LP Agreement.

 *Distributions in Liquidation*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributions made in liquidation of the Company will be made in the manner described *Distributions*, depending on whether the distributions consist of ordinary operating cash flow or net capital proceeds.

 *Preemptive Rights*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The holders of the Class A Investor Shares will not have preemptive rights. That means that if the Company decides to issue securities in the future, the holders of the Class A Investor Shares will not have any special right to buy those securities.

 *Liability to Make Additional Contributions*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Once an Investor pays for his, her, or its Class A Investor Shares, the Investor will have no obligation to make further contributions to the Company (except for the return of distributions under certain circumstances as required by Sections 17-607 and 17-804 of the Delaware LP Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Under Section 17-607 of the Delaware LP Act, a limited partnership may not make a distribution to a partner if, after the distribution, all liabilities of the limited partnership, other than liabilities to partners on account of their partnership interests and liabilities for which the recourse of creditors is limited to specific property of the limited partnership, would exceed the fair value of the assets of the limited partnership. The Delaware LP Act provides that a partner who receives a distribution and knew at the time of the distribution that the distribution was in violation of Section 17-607 of the Delaware LP Act shall be liable to the limited partnership for the amount of the distribution for three years.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Under Section 17-804 of the Delaware LP Act, a limited partnership is required to distribute its assets: (i) first to creditors, to the extent otherwise permitted by law, in satisfaction of the limited partnership's liabilities other than liabilities for which payment has been made and distributions to partners and former partners; (ii) unless otherwise provided in its limited partnership agreement, to partners and former partners in satisfaction of liability for distributions under the Delaware LP Act; and (iii) unless otherwise provided in its limited partnership agreement, to partners first for the return of their contributions and second respecting their partnership interests, in the portions in which they share in distributions. The Delaware LP Act provides that a member who receives a distribution and knew at the time of the distribution that the distribution was in violation of Section 17-804 of the Delaware LP Act shall be liable to the limited partnership for the amount of the distribution for three years.

 *Withholding*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In some situations, the General Partner might be required by law to withhold taxes and/or other amounts from distributions made to Investors. The amount we withhold will still be treated as part of the distribution. For example, if we distribute $100 to an Investor and are required to withhold $10 in taxes, for our purposes the Investor will be treated as having received a distribution of $100 even though only $90 was deposited in the Investor's bank account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At this time, all Investors are U.S. persons for all federal tax purposes. To the extent at any point in the future any Investors may be non-U.S. persons, the distributions to Investors may subject to additional tax withholding and other reporting requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 40*

 *No Guarantee*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company can only distribute as much cash flow as the Company has available for distributions (see *Distributions*). There is no guarantee that the Projects will generate enough cash flow, after paying expenses, to distribute enough to pay a positive return to Investors or even to return all their invested capital.

 *Redemption Plan*

Investors should note that the General Partner may, in its sole discretion, amend, suspend, or terminate the Redemption Plan at any time without prior notice for any reason, and the General Partner reserves the right to reject any Redemption Request at any time for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our Class A Investor Shares are currently not listed on a national securities exchange or included for quotation on a national securities market, and currently there is no intention to list our Class A Investor Shares. While Investors should view an investment in the Company as long-term, we are adopting a redemption plan ("<u>Redemption Plan</u>") whereby an Investor has the opportunity to obtain liquidity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At any time after sixty (60) days following the purchase of Class A Investor Shares, an Investor may request redemption of their Class A Investor Shares in accordance with the Company's Redemption Plan as set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In order to submit a redemption request ("<u>Redemption Request</u>") Investors must (1) submit a time-stamped request via the Platform, (2) have no more than one outstanding request at any given time, and (3) request that the Company redeem no more than $50,000 worth of Class A Investor Shares per request. In addition, the Redemption Plan is subject to certain liquidity limitations, which may fluctuate depending on the liquidity of the Company. We reserve the right to reject any Redemption Request at any time to protect our operations and our non-redeemed Investors, to prevent an undue burden on our liquidity, or for any other reason, including, what we deem to be a pattern of excessive, abusive or short-term trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As calculated below, the redemption price ("<u>Redemption Price</u>") may be reduced by a discount based on the time of the Redemption Request, rounded down to the nearest cent. The Redemption Price will be equal to (i) the current price of the Class A Investor Shares in effect at the time the Redemption Request is made, reduced by (ii) the aggregate sum of distributions, if any, with record dates during the period between the Redemption Request date and the redemption date. The current price of the Class A Investor Shares is published on the Platform, and Investors will be informed of the estimated Redemption Price at the time a Redemption Request is submitted, subject to the adjustment for distributions described above.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on the time when an Investor submits a Redemption Request, the Redemption Prices are set forth below:

---

| | |
|:---|:---|
| ***Holding Period from Date of Settlement***  | ***Redemption Price*** <br> ***(as percentage of per share redemption price)(1)***  |
| Settlement date to 60 days  | No Redemptions  |
| 60 days to 3 years  | 95.0 % (2) |
| More than 3 years  | 100.0 % (3) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *(1) The Redemption Price will be the per share price for our Class A Investor Shares in effect as of the time the Redemption Request is made (i) reduced by any distributions, if any, with record dates during the period between the Redemption Request date and the redemption date and (ii) rounded down to the nearest $0.01.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *(2) For Class A Investor Shares held between 60 days and three (3) years, the Redemption Price includes a fixed 5.0% discount based on the per share price for our Class A Investor Shares in effect at the time of the Redemption Request.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *(3) There is no discount to redemptions of Class A Investor Shares held at least three (3) years.*

 

Investors may withdraw their Redemption Request at any time before the redemption is paid. If we agree to honor a Redemption Request, such Redemption Request will be paid within 90 days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 41*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In light of the SEC's current guidance on redemption plans, we generally intend to limit redemptions in any calendar quarter to Class A Investor Shares whose aggregate value is 5.00% of the NAV of all of our outstanding Class A Investor Shares on the last business day of the preceding quarter, with excess capacity carried over to later calendar quarters in that Calendar Year, up to a maximum of 20.00% of the NAV of all of our Class A Investor Shares outstanding during any Calendar Year. Notwithstanding the foregoing, we are not obligated to redeem Class A Investor Shares under the Redemption Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We cannot guarantee that the funds, if any, set aside for the Redemption Plan will be sufficient to accommodate all Redemption Requests. In the event our General Partner determines, in its sole discretion, that we do not have sufficient funds available to redeem all of the Class A Investor Shares for which Redemption Requests have been submitted, such pending Redemption Requests will be honored on a first in first out basis, if at all. In the event that not all Redemption Requests are being honored in a given quarter, due to reaching the 5.00% quarterly limit or otherwise, the Redemption Requests not fully honored will carry over to the first business day of the next quarter and Investors will not need to submit a new Redemption Request the following quarter. Investors will be notified within 10 days of submitting a Redemption Request whether their request for Redemption has been accepted or denied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We intend to limit Investors to one (1) Redemption Request outstanding at any given time, meaning that, if an Investor desires to request more or less Class A Investor Shares be redeemed, such Investor must first withdraw the first Redemption Request. For Investors who hold Class A Investor Shares with more than one record date, Redemption Requests will be applied to such Class A Investor Shares in the order in which they settled, on a first in first out basis - meaning, those Class A Investor Shares that have been continuously held for the longest amount of time will be redeemed first. In addition, we intend to limit Redemption Requests to $50,000 worth of Class A Investor Shares per Redemption Request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition, our General Partner may, in its sole discretion, amend, suspend, or terminate the Redemption Plan at any time without prior notice, including to protect our operations and our non-redeemed Investors, to prevent an undue burden on our liquidity, following any material decrease in our NAV, or for any other reason. In the event that we suspend our Redemption Plan, we expect that we will reject any outstanding Redemption Requests and do not intend to accept any new Redemption Requests. In the event that we amend, suspend or terminate our Redemption Plan, we will file an Offering Circular supplement and/or Form 1-U, as appropriate, and post such information on the Platform to disclose such action. Therefore, you may not have the opportunity to make a Redemption Request prior to any potential termination of our Redemption Plan.

 *Rights of Common Shares*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investors will own the majority of the Class A Investor Shares while the General Partner will own all the Common Shares. As of April 30, 2026, the General Partner did not own any Class A Investor Shares as described herein. The principal rights associated with the Common Shares are as follows:

 

· *Distributions:* As the holder of the Common Shares, the General Partner will be entitled to the distributions of the Carried Interest.

· *Voting Rights:* The Common Shares will have no voting rights *per se*. However, the General Partner, in its capacity as the general partner of the Company, will control the Company.

· *Obligation to Contribute* Capital: Holders of the Common Shares will have no obligation to contribute capital to the Company.

· *Redemptions:* Holders of the Common Shares will have no right to have Common Shares redeemed.

 *Investment Agreements*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To purchase Class A Investor Shares, you are required to sign an investment agreement, the forms of which are attached hereto (*See How to Invest*). Each of the Investment Agreements enable Investors to make an initial purchase of Class A Investor Shares (to the extent the Investor is making a one-time purchase of the Class A Investor Shares). The Auto-Invest Agreement and the Auto-Reinvestment Agreement permit an Investor to make a one-time purchase of Class A Investor Shares and/or enable an Investor to elect to make additional purchases of Class A Investor Shares, pursuant to the terms of this Offering, on a periodic basis, by either (i) establishing with the Company, a plan for the Investor to automatically invest in the Offering on a periodic basis, subject to the terms of an Auto-Invest Agreement signed by the Investor and the Company or (ii) to reinvest the distributions the Investor receives from their Class A Investor Shares into the purchase of additional Class A Investor Shares, subject to the terms and conditions of the an Auto-Reinvestment Agreement, signed by the Investor and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 42*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Investment Agreements will limit your rights in several important ways if you believe you have claims against us arising from the purchase of your Class A Investor Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any claims arising from your purchase of Class A Investor Shares must be brought in the state or federal courts located in Wilmington, Delaware, which might not be convenient to you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; You would not be entitled to recover any lost profits or special, consequential, or punitive damages. However, that limitation does not apply to claims arising under federal securities laws.

 *Terms of Auto-Invest Agreement*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To the extent an Investor elects to automatically invest in the Offering on a periodic basis, such Investor will be subject to the terms and conditions of an Auto-Invest Agreement, which include, but are not limited to the following:

* 
 Upon signing the Auto-Invest Agreement, the Investor will indicate the
 number of additional Class A Investor Shares ("<u>Additional Shares</u>") the Investor intends to purchase and the intervals at which the
 Investor will make such purchases, following their initial purchase of
 Class A Investor Shares, on the Investor Information Sheet attached
 thereto.
 

 

* *Price*: The price of Additional Shares to be purchased by
 Investor shall be the same price at which Class A Investor Shares are
 then being offered in the Offering.
 

 

* *Opt Out:* The Investor will have the ability cancel or pause the
 Auto-Investments from the Purchaser's online Energea account settings
 (https://www.energea.com/users/auto-invest), or by giving the Company
 at least (30) calendar days' notice (via email).
 

 

* *Termination:* In accordance with Regulation A, the Investor will
 no longer be permitted to make Auto-Investments after the Offering is
 terminated.
 

 

* *Limitation:* The law limits how much an investor who is not
 "accredited" within the meaning of 17 CFR §230.501(a) may invest
 in the Offering. As such, the Investor's investments could be subject
 to a cutback, and the Auto-Invest Agreement subject to termination, in
 the event the Company meets or exceeds the maximum amount of the
 Offering or, in the event the investor is non-accredited, the
 Investor's cumulative amount of investments with the Company meets or
 exceeds the maximum investment amounts permitted by a non-accredited
 investor under Regulation A. Under either circumstance, the Investor
 would be redeemed for those Class A Investor Shares subject to the
 cutback.
 

 

* *No Transfer of Shares*: The Investor will be prohibited from
 transferring the Shares purchased pursuant to the terms of the
 Auto-Invest Agreement without complying with the terms of the
 Partnership Agreement, subject to rights of first refusal in favor of
 the Company and securities laws limitations.
 

* *Forum Selection*: The Auto-Invest Agreement is governed by the
 internal laws of Delaware. Pursuant to the terms of the Auto-Invest
 Agreement, if the Investor is not otherwise subject to service of
 process in Delaware, the Investor agrees to appoint and maintain an
 agent in Delaware to accept service, and to notify the Company of the
 name and address of such agent.
 

* *Potential for Cutback of Additional Shares Purchased*: As a Tier
 2 offering under Rule 251(a), the Investor's Class A Investor Shares
 could be
 subject to a cutback, and the agreement subject to termination, in
 the event the Company meets or exceeds the maximum amount of the
 Offering or, in the event the investor is non-accredited, the
 Investor's cumulative amount of investments with the Company meets
 or exceeds the maximum investment amounts permitted by a
 non-accredited investor under Regulation A. Under either
 circumstance, the investor would be redeemed for those Class A
 Investor Shares subject to the cutback.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 43*

 *Terms of Auto-Reinvestment Agreement*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To the extent an Investor elects to reinvest the distributions the Investor receives from their Class A Investor Shares into the purchase of additional Class A Investor Shares, such Investor will be subject to the terms and conditions of an Auto-Invest Agreement, which include, but are not limited to the following:

* 
 By signing the Auto-Reinvestment Agreement, the investor will agree to
 use a portion of the amount of the distributions received from the
 Company through the Investor's ownership of Class A Investor Shares to
 purchase Additional Shares.
 

 

* *Price*: The price of Additional Shares to be purchased by
 Investor shall be the same price at which Class A Investor Shares are
 then being offered in the Offering.
 

 

* *Opt Out:* The Investor will have the ability cancel or pause the
 Auto-Investments from the Purchaser's online Energea account settings
 (https://www.energea.com/users/auto-invest), or by giving the Company
 at least (30) calendar days' notice (via email).
 

 

* *Termination:* In accordance with Regulation A, the Investor will
 no longer be permitted to make Auto-Reinvestments after the Offering
 is terminated.
 

 

* *Limitation:* The law limits how much an investor who is not
 "accredited" within the meaning of 17 CFR §230.501(a) may invest
 in the Offering. As such, the Investor's investments could be subject
 to a cutback, and the Auto-Reinvestment Agreement subject to
 termination, in the event the Company meets or exceeds the maximum
 amount of the Offering or, in the event the investor is
 non-accredited, the Investor's cumulative amount of investments with
 the Company meets or exceeds the maximum investment amounts permitted
 by a non-accredited investor under Regulation A. Under either
 circumstance, the Investor would be redeemed for those Class A
 Investor Shares subject to the cutback.
 

 

* *Investor Promises*: The Investor promises, among other things,
 that the Shares shall not be transferred without complying with the
 terms of the Partnership Agreement, subject to rights of first refusal
 and securities laws limits.
 

* *Forum Selection*: The Auto-Reinvestment Agreement is governed by
 the internal laws of Delaware. If the Investor is not otherwise
 subject to service of process in Delaware, the Investor agrees to
 appoint and maintain an agent in Delaware to accept service, and to
 notify the Company of the name and address of such agent.
 

* *Potential for Cutback of Additional Shares Purchased*: As a Tier
 2 offering under Rule 251(a), the Investor's Class A Investor Shares
 could be
 subject to a cutback, and the agreement subject to termination, in
 the event the Company meets or exceeds the maximum amount of the
 Offering or, in the event the investor is non-accredited, the
 Investor's cumulative amount of investments with the Company meets
 or exceeds the maximum investment amounts permitted by a
 non-accredited investor under Regulation A. Under either
 circumstance, the investor would be redeemed for those Class A
 Investor Shares subject to the cutback.

 *Investment Limitations for Non-Accredited Investors*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to auto-reinvestments, investors will receive an email notification that the Company has made a distribution. The email will indicate what portion of the distribution will be reinvested to purchase additional Class A Investor Shares and will include a hyperlink to the then-current Offering Statement.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company maintains a ledger of each non-accredited investor to track the amounts such investor has made in order to ensure compliance with the exemption. Furthermore, the Company maintains a robust record-keeping system in order to monitor amounts raised under the Offering. To the extent the Company exceeds the total Offering amount, the Company will redeem those investors whose purchases of Class A Investor Shares were in excess of the limits of the Offering and all Auto-Reinvestment Agreements will be terminated, in each instance, pursuant to their terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 44*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upon receipt of the investor's Re-Investment Agreement, Investor Information Sheet, and confirmation that the investor has created an account on the Platform, the Company will take reasonable steps to evaluate whether the information the investor has provided is sufficient to establish whether such investor is accredited. If the investor is not accredited, then pursuant to Rule 251(d)(2)(i)(C), the Company will determine if the non-accredited investor's aggregate purchase price to be paid by the investor is no more than ten percent (10%) of the greater of such investor's: (1) annual income or net worth if a natural person; or (2) revenue or net assets for such purchaser's most recently completed fiscal year end if a non-natural person. The investor will provide this information on the Investor Information Sheet and on the Platform.

 *How To Invest*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To buy Class A Investor Shares, go to the Platform and follow the instructions. You will be asked for certain information about yourself, including:

· Your name and address

· Your email address

· Your social security number (for tax reporting purposes)

· Whether you are an "accredited investor"

· If you not an accredited investor, your income and net worth

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; You will also be asked to sign an Investment Agreement, a copy of which is available [here](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000005/investmentagmt.htm).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To the extent you wish to participate in the Offering by automatically investing on a periodic basis, you will be asked to sign an Auto-Invest Agreement, a copy of which is available [here](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000005/autoinvestagmt.htm).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To the extent you wish to participate in the Offering by electing to use the amount of distributions that you receive to purchase additional Class A Investor Shares, you will be asked to sign an Auto-Reinvestment Agreement, a copy of which is provided [here](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000005/autoreinvestagmt.htm).

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The minimum investment is $100. You will pay for your Class A Investor Shares using one of the options described on the Platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The information you submit, including your signed Investment Agreement, is called your "subscription." The General Partner will review your subscription and decide whether to accept it. The General Partner has the right to accept or reject subscriptions in our sole discretion, for any reason or for no reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; When you invest, your money will be held in an escrow account with a third party until your subscription is reviewed and the General Partner decides whether to accept it. When and if the General Partner confirms that your subscription is complete and decided to accept your subscription, the General Partner will release your money from the escrow account to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Once the General Partner has accepted your subscription, you will be notified by email and the investment process will be complete. The General Partner will also notify you by email if it does not accept your subscription, although it might not explain why.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; You will not be issued a paper certificate representing your Class A Investor Shares.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anyone can buy Class A Investor Shares. The General Partner does not intend to limit investment to people with a certain income level or net worth, although there are limits on how much non-accredited investors may invest in this Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 45*

  *Limit On The Amount A Non-accredited Investor Can Invest*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As long as an Investor is at least 18 years old, they can invest in this Offering. But if the Investor not an "accredited" investor, the amount they can invest is limited by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Under 17 CFR §230.501, a regulation issued by the SEC, the term "accredited investor" means:

· A natural person who has individual net worth, or joint net worth with the person's spouse, that exceeds $1 million at the time of the purchase, excluding the value of the primary residence of such person;

· A natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year;

· A trust with assets in excess of $5 million, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person;

· A business in which all the equity owners are accredited investors;

· An employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;

· A bank, insurance company, registered investment company, business development company, or small business investment company;

· A charitable organization, corporation, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets exceeding $5 million; or

· A director, executive officer, or general partner of the company selling the securities, or any director, executive officer, or general partner of a general partner of that issuer.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If the Investor falls within any of those categories, then the Investor can invest any amount permitted on the Platform. If the Investor does not fall within any of those categories, then the most they can invest in this Offering is the greater of:

· 10% of their annual income; or

· 10% of their net worth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; These limits are imposed by law, not by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company will determine whether an Investor is accredited when he, she, or it creates an account on the Platform.

 *Additional Information*

We have filed with the SEC an offering statement under the Securities Act on Form 1-A regarding this Offering. This Offering Circular, which is part of the offering statement, does not contain all the information set forth in the offering statement and the exhibits related thereto filed with the SEC, reference to which is hereby made. Upon the qualification of the offering statement, we will be subject to the informational reporting requirements that are applicable to Tier 2 companies whose securities are qualified pursuant to Regulation A, and accordingly, we will file annual reports, semi-annual reports and other information with the SEC. The SEC maintains a website at *<u>www.sec.gov</u>* that contains reports, information statements and other information regarding issuers that file with the SEC.

 *Page 46*

The information incorporated by reference herein is an important part of the offering statement and this Offering Circular. The following documents previously filed with the SEC are incorporated by reference into the offering statement and this Offering Circular:

· the Company's Annual Report for the fiscal year ended December 31, 2025 on [Form 1-K](https://www.sec.gov/Archives/edgar/data/1993443/000199344326000006/port5_1k_part2.htm)

You may review these filings on our website and may also request a copy of these filings at no cost, by contacting us at:

ENERGEA PORTFOLIO 5 LATAM LP

52 Main Street

Chester, CT 06412

 <u>www.energea.com</u>

(860)-316-7466

So long as we remain subject to the periodic reporting requirements of Regulation A, within 120 days after the end of each fiscal year we will file on the SEC's EDGAR website an annual report on Form 1-K. The annual report will contain audited financial statements and certain other financial and narrative information that we are required to provide to investors.

We also maintain a website at *<u>www.energea.com</u>,* where there may be additional information about our business, but the contents of that site are not incorporated by reference in or otherwise a part of this Offering Circular.

 *Legal matters*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certain legal matters with respect to the Class A Investor Shares will be passed upon by the law firm of Norton Rose Fulbright US LLP headquartered in New York, New York.

 *EXPERTS*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company's financial statements for the fiscal years ended December 31, 2025 and December 31, 2024 incorporated by reference in this Offering Circular have been audited by Whittlesey PC, an independent registered public accounting firm, as stated in its report appearing herein. The financial statements have been included in reliance upon that firm's report on its authority as an expert in accounting and auditing.

