Vernon City Council
March 5, 2024

..

Item 9 Page 288 of 361
; ŒŒÊ
Ñåe̿ſр¬å
fÑŏ
ٖݭ®âåh݃²¡Ø؏Œå
]8ZIåbLå;QBBEgå
>bZc8^{å]8ZI/å
G¯†µÀÆå<°‹ÀåG¯†ÖÇ¢‡åR¶ˆ
å
:BBgFhh0å 
å9¯„ÆÒåx~ãå
?š£µÀå@9å*"å
>b_i8>jådHfhb]1å

VÁ›µå yµ
 —å
kIWIePb`Iå]uZ=If2å
 ++,-
#
IZ8QX3å
 «ßĵ—7°‘‰·ÃÐ
‰Ä³å
>:WTMbf]Q:åhl8mJåAbatg:>nbg
håYQ>E]hEå v[;Eg3å $((å KzeSg8oQb]åC8kH4å % å
p:zåQDI]qTNQ>:rQb]å]b
5å


&!).'å
hwfIp|å>b\e8]}6å
y¢±°£ÓåsÀàÆÓåx×Ôĸ
åU¹ˆ
å
8­­å=ªå”¿È²Ñå²ÝÑØ像åÑ ˜ºŒåᜏɏåѿ塺Œ Š€ØŒåƒâå؜’åŏÊÑ¿»å¿ËåœÌÑ¿ºÑåÝ­âå€Ý؝¿Ê¤äŒåØ¿åÑ¥™ºå¿»åƒœ€®•å¿–åڜå = ŒŒÊå;âåÕ¦˜º§º˜å؜å; Œå؜å
ŏÊÑ¿¼åÕ¨˜º©º˜å¦Ñ匏²ŒåØ¿åʏÅʏяºÙåڜ€Ø圏å¿Íåѝå€Ñå€Ý؞¿Ê Ùâåؿ僤¾Œåٜå;¦ŒŽÎå O¦­ÝϏåÛ¿åѤ˜ºåܟå; ŒŒÊ
Ñåeʿſр­å´‚â堽ހ­¤Œ€Øå؜å;¤Œå Elecnor Belco Electric Inc.

Pa
ge 289 of 361
..

Item 9 Page 289 of 361
"

5
7Ï-6,3,7(7"!+8<6
7Ï
¢¦—Ï¢hÏ
œ»u¼ÊÏ¢hÏvbbf§Ï
.fX¹fÏ^sf_Ï¼sfÏX¤¤¦£¤¨uX¼fϹupœX¼Ã¦fÏ ¢_ŽÏ]f¢ÈÏXbÏhu‘’ÏuœÏÎ"ϦfX¼fbÏuœh¢©˜X¼v¢žÏ
7¢“fÏ3¦¢¤¦wf¼¢¦¹sx¤
+X˜fÏBBBBBBBBBBBBÏC
8v“fÏ
DEFFFEEEEEEÏG
7uqœX½Ã¦fÏBBBBBBBBBBBÏH
)u¹»ÏX”Ïb
]
XϹ











/X³¼œf¦¹sy¤ !fœf¨Y”Ï0X¸œf¦Ï *v—u¼fbÏ1X¦»Ÿf¨Ï

 
+X˜fÏIDD
JKKKBBDDDÏLÏ
9u¼fÏ
7uqœX¼ÃªfÏD MMMNODDDDÏPÏ


¢¨¤
¢¯X¼v¢œ

¢«¤¢¨X¼fÏ,ou_f¦Ï:{¼fÏ>|`dÏ2¬eº}cg¡¾

&¢zœ»Ï=fœ»Ä¦f
3X¦¼œf«¹s¤

 ,¼sf­

+Z—fÏBBBBBBBBBBBBÏCÏ
;y¼fÏ
DEQRQBBBBBBBÏCÏ
7vqœX¼Ã¦fÏJSBBBBBBBBBÏHÏ

¢¨¤¢¨X¼fÏ7fX‘Ï

 
#Ï




+Z˜fÏ¢hÏX•Ï'¢~œ»Ï?fœ»Ã®f¦¹ÏTKUVBBBBBBBBBBBBBBBBBBBÏWÏ @"hϼsfÏubbf¦Ïu¹ÏXÏ_¢«¥¢¦X¼u¢Ï¢¦ÏXϔv—»fbϏu[]v”v¼ÊÏ_¢™¤XÊÏfœ¼f¦Ï¹¼X¼fÏ¢¦Ï_¢Ãœ¿ÊÏ¢iÏuœ_¢¦¤¢¦X¼u¢œÏ $œÏXbbu¼v¢ Ï»¢Ï¼sfÏ ]ùuœf¹¹ÏXbb¦f¹¹ÏXœbÏuœaÃbfÏXœÏœ_Ø]fœ_ÊÏ_f­¿uhu_Z¼fÏfÉf_ÃÀfbÏ]ÊÏXÏ7f_¨f¼X¦Íϼtf¨f¢jπžÏ¼sfÏl¢¯šÏ¹f¼Ïh¢¯¼sÏsf«fœÏ ”¹ÁuœqÏfX_sÏ¢mnu_f¦ÏȂ¼sϹƒqœyœrÏXüt¢°„¼ËÏXœbÏsu¹
sf«Ï_¢¦¨f¹¤¢œbœqÏ£ov_f Ï %hϼsfÏubbf¦Ïu¹ÏXϤX¦½œf¦¹s
¤Ï¢±ÏŠ¢uœ¼ÏÆfœ»Ã²f³Ï
¹¼X»uœpϼsX¼Ï¼sfϦf¹¤f_¼yÆfϤX¦»œf¨Ï¢¦Ï‹¢uœ¼ÏÆfœ¼Ã¦f¦ÏXr¦ff¹Ï»¢Ï]fÏtfbό¢uœ½‘ÊÏXœbϹfÆf´XÌϖuX]‘fÏk¢¦ÏXœÊÏXœbÏXÏ¢hÏ»sfÏ büuf¹ÏXœbÏ¢]†qX»u¢œ¹Ï¢kϼsfÏubbf«ÏŜbfµÏÂsfχbÏXœbÏÜbf¶ÏXœÊÏ_¢œ»·X_¼ÏX¦u¹vœqÏ»sf¦fh¦¢˜ Ï ¼ÀX_sÏfÇbfœ_fϼ¢Ï»sfÏ
vbÏ4¦¢¤¢¹\Ï ¢¦›Ï¼sX¼Ï¼sfÏuœbÆubÃXÏ¹uqœˆœrÏsX¹ÏXÃÂs¢¨‰»Êϼ¢Ïb¢Ï¹¢AÏ Elecnor Belco Electric Inc.

Pa
ge 290 of 361
..

Item 9 Page 290 of 361






/1.*"
4›5v8EIO;›3OJi8]›)iAP;8ˆQoi†›6rJw8AB›8iA›/^8;BfBiˆ›oE›3o_8w /o˜BxBA›3rBBA›3OJi†›
Rˆš›
oiˆy8;ˆ›
&#2
3›,+$›%`C<jpz›Da@q›
%
a
D=‰
{S>›
'
k
?

3$›( ›
0Ž|†8iˆ›ˆo›8iA›Oi›;ogrdR8i;B›˜TˆK›šoy›-oˆO;B›)i—UˆOiJ›OA†›8iA› oiˆw8;ˆ›!o;‘hiˆ†›wB_8ˆViJ›ˆo›ˆLB›/yo[B;ˆ›Oi;b’AOiJ›
9__›AABiA8›8ˆˆ8;L›†VJiBA›;orVB†›
OAABy›K8—RiJ›:B;ogB›ˆKowo‘JKbš›E8fO]V8w›˜VˆK›ˆLB›ˆBwf†›8iA›;oiAOˆOoi†›oE›ˆKB›

oiˆw8;ˆ›!o;’fBiˆ†›8iA›˜RˆL›^o;8_›;oiARˆYoi†›8FIB;ˆViJ›ˆLB›sBwEowg8i;B›8iA›ŠLB›;o†ˆ†›oE›ˆLB›7o}\›8ˆ›ˆLB›rc8;B›˜KByB› ‹LB›7oy\›O†›Šo›:B›AoiB ›MBwB:š›rworo†B†›8iA›8J|BB†›ˆo›F“_dš›rB„owg›ˆLB›7o\›˜RˆKVi›ˆKB›ŠOfB›‡ˆ8ˆBA›Ol›†ƒZˆ›8;;owA8i;B› ˜OˆL›ˆKB›
oiˆw8;ˆ› o;”fBiˆ†›Wi;_’AOiJ›ˆKB›GwiV†KOiJ›oE›8iš›8iA›8^]›^8:oy›f8ˆBxO8_† ›‹oo^†›B™rBlA8:_B›Bu•OrfBiˆ›
8iA›’ˆO_Rˆš›8iA›ˆ~8i†rovŠ8ŒOoi›†B
V;B†›iB;B††8wš›ˆo›H–^]š›t‚Eog›ˆNB›7o\›8iA›;ogr_BˆB›Xˆ›Vm›8›˜ow\g8neO\B›g8iiB€› Iow›ˆMB›ˆoˆ8e›8†B›
OA›†g›oE›


aØy­î \yÓüÂٍÀî k³ÚÓî eâî Z¼ÓÙî
d¼<î
› *5:

:
 6!:0 hy­¼éyîWîO-Óyuڈ¼³îymwîm´wîÊyžmuyîêŽÚîmîDLîOÓyu؈¼´î‚ymwîê•ÚîsmuœîžmØyîm´wî­Á´Úˆ´}î‚mËwêmÊyîmÚîVîӎ}´mžîŽ´wŽumډ¼µÓ;î
 Eî



 *5:

:


hy­¼éyîWîO.Óyuڈ¼´î‚yrîm´wîËyžmuyîê“ÚƒîmîDLîO/Óyuڋ¼¶î
 Eî 
 ymwîë؁îsmuœîßmÚyîm´wî­¼ã´Ú¶~î„mÌwêmÊyîmÚîU%îӈ´m îˆ´wˆumۍ¿´Ó<î *5:


2*,*:)[ˆÚíî`mž©+0 hy­¼éyîWîO-Óyuڊ¿´îymwîm³wîÍy muyîêÚîmî DM îO1Ôyuڈ¼´îymwîê‹Ûîtmuœî mÚyîm´wî­¼ã´Úˆ´}î‚mÊwêmÍyîmÚî L$îÖ}´m¡î  Eî 
ˆ³wˆumዼ´Ó=î
*5:

:$%
0*,*:: hy­¼éyîXîO/Ó|à¼´îymwîm´wîÌy muyîêˆàîmî
› FM"îO.Óyuږ¼´îymwîêÙƒîtmuœî mØyîm´wî­¼ã´Ú‹´}îƒmÌwêmÊyîmÚî G
î×}·m î  Eî 

ˆ´wŒumڍ¼´>îhy®¼éyîWîR-Óyuڈ¼´îymwîm´wîÍy qyîê–Ú‚îmîDN îS2Óyuٛîymwî
êŽÚîsmuœîžmÚyîm³wî²ã´Úˆ´}î‚mÌwêmÍyîmÙîHîӚ´n¢îˆ³wˆumڍ¼´î*dC^îu¼­yÍ,î
 *5:

:

 hy­¼éyîW îO-Óyuڈ¼´î‚yrîm´wîÍyžmuyîê“ځîmîDLîO/Óyuڈ¼´î  Eî
 ‚ymwîêˆÚîsmuœîĞmÙyîm´wî­¼ä´Ú¶€î‚mÌwêmÊyîmÚîOîӉȴm îˆ´wŽumو¼´Ó<î
 *5:

:
 hy­¼éyîW&îO3Óyuڈ¼´î‚yrîm´wîÍyžmuyîê“ځîmîDL
îO-Óyuڈ½´î  Iî
 
‚ymwîêˆÜ
îsmuœîŞmÚyîm´wî­¼ã´Ú—´€î‚mÌwêmÊyîmÚîRîӎ~´m îˆ´wŽumو¼³Ó;î ##:Yî
,*:#4:4 hy¯¼éyîWîO5Óyuډ¼´î‚ymwîm´wîÊyžmuyîì؂îmîHLîP-Óyuڈ¼´î 
‚ymwîë؁îsmuœîžmÙyîm´wî­¼è´Øˆ¶}î‚mÊwêmÌyîmÚîQîӉ}´m îˆ´w‰umٍ¼´Óîm»xî Îy­¼éyîWîT/Óyuڍ¼´î†ymwîm¶wîÏyžmuyîê˜ÚîmîHLîT-Óyuሼ´îymwîêˆÚ‚îsmuœî£mÚyî  Eî 

 m´wî­¼å´Úˆ´}înÌwêmÊyîmÚî#Jîӈ}´m¤îˆ´wvm؋¼´;î
 ##
:.8$5'*
:6 hy­¼éyîWîO.Óyu؈¼´îzmwîm´wîÒyÂ¥muyîë؁îmîFLîO/  Iî 
 Óyuو¼´îymwîêˆÙîsmuœî¦mÙyîm´wî°¼ã´Úˆ´}îmÊwêmÌyîmÙîLîӈ}´mžîˆ·wumڈ¼´Ó<î  ,5,


 hy­¼éyîWîO/Óyuڈ¼³î‚ymwîm´wîÊy muyîë؂îmîHLîO-Óyu«ˆ¼³î‚ymwî  Iî
  êˆÚîsmuî§mÚyîm³wî°¼ã¶Úˆ´
îƒmÌwêmÍyîmØîOîӈɴmžî´wˆum݈¼´Ó?î 
› j¾Þ¾Yî_oÏ­{Ïîb¾´î]lî
7 hy­¼éyîWîO/Óyuڈ¼¶îyrîm´wîÍy muyîêˆÙƒîmîELî
 Eî 
 O8Óyuڈ¼´îymwîêˆÚ‚îsmuœî¨mØyîm¸wî°¼æ´Úˆ´Èî‚mÍwêmÌyîmÚîD îӈf´m îŽ´wˆumڍ¼³@
,5,
:
3*,*:9 hy­¼éyîWîO/Óyu؎¼´îymwîm´wîÐyžmuyîëځîmîKL
îO-Óyuڍ¼´î
› ‚ymwîê˜ØîsmuœîžmÚyîm³wî­¼ç´Øˆ¶}î‚mÊwêmÍyîmÚî
Oîӎ}´mžîˆ´wˆumڈ¼´Ó;î ,5

:


::
 #*
#5#,*:/
-&$* :5"
:
)

:#+
#5#,*:5:5"
:4,85"
45:  Eî



,0*
0:
› j¾ß¾Yîc{¾´îÕî: hî ±¼éyîWîO-Óyuڈ¼´îymwîn´wîÌy©muyîëڃîmîHî(¬'îO.Óyu؍¼´î  Dî
 yrîëàîsmuœîƞmØyîm´wî­¼è´Ú‘¹~îƒmÑwêmÌyîmØî L!îӈg´m¤î’´w‹umڙ¼ºÓAî › ,5,
:18$7(*
 iy­¼éyîW"îO-Óyuڈ¼´îymwîm´wîÌyªmuyîê“ځîmîFLîO-Óyu؈¼´î  Iî
:
 9: ypwîëڇîsmuœîǧmÚyîm³wî­¼è´Ø”´
î‚mÊwêmÊyîmÚî#Hîӕg´mžî´wŽumٍÀBî Elecnor Belco Electric Inc.

..

