Document:

EX-10.05

 Exhibit 10.05 

MEMORANDUM OF UNDERSTANDING 
 This
Memorandum of Understanding (the “MOU”) is made and entered into by and between the parties detailed in the final section of this MOU. Either party may be hereinafter referred to individually as the “Party” and
jointly as the “Parties”. 
  

	1.	The Parties recognize that they have different positions with regard to several matters derived from their contract relationships and that the execution of this MOU shall in no way imply the waiver and limitation of the
rights that each Party considers to hold in connection with any matter or issue not regulated by this MOU, nor the acceptance or recognition of the position of the other Party in that connection. 

 

	2.	The purpose of this MOU is for the Parties to make a declaration of intent and to undertake to sign the documents necessary to implement the agreements contained herein and from which the essential elements of this MOU
derive. Accordingly, it is understood that this MOU is binding on the Parties. 

  

	3.	In this regard, the Parties acknowledge and agree as follows: 

  

	 	3.1	The Parties undertake, through their participation in the Shareholders’ Meeting of GSP or in a potential Creditors’ Meeting, to ensure that GSP will not execute with the Peruvian State any agreement that
establishes that the total payment of the amounts resulting from the application of Section 20 of the Concession Agreement or any other legal provision must be less than 72.25% of the Net Book Value defined in the report prepared by the
auditing firm Deloitte, represented in Peru by Gris y Asociados, S. Civil de R.L. 

  

	 	3.2	The credit rights held by the Odebrecht Group against GSP arising from the payments made to the Bridge Lenders and CHUBB as from January 24, 2017 shall have the same order of priority as the credit rights held by
the Enagás Group and the Graña y Montero Group for the same reasons. Consequently, the above-mentioned credit rights held by the Odebrecht Group shall not be subject to subordination or assignment in favor of the Enagás and
Graña y Montero Groups. 

  

	 	3.3	The Parties undertake to vote, in the Shareholders’ Meeting in which the appointment of the new General Manager will be discussed, for an independent legal entity that is unanimously accepted by the Parties and
that is one of the “big four” companies or an investment bank or a renowned company with experience in the management of companies undergoing liquidation. The powers of the new General Manager shall be unanimously approved by the Parties,
with the participation of the new General Manager. 

 With regard to GSP’s system of powers, it is agreed to maintain the
current system of powers until it is modified by unanimous decision of the Parties. 
  

	 	3.4	The Parties state that they desire that the concession assets that have been subject to valuation and approved by GSP and Consorcio Supervisor del Sur (“CSS”) be immediately delivered in possession to the
Ministry of Energy and Mines for custody and conservation purposes. If any of such properties is in the possession of a third party, the pertinent instruction shall be issued, so that such assets are delivered in possession directly to the Ministry
of Energy and Mines. 

 For the above purpose, simultaneously with the execution of this MOU, a Shareholders’
Meeting shall be held with the attendance of 100% of the shareholders in order to approve such delivery, signing the certificate attached hereto as Exhibit 1 to this MOU for its submission to the Ministry of Energy and Mines. Furthermore, in such
Shareholders’ Meeting, a representative of each Party shall be appointed so that they can carry out any and all acts necessary to complete the delivery of the concession assets to the Ministry of Energy and Mines. 

In the same Shareholders’ Meeting, the 2016 Financial Statements shall also be approved. 

 

	 	3.5	This MOU shall be governed by the laws of the Republic of Peru. 

  

	 	3.6	None of the legal effects, whether direct or indirect, derived from this MOU shall take place until satisfaction of the following two conditions precedent: (i) the Ministry of Energy and Mines shall sign the
certificate of delivery of the concession assets in accordance with Exhibit 1 to this MOU or any other certificate acceptable to the Parties; and (ii) this MOU shall be signed by the three shareholders of GSP. 

 

	 	3.7	Any dispute, claim, conflict of interest, legal uncertainty or payment request that may arise in connection with the execution, interpretation and/or performance of this MOU shall be submitted to the knowledge and
decision of three (3) arbitrators. Two (2) of them shall be appointed by the Parties in conflict (one by each Party). The third arbitrator shall be appointed by the two (2) arbitrators chosen by the Parties, and shall preside the
arbitration tribunal (the “Arbitration Tribunal”). 

 The arbitration proceeding shall be governed by the following
provisions: 
  

	 	i.	Subject to the provisions of the following paragraph, the Party sending a notice requesting that the dispute be submitted to arbitration shall include the appointment of its arbitrator in such notice. The other Party
shall, within a term of ten (10) calendar days following receipt of each notice, appoint its arbitrator and notify the other Party of such appointment. If the respective arbitrator is not appointed, the Party initiating the arbitration shall
have the right to request the Arbitration Center of the American Chamber of Commerce of Peru to appoint the second arbitrator. 

If there are more than two (2) Parties in conflict, the three (3) arbitrators shall be appointed by the American Chamber of Commerce
of Peru. 
  

	 	ii.	Arbitration shall be de jure and shall be conducted in the city of Lima and in Spanish. 

	 	iii.	The arbitration award rendered by the Arbitration Tribunal shall be final and binding. Consequently, the Parties expressly waive their right to file an appeal. The award issued by the Arbitral Tribunal may only be
rendered null in those cases contemplated in the Governing Law. In that event, the judges and courts in and for the city of Lima shall be competent. 