 *Index to Audited Financial Statements*

The financial statements of the Company can be found in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; · *Item 7. Financial Statements* of the Company's Annual Report on Form 1-K for the fiscal year ended December 31, 2025, which can be found [here](https://www.sec.gov/Archives/edgar/data/1993443/000199344326000006/port5_1k_part2.htm#_Item_7._Financial) or on the Platform at *<u>https://www.energea.com/investment/5</u>*.

Each of the foregoing reports is incorporated herein by reference. The Company will provide to each holder of securities, including any beneficial owner, upon oral or written request, at no cost to the requester, a copy of the financial statement information that is incorporated herein by reference.

 *Page 47*

  *Glossary of Certain Defined Terms*

 

---

| | |
|:---|:---|
| &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; 3.8% NIIT  | &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; A 3.8% Net Investment Income Tax on certain investment income of individuals, trusts, and estates under Section 1411 of the Code  |
| &nbsp;&nbsp; Acts  | &nbsp;&nbsp; The Investment Advisers Act of 1940 and the Investment Company Act of 1940, each as amended.  |
| &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; Additional Shares  | &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; Additional Class A Investor Shares the Investor intends to purchase after their initial purchase.  |
| &nbsp;&nbsp; Advisers Act  | &nbsp;&nbsp; *Investment Advisers Act of 1940, as amended.*  |
| &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; Ancillary Services  | &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; Support services like operations, maintenance, and credit management provided to solar projects.  |
| &nbsp;&nbsp; Annual Preferred Return Amount  | &nbsp;&nbsp; For any Calendar Year, the dollar amount required for Investors to achieve the Preferred Return for such Calendar Year, determined by applying the Preferred Return to the Base NAV for such Calendar Year and making appropriate adjustments for Net Contributions during such Calendar Year.  |
| &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; Authorizing Resolution  | &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; The authorization adopted by the General Partner pursuant to the LP Agreement that created the Class A Investor Shares.  |
| &nbsp;&nbsp; Base NAV  | &nbsp;&nbsp; For any Calendar Year, the Company's NAV as of the first day of such Calendar Year, after taking into account projected and accrued Management Fees, but before deduction for the Carried Interest being calculated.  |
| &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; Blue Sky Laws  | &nbsp;&nbsp; State securities regulations. |
| &nbsp;&nbsp; Borrowers  | &nbsp;&nbsp; A party that repays the Company for a Loan through principal and interest payments.  |
| &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; C&I  | &nbsp;&nbsp; Commercial and industrial offtakers |
| &nbsp;&nbsp; CAFD  | &nbsp;&nbsp; Cash available for distribution.  |
| &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; Calendar Year  | &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; The twelve-month period ending December 31.  |
| &nbsp;&nbsp; Carried Interest  | &nbsp;&nbsp; The 15.0% annual performance allocation payable to the General Partner based on Total Annual Return, subject to the Preferred Return, 100% catch-up, and high-water mark / loss carryforward.  |
| &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; CFCs  | &nbsp;&nbsp; Controlled foreign corporations |
| &nbsp;&nbsp; Class A Investor Shares  | &nbsp;&nbsp; The limited partnership interests in the Company being offered to Investors in this Offering.  |
| &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; Code  | &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; The Internal Revenue Code of 1986, as amended (i.e., the federal tax code).  |
| &nbsp;&nbsp; Collateral Agreements  | &nbsp;&nbsp; A collection of agreements and instruments designed to secure obligations under a primary financing arrangement between a borrower and a lender.  |
| &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; Company  | &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; Energea Portfolio 5 Colombia LP, a Delaware limited partnership, which is offering to sell Class A Investor Shares in this Offering.  |
| &nbsp;&nbsp; Company Investments  | &nbsp;&nbsp; Cash-on-hand investments generating returns, such as interest from savings accounts.  |
| &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; Company Operating Expenses  | &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; Costs and expenses incurred by the Company.  |
| &nbsp;&nbsp; Construction Contract  | &nbsp;&nbsp; The contract whereby the Company or SPE will hire a third party to provide to provide engineering, procurement, and construction services for a Project.  |
| &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; Customers  | &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; Collectively refers to entities purchasing electricity or utility services from the Company's renewable energy projects, as well as borrowers of Loans. This includes entities under long-term Power Purchase Agreements ("PPAs"), utility service contracts, and those receiving financing for renewable energy project development.  |
| &nbsp;&nbsp; Deferred Fees  | &nbsp;&nbsp; Fees postponed by the General Partner due to cash flow considerations, to be charged later at its discretion.  |
| &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; DERMS  | &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; Distributed Energy Resource Management Systems.  |
| &nbsp;&nbsp; Development Company/ies  | &nbsp;&nbsp; A company focused on acquiring and/or developing solar power projects.  |
| &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; DG  | &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; Distributed generation, where power is produced locally and delivered directly to users through systems like rooftop or community solar.  |
| &nbsp;&nbsp; Discount Rate  | &nbsp;&nbsp; The annual discount rate used by the General Partner as an input in determining NAV through the Company's discounted cash flow methodology.  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 48*

 

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| | |
|:---|:---|
| &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; Energea Global  | &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; Energea Global LLC, a Delaware limited liability company, which is owned by Michael Silvestrini and Chris Sattler and serves as the General Partner.  |
| &nbsp;&nbsp; Energy Rate  | &nbsp;&nbsp; The price per kWh  |
| &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; EPC  | &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; Engineering, Construction, and Procurement.  |
| &nbsp;&nbsp; Estimated NOI  | &nbsp;&nbsp; The estimated net operating income to be produced by the Company.  |
| &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; Exchange Act  | &nbsp;&nbsp; The Securities Exchange Act of 1934. |
| &nbsp;&nbsp; Fees  | &nbsp;&nbsp; Compensation paid to the General Partner.  |
| &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; FINRA  | &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; Financial Industry Regulatory Authority, Inc.  |
| &nbsp;&nbsp; Form 1-U  | &nbsp;&nbsp; SEC form used to report significant events or changes by companies under Regulation A.  |
| &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; General Partner  | &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; Energea Global LLC, a Delaware limited liability company.  |
| &nbsp;&nbsp; GILTI  | &nbsp;&nbsp; General Intangible Low-Tax Income, a federal U.S. tax on profits made by companies outside the United States.  |
| &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; Helios  | &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; Helios Colombia S.A. E.S.P and Energía de la Alta S.A. E.S.P, a Colombian utility company.  |
| &nbsp;&nbsp; Helios Loan  | &nbsp;&nbsp; A revolving loan issued to Helios, with the option for the Company to advance funds under specified terms.  |
| &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; HSEC  | &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; Health, Safety, Environment and Community  |
| &nbsp;&nbsp; Interconnection  | &nbsp;&nbsp; Permission to connect a project to the electric grid.  |
| &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; Investment Agreements  | &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; Contracts signed to purchase or reinvest in Class A Investor Shares, outlining limitations on investor rights.  |
| &nbsp;&nbsp; Investment Committee (IC)  | &nbsp;&nbsp; A multi-disciplinary committee of experienced renewable energy executives of the General Partner which decides which Projects the Company will invest in.  |
| &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; Investors  | &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; Anyone who purchases Class A Investor Shares in the Offering.  |
| &nbsp;&nbsp; Investor Shares  | &nbsp;&nbsp; Combined Class A Investor Shares and Reg D Shares held by Limited Partners, voting as a single class.  |
| &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; IPPs  | &nbsp;&nbsp; Independent Power Producers |
| &nbsp;&nbsp; IRR  | &nbsp;&nbsp; Internal rate of return.  |
| &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; JOBS Act  | &nbsp;&nbsp; *Jumpstart Our Business Startups Act of 2012*  |
| &nbsp;&nbsp; kWh  | &nbsp;&nbsp; *A single, billable unit of energy generated by a Project*  |
| &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; LATAM  | &nbsp;&nbsp; Latin America |
| &nbsp;&nbsp; Latin America  | &nbsp;&nbsp; Central America, South America and/or the Caribbean  |
| &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; Limited Partners  | &nbsp;&nbsp; *Owners of Investor Shares*  |
| &nbsp;&nbsp; LP Agreement  | &nbsp;&nbsp; The Company's Limited Partnership Agreement dated June 17, 2025.  |
| &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; Loan  | &nbsp;&nbsp; Money lent to Development Companies |
| &nbsp;&nbsp; Loan Agreement  | &nbsp;&nbsp; Company provides loans directly to Customers, secured by Project assets such as off-taker contracts or PPAs.  |
| &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; Monthly Preferred Return Amount  | &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; For any calendar month, the portion of the Annual Preferred Return Amount attributable to such calendar month, determined on a monthly accrual basis and making appropriate adjustments for Net Contributions during such calendar month.  |
| &nbsp;&nbsp; MTR  | &nbsp;&nbsp; Minimum Technical Requirement.  |
| &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; NAV  | &nbsp;&nbsp; Net Asset Value |
| &nbsp;&nbsp; Net Contributions  | &nbsp;&nbsp; For any Calendar Year, capital contributions, subscriptions or share issuances during such Calendar Year, net of redemptions, repurchases or other capital withdrawals during such Calendar Year.  |
| &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; NOI  | &nbsp;&nbsp; Net Operating Income. |
| &nbsp;&nbsp; NPV  | &nbsp;&nbsp; Net Present Value  |
| &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; Offering  | &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; The offering of Class A Investor Shares to the public pursuant to this Offering Circular.  |
| &nbsp;&nbsp; Offering Circular  | &nbsp;&nbsp; The Offering Circular you are reading right now, which includes information about the Company and the Offering.  |
| &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; O&M  | &nbsp;&nbsp; Operations and Maintenance |
| &nbsp;&nbsp; Partners  | &nbsp;&nbsp; The General Partner and the Limited Partners, collectively.  |
| &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; Platform  | &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; The General Partner's website: www.energea.com  |
| &nbsp;&nbsp; Portfolio 2  | &nbsp;&nbsp; Energea Portfolio 2 LP  |
| &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; Portfolio 3  | &nbsp;&nbsp; Energea Portfolio 3 Africa LP |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 49*

 

---

| | |
|:---|:---|
| &nbsp;&nbsp; Portfolio 4  | &nbsp;&nbsp; Energea Portfolio 4 USA LP  |
| &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; Power Purchase Agreement / PPA  | &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; A contract where the SPEs sell electricity generated by the projects directly to customers.  |
| &nbsp;&nbsp; PQA  | &nbsp;&nbsp; Post Qualification Amendment  |
| &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; Preferred Return Rate  | &nbsp;&nbsp; 0.583% per month (7.0% per annum) |
| &nbsp;&nbsp; Project  | &nbsp;&nbsp; A solar power product in which the Company invests.  |
| &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; Project Maintenance Contract  | &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; A contract with a third party engaged by the SPE to operate and maintain the projects after construction.  |
| &nbsp;&nbsp; Project Operating Expenses  | &nbsp;&nbsp; Costs and expenses incurred by the Project.  |
| &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; Purchase and Sale Agreement  | &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; A contract used by the Company to acquire Project rights from a Development Company.  |
| &nbsp;&nbsp; Purchase and Sale Agreements for Environmental Commodities  | &nbsp;&nbsp; A contract used when SPEs sell environmental commodities (e.g., renewable energy credits) produced by the projects to customers.  |
| &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; Redemption Plan  | &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; The redemption plan whereby Investors may request redemption of their Class A Investor Shares following 60 days after purchase.  |
| &nbsp;&nbsp; Redemption Price  | &nbsp;&nbsp; The price at which Redemption Requests will be processed, based on the current price per Class A Investor Shares at the time the Redemption Request is made, reduced by the aggregate sum of distributions, if any, with record dates during the period between the Redemption Request date and the redemption date, and subject to a discount based on the time the Redemption Request is submitted.  |
| &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; Redemption Request  | &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; A request for redemption submitted through the Platform for up to $50,000 in Class A Investor Shares.  |
| &nbsp;&nbsp; Reg D Investors  | &nbsp;&nbsp; Accredited investors participating in Reg D Offerings.  |
| &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; Reg D Offerings  | &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; Private securities offerings under Rule 506(c), open only to accredited investors.  |
| &nbsp;&nbsp; Reg D Shares  | &nbsp;&nbsp; Shares issued in Reg D Offerings.  |
| &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; Regulations  | &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; Regulations issued under the Code by the Internal Revenue Service.  |
| &nbsp;&nbsp; Regulation A  | &nbsp;&nbsp; Regulation A of the Securities Act of 1933 is an exemption from registration requirements for public offerings.  |
| &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; SEC  | &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; The United States Securities and Exchange Commission.  |
| &nbsp;&nbsp; Securities Act  | &nbsp;&nbsp; The Securities Act of 1933, as amended.  |
| &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; Share  | &nbsp;&nbsp; Ownership interest in the Company. |
| &nbsp;&nbsp; Site Access  | &nbsp;&nbsp; The Company's legal right to enter a property to build and maintain a solar project.  |
| &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; SPE  | &nbsp;&nbsp; Special-Purpose Entity |
| &nbsp;&nbsp; Total Annual Return  | &nbsp;&nbsp; The sum of the twelve consecutive Total Monthly Return amounts for the Calendar Year.  |
| &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; Total Monthly Return  | &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; For any calendar month, the sum of (i) distributions paid to Investors, plus (ii) the change in Base NAV compared to the previous month, minus (iii) Net Contributions.  |
| &nbsp;&nbsp; Trust Agreement  | &nbsp;&nbsp; Financing managed through trusts.  |
| &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; USD  | &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; The currency of the United States called dollars.  |
| &nbsp;&nbsp; U.S. GAAP  | &nbsp;&nbsp; United States Generally Accepted Accounting Principles.  |
| &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; U.S. Holder  | &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; A beneficial owner of Class A Investor Shares that is a U.S. citizen or resident, a U.S. corporation, a U.S. estate, or a U.S. trust as defined for federal income tax purposes.  |
| &nbsp;&nbsp; VAT  | &nbsp;&nbsp; Value Added Tax  |

---

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 50*

 

  *PART III - Exhibits*

 *Index to Exhibits and Description of Exhibits*

---

| | |
|:---|:---|
| &nbsp;&nbsp; ***Exhibit No.***  | &nbsp;&nbsp; ***Description of Exhibit***  |
| &nbsp;&nbsp; 2.1\*\* | &nbsp;&nbsp; [Certificate of Formation of the Company filed with the Delaware Secretary of State on August 7, 2023](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/certofformation.htm)  |
| &nbsp;&nbsp; 2.2\*\* | &nbsp;&nbsp; [Limited Liability Company Agreement of the Company dated August 12, 2023](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/llcagmt.htm)  |
| &nbsp;&nbsp; 2.3\*\* | &nbsp;&nbsp; [Certificate of Amendment of Certificate of Formation filed with the Delaware Secretary of State on December 3, 2024](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/certofformamdmt.htm)  |
| &nbsp;&nbsp; 2.4\*\* | &nbsp;&nbsp; [Certificate of Conversion from LLC to LP, filed June 17, 2025](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/certofconversion.htm)  |
| &nbsp;&nbsp; 2.5\*\* | &nbsp;&nbsp; [Limited Partnership Agreement of the Company dated June 17, 2025](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/lpagmt.htm)  |
| &nbsp;&nbsp; 2.6\* | &nbsp;&nbsp; [Authorizing Resolution of the Company dated May 28, 2026, superseding prior authorizing resolutions and amendments concerning the Class A Investor Shares.](port5_authresolution.htm)  |
| &nbsp;&nbsp; 3.1\*\* | &nbsp;&nbsp; [Redemption Plan](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/redemptionplan.htm)  |
| &nbsp;&nbsp; 4.1\*\* | &nbsp;&nbsp; [Form of Investment Agreement](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000005/investmentagmt.htm)  |
| &nbsp;&nbsp; 4.2\*\* | &nbsp;&nbsp; [Form of Auto-Invest Agreement](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000005/autoinvestagmt.htm)  |
| &nbsp;&nbsp; 4.3\*\* | &nbsp;&nbsp; [Form of Auto-Reinvestment Agreement](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000005/autoreinvestagmt.htm)  |
| &nbsp;&nbsp; 11.1\*\*  | &nbsp;&nbsp; [Consent of Independent Auditor (Whittlesey PC) dated January 27, 2026](https://www.sec.gov/Archives/edgar/data/1993443/000199344326000003/consentofauditor.htm)  |
| &nbsp;&nbsp; 11.2 | &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; Consent of Norton Rose Fullbright US LLP, to be filed by amendment (included in Exhibit 12)  |
| &nbsp;&nbsp; 12.1 | &nbsp;&nbsp; Legal opinion of Norton Rose Fullbright US LLP, including consent, to be filed by amendment  |
| &nbsp;&nbsp; 99.1\*\* | &nbsp;&nbsp; [Colombia Market Investment Committee Memo dated June 18, 2025](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/ex991.htm)  |
| &nbsp;&nbsp; 99.2\*\*  | &nbsp;&nbsp; [Helios Borrower Investment Committee Memo dated July 18, 2024](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000002/ex992.htm)  |
| &nbsp;&nbsp; 99.3\*\* | &nbsp;&nbsp; [Helios Loan and Security Agreement, by and among Energea Portfolio 5 LATAM LLC and Helios Energia S.A. E.S.P., dated January 22, 2025](https://www.sec.gov/Archives/edgar/data/1993443/000199344325000005/ex993.htm)  |
| &nbsp;&nbsp; 99.4\* | &nbsp;&nbsp; [Addendum No. 1 to Helios Loan and Security Agreement, dated February 28, 2026, replacing the Addendum No. 1 to Helios Loan and Security Agreement previously filed as Exhibit 99.4.](port5_ex99.htm)  |

---

*\* Filed herewith*

*\*\*Filed Previously*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 51*

 

  *Signatures*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the requirements of Regulation A, the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly caused this offering statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Chester, State of Connecticut, on June 4, 2026.

 <u>Energea Portfolio 5 LATAM LP</u>

By: Energea Global LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By <u>/s/ MICHAEL SILVESTRINI</u>

Name: Michael Silvestrini

Title: Co-Founder and Managing Partner

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This offering statement has been signed by the following person in the capacities and on the date indicated.

By <u>/s/ MICHAEL SILVESTRINI</u>

Name: Mike Silvestrini

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

Date: June 4, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Page 52*

## Ex1A-3

**ENERGEA PORTFOLIO 5 LATAM LP**

**AUTHORIZING RESOLUTION**

**CLASS A INVESTOR SHARES**

May 28, 2026

The undersigned, being the sole General Partner of Energea Portfolio 5 LATAM LP, a Delaware limited partnership (the "Company"), pursuant to the authority granted under the Company's Limited Partnership Agreement and applicable Delaware law, hereby adopts the following resolutions by written consent effective as of May 28, 2026.

**WHEREAS**

WHEREAS, the Company is conducting an offering of limited partnership interests pursuant to Regulation A under the Securities Act of 1933, as amended, as described in the Company's Offering Circular, as amended from time to time (the "Offering Circular");

WHEREAS, the Offering Circular contemplates the issuance of a class of limited partnership interests designated as "Class A Investor Shares" to investors participating in the offering;

WHEREAS, the General Partner has determined that it is advisable and in the best interests of the Company to authorize additional Class A Investor Shares for issuance in connection with the offering and future capital raising activities of the Company;

NOW, THEREFORE, BE IT:

**RESOLVED**

RESOLVED, that this Authorizing Resolution hereby supersedes and replaces in its entirety all prior authorizing resolutions, amendments, supplements, and related approvals concerning the Class A Investor Shares previously adopted by the Company, all of which shall be of no further force or effect as of the effective date hereof.

RESOLVED FURTHER, that the Company hereby authorizes the creation and issuance of Two Billion (2,000,000,000) Class A Investor Shares (the "Authorized Class A Shares"), having the rights, preferences, privileges and restrictions set forth in the Limited Partnership Agreement, the Offering Circular, and any applicable Authorizing Resolution previously adopted by the Company;

RESOLVED FURTHER, that the Authorized Class A Shares may be issued from time to time by the Company in such amounts, for such consideration, and on such terms as determined by the General Partner in its sole discretion, including pursuant to offerings conducted under Regulation A, or other applicable exemptions from registration under the Securities Act of 1933, as amended;

RESOLVED FURTHER, that the rights, preferences, privileges, restrictions, and other terms applicable to the Class A Investor Shares shall be as set forth in the Company's Limited Partnership Agreement and Offering Circular, each as amended from time to time.

RESOLVED FURTHER, that the officers, managers, and authorized representatives of the General Partner be, and each of them hereby is, authorized and directed, acting alone or together, to take any and all actions necessary or desirable to effectuate the foregoing resolutions, including without limitation:

* updating
 the Company's books and records;

* reflecting
 the authorized shares in the Offering Circular and related SEC filings;

* executing
 and delivering any certificates, agreements, notices, amendments, or other
 instruments; and

* taking
 any other action deemed necessary or appropriate to carry out the intent
 of these resolutions;

RESOLVED FURTHER, that all actions previously taken by the General Partner or any authorized person in connection with the authorization, preparation, offering, or issuance of the Class A Investor Shares described herein are hereby ratified, confirmed, and approved in all respects.

*[Remainder of page intentionally blank]*

 

IN WITNESS WHEREOF, the undersigned has executed this Written Consent effective as of the date first written above.

ENERGEA GLOBAL LLC, as General Partner of ENERGEA PORTFOLIO 5 LATAM LP

By: ___________________________<br> Michael Silvestrini, Manager

By: ___________________________<br> Christopher Sattler, Manager

## Ex1A-6

ADDENDUM No. 01 TO THE LOAN AND SECURITY AGREEMENT BY AND BETWEEN

**Energea Portfolio 5 LATAM LP and Helios Energía S.A.S. E.S.P.**

Dated: February 28, 2026

This Addendum No. 01 (the "<u>Addendum</u>") to the Loan and Security Agreement, dated as of January 22, 2025 (the "<u>Agreement</u>"), is entered into as of February 28, 2026 (the "<u>Effective Date</u>"), by and between Energea Portfolio 5 LATAM LP, a Delaware limited partnership ("<u>Energea</u>"), and Helios Energía S.A.S. E.S.P., a Colombian utility services provider company ("<u>Helios</u>") (collectively, the "<u>Parties</u>").