Item 9 Page 291 of 361

 5E/%M!3$508'Mƒ ? Ɔ[gƆ"+
(Ɔ
Ɔ

Ɔ&


Ɔ ĴƆ
Ɔ
#*Ɔ"+ AƆ
Ɔ


 
/
ƆĚƆ Ɔ;

qƆw=
Ɔ
ƆV)
dƆ
ź
Ɔ
Ɔz‹©Ɔ
/d
rƆ/


 

iƆ

!3$)3)M
)%9:!M)4% V Ɔ[KƆ"„
Ɔ
Ɔ
Ɔx&


Ɔ Ɔ
Ɔ@#gƆ"Ë AƆ
Ɔ ŽƆ
•
/
Ɔ
”Ɔ Ɔ;

PƆž

Ɔ
Ɔ™¥

dƆ

Ɔ
ƆªŠ«Ɔ
d

Ɔ(


 
iƆ





%53*?/#5! ?Š ƆZ¬Ɔ"+

 Ɔ
Ɔ
ƆIs

Ɔ—Ɔ
Ɔ
#*Ɔ"h
 
AƆ
Ɔ G67M 
Ɔ(–Ɔ;

PƆw

Ɔ
Ɔŏ)

OƆ
x
Ɔ
Ɔ­Š*Ɔ
O


Ɔ
/

 
YƆ
 5D3%E
%=453MÌ ? ƆZ®Ɔ"+
¤ Ɔ
ĠƆ

Ɔx&Q

Ɔ ĵƆ
Ɔ

M"
Ɔ
Ɔ 
  
 Ɔ
Ɔ Ɔ;

qƆ&r
Ɔ

ƆV¦
 UƆ


Ɔ
Ɔ¶"*Ɔ
į

Ɔ ŝ

˜
Y
 5D3%EMñƆ%53)?MÍ ? ƆZ¯Ɔ"+

(Ɔ
Ɔ

ƆŤIņ

Ɔ(¢Ɔ
Ɔ
#*Ɔ"+ AƆ
Ɔ 

 Ɔ
Ɔ/Ɔ;

PƆw

Ɔ
śƆ?)/şƆ

Ɔ
Ɔz
*Ɔ İ

=Ɔ 

(
Ú
 5D3%EM;A+@/!3$MÎ čV ƆZ*Ɔ"Ï
 Ɔ
Ɔ
ƆŸ&=

Ɔ,Ɔ
Ɔ@#*Ɔ"+ AƆ
Ɔ 

 
 Ɔ
Ɔ Ɔ;

PƆI

Ɔ

Ɔ?Ŷ(
UƆ

Ɔ
Ɔ{"KƆ U

=Ɔ((

 ˆ
!?()4&@535"!>M !:$
? Ɔ[KƆ"+

/Ɔ
Ɔ
ƆI


Ɔ Ɔ
Ɔ


#KƆ"Ð


Ɔ
Ɔ –Ɔ;

PƆI=
Ɔ
Ɔ?¥
Ů UƆ

yƆ
Ɔ°ë*Ɔ
(U
sƆ AƆ åƆ 




¤ 

ÛƆ

*?@:)#@M52!M
)?@!M† ™ Ɔ[±Ɔ"„
¢ Ɔ
Ɔ
Ɔ&=

Ɔ(Ɔ
Ɔ
#gƆ"+ AƆ
Ɔ


 
Ɔ
Ɔ Ɔ;

qƆžŇ
Ɔ
ƆV) OƆ

Ɔ
Ɔ·‹*Ɔ
,O


Ɔ


,
YƆ

*?@:)#@M@/!3@)#M† ŗ Ɔï*Ɔì+

 
ƆĶ
Ɔ
ƆyIs

ƆłƆėƆ@#*Ɔíh Ɔ
Ɔ 

 
Ļ
Ɔ•
Ɔ Ɔ;

PƆ&

Ɔ
Ɔ?)£ļOƆ
ġ
ťƆ
Ɔ²
³Ɔ O

=ƆăĽ

(
j
,?@:)#@M/C$
M5::)$5:M+ 

=
ƆJƆ{RĆ!Ɔ9pĊ!NóƆGmm9Ɔ6!3:'Ɔ

':Ɔ62C_Ɔ#Ñ@ƆGm$9Ɔa2n2bƆ'3KƆ
ƆHƆ

Ɔ Ŧ
 
8jƆ ù)(Ɔ

Ɔ AƆ lƆ

/u
Q
ƆL#8ƆƆďXIƆ

!Ɔ&
Ɔ
ƆH)

(ÜƆ
!4$)4,M1C$
M5::)$5:MÒ2


Ɔ£Ɔ€€Rć!ƆõĔ3!n]ƆG$$9Ɔ6!:3'Ɔ

':Ɔ62SĂƆ#Ó@ƆG$$^Ɔa2n2bƆŒ'3KƆƆHvƆ

Ɔ,
 
żjƆ ú¦(Ɔ
Ɔ BƆ lƆ  
  /
Q
ƆL#8ƆuƆSX&Ɔ@+!Ɔ&Ɔ

Ɔcv)
 ‰Ɔ

5@5M
@
M5::)$5:FM2
=
ƆƆ|RB!Ɔöĕ3!N]ƆČ$$^Ɔ6!:ċ'Ɔ`'3Ɔ

6`C_Ɔç‡
ƆG$$9ƆBŒNSƆ'3*ƆºƆĨyƆ

Ɔľ
 
8ˆƆû)ū
ķƆ
”Ɔ 

rƆ»#8Ɔ BƆ
Ɔ 



ƆSX&Ɔ
+!Ɔ&Ɔ
Ɔcv)

ћiƆ

!3@!M%MC%
M5:<-$5:MÔ 


ƆƆ}RB!Ɔ9p:!N]Ɔ‘$$9Ɔ6!3:'Ɔ


':Ɔ62C_Ɔ#‡lƆG$$9Ɔa2Ĉ2bƆ`'Ž*ƆL
ƆHƆ

Ɔ Ŭ
 8ÝƆü)

Ɔ
Ɔ
/


Q
ƆL#8ƆuƆCX&Ɔ@h!Ɔ&Ɔ

ƆH)
ŵ›
kƆ
BƆ
Ɔ 
 

/!B?53MC%
M5::.$5:Mƒ`

ƆƆ|RB!Ɔ^p3!N]Ɔ‘$$9Ɔ6!33'Ɔ


':Ɔ6ąS_Ɔ#Õ
ƆG$$^ƆaN2bƆ'Ž´ƆLƆHƆ

Ɔ Ÿ
8ÞƆý)ŭ Ɔ

Ɔ BƆ
Ɔ

/

Q
ƆL#½Ɔ
ƆCX&Ɔ@+!Ɔ&Ɔ
ƆH)
/‰Ɔ
M÷ƆC“\Ɔ Ɔ¹ƆêƆØÇÈƆžğôƆ
ēĎĄCCøƆ\ĉoĐƆ Ɔ
HI
M
ÙſšƆ
ĞŞŎàÁƀâƁƆÀîãđƆÖ ƂƆÂĖÉÊƆ ƃƄƆá×äƆƅƆ
J
KLM
\ŌōƆ7.
ƆJŧŅƆůŐ1Ɔň%ŨÃƆ0

<
1Ɔ
7
ƆĢƆ<

ƆJ<Ɔ4Ɔ
Ɔ-T>tFƆ

ƆƆ.5Ɔ%7 Ɔ%<Ɔ
0ÄƆ%EDƆ
Ę
ƆWFƆ
Ɔ70Ţ

Ɔ
5Ɔ-Wń
Ɔ-
Ɔ-T
1ƆƆ

Ɔ
WƆę-->—%
Ɔ.4ƆƆƆ
Ɔě,
Ɔ
.Ɔ%Ɔ>EģƆĿƆDƆ% Ɔ%Ɔ
0YƆ
ĩƆ
4Ɔ<ƆƆ
-FƆ%Ħ
JƆ‚æ¾Ɔ.Ɔ}Ā
Ɔ“e
~ƆJƆ00

FƆ% 1Ɔ¼è8ƆFƆĪƆ
Ɔµ.
>Ɔ
~ƆJƆƆ
.Ɔī
Ɔ4,ı.Ɔ>ŷ0Ɔ%œ ħÅƆũƆ‚é¿Ɔ
5ƆŘĤ, ,Ÿ
Ɔoų
Ɔ’4,1Ɔ
Ɔ
ƆĒ
Ɔ-
<Ɔ5tʼnƆ.
QƆ 4Ɔ
5Ɔ
.
Ɔĝ7D1ƆƆ
5Ɔ


>ƆDƆ

Ɔř


Ɔ7 4Ɔ
Ɔ


kƆ Ĭ1ƆœJ 
1ƆDƆ)ŀ
Ɔ-
ƆƆ0%<IJff1ƆE


Łij%Ŋ1Ɔ4ƆE

ƆT
ƆŚ¨Ɔf1Ɔ

ƆƆ0<Ŵ
ÆƆ ƆƆ
ƆőƆŒEŰƆƆe5Ɔ
4FƆc¡Ɔ
ĸƆ
0Ɔ.7ű
1Ɔ
ĹƆ
Ɔ.šƆ
D
Ɔ>
Ɔ-W 
ƆƆ
>Ɔ%Ɔ Ɔ
%¨ƆŲƆ
œ
ĥƆţE

FƆT¡Ɔ
ƆDšƆƆ
Ɔ-4Ɔ
fƆ%e<Ɔ5

Ɔ%Ɔ.5ƆE
Ɔ-4,ßƆ
M˜
Ɔ5

ƆŻtEƆ
ĺƆ
ƆĭƆ’4Ŕ
ƆþƆT
0ƆM, ¸Ɔ MƆMƆ§ŕðƆ òƆMƆ§0Ɔ

Ɔ,
ŹƆ
5ƆĜ7
Ɔ cƆ
0DŪ
ƆƆ7
,
7ƆĮƆā WŜŖ.ŋƆ\--
 
ƆƆoe,>FƆÿkƆ
Elecnor Belco Electric Inc.

Pa
ge 293 of 364
Elecnor Belco Electric Inc.
e 292 of 361
..

Item 9 Page 292 of 361
"7'
;


,

$
)4
;8(0;


 "
;
"
;$4;:;;,1/05",);


,
!
%',+,
#$,,
  ,


0 44;




5
;





6 ;,
;
9-"05#,*;
66
45;
;;
(,8+5;,
;

05$
%

;,2;
4 "
24;
!
&;
,3;
$
;

,
)

;,
,
$
, ,"$)#(
(
;,
;
,)
$);
,(
.):;

!! ',

$*
&',
('
$#,#,


Elecnor Belco Electric Inc.

Pa
ge 293 of 361
..

Item 9 Page 293 of 361
 
 




=.7CL1',.$2JLC-'L7"6'BL"7&LC/D1'L9)LC-'L;>'B/&'7CL"7&L"5L9+.%'=BL9)LC-'L96;"7JLH-9L"='L"FD-9=.K'&LC9LB/,7LD-'L.&L 9>6B
L



LL

L

L
+
"02/7
0(
7 "7/17.%"+"17 0"1( ".27
/%"07
"(2/7 11(12
.27"0"2
067
/'.7/.&7 )"70"1) ".37
"0/.(7"05(+-
7 '("#7
(.
.(
+7#$*"07
("70"1(!".47
-'LF7&'>B.,7'&L -'='$JL%'=D.)/'BLC9LC-'L.CJL9)L '>797LC-"DL-' B-'L.BLD-'L&F1JL'1'%D'&L"7&L"%D/7,L
'(@E#?L9)L

,"./07 ",/7
+"20(
7 .7 D-'L
96;"7JL"7&LC-"CL"BLBF%-L-'
B-'L.BL"FC-9=.K'&LD9L'I'%FC'L
D-.BL7%F6$'7%JL'=C.)/%"D'L97L$'-"1)L9)LC-'L96;"7JL"7&L)F=C-'=L%'A/).'BLC-"CLC-'L;'=B97BL8"6'&L"$9G'L">'LC-'L&F1JL '3'%C'&L<F"1.)/'&L"7&L"%D/7,L9)*.%'>BL9)LC-'L96;"7JL-94&.7,L97LC-'L&"C'L-'='9)LD-'LC.C1'BL"7&L;9B/C.97BLB'DL):=C-L 9;;9B.C'LC-'0=L7"6'BL"7&L"='L"FD-9=/K'&LC9LB.,7LD-'L.&L9=6B L
L!

L!
 LC-'LF7&'=B/,7'&L-"BL'I'%FC'&LC-/BL7%F6$'7%JL'=D/).%"C'LD-.BL 127 &"JL9)L
2/
"07 7
("707 (7
 '
'

''

"

%
'
%$
'

''
!#'

&'$'


''
Elecnor Belco Electric Inc.

Pa
ge 295 of 364
Elecnor Belco Electric Inc.
e 294 of 361
..

Item 9 Page 294 of 361
3&'%*3.=8+11&=*&.&1=&="3=*=


=&&3"=%1&
=*=1
=*+=*=+1*+.=
*=
"&*+="*="1+
=&
=
!9:<9;=
=

=
Lx\¯  ŒZ\•˜zuŒ\Z
¯S\zŒu¯ Q††¯ Ž`¯šx\¯ Š\ŠS\•˜¯Ža¯šx\¯(ŽQ•Z¯ Ža¯1z•\UšŽ•˜¯šx]¯
(ŽQ•Z ¯ Žc¯4†\UŒŽ•¯(\†UŽ¯ 4†\Uš•zU
¯;ŒU
¯Q¯)Q†zr•ŒzQ¯UŽ•’Ž•QšzŽŒ¯šx\¯*ŽŠ’QŒ©

¯zŒ¯†z\ ¯Žb¯xŽ†Z{Œu¯Q¯Š\\š|Œu¯Žc¯šx\¯(ŽQ•Z¯x\•\S©¯
šQ
\¯šx\¯i††Ž¥zŒu¯QUšzŽŒ˜¯QŒZ¯QZŽ’š¯šx\¯r††Ž¥zŒu¯•\˜Ž† šzŽŒ˜¯S©¯ ŒQŒzŠŽ ˜¯¥•zš›\Œ¯UŽŒ˜\Œš!¯ 8 ,/=šx\¯(ŽQ•Z¯xQ˜¯Z\š\•ŠzŒ\Z¯šxQš¯}š¯z˜¯zŒ¯šx\¯+ŽŠ’QŒ©˜¯S\˜š¯zŒš\•\˜š˜¯šŽ¯Q’’ŽzŒš¯Q¯•\£z˜\Z¯ ˜†Qš\¯Žc¯DkU\•˜¯Žc¯šx\¯,ŽŠ’QŒ©¯
(*8=2
+*,== 2=+/*#6=šxQš¯šx\¯r††Ž¥zŒu¯’\•˜ŽŒ˜¯S\
¯QŒZ¯x\•\S©¯Q•\¯\†\Uš\Z¯
šŽ¯šx\¯ŽfoU\˜¯˜\š¯r•šx¯Ž’’Ž˜zš\¯šx\~•¯•\˜’\U›z£\¯ŒQŠ\˜
¯šŽ¯xŽ†Z¯˜ Ux¯ŽlU\˜¯ Œšz†¯šx\z•¯•\˜’\Uš£\¯˜ UU\˜˜Ž•˜¯
Q•\¯\†\Uš\Z¯QŒZ¯” Q†zo\Z¯Qš¯Ž•¯S\r•\¯šx\¯Œ\§š¯QŒŒ Q†¯Š\\šzŒu¯Žd¯šx\¯(ŽQ•Z¯Ž•¯ Œšz†¯šx\z•¯\Q•‰z\•¯•\˜’\Ušz£\¯ [^Rœy™¯–^™€vRœ€™¯–¯–^‹£R†™ ¯
)%.=
%†T^–œ¯9R–V€R¯2^¯@™¯%v^†^™¯
=^–€¯9^–¤€††R¯
Hw^–¯2^M€œ¯
F^[–¯5–€†^¯
A^R–[¯JRVy¯7–RV_™¯
=y¯Pv¯
*=
F–^™€[^œ¯R[¯-y€^e¯5¨^V¡œ€¤^¯EmV^–¯
.y€^e7€RV€R†¯EgpV^–¯
J^€–¯M€W^¯F–^™€[^œ¯9^^–R‡¯/¡™^ˆ¯
R[¯%™™€™œRœ¯J^V–^œR–ª¯
J^V–^œR–ª¯
M€V^¯F–^™€[^œ¯
M€V^¯F–^™€[^œ¯s–¯-™œ–¡Vœ€¯
4,2
+=+/*#6=šxQ¯&†S\—Ž¯:Q•UzQ¯1\¯BŽ˜¯'Œu\†\˜
¯>X—ŽŒ¯:\•£z††Q¯&†S\–žŽ¯:Q•UzQ¯
QŒZ¯IŽu\•¯ 3\NzšŽ¯zŒ¯šx\z•¯•\˜’\Ušz£\¯ UQ’QUzšz\˜¯†z˜š\Z¯QSŽ£\ ¯˜ S„\Uš¯šŽ¯˜ Ux¯˜ ’\•£z˜Ž—©¯’Ž¥\•˜¯Ža¯šx\¯
(Q•Z¯Žc¯1z•\UšŽ•˜
¯x\•\S©¯Q•\¯Q šxŽ•z­\Z¯QŒZ¯Zz•\Uš\Z¯šŽ¯’\•i–Š¯Q††¯šx\¯Z šz\˜¯UŽŠŠŽŒ†©¯zŒYzZ\Œš¯šŽ¯šxQš¯ ŽlU\"¯˜xQ††¯xQ£\¯ Q šxŽ•zš©¯šŽ¯\§\U š\¯zŒ¯šx\¯ŒQŠ\¯Žc¯šx\¯,ŽŠ’QŒ©¯UŽŒš•QUš˜¯†\Q˜\˜¯QŒZ¯Žšx\•¯¦•zšš\Œ¯ zŒ˜š• Š\Œš˜¯šŽ¯S\¯\§\U š\Z¯S©¯šx\¯+ŽŠ’QŒ©#¯QŒZ¯˜xQ††¯’\•i—Š¯˜ Ux¯Žšx\•¯Z šz\˜¯Q˜¯šx\¯(ŽQ•Z¯Ža¯1z•\UšŽ•˜¯ ŠQ©¯tŽŠ¯žzŠ\¯šŽ¯šzŠ\¯Z\š\—ŠzŒ\¯
= ,2
,=,/*#6=šxQš¯šx\¯G•\˜zZ\Œš¯QŒZ¯+xz\c¯6§\U šz£\¯DnU\•¯ŠQ©¯Z\†\uQš\¯Q šx•zš©¯ šŽ¯QŒ«¯+xz\c¯8zŒQŒUzQ†¯DjƒU\•¯Ž•¯+x‚\a¯D’\•QšzŒu¯DhqU\•¯Ž•¯K\ŒzŽ•¯NzU\¯G•\˜zZ\Œš¯•¯OzU\¯G•\˜zZ\Œš¯Q˜¯QŒZ¯ ¥zšxzŒ¯šx\z•¯Q šxŽ•zš¬¯†\£\†˜¯Q˜¯˜\š¯r—šx¯zŒ¯šx\¯0ŽŠ’QŒ©˜¯(©‰Q¥˜ ¯Q˜¯šx\¯˜QŠ\¯ŠQ©¯S\¯QŠ\ŒZ\Z¯tŽŠ¯šzŠ\¯
šŽ¯šzŠ\$¯
5-1
-=-0*$7 = œyRœ¯ Hv^–¯2^¯M€œ¯€¯y€™¯ VR“RV€œª¯e¯J^€–¯M€V^¯F–^™€[^œ¯ –¯A^R–[¯JRVy¯7–RV_™¯€¯y€™¯VR“RV€œª¯e¯M€V^¯F–^™€[^œ¯R–^¯y^–^Tª¯R¢Ÿy–€®^[¯R[¯[€–^Vœ^[¯ Ÿ ¯
< C\ušzQš\¯˜zuŒ
¯QŠ\ŒZ¯QŒZ¯š\—ŠzŒQš\¯Qu•\\Š\Œš˜¯zŒ¯UŽŒŒ\UšzŽŒ¯¥zšx¯šx\¯’ •’˜\¯Ž`¯šx\¯+ŽŠ’QŒ©¯r• Q††¯UŽŒš•QUš˜¯ ’¯šŽ¯

¯QŒZ¯QUšzŒu¯„ŽzŒš†©¯¥zšx¯ &†S\—šŽ¯:Q•UzQ¯3\¯BŽ˜¯'Œu\‰\˜¯Ž•¯?\•ŽŒz :\•£z††Q¯i‘•¯Q††¯UŽŒš•QUš˜¯zŒ¯QŠŽ Œš˜¯u•\Qš\•¯šxQŒ¯

Elecnor Belco Electric Inc.