  

	 	iv.	The expenses derived from arbitration shall be paid by the Parties as established by the Arbitration Tribunal. All matters related to this arbitration agreement and/or arbitration that are not regulated by this clause
shall be governed by Legislative Decree 1071. 

  

	 	v.	The Parties agree that the current lack of determination of the eventual and unlikely dispute that would be submitted to arbitration may not be invoked by either of the Parties to assert that this clause is not an
arbitration agreement. 

  

	 	vi.	In those cases where the supplementary intervention of the Judiciary is required, the Parties expressly submit to the jurisdiction of the judges in and for the Judicial District of Lima and waive the jurisdiction of
their domiciles, if different. 

 [SIGNATURE PAGE OF THE MEMORANDUM OF UNDERSTANDING] 

In witness whereof, this MOU has been executed in six (6) counterparts. 

Lima, September 26, 2017 
 On behalf of Graña y
Montero S.A.A. 
 - /s/ Mónica María Miloslavich Hart / Fingerprint 

- /s/ Luis Francisco Díaz Olivero / Fingerprint 
 On
behalf of Negocios de Gas S.A. 
 - /s/ Mónica María Miloslavich Hart / Fingerprint 

- /s/ Luis Francisco Díaz Olivero / Fingerprint 
 On
behalf of Enagás S.A. 
 - /s/ Pedro Martín-Ondarza González / Fingerprint 

- /s/ José Antonio de las Heras Alonso / Fingerprint 

On behalf of Odebrecht S.A. 
 - /s/ Mauricio Cruz Lopes /
Fingerprint 
 - /s/ Oscar Eduardo Salazar Chiappe / Fingerprint 

On behalf of Inversiones en Infraestructura de Transporte por Ductos S.A.C. 

- /s/ Mauricio Cruz Lopes / Fingerprint 
 - /s/ Oscar Eduardo
Salazar Chiappe / Fingerprint 
  

NOTARIZATION ON THE REVERSE SIDE HEREOF 
 WILLIAM LEONCIO CAJAS
BUSTAMANTE NOTARY’S OFFICE 
  

 WILLIAM LEONCIO CAJAS BUSTAMANTE 

ATTORNEY-AT-LAW AND NOTARY’S OFFICE IN AND FOR LIMA 

Malecón Ferreyros 320 – Ancón – Lima 

Next to the Municipality of Ancón 
 Telephone: 552-0020 / Telephone and fax: 552-0252 
 I HEREBY CERTIFY: That
the signatures appearing on the face hereof, and the identities of the signatories, are the true, proper and respective handwriting, and identities, of the following persons: MÓNICA MARÍA MILOSLAVICH HART, holder of National Identity
Card (DNI) 10545024, acting on behalf of GRAÑA Y MONTERO S.A.A. and NEGOCIOS DE GAS S.A.; LUIS FRANCISCO DÍAZ OLIVERO, holder of National Identity Card (DNI) 07872756, acting on behalf of GRAÑA Y MONTERO S.A.A. and NEGOCIOS DE
GAS S.A.; PEDRO MARTÍN-ONDARZA GONZÁLEZ, holder of Foreign Resident Card (CE) 001232975, a Spanish citizen, acting on behalf of ENAGÁS S.A.; JOSÉ ANTONIO DE LAS HERAS ALONSO, holder
of Foreign Resident Card (CE) 001511558, a Spanish citizen, acting on behalf of ENAGÁS INTERNACIONAL SLU; MAURICIO CRUZ LOPES, holder of Foreign Resident Card (CE) 00155121, a Brazilian citizen, acting on behalf of ODEBRECHT S.A. and
INVERSIONES EN INFRAESTRUCTURA DE TRANSPORTE POR DUCTOS S.A.C.; OSCAR EDUARDO SALAZAR CHIAPPE, holder of National Identity Card (DNI) 10866908, acting on behalf of ODEBRECHT S.A. and INVERSIONES EN INFRAESTRUCTURA DE TRANSPORTE POR DUCTOS S.A.C.
This certification has been made by performing the biometric verification on the intervening parties against the database of the National Registry of Identification and Vital Statistics (RENIEC) and accessing the database of the Peruvian Immigration
Superintendence; to which I attest. 
 Lima, September 26, 2017 

/s/ William Leoncio Cajas Bustamante 
 Attorney-at-Law and Notary Public in and for Lima 

 Exhibit 1: Draft Certificate of Delivery of Concession Assets 

AGREEMENT FOR THE DELIVERY IN POSSESSION OF THE CONCESSION ASSETS 

This Agreement for the Delivery in Possession of the Concession Assets (hereinafter, the “Agreement”) is made and entered into by and between: 

 

	a)	The Ministry of Energy and Mines (“MEM”), domiciled at Av. Las Artes Sur No. 260, District of San Borja, Province and Department of Lima, acting by and through the undersigned officer, pursuant to the
resolution stated under his signature; and 

  

	b)	Gasoducto Sur Peruano S.A. (“GSP”), identified by Taxpayer ID Number (RUC) 20563236354, with registered office at Av. Víctor Andrés Belaunde No. 280, Oficina No. 601, District of San
Isidro, Province and Department of Lima, acting by and through the undersigned representatives. 

 For the purposes hereof, the MEM and GSP
may be hereinafter, either individually or jointly, as applicable, referred to as the “Parties” or the “Party”. 
 The terms and
conditions agreed upon by the Parties herein are as follows: 
 Section One: Recitals 

 

	a)	On July 23, 2014, the MEM (as Grantor) and GSP (as Concessionaire) executed the Concession Agreement (hereinafter, the “Concession Agreement”) of the project named “Improvements to the
Country’s Energy Security and Development of the Sur Peruano Gas Pipeline” (hereinafter, the “Project”). 