RECITALS

WHEREAS the Parties entered into that certain Loan and Security Agreement, dated as of January 22, 2025, which sets forth the terms and conditions under which Energea provides financing and security arrangements to Helios;

WHEREAS the Parties recognize the evolving nature of Colombia's electricity regulatory framework and acknowledge Helios's strategic intent to expand its portfolio beyond Government Projects and Energea Projects by investing in additional forms of distributed solar generation, including commercial and industrial (C&I) self-generation projects, community energy initiatives, marginal producer schemes, and virtual self-generation arrangements, as permitted under applicable Colombian law;

WHEREAS the Parties wish to amend and restate Section 1.49 of the Agreement to reflect this broader scope and ensure that such projects are duly included within the contractual definition of "<u>Projects</u>" for purposes of financing, oversight, reporting, and compliance under this Agreement, subject to perimeter controls to prevent leakage;

WHEREAS the Parties acknowledge that Section 1.66 of the Agreement designates *Credicorp Capital Fiduciaria S.A.* as the Trustee responsible for administering the Trust in accordance with the Trust Agreement and applicable laws, and the Parties have agreed to allow for the appointment of any fiduciary entity duly authorized to operate in Colombia, provided such entity is selected by Helios and approved in writing by Energea;

WHEREAS the Parties acknowledge that the Agreement refers to the term "<u>Indebtedness</u>" without providing a definition, and, for the purposes of legal certainty and contractual clarity, the Parties wish to incorporate a definition that reflects their mutual understanding;

WHEREAS the Parties wish to implement lender-grade cash capture and payment discipline through controlled accounts and standing instructions, including during any interim period before the Trust becomes effective;

WHEREAS the Parties agree to maintain liquidity protection through a Debt Service Reserve Account ("<u>DSRA</u>") with backward-looking reserve sizing consistent with the Reserve structure under the Agreement, enforceable mechanics, controlled account treatment, and objective replenishment rules aligned with the government payment cadence;

WHEREAS the Parties wish to resolve concerns regarding enforcement of security interests by implementing fair enforcement guardrails, including enforcement amount caps applicable to all security interests under the Loan Documents, independent valuation, surplus return mechanisms, two-tier enforcement sequencing, and a fraud carve-out;

WHEREAS the Parties agree to implement perimeter controls to prevent leakage through additional projects, side vehicles, and related-party channels, and to upgrade reporting so the Lender can monitor compliance on a monthly basis;

WHEREAS the Parties acknowledge that Section 1.45 of the Agreement, which defines the role of the Operational Assigned Manager, requires further clarification to reflect the scope and nature of such role;

WHEREAS the Parties recognize that the Agreement treats all Events of Default uniformly and does not differentiate cure periods or consequences based on the nature or severity of the underlying breach, and the Parties wish to establish a proportionate default classification framework that preserves Energea's full enforcement rights while providing structured cure opportunities for operational and administrative defaults;

WHEREAS the Parties agree to implement binding minimum technical requirements for all equipment deployed in Projects to ensure quality, performance, and compliance with Energea's technical standards;

WHEREAS the Parties wish to provide for an automatic adjustment to the amortization structure of future Advances in the event of a sovereign credit downgrade of the Republic of Colombia, in order to mitigate increased country risk;

WHEREAS the Parties wish to amend the voluntary prepayment provisions of the Agreement to permit prepayment at any time without premium, penalty, lockout period, or minimum or maximum holding period;

WHEREAS the Parties wish to establish differentiated response periods for Advance Requests and to confirm that the Right of First Refusal under Section 5.2.12 of the Agreement constitutes the contractual remedy in the event Energea declines or delays an Advance, with any resulting third-party financing subordinated to the obligations under this Agreement;

WHEREAS the Parties wish to establish a tiered dispute resolution mechanism that provides for local arbitration for disputes below USD 5,000,000 and ICC arbitration for disputes at or above USD 5,000,000, replacing the existing dispute resolution provisions of the Agreement;

WHEREAS the Parties wish to amend the definition of Material Adverse Effect to ensure comprehensive coverage of events that could materially affect the Parties' rights and obligations under this Agreement, and to establish a binding *amigable componedor* mechanism through the *Cámara de Comercio de Barranquilla* (Chamber of Commerce) for the determination of non-curable Material Adverse Effects;

WHEREAS the Parties wish to require that material suppliers and contractors execute subordination acknowledgments to protect the priority of Energea's secured claims and to limit aggregate exposure to unsubordinated trade obligations;

WHEREAS the Parties agree that Energea shall designate a local operational representative in Colombia to facilitate communications, banking coordination, and administrative matters under this Agreement;

WHEREAS, the Parties acknowledge that Helios has outstanding trade payables to vendors, contractors, and service providers that arose prior to the date of this Addendum and that are distinct from the corporate debt obligations addressed in Section 3.1.6, and the Parties wish to establish a structured paydown framework for such legacy obligations through project cash flows, with appropriate subordination and sequencing provisions;

NOW, THEREFORE, in consideration of the mutual covenants herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree to amend the Agreement as follows:

AMENDED CLAUSES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Amendment and Restatement of Section 1.45 - Operational Assigned Manager**

Section 1.45 of the Agreement is hereby amended and restated in its entirety as follows:

"1.45 <u>Operational Assigned Manager</u> means the individual designated to serve as the Chief Executive Officer (<u>CEO</u>) of Helios and its Subsidiaries, with full authority over governance and operational decision-making, including strategic, financial, and operational matters. The designation of the Operational Assigned Manager as CEO shall not, in and of itself, be construed as implying legal representation under Colombian Commercial Law or any other applicable regulations, unless otherwise expressly determined by Helios in accordance with its corporate governance structure.

The initial Operational Assigned Manager shall be Juan Pablo Ballestas Juliao. Within thirty (30) days following the execution of this Addendum, the Board of Directors of Helios shall formally ratify his designation in accordance with the corporate governance procedures of Helios. Helios shall also amend its bylaws within sixty (60) days of execution to formally codify this role and structure. Any subsequent replacement of the Operational Assigned Manager shall be subject to Energea's prior written approval.

Helios shall grant Mr. Ballestas a general and irrevocable power of attorney sufficient to enable him to execute, perform, and enforce all agreements, financial transactions, regulatory filings, and operational decisions necessary to fulfill Helios's obligations under the Agreement and related documents. Any revocation, limitation, or suspension of such power of attorney without the prior written consent of Energea shall constitute a material breach of this Agreement and may trigger an Event of Default under Section 6.1."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Amendment and Restatement of Section 1.49 - Projects

Section 1.49 of the Agreement is hereby amended and restated in its entirety as follows:

"1.49 <u>Projects</u> means all solar energy projects owned and/or operated by Helios or any of its Subsidiaries, including but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1.49.1 <u>Government Projects</u> means solar energy projects financed or subsidized by government programs or agencies, including renewable energy initiatives, microgrid systems, and other installations in Zonas No Interconectadas (ZNI) designated by government policy. These projects are subject to the terms, conditions, and oversight of the applicable Government Authorities and generate Government Payments as defined in this Agreement.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1.49.2 <u>Energea Projects</u> means solar energy projects developed, owned, or operated by Helios or its Subsidiaries that are financed, in whole or in part, through this Agreement.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1.49.3 <u>Commercial and Distributed Projects</u> means any solar energy project developed, owned, or operated by Helios or its Subsidiaries under models permitted by Colombian electricity law and regulation, including but not limited to:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) self-generation projects in the commercial and industrial (<u>C&I</u>**)** sectors; (b) virtual self-generation (autogeneración virtual); (c) solar farms (granjas solares); and (d) any other renewable energy activity approved in writing by Energea.

For the avoidance of doubt, all Commercial and Distributed Projects are subject to the Perimeter Covenant set forth in Section 5.2.13, including without limitation the requirements for Energea's prior written consent, security, cash sweep, reporting, and permitted SPV structure. No Commercial or Distributed Project may be originated, developed, invested in, or operated except in full compliance with Section 5.2.13. Any Commercial or Distributed Project that is not in compliance with Section 5.2.13 at the time of origination or at any time thereafter shall constitute a breach of this Agreement."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Amendment and Restatement of Section 1.66 - Trustee

Section 1.66 of the Agreement is hereby amended and restated in its entirety as follows:

"1.66 <u>Trustee</u> means any fiduciary entity duly authorized to operate in Colombia under applicable financial and fiduciary regulations, which shall be appointed by Helios and approved in writing by Energea. The Trustee shall be responsible for the independent administration, custody, investment, and disbursement of the Trust's funds and assets in accordance with the terms of the Trust Agreement and all applicable laws.

The Trustee shall act solely in its fiduciary capacity and shall not be deemed an agent or representative of either Party under this Agreement. Once appointed, the Trustee may only be replaced with Energea's prior written consent.

For the avoidance of doubt, while the Trust Agreement has not yet been executed, its implementation remains a binding obligation of Helios and shall be completed as a post-closing requirement. The Agreement and this Addendum shall remain fully effective notwithstanding the current absence of the Trust. During the Interim Period (as defined in Section 9.1), all cash management shall be governed by the Controlled Accounts and Interim Waterfall provisions set forth in Section 9."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Insertion of Section 1.73 - Definition of Indebtedness

A new Section 1.73 is hereby inserted into the Agreement as follows:

"1.73 <u>Indebtedness</u> means any and all obligations of Helios or its Subsidiaries, whether direct or indirect, current or contingent, secured or unsecured, that: (i) arise from financial or corporate borrowings, including but not limited to loans, lines of credit, promissory notes, debentures, or other debt instruments; (ii) result from obligations to suppliers under deferred payment terms, commercial or operational agreements, or project-related accounts payable; (iii) derive from any leasing, factoring, or similar financial arrangement; or (iv) generate, accrue, or are otherwise subject to the payment of interest or other financial charges. For the avoidance of doubt, Indebtedness shall include all obligations that have a financial repayment component, whether classified as financial debt, commercial liabilities, or quasi-debt instruments."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Amendment and Restatement of Section 3.1.6 - Termination of Existing Indebtedness

Section 3.1.6 of the Agreement is hereby amended and restated in its entirety as follows:

"3.1.6 Termination or Subordination of Existing Indebtedness. The termination or full subordination of all existing indebtedness of Helios and its Subsidiaries, as listed in Schedule 4 - Corporate Debt, to the Obligations under this Agreement shall be a Condition Precedent to the effectiveness of this Agreement and to any Advance. Such repayment may be made using the proceeds of the First Working Capital Advance, provided that

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) all payments to corporate debt creditors listed on Schedule 4 - Corporate Debt shall be made directly from the Revenue Controlled Account (or, following the Trust Effective Date, the applicable Trust account) to the creditor, and Helios shall not receive, hold, or intermediate such funds;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Helios delivers payoff instructions, lien release documentation, and proof of payment (including bank transfer confirmation and creditor acknowledgment of receipt) to Energea within five (5) Business Days of each disbursement;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) any Advance used for payoff purposes shall be conditioned on Energea receiving satisfactory lien releases and/or subordination agreements prior to or concurrently with disbursement; and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Helios shall include in each Monthly Report delivered under Section 5.2.1(c) the outstanding balance of remaining Corporate Debt, payments made during the reporting period (with proof of payment), and expected extinguishment timeline, until all Corporate Debt is fully extinguished."*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Amendment and Restatement of Section 3.1.10 - Corporate Governance Adjustments

Section 3.1.10 of the Agreement is hereby amended and restated in its entirety as follows:

"3.1.10 Corporate Governance Adjustments. Helios shall implement the necessary corporate governance adjustments to ensure full compliance with this Agreement. Such adjustments may be effected through amendments to its bylaws, corporate charter, or other governing instruments, or through resolutions adopted by its Board of Directors or Shareholders' Assembly, as applicable, provided that the following conditions are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) The Operational Assigned Manager shall oversee governance and decision-making exclusively for Helios. The designation of the Operational Assigned Manager as CEO and the granting of full authority over strategic, financial, and operational matters shall not require amendments to Helios's bylaws or corporate charter, but shall be subject to formal ratification by the Board of Directors within thirty (30) days of the date of this Addendum. Helios shall amend its bylaws within sixty (60) days thereafter to formally codify the governance structure.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) The Board of Directors of Helios shall be authorized to make decisions related to the performance of this Agreement and any Loan Document, including the use of Advances, financial administration, and implementation of project-related obligations, subject to the affirmative vote of the Operational Assigned Manager.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) The Shareholders' Assembly of Helios shall be restricted from modifying the bylaws, reversing corporate actions related to this Agreement, or taking any action that would materially affect Energea's rights or security interests, without the affirmative vote of the Operational Assigned Manager and Energea's prior written consent.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Any additional governance measures required to preserve the enforceability of this Agreement or safeguard Energea's collateral rights shall be promptly adopted by Helios upon Energea's reasonable request."*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Amendment and Restatement of Section 5.2.4(c) - Management of Subsidiaries

Section 5.2.4(c) of the Agreement is hereby amended and restated in its entirety as follows:

"5.2.4(c) Management of Subsidiaries. Helios shall ensure that all newly formed or acquired Subsidiaries are duly incorporated and registered in accordance with applicable Colombian law, including timely registration with the relevant Chamber of Commerce. Such Subsidiaries shall be managed directly by Helios in accordance with the governance and reporting obligations set forth in this Agreement.

Ownership or control of all newly formed or acquired Subsidiaries shall be transferred or pledged to the Trust in accordance with Section 4, unless otherwise approved in writing by Energea. Any Subsidiary allowed to remain outside the Trust perimeter shall nevertheless be subject to: (i) equity pledge in favor of Energea; (ii) controlled account treatment for all accounts; (iii) the same waterfall and sweep mechanics applicable to Helios; and (iv) reporting requirements equivalent to those of Helios under Section 5.2.1.

For the avoidance of doubt, this clause shall not be construed as a waiver of Energea's collateral rights over project-level cash flows, receivables, or other assets contractually linked to any Advance under this Agreement."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Amendment and Restatement of Section 5.4.3 - Reserve Requirement (DSRA)

Section 5.4.3 of the Agreement is hereby amended and restated in its entirety as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4.3 Debt Service Reserve Account (DSRA).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) DSRA Requirement. Helios shall maintain an aggregate balance in the DSRA (as defined below) equal to six (6) times the Projected Scheduled Debt Service (the "<u>DSRA Requirement</u>"); provided that:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) "<u>Projected Scheduled Debt Service</u>" means, for any date of determination, the aggregate amount of principal and interest payments that would be due under all outstanding Advances during the calendar month immediately following such date, calculated on the basis of the then-outstanding principal balance of all Advances, including any Advance for which an Advance Request has been submitted but not yet disbursed;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii) if the DSRA has been drawn upon more than twice in any twelve (12)-month period, the DSRA Requirement shall automatically increase to eight (8) times the Projected Scheduled Debt Service (a "<u>Reserve Step-Up</u>"), and*

such Reserve Step-Up shall remain in effect until Helios has maintained the DSRA at or above the stepped-up DSRA Requirement for six (6) consecutive months without any draw; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iii) the DSRA Requirement shall be recalculated as of (A) the date of each Advance Request, (B) each date on which a Government Payment is received into the Revenue Controlled Account, and (C) the first Business Day of each calendar month.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) DSRA Control. The DSRA shall be held in: (i) during the Interim Period, the Interim Reserve Account (as defined in Section 9.1(j)), subject to the Controlled Account provisions set forth in Section 9; or (ii) following the Trust Effective Date, the Trust-administered reserve account designated by the Trustee (in either case, the "<u>DSRA</u>"). No withdrawals from the DSRA shall be permitted except: (A) to satisfy Scheduled Debt Service when other available funds in the Revenue Controlled Account are insufficient to satisfy such obligations on the applicable payment date (a "<u>Permitted</u> <u>DSRA Draw</u>"); or (B) upon the release of excess funds above the DSRA Requirement following full replenishment, and only with Energea's prior written consent.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Permitted Use as Cash-Flow Smoother. The Parties acknowledge that Government Payments are received on an irregular or periodic basis and that monthly debt service obligations will routinely exceed available Revenue Controlled Account balances in months during which no Government Payment is received. Accordingly, Permitted DSRA Draws to bridge the timing mismatch between Government Payment receipts and monthly Scheduled Debt Service shall constitute normal operating use of the DSRA and shall not, in and of themselves, constitute a Default or Event of Default, provided that Helios complies with the replenishment obligations set forth in paragraph (f) below.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Initial Funding. The Initial Reserve Deposit shall be funded directly from the proceeds of the First Advance by deposit into the Interim Reserve Account (or, if the Trust is then effective, the Trust-administered reserve account) on the date of the First Advance disbursement. The Initial Reserve Deposit shall be equal to the DSRA Requirement calculated as of the date of the First Advance. Such funding shall be a Condition Precedent to any subsequent Advance. For the avoidance of doubt, Helios shall not be required to fund the Initial Reserve Deposit from sources other than the First Advance proceeds.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e) Incremental Funding on New Advances (Gross-Up). Each Advance subsequent to the First Advance shall include an amount sufficient to fund the incremental increase in the DSRA Requirement resulting from the additional Scheduled Debt Service attributable to such Advance (the "<u>DSRA Gross-Up Amount</u>"). The DSRA Gross-Up Amount shall be calculated as: (i) the DSRA Requirement recalculated to include the Projected Scheduled Debt Service attributable to the requested Advance; minus (ii) the actual DSRA balance as of the date of the Advance Request. The DSRA Gross-Up Amount shall be deposited directly into the DSRA from the Advance proceeds on the date of disbursement. No Advance shall be disbursed unless the DSRA Gross-Up Amount has been included in the Advance amount and the DSRA Adequacy Certification under paragraph (k) has been delivered.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(f) Replenishment Obligation. If the DSRA balance falls below the DSRA Requirement following one or more Permitted DSRA Draws (a "<u>DSRA Shortfall</u>"), Helios shall replenish the DSRA to the full DSRA Requirement as follows: (i) Primary Source: Waterfall. Upon receipt of a Government Payment into the Revenue Controlled Account, Helios shall apply funds to replenish the DSRA in accordance with the priority set forth in Section 9.4(c) (or, following the Trust Effective Date, the equivalent Trust waterfall tier). Replenishment shall be completed within five (5) Business Days of receipt of such Government Payment. (ii) Backstop Source: Corporate Funds. If, following application of the Government Payment through the waterfall, the DSRA balance remains below the DSRA Requirement, Helios shall fund the remaining shortfall from its own corporate funds or any other source available to it, within ten (10) Business Days of receipt of such Government Payment. (iii) Failure to replenish the DSRA to the full DSRA Requirement within the timeframes set forth in sub-paragraphs (i) and (ii) above following receipt of a Government Payment shall constitute an Event of Default, classified as a Category 2 Short-Cure Default under Section 6.1A(b)(i).*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(g) Notification Floor. If the DSRA balance falls below two (2) times the Projected Scheduled Debt Service at any time (the "<u>DSRA Floor</u>"): (i) Helios shall notify Energea in writing within two (2) Business Days of becoming aware that the DSRA balance has fallen below the DSRA Floor; (ii) no Advance Request may be submitted, and no Advance shall be disbursed, until the DSRA balance has been restored to at least the DSRA Requirement; and (iii) Energea may, in its sole discretion, require Helios to deposit all available cash in excess of approved operating expenses into the DSRA until the DSRA balance is restored to the DSRA Requirement. For the avoidance of doubt, a breach of the DSRA Floor shall not, in and of itself, constitute an Event of Default, provided that Helios complies with the notification and replenishment obligations set forth in this Section 5.4.3.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(h) Replenishment via Advance. Energea may, in its sole discretion, include in any Advance an amount designated for DSRA replenishment (a "<u>DSRA Replenishment Advance</u>"). The proceeds of any DSRA Replenishment Advance shall be deposited directly into the DSRA and shall not pass through any account controlled by Helios. For the avoidance of doubt: (i) Helios shall have no right to request or demand a DSRA Replenishment Advance; (ii) Energea's decision not to include a DSRA Replenishment Advance shall not constitute a waiver of any right or remedy, including the right to*

declare an Event of Default for failure to replenish under paragraph (f); and (iii) a DSRA Replenishment Advance shall be treated as an Advance for all purposes under this Agreement, including the accrual of interest and the application of amortization schedules. (i) Checkpoint Compliance. The DSRA balance shall be tested for compliance with the DSRA Requirement at the following checkpoints: (i) on the closing date of each Advance (after giving effect to the Initial Reserve Deposit or DSRA Gross-Up Amount, as applicable); (ii) on the fifth (5th) Business Day following receipt of each Government Payment into the Revenue Controlled Account (after giving effect to waterfall application and any corporate funds replenishment under paragraph (f)); and (iii) on the first Business Day of each calendar month, for reporting purposes under paragraph (j). Compliance with the DSRA Requirement is mandatory at the checkpoints described in sub-paragraphs (i) and (ii) above. The checkpoint described in sub-paragraph (iii) is for monitoring and reporting purposes only and shall not independently trigger an Event of Default. (j) Monitoring and Notification. Energea (or the Trustee, once appointed) shall monitor the DSRA balance. Helios shall include in its Monthly Report the following: (A) the DSRA Requirement calculation (including the Projected Scheduled Debt Service and the applicable multiplier); (B) actual DSRA balance as of the reporting date; (C) any Permitted DSRA Draws during the reporting period, specifying date and amount; (D) replenishment actions taken, specifying source (waterfall, corporate funds, or DSRA Replenishment Advance) and amount; (E) DSRA Floor status; and (F) DSRA Requirement compliance at each applicable checkpoint during the reporting period. (k) DSRA Adequacy Certification. Each Advance Request submitted under this Agreement shall include a certification by Helios (the "<u>DSRA Adequacy Certification</u>") setting forth: (A) the current DSRA balance; (B) the Projected Scheduled Debt Service as recalculated to include the requested Advance; (C) the DSRA Requirement after giving effect to the requested Advance; (D) the DSRA Gross-Up Amount required; and (E) confirmation that, upon disbursement, the DSRA balance will equal or exceed the DSRA Requirement. No Advance shall be disbursed if the DSRA Adequacy Certification discloses a projected DSRA Shortfall that would not be fully cured by the DSRA Gross-Up Amount included in the Advance. (l) Interim Reserve Account Mechanics. During the Interim Period: (i) the Interim Reserve Account shall be subject to maker-checker controls under Section

