Document:

EXHIBIT
4.5

 

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

(ELECTRICITY
SUPPLY CONTRACT AT FREE MARKET PRICES BETWEEN

ELECTROPERÚ
AND CEMENTOS PACASMAYO)

 

Term:
Through May 31, 2026

 

Maximum
contracted power:

 

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

 

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

 

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

 

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

 

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

 

     

     

    

 

Pricing:

 

From
February 1, 2016 to December 31, 2020:

 

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

 

From January 2021 to May 31, 2026:              

 

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

 

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

 

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

 

    2

     

    

 

Tariff
periods:

 

For
power:

 

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

 

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

 

For
energy:

 

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

 

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

 

Penalty
on power excess: 25% of the price.

 

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

 

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

 

 

3EXHIBIT
4.6

SUMMARY
OF KEY TERMS

GAS
SUPPLY CONTRACT BETWEEN OLYMPIC PERU AND CEMENTOS PACASMAYO

 

General

 

On August 29, 2018, Cementos Pacasmayo
S.A.A. (the “Company”) entered into an agreement with Olympic Peru pursuant to which Olympic Peru will supply natural
gas to the Company. Under the terms of the agreement, natural gas, to be used exclusively for consumption by the Company, is extracted
from lot XIII, located in Vice district, in the Province of Sechura, Piura. transmitted through a pipeline and delivered by Olympic
Peru to a delivery point at our Piura plant.

 

Term

 

The agreement will enter into force on
the date natural gas is first supplied to the Company and will remain in force until the earlier of (i) the 18-year anniversary
of such date and (ii) the termination of the license agreement for the exploration and exploitation of hydrocarbons from Lot XIII,
dated May 30, 1996, between Olympic Peru and Perupetro S.A., as amended, unless earlier terminated by either party pursuant to
the terms of the agreement or as provided by applicable law.

 

Agreement Phases

 

The agreement contemplates two phases:
the “Spot Phase” and the “Firm Phase.”

 

Spot Phase

 

The Spot
Phase is the first phase of the agreement, and will apply until the following conditions are met:

 

		a.	Olympic Peru obtains the necessary permits for extracting and collecting natural gas at a station
at our Piura plant (which has already been set up); and
	 	 	 
		b.	Olympic Peru builds a gas pipeline and installs all the necessary equipment to provide gas at the
point of sale at our Piura plant.

 

During this phase, all risk is for the
account of Olympic Peru, the Company is not required to make any purchases, and there is no requirement of exclusivity.

 

During this phase, the Company or Olympic
Peru may terminate the agreement at any time without any liability of any kind to the other party.

 

During this phase, the Company will pay
Olympic Peru a fixed price per MMBTU that is adjusted in year 6, year 9 and year 12.

 

     2

     

    

 

Firm
                                         Phase

 

The
Firm Phase is the second phase of the agreement, and will commence upon the termination of the Spot Phase, and satisfaction
of the conditions set forth below. Upon commencement of the Firm Phase, the agreement will cease to be a spot supply contract,
and will become a “take or pay” contract until it expires or is terminated pursuant to its terms. The following conditions
must be met in order to begin this phase:

 

		a)	The
                                         Peruvian government must grant a concession to a concessionaire for the distribution
                                         of natural gas through pipelines in Piura, where the Company’s Piura plant is located.
	 	 	 
		b)	Olympic
                                         Peru must transfer part of the system for extraction and collection of natural gas to
                                         the distribution concessionaire; and
	 	 	 
		c)	The
                                         Company must sign a distribution contract with the distribution concessionaire, on terms
                                         and conditions acceptable to Olympic Peru. Likewise, by virtue of the terms of the supply
                                         agreement, Olympic Peru will assume the Company’s interest in the distribution
                                         contract.

 

During
the Firm Phase, the Company will be required to take and to pay, even if the Company does not take the natural gas supplied by
Olympic Peru, for the amount of the maximum contacted volume (MCV) described below:

 

		●	For
                                         the first five years from the first date that natural gas is supplied to the Company
                                         under the agreement, the minimum daily volume of 60% of the MCV (including any increases
                                         in the MCV); and

 

		●	For
                                         the remainder of the term of the agreement, the minimum daily volume of 70% of the MCV
                                         (including any increases of the MCV).

 

From
the commencement of the Firm Phase, the penalty for terminating the agreement prior to its expiration or termination of the license
agreement is equal to approximately US$8 million for the first five years, and after that time, the penalty is equal to approximately
US$4 million.

 

 

3

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