EFTA01367284.pdf

Amendment #4 Page 855 of 868 Ishit of CoMem% The current income tax calculation is presented ri tie reconolaton below 3314 2013 Loss before tax S (248.685) a (2.528.1.06) DK:cot—non-deductible expenses 2,443,986 2.068.310 Add—non.taxa be income (868000) — Dtterences in exchange rates from rronetary balances in foregn cureroy (694.866) 460,436 Application of organization costs (742,636) — Taxable roome S — S — Cutters troorre tax at effective rate d 30% S — S — Tre components of ire deferred tax assets and liabiltieS are presented below Statement of Financial Position aiatementALCAmotettenstatingsAllt December 31 December 31 December 31 December 31 2014 2013 2014 2013 Deferred tax asset Organization costs S 1,846,682 $ 1,597,423 8 248.139 1,597,423 Restoration provision 70,438 70,438 Deferred tax la trey Effect of nonintonetary assets denominated in Costa Rican colons for tax purposes (268.992) (2613,992) Far value of dernatwe finance' rstruments (127,889) (127.889) S 1,629,119 1,597 423 S (184 04) 1,597.423 Crganeaton costs relate to start-up costs accumulated by the Company prior b the beginning of commercial q:eratons Ties° costs may be amortized vnthin the next fee fiscal periods after the Company sells rescireing energy sales The effect on nanmonetary assets derominated m Coda Rican colons for tax purposes cognates because the tax base of the Company's non-monetary assets and taboties is leterersned in Costa Rican %kn. While the Convoys functorol currency is the US dolls The Company has considered the past experience of the group (Globeled Mesoamenca Energy (Wind) United and subsidiaries), in constructing 61111113I operabans. constructor, firencng trot it has in place as well as its in place PPA Based on these considerations Inversones &Slices believes that it is more likely than rot that rt will ultrnalely recover is deferred tax assets recorded at both December 31.2014 and 2013 21. Agreements and commitments 21.1 Guarantees Ire Company nes recognized a restoration proviso n to camp/ with tre reforestation pen commtment (note 15) 212 Emaronntentat comentents As part of tre environmertal license for the Rotect warted by Setena, the Company committed to certain requeements during the construction and operation gases of re Project Those requirements onntemPtale F-535 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058812 CONFIDENTIAL SDNY_GM_00204996 EFTA01367284