9.3; (ii) no withdrawals shall be permitted without Energea's prior written approval, except for Permitted DSRA Draws under paragraph (b)(A); (iii) Helios shall deliver to Energea monthly statements for the Interim Reserve Account; and

*(i) the Interim Reserve Account shall be identified on Schedule 11 together with the Revenue Controlled Account. (m) Transition to Trust. Upon the Trust Effective Date, all funds in the Interim Reserve Account shall be transferred to the Trust-administered reserve account within five (5) Business Days, with evidence of transfer provided to Energea. From the Trust Effective Date, the Trustee shall administer the DSRA in accordance with the Trust Agreement, subject to the DSRA Requirement, replenishment obligations, and checkpoint compliance requirements set forth in this Section 5.4.3."*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Insertion of Section 9 - Interim Period Provisions and Controlled Accounts

A new Section 9 is hereby inserted into the Agreement as follows:

"9. INTERIM PERIOD PROVISIONS AND CONTROLLED ACCOUNTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9.1 Definitions.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) "<u>Interim Period</u>" means the period commencing on the date of this Addendum and ending on the Trust Effective Date.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) "<u>Trust Effective Date</u>" means the date on which (i) the Trust Agreement has been executed by all parties, (ii) the Trustee has been appointed and has accepted its duties, and (iii) all Controlled Account balances and control mechanisms have been transitioned to the Trust structure.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) "<u>Controlled Account</u>" means any account subject to the maker-checker or dual-authorization controls set forth in this Section 9, including the Revenue Controlled Account, the Interim Reserve Account (or, following the Trust Effective Date, the Trust-administered reserve account holding the DSRA), and any Operating Controlled Account.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) "<u>Revenue Controlled Account</u>" means the existing Government Disbursement Account, or any successor account approved in writing by Energea, into which all Government Payments, Subscriber Payments, and other project cash proceeds are deposited.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e) "<u>Release Notice</u>" means a written notice issued by Energea to Helios confirming that all Obligations under the Agreement and the Loan Documents have been satisfied in full, all security interests have been released, and no further amounts remain outstanding or contingent. Upon issuance of the Release Notice, the Controlled Account structure, the Banking Attorney Resolution, and all Supplier Subordination Acknowledgments shall terminate in accordance with their respective terms.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(f) "<u>Approved Budget</u>" means the annual operating and capital expenditure budget submitted by Helios to Energea within thirty (30) days of the beginning of each fiscal year. Energea may object to specific line items within fifteen (15) Business Days of receipt, in which case the Parties shall negotiate in good faith to resolve any objections; until such time as objections are resolved, the prior period budget shall continue to apply to disputed items. Capital expenditures*

exceeding USD 250,000 individually (or USD 500,000 in the aggregate per fiscal year) that are not included in the then-current Approved Budget shall require Energea's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(g) "<u>Waterfall-Compliant</u>" means, with respect to any payment instruction, that such instruction (i) is consistent with the priority order set forth in the Interim Waterfall (Section 9.4) or, following the Trust Effective Date, the Trust waterfall; and (ii) does not exceed the aggregate amounts reasonably consistent with the then-current Approved Budget for the applicable expenditure category.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(h) "<u>Scheduled Debt Service</u>" means, for any calendar month, the aggregate amount of principal and interest payments due under all outstanding Advances during such month, as set forth in the applicable amortization schedules delivered under Section 2.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) "<u>Initial Reserve Deposit</u>" means the amount required to fund the DSRA to the DSRA Requirement as of the date of the First Advance, calculated in accordance with Section 5.4.3(a), to be funded directly from the proceeds of the First Advance in accordance with Section 5.4.3(d).*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(j) "<u>Interim Reserve Account</u>" means a segregated bank account at a bank approved in writing by Energea, designated for the purpose of holding DSRA funds during the Interim Period, subject to the Controlled Account provisions set forth in this Section 9.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9.2 Controlled Accounts Structure.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Designation. The existing Government Disbursement Account is hereby designated as the Revenue Controlled Account. Helios shall identify such account on Schedule 11 (bank name, account number, currency) within five (5) Business Days of execution of this Addendum.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Sole Deposit Account Covenant. Helios covenants that the Revenue Controlled Account shall be the sole deposit account for: (i) Government Payments; (ii) Subscriber Payments; and (iii) any other project cash proceeds or collateral proceeds designated in the Loan Documents. Helios shall not open, maintain, or use any other account to receive such collections without Energea's prior written consent.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Prohibition on Changes. Helios shall not (i) change the government disbursement instructions directing payments to the Revenue Controlled Account, (ii) change the receiving bank or account, or (iii) close, merge, or alter the Revenue Controlled Account, in each case without Energea's prior written consent.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9.3 Account Control Mechanisms.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Maker-Checker Controls. Within fifteen (15) Business Days of execution of this Addendum, Helios shall implement maker-checker (dual authorization) controls on all Controlled Accounts, such that any outbound transfer or payment requires approval from both (i) a Helios-designated officer and (ii) an Energea-designated representative or an automated approval system configured per Energea's instructions.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Bank Acknowledgement. Helios shall deliver to Energea a written acknowledgement from each Controlled Account bank confirming: (i) the maker-checker control structure; (ii) that the bank will not honor payment instructions that do not comply with such controls; and (iii) that the bank will provide Energea with read-only electronic access to account statements and transaction history.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Banking Special Attorney (Apoderado Especial Bancario). Within fifteen (15) Business Days of execution of this Addendum, Helios shall cause its shareholders or Board of Directors (as applicable under its bylaws) to adopt a resolution substantially in the form of Exhibit D (the "<u>Banking Attorney Resolution</u>"), appointing a Banking Special Attorney (Apoderado Especial Bancario) designated by Energea, subject to the following:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) Scope of Authority. The Banking Special Attorney shall serve as checker within the maker-checker scheme established under paragraph (a) solely with respect to the Revenue Controlled Account and the Interim Reserve Account (or, following the Trust Effective Date, the Trust-administered reserve account holding the DSRA), collectively, the "<u>Controlled Revenue Accounts</u>". The Banking Special Attorney shall have no authority over Helios's operating accounts or any account into which funds have been released in accordance with the Interim Waterfall. For the avoidance of doubt, Helios retains full autonomy over any account funded by releases under paragraphs 9.4(d), (e), and (f) of the Interim Waterfall.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii) Permitted Banking Operations. Within the Controlled Revenue Accounts, the Banking Special Attorney's authority shall be limited to: approving payments, transfers, and debits prepared by Helios's Treasury in accordance with the Interim Waterfall; authorizing changes to signatories, beneficiaries, and e-banking profiles and limits on the Controlled Revenue Accounts; issuing operational instructions to account banks for waterfall execution; and signing banking forms, KYC/AML documentation, and account maintenance documents related to the Controlled Revenue Accounts.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iii) Exclusions. The Banking Special Attorney shall have no authority for: general legal representation of Helios; contracting with third parties; labor matters; disposing of assets other than permitted waterfall movements; judicial representation; or modifying the Agreement, the Interim Waterfall, or any Controlled Account Agreement.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iv) Irrevocability. The Banking Attorney Resolution shall be irrevocable while any Obligations remain outstanding under the Loan Documents. The Banking Special Attorney may not be removed, replaced, or have its powers limited or delegated without Energea's prior written consent. If the Banking Special Attorney dies, becomes permanently incapacitated, resigns, or is otherwise unable to perform its duties (a "<u>Checker Vacancy Event</u>"), Energea shall notify Helios in writing within two (2) Business Days of becoming aware of such event and shall designate a replacement within five (5) Business Days thereof. If the Banking Special Attorney fails to respond to two (2) consecutive payment instructions submitted by Helios within the applicable timeframes under Section 9.3(d)(i) without explanation, a Checker Vacancy Event shall be deemed to have occurred on the second Business Day following the second unanswered instruction, and Energea shall designate a replacement within five (5) Business Days of such deemed occurrence. Helios shall cause its shareholders or Board of Directors to adopt a supplemental resolution appointing the replacement and shall complete Registro Mercantil (Commercial Registry) registration within ten (10) Business Days thereof. During any period between a Checker Vacancy Event and the effective appointment of a replacement Banking Special Attorney (the "<u>Vacancy Gap Period</u>"), the override mechanism set forth in Section 9.3(d)(iii) shall be available to Helios upon delivery of a single written notice to Energea with one (1) Business Day for Energea to respond, in lieu of the standard escalation timeframes under Section 9.3(d)(i) and (ii). Failure by Energea to designate a replacement, or failure to complete the appointment and registration, within the specified timeframes shall constitute a Category 2 Short-Cure Default under Section*

6.1A(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(v) Registration. Helios shall cause the Banking Attorney Resolution to be (A) elevated to public document; (B) registered at the Registro Mercantil of the competent Cámara de Comercio; and (C) if required by any account bank, notarized and apostilled.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(vi) Bank Instruction Letters. Within ten (10) Business Days of registration, Helios shall deliver to each bank holding a Controlled Revenue Account a Carta de Instrucciones instructing the bank to recognize the Banking Special Attorney as checker, block any transaction on the Controlled Revenue Accounts that does not carry the checker's approval, and reject instructions from any Helios officer or employee that bypass the maker-checker flow on such accounts.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(vii) SPV Revenue Accounts. If any Subsidiary or Permitted SPV maintains a revenue account that receives project cash proceeds, such account shall either (A) sweep all proceeds into the Revenue Controlled Account within five*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Business Days of receipt, or (B) be designated as an additional Controlled Revenue Account subject to the same maker-checker controls and Banking Special Attorney authority under this Section 9.3(c).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Checker Response Obligation.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) Response Timeframe. The Banking Special Attorney shall approve or reject any payment instruction submitted by the treasury of Helios or of any Subsidiary with a Controlled Revenue Account in accordance with the Interim Waterfall within three (3) Business Days of receipt of a complete payment instruction package.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii) Checker Failure Notice. If the Banking Special Attorney fails to approve or reject a waterfall-compliant payment instruction within the three (3) Business Day period, Helios may deliver a written notice to Energea (a "<u>Checker Failure Notice</u>") identifying the payment instruction and attaching evidence of submission to the Banking Special Attorney. Energea shall have three (3) Business Days from receipt of the Checker Failure Notice to cause the Banking Special Attorney to act or to otherwise authorize the payment.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iii) Override Mechanism. If Energea fails to cure within the three (3) Business Day period following receipt of the Checker Failure Notice, Helios may instruct the account bank to process the identified payment instruction. The Carta de Instrucciones delivered under Section 9.3(c)(vi) shall include a provision requiring the bank to honor such instruction upon presentation of: (A) the original payment instruction; (B) copy of the Checker Failure Notice with evidence of delivery; and (C) a certificate executed by the Operational Assigned Manager of Helios certifying that the payment is consistent with the Interim Waterfall priority order (Sections 9.4(a) through 9.4(d)) and the approved budget. This override mechanism shall not apply to payments under Section 9.4(e) (capital expenditures) or Section 9.4(f) (general corporate releases), which require affirmative Energea approval in all cases.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iv) Reporting and Abuse Deterrent. Helios shall notify Energea in writing of any payment processed under the override mechanism: (A) within one (1) Business Day of execution for any payment equal to or exceeding USD 100,000; and (B) in the next Monthly Report delivered under Section 5.2.1(c) for payments below USD 100,000. If Helios uses the override mechanism for any payment that is not in fact consistent with the Interim Waterfall or the approved budget, such use shall constitute a Category 1 Event of Default under Section 6.1A(a).*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(v) Non-Interference Covenant. The Banking Special Attorney shall exercise its authority solely as a control function in accordance with this Section 9.3 and shall not unreasonably withhold, delay, or condition approval of payment instructions that are consistent with the Interim Waterfall and the approved budget. The checker function shall not be used to interfere with, obstruct, or diminish Helios's day-to-day operational autonomy over matters outside the scope of the Controlled Revenue Accounts.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9.4 Interim Waterfall.*

During the Interim Period, all funds deposited into the Revenue Controlled Account shall be applied in the following order of priority (the "<u>Interim Waterfall</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) First, to pay any taxes or statutory payments when due;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Second, to pay scheduled principal and interest on all Advances;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Third, to fund or replenish the DSRA to the DSRA Requirement;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Fourth, to pay approved operating expenses included in the approved budget;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e) Fifth, to pay approved capital expenditures, if any;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(f) Sixth, any remaining amounts may be released to Helios for general corporate purposes, provided that (i) no Default or Event of Default exists; (ii) Helios is in compliance with all financial covenants; and (iii) Energea has provided prior written approval.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9.5 Default Triggers.*

The following shall each constitute an Event of Default under Section 6.1:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Opening or using any additional collections accounts without Energea's prior written consent;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Diverting collections away from the Revenue Controlled Account;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Changing government disbursement instructions or changing the bank/account without Energea's consent;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Failing to execute or maintain controlled account documentation or maker-checker controls as required; or*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e) Making payments outside the Interim Waterfall priority without Energea's prior written consent; provided that a payment processed through the override mechanism set forth in Section 9.3(d)(iii) in compliance with the conditions therein shall not constitute a violation of this paragraph (e).*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9.6 Transition to Trust.*

Upon the Trust Effective Date,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) the Controlled Account structure shall migrate to the Trust structure as specified in the Trust Agreement;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) the Interim Waterfall shall be superseded by the waterfall specified in the Trust Agreement; and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) this Section 9 shall govern any inconsistency between the Trust Agreement and this Section 9 until expressly amended. Notwithstanding the foregoing,*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) the Banking Attorney Resolution under Section 9.3(c) shall not be terminated upon the Trust Effective Date and shall remain registered at the Registro Mercantil in dormant status; and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e) if at any time while Obligations remain outstanding under the Loan Documents the Trust ceases to function, the Trustee resigns, is removed, loses its authorization, or ceases to exist, or the Trust Agreement is terminated for any reason, all provisions of this Section 9 shall automatically reactivate in their entirety without further action by the Parties, and Helios shall re-designate all relevant revenue and reserve accounts as Controlled Revenue Accounts within five (5) Business Days of such event. For the avoidance of doubt, all controls under this Section 9 shall terminate upon the full and final satisfaction of all Obligations under the Loan Documents."*

10. Insertion of Section 5.2.13 - Perimeter Covenant (Anti-Leakage)

A new Section 5.2.13 is hereby inserted into the Agreement as follows:

"5.2.13 Perimeter Covenant (Anti-Leakage).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Umbrella Requirement. Helios shall remain the contracting and cash-receiving entity (or the parent controlling contracting SPVs) for all current and future solar-related businesses and expansion initiatives, including distributed generation, comunidades energéticas (energy communities), C&I behind-the-meter projects, and similar models using the same platform, interconnections, or customer base.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Permitted SPV Structure. Projects may be housed in SPVs only if: (i) Helios owns or controls such SPVs; (ii) the same security, cash sweep, and controlled account structure applies; (iii) Energea's reporting and step-in rights extend to such SPVs; and (iv) Energea has provided prior written consent.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Negative Covenants. Helios shall not, without Energea's prior written consent: (i) form any new entity; (ii) transfer any material contract, receivable, or asset outside the secured perimeter; (iii) incur any new senior debt or permit any Lien (other than Permitted Liens); (iv) dispose of any material asset; or (v) pay, charge, or permit to be charged any management fee, service fee, license fee, royalty, or similar payment from any Project entity or SPV to Helios, any Related Party, or any Affiliate, except through the controlled waterfall and within the annual budget approved by Energea; or (vi) change its corporate form (tipo societario), merge, consolidate, or otherwise undergo any corporate reorganization or transformation that would alter the legal nature, registration, or class of the equity interests subject to the Equity Pledge Agreement, without Energea's prior written consent and, if such consent is granted, Helios shall procure the re-execution of the Equity Pledge Agreement by all relevant pledgors and Energea within fifteen (15) Business Days of the effective date of such change, at Helios's sole cost.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Quarterly Pipeline Report. Helios shall include as an appendix to each Quarterly Financial Certificate delivered under Section 5.2.1(b) a report listing all new projects, SPVs, expansions, and development initiatives, including status, projected COD, expected revenues, and the account(s) into which revenues will be deposited.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e) Breach and Cure. Any breach of this Section 5.2.13 shall be subject to a fifteen (15) Business Day cure period, during which Helios must unwind the non-compliant transaction or bring the relevant entity/asset into the secured perimeter. Failure to cure shall constitute an Event of Default."*

11. Insertion of Section 4.9 - Fair Enforcement of Equity Pledge

A new Section 4.9 is hereby inserted into the Agreement as follows:

"4.9 Fair Enforcement of Security Interests. For the purposes of this Section 4.9, all security interests under the Loan Documents other than the Equity Pledge Agreement (Section 4.2), including the First Priority Lien (Section 4.1), the Asset Pledge Agreement (Section 4.3), the Assignment of Accounts Receivable (Section 4.4), and the Secured Promissory Note (Section 4.8), shall constitute "<u>First-Tier Security Interests</u>." The Equity Pledge Agreement shall constitute a "<u>Second-Tier</u> <u>Security Interest</u>." The following provisions shall govern the enforcement of all security interests under the Loan Documents, including cash sweeps, DSRA enforcement, payment acceleration, and enforcement of First-Tier and Second-Tier Security Interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Enforcement Amount Cap. The aggregate amount recoverable by Energea through enforcement of all security interests under the Loan Documents shall be limited to the "<u>Enforcement Amount</u>," defined as: (i) all outstanding principal of the Advances; plus (ii) all accrued and unpaid interest; plus (iii) documented enforcement costs not to exceed USD 500,000. Penalties, consequential damages, and speculative losses shall not be included. Notwithstanding the foregoing, the Enforcement Amount Cap shall not apply to recovery arising from fraud, willful misconduct, or intentional diversion of collateral by Helios, in which case Energea's recovery shall be unlimited.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Independent Valuation. Prior to any appropriation or sale of pledged equity, Energea shall engage an independent, reputable valuation firm to determine the fair market value of the equity interests using market-standard methodologies, including discounted cash flow analysis and comparable company/transaction multiples. The discount rate, assumptions, and methodology shall be determined by the valuation firm in accordance with prevailing industry practice.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Disposition Process. Energea shall conduct the disposition of pledged equity through a commercially reasonable sale process, which may include public auction, private sale, or competitive bidding. Direct appropriation (dación en pago) shall require the pledgor's express written consent at the time of enforcement, except where permitted by applicable law without such consent.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Surplus Return. If the value realized from the disposition of pledged equity exceeds the Enforcement Amount, Energea shall return such surplus to the pledgor within thirty (30) days of receipt of the net sale proceeds, together with a calculation of the Enforcement Amount and surplus.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e) Third-Party Verification. Prior to enforcement of the Equity Pledge, Energea shall submit the matter to an amigable componedor (friendly arbiter) appointed through the Cámara de Comercio de Barranquilla for a time-bound certification (not to exceed fifteen (15) Business Days) of: (i) the occurrence of a payment Default based on objective, documentary evidence; and (ii) where Energea asserts a non-curable Material Adverse Effect, certification of such assertion in accordance with Section 6.1A(a)(xiv). This verification shall not (A) constitute a condition precedent to enforcement of any other remedy, (B) create a standstill on cash-control or payment remedies, or (C) bar Energea from taking parallel preparatory steps for enforcement.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(f) Sequencing of Enforcement. Energea shall first pursue enforcement through the First-Tier Security Interests before enforcing the Second-Tier Security Interest. The Equity Pledge shall only be enforced after enforcement proceedings under the Asset Pledge Agreement (Section 4.3) and the Secured Promissory Note (Section 4.8), both of which carry mérito ejecutivo (executive merit, i.e., immediate enforceability as a título ejecutivo under Colombian procedural law) under Colombian law, have been terminated. For the purposes of this Section 4.9(f), "terminated" means the earlier of:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) a mandamiento de pago (judicial payment order) has been issued and the statutory term for excepciones de mérito (defenses on the merits) has expired or been resolved with respect to each of the Asset Pledge Agreement and the Secured Promissory Note; or (B) twenty (20) Business Days have elapsed since the filing of enforcement proceedings under both the Asset Pledge Agreement and the Secured Promissory Note. For the avoidance of doubt, this sequencing requirement shall not prevent Energea from taking preparatory steps (including filing, registration, or notification) with respect to the Equity Pledge while enforcement of other security interests is pending."

12. Amendment and Restatement of Section 5.2.1(c) - Monthly Reports

Section 5.2.1(c) of the Agreement is hereby amended and restated in its entirety as follows:

"5.2.1(c) Monthly Reports. Within fifteen (15) days after the end of each calendar month, Helios shall deliver to Energea a Monthly Report containing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) Bank statements for all Controlled Accounts;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii) Evidence of Interim Waterfall application (or Trust waterfall, post-Trust Effective Date);*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iii) DSRA Requirement calculation (including the prior month's Scheduled Debt Service), actual DSRA balance, draws during the reporting period (if any), replenishment status, and remaining replenishment timeline (if applicable);*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iv) Government subsidy receivables aging report, including evidence of submission/validation and expected payment timing;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(v) DSCR and DSCCR calculations with supporting detail;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(vi) Summary of all related-party transactions (including executive compensation), specifying counterparty, amount, purpose, and account used;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(vii) Any material developments, including new projects, SPVs, defaults, or litigation; and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(viii) A register of all outstanding supplier, contractor, and service provider obligations exceeding USD 100,000 individually, specifying the counterparty, aggregate amount outstanding, aging, and whether a Subordination Acknowledgment (Schedule 6-A) has been executed."*

13. Amendment of Schedules 1 and 8

Schedules 1 and 8 of the Agreement are hereby amended and replaced in their entirety with the revised versions attached to this Addendum as Annex 1 and Annex 2, respectively. As of the date of this Addendum, all references to Schedules 1 and 8 in the Agreement shall be deemed to refer to the updated versions annexed hereto. These amended Schedules shall be considered an integral part of the Agreement and shall supersede in full the previous versions.