Pa
ge 295 of 361
..

Item 9 Page 295 of 361

&f41c^4l/P4Q2l/Q2l?Q/MGj4l0F2lW[RWR]/L]lGQl1RQQ41^GRQleF^El^E4lWcYWR]4lR7l^E4l"RPW/QhlBYl/LL WYRWR]/L]lcWl^Rl

l/Q2l/1^GQDlIRFQ^Lhl eG^El
L04[^Rl(/Y1G/l$4l,R]l
QD4L4]l RYl*4YRQF
(4[dGLL/lCYl/LLlWYRWR]/L]lGQl/PRcQ^]lDY4/^4Yl^E/Ql
 

1^GQDlIRGQ^Mhl eF^El
L04[^Rl(/Y1G/l$4l,R]l
QD4L4]lRYl*4YRQGl(4ZdGML/l4g41c^4l/P4Q2l/Q2l @Q/LFj4
WcY1E/]4lRY24Y]l:VYlP/^4YG/L]l/Q2l4XcGWP4Q^lGQl1RQQ41^FRQleG^El^E4lWcYWR]4lR7l^E4l"RPW/Qh



1^GQDIRGQ^LhleF^El
L04[`Rl(/Y1G/l$4l,R]l
QD4M4]lRYl+4YRQGl(4[dGLL/l4f41c^4l/P4Q2l/Q2l^4YPGQ/^4 /DY44P4Q^]l BYl^E4lL4/]4l R7lY4/Ll4]^/^4l^Rl 04lc]42l /]lR=14]lRYlIR0lY4L/^42l^4PWRY/\ili/Y2]


1^GQDlJRGQ^LileG^El
L04[^Rl(/Y1G/l$4l,R]l
QD4L4]lRYl*4YRQGl(4YdFML/l4g41c^4l/P4Q2l/Q2l^4YPGQ/^4 GQ]cY/Q14l/Q2RYl0F2l0RQ2]l/YY/QD4P4Q^]lGQl1RQQ41^GRQleG^El^E4lWcYWR]4lR7l^E4l"RPW/Qh

1^GQDlIRGQ^Lhl eG^El
L04Z^Rl (/Y1G/l $4l ,S]l
QD4L4]l RYl *4[RQFl (4YdGLL/l EGY4l ]c]W4Q2l GPWR]4
]/Q1^GRQ]l/Q2l2G]PG]]l^E4l/2PFQG]^Y/^Fd4lW4Y]RQQ4LlR7l ^E4l"RPW/Qil]4^`GQDlBY`El^E4GYl4PWLRhP4Q^ ^4YP]l/Q2l1RQ2F^GRQ]l R0LGD/^GRQ]l /Q2lY4PcQ4Y/^GRQ

1^GQDlIRFQ^LhleF^El
M04[^Rl(/Y1G/l$4l,R]l
QD4M4]lRYl+4YRQGl(4YdGLL/l]4^^L4l/Q2l1M/GP]lRQl04E/L7 R7 ^E4l"RPW/Qi

    


 ^E/^l/LLl/1^GRQ]l E4Y4^R:UY4l^/K4Ql0hl^E4lR<H14Y]lR7l ^E4l "RPW/QilRQl04E/L7lR7l/Q2lGQl^E4lQ/P4lR7l^E4l"RPW/QhlY4L/^GQDl^Rl^E4l 1RQ2c1^lR7l^E4l0c]GQ4]]lR7l ^E4l "RPW/Qhl ^E4l4fW4Q2G^cY4lR7lPRQ4hl ^E4lP/KGQDlR7l1RQ^Y/1^]l /Q2l/LMlR^E4Yl/1^]l^/K4QlRYlRPG^a42lFQl^E4l W4YCYP/Q14lR8l^E4GYl2c^G4]l^Rl^E4l"RPW/Qhl04l/Q2l^E4l]/P4lE4Y40il/Y5lGQl/OLlY4]W41`]l/WWYRd42lY/^GA42l /Q2l/>[P42l/]lR7l^E4l2/^4l^/K4Ql2RQ4lRYlRPG``43lY4]W41^Gd4Lhl .E4l/1^GRQ]l^/K4Ql0il^E4l R/Y2l"RQ]4Q^l ]E/LLlE/d4l^E4l]/P4lBY14l/Q2l 4;41^l/]lG7l^/K4Ql0il^E4l cQ24Y]FDQ42l/^l/lP44^GQDlR7l^E4l R/Y2lR7l$GY41^RY]l2cLhl1/LL42l/Q2l1RQ]^G^c^42lWcY]c/Q^l^Rl^E4l!iL/e]lR7l ^E4l#RPW/Qil/Q2l^E4lL/e]lR7l_E4l-^/^4lR7l"/LGBYQG/l .EG]l R/Y2l"RQ]4Q^lP/hl04l4g41c^42lGQl1RcQ^4YW/Y`] l 4/1ElR7leEG1El ]E/LMl04l244P42l/QlRYGDGQ/L
l0c^l/MLlR9leEG1El^RD4^E4Yl ]E/LMl 1RQ]^G^c^4lRQ4l /Q2l^E4l ]/P4l 2R1cP4Q^
l




^E4lcQ24Y]GDQ42l04GQDl/LLlR7l^E4lP4P04Y]lR7l^E4l R/Z2lR7l$GY41^RY]l R7l'M41QRYl 4L1Rl&N41^YG1l)Q1
lE/d4l4f41c^42l^E4]4l/1^GRQ]l0hleYGab4Ql1RQ]4Q^l/]lR7l^E4l2/^4l7GY]^leYG^^4Ql /0Rd4l
kl

,cG]l
L1G0/Yl%GY61^TYl

L4g/Q24Yl
YYRL/l$GY41^RYl
Elecnor Belco Electric Inc.

Pa
ge 296 of 361
..

Item 9 Page 296 of 361

,ü%
,ü
=.
&-C[ü
<Ž &

üüüb
ñ;ü
#òü4v?2ü
ü
üü


ü
' ü ü#ü

üRÛü


üü#

¢



ü
$üddü£ü 


 !



"

"
üb

1ü-+ü
sé>

?+


H+
ü


üü

ü


ü
'!ü 5ü”^"


á3
O

"

3^"


S
"

$ü˜ü¿)))))üÀ


5ü 
2ü
ü




üü
ü
Áü 6œ/J I/B/"/e
///½/Š¾úù üÂP*ÒS**3û‚ ü*P*B *8*6(7(Z  r(8(G8(Y(8(8 J(Y(M(  (GrüÃ)))))ü

V

ð@2ü
ü

ü

ü


!ü üF#ü

ü>

$ü
K 

üü
k
ü

ü

ü
üü

ü

9
ü ü

ü 
ü,

ü




üüüüî

üü
ü
ü


 
L‘ &

ü



ü

 
!ü

üü


ü ü


;ü ü
ü
zü ü
ü

üü
ü
ü


üüüüüü
ü
Í

$
&Q.=._%=.ƒüü'

ü


'
üR
;ü9

ü
ü
µS
e
õqü
aÜü²

ü
P 3içqü
%C
`-¸
%
¤ü


ü 
5ü
ü




üü
ü
‹Z7M
°
O«3
¯
¬„•a­BGI®6
6 N~N*6*7üJ* MÄ7Å8ŒÉž–—
ÆÇ00000000Èü

V
?
€5üü 
ü
 
ü
ü
ü

ü
ó:üÝü!

üü#"
¥ü
ü
ü

üR
ü>g

ü ü
'


ü
 
ü ü ü

'
1ü üü


'
ü

ü
p

1ü 2ü

ü

üôÚ üüüü

ü
"üüü ¹
ü¶


ü3Îü
B i3üOÔÌü ,

ü
wü
6 xü ü

t

ü

ü?ü
üü
9
ü
ü

ü
âüº.
ü.=.
&ü4™Ayüü

@ü
ü 2üü
F
ü

üü

ü
¼
ü
üü -

$ü
&

ü 


ü-
üF#êü
ü¦ü cfËnälÕDü]DjèÊEÞߒü cåTü´DmjDTü\oE$†ü·nE$ü³mofTE“ü]\ü  









ü 
ü
ü
"



ü
=


ü-!
:ü
#
ü,

üü


üC



ü
+ü

7 šN7
Iü
»Q.ü%
,
&
%
ü%_ü&±
ü%
,uü%C
`-&
%
ü
ü&Q-&‰ü[ü4<ü


ü 
üü
ü
üü ü#ü

ü
 ü

h
ü

ü

ü !ü,

2üüüü
 üü


üÏü
ü4¡Aü



ü ü
üü ü

ü
ü#ü

ü>

1ü
ü
ü
üü
üü ü

ü

ü
U

üü
Fü"
ü
ü
üøŸ<A<ü
 üü

ü
"
!
ü
ü
ü
©üü4Hüü ü


ü

ü
üü


üü
Ö
{ü 1ü
ü

ü

ü
ü ü

ü


9
üü

ü

9
ãü ü
ü,


üüü
ü
 üü

9
ü

ü

ü4<Lü


 ü üÐ
ü

ü

|ü ü

ü
ü ü
ü

'
üüü

ü
ü
ü

 

ü
ü

ü üü


5ü
ü

ü

ü

k
ü ü#ü
ü

ü

h
}ü

ü


ü ü
ü




üü

ü
Xüü
ü


:ü

ü#ëü

ü
ü

ü
ügü

ü>

1ü 
ü

ü

ü

ü
Uö
ü

‡ü

ü
ü"!ü


ü"
ü ü' +ü
%


2üÓ×ü ü
üü

ü

ü ü


ü
ü

ü

 ü
ü ü
 ü
üü
ü §ü
›$ 
@ü
 ü

ü
ü ü
ü

1ü




üï5ü
ü
ü

!

üü
ü

ü
:ü!



ü÷ü@ü 
ü

ü

üü


;ü

ü

ü

ü


üü

ü
ü
ü+
H+
ü!
üü
ü


üü
ü
üü
ü
ü

ü
üüüü

ìü ü
Ø +
K$
ü
ü
üü
üü
ü
Uüü


lüü
#

üü


í
ü
ü
Wü
ü
üàüü
ü 
üü

ü


üWü



ü

:ü

ü ü
!
ü
ˆü
üüü

ü
üp
$
L$ 
ü


ü
üü
ü

üü

üKAü ü
Ñ
¨ü
ü

ü


'
ü 
üü


ü

ü
ü

ü



Xü


;
ü
üü
ü
ªüü
ü
Ùüæ
ü


ü' üü




üü
ü
+
Elecnor Belco Electric Inc.

Pa
ge 297 of 361
..

Item 9 Page 297 of 361
R¬ßlj|ß{nÇ|ßÁ|Ç߁¸¼Ç‰ßs| ³Õ
ßT¼¬w¹n¡ßn¬{ßXͼ|Ç×ß{Í ×ß|Ö|xÍÇ|{ßljÁß6³¬{
ßՑljßlj|߬n¨|ß³ß|nw‰ß¹n¼ÇÝßn¹¹|n¼‘¬
ßs|¡³Õßn¬{ßÁ
¬|{ß
s×ߒÇÁß¼|¹¼|Á|¬ÇnǓÓ|Áßͬ{|¼ßlj|ßnÍlj³¼Ç×ß³‚ß‘ÇÁß
³Ó~¼¬¬
ßs³{×ß

 



TWBQ9CT2L1ß
?¢}y­³½ß7}¢y³ß?¢}yȽ•y
ßD­yß




8Ù.K³Œ­ß
FÉ
Â,ß
a•y}ßU½}Ö{}­Èß
_”ǧ~ß
2{{¼|ÁÁ߄¼ßX|¼Ó™¬
ßQ³Çšx|Áß³¼ßRlj|¼ß=³wͨ|¬ÇÁ/ß
"
ß4¢u}½ÅßbpÛß;Œ•­³
ß;4ß)&
ß





X`W@^c+ß
M
—t|¼Ç×ß
O ÎÇÎo£ß E®Áϼo®w|ß:
´
©ºo®Øß






ß
Y”†¯Þ
8Ù-ßdeß Of—wfŠf|¤f¤|
3f
®ff¬f| fOfwgOho
i‹j´
®ßklllllßmß


GÉÄ.ß













 3 Çdz ¼¬|Ú˜ ®Ao wÇß
\”Ì
¤~ ß
2{{¼|ÁÁ߁¸¼ßX|¼Ó›¬
ßQ³Ç™w|Áß³¼ßRlj|¼ß=³wͪ|°ÇÁ/ß
NŸv¿ËÜßPÐÊÐq¥ßH¯Æоq±zß<µ«»q±Üß
5Ë˲0ßPœzq¦ßZ˝²ß
'*ß]ß<žÊÜß>¿ÔßZ¶Ñˎß[ҝËß ßSÀq±‡ß<5ß*
(#(ß



  

ß Iß Jß
   

)

/(

/
//
#/

//%/(
.//+/
/
/
/

,

/
$,

/
&/(

/
/!
-

/

/
/
/(

/
/


//

//*/
/

//
/
('//
"
//



Elecnor Belco Electric Inc.

Pa
ge 298 of 361
..

Item 9 Page 298 of 361


 

 


 



' &'!'' 
'


'
' '
 

'$


'&' 
'
  &'
' 
' $ "'%'
' 
'
"
 ' '%' '
 

'' 

' ' ' 
'
! 
!
'"
&'
'$  &'
'  ' #
 '
@—c—n­‡r­ %dwrˆ‘†xd­
&‡„—¢­‡r­¤­¥¦­
<
­§¨©­
"# fnr‡Œn­‚n ­

Hª­
 8ˆ–d“­=œg|j­

-
0 +
0 ),
+-0(
0)
0$-'
0*0-#
0!%
+0
>n”‡
c¢­cŠŠocol­ZZIZZZJJM­"
eb›K’L^!^'M;«¬




(

,0* 0&")
+
,0
u‡­Š‡Ÿol­—‡­‚n­‡
­—un­fc”y”­‡r­”c—y”rci—‡¢­pŸylo
io­—‡­fp­—uo­Šo”‡
”­ u‡”n­„c‚p”­}”cŽn­”f”izfol­—‡­
—un­ y—uz
­{
”—‚n
—­c
l­ci~
‡ nlsnl­—‡­‚n­—uc—­un”un—up¢­n¡piž—nl­—un­•c‚n­y„­uy”un—uoz­c—u‡y£nlicŠciy˜¢yo” c
l­—uc—­h¢­uy” uo—uoz­”zs„c—n”­‡
­—un­y
”—‚o
——vo­‹o”‡
”
­‡­—un­o„—y—¢­Š‡
­foucr­‡r­
uyiu­—uo­‹o”‡„”­ci—om
­p¡oi™ol­—uo­y„”—‚o
—
­
 &W
'
"%#W

AM(ISW!O-83.WTW)972AI>4*W
$+=W0F=,G/4>AWAP?NSW
UW A:;4JK5B@
W

W
VWCWW
SWA;< W RE6H1LWDQW
W
W



/­inŒ—yr¢­
ln­>*9#6E­<-­>+?5F?G­„lnŒ­—uo­€c ”­‡r­—unA—c—n­‡r­ —uc—­—uo­r‡os‡y„t­ŠccscŠu­y”­—n­c li‡Œoi—
­
'

0*-+/0@nc€­ *.



