EFTA01366508.pdf

Amendment #4 Page 79 of 868 1 uhl. .of Cnnferif. We are exposed to foreign currency exchange risks because all of our protects are located in foreign countries. We generate substantially allot our revenues and four a porton cia our expenses in currencies other than U S dollars Changes in economic or political condrtors in any cl en Cott& teS in wroth we operate could resat in exchange rate movement new currency or exchange controls or other currency restrictions being imposed Because our Mantel results are reported in U S dollars if we generate revenue or earnings in otter curences. the translation et those results onto US dollars can result in a significant increase or decrease in the amount of those revenues or ea rm igs To the eaters tret we are unable to match revenues received ion foreign currencies with costs paid in Ine same currency exchange rate factualons n any such cttrercy could have an adverse &lea on our profitability. Substantially all of our cash flows are generated in toter currencies and. therefore, significant changes in the value of such foreign arrences reetrve to tre U S Cosa could have a matenal adverse effect on as finance' caxition and our ability to meet retest and principal payments on debts denominated in U S dollars In addition to currency translation risks. we incur arrency trareacton risks whenever we or one ot our projects enter into a purchase of saes transaction using a curency other than tre local currency of the transacting entity Given the venally of exchange rates, we cannot assure you that we will be able to effectrvety manage our currency transaction ardor translation risks t s positive that rabbiay n currency exchange rates wil have a material adverse effect on Oct Manual condlion or results of operations We expect to experience economic losses and gains and negate* and positive impacts on earnings as a result of foreign currency exchange rate flucluatons. partcularly as a result of changes in the value 01 the Indan Rupee, the Brazaran Real and the Chinese Yuan Rerennto Adds mortally. although a port on of our revenues and expenses are denominated on fOreognairrencies. we wit pay dividends to holders of our Class A cannon stock in US dollars The annual of U S dollar denominated dividends pad to our holders d our Class A <amain stock wit therefore be exposed to currency exchange rate nsk Altheuch we intend to enter into hedging arrangements to help mitigate score of the exchange rate risk there can be no assurance that these arrangements cull be suffaent Changes n the foreign exctarge rates cold have a material adverse effect on our results of operations and may adversely affect the amount ol cash dividends po id by us to holders of our Class A common stock Land title In India can be uncertain and then le no aseurrinct of clean title There is no central tee registry for real property in India Property records ri India are generally maintained al Ire state and district level and are updated manually through physcal records of all and-related documents and may not be evadable online for inspection or updated in a time, manner This coup result in property records arneseganons taking a significant amount of tome or berg naccuate in certain respects, wroth may irrpact the salty to rely on them Land records are often rend:oaten in local languages and rot legible, welch makes it afloat to deterrnne the content In adaton land records are often in poor condo on and are at times untraceable. whch materially impedes the tel ewegalon process Fortner. omproperly executed, unregistered or onsulficrentiy stamped conveyance instruments In a property's chain of tole, unregistered cncisnanrices in favor of third parties. rights of adverse possessors, ownership darns of family members of poor owners or third partes, or other defects that a purchaser may riot ce aware of can erect the Me to a property Asa testa, potential 01SpdeS or dams regarding ale to the and on which projects are developed or used fa operations or war be constructed in the future. may arse The Brazilian hydroelectric projects included in our product portfolio may fail lo be eligible to participate in Brazils energy reallocaon mechansm in the event they do not satisfy certain minimum operating performance reds-cements which could nave a material adverse effect on such larcleols operating results 71 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-0058036 CONFIDENTIAL SDNY GM_00204220 EFTA01366508