14. Insertion of Section 5.5 - Equipment Approval and MTR Compliance

A new Section 5.5 is hereby inserted into the Agreement as follows:

"5.5 Equipment Approval and Minimum Technical Requirements (MTRs).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Adopted MTR Standards. Helios acknowledges and agrees that Energea has issued a binding list of Minimum Technical Requirements ("<u>MTRs</u>") applicable to all Projects developed, owned, or operated by Helios or its Subsidiaries. These MTRs specify the only permitted equipment types, manufacturers, models, certifications, and performance standards authorized for use.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Mandatory Compliance. Helios shall ensure that all equipment installed in any Project-regardless of the source of funds-complies strictly with the MTRs. Any equipment not included in the MTR list shall be deemed non-compliant.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Request for Exception. If Helios wishes to use any equipment not listed in the approved MTRs, it must submit a formal written request to Energea including technical specifications, origin details, and justification. Energea may approve or reject such request in its sole discretion.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Condition Precedent. Use of any non-compliant equipment without prior written Energea approval shall constitute a Material Breach and may trigger an Event of Default. No EPC Advance shall be disbursed unless Energea has*

confirmed in writing that all equipment for the related Project is compliant with the current MTRs or has been expressly approved."

15. Insertion of Section 5.6 - Amortization Adjustment Trigger (Sovereign Downgrade)

A new Section 5.6 is hereby inserted into the Agreement as follows:

"5.6 Amortization Adjustment Trigger - Sovereign Downgrade.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Trigger Event. In the event that Moody's Investors Service downgrades the Republic of Colombia's long-term foreign currency issuer rating to Ba1 or lower, the amortization structure for all future Advances shall automatically adjust as set forth in subsection (b).*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Adjusted Structure. Any Advance disbursed following the downgrade shall be amortized as follows: (i) Seventy-five percent (75%) in U.S. Dollars at 15% fixed annual interest; and (ii) Twenty-five percent (25%) in Colombian Pesos at 18% fixed annual interest.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Preservation of Original Terms. All Advances disbursed prior to the downgrade shall remain subject to the amortization structure in effect at the time of their disbursement.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Confirmation Notice. Upon the downgrade, Energea shall issue a written notice to Helios confirming the effective date of the adjusted amortization structure."*

16. Insertion of Section 10 - Dispute Resolution

A new Section 10 is hereby inserted into the Agreement as follows:

"10. Dispute Resolution. Any dispute, controversy, or claim arising out of or relating to this Agreement, including its interpretation, performance, breach, or termination, shall be resolved as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) For disputes where the aggregate amount in controversy is less than USD 5,000,000, such dispute shall be submitted to binding arbitration administered by the Centro de Arbitraje y Conciliación de la Cámara de Comercio de Bogotá (Center for Arbitration and Conciliation), in accordance with its rules in effect at the time of the dispute. The place of arbitration shall be Bogotá, Colombia. The arbitral tribunal shall consist of a single arbitrator. The language of the arbitration shall be Spanish; provided that documentary evidence originally drafted in English may be submitted without translation.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) For disputes where the aggregate amount in controversy is equal to or greater than USD 5,000,000, such dispute shall be submitted to binding expedited arbitration administered by the International Chamber of Commerce (ICC), in accordance with its Expedited Arbitration Rules. The seat of arbitration shall be Bogotá, Colombia. The tribunal shall consist of a sole arbitrator unless otherwise agreed by the Parties. The arbitrator shall be fluent in English and possess significant legal experience with cross-border finance transactions or similar contracts. The language of the arbitration shall be English. Documents in Spanish shall be accompanied by certified English translations at the submitting party's expense.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) If the aggregate amount in controversy cannot be reasonably determined at the time the notice of arbitration is filed, or if a counterclaim or set-off causes the aggregate amount to equal or exceed USD 5,000,000, the dispute shall be submitted to or transferred to ICC arbitration under paragraph (b) above.*

For the avoidance of doubt, Section 10 as inserted by this Addendum shall supersede and replace Section 8.9 of the Agreement in its entirety. All other provisions of Section 8.9 not inconsistent with this Section 10, including confidentiality, enforcement of awards, jurisdiction for enforcement, and waiver of objections, are hereby incorporated by reference."

17. Amendment and Restatement of Section 1.41 - Material Adverse Effect

Section 1.41 of the Agreement is hereby amended and restated in its entirety as follows:

"1.41 Material Adverse Effect means, with respect to any Person or any matter, any event, circumstance, change, or effect that individually or in the aggregate has a material adverse effect on: (i) the business, financial condition, operations, performance, properties, or prospects of such Person; (ii) the ability of such Person to perform its obligations under the Loan Documents; (iii) the legality, validity, binding effect, or enforceability of any Loan Document or the rights and remedies of the Lender thereunder; or (iv) the value, enforceability, or priority of the Collateral or the Lender's security interests therein."

18. Insertion of Section 5.2.14 - Supplier Subordination

A new Section 5.2.14 is hereby inserted into the Agreement as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2.14 Supplier Subordination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) For any supplier, contractor, or service provider listed on Schedule 6 (Contracts and Obligations) or Schedule 2 (Approved EPC Contractors), or that is otherwise a counterparty to Helios or any Subsidiary, to whom Helios or any Subsidiary owes, or reasonably expects to owe, an aggregate outstanding amount in excess of USD 300,000 (a "<u>Material Supplier</u>"), Helios shall procure that such Material Supplier executes a Supplier Subordination Acknowledgment in the form of Schedule 6-A attached hereto.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Helios shall not incur or permit any obligation to a Material Supplier to exceed USD 300,000 unless a duly executed Schedule 6-A is already in effect with respect to such counterparty prior to such threshold being exceeded. For the avoidance of doubt, no purchase order, invoice, or contractual commitment that would cause the aggregate outstanding amount to a single counterparty to exceed USD 300,000 shall be entered into or accepted without a Schedule 6-A in effect.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Inclusion of any new contractor on Schedule 2 shall be conditional upon delivery of a duly executed Schedule 6-A.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Helios shall deliver to Energea, together with each Monthly Report, an updated register of all counterparties required to have a Schedule 6-A on file, and the aggregate outstanding amount owed to all counterparties that have not executed a Schedule 6-A.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e) Aggregate Unsubordinated Exposure. Helios shall not incur or permit the aggregate outstanding amount owed by Helios and its Subsidiaries to all suppliers, contractors, and service providers that have not executed a Schedule 6-A to exceed USD 2,000,000 at any time. For the avoidance of doubt, no purchase order, invoice, or contractual commitment shall be entered into or accepted if doing so would cause the aggregate unsubordinated exposure to exceed USD 2,000,000."*

19. Incorporation of Exhibits and Schedules

The following documents, in the forms attached to this Addendum, are hereby incorporated into and made part of the Agreement:

(a) Exhibit D - Form of Banking Attorney Resolution (*Acta de Nombramiento de Apoderado Especial Bancario*), as referenced in Section 9.3(c).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Schedule 6-A - Form of Supplier Subordination Acknowledgment (*Modelo de Reconocimiento de Subordinacion de Proveedores*), as referenced in Section 5.2.14.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Schedule 4-A - Legacy Trade Payables (*Relacion de Cuentas por Pagar Comerciales Preexistentes*), as referenced in Section 3.1.7.

All references in the Agreement or in this Addendum to "<u>Exhibit D</u>," "<u>Schedule 6-A,</u>" or "<u>Schedule 4-A</u>" shall mean the forms attached hereto, as they may be amended from time to time with the prior written consent of Energea.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. Amendment of Section 6.1 and Amendment and Restatement of Section 6.4 - Events of Default Classification and Cure Periods

Section 6.1 of the Agreement is hereby supplemented by the insertion of a new Section 6.1A, and Section 6.4 of the Agreement is hereby amended and restated in its entirety, as follows:

"6.1A Default Classification.

For purposes of this Agreement, Events of Default shall be classified into three categories based on severity. The classification of an Event of Default shall determine the applicable cure period under Section 6.4, but shall not limit, restrict, or otherwise affect the remedies available to Energea upon the occurrence of an uncured Event of Default. For the avoidance of doubt, upon expiration of the applicable cure period without cure, all remedies under this Agreement and the Loan Documents shall be available to Energea concurrently and in any order, regardless of the classification of the underlying Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Category 1 - Immediate Events of Default. The following Events of Default shall not be subject to any cure period beyond that expressly provided in the Agreement as of the date hereof (including, for the avoidance of doubt, the ten*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) Business Day cure period for Payment Defaults under former Section 6.4.3):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) Non-payment of any scheduled principal, interest, fee, or other amount under the Loan Documents after expiration of the existing ten (10) Business Day cure period;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii) Bankruptcy, insolvency, liquidation, dissolution, or cessation of material operations of Helios or any material Subsidiary;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iii) Change of Control;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iv) Any Loan Document or any material provision thereof ceasing to be in full force and effect, or Helios asserting the invalidity thereof;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(v) Any Lien created under the Loan Documents ceasing to be a valid and perfected Lien with the required priority, or Helios asserting in writing that such Lien is not valid or perfected;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(vi) Unauthorized Collateral Dispositions, being the sale, transfer, or disposal of any material Collateral without Energea's prior written consent, except as expressly permitted under the Loan Documents;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(vii) Issuing instructions to the Trustee that conflict with the Trust Agreement or this Agreement, including directing the Trustee to redirect funds for purposes not authorized by Energea, or attempting to amend or terminate the Trust Agreement without Energea's prior written consent;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(viii) Opening or using any additional collections accounts without Energea's prior written consent (Section 9.5(a));*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ix) Diverting collections away from the Revenue Controlled Account (Section 9.5(b));*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(x) Changing government disbursement instructions or changing the receiving bank or account without Energea's prior written consent (Section 9.5(c));*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(xi) Active removal, disabling, or circumvention of maker-checker controls, the Banking Special Attorney's authority, or any Controlled Account control mechanism after such controls have been implemented, without Energea's prior written consent;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(xii) Making payments outside the Interim Waterfall or Trust waterfall priority without Energea's prior written consent (Section 9.5(e)); provided that a payment processed through the override mechanism set forth in Section 9.3(d)(iii) in compliance with the conditions therein shall not constitute an Event of Default under this paragraph (xii);*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(xiii) Cross-Default: the occurrence of any event of default (howsoever defined) under any agreement, instrument, or obligation for borrowed money to which Helios or any Subsidiary is a party or by which any of its assets is bound, if the aggregate principal amount of the obligations subject to such default equals or exceeds USD 2,000,000 (or its equivalent in any other currency); and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(xiv) The occurrence of a Material Adverse Effect that is not reasonably capable of cure. Upon Energea raising such Material Adverse Effect, Helios shall have three (3) Business Days to contest the determination. If Helios contests, the Parties shall refer the matter to an amigable componedor appointed through the Cámara de Comercio de Barranquilla with relevant expertise (financing, legal, or as dictated by the nature of the alleged Material Adverse Effect). The amigable componedor shall render a binding determination within fifteen (15) Business Days of appointment. During such determination period, Energea shall retain all protective measures under Section 6.4(c).*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Category 2 - Short-Cure Defaults. The following Events of Default shall be subject to the cure periods specified below, commencing upon delivery of written notice from Energea to Helios:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) Failure to replenish the DSRA to the DSRA Requirement in accordance with the replenishment obligations set forth in Section 5.4.3(f) following receipt of a Government Payment; provided that, if no Government Payment is received within sixty (60) Business Days of a Permitted DSRA Draw that results in a DSRA Shortfall, such failure shall constitute an Event of Default on the sixtieth (60th) Business Day;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii) Breach of the Perimeter Covenant (Section 5.2.13): fifteen (15) Business Days (Section 5.2.13(e));*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iii) Failure to initially implement controlled account documentation or maker-checker controls within the timeframes required under Section 9.3: fifteen (15) Business Days from delivery of Energea's written notice; provided that no Advance shall be disbursed until such implementation is confirmed;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iv) Collateral defaults, including failure to register or maintain security interests, or any act or omission that jeopardizes Energea's priority or interest in the Collateral: thirty (30) Business Days;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(v) Material breaches of the Loan Documents not otherwise classified in this Section 6.1A, being breaches that impair Energea's ability to monitor, enforce, or protect its security interests, including without limitation failure to maintain insurance policies, obtain necessary permits, or provide information material to Energea's credit assessment: fifteen (15) Business Days;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(vi) Misrepresentation: any representation or warranty made by Helios in any Loan Document found to be materially inaccurate when made or deemed made shall be subject to fifteen (15) Business Days' cure to the extent the underlying condition is curable. If the misrepresentation is not reasonably capable of cure, it shall be treated as a Category 1 Event of Default.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(vii) Failure to satisfy any post-closing obligation under Section 25.3 within the timeline designated by Energea in writing pursuant to Section 25.3. The cure period shall be fifteen (15) Business Days from delivery of Energea's written notice of non-compliance. For the avoidance of doubt, the timeline designated by Energea under Section*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.3 is the performance deadline, not an additional cure period; the cure period under this paragraph (vii) commences upon delivery of Energea's default notice after expiration of the designated timeline. For the avoidance of doubt, nothing in this paragraph (vii) shall limit Energea's discretion to designate timelines of any duration under Section 25.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(viii) The occurrence of a Material Adverse Effect that is reasonably capable of cure: fifteen (15) Business Days. If Helios fails to cure within such period, the Event of Default shall be reclassified as a Category 1 Immediate Event of Default.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ix) MTR non-compliance on any Project for which an EPC Advance disbursement request is pending: fifteen (15) Business Days. No EPC Advance shall be disbursed until Energea confirms in writing that all equipment for the related Project is compliant with the current MTRs or has been expressly approved under Section 5.5(c).*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Category 3 - Administrative Defaults. The following Events of Default shall be subject to a cure period of thirty*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30) Business Days, commencing upon delivery of written notice from Energea to Helios:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) Failure to deliver any Monthly Report, Financial Certificate, Quarterly Pipeline Report, or other periodic report within the timeframes required under this Agreement;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii) Failure to deliver a supplier subordination register or updated counterparty register under Section 5.2.14(d);*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iii) Regulatory or environmental violations where such non-compliance could reasonably be expected to result in a Material Adverse Effect, provided that Helios is diligently pursuing remediation;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iv) MTR non-compliance on projects for which no EPC Advance disbursement request is pending;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(v) Failure to comply with any other administrative or operational covenant of this Agreement not otherwise classified in paragraphs (a) or (b) above.*

For the avoidance of doubt, no cure period under this paragraph (c) shall exceed thirty (30) Business Days, and no extension, remediation plan approval, or additional grace shall be required or permitted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 Cure Periods and Protective Ratchets (Amended and Restated).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Cure Period Governance. The cure periods set forth in Section 6.1A shall supersede and replace the cure periods in former Section 6.4 in their entirety. All references in this Agreement or any Loan Document to cure periods under Section 6.4 shall be deemed to refer to the cure periods set forth in Section 6.1A.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Step-Up Interest During Cure. Upon delivery of a written default notice by Energea under Section 6.1A(b) or*

6.1A(c), the Step-Up Interest Rate under Section 2.4.6 shall accrue automatically from the date of such notice, regardless of whether the Event of Default is subsequently cured. If the Event of Default is cured within the applicable cure period, Step-Up Interest shall cease to accrue as of the date of cure but shall remain payable for the period during which it accrued; provided, however, that with respect to Category 3 Administrative Defaults only, if Helios cures the Event of Default within fifteen (15) Business Days of the date of notice (being fifty percent (50%) of the Category 3 cure period), any Step-Up Interest accrued during such period shall be waived. The delivery of a default notice under this Section shall be made in good faith based on a bona fide belief by Energea that an Event of Default has occurred. If Helios disputes the occurrence of the asserted Event of Default, Helios may deliver a written objection to Energea within five (5) Business Days of receipt of the default notice, setting forth the factual and legal basis for its objection. Delivery of such objection shall not toll or suspend the cure period or the accrual of Step-Up Interest. However, if the matter is submitted to arbitration under Section 10 and the arbitral tribunal determines that no Event of Default had

occurred at the time of the notice, or that the notice was not delivered in good faith, the tribunal shall have authority to order the refund of any Step-Up Interest collected in connection with such notice, together with interest thereon at the Applicable Rate from the date of collection to the date of refund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Automatic Protective Measures During Cure. From the date of delivery of a written default notice under Section*

6.1A(b) or 6.1A(c) until the earlier of (i) cure or (ii) expiration of the cure period, the following protective measures shall apply automatically; provided that the exercise or non-exercise of any such measure shall not constitute a waiver of, or election among, any other right or remedy available to Energea under this Agreement, the Loan Documents, or Section 25.5:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) Energea shall have no obligation to fund any Advance;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii) Helios shall not declare, make, or permit any distribution, dividend, or payment to any shareholder, Related Party, or Affiliate, other than scheduled debt service under this Agreement and approved operating expenses within the Interim Waterfall or Trust waterfall;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iii) Helios shall provide Energea with status updates on the steps being taken to cure the Event of Default: (A) for Category 2 Short-Cure Defaults, weekly from the date of the default notice; and (B) for Category 3 Administrative Defaults, upon the occurrence of any material development and in any event not less than once every fifteen (15)*

Business Days; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iv) Energea may, in its sole discretion, require Helios to deposit all available cash in excess of approved operating expenses into the DSRA or Revenue Controlled Account until the Event of Default is cured.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Uncured Defaults. Upon expiration of any cure period under Section 6.1A without cure, the underlying Event of Default shall be deemed a fully matured Event of Default, and Energea may exercise any and all rights and remedies available under this Agreement and the Loan Documents, concurrently or in any order, without any requirement to exhaust any particular remedy before pursuing another and without the consent of Helios. For the avoidance of doubt, the protective measures set forth in paragraph (c) above are designed for Category 2 and Category 3 defaults only; Category 1 Events of Default carry the right to immediate full remedies upon expiration of any express cure period set forth in the Agreement, without any intermediate protective measure framework.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e) No Implied Waiver. The classification of Events of Default under Section 6.1A and the provision of cure periods shall not be construed as a waiver, limitation, or modification of any right or remedy of Energea under this Agreement or any Loan Document. Energea's decision not to deliver a default notice or not to exercise a remedy during or after a cure period shall not constitute a waiver of any subsequent or continuing Event of Default.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(f) Relationship to Section 25.5. For the avoidance of doubt, nothing in this Section 6.1A or Section 6.4 shall modify, limit, or be construed as inconsistent with Section 25.5 of this Addendum. All provisions regarding no novation, no standstill, no forbearance, and concurrent remedies preservation as set forth in Section 25.5 remain in full force and effect.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(g) Trustee-Delay Tolling. If Helios demonstrates to Energea's reasonable satisfaction that a Payment Default under Section 6.1A(a)(i) resulted exclusively from a delay attributable to the Trustee's administrative processing or bank clearing on a Trust-administered account, and that sufficient funds were on deposit in the relevant Trust account on or before the applicable payment date to satisfy the obligation in full, then the cure period for such Payment Default shall be tolled for a period not exceeding five (5) Business Days from the date on which Helios delivers to Energea documentary evidence of such Trustee delay and available funds. This tolling provision shall not apply during the Interim Period (as defined in Section 9.1), shall not apply to any shortfall attributable to insufficient funds, and shall not be available more than twice in any twelve (12)-month period.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(h) Checker Non-Response Safe Harbor. No Event of Default arising from a payment delay or covenant non-performance shall be deemed to have occurred to the extent that Helios demonstrates to Energea's reasonable satisfaction that such delay or non-performance resulted directly and exclusively from the failure of the Banking Special Attorney to act on a timely and waterfall-compliant payment instruction within the timeframes set forth in Section 9.3(d). During any period of demonstrated checker non-response, and subject to a maximum tolling period of ten (10) Business Days per occurrence:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) cure periods for Helios payment, distribution, and funding obligations that required the checker's approval and were directly affected by such non-response shall be tolled (but cure periods for obligations not requiring checker approval, including reporting, perimeter, and insurance covenants, shall not be tolled);*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii) the Step-Up Interest Rate shall not accrue on amounts that Helios was unable to pay solely due to the checker non-response; and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iii) Helios shall not be deemed in breach of any distribution, payment, or funding obligation to the extent that performance required the checker's approval. This safe harbor shall not apply if (A) the payment instruction was*

inconsistent with the Interim Waterfall or exceeded the approved budget, (B) a Default notice had been delivered to Helios prior to submission of the instruction, or (C) Helios failed to follow the escalation procedure set forth in Section 9.3(d). For the avoidance of doubt, tolling under this paragraph (h) shall terminate upon execution of the override mechanism under Section 9.3(d)(iii), and shall in no event exceed ten (10) Business Days per occurrence."

21. Insertion of Section 5.7 - Energea Operational Representative

A new Section 5.7 is hereby inserted into the Agreement as follows:

"5.7 Energea Operational Representative.