  

	b)	On January 24, 2017, by Official Letter No. 145-2017-MEM-DGH, the MEM, under the provisions of
subsection 6.7 of the Concession Agreement, declared the early termination of the Concession. 

  

	c)	On January 31, 2017, Emergency Decree No. 001-2017 (hereinafter, the “Decree”) was approved. 

Section Two: Purpose 
  

	1)	The Parties recognize that they have different positions with regard to the regime applicable to the early termination of the Concession. 

 

	2)	The execution of this Agreement shall in no way imply the waiver and limitation of the rights that each Party considers to hold, nor the acceptance or recognition of the position of the other Party, in connection with
the regime applicable to the early termination of the Concession. In this regard, any reference herein to the Decree does not imply that GSP accepts that the early termination of the Concession is regulated by such regulatory instrument or other
legal provisions. 

  

	3)	No provision hereof may be construed as an amendment to the clauses of the Concession Agreement. 

	4)	Without prejudice to the provisions of the preceding items, the Parties agree upon the operating mechanism to be followed for the delivery in possession of the assets referred to in the Decree under the following terms:

  

	 	i.	GSP shall deliver the possession of the assets to the MEM. 

  

	 	ii.	The MEM shall receive the assets, in possession, for custody and conservation purposes, through Estudios Técnicos S.A.S. (the “Administrator”), which is the administration company engaged by
OSINERGMIN in application of the provisions of the Decree, within the framework of the private investment promotion process in charge of PROINVERSION. 

  

	 	iii.	Within a term not to exceed seven (7) calendar days after execution of this document, GSP and the Administrator shall agree on a detailed schedule for the delivery of the assets. The delivery may not occur later
than forty-five (45) calendar days. 

  

	 	iv.	As part of this process, upon execution of this document, GSP shall deliver to the MEM the engineering studies prepared for the development of the project. 

 

	 	v.	GPS authorizes the MEM to use the engineering studies prepared for the development of the project, referred to in the foregoing paragraph, and any other information that may be furnished to it, free of charge, for the
purposes stated in point ii of this subsection 4). 

  

	 	vi.	As from the receipt of the assets, the MEM, through the Administrator, shall assume the respective possession, custody, ordinary maintenance and hiring of insurance, and shall bear the costs derived therefrom in its
capacity as the possessor of such assets. 

 In witness whereof, this Agreement has been executed in two (2) identical counterparts this
[*] day of [*], 2017. 
 (several illegible signatures) 

 REGISTRO NACIONAL DE IDENTIFICACIÓN Y ESTADO CIVIL – RENIEC 

(NATIONAL REGISTRY OF IDENTIFICATION AND VITAL STATISTICS – RENIEC) 

(Barcode) 
 Serial number
0034127518 
 WILLIAM LEONCIO CAJAS BUSTAMANTE NOTARY’S OFFICE 

BIOMETRIC IDENTIFICATION AND AUTHENTICATION SERVICE 
  

							
	(PHOTOGRAPH)	  	PERSONAL DETAILS	  	
	  	Id Card (DNI)	  	10545024	  	
	  	First Last Name	  	MILOSLAVICH	  	
	  	Second Last Name	  	HART	  	
	  	Names	  	MÓNICA MARÍA	  	

 FINGERPRINT CORRESPONDS TO DNI 

The first fingerprint captured corresponds to the ID Card (DNI) under consultation. The second fingerprint captured corresponds to the ID Card (DNI) under
consultation. 
 /s/ Mónica María Miloslavich Hart 

ID Card (DNI) 10545024 / Fingerprint 
  

					
	CONSULTED INFORMATION	  	CONSULTATION VERIFICATION	  	
			
	 Operator: 09430050 – William

Leoncio Cajas Bustamante
	  	 The information can be verified on line at:

https://serviciosbiometricos.reniec.gob.pe/identification.do
	  	
			
	 Transaction Date: Sept. 26, 2017

08:40:56
	  	Consultation Number: 0034127518	  	
			
	 Entity: 10094300504 – CAJAS

BUSTAMANTE WILLIAM LEONCIO
	  		  	

 REGISTRO NACIONAL DE IDENTIFICACIÓN Y ESTADO CIVIL – RENIEC 

(NATIONAL REGISTRY OF IDENTIFICATION AND VITAL STATISTICS – RENIEC) 

(Barcode) 
 Serial number
0034127961 
 WILLIAM LEONCIO CAJAS BUSTAMANTE NOTARY’S OFFICE 

BIOMETRIC IDENTIFICATION AND AUTHENTICATION SERVICE 
  

							
	(PHOTOGRAPH)	  	PERSONAL DETAILS	  	
	  	Id Card (DNI)	  	07872756	  	
	  	First Last Name	  	DIAZ	  	
	  	Second Last Name	  	OLIVERO	  	
	  	Names	  	LUIS FRANCISCO	  	

 FINGERPRINT CORRESPONDS TO DNI 

The first fingerprint captured corresponds to the ID Card (DNI) under consultation. The second fingerprint captured corresponds to the ID Card (DNI) under
consultation. 
 /s/ Luis Francisco Díaz Olivero 
 ID
Card (DNI) 07872756 / Fingerprint 
  