!# 
# #' #  # 
#
 #
#
 
# 
 ## #

! #
#

!
! #
 
 ## #
# ##! 

#

! #












By—n­‡­B¢Šn­‡r­)‡i‚n
—­NNNNNNNNNNNOPQ­)‡i‚n
—­)c—n­RRRRRRRRS ST­
:‚fn­‡r­>csn”­OONNNNNN­@zt
nŒ”­<—uo­Buc
­9c‚ol­#f‡Ÿo­RRRUUUUURRRRR­V­










@zt
o”­9c‚nWOONNNNNNNNNN­X­

&‡‹‡c—o­<rrzinCy—o”­NJJJJJJ­Y

>cŒ—
nŒ­
7zƒz—ol­
.n
nŒc

0
lyŸzlc­
#——‡„p¢­1„­-ci—

D”—oo­
.clzc
­‡­&‡„”nŸc—‡
<—unŒ­JJJJJJZZ[ZZZZ­O
@zs„nŒ­2”­?o‹n”n„—y„s­
,qj†ˆ‘­$qjˆ­
,

qjš‘|j
­ 3†j

@yt
o”­9c‚o­S SRRRUU
\U
\RRRRR­]­

&‡Š‡c—o­<rrzinBz—o”­
>c—
oŒ
7y‚y—ol­

.o
^ n^ ŒcJJJJJ­ ^­

4„lyŸylc­
#——‡Œ
n¢­y
­-ck—

D•—nn­
.clzc
­‡­&‡„•oŸc—‡
(‰—unŒ­JJJJJJJ_JJJJJJ­`
@}s„p­2•­?n‹Œn•n„—z„s­aNUNNNNNNNNN­b
Elecnor Belco Electric Inc.

Pa
ge 299 of 361
..

Item 9 Page 299 of 361
1-.=&@=F
?BCÁ5"Á¾2¿Á Á
Á¥¥Á
3G0DJÁ3#Á
9?#16
F
F
3-
).4+

$,
.@Á
3;Á
?G<
EK
?ÁF@3=.I
%/
!AÁ
6‡Á¨pt¦Á =$F cW»ÁhÁMNÁ2>37FFFÀÁ
Zfl‘™fÁ€fÁ
/=8DF=C9?F ˆWf¼
ÁWÁ.‘©W»Á8²[zu^Áh•šÁ¦WtdÁ‘³‰©»Á–f›¦‘ˆW{|»ÁW––fWšfcÁ
'% *+ F..F
%10F
ˆW‚f½ Á¸p‘Á –Ÿ‘·fcÁ¨‘ÁfÁ‘ŠÁªpfÁ\W¥t¥ÁhÁ¦W©t¦hW_«‘¤Áf·tdf‹^fÁª‘ÁZfÁªqfÁ–fš¥‘ˆÁ¹p‘¦fÁˆWƒfÁt¦Á¦´Z¥^Œ[fdÁª‘Áªpt¥Á wˆ§¬œ²„fˆ­ÁW¥ÁªpfÁWªª‘šˆf»ÁtˆÁiW^ªÁ‘jÁ (
!:?EF@=A)F
.<B;.
"F 4,5.EF FXcÁW`yŽ’º~fdnfeÁ©‘Á
fÁ©pY«Ápf¦rfÁ
¦²[¦ašv]fdÁªpfÁˆW†fÁ‘iÁOPPPQÁ 1R&ÁS
TUUUUUUUVÁªsfšf©‘ÁW¥Á—tˆ^w–W}
ÁWˆdÁpw¥pfÁ‘¸ˆÁˆWfÁ
W¥ÁWª©šˆf»ÁwˆÁhW^ª
Á
'Ábf£±tk»Áµˆdf›Á9.*ÁEKÁ7"Á:
<(H>LÁ²ˆdfšÁ©pfÁ~W¸¥Á“hÁ°pfÁ?ªW®fÁ”hÁWwi‘ ˆxWÁ«pWªÁ¯pfÁm‘žfo‘wˆoÁ˜W›WošW–pÁt¥Á©¡¶fÁ WˆcÁ^•¢Ÿg^°
Á

F

(
+ 
+



 


*+
#

$%
+
) "&+!'+++
Elecnor Belco Electric Inc.

Pa
ge 300 of 361
..

Item 9 Page 300 of 361







ƵÆ
̋!8E/<HɱR̋§oo
*̋Ɋ&&

̋
*̋Ǜoʟ̋R̋

*̋
*̋*ÛȃÇ
ü̋
»̋
*̋ì*̋
̋ʽ
Æő
̋
,27.HB1/H86:+7GH/F-/;AH3 7HA1/H6+77/=H+7.HB8HA1/H/FC/7BH1/>/47H@B+A/.H 

ƚƒǕ=ʓZ̋ƞMʦM)Ï̋ƈ+XMɺ)+c=̋^ki‹)+Z̋
ƶÄ=̋°Äƒk̋^)XM)ÏåZ̋Ɖ+XM)+c=̋^ki‹)+Z̋
ƾ=Xå̋ųi=ƒc)+̋Ɗ+XM)+c=̋^ki‹)+Z̋

K
șe
̋¯Ũ̋


Hˢ̋


H
 




 'H

H!"# #H)Hx«`Ʊ`̋!"#$#
H´
̋x
̋Q
̋
/̋¬

̋̋
̋̋ʐhɶ̋
̋Ȼ
̋

̋
̋

̋̋
̋

̋̋ ¯
̋Ɔ


˜̋̋
®6Àʆæ̋3
ʿ̋2


̋̋ ̋̋8
̋
̋×
ï
̋

̋
̋
ˏ̋̋
̋ 
̋̋3

¹



̋̋E
̋
Ȉ
̋Ƌ


̋̋
̋̋ǮW̋
̋@
0}̋


̋G
̋
 ̋̋
̋ 
̋̋2
̋ú


̋dJ


̋e
̋
̋ó

ôû1̋

̋
̋̋̋
>
L̋

̋

̋ÞA̋ɴ
̋

̋
™̋


̋̋?
A̋ ŸV7
Vl̋
µ8ɷ<l,ý̋ƀVŒ,˝4̋DɩȼǞ5£̋Ƃ½7,ʖ̋³,<ˌ5l,þ̋Ɛǻ7ˆ‚ÁȂŽ̋ƃ8FǟǠİ̋ƒVɚlj,5ˆ̋ƄǼ5àɪ‰ÿ̋Ƒ8àˀ4̋Ʋ5‰ÁɰɻFĀ̋ƕ4,l˔7̋ƫÙ˕VÙā̋Ɩ˖'<̋ µȨ'ɋ‚NJɔʚ]̋DÈǡ<½̋Ŵ‰7ǽ̋DǢD487Ă̋ƣȩǣ8ɂ5á̋
D‚<A̋±Èǜ4F̋ƅ4ǝɀ7<ŒĮ̋±8ǔ˒ə̋³4<˓į̋ư5ɹLj̋DʾŒʮ5̋ ‡̋̋
̋ǫ ̋̋ Ƈ4Ž,ȚŽF̋


̋̋ Žƻ̋
̋ȪǺȫˁɌ
̋UȎ̋
ɼ
̋$̋
̋

̋Õ
̋
¼ă̋

̋L(ê
̋Ƕ̋!Ã
‡̋ɒ
Ě
N̋
̋
ı̋

"~
.
p̋ʣɃĄ̋%

̋̋
Ʉ

s̋̋̋̋
̋
!̋
̋


/̋̋ ̋
 ̋̋̋

»™̋̋̋

&
 -̋¸ 1̋ȅȬ˞

̋̋
̋



̋U
t̋
̋

%
̋
̋L
ä̋


̋̋
$̋
̋

̋
̋

̋ɘ6
̋ ̋
R̋

̋
̋$
̋˧Ʌ̋


̋̋
̋



̋̋


̋̋

̋

|
”̋̋

̋


̋&̋

̋̋
m̋

ʒ ¡̋
H'$##H'" 
H
̋#
̋̋
.ʉ
̋
̋
ȋ̋
 Ǵ$̋̋̋
×h0
̋ȓ;̋̋Ȕ!̋̋
̋

̋̋

̋J?

̋
 ̋̋
G
̋

̋
̋

̋ST"
̋
G

̋
̋ BŔ7F̋ ̋̋ ŵçȜèʛ,̋ 9̋ BŇBŜ̋ ű
ƛ

W̋3
é 2

̋̋
Ʒ
̋Q̋

L̋2


̋̋
IJ̋—̋


  
©ì6f̋3P̋
˗¢̋
É


̋


%‘
ʗ̋
˨̋˩̋˪˫ˬ
Ů

ŭ˭ˮůŰ˯Ţ˰
ō˱
˘̋ ʞ̋
ð̋
ě˲̋
Nj ˳̋   Q̋

̋ BBˆF̋ ̋€̋ Ŷèȝçá,̋ ij̋ ŕňBŝ̋ $>W
̋
̋


̋

̋ª
̋
H
1̋̋'

̋Êä̋̋
̋

̋

ɛ
̋

̋̋Ɯ$.̋3

̋2

@;̋œ˴


ɜ9̋Ƽ
̋Q
̋


̋Ź1̋̋E

̋
Ȍ
ǩ̋a


̋-̋̋
̋
p̋
̋
9̋

̋
8Ü0
̋
̋
̋Ĵ̋
"
%

̋

̋ȉ̋
 

̋̋Y
̋
ʏ
̋ ʠ
Ɠ̋LJ̋ 

ȭj̋

̋̋
̋̋

̋̋

̋ǯ•† ̋̋
̋
̋̋

̋
@
0
̋ȕ
P̋
˵


 

H'%##H'" Ha̋
̋


̋


|
$̋̋
̋̋Â"
̋̋
̋
'̋
̋#'Ó
G̋3

t̋#
 '
ą̋̋
̋̋ɨ̋
̋T

̋
̋(U

ĵ̋ ˶
œ
Ĝ







" " 

"


"



"""

!" ˣ Ń Ƹ¾ɽȁãz̋Ƭzâʰ¾ɆÑzĆ̋Ƥɳʷʙ̋ƭ˂ǙɏȺ̋ ę̋ Ƿ̋
 Ƣɧʧȟȍ̋žɝɑí̋ ƏƌƗ Ņõ̋ćĈĉ
›
ŀė̋ 


Ʀĝ ƟíDzȮâʥ¿ːɸȯɾ¿ʜƠnjɿǨȦ¥ťĶ¥ʼnŖŠ̋ ¨îũ̋ ˷̋


Ǥǂ̋—̋ źɲɗÒȰãʤ̋ɞ˃Òǚʀ̋Ŏŏŗţ̋
\
ĕƹ
˸q

#ǃ¶
¶
q


sĞ
ƥqDŽ·ʇ·Ʈy
y y
̋
::::::
:bbbbDž̋Ċ̋
 





 


´

̋#
̋̋

>Ý
̋

̋
̋̋
"


̋
(

̋I̋̋̋
@6
̋̋
̋!̋CŸ
 ̋ɟ̋

ȸïǓ
 ̋̋x
̋Q6̋ ˊ̋a
ʈ
̋j˚ ̋

æ̋3

a
;̋ø̋˹
˺̋
£Ƴdž̋-̋̋E

̋

(Ëe̋¬

̋̋̋




̋
̋̋̋–̋;̋̋

̋

̋ ̋'ɓ Ū̋ ˻̋

ð̋
"$
H&Hğ "#H

̋ŐŘķ̋#
̋̋
ʨn
P̋ ˼̋˽̋ ń̋ —̋
̋Ȗ%
̋ 

̋ÂÃ
Ǭ̋̋
̋Ðȱ̋
W
0
̋̋
Ƞ
̋
?
̋&̋Ü
̋̋
̋
̋̋/
̋#



š̋̋

Î
̋I̋
%̋Ȳ
.

̋ ̋

̋ȡ
̋̋ʸ
̋#


̋ ǖ̋˾̋

Ƨ̋ ̋
m„
9̋ ɍ
̋
̋


ž
ŸI-̋
̋ 
̋

”̋
̋̋
̋$
̋̋
̋
̋Ð̋
ċ̋
"
º

Č̋

A̋


̋̋


̋ ̋


̋̋̋!̋







 1̋
č̋
DZ
0
̋̋

̋

@

̋



 v̋ ˄H̋Ý
 N
ĠĿ̋
Ƚ

̋
̋/
̋Ë>
̋
̋’
H̋
ɠ̋H

̋
~ʺ
̋
( ̋̋ʊ
[̋
!
̋
̋
Ɏ'̋˿̋
 Ŋ̋ ʴ̋ ?
̋̋
̋

̋J
̋̋
H

̋



̋̋
"
º
̋̋̋
̋
 



̋̋
̋/̋

̋
̋

̋

̋?ÌűE
̋
̋
"


-̋
ê̋

Ú



̋



 $̋
̋†
̋
̋
ȑ̋


̋̋.
̋#


̋̋

̋̋̋

̋

¤̋
̋Š
̋̋
̋ /̋

̋
̋̋





̋̋
.ʋ
ġž̋

̋

̋


̋̋ȳ ̋ ñ̋

%

̋̋
̋

̋̋̋

̋̋Å
̋CĎ̋
À̋
@js̋
̋#


̋̋̋
̋ȗ
̋̋T
n
̋

̋
̋Jˍ
̋̋
(

ĸ̋ ̀̋ ́̋
"$
H(Hr F/-DA597H80H97B?+-B@H
%
j̋šĹ̋


̋CÔ ̋̋ƽ
Þȷ P̋

̋T;̋̋Y
̋̋
0
f̋̋
̋
ÛØ

̋
̋

̋̋
̋Ǫ
̋ʁ̋

̋



p̋̋
ǘÎ~̋
̋

̋!
ɕ



 ̋ ̋ʹ
̋
̋̋

̋

̋̋
ʢ$š̋
!̋؄̋ ˅{ȧ̋K“
 N
N9̋
̋̋$̋Ȅ
̋
̋
̋U
̋
̋̋

̋Õ̋
̋Ɂg-̋
ˑ
dë
ĺ̋

‡]̋Š
f
̋ÖǸ̋



Ú̋ ̋

/̋̋̋

ß
Ļ̋
¸ ď̋Ȇ
0


̋ɡ̋ʩ
̋


̋
hKȹɫɢ P̋
{̋Y
ʌ
 ĢN€̋
Ⱦ
ǵ̋
̋Y
̋Ê&ʶ

>
̋ʝ
K̋Sʔ̋É
̋
̋n

Ç
̋ˎ
ʅ ̋̋K.ʍ
Đ̋
!̋ˋ
̋–̋
‘̋
̋hɣ̋
̋
Ó̋̋
̋


̋̋
"
ǧˉ

̋̋̋
ˆ̋Í I‘

I ̋̋I̋
̋


̋
̋
'̋̋LH
̋ļ̋E
̋ ̋
"


̋

%̋

nëg

̋ 

̋
̋
̋
̋
̋Í̋

}¼̋̋
̋

†

̋̋ʼ

̋̋
̋

’

”¡̋
Ż*ʕ&R„ǥ
*̋R̋ſ*
&Ȟ
&
̋r ƺ
̋#



̋̋
H
̋A̋̋
@
̋̋
̋C
̋̋
̋˜̋

˟

̋©
̋ơĽ̋
đ̋

̋
dz

ʘ̋̋?
̋

Ȣ̋Y

ĩ
ˡ
dɇ̋
̋̋
̋
;
̋̋̋̋

̋̋
̋̋̋
-̋
"


¢̋
9̋Š

̋̋


̋ ̋

̋̋Ô̋Ǎ̋

(•U
-̋
1̋
ɵ0

̋̋
̋

̋
!6L ľ̋
§–ʱˠ
&
̋r C̋


̋>
̋̋
̋˜
̋Cʂ̋̋ª

 ]̋
̋̋ǭ

 ̋̋

̋̋

e

̋
>

̋ Ì

̋̋̋


̋

|
.m̋̋G
̋
9̋


̋
(
̋
?̋̋
m
&T
̋ǰ̋ȏ̋̋Jǁɯ̋ņ̋̂öʲ/ŧ̃
̄̋ȿ

ò̋̋
̋̋
̋
̋
̋

̋
A̋

̋
̋̋
̋
̋
̋̋
/̋

̋

̋S
̋f̋

̋ ̋
̋

̋Ș"
ű ˤ̋ ˥̋
2-̋²


̋v̋Ɲ


!
ɤ̋ 
̋




]̋


̋
’Ǿ
ʃ˙1̋÷ȣ
̋ƨʯĘɬ̋ż̅ƔɈ˦Ĕǒ
.˛̋!
ˇǐɖ%}̋[̋ $ß̋3

 2
%
̋1̋
̋E

̋

(
̋2

;̋̋̋


̋
(
6€̋
̋
Å
̋W

̋
̋̋K“
̋̋ȴ¹̋•Ȥǿ̋ȐȊù̋
̋̋S
'
[̋ɉŁħ
̋̆ʻ̋ʳʑ
̋dJ̋̋
̋#
̋̋

“
̋
"
{é
̋̋ʡ
̋

t̋ ̋
̋ț̋
̋ ̋


̋ɥ̋

̋̋g
̋

v̋
H$#$
*Hƿ«`Ư`ƩƁĒ̋ƍ̋ȥ
̋
g

̋

̋ ɦǹ̋ǎÖ̋Ȓʵȇ̋ɐʭʪĭ̋ūȵ
Ǐ ̋̋ 6̋űʎǑ


̋
G

̇̋̋S̋ °ǦʫɭǗȀʄ̋ řŋŚŞ̋
¨î
Ŭ


̈

 ̉ĖłīĪ ̊ ē\\›
ĦŲ\ĬOOOOOģĤĥ ²


̋¤̋®'

![̋


̋
%(

̋
ƘwƴĨő¦ŦŤş̋ƙwƎ_̋ƪ­_̋ǀŷ­_̋wˈÑʬȶ̋_ɮ̋Ō¦œśŒ̋
Elecnor Belco Electric Inc.

..