*(a) Appointment. Energea shall, within thirty (30) days of execution of this Addendum, designate a natural person resident in Colombia or an entity with offices in Colombia (the "<u>Energea Operational Representative</u>") to serve as its local operational liaison for purposes of this Agreement.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Scope. The Energea Operational Representative shall be authorized to: (i) receive notices and communications delivered by Helios under this Agreement; (ii) execute routine operational documents, bank instructions, and administrative filings on behalf of Energea to the extent specifically authorized by Energea in writing; (iii) coordinate with Colombian banks, regulatory entities, and service providers in connection with the Controlled Accounts, Trust establishment, and other operational matters under this Agreement; and (iv) attend periodic operational review meetings with Helios management. For the avoidance of doubt, the Energea Operational Representative shall not have authority to bind Energea to any new obligation, waive any right or remedy, or amend any Loan Document.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Replacement. Energea may replace the Energea Operational Representative at any time by delivering written notice to Helios identifying the replacement, which notice shall be effective five (5) Business Days after delivery.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Deemed Receipt. If at any time Energea has not designated an Energea Operational Representative, or the designated representative is not available in Colombia, any notice or communication delivered by Helios to Energea's registered address (or the most recent address notified under Section 8.3 of the Agreement) shall be deemed received by Energea on the third (3rd) Business Day following dispatch by internationally recognized courier or by certified email."*

22. Insertion of Section 3.1.7 - Legacy Trade Payables

A new Section 3.1.7 is hereby inserted into the Agreement as follows:

"3.1.7 Legacy Trade Payables.

*(a) Identification and Schedule. Helios acknowledges that, as of the date of this Addendum, it owes certain outstanding trade payables to vendors, contractors, and service providers that arose prior to the date of this Addendum and that are not classified as Indebtedness under Section 1.73 for purposes of the mandatory repayment or subordination obligation under Section 3.1.6 (collectively, "<u>Legacy Trade Payables</u>"). All Legacy Trade Payables shall be identified on Schedule 4-A - Legacy Trade Payables, which shall set forth:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i) the name of each creditor;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii) the aggregate amount outstanding as of the date of this Addendum;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iii) the nature of the underlying obligation;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(iv) the original due date or invoice date and current aging (in 30-day brackets), and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(v) whether such creditor has executed a Subordination Acknowledgment.*

Schedule 4-A shall be delivered by Helios to Energea within ten (10) Business Days of execution of this Addendum.

*(b) Paydown Obligation. Helios shall extinguish all Legacy Trade Payables in full within twenty-four (24) months of the date of this Addendum (the "<u>Legacy Paydown Period</u>"). Legacy Trade Payable payments shall be included as a separate line item in the Approved Budget and paid through the waterfall tier applicable to approved operating expenses (Section 9.4(d) during the Interim Period, or the equivalent Trust waterfall tier thereafter).*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Direct Payment. All payments to Legacy Trade Payable creditors shall be made directly from the Revenue Controlled Account (or, following the Trust Effective Date, the applicable Trust account) to the creditor, and Helios shall not receive, hold, or intermediate such funds. Each payment instruction shall identify the creditor, invoice or*

obligation reference, and amount, and shall be subject to the maker-checker controls applicable to the Revenue Controlled Account under Section 9.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Subordination as Condition Precedent. Prior to the disbursement of the First Advance, Helios shall deliver to Energea duly executed subordination acknowledgments, in a form reasonably acceptable to Energea, from each Legacy Trade Payable creditor identified on Schedule 4-A that has agreed to subordinate (each, a "<u>Subordinating Vendor</u>"), confirming that such creditor's claims are subordinate to the Obligations under this Agreement and the Loan Documents. Delivery of all such subordination acknowledgments shall be a Condition Precedent to the First Advance.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e) Paydown Sequencing. Within the Legacy Paydown Period, Helios shall allocate Legacy Trade Payable payments first to creditors that have not executed a subordination acknowledgment ("<u>Non-Subordinating Vendors</u>") before any payments to Subordinating Vendors, in order to mitigate the risk that such obligations acquire mérito ejecutivo under Colombian law. The pace of paydown shall be determined by available cash flow through the applicable waterfall tier, subject to maintenance of the DSCR and other financial covenants under this Agreement. For the avoidance of doubt, Legacy Trade Payables shall not be repaid from the proceeds of the First Advance; repayment of Legacy Trade Payables shall be funded exclusively through ongoing project revenues applied in accordance with the Interim Waterfall (Section 9.4) or, following the Trust Effective Date, the Trust waterfall.*

*(f) Restrictions. During the Legacy Paydown Period: (i) Helios shall not incur any new trade payable to a creditor listed on Schedule 4-A that would increase the aggregate amount owed to such creditor above the amount set forth on Schedule 4-A, unless such new obligation arises in the ordinary course of business under an existing contract and does not exceed USD 50,000 individually; and (ii) Helios shall not settle, restructure, or renegotiate any Legacy Trade Payable on terms less favorable to Energea (including extending maturity beyond the Legacy Paydown Period) without Energea's prior written consent.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(g) Reporting. Helios shall include in each Monthly Report delivered under Section 5.2.1(c): (i) the outstanding balance of each Legacy Trade Payable; (ii) payments made during the reporting period, with proof of payment (including bank transfer confirmation); (iii) subordination status of each creditor; and (iv) expected extinguishment timeline, until all Legacy Trade Payables are fully extinguished.*

*(h) Default. Failure to extinguish all Legacy Trade Payables within the Legacy Paydown Period shall constitute an Event of Default, classified as a Category 2 Short-Cure Default under Section 6.1A(b), with a cure period of fifteen*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) Business Days from delivery of Energea's written notice."

23. Insertion of Section 3.1.8 - Advance Request Response and Right of First Refusal

A new Section 3.1.8 is hereby inserted into the Agreement as follows:

"3.1.8 Advance Request Response and Right of First Refusal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Response Periods. Upon receipt of a duly completed Advance Request from Helios under Section 2.2.1, Energea shall respond within: (i) fifteen (15) Business Days for Working Capital Advances; and (ii) ninety (90) Business Days for EPC Advances.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Right of First Refusal. If Energea declines an Advance Request or fails to respond within the applicable period under paragraph (a), the Right of First Refusal under Section 5.2.12 of the Agreement (Applicable Debt Financing) shall apply. For the avoidance of doubt, Section 5.2.12 provides Helios with a structured exit to third-party financing, subject to the timelines and conditions set forth therein.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c) Subordination of Third-Party Financing. Any Indebtedness incurred by Helios through third-party financing following the exercise of the Right of First Refusal under Section 5.2.12 shall be fully subordinated to the obligations under this Agreement and the Loan Documents. Such subordination shall be documented in form and substance satisfactory to Energea prior to the disbursement of any third-party funds.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d) Standstill During Disputes. During any period in which a Material Adverse Effect determination or Event of Default is pending under Sections 6.1A or 6.4, Helios shall not (i) incur any new Indebtedness, (ii) make any distribution, dividend, or payment to any shareholder, Related Party, or Affiliate (other than scheduled operating expenses in the approved budget), (iii) dispose of, encumber, or transfer any material asset or Collateral, or (iv) take any action that would materially alter the financial position or asset base of Helios or any Subsidiary."*

24. Amendment of Section 2.7 - Voluntary Prepayment

Section 2.7 of the Agreement is hereby amended and restated in its entirety as follows:

"2.7 Voluntary Prepayment. Helios may prepay any outstanding Advance, in whole or in part, at any time without premium, penalty, or minimum or maximum holding period, upon not less than thirty (30) days' prior written notice to Energea. Any voluntary prepayment shall be accompanied by payment of all accrued and unpaid interest on the amount prepaid through the date of prepayment. Voluntary prepayments shall be applied in inverse order of maturity unless otherwise agreed by the Parties in writing. For the avoidance of doubt, no breakage costs shall apply to voluntary prepayments except to the extent of documented hedging breakage costs, if any."

25. Effectiveness and Waiver of Certain Conditions Precedent

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.1 Effectiveness. Notwithstanding anything to the contrary in Section 3.1 of the Agreement, the Parties agree that the Agreement, as amended by this Addendum, shall be deemed fully effective as of the date of execution of this Addendum. The Agreement and this Addendum shall be read and construed as a single instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.2 Waiver for Effectiveness Only. Any Conditions Precedent listed in Section 3.1 of the Agreement that remain unfulfilled as of the date of this Addendum are hereby waived for purposes of effectiveness only. Such waiver shall not impair the validity, enforceability, or binding nature of the Agreement or any Loan Document. For the avoidance of doubt, (i) such Conditions Precedent are conditions to further Advances only and shall not affect the enforceability of any obligation, representation, warranty, or remedy under the Agreement or any Loan Document; and (ii) no failure to satisfy any Condition Precedent prior to the date of this Addendum shall, in and of itself, constitute an Event of Default, provided that all such Conditions Precedent shall remain in full force as post-closing obligations subject to the timelines designated by Energea under Section 25.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.3 Post-Closing Obligations. Such unfulfilled Conditions Precedent, including without limitation those set forth below, shall remain in full force as post-closing obligations of Helios and must be fulfilled no later than the following deadlines:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) execution of the Trust Agreement and appointment of the Trustee - sixty (60) Business Days from the date of this Addendum; (b) registration or implementation of applicable corporate authorizations - fifteen (15) Business Days from the date of this Addendum; (c) establishment of the Trust-administered accounts - forty-five (45) Business Days from the date of this Addendum; and (d) re-execution of the Equity Pledge Agreement - fifteen (15) Business Days from the date of this Addendum (of which (1) notarized execution shall occur no later than ten (10) Business Days from the date of this Addendum, and (2) registration in the *Registro de Garantías Mobiliarias* (Colombian Registry of Movable Guarantees) shall occur no later than five (5) Business Days after such notarized execution). Notwithstanding the foregoing, with respect to paragraphs (a) and (c) only, if Helios demonstrates to Energea's reasonable satisfaction that the delay is attributable to administrative processing by the fiduciary entity, regulatory approval timelines, or other factors outside the reasonable control of both Helios and Energea (an "<u>External Trust Delay</u>"), then the applicable deadline shall be tolled for the duration of such External Trust Delay, subject to the following conditions: (A) Helios delivers written notice to Energea within five

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Business Days of becoming aware of such delay, together with documentary evidence of the external cause; (B) Helios demonstrates that it is diligently pursuing completion of the affected obligation; (C) tolling shall not exceed sixty (60) additional Business Days beyond the original deadline; and (D) tolling shall terminate immediately upon the earlier of the resolution of the External Trust Delay or expiration of the sixty (60) Business Day tolling cap. For the avoidance of doubt, this tolling provision does not apply to paragraphs (b) or (d), which remain subject to their respective deadlines without extension. Failure to satisfy any post-closing obligation within the applicable deadline (as tolled, if applicable) shall constitute an Event of Default under Section 6.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.4 Interim Period Governance. During the Interim Period (as defined in Section 9.1), all cash management, controlled account, and waterfall obligations shall be governed by Section 9 of this Addendum. The provisions of Section 9 shall apply immediately upon execution and shall not be conditioned on the fulfillment of any outstanding Condition Precedent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.5 No Novation or Standstill; Concurrent Remedies Preserved. For the avoidance of doubt, (a) this Addendum does not constitute a novation of the Agreement or any Loan Document; (b) all existing Obligations of Helios under the Agreement remain in full force and effect except as expressly amended herein; (c) no provision of this Addendum shall be construed as creating a standstill, forbearance, or suspension of any right or remedy of Energea under the Loan Documents; and (d) Energea retains the right at all times to exercise any and all rights and remedies available under this Agreement and the Loan Documents concurrently or in any order, without any requirement to exhaust any particular remedy before pursuing another, and without requiring the consent of Helios as to the selection, sequencing, or timing of any enforcement action. Nothing in Section 4.9 or elsewhere in this Addendum shall be construed as establishing a mandatory enforcement sequence or as conditioning any remedy upon the prior exhaustion of any other remedy.

CLOSING REMARKS

Except as expressly modified herein, all other terms, conditions, and obligations under the Agreement shall remain in full force and effect.

Counterparts; Electronic Execution. This Addendum may be executed in any number of counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Delivery of an executed counterpart by electronic means, including by portable document format (.pdf), electronic signature platform (including Dropbox Sign), or other electronic transmission, shall be equally effective as delivery of a manually executed counterpart. For all purposes under Colombian law requiring notarization or registration (including, without limitation, the *Registro Único de Garantías Mobiliarias*), the Parties shall, upon request by either Party, execute and deliver wet-ink or notarized counterparts of this Addendum, in which case such counterparts shall be deemed effective as of the Effective Date regardless of the date of physical execution or notarization.

IN WITNESS WHEREOF, the Parties have caused this Addendum to be executed by their duly authorized representatives as of the Effective Date.

SIGNATURES

![](image006.jpg)

For Energea Portfolio 5 LATAM LP,

Name: Mike Silvestrini Title: Managing Partner

For Helios Energía S.A.S. E.S.P.,

![](image002.jpg)

Name: Angelina Alvear Flórez Title: Legal Representative

For Helios Energía S.A.S. E.S.P.,

![](image003.jpg)

Name: Juan Pablo Ballestas Juliao Title: Operational Assigned Manager

ANNEXES, EXHIBITS, AND SCHEDULES

The following documents are attached for reference only and form part of the Agreement pursuant to Section 19 (Incorporation of Exhibits and Schedules) of Addendum No. 01.

No signature is required on the pages that follow.

![](image004.jpg)

![](image005.jpg)

 *ANNEX 1 AMENDED SCHEDULE 1 - ADVANCE REQUEST FORM*

*(Replaces Schedule 1 of the Agreement pursuant to Section 13 of Addendum No. 01)*

This Advance Request Form is submitted pursuant to the Loan and Security Agreement, dated as of January 22, 2025 (the "Agreement"), as amended by Addendum No. 01 (the "Addendum"), by and between Energea Portfolio 5 LATAM LP ("Energea") and Helios Energía S.A.S. E.S.P. ("Helios"). All capitalized terms used but not defined in this Advance Request Form shall have the meanings ascribed to them in the Agreement and the Addendum.

 *1. Advance Request Details*

---

| |
|:---|
| **Date of Request:** |
| **Type of Advance:** |

---

(Select one:)

☐ EPC Advance <br> ☐ <u> Working Capital Advance (First) </u> <br> ☐ <u> Working Capital Advance (Subsequent) </u>

---

| |
|:---|
| **Requested Amount (USD):** |
| **Date Required:** |
| **Purpose of Advance:** |

---

 *2. Supporting Documentation Checklist*

(Include all required attachments for the requested Advance type as per Section 2.1 of the Agreement and the Addendum.)

**For First Working Capital Advance**, attach:

☐ Evidence of all Corporate Debt (Schedule 4), including payoff instructions and account details.

☐ A Financial Certificate.

☐ Certification of compliance with Anti-Corruption Laws and Anti-Money Laundering Laws.

☐ Evidence of DSRA initial funding or funding plan (Section 5.4.3(c) of the Addendum).

☐ Evidence of Controlled Account designation and maker-checker activation (Section 9.2-9.3).

☐ Schedule 4-A (Legacy Trade Payables), delivered per Section 3.1.7(a) of the Addendum.

☐ &nbsp;&nbsp;&nbsp;&nbsp; Subordination acknowledgments from all Subordinating Vendors identified on Schedule 4-A, per Section 3.1.7(d) of the Addendum.

##### For Subsequent Working Capital Advances , attach:
☐ Documentation confirming the intended use of funds. <br> ☐ <u> A Financial Certificate. </u>

☐ Certification of compliance with Anti-Corruption Laws and Anti-Money Laundering Laws.

☐ Current DSRA balance confirmation and compliance with DSRA Requirement (Section 5.4.3).

☐ &nbsp;&nbsp;&nbsp;&nbsp; Current supplier subordination register (Section 5.2.14(d)) and confirmation that aggregate unsubordinated exposure does not exceed USD 2,000,000.

☐ Confirmation that no Default or Event of Default exists under Section 9.5.

**For First EPC Advance**, attach:

☐ All Project documents, including EPC agreements, project budgets, supplier invoices, construction schedules, and payment schedules.

☐ Certification of compliance with Anti-Corruption Laws and Anti-Money Laundering Laws.

☐ A Financial Certificate.

☐ Written confirmation from Energea that all equipment for the related Project complies with the current MTRs or has been expressly approved (Section 5.5(d) of the Addendum).

☐ Evidence of DSRA compliance (balance ≥ DSRA Requirement).

☐ &nbsp;&nbsp;&nbsp;&nbsp; Evidence that all required Supplier Subordination Acknowledgments (Schedule 6-A) are in effect for Material Suppliers (Section 5.2.14).

**For Subsequent EPC Advances**, additionally attach:

☐ &nbsp;&nbsp;&nbsp;&nbsp; Copies of the Cartas de Adherencia for the subscribers associated with the projects to be financed by the requested Advance.

☐ &nbsp;&nbsp;&nbsp;&nbsp; Summary of project construction status, including details of completed projects and confirmation of SSPD registration for projects that have reached operational status.

☐ MTR compliance confirmation for the specific Project (Section 5.5(d)).

☐ Perimeter Covenant compliance certification (Section 5.2.13): confirmation that the Project is within the secured perimeter and that no new entity, contract, or asset transfer has occurred outside the perimeter without Energea's consent.

☐ Updated Quarterly Pipeline Report if due (Section 5.2.13(d)).

 *3. Declaration by Helios*

By submitting this Advance Request Form, Helios certifies the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The representations and warranties set forth in the Agreement and the Addendum remain true and correct as of the date of this request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. No Default or Event of Default, or event that with notice or lapse of time would constitute an Event of Default, has occurred and is continuing, including under Section 9.5 of the Addendum (Controlled Account

defaults).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The requested Advance will be used solely for the purposes authorized under the Agreement and the Addendum and in compliance with applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The DSRA balance equals or exceeds the DSRA Requirement as of the date hereof (Section 5.4.3).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Helios is in compliance with the Perimeter Covenant (Section 5.2.13), including the management fee prohibition under Section 5.2.13(c)(v).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. All Material Suppliers (as defined in Section 5.2.14) have executed a Supplier Subordination Acknowledgment (Schedule 6-A), and the aggregate unsubordinated exposure does not exceed USD 2,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The maker-checker controls on all Controlled Accounts are operational and no unauthorized disbursement or account change has occurred.

 *4. Payment Instructions*

Please disburse the requested Advance to the following account:

**During the Interim Period** (before Trust Effective Date):

---

| |
|:---|
| **Account Name:** |
| **Bank Name:** |
| **Account Number:** |
| **SWIFT/BIC Code:** |
| **Account Type:** |

---

*(Note: This account must be the Revenue Controlled Account designated under Section 9.2 of the Addendum or the Interim Reserve Account designated under Section 9.1(j) of the Addendum, subject to maker-checker controls under Section 9.3.)*

##### After Trust Effective Date :

---

| |
|:---|
| **Account Name:** |
| **Trust/Fiducia Name:** |
| **Bank Name:** |
| **Account Number:** |
| **SWIFT/BIC Code:** |

---

*(Note: This account must be the Trust-administered account designated under the Trust Agreement.)*

 *5. Submitted by*

##### Helios Energía S.A.S. E.S.P.
By:<u> </u> Name:<u> </u> Title:<u> </u> Date:<u> </u>

 *6. Receipt and Approval by Energea*

##### Energea Portfolio 5 LATAM LP
Received:<u> </u>

Approved / Rejected: <u> </u>

By:<u> </u> Name:<u> </u> Title:<u> </u> Date:<u> </u>

Comments / Conditions: <u> </u>

 *ANNEX 2 AMENDED SCHEDULE 8 - PROJECT INFORMATION AND REPORTING*

*(Replaces Schedule 8 of the Agreement pursuant to Section 13 of Addendum No. 01)*

This Schedule outlines the project-related information required under the Loan and Security Agreement, dated as of January 22, 2025 (the "Agreement"), as amended by Addendum No. 01 (the "Addendum"). Helios shall provide periodic reports to Energea containing the metrics and details described below for all active, planned, and completed Projects, including Government Projects, Energea Projects, and Commercial and Distributed Projects (as defined in Section 1.49 of the Agreement, as amended).

-------------------- *PART A - MONTHLY REPORT*

*(Due within fifteen (15) days after the end of each calendar month, per Section 5.2.1(c))*

 *A.1 Controlled Account and Waterfall Reporting*

A.1.1 Bank statements for all Controlled Accounts (Revenue Controlled Account, DSRA Controlled Account, and any Operating Controlled Account), including opening balance, all transactions, and closing balance.

A.1.2 Evidence of Interim Waterfall application (Section 9.4) or Trust waterfall application (post-Trust Effective Date), showing each priority tier, amounts applied, and residual released to Helios.

A.1.3 DSRA Requirement calculation (being three (3) times the Scheduled Debt Service for the immediately preceding calendar month, or four (4) times if a Reserve Step-Up is in effect under Section 5.4.3(a)(ii)), actual DSRA balance, any draws during the period, replenishment status, and remaining replenishment timeline (if

applicable). If a DSRA Shortfall exists, include evidence of government receipt delay extension request (if applicable, per Section 5.4.3(f)). *A.2 Revenue and Subsidy Reporting*

A.2.1 Total revenue per Project category (Government Projects, Energea Projects, Commercial and Distributed Projects), segmented into: (a) Government subsidies received during the period; (b) Direct subscriber/customer

payments collected; (c) C&I contract revenues; (d) Community energy and virtual self-generation revenues.

A.2.2 Cumulative government subsidies disbursed to date.

A.2.3 Government subsidy receivables aging report, including evidence of submission/validation and expected payment timing. If any receivable is overdue by more than ninety (90) days, include evidence of legal recourse

initiated (Derecho de Peticion or Tutela).

A.2.4 Average revenue per subscriber (ARPS), calculated by Project category. *A.3 Subscriber and Deployment Metrics*

A.3.1 Total number of existing subscribers/customers under operation, segmented by Project category.

A.3.2 New subscribers/customers added during the reporting period.

A.3.3 Geographic distribution, segmented by region and municipality.