					
	CONSULTED INFORMATION	  	CONSULTATION VERIFICATION	  	
			
	 Operator: 09430050 – William

Leoncio Cajas Bustamante
	  	 The information can be verified on line at:

https://serviciosbiometricos.reniec.gob.pe/identification.do
	  	
			
	 Transaction Date: Sept. 26, 2017

09:00:49
	  	Consultation Number: 0034127961	  	
			
	 Entity: 10094300504 – CAJAS

BUSTAMANTE WILLIAM LEONCIO
	  		  	

 SUPERINTENDENCIA NACIONAL DE MIGRACIONES DEL PERÚ 

(PERUVIAN IMMIGRATION SUPERINTENDENCY) 
 Av.
España No. 734 – Breña – Lima 
 Telephone Exchange: 2001000 / Fax: 2001001 

 

					
	 ONLINE CONSULTATIONS
 Foreign Resident
Card
	  	Applicant’s Details	  	
			
	 Enter the requested data in the screen to check your Foreign Resident Card Data, Payment of the Annual Foreigner’s Tax (TAE, for its
acronym in Spanish) and Extension of Residence Time.
  
 SEARCH
RESULTS
 MARTÍN-ONDARZA GONZALEZ,

PEDRO-ANTONIO

NATIONALITY

SPANISH
 DATE OF
BIRTH
 JANUARY 29, 1978
  
	  	 Type of document:
 FOREIGN
RESIDENT CARD (CE)
  
 Number:

001232975
  

Date of Birth:
 JANUARY 29, 1978

 
 Verification code:

N77DK
  

Enter characters:
 —

 
 VERIFY CLEAN

 
	  	
			
	 EXTENSION OF RESIDENCE TIME

YOUR RESIDENCE IS
 IN
FORCE
 FOREIGNER’S TAX (TAE)

TAE IN FORCE
	  	         (illegible signature) / Fingerprint

 
	  	

 NOTE 
 If
your Foreign Resident Card begins with “N”, you need to come to our offices so that we can provide you with further information. 

 SUPERINTENDENCIA NACIONAL DE MIGRACIONES DEL PERÚ 

(PERUVIAN IMMIGRATION SUPERINTENDENCY) 
 Av.
España No. 734 – Breña – Lima 
 Telephone Exchange: 2001000 / Virtual Fax: 2001001 

 

					
	 ONLINE CONSULTATIONS
 Foreign Resident
Card
	  	Applicant’s Details	  	
			
	 Enter the requested data in the screen to check your Foreign Resident Card Data, Payment of the Annual Foreigner’s Tax (TAE, for its
acronym in Spanish) and Extension of Residence Time.
  
 SEARCH
RESULTS
 DE LAS HERAS ALONSO, JOSÉ

ANTONIO

NATIONALITY

SPANISH
 DATE OF
BIRTH
 NOVEMBER 8, 1969
  

EXTENSION OF RESIDENCE TIME

YOUR RESIDENCE IS
 IN
FORCE
 FOREIGNER’S TAX (TAE)

TAE IN FORCE
	  	 Type of document:
 FOREIGN
RESIDENT CARD (CE)
  
 Number:

001511558
  

Date of Birth:
 NOVEMBER 8, 1969

 
 Verification code:

YQZ4N
  

Enter characters:
 —

 
 VERIFY CLEAN

 
  
  

        (illegible signature) / Fingerprint
	  	

 NOTE 
 If
your Foreign Resident Card begins with “N”, you need to come to our offices so that we can provide you with further information. 

 SUPERINTENDENCIA NACIONAL DE MIGRACIONES DEL PERÚ 

(PERUVIAN IMMIGRATION SUPERINTENDENCY) 
 Av.
España No. 734 – Breña – Lima 
 Telephone Exchange: 2001000 / Virtual Fax: 2001001 

 

					
	 ONLINE CONSULTATIONS
 Foreign
Resident Card
	  	Applicant’s Details	  	
			
	 Enter the requested data in the screen to check your Foreign Resident Card Data, Payment of the Annual Foreigner’s Tax
(TAE, for its acronym in Spanish) and Extension of Residence Time.
  

SEARCH RESULTS
 CRUZ
LOPES, MAURICIO
 NATIONALITY

BRAZILIAN
 DATE OF
BIRTH
 JULY 8, 1974
  

AGREEMENT-BASED RESIDENCE

YOUR RESIDENCE IS
 IN
FORCE
 FOREIGNER’S TAX (TAE)

TAE IN FORCE
	  	 Type of document:

FOREIGN RESIDENT CARD (CE)
  

Number:
 000155121

 
 Date of Birth:

JULY 8, 1974
  

Verification code:
 4J43N

 
 Enter characters:

—
  

VERIFY CLEAN
  

 
         (illegible signature) /
Fingerprint
	  	
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

 NOTE 
 If
your Foreign Resident Card begins with “N”, you need to come to our offices so that we can provide you with further information. 

