EFTA Document EFTA01366835

Amendment #4 Page 406 of 868 1 ithir 0,11011, Other °pennons, risks Risk of shxtene et wind—This nett resat* from the slortage of wind due to natural faders. which Is reduced because the 'wind deposits' in Bran are one of the best in the world. as in addeon to high speed, vend is consdered stable, afferent from certan regions in Aso and the United Slates, when are suttect to cyclones, typhoons and other natural factors Hydrological risks—The power cupped through the National Interconnected System (SN) is mostly generated by hydrcelectro power Manta As the SIN operates trough an optimized shpmere system. centralized at the National Electric System Operator (ONS). each hydroelectric power para. includirg those owned by the Group. is exposed to the timing hydrological conditions both in the region where it operates and other Brazilian regions 'Men the hydrological conditions are unlarorable. together with the obligator of delherirg the contracted power. the Grow cold be exposed to the power spat market. which would affect as Mute financial resets However, the Company s total hydroelednc power generinon capacity is pert of the Energy Relocaton Mechanism (PARE), which partly 'negates the hydrdcgcal risk by spreadng it across al the plants included in the PARE. 19. SUBSEQUENT EVENTS On May 6. 2015 the board of sectors of Rena approved a panned share corentubcc agreement to be elided into wan TerraForm Global, Inc rierraFcrm Glober), an widow( Wm.:1aq of SurEdsca Ire.. whereby Rena will contntxite all of its rterests in the Groups most companies for shares in TerraForm Gabel anctbi cash. The transacton wit be cordtoned on applicable reguatory arc thrd party approvals. as well as the successful corridor' of TerraFam Gloters planned undenvMen meal public offering of stares to be regstered in the United Slates of America Management has considered subsequent eventsMau.") Are 10, 2015. the date these ante ed enamel statements were authonzed to be issued F.86 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-0058363 CONFIDENTIAL SDNY_GM_00204547 EFTA01366835