 *A.4 Energy System Metrics*

A.4.1 Aggregate capacity installed (kW) across all subscriber/customer systems, segmented by Project category.

A.4.2 Average daily energy consumption per subscriber (kWh).

A.4.3 Percentage of subscribers/customers receiving uninterrupted service (% availability).

 *A.5 Financial Covenants and Ratios*

A.5.1 DSCR and DSCCR calculations with supporting detail.

A.5.2 Summary of all related-party transactions during the period (including executive compensation), specifying counterparty, amount, purpose, and account used (per Section 5.2.1(c)(vi)).

A.5.3 Confirmation that no management fee, service fee, license fee, royalty, or similar payment has been charged outside the controlled waterfall and approved budget (per Section 5.2.13(c)(v)).

 *A.6 Supplier Subordination Register*

A.6.1 A register of all outstanding supplier, contractor, and service provider obligations exceeding USD 100,000 individually, specifying: (a) counterparty name and NIT; (b) aggregate amount outstanding; (c) aging; (d) whether a Subordination Acknowledgment (Schedule 6-A) has been executed (per Section 5.2.1(c)(viii)).

A.6.2 Aggregate unsubordinated exposure (total outstanding to counterparties without a Schedule 6-A in effect), with confirmation that the aggregate does not exceed USD 2,000,000 (per Section 5.2.14(e)). *A.7 Material Developments*

A.7.1 Any material developments, including new Projects, SPVs, defaults, litigation, regulatory actions, or changes to government subsidy programs.

A.7.2 Any changes to Controlled Account banks, signatories, or maker-checker configurations.

A.7.3 Status of Banking Attorney Resolution registration and any dormancy/reactivation events (per Section 9.6).

 *A.8 Cost and Investment Summary*

A.8.1 Total capital expenditures (CAPEX) by category: (a) equipment acquisition; (b) installation costs.

A.8.2 Total operational expenditures (OPEX) by category: (a) maintenance costs; (b) administrative costs.

A.8.3 Average cost per subscriber/customer installation, segmented by Project category.

A.9 Legacy Trade Payables

A.9.1 Outstanding balance of each Legacy Trade Payable listed on Schedule 4-A.

A.9.2 Payments made during the reporting period, with proof of payment (including bank transfer confirmation).

A.9.3 Subordination status of each creditor (Subordinating Vendor or Non-Subordinating Vendor, per Section 3.1.7(d) and (e)).

A.9.4 Expected extinguishment timeline, until all Legacy Trade Payables are fully extinguished (per Section 3.1.7(g)).

--------------------

 *PART B - QUARTERLY REPORT*

*(Due within fifteen (15) days after the end of each calendar quarter)*

 *B.1 Perimeter Covenant Pipeline Report (Section 5.2.13(d))*

B.1.1 A report listing all new projects, SPVs, expansions, and development initiatives during the quarter, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Project name and type (Government, Energea, or Commercial and Distributed); (b) status (development, construction, operational); (c) projected COD; (d) expected annual revenues; (e) the account(s) into which revenues

will be deposited; (f) whether the Project is within the secured perimeter; (g) Energea consent status (approved, pending, not required).

 *B.2 Operational Status*

B.2.1 Active and operational systems (number and percentage), segmented by Project category.

B.2.2 Systems under construction (number and percentage).

B.2.3 Planned systems, segmented by: (a) number of subscribers/customers; (b) estimated completion timelines; (c) Project category.

 *B.3 Growth and Efficiency Metrics*

B.3.1 Subscriber/customer growth rate (quarterly and year-over-year).

B.3.2 Replacement rate for aging or faulty systems (% of systems replaced/upgraded during reporting period).

B.3.3 Average resolution time for service disruptions (days per reported issue).

 *B.4 Project-Level Financial Metrics*

B.4.1 Development return (portfolio-level, aggregated), segmented by Project category.

B.4.2 Internal rate of return (IRR) for the portfolio at financial close, segmented by Project category.

 *B.5 Operations and Maintenance (O&M) Compliance*

B.5.1 Percentage of systems inspected and maintained per schedule.

B.5.2 Percentage of reported issues resolved within SLA timelines.

B.5.3 Data from monitoring systems, including: (a) power generation (kWh); (b) system downtime (hours).

 *B.6 MTR Compliance Summary (Section 5.5)*

B.6.1 Confirmation that all equipment installed during the quarter complies with the current MTRs.

B.6.2 List of any exception requests submitted to Energea, their status (approved/rejected/pending), and the equipment in question.

-------------------- *REPORTING FORMAT AND SUBMISSION*

**Frequency.** Part A (Monthly Report) shall be submitted within fifteen (15) days after the end of each calendar month. Part B (Quarterly Report) shall be submitted within fifteen (15) days after the end of each calendar quarter.

The quarterly submission shall include Part A for the final month of the quarter and Part B.

**Format.** All reports shall be submitted in a format agreed upon by Energea and Helios, which may include electronic spreadsheets, presentations, or other data visualization tools. Helios shall ensure the accuracy and timeliness of all submitted information.

**Certification.** Each Monthly Report and Quarterly Report shall be certified by the Operational Assigned Manager as true, correct, and complete in all material respects as of the reporting date.

 *SIGNATURES*

The undersigned, being duly authorized representatives of the Parties, agree to the terms and contents of this Schedule:

##### For Helios Energía S.A.S. E.S.P.:
By:<u> </u> Name:<u> </u> Title:<u> </u> Date:<u> </u>

##### For Energea Portfolio 5 LATAM LP:
By:<u> </u> Name:<u> </u> Title:<u> </u> Date:<u> </u>

**[EN PAPEL MEMBRETE DE HELIOS ENERGÍA S.A.S. E.S.P.]**

 *EXHIBIT D*

**FORM OF BANKING ATTORNEY RESOLUTION**

###### (Modelo de Acta de Nombramiento de Apoderado Especial Bancario)
*[NOTA: Confirmar estructura accionaria de Helios. Si accionista único, cambiar 'Asamblea de Accionistas' por 'Decisiones del Accionista Único' en todo el documento.]*

**ACTA No. [•]**

**DECISIONES DE LA ASAMBLEA DE ACCIONISTAS HELIOS ENERGÍA S.A.S. E.S.P. - NIT [•]**

Fecha: [•] • Lugar: [•]

 *I. Constancias Preliminares*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Estructura societaria.** Helios Energía S.A.S. E.S.P. (la "Sociedad" o "Helios") es una sociedad por acciones simplificada de servicios públicos constituida bajo las leyes de la República de Colombia. Los accionistas de la

Sociedad, debidamente representados, ejercen las atribuciones del máximo órgano social y adoptan sus determinaciones mediante actas asentadas en el libro de actas de la Sociedad.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. Representación.** Comparece(n) [•], identificado(a) con [•], en calidad de [•] de Helios, con fundamento en el Certificado de Existencia y Representación Legal expedido por la Cámara de Comercio de [•] en fecha [•]

(vigencia ≤ 30 días), con facultades vigentes y suficientes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. Instalación.** Siendo las [•] horas del día [•], la Asamblea instala la sesión y procede a resolver el orden del día.

 *II. Orden del Día*

&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;1. Instalación.

&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;2. Nombramiento de Apoderado Especial Bancario (Banking Special Attorney).

&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;3. Instrucciones de inscripción, formalización y autorizaciones operativas.

&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;&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;4. Lectura y aprobación del acta.

 *III. Considerandos*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** Que la Sociedad es parte del Loan and Security Agreement de fecha 22 de enero de 2025 (el "Acuerdo" o "LSA"), según enmendado por el Addendum No. 01 (el "Addendum" y, conjuntamente con el Acuerdo, el

"Financiamiento"), celebrado con Energea Portfolio 5 LATAM LP ("Energea" o el "Acreedor").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** Que el Addendum, en su Sección 9, exige la implementación de Cuentas Controladas - específicamente la Cuenta de Recaudo Controlada (Revenue Controlled Account) y la Cuenta de Reserva Interina (Interim Reserve Account, según la Sección 9.1(j) del Addendum) (o, tras la Trust Effective Date, la cuenta de reserva administrada por el Trust que contiene la DSRA) (en adelante, la "Cuenta DSRA") - administradas bajo un esquema maker-

checker conforme al Acuerdo y al Addendum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** Que la Sección 9.3(c) del Addendum requiere que Helios adopte un mecanismo de *Apoderado Especial Bancario* (Banking Special Attorney) mediante resolución corporativa, en forma y sustancia satisfactorias para

Energea, para la operación bancaria de las Cuentas Controladas.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv)** Que este mecanismo opera exclusivamente respecto de la Cuenta de Recaudo Controlada y la Cuenta DSRA.

Las cuentas operativas de Helios (financiadas con recursos liberados conforme al *waterfall*) no están sujetas a este poder y permanecen bajo la gestión autónoma de Helios.

 *IV. Resoluciones*

##### PRIMERA - Nombramiento del Apoderado Especial Bancario.
La Asamblea nombra como Apoderado Especial Bancario a [•], [• nacionalidad], identificado(a) con [•], propuesto por Energea bajo el Financiamiento, con facultades limitadas y exclusivas para actuar únicamente respecto de las Cuentas Controladas definidas en el Acuerdo y el Addendum (la Cuenta de Recaudo Controlada y la Cuenta DSRA), sin que ello implique representación legal general de la Sociedad.

##### SEGUNDA - Alcance de facultades (estrictamente bancarias).
Dentro del esquema *maker-checker*, el apoderado podrá, respecto de la Cuenta de Recaudo Controlada y la Cuenta DSRA, y solo para su operación bancaria:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Aprobar y ejecutar pagos, transferencias y débitos previamente preparados por Tesorería de Helios, exclusivamente conforme al Interim Waterfall (Sección 9.4 del Addendum) o al waterfall del Trust Agreement,

según aplique;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Autorizar altas, bajas y cambios de firmantes, beneficiarios, perfiles, límites y parámetros de *e-banking*;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Impartir instrucciones a bancos depositarios (incluidas cartas operativas, *cut-off times*, confirmaciones y formatos propios del banco) para la ejecución del *waterfall* y demás disposiciones del Acuerdo y el Addendum;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Ordenar transferencias entre Cuentas Controladas y, cuando corresponda conforme al Acuerdo, giros a la cuenta de Energea o cuentas de servicio de la deuda;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Suscribir formularios, contratos operativos bancarios, comunicaciones y actualizaciones estrictamente relacionadas con la apertura, operación, mantenimiento y cierre de las Cuentas Controladas, incluyendo KYC/AML

requeridos por las entidades financieras.

##### TERCERA - Exclusiones y límites.
El apoderado no tendrá: (i) representación legal general; (ii) facultades para contratar con terceros ajenos a la operativa bancaria; (iii) facultades laborales; (iv) facultades para disponer de activos distintos a los movimientos permitidos en las Cuentas Controladas; (v) representación judicial general; ni (vi) facultades para modificar el Acuerdo, el Addendum, el Trust Agreement o el waterfall. El apoderado no podrá ampliar, delegar, ceder o sustituir este poder sin autorización previa y escrita de Energea y de la Sociedad.

##### CUARTA - Vigencia, dormancia, reactivación y terminación.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Vigencia inicial. Este poder rige desde su inscripción en la Cámara de Comercio competente.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Período Interino (Interim Period).** Desde la inscripción hasta la Trust Effective Date (según se define en la Sección 9.1(b) del Addendum), el Apoderado Especial Bancario ejercerá activamente sus facultades sobre la Cuenta

de Recaudo Controlada y la Cuenta DSRA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Dormancia durante vigencia del Trust.** Una vez constituida la *fiducia mercantil* (Trust) y operativa la administración fiduciaria sobre las Cuentas Controladas, las facultades del Apoderado Especial Bancario quedarán en estado de dormancia. Durante la dormancia: (i) el registro en Cámara de Comercio permanecerá vigente; (ii) los perfiles de *e-banking* se mantendrán configurados pero desactivados; y (iii) el apoderado no ejecutará instrucciones

salvo que se active la reactivación conforme a la cláusula (d) siguiente.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Reactivación automática.** Las facultades del Apoderado Especial Bancario se reactivarán de pleno derecho, sin necesidad de resolución adicional, ante cualquiera de los siguientes eventos:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) terminación, resolución, liquidación o nulidad del contrato de *fiducia mercantil* (Trust Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) la entidad fiduciaria (Trustee) cese en sus funciones, sea intervenida, liquidada, o pierda su autorización para operar, y no sea reemplazada dentro de los treinta (30) Días Hábiles siguientes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) la Sociedad o Energea notifique al apoderado que el Trust ha dejado de ser operativo por cualquier causa; o

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) ocurra un Event of Default bajo el Acuerdo que afecte la operatividad de las Cuentas Controladas.

Dentro de los cinco (5) Días Hábiles siguientes a la reactivación, Helios deberá reactivar los perfiles de e-banking y notificar a las entidades financieras correspondientes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) Terminación.** Este poder terminará únicamente cuando todas las Obligaciones bajo el Financiamiento hayan sido íntegramente satisfechas y Energea emita un Release Notice. Mientras existan Obligaciones, este poder no

podrá ser revocado, limitado o sustituido sin consentimiento previo y escrito de Energea.

##### QUINTA - Inscripción, formalización y apostilla.
Se autoriza al Representante Legal de la Sociedad para: (i) elevar estas decisiones a documento para inscripción en el Registro Mercantil; (ii) gestionar notarización, apostilla y traducciones oficiales si las exigen bancos del exterior;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) suscribir y entregar Cartas de Instrucciones a cada banco, coherentes con el Acuerdo y el Addendum; y (iv) expedir copias certificadas de la presente acta y sus anexos.

##### SEXTA - Alineación operativa y prevalencia.
La actuación del apoderado se regirá por el Acuerdo, el Addendum, y por las Cartas de Instrucciones remitidas a cada banco. En caso de conflicto, prevalecerán el Acuerdo y el Addendum. Durante la dormancia del poder, las instrucciones a bancos serán impartidas exclusivamente por el *Trustee* conforme al Trust Agreement.

##### SÉPTIMA - Entregables y archivo.
La Sociedad obtendrá y conservará: (i) aceptación escrita del apoderado (Anexo 1 de este Exhibit D); (ii) copia de identificación y demás KYC/AML exigidos por los bancos; (iii) constancia de inscripción del poder en Cámara de Comercio; (iv) copia de las Cartas de Instrucciones entregadas a los bancos; (v) evidencia de activación de perfiles y parámetros de e-banking bajo el esquema maker-checker; y (vi) soportes de los accionistas.

##### OCTAVA - Autorización a bancos y terceros.
Se autoriza a las entidades financieras donde se mantengan las Cuentas Controladas a reconocer y dar curso a las instrucciones impartidas por el Apoderado Especial Bancario conforme a esta acta, el Acuerdo y el Addendum, y se ordena a Tesorería de Helios no instruir operaciones sobre la Cuenta de Recaudo Controlada o la Cuenta DSRA que contravengan el waterfall o que no cuenten con la aprobación del apoderado.

##### NOVENA - Prohibición respecto de Cuentas Controladas y limitación de facultades bancarias.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) El Representante Legal, administradores, tesorería y cualquier funcionario de Helios no podrán instruir, autorizar, ejecutar, modificar perfiles o firmantes ni disponer de fondos en la Cuenta de Recaudo Controlada o la

Cuenta DSRA salvo mediante el flujo maker-checker y con aprobación y ejecución del Apoderado Especial Bancario.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Las entidades financieras deberán rechazar instrucciones que no cumplan con el flujo anterior; la Sociedad ratifica que tales instrucciones no la obligan y autoriza al Apoderado a exigir su reversión.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Toda actuación en contravención de esta cláusula es ineficaz internamente; la Sociedad y sus funcionarios deberán revertir cualquier operación realizada y reportarla a Energea en un plazo de un (1) día hábil.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Para claridad: esta restricción aplica exclusivamente a la Cuenta de Recaudo Controlada y la Cuenta DSRA. Las cuentas operativas de Helios, financiadas con recursos liberados conforme al *waterfall*, no están sujetas a las

restricciones de esta Resolución y Helios mantiene plena autonomía sobre su operación.

##### DÉCIMA - Condición para apertura y operación de Cuentas Controladas.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) La apertura de cualquier cuenta que sea designada como Cuenta Controlada requerirá, como condición, la configuración de perfiles de e-banking maker-checker y el registro del Apoderado Especial Bancario como

checker/aprobador.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Hasta tanto no se cumplan dichas condiciones, la cuenta se considerará no operativa y no podrá recibir ni efectuar débitos, transferencias o pagos.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Cuando el banco exija la firma del Representante Legal para apertura, dicha firma será meramente formal y no confiere facultades operativas fuera del flujo maker-checker.

##### UNDÉCIMA - Consistencia con el Addendum.
Esta Resolución se otorga en cumplimiento de la Sección 9.3(c) del Addendum No. 01 al Loan and Security Agreement. Las disposiciones de dormancia, reactivación y terminación contenidas en la Resolución CUARTA se interpretarán de manera consistente con la Sección 9.6 del Addendum. En caso de inconsistencia entre esta Resolución y el Acuerdo o el Addendum, prevalecerán las disposiciones del Acuerdo y del Addendum. Los términos definidos en el Acuerdo y el Addendum tendrán el mismo significado cuando se utilicen en esta Resolución.

--------------------

No siendo otros los asuntos por tratar, se aprueba el contenido de la presente acta y se firma en la ciudad de [•], a los [•] días del mes de [•] de [•]. *V. Firma*

#### POR LA ASAMBLEA DE ACCIONISTAS DE HELIOS ENERGÍA S.A.S. E.S.P.
Firma:<u> </u>

Nombre: [•] Cargo: [•] Identificación: [•]

-------------------- *ANEXO 1 - Aceptación del Apoderado Especial Bancario*

Yo, [•], identificado(a) con [•], acepto el nombramiento conferido en la presente acta como Apoderado Especial Bancario de Helios Energía S.A.S. E.S.P., y declaro conocer y acatar sus límites, vigencia, exclusiones, dormancia, reactivación y la sujeción al Loan and Security Agreement, al Addendum No. 01, al waterfall, al esquema maker-checker y a las Cartas de Instrucciones.

Acepto que mis facultades se limitan exclusivamente a la Cuenta de Recaudo Controlada (Revenue Controlled Account) y a la Cuenta DSRA (DSRA Controlled Account), y que no tengo representación legal general de la Sociedad.

Firma:<u> </u> • Fecha:<u> </u> • Email/Tel:<u> </u>

--------------------

 *ANEXO 2 - Parámetros Operativos Mínimos (Checklist de activación)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Cuentas sujetas al poder:** (a) Cuenta de Recaudo Controlada - banco: [•], número: [•], sucursal: [•]; (b) Cuenta DSRA - banco: [•], número: [•], sucursal: [•].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. Perfiles de e-banking:** maker (Tesorería Helios) / checker (Apoderado Especial Bancario).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. Límites y reglas:** montos por nivel, cut-off times, autenticación de dos factores, reporte diario a [• correo(s)].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. Cartas de Instrucciones:** firmadas por Representante Legal de Helios y Apoderado, entregadas a cada banco.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. Comprobantes del banco:** (i) rol checker activo para el Apoderado; (ii) bloqueo de ejecuciones sin checker; (iii) prueba de rechazo a instrucción sin aprobación del checker.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.Cuentas operativas:** Confirmar que las cuentas operativas de Helios (no sujetas a este poder) están debidamente separadas y que los perfiles de e-banking de dichas cuentas NO incluyen al Apoderado Especial Bancario como

checker.

-------------------- *ANEXO 3 - Soportes del Accionista / Shareholders Support Documents*

Los siguientes documentos deberán acompañar esta Acta para efectos de inscripción en Cámara de Comercio y para verificación por Energea:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Certificado de Existencia y Representación Legal** expedido por la Cámara de Comercio competente, con vigencia no mayor a treinta (30) días calendario.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. Copia del documento de identidad** del(de los) accionista(s) y del Representante Legal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. Composición accionaria** certificada vigente (Libro de Registro de Accionistas o certificación del Representante Legal).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. Poder otorgado al Apoderado** (si es persona distinta del designado en esta acta, incluir cadena de poderes).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. Certificación de cumplimiento AML/KYC** del Apoderado Especial Bancario, según requerido por las entidades financieras.

 *SCHEDULE 4-A LEGACY TRADE PAYABLES*

###### RELACIÓN DE CUENTAS POR PAGAR COMERCIALES PREEXISTENTES
Addendum No. 01 to the Loan and Security Agreement dated January 22, 2025 Energea Portfolio 5 LATAM LP / Helios Energía S.A.S. E.S.P.

This Schedule is delivered pursuant to Section 3.1.7(a) of Addendum No. 01 (the "Addendum") to the Loan and Security Agreement, dated as of January 22, 2025 (the "Agreement"), by and between Energea Portfolio 5 LATAM LP ("Energea") and Helios Energía S.A.S. E.S.P. ("Helios"). All capitalized terms used but not defined herein shall have the meanings ascribed to them in the Agreement and the Addendum.

Helios hereby certifies that the following is a complete and accurate list of all Legacy Trade Payables (as defined in Section 3.1.7(a) of the Addendum) outstanding as of the date of this Addendum, being all trade payables to vendors, contractors, and service providers that arose prior to the date of the Addendum and that are not classified as Indebtedness under Section 1.73 for purposes of the mandatory repayment or subordination obligation under Section 3.1.6.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br> **Creditor Name**<br> *Nombre del Acreedor* | <br> **NIT / Tax ID**<br> *NIT / Identificación* | &nbsp;&nbsp;&nbsp;&nbsp; **Amount Outstanding (USD)**<br> *Monto Pendiente (USD)* | <br> **Nature of Obligation**<br> *Naturaleza de la Obligación* | &nbsp;&nbsp;&nbsp; <br> **Invoice / Due Date** *Fecha Factura / Vencimiento* | **Aging B**<br> **D**<br> *Rango de A*<br> *D* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL / TOTAL:** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL / TOTAL:** | **USD**<br> **[ ]** |  |  |  |

---

#### NOTES / NOTAS
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Aging Bracket / *Rango de Antigüedad***: Indicate the number of days elapsed since the original due date or invoice date, in 30-day brackets: Current (0-30), 31-60, 61-90, 91-120, 121-180, 181-360, Over 360.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **Subordination Status / *Estado de Subordinación***: Indicate one of the following: (a) "Subordinating Vendor" - creditor has executed a subordination acknowledgment per Section 3.1.7(d); (b) "Non-Subordinating Vendor" - creditor has not executed a subordination acknowledgment; or (c) "Pending" - subordination acknowledgment has

been requested but not yet received.