Item 9 Page 301 of 361









 


Y]KGWNcG`OZX

Ù L¬Îٟz§ÏÙσzµ¾Ù‹z¾ÙϬɲ٬µŠ{§ŽÓzÁŽ¬§Ù~ƒƒ¥Ù§Ù~ʾŽ§ƒ¿¿Ù{¾Ù{ÙH¬§Â³{¬´FÙ;

05;

%Ù M¬Îٟ{¦ÐÙσ{µ¾ÙŒ{¾ÙϬʲ٬µŠ{§ŽÓ{¬§Ù~ƒƒ¥Ù§Ù~Ê¿Ž§ƒ¾¿Ùʧ‚ƒµÙŽÃ¾Ù¯µƒ¾ƒ§ÄÙ¦z ƒEÙ7Ù ;16;

&
Ù b§‚ƒ´ÙΌ{Å٬ŒƒµÙ§zŸƒ¾ÙŒz¾ÙѬʵ٬³Š{§Ô|Ϭ¦Ù¬¯ƒ³{ƒ‚FÙ (,;$%2"; *Ù P
ÙϬʳ٬»Š{§ŽÓ{¬§Ù¾ÙzÙ¬µ¯¬³zŽ¬¥Ùz¦¾ÎƒµÙŒƒÙ†¬œš¬ÎŽ§Š:Ù

-Ù Izƒ٬†Ù§€¬µ¯¬¶zŎ¬¨¬µŠz¦ŽÓzŽ¬¦;Ù
y. d
d1
d
d8Ød©Ù
jjjjjjjjjjÙe
!-'Ù
^Â{Ã٬†Ù
‘¦
¬¶°¬¶{
’¬¥
¬²
Š
{
¦
Ž
Õ
z
Ž¬
ª<Ù

&#-

)
:#;;;
"-+Ù H¬µ¯¬´{ŃÙQI٧ʠ~ƒ¶=Ù
fgRÙ9h6h(h/,h4ÙxxjjjjjjjjjjjjÙiÙ
#-0Ù W{¡ƒÙ¬‡Ù[·ƒ¾Ž‚ƒ¦Â>Ù

'
39-;4#;J„Ù .7;
*

&
8;
!-2Ù GŠƒ§Âن
®¸Ù_ƒ¼ÍƒÙ¬†Ù\²¬ƒ¾¾>Ù

/
!+
-
* ;;;
0Ù S†ÙϬʳ٬³Šz§ŽÖzŏ¬¦Ù¾Ù{Ù¯{³È§ƒµ¿Ž¯Ù{§¿ÎƒµÙƒÙ ¬š›¬Î“§Š>Ù Ù I{Ń٭†Ù¬µŠz§ŽÓ}Ǝ¬§†¬¹¢}Ǝ¬§?ÙjjjjjjjjjjjjjjÙjÙ $0'Ù aϯƒÙ¬†Ù°z´Â§ƒµ¿”¯Ù
•ˆÙz¯¯šŽz~šƒ@Ùk lllllllmnkÙoÙ 0*Ù W{Ÿƒ
¾Ù¬†ÙŠƒ§ƒ³zšÙ¯z½§ƒº¿AÙjppppppppppppÙqÙ
00Ù V¾ÂÙzšÙ¾ÅzŃ¾Ù–¦ÙΌŽÙϬÊÙz³ƒÙ´ƒŠ¾Âƒ¶ƒ‚Ùz§‚Ù¿Â{ŃÙTI٦˟~ƒµ¾Ù†¬ºÙƒ{BÙ 2Ù
U†ÙϬʴ٬³Šz§Ž×{ŏ¬§Ù¾Ù§‚Í—‚Ì{žšÏ٬Χƒ‚Ù{§¾Îƒ´ÙŒƒÙ†®š›¬Î§Š>Ù 3Ù I{Ń٬†Ù¬»Šz«ŽÓ{Ǝ¬§>ÙrjxjjjjjjjjjjjjjjÙsÙ
$2)Ù W{£ƒÙ¬†Ù¬Î§ƒºCÙ
tuvvvvvwxxxxjjj
jjjjÙyÙ
5Ù O
ÙŒƒÙ†¬³¤Ù¬‰ÙҬʴ٬´Š{§ŽÓ{ď¬§Ù˜¾Ù¬ÅŒƒµÙǍ{§ÙŌ¬¿ƒÙšŽÀтÙz~¬Íƒقƒ¿»Ž~ƒÙŽÆÙz§‚Ù¥{ŸƒÙŌƒÙ ±¶™§Ž¯zš¾DÙ

Elecnor Belco Electric Inc.

Pa
ge 302 of 361
..

Item 9 Page 302 of 361
# ><23CP:î 9
$ î ?{ÈÌî‹ÝµyÉez`Í{®¦Èî{¦îävy`vîæ®Øµî®ÅsY¦{èYÍ{®¦î{Èî”isY–•æî´ÝY–|n{ieî
_ÙÉ|¦iÈÈ î
}¦e{`ZÍiî¶is~ÉͽYÍ{®¦î®¶î
”{`i¦Éiî¦Úž_i¶É
îZ¦eî`ZÍit®Çî®nî”`i¦Éi
îŠnîZ³³˜y`Z_”iî






$$î ?yÉÎîŒÛ¶{Éfy`Î{®¦Éîy¦îävy`vîæ®Ü¶î®¶sZ
¦yéZÌy®¦
Éî³YƦi·Év|³î®¸îϹZfiî¦Yžiîíî q{”ieî


$&î @yÈÌîZ¦æî˜{`i¦È|¦sîÉÙɳi¦È€®¦ÈîZ§e®ºîâ{®”YÐ{®¦ÈîYÈÈiÈÈieîYsY{¦ÉÍîæ®Ý¶î®¾sY¦èYÍy®¦îä‚Ïw{§îÍviî³ZÉÍî o{âiîæiZµÈî
D­¨jî
& 4WH5M:6E26
'!î A{ÉÎîÌviî`YÏis®¶€iÉî®oîU®¶îÍvYÏîæ®Ýºî®¶sZ¦{êYÍ{®¦î¦®¶žY–”æî³i¶r®¶žÉîä{Ïvî|ÏÈî®ä¦î³iµÉ®¦¦i”î 7›kaÑ»ƒb[™îXT¯»‘î &%î G¦îÎviî6å³i¶{i¦`iî8®¼Ÿ
î–{ÈÍîÌvi®Œi`Îî{¦n®¾žYÎ{®©îÍvZÍîiÈÍY_”{ÈviÈîÏvYÍî0{eei¶îžiiÎÉîÏviî iÈÈi¦ÍyYšî¶i´Ý{¶i i¦ÍÈîq®¶î´ÝY”{oy`YÍ{®¦îÈiÎîn®¶Ívî{¦îÍwiîBZ¦eZÏ®ºæîLÙZ”{n†`YÍy®¦Éî³Z¾Yu¶Z³vî ®oîÏviî ®Î{`iî:¦ã„Ïy¦sî1{eÈîp®µîÍv{ÈîI¶®i`Ï
î
&&î G¦î Zî Éi³Z½ZÒiîÈviiÍ
î ”{ÈÍî³¾®Ži`ÎÈîÍ®îäv{`vîæ®Ý¶î p{¾žî®¿î_ÝÈ|¦iÈÈîvYÈî_iiªîYäY¾fifî Zî s®ãi¶¦Ÿi©Îî`®¦ÍºZ`ÍîÈ|¦`iîç®Ýºîo{ÀŸî®¶î_ÝÉy©iÉÈîvZÉî_ii«î{§îiå{ÉÎi¦`iîs â{¦sîÎwiî¦Zžiî
Y¦fîYef¾iÉÈî®pîÍviî³¾®i`Ï
îÍviîs®ãi¶¦¡i¦ÎîYsi¦`æî`®¦ÎY`Íî¦Zžiî\¦fî³v®¦iî¦Ýž_i¶îÎwiî `®¦Îº\`ÍîZž®Ý¦Í
îZ¦fî`®¦Í¶Z`ÍÈîÈÎZ¶Í{¦sîfZÍiîY¦gîi¦e|¦sîfYÍi
îJ›l]ÊlîOllî-ÓÓ]cxlhî î
&
(î G¦îZîÉi³Z¶ZÍiîÉwiiÔîœ{ÉÔîÎwiîiå³iÁ{i¦`iîZ¦fiÈi¦Îî`®žž{Í¢i¦ÕÈî®nîÍviî’iæîy¦f|ã{fÙZ”Éî®oî æ®Þ½î°¶sZ¦‡ëZÎ{®¦
îK›m]ËlîOllî-Ö×^dxlhî
(
2?.;BP,î?.VPS:QP,î2N
<B;E.=î/2RP
8®½îÍviîn²””®äy¦sî´ßiÉÎ{®¦É
îÎwiîÌi¶£îì®ä¦iÂîf®iÉÎ`”ßeiî®ä¦i¶Éî®qîÉÍ®`“î|¦îæ®àµîo{äî{nîæ®á¶î o{¶žî{ÈîYî³Ý_–{`æîͶZeifî`®¶³®¶ZÍy®¦
î
)
"î <¦îÌviî³YÈÍînˆãiî*î æiYµÈ
îvYãiîæ®Ù
îæ®Ù¶îo‰¶žî®¶îZ¦æî®nîyÍÉî®ä¦i¶É
î³Y½Í¦iºÈ
î®po{`i¾Èî ®¶î
i¥³”®æiiÉî_ii¦îZîfini¦eZ¦Ïîy¦î`®ßµÍ
î³Y¶Í{`{³YÎifî{¦îZ¦îYÄ_{͵YÏ{®¦î®½îžie{ZÎ{
®¦îZî
ŸZÏÎi¾î¾i”YÍifîÍ®+îF±î
Elecnor Belco Electric Inc.

Pa
ge 303 of 361
..

Item 9 Page 303 of 361
ÓÔ



ZԑÔ
;L 99LEÔ
<L 9;NTÔ<L 9;TLÔ<L 9;TQÔ<L
9EHLÔ<L
9ENQÔ<L 9EO9Ô<L 9EOEÔ
;L
9EQ9Ô
<L
9EUHÔ
=L 9KE>Ô
;L
9HEQÔ
;L
9HEQ(HÔ;L 9HEQ
NÔ;L 9HEQOÔ
;L 9EQQÔ
<L
9HEQ ;LÔ<L 9HEQ4;NÔ
;L9HEQ9;OÔ
;L
9HEQ9;QÔ
;L 9HEQ#9;TÔ
;L 9HEQ9;UÔ
;L
9HEQ9E9Ô
yÔL 9HEQÔ9EÔqÔ
;L 9HEQUUUÔ
;L
9HL;Ô
;L 9HN9Ô;L 9HNHÔ;L
9HNNÔ
;L 9HOUÔ
;L
9HQNÔ;L 9L<QÔ;L 9LEEÔ;L
9LHEÔ
>L
9LOOÔ
>L
9LQHÔ
;L 9LQH
99<Ô;L
9LQH99EÔ
;L 9LQH99HÔ
;L
9LQIÔ/99LÔ
;L9LQH+99NÔ
;L 9LQHÔ99OÔ
AL
9LQJ
99QÔ
;L
9LQH99TÔ
;L 9LUOÔ;L
9LUQÔ;L9N9;Ô;L 9N9LÔ;L
9N;LÔ









 


¥‚_\²Ô‘VŒ_Ô „\V²|‘Ô
l’´`¦­`\µmž’Ôm¡¦žÂ`Ž`’µÔ½’nµÔ<NÔ\o¡p­µŽÔ „ž­ÔW’f`
`­Ô
Ã`­µ­n^`Ô½’mµÔEÔ­`¦o`­ÔµžÔŽ½„µo¡„`ÔhÂÔ\ž’ÆÔ „ž­ÔW’f`
`­Ô
Â`’q\`Ô^½W„Ôdž¦\`ԎWr’Ô „ž­ÔW’f`
`­Ô
¶¦W\µÔ<Q9NQÔW’^Ô nÔQNQEÔ \ho’žÔ
Wµ¡Ô­Wd`Ô¦ž½µ`­ÔµžÔ­\hžž„Ô „ž­ÔW’f`„`­Ô
´¦W\µÔ;UUULÔ[„ž\ƒÔLÔ­µ¦c`µÔsŽ¡¦žÂ`Ž`“µ­Ô \ht’žÔ
`½\„o^ÔWÔÂ`Ô­µ¦``µÔÔ´¦Wddm\ÔoŽ¡¦žÂ`Ž`’µ­Ô \hm’žÔ
¢m’`ÔWÂ`Ô­·¦``¸ÔoŽ¡¦žÂ`Ž`’´­Ô \hm’žÔ
`’hW’\`^ԎµWÔ­`\½¦oµÇԄofhµo”gÔ „ž­ÔW’f`„`­Ô
µWÇ
ž¦ÔÇW¦^Ô[mƒ`ÃWÔÇp¡`^`­µ¦mW’Ô[¦m^f`Ô „ž­ÔW’f`„`­Ô
^NÔW­´ž¦Ô \W^`’\`Ìͦ`[„`ÔW’^Ԏ`¦ÐµÔ Ï©Âw•`Ô
¦\Ž½Ôdm[`¦Ô ž½µ­m^`Ô¡
W’µÔdžÔ’`µÃž¦ƒÔ ¦W’\hžÔ\½\WŽž’fWÔ
¦\Ž¾Ôdm[`¦Ô
LHEÔ[W\ƒ[ž’`Ô ¦W’\hžÔ\½\WŽž’fWÔ
¦\Ž½Ôdo[`¦Ô µh`Ô¦žÃÔ ¦W’\hžÔ\½\WŽž’fWÔ
¦\Ž½Ôdm[`¦Ô
^WÇÔ\¦``ƒÔ ¦W’\hžÔ\½\WŽž’fWÔ
¦\Ž½Ôdq[`¦Ô ´h`Ô¦`­ž¦µÔ ¦W’\hžÔ\½\WŽž’fWÔ
¦\Ž½Ôdm[`¦!ԎWǵ`’Ô[½­o’`­­Ô¡W¦ƒÔŵÔf¦``’Ô ¦W’\hžÔ\½\WŽž’fWÔ ¦\Ž¿Ôdm[`¦Ô Ã`­¼`¦’Ô’WÔ´ž’W
Ô[½m„^`¦­Ôµ¦Y~„`¦­Ô «W’\hžÔ\½\WŽž–fWÔ
¦\Ž½Ôdo[`¦Ô LHEÔdm[`¦Ô[W\ƒ[ž’`Ô[½o
^ÔW¦\hm[W„^Ô ¦W’\hžÔ\½\WŽž’fWÔ
¦]Ž½Ôdm[`¦ÒÔ^mWŽž’^Ô\W¦^Ô ¦W’\hžÔ\½\WŽž’fWÔ
¦\Ž½Ôdm[`¦Ô hWÔÂ`’Ô­¤½W¬Ô ¦W’\ižÔ\½\WŽž–fWÔ
¦\½Ôdm[`¦Ô
QµhÔW’^ÔTµhÔ­µÔWžÔ­ŽmµhÔ ¦W’\hžÔ\½\WŽž’fWÔ
¦\Ž½Ôdm[`¦ÒÔhžŽ`\žŽm’fÔWµÔµh`Ô¦a­ž¦µÔ ¦W’\hžÔ\½\WŽž’fWÔ ¦\Ž½Ôdq[`¦ S<UUÔhWÂ`’ÔWÂ`&ÔjWÂ`’Ô\ž½¦µÔ ¦W’\hžÔ\½\WŽž’fWÔ ¦\Ž½Ôdm[`¦Ô `Å¡
ž¦Wµž¦ÇÔÞ¦ƒÔ ¦W’\hžÔ\½\WŽž’fWÔ
Â`’µ½¦WÔ[„Â^(Ô
ž­ÔW’f`†`­Ô
­¡„n\o’fÔW’^Ô´`­µq’fԞdÔdo[`¦Ôž¡µm\Ô\W[‡`Ô ¡W­W^`’WÔ
½’m´`^Ô¦ž\ƒÔm’µ`¦­`\µnž’ÔmŽ¡¦žÂ`Ž`’´Ô m¦Ãm’^W
`Ô
­½’ƒn­µÔ`
`Ž`’¹W¦ÇÔ­\kžž„Ô W’Wh`mŽÔ
ŽWn’Ô­´+Ôq¡¦žÂ`Ž`’µ­Ô
ž­ÔW’f`„`­Ô
Äq„­hq¦cÔ[
Â^,Ô
ž­ÔW’f`„`¯Ô
­W’Ôd`¦’W’^žÔ¦^,Ô[mƒ`Ô¡WµhÔ¡hW­`ÔHÔ
ž­ÔW’fb„`­Ô
f¦W’^ÔWÂ`-ÔW’^Ôfž„^`’Ô­¡¦m’f­Ô^¦Ô o’^½­µ¦ÇÔ
­W’Ô¡`^¦žÔÃWµ`¦d¦ž—µÔ[`¦µh­ÔSL TLÔ
ž­ÔW’f`„`­Ô
­W’Ô¡`^¦žÔÃWµ`¦d¦ž’´Ô
ž­ÔW’f`„`­Ô
ž’
\W„„Ôµ¦Wddm\Ô­mf’W„Ô\ž’­µ¦½\´nž’Ô
ž­ÔW’f`„`­Ô
\`­W¦ÔWÔÂ`ÔW´ÔW„ŽWÔWÔÂ`Ô `W­µÔ
ž­ÔW’f`„`­Ô
¡žµ¦`¦žÔf¦W’^`ÔWÔÂ`ÔWµÔ^`„ÔŽW¦ÔWÔÂ`Ô ­W’ÔfW[¦o`„Ô
`W­µ`¦’ÔWÔÂ`ÔWµÔ\oµÇÔµ`¦¦W\`Ô^¦Ô `W°µÔ„ž­ÔW’f`„`­Ô
\Ç¡¦`­­Ô­µÔW´Ôm¦Ãm’^W
`ÔWÂ`Ô n¦Ãz’^W
`Ô
ho„„\¦`­µÔ¡ƒÃÇÔWµÔ[`¦Ç„Ô¡„W\`Ô \W­µWo\Ô

