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The Company classifies the projects in the following phases and indicates the probability that a project will be built, based on the Company's experience and public information:

INITIAL DEVELOPMENT

Project with technical and financial feasibility, depending if there is possibility of a plot of land and/or access to the electricity grid is considered operationally viable.

ADVANCED DEVELOPMENT

Project currently in advanced technical and financial condition, given that the land has been obtained or is estimated to have a 50% or higher chance of being obtained, the necessary requests have been made to access the electrical grid and there is an estimate of a higher than 90% chance of obtaining it and the environmental permit has been requested.

BACKLOG

Project that currently stands in a phase preceding construction, where land and access to the electrical grid are secured, there ir a more than 90% chance of obtaining the environmental permit and there is a framework contract with an energy buyer, or a stabilized pricing scheme.

UNDER CONSTRUCTION

Project that currently has an order with the builder to start land development. At this stage, the completion of the project is virtually risk-free.

IN OPERATION

Project in wich the responsibility fo the asset has been transferred from the entity that performs the EPC (engineering, procurement and construction) function to the Groups's operating team.

This classification has been carried out by the Company itself. The definition of each of these phases and their milestones may not necessarily be the same as those used by ohter companies in the same sector.
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