MPC Energy Solutions N.V.

Quarterly Report • Nov 6, 2025

FINANCIAL REPORT Q3 2025

MPC Energy Solutions N.V.

MPC ENERGY SOLUTIONS IS A FULL-CYCLE INDEPENDENT POWER PRODUCER (IPP)

MPC Energy Solutions ("MPCES", "Company", together with its subsidiaries "Group", "we") develops, builds, owns and operates renewable energy assets, with the current focus on utility-scale solar photovoltaics (PV).

We generate and deliver clean and affordable energy to public and private off-takers in developing and emerging markets, accelerating and driving the energy transition. To sell the energy we produce in our plants, we usually sign long-term power purchase agreements (PPA) which help us secure predictable cash flows for our projects while simultaneously allowing off-takers to purchase energy at reliable prices that are usually lower than the applicable tariffs from public or private power utilities.

The Company is currently active in several countries across Latin America.

Contents

• 4 MPC Energy Solutions in Brief
• 6 Year-to-Date 2025 Results Summary
• 7 Report of the Management Board
• 13 Consolidated Financial Statements

FINANCIAL DISCLAIMERS AND DEFINITIONS

Amounts reported in thousands or millions throughout this report are computed based on the underlying numbers in US dollars (USD). As a result, the sum of the components reported in the underlying numbers in USD may not equal the total amount reported in thousands or millions due to rounding. Certain columns and rows within tables may therefore not add up due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in USD.

To supplement our consolidated financial statements presented on International Financing Reporting Standards (IFRS) basis, we disclose certain non-IFRS financial measures (Alternative Performance Measures, APM), including, without being limited to, proportionate energy output numbers, proportionate revenues, and proportionate earnings before interest, taxes, depreciation and amortization (EBITDA) and proportionate earnings before interest and taxes (EBIT), including percentages and ratios derived from those measures. EBITDA and EBIT are commonly used performance indicators in the Company's industry.

The difference between consolidated values and proportionate values is explained by the following pro-rata considerations:

Project	Share considered to calculate consolidated values	Share considered to calculate proportionate values
Los Santos I, Mexico	100%	100%
Santa Rosa & Villa Sol, El Salvador	100%	100%
San Patricio, Guatemala	100%	100%
Los Girasoles, Colombia	100%	100%
Planeta Rica, Colombia	0%	50%

The APMs we use are not necessarily in accordance with generally accepted accounting principles stipulated by IFRS and should not be considered in isolation from or as a replacement for the most directly comparable IFRS financial measures. Furthermore, other companies may calculate these APMs differently than we do, which may limit the usefulness of those measures for comparative purposes.

Management uses supplemental APMs to evaluate performance period over period, to analyse the underlying trends in our business, to assess our performance relative to our competitors and to establish operational goals and forecasts that are used in allocating resources. In addition, management uses APMs to further its understanding of the performance of our operating projects and help isolate actual performance from adjustments required by accounting standards.

FORWARD-LOOKING STATEMENTS

Certain information and statements shared in this document, including financial estimates and comments about our plans, expectations, beliefs, or business prospects, and other information and statements that are not historical in nature, may constitute forward-looking statements under the securities laws. We make these statements based on our views and assumptions regarding future events and business performance at the time we make them.

We do not undertake any obligation to update these information and statements in the future. Forward-looking statements are subject to several risks and uncertainties, and actual results may differ materially from the results expressed or implied considering a variety of factors, including factors contained in our financial statements, filings, and other releases.

MPC ENERGY SOLUTIONS N.V.

MPC ENERGY SOLUTIONS IN BRIEF

MPCES was founded on 4 June 2020 as a Dutch public limited liability company incorporated in the Netherlands and governed by Dutch law. The Company is registered with the Dutch company register under the organization number 78205123, and its registered office is at Apollolaan 151, 1077 AR Amsterdam. MPCES has additional offices in Bogotá (Colombia) and Panama City (Panama).

The shares of the Company are listed on the Euronext Growth segment of the Oslo Stock Exchange under stock ticker MPCES (ISIN: NL0015268814).