 REGISTRO NACIONAL DE IDENTIFICACIÓN Y ESTADO CIVIL – RENIEC 

(NATIONAL REGISTRY OF IDENTIFICATION AND VITAL STATISTICS – RENIEC) 

(Barcode) 
 Serial number
0034128166 
 WILLIAM LEONCIO CAJAS BUSTAMANTE NOTARY’S OFFICE 

BIOMETRIC IDENTIFICATION AND AUTHENTICATION SERVICE 
  

							
	(PHOTOGRAPH)	  	PERSONAL DETAILS	  	
	  	Id Card (DNI)	  	10866908	  	
	  	First Last Name	  	SALAZAR	  	
	  	Second Last Name	  	CHIAPPE	  	
	  	Names	  	OSCAR EDUARDO	  	

 FINGERPRINT CORRESPONDS TO DNI 

The first fingerprint captured corresponds to the ID Card (DNI) under consultation. The second fingerprint captured corresponds to the ID Card (DNI) under
consultation. 
 /s/ Oscar Eduardo Salazar Chiappe 
 ID Card
(DNI) 10866908 / Fingerprint 
  

					
	CONSULTED INFORMATION	  	CONSULTATION VERIFICATION	  	
			
	 Operator: 09430050 – William

Leoncio Cajas Bustamante
	  	 The information can be verified on line at:

https://serviciosbiometricos.reniec.gob.pe/identification.do
	  	
			
	 Transaction Date: Sept. 26, 2017

09:07:51
	  	Consultation Number: 0034128166	  	
			
	 Entity: 10094300504 – CAJAS

BUSTAMANTE WILLIAM LEONCIOEX-10.05.1

 Exhibit 10.05.1 

RIGHTS SUBORDINATION AGREEMENT 

This Rights Subordination Agreement (the “Agreement”) is made and entered into by and between: 

 

	 	•	 	ODEBRECHT LATINVEST PERU DUCTOS, S.A., a corporation duly organized and validly existing under the laws of Peru, identified by Taxpayer ID Number (RUC) 20513396571, with principal place of business for the
purposes hereof at Av. Víctor Andrés Belaunde 280, Oficina 501, San Isidro, acting by and through Jorge Henrique SIMOES BARATA, holder of Foreign Resident Card (CE) 000317457, and Nelson VIEIRA DE BULHOES, holder of Foreign Resident
Card (CE) 000367276, as per powers of attorney recorded on Entry 11893941 of the Registry of Companies in and for Lima and Callao (“OLPD”); 

  

	 	•	 	ODEBRECHT S.A., a corporation duly organized and validly existing under the laws of Brazil, with principal place of business for the purposes hereof at Avenida Luis Viana 2841, Edificio Odebrecht, Paralela,
Salvador, Bahía, acting by and through Ticiana MARIANETTI, identified by Individual Taxpayer ID Number of the Ministry of Finance (CPF/MF) 544.408.075-34 and ID Card (RG) 4835223 SSP/BA, and Mauro MOTTA
FIGUEROA, identified by Individual Taxpayer ID Number of the Ministry of Finance (CPF/MF) 115.134.858-90 and ID Card (RG) 11.335.092-2 SSP/SP (“ODB”);

  

	 	•	 	ENAGÁS, S.A., a corporation duly organized and validly existing under the laws of Spain, with principal place of business for the purposes hereof at Av. Santo Toribio 173 (Torre Real 8), district of San
Isidro, province of Lima, department of Lima, acting by and through David SAN FRUTOS TOMÉ, holder of Foreign Resident Card (CE) 001143118, authorized for this purpose as per powers of attorney recorded on Entry 13265833 of the Registry of
Companies in and for Lima (“Enagás”); 

  

	 	•	 	GRAÑA Y MONTERO S.A.A., identified by Taxpayer ID Number (RUC) 20332600592, with principal place of business for the purposes hereof at Avenida Paseo de la República No. 4675, district of
Surquillo, province and department of Lima, acting by and through Claudia Inés DRAGO MORANTE, holder of National Identity Card (DNI) 09336254, and Dennis GRAY FEBRES, holder of National Identity Card (DNI) 10267015, as per powers of attorney
recorded on Electronic Entry 11028652 of the Registry of Companies of the Lima Registration Office (“G&M”); 

  

	 	•	 	NEGOCIOS DE GAS S.A., a corporation duly organized and validly existing under the laws of Peru, with principal place of business for the purposes hereof at Avenida Paseo de la República No. 4675,
district of Surquillo, province and department of Lima, acting by and through Claudia Inés DRAGO MORANTE, holder of National Identity Card (DNI) 09336254, and Dennis GRAY FEBRES, holder of National Identity Card (DNI) 10267015, as per powers
of attorney recorded on Electronic Entry 13493968 of the Registry of Companies of the Lima and Callao Registration Office (“GYM”); 

	 	•	 	INVERSIONES EN INFRAESTRUCTURA DE TRANSPORTE POR DUCTOS S.A.C., a corporation duly organized and validly existing under the laws of Peru, with principal place of business for the purposes hereof at Av.
Víctor Andrés Belaunde No. 280, Int. 201, district of San Isidro, province and department of Lima, acting by and through Jorge Henrique SIMOES BARATA, holder of Foreign Resident Card (CE) 000317457, and Nelson VIEIRA DE BULHOES,
holder of Foreign Resident Card (CE) 000367276, as per powers of attorney recorded on Entry 12866524 of the Registry of Companies in and for Lima (“IITD”); and 

 

	 	•	 	GASODUCTO SUR PERUANO S.A., a corporation duly organized and validly existing under the laws of Peru, identified by Taxpayer ID Number (RUC) 20563236354, with principal place of business for the purposes hereof
at Av. Víctor Andrés Belaunde 280, Piso 2, Oficina 501, San Isidro, Lima, acting by and through Dennis GRAY FEBRES, holder of National Identity Card (DNI) 10267015, and Claudia Teresa HOKAMA KUWAE, holder of National Identity Card
(DNI) 10223305, as per powers of attorney granted by minutes of the Board of Directors’ Meeting held on April 6, 2016 (the “Corporation” and, together with OLPD, ODB, Enagás, HYM, IITD and NG, the “Parties”).