±µÔ­»ÔWµÔŽW¦nW’’WÔWÂ`Ô `W­µÔ„ž­ÔW’f`„`­Ô
dWo¦f¦žÂ`ÔWÂ`ÔW´Ô­W’^mWÔWÂ`Ô „WÔ¡½`’µ`Ô
\žŽ¡µž’Ô­´ÔWµÔ’W^`W½ÔWÂ`Ô \žŽ¡µž’Ô
ÂWˆ„`ÇÔ[
ÔÂ^2ÔWµÔW
Žž’^ÔWÂ`
Ô´¦Wedm\Ô­nf’W‹Ô dž’µW’WÔ
µ¦Wdd}\Ô­mf’W„ÔW’^ÔW^WÔnŽ¡¦žÂ`Ž`’µ­Ô ¡W„ŽÔ­¡¦m›f­Ô
hÃÇÔ>TÔW’^ÔW¡¡„`ÔÂW

`ÇÔ¦^+Ô W¡¡„`ÔÂW„„`ÇÔ
¦W’\hžÔ^mWŽW’´`Ô h`Ž`µÔ
`½\W„Ç¡µ½­ÔWÔÂ`'Ô­µ¦``µÔmŽ¡¦žÂ`Ž`’µÔ ž’´W¦mžÔ
£ÉÎÊÔ{ÔÑËPÔ
BG8GBD:GGÔ
²³V„Ô
\‰|_‘²Ô \‘²¥V\²Ô
ÁV„€_Ô
\q´ÇԞdԄž­ÔW’f`„`­Ô LONÔMTEHEÔ\mµÇԞdԄž­ÔW’f`„`­Ô EÔEQUÔ9QL99Ô ÂÔW^’nW­Ôµ¦`’\h„`­­Ô­`¦Âo\`­Ô L9;ÔH;Q99Ô
W„
ÔWŽ`¦m\W’ÔW­¡hW„µÔ LNNÔER<N9Ô
­½„„ÇԎm„„`¦Ô\ž’µ¦W\´m’fÔ nÔ UNQÔT9999Ô
W„
ÔWŽ`§u\W’ÔW­¡hW„µÔ ®UNOÔUTL99Ô
W„
ÔWŽ`¦n\W’ÔW­¡hW„µÔ HOUUHU99ÔW„
ÔWŽ`¨v\W’ÔW­¡hW„µÔ ELHÔLLUOOÔ
\mµÇԞdÔ Šž­ÔW’f`„`­Ô NHTÔLQE99Ô
ž¦´mÈÔ`’µ`¦¡¦m­`­Ô m’\Ô >ÔO9OÔ99999Ô
W„„ÔWŽ`ªm\W’ÔX­¡hW„µÔ UUÔ;OF
9UÔ
\oµÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ ®9
99Ô
\o´ÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ ®NNxÔ 9HH
H<Ô\o´ÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ ;TLÔTET
UNÔ
\o´ÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ H<UÔEHU;TÔ
\o´ÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ NHOÔL9UH<Ô\o´ÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ EOÔHLN Q9Ô
\o´ÇԟdÔ¦W’\hžÔ\½\WŽž’fWÔ H"N9>E9Ô
\oµÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ ;EE5L9HQNÔ
\o´ÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ ;HLOTN>EÔ
\s´ÇԟdÔ¦W’\hžÔ\½\WŽž’fWÔ N$99>4ULÔ
\oµÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ ®NQÔNON%EHÔ
\oµÇԞdÔ¦W’\hžÔ\½\WŸ’fWÔ N<HÔL>QOHÔ
\sµÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ QÔUU>'99Ô\mµÇԞdÔ¦W’\hžÔ\½\WŽž’fWÔ ®O9ÔO9H'9TÔ \¹ÇԞdԄž­ÔW’f`„`­Ô T<NÔT9;99Ô
\qµÇԞdÔ¡W­W^`’WÔ HOU)9EM99Ô
­½
„Ç
Žn„„`¦Ô\ž’µ¦W\µo’fÔ LN;ÔEEL#99Ô
¡m’’`¦Ô\ž’­º¦½\´ož’Ô m’\Ô ONÔ?O9*OHÔ
­½
„Ç Žn„„`¦Ô\ž’µ¦W\µo’fÔ <ÔUOQ<HU
LEÔ
\mµÇԞdԄž­ÔW’f`
`­Ô EÔENOÔU>H99Ô
­À
„Ç Žn„„`¦Ô\ž’µ¦W\´o’fÔ HÔLOLÔ999
99Ô

ž­ÔW’f`„`­Ô`’fo’``¦o’fÔ UHUÔH;Q#99Ô
f¦mddmµhÔ\žŽ¡W’ÇÔ ®L.@HLÔ99999Ô
­½

Ç Žn„„`¦Ô\ž’µ¦W\µm’fÔ < 9TN 999 99Ô
\ž½’³ÇԞdԄž­ÔW˜f`
`­Ô 999Ô\ž½’µÇԞdԄž­ÔW’f`
`­Ô E9; H;;6OLÔ\ž½’µÇԞdԄž­ÔW’f`
`­Ô HU< U;;
;LÔ
\ž½™µÇԞdԄž­ÔW’f`
`­Ô HNUÔO99
L;Ô
\ž½šµÇԞdԄž­ÔW’f`
`­Ô ;O90QEC7EUÔ\ž½’µÇԞdԄž­ÔW’f`
`­Ô ;O9ÔNHNQHÔ\ž½’µÇԞdԄž­ÔW’f`
`­Ô ;UE ;<O+ELÔ\ž½’µÇԞdԄž­ÔW’f`
`­Ô ;NNÔUQUTUÔ\ž½’µÇԞdԄž­ÔW’f`
`­Ô QNÔELL1ULÔ
W„„ÔWŽ`¦m\W’ÔW­¡hW
µÔ L9TÔ999Ô99Ô
\nµÇԞdÔ¡W„ŽÔ­¡¦m’f­Ô EÔTLQÔQNU399Ô
¡žÃ`„„Ô\žœ­µ¦½\µž¦­Ô O;LÔH9H99Ô
„`’’W¦ÔhžŽ`­Ô ®qÔ;EÔU<Q
99Ô
W„„ÔWŽ`¦m\W’ÔW­¡hW
µÔ OT<ÔO9999Ô
Elecnor Belco Electric Inc.

..

Item 9 Page 304 of 361












CGEBDG7GGÑ
´Ÿ´V‡Ñ
žYєž
Ñ ¤§žd[´Ñ”VdÑ ‡ž\V´}ž”Ñ \‡te”´Ñ \ž”´§V\´Ñ
ÃV‡¿dÑ
9J6L9NÑ ¥¨Ÿµf\µfaыfm¶µÀ¨•Ñ®up•WˆÑ ¨uWˆ¶ŸÑ \uµÇџmѨuW‹µŸÑ ¯N96ÑT6M 66Ñ
9J6L9SÑ Åu‹‘v•pµŸ•ÑÅWµf¨m¨Ÿ•µÑ¥¨Ÿ‘f•WafÑ ¥Ÿ¨¶ÑŸmыŸ®ÑW•pf‹f®Ñ ®Â‹‹ÇÑ‘v‰‰f¨Ñ\Ÿ•µ¨W\µu•pÑ
LÑMSSÑIF666Ñ 9J6LFFÑ Z¨ŸWaÅWÇÑv‘¥¨ŸÄf‘f•¶®Ñ \W¨®Ÿ•Ñ \u¶ÇџmÑ\W¨®Ÿ•Ñ
:Ñ9SSSIL66Ñ 9J
6LFJÑ ¶­mmv\Ñu•µf¨\Ÿ•f\µÑ®Ç®µf‘ÑÀ¥p¨Waf®Ñ \Ÿ‘‘f¨\fÑ \uµÇџmÑ\ ‘‘f¨]fÑ
9 FLN S9S66Ñ 9J6LIFÑ mWu¨ÄvfÅѨaÑr®u¥Ñu‘¥¨ŸÄf‘f•µÑ¥¨Ÿ‚g\µÑ \Ÿ®·Wёf®WÑ rW¨aÇÑWœaÑrW¨¥f¨Ñ ¯FMFÑFLM66Ñ 9J6LITÑ ¨ŸWaÅWÇÑW•aÑÀµu‹vµÇÑw‘¥¨ŸÄf‘f•¶®Ñ ¨W•\rŸÑ‘x¨WpfÑ p¨W•v¶fÑ\Ÿ•®µ¨À\µuŸ•Ñ ¯SI:ÑJ6666Ñ 9J 6LJ6Ñ \Äыu•†Ñ‘À‰µv‘ŸaW‰Ñ µ¨W•®¥Ÿ¨µW¶uŸ•Ñ \ŸW\rf‹‰WÑÄW‰‹fÇÑ W‘f®Ñ\Ÿ•®µ¨À\µvŸ•Ñv•\-Ñ ¯vÑLFNÑJN?66Ñ 9J
6LJJÑ W‹µvµÀafÑZÀ®u•f®®Ñ\f–¸f¨Ñµ®Ñ \rv•ŸÑ ¥W\umu\Ñ\ŸW®µÑf•pv•ff¨v•pÑ u•\Ñ
9Ñ9LTÑLL666Ñ 9J6LJMÑ Åf®µÑrWÑÄh•ÑŸnmÑ®v¶fÑ®µ¨ff¶Ñu‘¥¨ŸÄf‘f•¶®Ñ Ÿ•µW¨vŸÑ W‹‹ÑW‘f¨v\W•ÑW®¥rW‹¶Ñ
:F6ÑISF66Ñ 9J6LJNÑ ‘f¨¨u‹‹ÑWÄfÑZ¨vapfÑÅuai•u•pÑ Ÿ•µW¨vŸÑ ¥ŸÅf‰‹Ñ\Ÿ•®¶¨À\µŸ¨®Ñ
:L9ÑFS666Ñ ;J 6LLIÑ \¨Ÿ®®¨ŸWa®Ñ99Ñ ZfWÁ‘Ÿ•µÑ p¨W•v¶fÑ\Ÿ•®µ¨À\µvŸ•Ñ
LIIÑMTF66Ñ :J6LLJÑ \W•ÇŸ•Ñ®¥¨u•p®Ñ‘W¨†f¶Ñ¥‰W\fÑ ¨vÄf¨®vafÑ a¥¨Ñ\Ÿ•®µ¨À\µvŸ•Ñ
JLSÑSIT66Ñ :J 6LLLÑ ruprŠW•aÑWÄfÑWµÑF<6Ñ ®W•ÑZf¨•W¨ay•ŸÑ W‰‹ÑW‘f¨v\W•ÑW®¥rW‹¶Ñ
IJI OST66Ñ
:J 6LLNÑ ¥\rÑWµÑrWŵrŸ¨•fÑZ‰ÑÄaÑu•µf¨®f\¶u¡•Ñu‘¥
Ñ µŸ¨¨W•\fÑ p¨ummuµrÑ\Ÿ’¥W•ÇÑ
MM6ÑSIJ66Ñ
:J
6LLSÑ \f•¶¨W‹ÑWÄf
Ñv•µf¨\rW—pfÑWµÑ®µW¶fѨŸÂµfÑM6Ñ ^rv•ŸÑ ®f\¨uµÇÑ¥WÄu•pÑ ¯uÑLTNÑ66666Ñ =J6LMFÑ ƒW‘f®ÑW ёÀ°w\†ÑmÑW\͋v¶ÇуXu‹Ñ v¨Äv˜fÑ Zf¨pf‹f\µ¨u\Ñ
FJJ!I9F66Ñ :J
6LMJÑ ®rWaŸÅѨŸ\†ÑW•aÑrvpr‹W•aÑ¥W¨†Ñµ®Ñ ƒÀ¨Â¥WÑÄW‹‹fÇÑ ‹f••W¨Ñ
MT6Ñ6IJ66Ñ :J 6LN6Ñ TµrÑW•aÑÄv•fÇÑW¨aÑ ¨W•\rŸÑ\Â\W‘Ÿ•pWÑ mÀ‹‹‘f¨Ñ\Ÿ•®¹¨Â\µuŸ•Ñ ¯LFÑ6668Ñ =J 6LN:Ñ µrfѕŸÅÑ Åf®¶ÑrŸ‹‹ÇşŸaÑ ‹WǵŸ™Ñ\Ÿ•®µ¨Â\¶uŸ•Ñ ¯LFÑ666"8Ñ :J 6LNMÑ W¨µf®uWёuµÏpWµfÑ¥faf®µ¨uW•ÑW•aÑZv\Ç\‹fÑ W¨µf®vWÑ rW¨aÇÑW•aÑrW¨¥f¨Ñ
:TN#S6666Ñ :J6LNTÑ u•\Ÿ‹•ÑWÄfÑ¥faf®µ¨uW•Ñ¥WµrÅWÇÑ ®W•µW W•WÑ Å¨vpr¶Ñ\Ÿ•®µ¨Â\¶vŸ•Ñ ¯TJÑ9L68Ñ :J6LS:Ñ p¨ff•Ñ¶¨ffÑZ‹Äa$Ñfƽf•®uŸ•Ñ Äy\¶Ÿ¨ÑÄu‹‹fÑ 