Solar PV Hybrid

YEAR-TO-DATE 2025 RESULTS - SUMMARY

in million USD unless stated otherwise	Q1-Q3 2025	Q1-Q3 2024
Installed capacity (MW, proportionate, cumulated)	63	66
Energy output (GWh, proportionate, as generated)	91.6	89.8
Project revenue (proportionate)	9.2	9.7
Project EBITDA* (proportionate)	6.8	6.5
Project EBITDA margin (proportionate)	74%	67%
Group EBITDA* (proportionate)	4.3	3.6
Group EBITDA margin (proportionate)	47%	37%
Revenue (consolidated)	8.2	8.9
EBITDA* (consolidated)	3.7	3.1
Group EBITDA* margin (consolidated)	45%	34%
Total assets (consolidated, group level)	126.2	124.3
Equity ratio (consolidated, group level)	37%	49%
Free cash**	8.7	2.1
EPS (consolidated, basic and diluted, USD)	(0.15)	(0.22)
Adjusted EPS*** (consolidated, basic and diluted, USD)	(0.08)	(0.12)
Cash flow from operations (consolidated)	(3.4)	(1.5)
Cash flow from investing activities (consolidated)	(1.6)	(17.1)
Cash flow from financing activities (consolidated)	7.2	8.2
FX translation differences (consolidated)	0.1	(0.1)
Total cash flow for the period (consolidated)	2.2	(10.5)
Free cash flow to equity (FCFE)****	2.3	(9.9)

^* EBITDA stands for earnings before interest, taxes, depreciation and amortization

^{* *} We define free cash as funds available for immediate deployment for project investments, project development and group overhead. This figure excludes cash available in our project companies as well as cash deposited as collateral to secure project-related bank guarantees or energy trading activities. Free cash, in principle, can also be (partially) used to distribute cash to shareholders.

^*** Adjusted EPS excludes the impact of impairment charges and FX effects on net income.

^**** Please refer to the section on free cash and free cash flow for details.

REPORT OF THE MANAGEMENT BOARD

FINANCIAL AND OPERATIONAL RESULTS

Project Performance

During the third quarter of 2025, four projects were delivering energy to power grids in Mexico, El Salvador, and Colombia. At the end of September of this year, we divested our financial interest in Planeta Rica (Colombia). The project will consequently no longer contribute to our financial results in the future, i.e. Q4 2025 and beyond.

proportionate, in thousand USD	Energy output (GWh)	Revenue (project level)	EBITDA (project level)	EBITDA margin (project level)
Q1-Q3 2025	91.6	9.2	6.8	74%
Q1-Q3 2024	89.8	9.7	6.5	67%
Q1-Q3 2023	65.7	6.8	3.0	45%
Relative change 2025 vs. 2024	+2%	-6%	+4%

Note: Rounding differences may occur.

Overall, our projects delivered better results year-to-date compared to the previous year, especially on a like-for-like basis (i.e. excluding Neol CHP (Puerto Rico), which did not contribute to any results in 2025 after we divested the project at the end of 2024). We benefitted from a greater technical availability of our plants – compensating for lower irradiation values - and from higher energy prices (especially in El Salvador). In addition, our cost optimization has progressed well, reflected in higher operating margins across the portfolio compared to 2024.

	Q1-Q3 2025	Q1-Q3 2024	Change
Energy output (proportionate, in GWh)
Santa Rosa & Villa Sol, El Salvador	32.7	29.1	+13%
Los Santos I, Mexico	27.1	27.8	-3%
Los Girasoles, Colombia	16.2	16.4	-1%
Planeta Rica, Colombia	15.6	15.0	+3%
Neol CHP, Puerto Rico	-	1.5	-100%
Total	91.6	89.8	+2%
Elimination of Neol CHP	-	(1.5)
Total energy output, like-for-like	91.6	88.3	+4%
Revenue (proportionate, in thousand USD)
Santa Rosa & Villa Sol	3,814	3,165	+20%
Los Santos I	3,134	2,922	+7%
Los Girasoles	1,233	1,583	-22%
Planeta Rica	1,000	891	+12%
Neol CHP	-	1,155	-100%
Total	9,181	9,716	-6%
Elimination of Neol CHP	-	(1,155)
Total revenue, like-for-like	9,181	8,561	+7%

	Q1-Q3 2025	Q1-Q3 2024	Change
EBITDA (proportionate, in thousand USD)
Santa Rosa & Villa Sol	3,347	2,638	+27%
Los Santos I	2,379	2,102	+13%
Los Girasoles	480	576	-17%
Planeta Rica	595	587	+1%
Neol CHP	-	634	-100%
Total	6,801	6,537	+4%
Elimination of Neol CHP	-	(634)
Total EBITDA, like-for-like	6,801	5,903	+15%
EBITDA margin
Santa Rosa & Villa Sol	88%	83%
Los Santos I	76%	72%
Los Girasoles	39%	36%
Planeta Rica	60%	66%
Neol CHP	-	55%
Total	74%	67%

Note: Rounding differences may occur.