 The Parties enter into this Agreement under the following terms and conditions: 

SECTION ONE: RECITALS 
  

	1.1	On August 29, 2014, Gasoducto Sur Peruano S.A. (GSP) entered into a loan agreement (the “Loan Agreement”) with Natixis, New York Branch; Banco Bilbao Vizcaya Argentaria S.A.; Intesa SanPaolo, S.p.A., New
York Branch; Sumitomo Mitsui Banking Corporation; and The Bank of Tokyo-Mitsubishi UFJ, Ltd. (the “Lenders”), and Natixis, New York Branch, in its capacity as administrative agent of the Lenders (the “Administrative Agent”).

  

	1.2	Within the framework of the Loan Agreement, OLDP, ODB, GyM and Enagás (the “Guarantors”), as indirect holders of shares in GSP, executed independent corporate guarantee agreements whereby they guarantee
GSP’s payment obligations to the Lenders in proportion to their share in GSP’s capital stock (each of them hereinafter referred to as the “Corporate Guarantee”). 

 

	1.3	On April 8, 2016, GSP, the Guarantors, the Administrative Agent, and the Lenders, executed the Standstill and Amendment Agreement, whereby, among other things, the Loan Agreement was amended; the term of the
guarantees furnished by the Guarantors was extended; and OLPD, ODB and GyM granted promissory notes and undertook to furnish certain additional guarantees and trusts, either directly or through Consorcio Supervisor Ductos del Sur (“CCDS”)
or IITD (the “Additional Guarantees”), except for the Account Balance Pledge created by G&M in compliance with the Standstill and Amendment Agreement, which is included in the definition of Corporate Guarantee for the purposes of this
Agreement), in order to guarantee their payment obligations under their respective Corporate Guarantees. 

 Furthermore, within
the framework of the Standstill and Amendment Agreement, the CCDS: (i) shall transfer in trust to a trust estate certain accounts receivable it has with GSP under the EPC Contract executed by them on June 25, 2014, as amended (the
“EPC Contract”), the beneficiaries of which shall be the Lenders, on the one hand, and Enagás and G&M, on the other hand (the “CCDS Trust”); and (ii) shall waive the collection of the 5% penalty that would be
payable if GSP decides to terminate unilaterally the EPC Contract during the term of the Loan Agreement (the “Penalty”). 

	1.4	In the event that the Corporate Guarantees were enforced and Enagás, OLPD, ODB and/or G&M failed to honor them (or honor them partially), (i) the Lenders could enforce the Additional Guarantees and thus
obtain payment of the debt owed by GSP to them (as applicable), which would create rights to collect sums of money from GSP in favor of OLPD, ODB, G&M, IITD, Odebrecht Perú Ingeniería y Construcción S.A.C., Constructora
Norberto Odebrecht S.A. Sucursal Perú, and GyM S.A., in order to collect the portion of the debt paid to the Lenders directly through such enforcement; and/or (ii) a debt balance payable by GSP would remain outstanding under the Credit
Agreement if Additional Guarantees were not furnished by such Guarantor or were not enforced or, if enforced, the proceeds thereof were not sufficient to pay the full amount of its obligations under the respective Corporate Guarantee.

  

	1.5	If any of the events described in the foregoing subsection 1.4 occurs, GSP would be under the obligation to pay the debt that would accrue in favor of the Guarantor(s) whose Additional Guarantees were enforced, or its
obligations under the Credit Agreement would remain outstanding, which would reduce its chances to obtain the long-term financing required for the execution of its project. 

SECTION TWO: PURPOSE 
 Taking into account the
information contained in subsection 1.5 of Section One, and only in the event that they have failed to comply with their payment obligations under the Corporate Guarantees in a full and timely manner, Enagás, OLPD, ODB, IITD and G&M
hereby undertake: 
  

	2.1	Not to demand or receive from GSP the payment of any amount to which they may be entitled as a result of the enforcement of the Corporate Guarantees or the Additional Guarantees or as a result of any other current or
future credit right they may have against GSP from time to time under any title (including a capital contribution made to GSP or rights over other equity accounts derived from their capacity as shareholders of GSP), in all cases except as provided
for in subsection 2.5 below. 

  

	2.2	Not to demand the payment of any compensatory or default interest that may accrue on the amounts to which they may be entitled as a result of the enforcement of the Corporate Guarantees or the Additional Guarantees or
as a result of any other current or future credit right they may have against GSP from time to time under any title. 

  

	2.3	To acknowledge and not to dispute GSP’s right not to pay any amount claimed from GSP in breach of the provisions set forth in subsections 2.1 and 2.2 above. 

 

	2.4	Not to object to the payment that GSP may make, in any form, to the Guarantor(s) that honored its/their Corporate Guarantees by making full and timely payment to the Lenders (the
“Non-Defaulting Guarantor(s)”. For these purposes, the parties agree that, if there is any Non-Defaulting Guarantor(s), GSP shall pay the following amounts
only to such guarantor(s) (even if there is any outstanding debt owed to long-term financial creditors), in the order of priority set forth below: 

	 	a)	First, GSP shall pay the amounts it owes to each of the Non-Defaulting Guarantors as a result of the enforcement of the Corporate Guarantees. If there is more than one Non-Defaulting Guarantor, the payment shall be made pari passu and pro rate of the amount of their credit right. 