&nbsp;&nbsp;&nbsp;&nbsp;3. **Nature of Obligation / *Naturaleza de la Obligación***: Briefly describe the underlying goods or services (e.g., EPC installation, equipment supply, maintenance services, consulting, logistics, office lease).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. If additional rows are required, attach continuation pages in the same format and reference them as "Schedule 4-A (cont.)" with sequential page numbers. Each continuation page must be initialed by all parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. This Schedule shall be updated and redelivered to Energea together with each Monthly Report delivered under Section 5.2.1(c), reflecting payments made, aging changes, and subordination status updates, until all Legacy Trade

Payables have been fully extinguished (per Section 3.1.7(g)).

#### CERTIFICATION / CERTIFICACIÓN
Helios hereby certifies that this Schedule 4-A is true, correct, and complete in all material respects as of the date set forth below, and that no Legacy Trade Payable has been omitted. Helios further certifies that the aging information provided herein is accurate and that the subordination status of each creditor is current.

#### HELIOS ENERGÍA S.A.S. E.S.P.
By:<u> </u> Name:<u> </u> Title:<u> </u> Date:<u> </u>

#### ACKNOWLEDGED BY: ENERGEA PORTFOLIO 5 LATAM LP
By:<u> </u> Name:<u> </u> Title:<u> </u> Date:<u> </u>

 *SCHEDULE 6-A*

#### FORM OF SUPPLIER SUBORDINATION ACKNOWLEDGMENT
*ANEXO 6-A - MODELO DE RECONOCIMIENTO DE SUBORDINACIÓN DE PROVEEDORES*

Addendum No. 01 to the Loan and Security Agreement dated January 22, 2025 Energea Portfolio 5 LATAM LP / Helios Energía S.A.S. E.S.P.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **SCHEDULE 6-A** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **ANEXO 6-A** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FORM OF SUPPLIER SUBORDINATION ACKNOWLEDGMENT** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **MODELO DE RECONOCIMIENTO DE SUBORDINACION DE PROVEEDORES** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **PARTIES / PARTES** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **PARTES** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Supplier (the "Supplier"):**<br> Name: [•]<br> NIT: [•]<br> Address: [•]<br> Legal Representative: [•] | &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; **Proveedor (el "Proveedor"):**<br> Nombre: [•] NIT: [•]<br> Dirección: [•] Representante Legal: [•] |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Borrower:**<br> Helios Energía S.A.S. E.S.P. NIT: [•] | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Deudor:**<br> Helios Energía S.A.S. E.S.P. NIT: [•] |
| &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; **Senior Creditor:**<br> Energea Portfolio 5 LATAM LP (the "Senior Creditor" or "Energea") | &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; **Acreedor Senior:** Energea Portfolio 5 LATAM LP (el "Acreedor Senior" o "Energea") |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **RECITALS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **CONSIDERANDOS** |
| &nbsp;&nbsp;&nbsp; WHEREAS, Energea and Helios are parties to a Loan and Security Agreement dated January 22, 2025 (as amended by Addendum No. 01, the "Agreement"), under which Energea holds a first-priority secured claim over substantially all assets, revenues, and accounts of Helios; | &nbsp;&nbsp; CONSIDERANDO QUE Energea y Helios son partes de un Loan and Security Agreement de fecha 22 de enero de 2025 (según enmendado por el Addendum No. 01, el "Acuerdo"), bajo el cual Energea tiene un crédito garantizado de primer grado sobre sustancialmente todos los activos, ingresos y cuentas de Helios; |
| &nbsp;&nbsp; WHEREAS, the Supplier maintains a commercial relationship with Helios involving the supply of goods and/or services, and the aggregate outstanding obligations of Helios to the Supplier exceed or are expected to exceed USD 200,000; | &nbsp;&nbsp; CONSIDERANDO QUE el Proveedor mantiene una relación comercial con Helios que involucra el suministro de bienes y/o servicios, y las obligaciones pendientes agregadas de Helios con el Proveedor exceden o se espera que excedan USD 200,000; |
| &nbsp;&nbsp; WHEREAS, Section 5.2.14 of the Agreement (as amended) requires Helios to obtain a subordination acknowledgment from any supplier whose outstanding obligations exceed USD 200,000, as a condition precedent to incurring or maintaining such obligations; | &nbsp;&nbsp;&nbsp; CONSIDERANDO QUE la Sección 5.2.14 del Acuerdo (según enmendado) requiere que Helios obtenga un reconocimiento de subordinación de cualquier proveedor cuyas obligaciones pendientes excedan USD 200,000, como condición precedente para incurrir o mantener dichas obligaciones; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WHEREAS, the Supplier has agreed to execute this Acknowledgment to enable Helios to comply with its obligations under the Agreement; | CONSIDERANDO QUE el Proveedor ha aceptado ejecutar este Reconocimiento para permitir que Helios cumpla con sus obligaciones bajo el Acuerdo; |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **OPERATIVE CLAUSES** | **CLAUSULAS OPERATIVAS** |
| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Subordination of Claims.**<br> The Supplier acknowledges and agrees that all present and future claims against Helios arising from commercial transactions between the Supplier and Helios (including invoices, facturas, purchase orders, deferred payments, guarantees, and any other commercial obligation) are and shall be subordinated in right of payment to all Obligations of Helios to Energea under the Agreement. No payment shall be | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Subordinación de Créditos.**<br> El Proveedor reconoce y acepta que todos los créditos presentes y futuros contra Helios derivados de transacciones comerciales entre el Proveedor y Helios (incluyendo facturas, órdenes de compra, pagos diferidos, garantías y cualquier otra obligación comercial) están y estarán subordinados en derecho de pago a todas las Obligaciones de Helios con Energea bajo el Acuerdo. Ningún pago se realizará al |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; made to the Supplier from any source until all amounts then due and payable to Energea under the Agreement have been fully satisfied, unless such payment is made from amounts lawfully released to Helios after satisfaction of all senior priorities in accordance with the waterfall provisions of the Agreement. | &nbsp;&nbsp;&nbsp; Proveedor de fuente alguna hasta que todas las sumas entonces vencidas y pagaderas a Energea bajo el Acuerdo hayan sido íntegramente satisfechas, salvo que dicho pago se realice con recursos legalmente liberados a Helios tras la satisfacción de todas las prioridades senior conforme a las disposiciones de cascada (waterfall) del Acuerdo. |
| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Waterfall and Controlled Account Recognition.**<br> The Supplier acknowledges the existence of the controlled account structure, the Interim Waterfall (Section 9.4), and the Trust waterfall (once established), and agrees that payments to the Supplier shall only be made from amounts released to Helios after satisfaction of all senior priorities in accordance with such waterfall provisions. The Supplier shall not seek to redirect, intercept, or attach funds in the Revenue Controlled Account, the DSRA Controlled Account (being the Interim Reserve Account as defined in Section 9.1(j) of Addendum No. 01, or the Trust-administered reserve account holding the DSRA following the Trust Effective Date), or any Trust-administered account. | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;**(b) Reconocimiento de Cascada y Cuentas Controladas.**<br> El Proveedor reconoce la existencia de la estructura de cuentas controladas, la Cascada Interina (Sección 9.4) y la cascada del Trust (una vez establecida), y acepta que los pagos al Proveedor solo se realizarán con recursos liberados a Helios tras la satisfacción de todas las prioridades senior conforme a dichas disposiciones de cascada. El Proveedor no buscará redirigir, interceptar ni embargar fondos en la Cuenta de Recaudo Controlada, la Cuenta DSRA (siendo la Cuenta de Reserva Interina según la Sección 9.1(j) del Addendum No. 01, o la cuenta de reserva administrada por el Trust que contiene la DSRA tras la Trust Effective Date), ni en ninguna cuenta administrada por el Trust. |
| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Waiver of Precautionary Measures (Medidas Cautelares).**<br> The Supplier irrevocably waives the right to seek or obtain any precautionary measure (medida cautelar), including *embargos*, *secuestros*, suspension of operations, or any other provisional remedy, against: (i) the Revenue Controlled Account; (ii) the DSRA Controlled Account; (iii) any Trust-administered account; or (iv) any other account or asset subject to Energea's security interest, in connection with any claim arising from commercial transactions with Helios. This waiver extends to *proceso ejecutivo* proceedings under Law 1231 of 2008 and shall be effective notwithstanding that the Supplier may hold instruments with *merito ejecutivo*. The Supplier further waives any right to initiate, join, or participate in any *terceria de mejor derecho* or other priority dispute proceeding against any asset, receivable, or account subject to Energea's security interest under the Agreement, and acknowledges that Energea's claims rank senior to all claims of the Supplier in any such proceeding. | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Renuncia a Medidas Cautelares.**<br> El Proveedor renuncia irrevocablemente al derecho de solicitar u obtener cualquier medida cautelar, incluyendo embargos, secuestros, suspensión de operaciones o cualquier otra medida provisional, contra: (i) la Cuenta de Recaudo Controlada; (ii) la Cuenta DSRA; (iii) cualquier cuenta administrada por el Trust; o (iv) cualquier otra cuenta o activo sujeto a la garantía de Energea, en relación con cualquier reclamación derivada de transacciones comerciales con Helios. Esta renuncia se extiende a procesos ejecutivos bajo la Ley 1231 de 2008 y será efectiva no obstante que el Proveedor pueda tener instrumentos con mérito ejecutivo. El Proveedor renuncia adicionalmente a cualquier derecho de iniciar, participar o coadyuvar en cualquier tercería de mejor derecho u otro proceso de disputa de prelación contra cualquier activo, cuenta por cobrar o cuenta sujeta a la garantía de Energea bajo el Acuerdo, y reconoce que los créditos de Energea tienen prelación sobre todos los créditos del Proveedor en cualquier procedimiento de esa naturaleza. |
| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) No Acceleration or Diversion.**<br> The Supplier agrees not to: (i) accelerate or demand immediate payment of any obligation in a manner that would divert funds from the waterfall; (ii) take any action that would impair the DSRA or any Controlled Account; (iii) take any action that would trigger a cross-default under the Agreement; or (iv) interfere with Energea's security interest or the controlled account structure. | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) No Aceleración ni Desvío.**<br> El Proveedor se compromete a no: (i) acelerar ni exigir el pago inmediato de cualquier obligación de manera que desviaría fondos de la cascada; (ii) tomar cualquier acción que afectaría la DSRA o cualquier Cuenta Controlada; (iii) tomar cualquier acción que activaría un incumplimiento cruzado bajo el Acuerdo; o (iv) interferir con la garantía de Energea o la estructura de cuentas controladas. |
| &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;**(e) Survival.**<br> This Acknowledgment shall survive the termination or expiration of the underlying commercial contracts between the Supplier and Helios and shall remain in full force and effect until all Obligations under the Agreement have been satisfied in full and Energea has issued a Release Notice. | &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;**(e) Supervivencia.**<br> Este Reconocimiento sobrevivirá a la terminación o expiración de los contratos comerciales subyacentes entre el Proveedor y Helios y permanecerá en pleno vigor y efecto hasta que todas las Obligaciones bajo el Acuerdo hayan sido íntegramente satisfechas y Energea haya emitido un Release Notice. |
| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) Applicable Law and Dispute Resolution.**<br> This Acknowledgment shall be governed by the laws of the Republic of Colombia. Any dispute arising under or in connection with this Acknowledgment shall first be submitted to the conciliation center of the *Camara de Comercio de Bogota* for a period not exceeding thirty (30) calendar days. If | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) Ley Aplicable y Resolucion de Controversias.** Este Reconocimiento se regira por las leyes de la Republica de Colombia. Cualquier controversia que surja en relacion con este Reconocimiento sera sometida primero al centro de conciliacion de la Camara de Comercio de Bogota por un<br> periodo no mayor a treinta (30) dias calendario. De no |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; not resolved, the dispute shall be submitted to binding arbitration before the *Centro de Arbitraje y Conciliacion de la Camara de Comercio de Bogota,* under a panel of one (1) arbitrator applying Colombian substantive law; proceedings shall be conducted in Spanish. Notwithstanding the foregoing, Energea retains the right to pursue enforcement of its security interest under the Agreement in any court of competent jurisdiction. | &nbsp;&nbsp; resolverse, la controversia sera sometida a arbitraje vinculante ante el Centro de Arbitraje y Conciliacion de la Camara de Comercio de Bogota, ante un panel de un (1) arbitro aplicando derecho sustantivo colombiano; el proceso se conducira en espanol. No obstante lo anterior, Energea conserva el derecho de ejercer la ejecucion de su garantia bajo el Acuerdo ante cualquier tribunal competente. |
| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g) Independent Legal Advice.**<br> The Supplier confirms that it has received independent legal counsel regarding the terms and implications of this Acknowledgment, including the subordination of its claims, the waiver of precautionary measures, and the legal effects under Colombian law. The Supplier executes this Acknowledgment voluntarily and without duress. | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g) Asesoría Legal Independiente.**<br> El Proveedor confirma que ha recibido asesoría legal independiente respecto de los términos e implicaciones de este Reconocimiento, incluyendo la subordinación de sus créditos, la renuncia a medidas cautelares y los efectos jurídicos bajo la ley colombiana. El Proveedor ejecuta este Reconocimiento voluntariamente y sin coacción. |
| &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;**(h) Insolvency Persistence.**<br> This subordination and all waivers contained herein shall survive and remain in full force and effect in any insolvency, reorganization, liquidation, or similar proceeding under Law 1116 of 2006 or any successor statute. In any *calificacion y graduacion de creditos*, the Supplier's claims shall be classified as subordinated to all Obligations owed to Energea under the Agreement. The Supplier shall not vote in favor of, or otherwise support, any reorganization plan that does not preserve Energea's senior priority in full. | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(h) Persistencia en Insolvencia.**<br> Esta subordinacion y todas las renuncias contenidas en el presente sobreviviran y permaneceran en pleno vigor y efecto en cualquier proceso de insolvencia, reorganizacion, liquidacion o procedimiento similar bajo la Ley 1116 de 2006 o cualquier norma que la sustituya. En cualquier calificacion y graduacion de creditos, los creditos del Proveedor seran clasificados como subordinados a todas las Obligaciones adeudadas a Energea bajo el Acuerdo. El Proveedor no votara a favor ni apoyara de otra forma ningun plan de reorganizacion que no preserve integramente la prelacion senior de Energea. |
| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i) Independent Trilateral Agreement.**<br> This Acknowledgment constitutes an independent trilateral agreement among the Supplier, Helios, and Energea and creates direct rights in favor of Energea as third-party beneficiary, notwithstanding Section 8.1.4 of the Loan and Security Agreement. Energea may enforce the terms hereof directly against the Supplier without the prior consent of Helios. | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i) Acuerdo Trilateral Independiente.**<br> Este Reconocimiento constituye un acuerdo trilateral independiente entre el Proveedor, Helios y Energea, y crea derechos directos a favor de Energea como tercero beneficiario, no obstante lo dispuesto en la Seccion 8.1.4 del Loan and Security Agreement. Energea podra hacer valer los terminos del presente directamente contra el Proveedor sin el consentimiento previo de Helios. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **SIGNATURES** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FIRMAS** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **SUPPLIER:**<br> By:<u> </u><br> Name: [•]<br> Title: [•]<br> Date:<u> </u> | &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; **PROVEEDOR:**<br> Firma:<u> </u><br> Nombre: [•] Cargo: [•]<br> Fecha:<u> </u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **HELIOS ENERGÍA S.A.S. E.S.P.:**<br> By:<u> </u><br> Name: [•]<br> Title: [•]<br> Date:<u> </u> | &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; **HELIOS ENERGÍA S.A.S. E.S.P.:**<br> Firma:<u> </u><br> Nombre: [•] Cargo: [•]<br> Fecha:<u> </u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **ACKNOWLEDGED AND ACCEPTED AS THIRD-PARTY BENEFICIARY:**<br> ENERGEA PORTFOLIO 5 LATAM LP<br> By:<u> </u><br> Name: [•]<br> Title: [•]<br> Date:<u> </u> | &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; **RECONOCIDO Y ACEPTADO COMO TERCERO BENEFICIARIO:**<br> ENERGEA PORTFOLIO 5 LATAM LP<br> Firma:<u> </u><br> Nombre: [•] Cargo: [•]<br> Fecha:<u> </u> |

---

 *ANNEX A - SCHEDULE OF OUTSTANDING OBLIGATIONS*

###### ANEXO A - RELACIÓN DE OBLIGACIONES PENDIENTES

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| | | | | |
|:---|:---|:---|:---|:---|
| **Invoice No. / No. Factura** | &nbsp;&nbsp;&nbsp;&nbsp; **Amount (USD) / Monto (USD)** | &nbsp;&nbsp; **Invoice Date / Fecha Factura** | &nbsp;&nbsp;&nbsp;&nbsp; **Due Date / Fecha Vencimiento** | &nbsp;&nbsp;&nbsp; **Payment Terms / Condiciones de Pago** |
| [•] | [•] | [•] | [•] | &nbsp;&nbsp;&nbsp; [•] |
| [•] | [•] | [•] | [•] | &nbsp;&nbsp;&nbsp; [•] |
| **TOTAL / TOTAL:** | **USD [•]** |  |  |  |

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**Note:** *If additional rows are required, attach continuation pages in the same format and reference them as "Annex A (cont.)" with sequential page numbers. Each continuation page must be initialed by all parties.*

**Nota:** *Si se requieren filas adicionales, adjuntar paginas de continuacion en el mismo formato y referenciarlas como "Anexo A (cont.)" con paginas numeradas secuencialmente. Cada pagina de continuacion debera ser rubricada por todas las partes.*

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 1-A

### REGULATION A OFFERING STATEMENT
### UNDER THE SECURITIES ACT OF 1933

### Item 1. Issuer Information

**Exact name of issuer:** Energea Portfolio 5 LATAM LP

**Jurisdiction of Incorporation/Organization:** DE

**Year of Incorporation:** 2023

**CIK:** 0001993443

**I.R.S. Employer Identification Number:** 93-2777221

**Primary Standard Industrial Classification Code:** 4911

**Total number of full-time employees:** 0

**Total number of part-time employees:** 0

**Address of Principal Executive Offices:** 52 MAIN STREET, —, CHESTER, CT 06412

**Company Phone:** 860-575-5440

**Person to contact:** Kathleen Koser

### Financial Statements

**Balance Sheet Information**

| Metric                                   | Amount    |
|:---|:---|
| Cash and Cash Equivalents                | $39739.00 |
| Investment Securities                    | $0.00     |
| Accounts and Notes Receivable            | $26586.00 |
| Property, Plant and Equipment (PP&E)     | $0.00     |
| Total Assets                             | $66325.00 |
| Accounts Payable and Accrued Liabilities | $11190.00 |
| Long-Term Debt                           | $0.00     |
| Total Liabilities                        | $11190.00 |
| Total Stockholders' Equity               | $55135.00 |
| Total Liabilities and Equity             | $66325.00 |

**Statement of Comprehensive Income Information**

| Metric                                    | Amount     |
|:---|:---|
| Total Revenues                            | $0.00      |
| Costs and Expenses Applicable to Revenues | $44665.00  |
| Depreciation and Amortization             | $0.00      |
| Net Income                                | $-44665.00 |
| Earnings Per Share - Basic                | 0.00       |
| Earnings Per Share - Diluted              | 0.00       |

**Auditor Information**

| Metric          | Amount        |
|:---|:---|
| Name of Auditor | Whittlesey PC |

### Outstanding Securities

| Class                   |   Outstanding | CUSIP   | Publicly Traded   |
|:---|---:|:---|:---|
| Common Shares           |       1000000 | n/a     | n/a               |
| Class A Investor Shares |       3448351 | n/a     | n/a               |
|  |             0 |  |  |

### Item 2. Issuer Eligibility
- [x] The issuer certifies that all of the statements in this part are true.

### Item 3. Application of Rule 262
- [x] The issuer certifies that it is not disqualified and has not been involved in any disqualifying event.

### Item 4. Summary Information Regarding the Offering

**Tier:** Tier2

**Financial Statement Status:** Audited

**Type of Securities Offered:** Equity (common or preferred stock)

**Is this a delayed or continuous offering?** Yes

**Was or is the offering to take place within one year after qualification?** Yes

**Was or is the offering to commence within two days after qualification?** No

**Is this a best efforts offering?** Yes

**Was there any solicitation of interest?** No

**Are there any resale securities by affiliates of the issuer?** No

**Offering Amounts**

| Description                                                     | Amount       |
|:---|:---|
| Number of securities offered                                    | 50000000     |
| Number of securities outstanding                                | 169150       |
| Price per security                                              | $1.15        |
| Issuer's aggregate offering price                               | $50000000.00 |
| Aggregate offering price of securities held by security holders | $0.00        |
| Aggregate price of securities offered concurrently              | $0.00        |
| Total aggregate offering price                                  | $50000000.00 |

**Anticipated Fees**

| Service Provider   | Name                         | Fees      |
|:---|:---|:---|
| Auditor            | Whittlesey PC                | $12750.00 |
| Legal              | Norton Rose Fulbright US LLP | $30000.00 |
| Promoters          |  |  |

**Estimated Net Proceeds to the Issuer:** —

### Item 5. Jurisdictions in Which Securities are to be Offered

- All States and Territories