El Salvador: Our solar PV plant Santa Rosa & Villa Sol experienced a significant increase in energy output and revenues in the first half of the year compared to the previous year, which was in part driven by higher energy prices, but mainly by an adjustment to the discount at which we sell our energy relative to a market reference tariff. The discount was 32% during the first 12 months of operations and decreased to 16% during Q1 2024, which was consequently only partially reflected in the Q1-Q3 2024 figures. The project continues to deliver high operating margins in line with our expectations.

Mexico: The project recorded a comparatively weak third quarter compared to last year, but did generate higher revenues and margins nonetheless. The plant has shown high technical availability during the first three quarters of 2025, irradiation levels were supportive and we were also able to sell energy from the so called "energy bank", i.e. a reserve of produced but unsold energy from prior periods. Following cost reduction measures implemented in 2024 and 2025, we are now seeing operating margins at the level we target (76% EBITDA margin in Q1-Q3 2025) and are working on securing these margins for future quarters.

Colombia: While the output from our plants was similar to or improved year-over-year and the need to purchase energy in the spot market was limited compared to prior years, Colombia remains a challenging market. The security situation in certain parts of the country remains volatile, increasing related expenses to improve security and protect our staff on site. Operating margins remain below normal levels for solar PV projects. We have to trade more energy than we anticipated at the beginning of the year, but are trading in an overall lowerprice environment, which affects the top line of the projects. Our financial interest in Planeta Rica (Colombia) was sold at the end of Q3 2025. The project will consequently no longer contribute to our financial results in the future, i.e. Q4 2025 and beyond.

Puerto Rico: We sold the CHP plant at the end of 2024. Our share in the sales price was USD 3.8 million, of which USD 2.8 million were received last year, and we collected the remaining tranche in October 2025. In 2025 and going forward, Puerto Rico will consequently no longer generate revenues and profits for the Group.

Construction Progress in Guatemala

The construction of our 66 MWp solar PV plant San Patricio in Guatemala was completed in July of this year, and the project is currently awaiting permits from national and regional grid authorities to commence the testing in commissioning phase.

Corporate Overhead Costs

After significant cost reductions in 2024 (-30% compared to 2023) were already accomplished, we initiated additional cost reduction measures in early 2025, which started to properly translate into our profit and loss during the third quarter, as projected in previous reports.

Year-to-date, overhead expenses are 14% lower compared to the same period in 2024 and nearly 40% lower than in 2023.

in thousand USD	Q1-Q3 2025	Q1-Q3 2024	Change
Employee expenses	(1,221)	(1,243)	-2%
Other overhead	(1,293)	(1,688)	-23%
Total	(2,514)	(2,931)	-14%

Note: Rounding differences may occur.

Free Cash Position and Free Cash Flow

We define free cash as funds available for immediate deployment for project investments, project development and group overhead. This figure excludes cash available in our project companies as well as cash deposited as collateral to secure project-related bank guarantees or energy trading activities. Free cash can, in principle, also be (partially) used for distributions to shareholders.

in thousand USD	30.09.2025	31.12.2024
Consolidated group cash position	14,710	12,415
Restricted deposits	(180)	(635)
Cash held in consolidated project entities	(5,876)	(7,580)
Free cash position of the Group	8,654	4,200

Note: Rounding differences may occur.

We project our year-end free cash position, prior to distributions to shareholders, to increase to around USD 9 million by year-end 2025.

in thousand USD	Q1-Q3 2025	Q1-Q3 2024
Operating cash flow	(3,388)	(1,528)
Capital expenditure (net of divestments)	(1,551)	(17,089)
Net borrowing	7,264	8,727
Free cash flow to equity (FCFE) of the Group	2,325	(9,890)

Note: Rounding differences may occur.

The FCFE we calculate excludes certain cash flow items, especially in investment and financing cash flows, that do not relate to capital expenditure, acquisitions, divestments or the receipt and repayment of loan amounts. Small deviations from our overall cash flow for the period therefore occur.