  

	 	b)	Second, once all the amounts referred to in item a) above have been paid, GSP shall pay the amounts that such Non-Defaulting Guarantor or the entities of its economic group that
make up the CCDS (that is, Odebrecht Perú Ingeniería y Construcción S.A.C. and Constructora Norberto Odebrecht S.A. Sucursal Perú, in the case of OLPD and ODB; and GyM S.A., in the case of G&M) have ceased to receive
as a result of the enforcement of the CCDS Trust or the non-payment of the Penalty. If two or more Non-Defaulting Guarantors are in that situation, the payment shall be
made in proportion to the amount of their credit rights. Such Non-Defaulting Guarantors may request GSP to pay such amounts directly to the respective CCDS member; in this case, the pertinent acts and
procedures must be carried out so that those payments are made in compliance with the requirements and formalities established by the legal framework in force. 

  

	 	c)	Third, once all the amounts referred to in items a) and b) above have been paid, GSP shall pay any amount delivered by the Non-Defaulting Guarantor to GSP as capital stock or
equity. If there are several Non-Defaulting Guarantors, GSP shall make payment pari passu and in proportion to (i) the amount of their credit rights pending collection; or (ii) their share in
GSP’s capital stock. 

  

	2.5	The Guarantors that honor their payment obligations to the Lenders under the Guarantee Agreements in a partial or delayed manner, or as a result of the enforcement of Additional Guarantees, shall only be entitled to
demand and receive from GSP the payment of up to the full amount of their credit rights against GSP, either directly or through other companies making up their economic group, provided that GSP honored in full the payments mentioned in subsection
2.3, items a) to c) above and there is no outstanding debt owed under the Credit Agreement or to long-term financial creditors. 

  

	2.6	In the event that Enagás, ODB and OLPD and/or G&M fail to comply with the provisions of the foregoing subsections, GSP shall be entitled to declare that such obligations have been waived in accordance with
Section 1295 of the Civil Code, which is expressly consented to by Enagás, OLPD, ODB, IITD, NG and G&M. 

 SECTION
THREE: GOVERNING LAW AND DISPUTE SETTLEMENT 
 The Parties agree that the Agreement and the creation, contents, enforcement, and termination of the
rights created hereunder are subject to the laws of the Republic of Peru (the “Governing Law”). Therefore, this Agreement shall be construed in accordance with the rules and principles of interpretation of Peruvian law. 

 Any dispute, claim or conflict of interest arising out of the execution, performance, interpretation and/or
termination of this Agreement and/or this arbitration clause shall be settled by de jure arbitration, in accordance with the Arbitration Rules of the Lima Chamber of Commerce (hereinafter, the “Center”), to which regulations,
management and decision the Parties submit unconditionally and which they represent to know and accept in full. In this connection, the dispute, uncertainty, claim or conflict arisen shall be submitted to the jurisdiction and knowledge of an
arbitration tribunal consisting of there (3) arbitrators. 
 If the parties in conflict are two (2), each of them shall appoint one arbitrator and the
third one shall be appointed by mutual agreement between the arbitrators thus appointed. The third arbitrator shall preside the arbitration tribunal. The Party sending the request whereby the dispute is submitted to an arbitration proceeding shall
include in such request the appointment of its arbitrator. The other Party shall, within five (5) days following receipt of such notice, appear in the arbitration proceeding and appoint one arbitrator. If any of the Parties fails to appoint its
arbitrator within such five (5)-day term or if the arbitrators fail to reach an agreement on the appointment of the third arbitrator within a term of fifteen (15) days, the appointment shall be made by
the Center. 
 If the parties in conflict are three (3) or more, two (2) of the arbitrators shall be appointed by the Center, and the third one
shall be elected by the two arbitrators appointed by the Center. The third arbitrator shall preside the arbitration tribunal. 
 Furthermore, if the two
(2) appointed arbitrators fail to elect the third arbitrator within a term of ten (10) days after the date on which the last of such arbitrators accepted the appointment, the third arbitrator shall be appointed by the Center. 

All the members of the arbitration tribunal must be attorneys-at-law by
profession and shall necessarily resolve the dispute pursuant to law (de jure arbitration). 
 Arbitration shall be conducted in the city of Lima and
in Spanish. 
 The arbitration award rendered by the arbitration tribunal shall be final, conclusive and binding. Consequently, the Parties expressly waive
their right to file an appeal. The award issued by the arbitration tribunal may only be rendered null in those cases established in Section 63 of Legislative Decree 1071. In that event, the judges and courts in and for the Judicial District of
Lima shall be competent. 
 The expenses and costs derived from arbitration shall be paid as established in the Center’s rules. 

All matters related to the arbitration that are not regulated by this Clause shall be governed by Legislative Decree 1071, as amended or replaced from time to
time. 
 The Parties agree that the current lack of determination of the unlikely dispute that would be submitted to arbitration may not be invoked by
either of the Parties to assert that this clause is not an arbitration agreement. 
 SECTION FOUR: NOTICES 

Any and all notices required to be exchanged by the Parties in connection herewith shall be made in writing and sent to the following addresses, telephone
numbers or electronic addresses: 

			
	 •     If to ODB:
	  	 Marcela Aparecida Drehmer Andrade

		  	 Address: Rua Lemos Monteiro No. 120, 15 andar,

		  	 Butanta, Sao Paulo

		  	 Email: marceladrehmer@odebrecht.com

		
	 •     If to OLPD:
	  	 Rodney Rodrigues de Carvalho

		  	 Marko Antonio Harasic Angulo

		  	 Address: Avenida Víctor Andrés Belaunde 280,

		  	 oficina 502, San Isidro, Lima.

