ett depends on the timing of the review of the documentation by the Tax AuMority. Reimbursement or such amounts occurs throup credit notes issued by the Tax Authority. Those erects notes can be traded in the local market. although normally with a discoid ranging from 15% to 20% The Company behaves Mat such VAT is

etullo II and Runatilialli Hydroelectnc Rants This loan will be cancelled with the resources from the VAT Refund request that Me Corrpany vie fie to the Tax Authority (d) As of December 31, 2014 aid 2013, the finance' obligations have the !plowing matuntes Year 2014 Si 2013 Si 2014 _ 4.434.774 2015 1.67

t depends at the timing of to review of the documentation by the Tax Authority Reirrtursernent of such amounts occurs throuji credit notes issued by the Tax Authority. Those erode notes can be traded in the local market, although norrnalty *Shad:1count ranging from 15% to 20% The Company believes Ret such VAT ra f