The operating cash flow in the first three quarters of 2025 was negative, mainly due to (a) interest paid on non-recourse loans (USD 3.3 million) and (b) VAT payments in connection with the construction of San Patricio (Guatemala) which can only be recovered during the operational phase (USD 3.9 million). Both types of cash payouts are classified as operating cash flow under IFRS.

OUTLOOK 2025

MPCES has defined milestones for the current financial year. The following are driving our Company's activities in 2025:

• • 1) Connecting San Patricio (Guatemala) to the power grid
• • 2) Project divestments to increase free, distributable cash
• • 3) Reducing spending on overhead and development compared to 2024

As of the writing of this report, we are on track to achieve the set targets, with the unfortunate exception of experiencing a delay of the operational start of our project in Guatemala.

Given the delay in Guatemala, we have consequently revised our year-end projections. The overall negative impact on our fullyear guidance for revenue and EBITDA caused by the delay is relatively minor and partially mitigated by the contribution from our Colombian projects, which were originally not included in the 2025 outlook.

Proportionate values, in million USD unless stated otherwise	Revised Projection 2025	Original Projection 2025	Actual 2024
Energy output (in GWh)	114	140 to 145	116
Revenue	12.0	12.0 to 13.0	12.8
Project EBITDA	9.0	9.0 to 9.5	7.9
Group EBITDA	6.0	6.0 to 7.0	4.3

RISK FACTORS

Risk Management

The Group is exposed to a variety of risks which may or may not materialize and could potentially have an adverse effect on the Group's business and prospects. It is considered practically impossible to generate risk-free profits systematically and sustainably, as risks are part of every company's business activity. Therefore, identifying and mitigating risks is among the most important entrepreneurial duties.

For a detailed overview of the Company's risks and risk assessment, please refer to our Annual Report 2024.

The Company regularly reviews its methodology of risk management to check whether it meets the current needs and requirements of the Management Board. As part of this review, MPCES evaluates its internal controls and systems for risk management and updates them where needed and encourages employees to actively contribute to the improvement of the Company's risk management system and policies.

MANAGEMENT BOARD

As of 30 September 2025, the Group's Chief Financial Officer (CFO), Stefan H.A. Meichsner, and the Group's Managing Director for Central America and the Caribbean, Fernando Zuñiga, were the only members of the Management Board.

GOING CONCERN

In preparing the consolidated and company-only financial statements, the Management Board is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless it is expected to liquidate the Company or to cease its operations.

Assessing whether going concern is the correct presumption requires judgement by the Management Board on different matters concerning the Company's ability to continue its operations in the future. This judgement is based on the financial position of the Company, the Company's existing operational projects, projects under construction and the project development backlog, business opportunities and financial projections. Since the Company is not yet generating positive cash flows, the uncertainty of maintaining sufficient liquidity to support the going concern assumption has been assessed. Based on internal financial projections and preparations made to secure additional funding from external sources (asset sales, equity and debt), as well as the fact that the Company has currently no long-term debt on corporate level, the Management Board currently sees no significant risk materializing from this uncertainty.

E V EN T S A F T ER T HE R EP OR T ING DATE

In October 2025, we collected the final payment from our sale of Neol CHP LLC (Puerto Rico). The amount received was USD 1.0 million payment.

CONSOLIDATED FINANCIAL STATEMENTS

Consolidated Statement of Financial Position	15
Consolidated Income Statement	16
Consolidated Statement of Cash Flows	17
Notes to the Consolidated Financial Statements	18

Consolidated Statement of Financial Position

for the period ended 30 september, unaudited (before appropriation of results)

in thousands USD	Notes	30.09.2025	31.12.2024
Intangible assets		13,270	16,455
Property, plant and equipment		85,019	76,270
Right-of-use assets		1,387	1,435
Investments in joint ventures		-	6
Financial assets		4,000	4,000
Deferred tax assets		467	448
Non-current assets		104,143	98,614
Trade and other receivables		5,303	4,292
Current tax receivables		1,718	733
Prepayments and accrued income		304	122
Cash and cash equivalents	1	14,710	12,415
Current assets		22,034	17,567
Assets held for sale	2	-	7,410
Total assets		126,178	123,586
Shareholders' equity		46,761	50,235
Total equity		46,761	50,235
Project finance loans	3	70,819	63,626
Lease liabilities		1,552	1,584
Deferred tax liabilities		1,849	1,169
Provisions		328	298
Non-current liabilities		74,547	66,677
Trade and other payables	3	1,576	3,522
Project finance loans		3,042	2,981
Lease liabilities		117	60
Provisions		134	111
Current liabilities		4,869	6,674
Total equity and liabilities		126,178	123,586