		  	 Email: rodney@odebrecht.com

		  	
            mharasic@odebrecht.com

		
	 •     If to Enagás:
	  	 Esther Verona-Martínez Umbert

		  	 Address: Paseo Los Olmos No. 19, 28005, Madrid

		  	 España

		  	 Email: emverona@enagas.es

		
	 •     If to G&M:
	  	 Mónica María Miloslavich Hart

		  	 Claudia Inés Drago Morante

		  	 Address: Avenida Paseo de la República No. 4675,

		  	 Lima.

		  	 Email: mmiloslavich@gym.com.pe

		  	
            cdrago@gym.com.pe

		
	 •     If to GSP:
	  	 Dennis Gray Febres

		  	 David San Frutos Tomé

		  	 Claudia Teresa Hokama Kuwae

		  	 Avenida Víctor Andrés Belaunde 280, Piso 2,

		  	 San Isidro, Lima.

		  	 Email: dgray@concesionariagsp.com.pe

		  	
            
chokama@concesionariagsp.com.pe

		  	
            
dsanfrutos@concesionariagsp.com.pe

 In order to be valid among the Parties, any change in the above information shall be notified to the other Parties in writing
at least ten (10) days in advance. If a change in the information contained in the preceding paragraph has not been notified, any notice or communication sent to the addresses stated in said paragraph shall be deemed valid. 

SECTION FIVE: GENERAL PROVISIONS 
  

	5.1	This Agreement may only be amended, regulated or terminated by written agreement of the Parties reached in compliance with the formalities established by the Governing Law. 

 

	5.2	This Agreement and the creation, modification, extension and termination of the rights created hereunder are subject to the Governing Law. 

 

	5.3	In no case shall the failure or delay by either Party in exercising its rights, powers, authority or privileges nor any other related act shall affect any right, power, authority or privilege granted hereunder.

	5.4	The invalidity, either total or partial, absolute or relative, and the inefficacy of one or more provisions hereof shall not affect the validity of the remaining provisions hereof. On the contrary, it shall be
understood that the Agreement is valid and effective in full, considering the clause(s) held to be invalid in full or in part as non-existing. Consequently, the rights and obligations of the Parties shall be
exercised and performed as established herein. Subsequently to the determination of the invalidity or inefficacy of any term or provision hereof, the Parties shall negotiate in good faith in order to amend such term or provision in a manner that
reflects the original intention of the Parties, to the extent possible, and in acceptable manner so that the transactions contemplated herein are consummated as originally provided for. 

SECTION SIX: TERM 
 The Parties agree that this
instrument shall remain in force until the Guarantors have collected the entirety of the credit rights they hold directly or through the companies that make up their economic group. 

IN WITNESS WHEREOF, this Agreement has been executed in four (4) identical counterparts in the city of Lima, this 29th day of April. 2016. 

 On behalf of Odebrecht Latinvest Perú Ductos S.A.: 

/s/ Jorge Henrique Simoes Barata 

Attorney-in-Fact 

/s/ Nelson Vieira de Bulhoes 
 Attorney-in-Fact 
 [Signature Page of Odebrecht Latinvest Perú Ductos S.A. – Rights
Subordination Agreement] 

 On behalf of Odebrecht S.A.: 

/s/ Ticiana Marianetti 
 Attorney-in-Fact 
 /s/ Mauro Motta Figueira 

Attorney-in-Fact 

[Signature Page of Odebrecht S.A. – Rights Subordination Agreement] 

 On behalf of Enagás S.A.: 

/s/ 
 Attorney-in-Fact 
 [Signature Page of Enagás S.A. – Rights Subordination
Agreement] 

 On behalf of Graña y Montero S.A.A.: 

/s/ Claudia Inés Drago Morante 
 Attorney-in-Fact 
 /s/ Dennis Gray Febres 

Attorney-in-Fact 

[Signature Page of Graña y Montero S.A.A. – Rights Subordination Agreement] 

 On behalf of Negocios de Gas S.A.: 

/s/ Claudia Inés Drago Morante 
 Attorney-in-Fact 
 /s/ Dennis Gray Febres 

Attorney-in-Fact 

[Signature Page of Negocios de Gas S.A. – Rights Subordination Agreement] 

 On behalf of Inversiones en Infraestructura de Transporte por Ductos S.A.C.: 

/s/ Jorge Henrique Simoes Barata 

Attorney-in-Fact 

/s/ Nelson Vieira de Bulhoes 
 Attorney-in-Fact 
 [Signature Page of Inversiones en Infraestructura de Transporte por Ductos
S.A.C. – Rights Subordination Agreement] 

 On behalf of Gasoducto Sur Peruano S.A.: 

/s/ Claudia Teresa Hokama Kuwae 

Attorney-in-Fact 

/s/ Dennis Gray Febres 
 Attorney-in-Fact 
 [Signature Page of Gasoducto Sur Peruano S.A. – Rights Subordination
Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00283-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00283-of-00352.parquet"}]]