 ¯uÑ9NSÑNJJ66Ñ :J
6LSIÑ \W‹µ¨W•±Ñ6S9mNI6JÑ \Ÿ‰µŸ•Ñ ®j\À¨uµÇÑ¥WÄu•pÑ ¯yÑFMMÑ666%66Ñ:J 6LSTÑ :IÑ@I9ыŸ®ÑW•pf‰f®Ñ®µÑ v¨Åv•aW‹fÑ aÀ†fѨfW‹µÇÑ
JFJÑTSM 66Ñ
:J
6LTIÑ W•Wrfy‘Ñ\W•ÇŸ•Ñ‘f¶¨Ÿ‰u•†Ñ®¶WµvŸ•Ñ W•Wrfu‘Ñ ®µW\fÇÑW•aÑÅw¶Zf\†Ñ
N>PÑF6T 66Ñ
:J6LTQÑ Äy\µŸ¨yWÑ®¶"ÑW•aÑrf¨uµWpfÑ\u¨\Œfѵ®Ñ mŸ•µW•WÑ µ¨uÑ¥Ÿu•µfÑrŸ‘f®Ñu•\Ñ
JJMÑF6666Ñ 9J6LTTÑ ZÀu‹au•pÑ9JÑ\Ÿ•®¶¨À\µuŸ•Ñ ®W•µW W•WÑ Z¨upq®Ñf‹f\µ¨y\Ñ u•\&Ñ
FSTÑJS6'66Ñ :J6M6IÑ FFI¨aÑ®ºÑz‘¥¨ŸÄk‘f•µ®Ñ \W¨®Ÿ•Ñ W‰‹ÑW‘f¨u\W•ÑW®¥rW‹¶Ñ
JTÑSNF66Ñ :J6M6JÑ fau®Ÿ•ÑWÄf(Ñ®¶¨ffµÑy‘¥¨ŸÄf‘f•µ®Ñ \ru•ŸÑ W‰‹ÑW‘f¨u\W•ÑW®¥rWµÑ
9ÑITM9T666Ñ :J6M6LÑ aŸÅ•µŸÅ•ÑmuZf¨ÑŸ¥¶u\Ñ\Ÿ‘‘À•u\WµuŸ•®Ñ rÀ•¶u•pµŸ•ÑZfW\rÑ \uµÇџmÑr•µu•pµŸ•ÑZfW\rÑ
MFMJL:'66Ñ:J 6M6MÑ µ¨Wmmu\Ñ®vp•W‹Ñ‘Ÿauou\W»uŸ•®Ñ rÀ•¶u•pµŸ•ÑZfW\rÑ \uµÇџmÑrÀ•µ~špµŸ•ÑZfW\rÑ
ILNÑMIM 66Ñ
:J6M?6Ñ rW¨ZŸ¨ÑZ‹ÄaÑW•aÑW¨ZŸ‹uµWÑa¨ѵ®Ñ ‹WÑrWZ¨WÑ \u¶ÇџmщWÑrWZ¨WÑ
FT6ÑLS666Ñ @J6M?9Ñ ZW®fщv›fѨa)Ñ®µ¨ffµÑ‹uprµÑ ¨W•_rŸÑ\Â\W‘Ÿ•pWÑ \uµÇџmѨW•\rŸÑ`À\W‘Ÿ•pWÑ
:6*SNL66Ñ 9J6M?FÑ F6:T5F6F6ÑW¨µf©{WˆÑW•aёy•Ÿ¨Ñ®µ+ёWΕµÑ ¨vÄf¨®bfÑ W‰‰ÑW‘f¨v\W•ÑW®¥rW‹µÑ
IJTÑ?M6 66Ñ
@J6M?JÑ rvprÅWÇÑ®Wmf¶ÇÑ\Ç\‹fÑMÑ Ÿ‹Ç‘¥u\ÑZ‹Äa,Ñ ‹Ÿ®ÑW•pf‰f®Ñ \uµÇџmщ¢®ÑW•pf‹f®Ñ
LMMÑJTT-66Ñ 9J6M?LÑ rf¨uµWpfѵ¨Wmmu\Ñ®up•W‹Ñ‘Ÿaumu\WµuŸ•®Ñ ¨faŽW•a®Ñ ‹f••W¨Ñ
IILÑS66.66Ñ @J6M?MÑ \uµÇџmÑrŸ¥fÑ\W•\f¨Ñ\f•¹f¨Ñ v¨Äv•fÑ Zf¨pf‰f\¼¨u\Ñ
@6 66666Ñ 9J
6M?NÑ rupÀf¨WÑ®µ%ÑZ¨vapfѪf¥‰W\f‘f•µÑ \‹Äf¨Ñ\u¾ÇÑ Ÿ¨µyÈÑf•µf¨¥ªy®f²Ñ
I6IÑ666/66Ñ9J6MF6Ñ µrfÑsŸ‘f®µfWaÑ u‘Ÿ•vµfÑWÄf Ñ fW®µÄW‰fÑ W‹‰ÑW‘f¨|\W•ÑW®¥rW‹¶Ñ ¯IMT066666Ñ
9J6MF9Ñ y•®µW‹‹WµuŸ•ÑŸmÑm‹W®rv•pÑZfW\Ÿ•Ñ ¥W‹‘Ñ®¥¨v•p®Ñ \yµÇџmÑ¥W‰‘Ñ®¥¨v•p®Ñ
I9N#SIS&66Ñ 9J
6MFFÑ \f•µy•f‹WÑWÑÄfÑ u•p‹fşŸaÑ W‹‰ÑW‘f¨v\W•ÑW®¥rW‹¶Ñ
FSNTÑNN666Ñ 9J6MFJÑ ³¶¨ffµÑ¨frWZy‹€µWµvŸ•Ñ p¨W•aÑWÄfÑ \ru•ŸÑ ®f£Àf‹ \Ÿ•µ¨W\µŸ¨®Ñ
S69ÑI6618Ñ AJ6MFLÑ a„ÑZW¨¨W•\WÑW•aыWÀ\rÑ v¨Äu•fÑ rW¨aÇÑW•aÑrW¨¥f¨Ñ
FNLÑS66266Ñ 9J6MFRÑ v•p‹lşŸaÑWÑÄfÑёW•rWµµW•ÑZfW\rÑZ‹Äa3Ñ ¨faŸ•aŸÑZfW\rÑ W‹‰ÑW‘f¨u\W•ÑW®¥rW‹¶Ñ ¯FNNÑST9 66Ñ
9J6MFTÑ Ÿ•\W‰‹ÑmuZf¨ÑŸ¥µu\ѵf®µu•pÑ p‹f•aW‰fÑ \uµÇџmÑp‰f•aW‹fÑ
L66Ñ666&66Ñ9J 6MIFÑ v•ÇŸ†f¨•ÑW•aуW\†®Ñ¨W•\rÑpWµfÑ \ru•WщW†fÑ Zf¨pf‹f\µ¬ \Ñ
MJLÑLLU+66Ñ
9J6MIIÑ Ç•fÈѨaÑW•aÑÅWÄf¨‹ÇщW•fÑ ¶f‘f\‹WÑ ‘f«uµWpfÑrŸ‘fџmÑ\W‰vmŸ¨•uWÑ ¯KM9ÑMNT466Ñ 9J
6MIJÑ Äu‹‹WpfÑ\f•¶f¨Ña¨Ñ \ruœŸÑru‰‹®Ñ rW¨cÇÑW•aÑrW¨¥f¨Ñ
SJÑL66+66Ñ ?J6MILÑ ®‰ŸÄf¨ÑWÑÄf,Ña¨Wv•WpfÑW•aѵ®Ñy“¥¨ŸÄf‘f•µ®Ñ ®W•ÑZf¨•W¨au•ŸÑ ÄW•\fÑ\Ÿ¨¥Ÿ¨W¶uŸ•Ñ ¯FFIÑFL666Ñ ¦ÉÌÊÑHÑÐËMÑ
Elecnor Belco Electric Inc.

..

Item 9 Page 305 of 361




Œ¶`檶æ
GQ
ASOSæ
GQ
ASOXæGQ
ASQAæGQASQFæ
FQASQMæFQASQRæ
FQ
ASQSæ
FQ
ASQXæFQASRGæFQASRMæFQASROæ
GQ
ASRRæ
GQASRSæ
GQ
ASRXæGQ
ASRYæGQ
ASSGæGQ
ASSOæGQ
ASSQæGQ
ASSXæ
GQ
ASSYæ
GQ
ASUAæ
GQASUOæGQ
ASUQæGQ
ASWRæGQASUUæ
GQ
ASUXæ
HQ
ASXAæHQASXHæHQASXMæ
IQ
CSXOæ
HQ
ASXQæHQASXRæ
HQASXUæ
HQASXXæ
HQ
ASZæHQASYHæ
HQASYMæ
HQASYOæ
HQASYXæ
HQASYYæ
HQAUEæ
JQAUAMæ
HQ
AUAOæ
GQ
AUAQæ
HQ
AUARæ
HQAUAXæHQAUFAæHQ
AUGæ†æ
GQ
AUFMæ












½Á¶lbÏæ«\¦læ —¶b\χ¶ªæ
Ýz­bvpËÐoÂæÂgæ]­gæÐv¶§¾Ë¶­æ]æÜoæ qÂo­bvæÜ]™˜oßæ
qٙ™oÂж­æÂg
ætÂ]jpæËo¿]Â]Ðz¶­æ {­gÙËÐÂßæ
Ùb
æÜpÂ]­¶ Xæ |ÂÜ|­pæ
]пæË]qpæ¶ÙÐoËæжæËbv¶¶™æ ¶­Ð]Â|¶æ
ÂÙ­Ý]ßæpgtoËæp­v]­bp§p­Ðæ¿Â¶ŽobÐæ qٙ™oÂѶ­æ
ÝpËÐæb]Â˶­æb¶§§Ùµ|Ðßæa{”pÝæ]æßËæ ™¶Ëæ]­tp™pËæ
FUÐvæËÐ.?˧bŠoÞ¿¶æa{”pæ¿]Ðwæ Ë]­Ð]槶­|b]æ
]™]a]§]æËÑ
æ]­gæ¶Â]­tpæ]æÜp#æ Âpg™]­gËæ
v{Ë¿æ¿pÂÂzËæašÜgæ ¿pÂÂzËæ
¿™]à]ægoœæ]§¶æ Ò¶ÂÂ]­bpæ
Ðp§¿¶Â]ÂßæÜgËæb]§pÂ]Ëæ Ë]­Ðæ]æb™]ÂzÐ]æ
tÂoo­æËÐÂppÐËæ¿Â¶pbÐËæ ™]”oæp™Ë€­¶Âoæ
vÙ­Õ{­tѶ­ægÂ'æ
Ë]­æt]aÂ{o™æa™Üg(æ Ë]­æt]aÂ{p™æ
oÙb™zgæ
ÝoËЧz­ËÐpÂæ|­ÐoÂËpbÐz¶­æ t]Âgo­æt¶Üpæ
Ë]­æ]b|­Ð¶æËÐ7æÂoËÙÂq]b{­tæ ÂzÜpÂËzgpæ
oÙb]™ß¿ÐÙËæ]æÜo#æaÂzkpæ ¶­Ð]Âz¶æ
p™]­æ
GAAææMABæp™”æ™]­pæ Ë]­Ð] ]­]æ
ÐpÂÉ]boËæ]ÐæÝ]™­ÙÐæ Ý]™­ÙÐæ
qæ]™™¶­bÂpËÐæ
]Âbv{a]™gæ]­gætÂ]­gæ¿]Â”æ ¶­Ð]Âz¶æ
¶x­æ*æao­¶zÑægpÐp­Ðz¶­æbo­ÐoÂæ ÂzÜoÂËzgpæ
ËÐ]Ƥz­tæ]æÜo/æ]Ðæbyz­¶æ]æÜoæ ¶­Ð]Âz¶æ
§z™™æbÂop”æ]æÜp1æ]­g涭Ð]Âz¶æÂ]­bvæÂgæ ¶­Ð]Âz¶æ
qzÂpËж­pæ§pжæa™Úpæ™z­pæËÐ]Ð|¶­æ ™¶Ëæ]­tp™pËæ
Ë]­Ðpæqpæ]æÜo-æËß­bv¶­à]Ð|¶­æ ™¶­tæao]bvæ
goËpÂÐæË]­gËæ¿]”æb{Ðßæq{apÂæb¶­­pbÐ{¶­æ ¿]™§g]™oæ
Ý{™§{­tж­æÝ]ÐoÂq¶­Ðæ¿Â¶§p­]gpæ ™¶Ëæ]­uo™oËæ
Â]­bv¶æ™¶ËæbpÂÉ{жËæ boÇÈzѶËæ
]g¶apæË¿Â|­tËæ
Ý|­bvpËÐpÂæÂg5æ §ÙÂÂ{oÐ]æ
Ù­{ÜpÂËzÐßæ>Âzgto™|­oæz­ÐoÂËobÐz¶­æž§¿Â5æ {ÂÜ{­oæ
z­ÐoÂËobÐz¶­æË]qpÐß悧¿ÂºÜo§o­ÐËævËz¿Uæ Ë]­æt]aÂzp™æ
¿¶™ßÐobv­zbæËbv¶¶™æ¿ogpËÐÂ{]­æz§¿Â7æ ¿]Ë]gp­]æ
Ëж­pv{™™ægÂ'æ]­gæ¿Â¶obÐægÅzÜoÝ]ßæ Ë]­æÙ]­æb]¿|ËÑÂ]®¶æ ]­­Ù]™æÂpË{gp­Ð{]™æÍÔÂopÐæÂpv]az™|Ð]Ð|¶°æ b¶§¿Ð¶­æ
b{Ðßæ¶qæv¶¿oæ­¶ÂÐvæ¿]”z­tæËÐÂÙbÐÙÂpæ {ÂÜ{­pæ
v¶™™]­gæÂg-æ]­gæoÜ]­ËæÂj9æÑÂ]qqzbæË{t­]™æ ©p­zqooæ
goËb]­Ë¶ægÂæËÐÂopÐ惧¿Â¶Üp§p­ÐËæ š]æb]­]g]æ
˶٭gÝ]™ æb¶­ËÑÂÙbÐz¶­æ¶­æGMGAæsÂppÝ]ßæ ™]æb]­]h]æq™z­ÐÂzitoæ ¶bvpËÐoÂæ]æÜo æ¿]Üo§o­ÐæÂpv]az™|Ð]Ðz¼­æ Â]­bv¶æbÙb]§¶­t]æ §b”z­™pßæËÐÂppÐætÂ]gpæËp¿]Â]Ðz¶­æ b¶Â¶­]æ
v¶­¶™Ù™Ùæ]ÜoæÐÂ]qqƒbæËzt­]¡Ëæ t™o²g]™oæ
]™gpÂæ]Üp1æ Ë]­æap­]Âgz­¶æ
Â]­bv¶æ™]Ëæ¿]™§]ËæË|ÑoææËvp™™æ Â]­bv¶æ§zÂ]toæ
§]{­æËÐæ]­gæÝ]™­ÙÐæËÐ=æ Ë]­Ð] ]­]æ
§]|­æËÐæ]­gæFRÐvæËÐ3æ Ë]­Ð] ]­]æ
ÐÂ]qq{bæË{t­]šæz­ËÐ]™¢]Ѓ¶­æ t]Âgo­æt¶Üoæ
™]æ¿]àæÂg
æ]­gæÜoÐpÂ]­ËæÝ]ßæ §zËËz¶­æÜ{p¶æ
Ùbzæb]bæËÐÂopÐæ]­gæ¿]ÐvÝ]ßæ™ztvÐ{­tæ zÂÜz­oæ
vztvæqÂzf׋¶­æËÙÂq]boæÐÂp]Чo­Ðæ ÂzÜpÂËzgpæ
Ð]ßËæ™]­gz³tæ ËÐ æ]­gÂpÝËæËÐ æ]­gæb]§¿ÙËæ]Üp6æ ¶­Ð]Âz¶æ ÀáäâPåãTæ
KN@L@DNNæ
ζÎ\–æ
b£‡mªÏæ b¶¬ÏÁ\bÏæ
Û\—Ønæ
qÊ­bvæÜ]š™pßæ§]“oп™]bo
暙bæ OQUæSMA
AAæ
˓]­Ë”]æ MæQORæAAAEæ
apÂtæp™pbÐÂzbæ GUæRAAAAæ
]™™æ]§pÂ|b]­æ]Ë¿v]™Ðæ YGUæQXA AAæ
_™›æ^§p‘b]­æ]Ë¿v]™Ñæ HæAOG!YAAEæ
v]Âgßæ]­gæv]¿oÂæ UXæAUG&AAæ
]bbpËËæ¿]c}qzb"æ|­bæ Ì~æ SYAæYMAAAæ
Ýp§pÂËæb¶§¿]­|pËæ OSRæUOA$AAæ
bzÐßæ¶qæ¿pÂÂzËæ UQAæMSQ$AAæ
]™æ]§pÂb]­æ]Ë¿v]™Ðæ XRæMXA%AAæ
]™™æ]§oÂ|b]­æ]Ë¿v]™Ðæ AAAæ
vz™™bÂoËÐæb¶­ÐÂ]bÐz­tæ MXæGOX&AAæ
Ëp·Ùo™æb¶­ÐÂ]bжÂËæ OUUæYGUSAæ
’歶a™pæ OYM UAU)AAæ
v]Âgßæ]­gæv]¿pÂæ YUæXHR*AAæ
¿¶Ýo™šæb¶­ËÐÂÙbжÂËæ GYSæQXU+AAæ
ÝpÁ§pÂËæb¶§¿]­zoËæ OOXæSXMAAæ
ËٕÙÐæb¶­ËÐÃÙbÐz¶­æ OXOæYRQ,AAæ
™p­­]Âæ MMRæOAV-AAæ
tÂ]­ˆÐpæb¶­ËÓÂÙbÐz¶­æ ÌRUA
XXQ.AAæ
™o­­]Âæ SRXAAA0AAæ
Ëvo]æv¶§oËæ HæMUXæSOR-AAæ
¥¶Ëæ]­to™oËæo­t{­ppÂz­tæ ÌOYQæQUQ1AAæ
b|Ðßæ¶q晶­tæap]bvæ MæYAOæMYX2AAæ
b{Ðßæ¶qæ¿]™§g]™pæ SAæYQM3AAæ
˸Ù]Âogæto­pÂ]™æb¹­ÐÂ]bжÂËæ XHæGXA4AAæ
tÂzqq|Ðvæd¶§¿]­ßæ HQMæAOR%AAæ
]™šæ]§oÂ{b]­æ]Ë¿v]™Ðæ QSYæAMA1AAæ
tÂzqq|Ñvæb¶§¿]­ßæ ROGæOGA6AAæ
b‰Ößæ¶ræË]­æt]aÂzp™æ ÌUMY ROG%AAæ
¿pÂÂßæbæ Ðv¶§]Ëæb¶­ËÐÄÙbÐz¶­æ{­bæ MGG MOOAAæ
t]¯]v™æŸÙ¨apÂæb¶§¿]­ßæ QASæUOR'AAæ
Ëٙ™ß
§{™™pÂæb¶­ÐÂ]bÐz­tæ YSæXSU8AAæ
aoÂto™obÐÂzbæ UæSAAAAæ
™p­­]Âæv¶§oËæ OXXæAXU AAæ
Ëp»Ùp™æb¶­ÐÂ]bжÂËæ QAæHQX:Eæ
¿¶Ýo™™æb¶­ËÐÂÙbжÂËæ MRQæAAA;AAæ
¶­ßÞæ¿]Ü{­tæ MOQæAAA#AAæ
Ý]™Ëvæb¶­ËÐÂÙbÐz¶±æe¶-æ ÌMæUGHæGAA6AAæ
b{Ðßæ¶qæt™p­g]™pæ OæXYOXQXAAæ
v]Âgßæ]­gæv]¿oÂæ GFY SXA7AAæ
Ë]Ü]­Ðæb¶­ËÐÂÙbÐz¶­"æ|­b<æ ÌM[AXA2Eæ
bzÐßæ¶qæË]­Ð]æ]­]æ OAUæSGO7AAæ
bzÐßæ¶qæË]­Ð]æ]­]æ QFOæQYM#AAæ
bzÐßæ¶qæt]Âgp­æt¶Üpæ ÌzæMUSæzæYS%AAæ
b{Ðßæ¶qæ§{ËËz¶­æ܄p¶æ USæXQA:AAæ
apÂto™pbÐÂ
bæ A'AAæ
b|Ðßæ¶qæÂzÜpÂËzgpæ G
XMQæMYY%AAæ
§pÂzÐ]tpæv¶§pæ¶qæb]™zq¶Â´z]æ OAMæORO
AAæ
Elecnor Belco Electric Inc.

..