Consolidated Income Statement

for the period ended 30 september, unaudited

in thousand USD unless stated otherwise	Q1-Q3 2025	FY 2024
Revenue	4 8,181	11,623
Cost of sales	(1,974)	(4,180)
Employee expenses	(1,221)	(1,641)
Other operating expenses	(1,293)	(1,964)
Depreciation, amortization	(2,564)	(4,222)
Operating income before impairment charges	1,129	(384)
Impairment charges	(2,203)	(12,902)
Operating income after impairment charges	(1,074)	(13,286)
Other income and expenses	(725)	(744)
Financial result incl. foreign currency effects	(1,626)	(3,669)
Share of result of joint ventures	-	(38)
Profit / loss before income tax	(3,426)	(17,736)
Income tax expenses	95	337
Net profit / loss for the period	(3,331)	(17,400)
Attributable to common equity holders of the Company	(3,331)	(17,470)
Attributable to non-controlling interest	-	70
Weighted average shares outstanding	22,250,000	22,250,000
Basic EPS, in USD	(0.15)	(0.78)
Diluted EPS, in USD	(0.15)	(0.78)

Consolidated Statement of Cash Flows

for the period ended 30 september, unaudited

in thousand USD Notes	Q1-Q3 2025	FY 2024
Cash flow from operating activities	(3,388)	(3,959)
Cash flow from investment activities	(1,551)	(26,140)
Cash flow from financing activities	7,166	22,224
Net change in cash and cash equivalents	2,227	(7,875)
Effects of currency translation	68	(193)
Cash and cash equivalents at the beginning of the period	12,415	20,483
Cash and cash equivalents at the end of the period	14,710	12,415

Notes to the Consolidated Financial Statements

GENERAL

Company profile

As an integrated full-cycle independent power producer (IPP), the principal activities of the Company and its subsidiaries are to develop, build, own, and operate renewable energy projects. Such projects currently exclusively include solar photovoltaics (PV).

The registered and actual address of MPC Energy Solutions N.V. is Apollolaan 151, 1077 AR Amsterdam, the Netherlands. The Company is registered at the Dutch chamber of commerce under number 78205123. The Company was incorporated on 4 June 2020. MPCES has additional offices in Bogotá (Colombia) and Panama City (Panama).

Following a private placement of shares on 22 January 2021, the shares of the Company were listed in the Euronext Growth segment of the Oslo Stock Exchange.

Going concern

In preparing the consolidated and company-only financial statements, the Management Board is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless it is expected to liquidate the Company or to cease its operations.

Assessing whether going concern is the correct presumption requires judgement by the Management Board on different matters concerning the Company's ability to continue its operations in the future. This judgement is based on the financial position of the Company, the Company's existing operational projects, projects under construction and the project development backlog, business opportunities and financial projections. Since the Company is not yet generating positive cash flows, the uncertainty of maintaining sufficient liquidity to support the going concern assumption has been assessed. Based on internal financial projections and preparations made to secure additional funding from external sources (asset sales, equity and debt), as well as the fact that the Company has currently no long-term debt on corporate level, the Management Board currently sees no significant risk materializing from this uncertainty.

Reporting Period and IFRS

The Company's financial year corresponds to the calendar year. The consolidated financial statements have been prepared in accordance with IFRS as adopted by the European Union and comply with the financial reporting requirements included in Part 9 of Book 2 of the Dutch Civil Code.

The consolidated financial statements have been prepared on a historical cost basis unless stated otherwise. The consolidated financial statements are presented in USD. All financial information presented in USD has been rounded to the nearest thousand USD unless indicated otherwise.

The Group's intention is to adopt the relevant new and amended standards and interpretations when they become effective, subject to European Union approval before the consolidated financial statements are issued.

NOT E S T O T HE C ONS OL ID AT ED F IN A NCI A L P O SI T ION, C ONS OL ID AT ED INCOME STATEMENT AND CONSLIDATED STATEMENT OF CASH FLOWS

1. Cash and Cash Equivalents

in thousand USD	30.09.2025	31.12.2024
Bank deposits and cash in hand	14,530	11,780
Restricted deposits and margin accounts	180	635
Total cash and cash equivalents	14,710	12,415

The Group in some cases provides cash collateral for guarantees to secure power grid connections, tenders, and obligations under supply agreements and power purchase agreements. Such collateral is disclosed as restricted deposits. The Group also conducts energy trading activities in Colombia, which may include the use of futures contracts. A deposit of cash as a collateral is required to cover the risk of such transactions. Such collateral held in "margin accounts" is also disclosed as restricted deposits.

2. Assets held for Sale

in thousand USD	30.09.2025	31.12.2024
Parque Solar Planeta Rica SAS, Colombia	-	7,410
Total assets held for sale	-	7,410

We concluded the sales of our entire financial interest in Planeta Rica (Colombia) at the end of the third quarter of 2025. Overall, USD 6.9 million were collected as a result of the divestment. Potential further payment could be collected in 2026 if the project meets certain performance milestones.

We have, however, impaired the remaining book value of the project by USD 1.4 million in Q3 2025 (principle of commercial prudence). Any additional payments collected in connection with the sale of our interest would consequently be recorded as a gain in the profit and loss statement.

3. Project Finance Loans

in thousand USD	30.09.2025	31.12.2024
Current portion of project finance loans	3,042	2,981
Non-current portion of project finance loans	70,819	63,626
Total project finance loans	73,861	66,607
Project breakdown:
Bonilla Zelaya Ingenieros Constructores SA de CV, El Salvador	16,281	17,378
Los Santos I SAPI de CV, Mexico	23,384	24,130
San Patricio Renovables SA, Guatemala	34,196	25,099
Total project finance loans	73,861	66,607

The Group mostly includes non-recourse financing structure in its projects, with loans being provided by commercial banks with tenors usually tied to the term of the respective project's power purchase agreement(s).

For its project Santa Rosa & Villa Sol, El Salvador, a loan is being provided by Banco Agricola, a member of the Bancolombia Group. The loan is USD-denominated, has a tenor of 15 years and an interest rate of 3-month SOFR plus 4,75%. And extension of the tenor to 17 years is currently being negotiated with the bank and would represent a cash flow and present value upside for the project.

The solar PV plant Los Santos I SAPI de CV, Mexico, has secured loans from the North American Development Bank (NADB) and the Development Finance Corporation (DFC), which each provide around 50% of the total outstanding debt. The loans originally had a tenor of 17 years and 20 years, respectively, and will mature in March 2034 and March 2037. Repayments are made semi-annually. The interest rates on both loans are fixed at 4.87% (NADB) and 4.9% (DFC) until 2025, after which the rates will increase by 25 bps for each of the two loans and remain fixed until 2030. The loans' interest rates will then increase by another 25 bps each until the end of the respective loan tenors.

We secured a project finance loan for our solar PV project in Guatemala, which began construction earlier this year. The 66 MWp plant is expected to connect to the power grid and commence operations in mid-2025. The loan of USD 34.0 million is provided by local bank Banco de América Central (BAC) and has a 16-year tenor, matching the length of the power purchase agreement (PPA) and reflecting a debt ratio for the project of around 80%. The loan carries a variable interest rate (3-month SOFR plus 2.5%).

MPCES has no short-term or long-term bank debt on corporate level.

4. Revenue

in thousand USD unless stated otherwise	Energy output (GWh)	Revenue (project level)	EBITDA (project level)	EBITDA margin (project level)
Santa Rosa & Villa Sol (El Salvador)	32.7	3,814	3,347	88%
Los Santos I (Mexico)	27.1	3,134	2,379	76%
Los Girasoles (Colombia)	16.2	1,233	480	39%
Planeta Rica (Colombia)	15.6	1,000	595	60%
Total proportionate values	91.6	9,181	6,801	74%
Consolidation adjustments	(15.6)	(1,000)	(595)
Total consolidated values	76.0	8,181	6,206	76%

COMMITMENTS

The Group has the following off-balance sheet commitments as of 30 September 2025:

The share purchase agreement with the sellers of the project Santa Rosa & Villa Sol (El Salvador) contains provisions regarding contingent purchase price payments depending on the commercial success of the project. Such contingent purchase price payments may accumulate to a maximum total amount of USD 6.9 million until 2043 (approximately USD 0.3 million per annum). The amount disclosed here refers to the part of the potential liabilities that we currently deem as improbable to be paid in the future, depending on the performance of the project.

EVENTS AFTER THE REPORTING DATE

In October 2025, we collected the final payment from our sale of Neol CHP LLC (Puerto Rico). The amount received was USD 1.0 million payment.