Item 9 Page 306 of 361










 

FJ<F<@JJ×
¿©¿U‘×
ˆ©Wמ©× ­±©ˆaZ¿×ŸU™a× ‘©ZU¿€©Ÿ× Z“aŸ¿× Z©Ÿ¿±UZ¿×
ÈU‘‚sa×
AM=QAK× šVlvZך©Å¡ÀVv¡×®V³ÊVÌ×V¡_×Á©Ê¡×Zb¡Àb³× »V¡Á×V×Z’V²tÁV× ZvÁÌשi×»V ÀV×Z’V³tÁV× NK×RM===× AM=QAL× ZV»V×l³V¡_b×V¡_×ZÌ®³b»»×V×Éb
× i©¡ÁV¡V× »Z×i©¡ÁV¡V×_bÉb’©¯šb¡Á×Z©
× ’’Z× CA=R×===
==×
AM=QAN× ³b_©¡_©×XbVZo×Á³V¡»vÁ×Zb¡Áb³× ³b_©¡`©×XbVZo× š»×Z©¡»Á³ÅZÁt©¡× ¼AG=×NQH==× AM=QBP× _Å¡ZV¡×ZV¡Ì©¡×³_ ×V¡_×Z©Ì©Áb×ZV¡Ì©¡×³_!× i©¡ÁV¡V× ’V¡_»bV×o©šb»× ¼Q=I×P=L"==×AM=QHQ× j©©Áou’’×X’É_#×®VÉbšb¡Á׳boVX$× ³V¡Zo©×ZÅZVš©¡lV× V’“×Všb³vZV¡×V»®oV’Á× IN=×IR=%==× AM=QIA× ³b_©¡_©×XbV[o×X’É_×»Á³bbÁ×tš®³©Ébšb¡Á× ’VÊ¡_V”b× oV³_Ì×V¡_×oV³­b³× QI×PR=&==× AM=QII× Á©Ê¡×Zb¡Áb³×»Á±fbÁ×vš®³©Ébšb¡Á»× Zov¡©× V’“×Všb³tZV¡×V»®oV’Á× C×QPP×QIM'==× CM=QIK× jÌ×AS;I=ג¬V’׻³bbÁשÉb³“VÌ×®³©‰bZÁ× Zov¡©× bËZb’×®V×Ív¡l× I=×===&==× CL=QIP× VÁ®×ZÌZ“b×K× oÅ¡Át¡lÁ©¡×®V³× ZwÃÌשj×oÅ¡Áv¡lÁ©¡×®V³× ¼RSN×SRH(==× CM=QIQ× ®VÉbšb¡Á׳boVXv’ƒÁVÁ{©¡×VÁ×AMג©ZVÁv©¡»× »V¡×Xb³¡V³_v¡©× šVÁvZo×Z©³®©³VÁv©¡× KK×=====× CM=QIR× šV³bÁ×»Á³bbÁ×Z©³³v_©³× ’©¡l×XbVZo× V’•×Všb³vZV¡×V»®oV’Á× DLQQ A====× CM=QK=× »Å³lb³Ì×Zb¡Äh³×®oV»b×ÔÕשjj»tÁb×vš®³©Ébšb¡Á»× š‡´³tbÁV× Áų¡b³×Z©¡»Á³ÅZÁv©¡×Z©š®V¡Ì× ×x×CN=×MSI(==× CM=QKC× _b»b³Á×oylo’V¡_»×Á³VjivZ×»vl¡V“× ®V’š×»®³y¡l»× ZvÁÌשi×®V’š×»®³v¡l»× PKR×RRA ==×
CM=QKI× Á³VjjtZ×»zl¡V•×v¡»ÁV’–VÁv©¡× »V¡×³VjVc’×_³× ®V’š×»®³{¡l»× ZtÁÌשi×®V’›×»®³v¡l»× NA×v×Q=P==× CM=QKL× š©Å¡ÁVŠ¡×ɄbÊ׳_׳b»Å³jV\|¢l×_t“’©¡×³_× _b»b³Á×o©Á×»®³}¡l»× šVÁtZp×Z©³®©³VÁ}©¡× P½×=====× CL=QK½× Å¡}Éb³»yÁÌ×»Á)×V¡_×X³©ZÁ©¡×V×Éb*×Á»×®³©‰bZÁ× ³b_’V¡_»× ZtÁÌשi׳b_“V¡_»× ½=Q×QM½ ==×CM=QKP× ¡ÅÁÊ©©_×Ö×ÌV’b×V³bV×»Á³bbÁ×vš®³©Ébšb¡Á»× jŕ“b³Á©¡× »cªÅb“ Z©¡Á³VZÁ©³»× R×½==!==× CM=QKQ× Òš®’bšb¡ÁV×Áv©¡×©j×V_ÉV¡Zb_×_v•bššV×Ω¡b× »V¡×Xb³¡V³_v¡©× ZvÁÌשj×»V¡×Xb³¡V³_v¡©× KQNQ KCM(==× CM=QKR× I=ICI=II×y¡Áb³»bZÁv©¡×vš®³©Ébšb¡Á× »V¡Á×V×Z’V³tÁV× Z}ÁÌשj×»V¡Á×V×Z’V³vÁV× CKA×PSA==× CM=QKS× Vvº°©³Á×»yl¡Vlb×V¡_גV¡_»ZV®b×vš®³©Ébšb¡Á»× jŒ“b³Á©¡× XÅ¡b³×b¡lt¡bb³v¡l× MI×===+==× CL=QM=× ’vš«¡vÁb×V×Éb
×Z©ššÅ£tZVÁy©¡× bV»ÁÉV“b× ZtÁÌשj×bV»ÁÉV’b× CNR×NIR==× CL=QMC× I=I=I=IA×»Á³bbÁשÉb³’VÌ×׳bZ©¡»Á³ÅZÁv©¡× ³tV’Á©× ZV’šbË×b¡v¡bb³v¡l ×v¡Z%× II×ISI,==×
CL=QMI× jÌI=ICIIךV©³×V³Áb³vV’»×®VÉbšb¡Á× ³V¡Zo©×ZÅZVš©¡lV× oV³_Ì×V¡_×oV³®b³× ¼MM×RR=$==× CL=QMK× Zb_V³»»v¡VtךV³y¡V×_b’׺gÌ×q©×»®tÁ×V“× šVµt¡V×_Y’׳bÌ× Xb³lb’bZÁ³vZ× KNM×RMK==× CL=QM½× Á³×CRS=A× šZb¡¡V×®V³× Zov¡©× ov’’]³b»Á×Z©¤Á³V^Áv¥l× II RPS,==×
CL=QMP× _v»Á³vZÁ×IךV³v¡b×ÊVÌ× v³Év¡b× V’’×Všc¶vZV¡×V»®oV’Á× I=K×S=M-==× CL=QMQ× ³V¡_V“’×VÉb!×»Á³bbÁ×vš®³©Ébšb¡Á»× ·~VÐ×Á©× Êobb’b³×®VÉv¡l× IM×P=R.==× CL=QMR× _VÁb×»Á/×VÁךų³vbÁV×o©Á×»®³v¡l»×³_0× šÅ³³vbÁV× šo»×³bÁVt’1ג“Z× ¾½SI×AQ=2==× CL=QLS× Qb’bÉb¡×»Á©³b×
MASR½BQA× »V¡×Xb³¡V³_v¡©× Ïךv’’b³×Z©¡»Á³ÅZÁv©¡× MIK×NPN ==×
CL=QN=× »Á³bbÁ×tœ®³©Ébšb¡Á»×k©³×Êb»Át¦»Áb³×X’É_× Êb»Ášt¡»Áb³× ³3‹× ¡©X’b× KR×IPI ==×
CL=Q½C× ®Vºv¡l×»Á³ÅZÁųb×
K×_bš©–†Áv©¡×®³©‰bZÁ× »V¡ÁVך©¡}ZV× Vš®Z©×Z©¡Á³VZÁv¡l4×v¡Z5× ¼CN×===(==× CL=Q½I× ©³ZoV³_×ov’’»×®Vt×ÓסbvloX©³o©©_×L× v³Év¡b× ov’’Z³b»Á×Z©¡Á³VZÁv¢l× QIC×===-==× CM=Q½K× X³©V_ÊVÌ׳boVXy“vÁVÁy©¡×®³©‰bZÁ× l’b¡_V’b× oV³_Ì×V¡_×oV³®b³× QKN I==+==×
CL=QNN× Zºb¡»oVÊ×X’É_+׳boVXv’vÁVÁv©¡× Á©³³V¡Zb× V’’×Všb³vZV¡×V»®oV’Á× CIS×KIA6==× CL=QNP× ZvÁÌÊy_b×®VÉbšb§Á׳boVXt’vÁ×V×ÁŽ©¡×®³©l³Vš× š©¹e¡©×ÉV’’bÌ× V’’×Všb³vZV¡×V»®oV’Á× MPS×I=M==× CL=QNQ× “Ì©¡×VÉb×oVʏ׻̻Ábš×Z³©»»ÊV’× »V¡×ŒVZt¡Á©× »V¡×‰VZt¡Á©×Å¡vitb_×»Zo©©’×_t»Á³tZÁ× CQM×RNI6==× CM=Q½R× š©¡³©b×»Á³bbÁ×V×Éb¡Åb×LA× v¡_v©× ZvÁÌשj×v¡_{©× MKM RMM6==×
CM=Q½S× »Á³bbÁ×vš®³©Ébšb¡Á× »•©Éb³×V¡_ש’bV¡_b³× i©¡ÁV¡V× _Ɛb׳bV’ÁÌ× C½S×SPI==× CL=QP=× ®VÉbšb¡Á׳boVX7×j©³×ÉV³v©Ç»×“©ZV’×»Á³bbÁ»× š©³b¡©×ÉV’’bÌ× oV³_Ì×V¡_×oVº®b³× IK×KRK7==× CL=QPC× šb³v_vV¡×®V³×_×AP× ³vÉb³»v_b× ©’ÁšV¡×Z©¡»Á³ÅZÁt©¡×Z©× QC=×QMC$==× CL=QPI× _VÁb×»Á×V¡_ךdz³tbÁV׳_!×»Á³bbÁ×tš®³©Ébšb¡Á»× šÅ³³vbÁV× oV³_Ì×V¡_×oV³¯b³× NR KRN×==×
CM=QPK× Á³VZÁ×KQO=T×ob}³˜©©š×»Á2×vš®³©Édšb¡Á»× ÁbšbZŗV× oV³_Ì×V¡_×oV³¯b³× R×===#==× CM=QPM× ³Vš©¨×³_8׳b»Ç³iVZv¡l× Áo©Ç»V¡_×®V’š»× oV³_Ì×V¡_×oV³®b³× ¼ÑÒ×LAN==× CL=QPN× I=II×iV’’×®VÉbšb¡Á׳boVXt’{ÁVÁt©¡× ©¡ÁV³v©× V–’×Všb³vZV¡×V»®oV’Á× ¼Q=×C====× CL=QPP× VÁ®×ZÌZ“b×N9×®V’š×_³× _b»b³Á×o©Á×»®³v¡l»× ©¡ÌË×®VÉv¡l× I=Q×½½½2==× CL=QPQ× ©¡ÁV³v©×³V¡Zo׳_×X³{_lb× ©¡ÁV³v©× ¸tÉb³»t_b×Z©¡»À³ÅZÁ ©¡× KIK×CRS
>=×
CL=QPR× ³b»v_b¡ÁvV’×V¡_×V³Áb³tV’×®VÉbšb¡Á׳boVX%× Á©³³V¡Zb× V–’×Všc³vZV¡×V»®oV’Á× ¼MR×½E=7==× CL=QPS× Á©³³V¡Zb×X’É_2 ºb»ÇºiVZv¡m× ³b_©¡_©×XbVZo× rV³_Ì×V¡_×oV³°b³× RK=×KRM)=?× CL=QQ=× »vb³³V×VÉb2×Êv_b¡v¡l× i©¡ÁV¡V× “©»×V¡nb–b»×b¡l{¡bb³{¡l× ¼×K=×v×SR?:==× 

Elecnor Belco Electric Inc.

..

Item 9 Page 307 of 361















 a9]9aˆ9_99Ć
51ê:CĆ
¾1 ĆÏ1wĆ l1¿B
5ĆN:ËBĆ C1
:5­1NĆ
C&BN5Ć
1Ð5l:
5Ć
÷:CôBĆ
(
"Ć Ć
Ć
+ĆĆĆ
 ĄĆ
ĆĆ Ć
;Ć = Ć
Ć $Ć
AĆ
(
"Ć  
*Ć
*ĆĆ!&"+Ć

Ć


Ć
Ú

Ć ,
Ć'Ć
Ćß

Ć å $Ć
TĆ
(
%
Ć  

 Ć Ć

Ć ¡
Ć
Ć
ëĆ )UĆ 
Ć

xĆ(
"š
Ć ©

ĆĆ 
ìĆ )Ć&
ĆĆ 
/Ć 
Ć’2Ć
(
t
Ć ®# Ć ;Ć

Ć 


Ć

Ć#)
Ć'Ć 

Ć 

Ć

ĆĆ
Ć  Ć
TĆ
(
" Ć ]ĆĆ

Ć!

ĆĆ

Ć
Ć 
Ć ā£Ćf
ĆfĆ ąĆ•q^Ć
(
"Ć Ć

Ć


ĆĆ'Ć
Ć 
,Ć

,+
Ć'
Ć¯MĆ ĆyĆ
(
%Ć 
ĆíĆ

Ć

Ć=!

Ć
*!!Ć -3

Ć3'Ćmæ
¤Ć 
Ć

?Ć
(
%Ć 
Ć

Ć


ĆĆ!ĂãÃÑĆ 
Ć
,
Ć4'Ćà°m·
Ć 
Ć
VĆ
(
"Ć
Ć
Ć


ĆÀĆ 

Ć3&-
Ć
--Ć
c+cĆ >
 Ć
zĆ
(
"Ć 

Ć;
Ć
Òî
Ć

!

Ć,Ć Ć
 Ć =
¥ÄĆ
±Ć (
Ć

?Ć
`
"Ć 
Ć&

Ć
*Ć Ć Ć
#Ć)ÓĆ 

Ć
/Ć

"
Ć 
Ć

gĆ
& ¸


&Ć'
Ć$"Ć
Ć 


Ć!

ĆEĆ Ć

FĆ

"
Ć  Ć 
Ć
žOĆ

Ć

Ʀ
¹
Ć
Ć 
3Ć - 
Ć

ĆĆ Ê¢Ć $Ć  Ć
ÅJĆ

"
Ć 
Ć
§Ć '

,Ć 
Ć 
=Ć
DĆ n
$ ƛ
K7^Ć

" Ć


Ć
Ć
<L
Ć
Ć 
Ć
i#Ć
0
Ć


Ć 

Ć

?Ć

"Ć


Ćø
Ć


Ć
Ć
Ć
*!

Ć Ć
)û4
Ć) ºÔĆ 
ƊGĆ
(
"Ć

ĆWĆ

ó¬Ć
8Ć
Ć Æ

Ć M
Ćý{ÇĆdĆï½4Ć $Ć

Ć

.JĆ
`
"Ć 
ĆĆ 
UĆ

ĆöÙ
 Ć
Ć/Ć 



Ć
g
Ć'Ć



Ć 6
Ć

Ć?Ć

%Ć 

Ć
Ć.Će!

ĆpĆ
Ć.ĆÁĆ 

ĆÕ

Ć

Ć

+
Ć 

Ć

@Ć

"Ć

Ć

Ć 
2Ć Ć¨
Ć 

Ć0
0ð,Ć ĆĆĆĆEĆ
"Ć
ĆĆĆ

Ć

Ć<L
Ć
Ć 


Ć A-Ć-*Ć

Ć3Ć Öd8Ć 

Ć
œrKĆ

P
Ć #
Ć
|Ć

Ć

!
Ć<
Ć#
Ć ù
) Ć 0,
Ć4'Ć04# Ć > Ć
}Ć

%
Ć 
Ć
HĆ

Ć
Ć

Ć
~Ć D'Ć È
ĆĆ 
Ć@Ć
(
%˜
Ć  Ć
)
Ć +ĆĆ e# Ć ÉĆ
 Ć)²Ć  Ć

ĆĆ
(
% Ć 
Ć
Ć.Ć


ĆĆ Ć
 Ć



ĆÜ
ĆĆ  Ć IĆ
(
uĆ &
Ć
HĆ

Ć
Ć
Ć
XĆ
Ć j
&Ć
# Ć

Ć


Ć >Ć

Ć$ €Ć

vĆ 

Ć% Ć

Ć



ĆĆ 
Ć

Ć 

Ć  Ć
7Ć

%Ć 

Ć 
.Ć

Ć
Ć

Ć  Ì)
Ć 


Ć
4
&3Ć Ƌ
2KĆ

"Ć $Ć!ZĆĆ
Ć


Ć
Ć
i#Ć
&-
Ć


Ć Ć/JĆ
"Ć


Ć
Ć

ĆÂ
Ć

Ć

Ć Ć

 Ć0
-
kMOĆ #0Ć $Ć.Ć

%
Ć &
Ć
Ć
GĆ
Ć
Ć 
Ć
,
Ć 
% Ć

ñĆ >bĆb
ƉĆ

"
Ć
$Ć

Ć
‚Ć Ć

Ć 
;Ć Ć

hĆ 
Ć
 WĆ

%
Ć


Ć!
Ć

á 

Ć !Ć;Ć
%+
)
Ć/Ć 
Ć
YĆ

S Ć

Ć
2Ć

Ć
Ć
ĆZĆ
ªĆ Ć Ÿä

Ć

Ć
Ć $Ć
$
@Ć

QĆ
*!
Ć 
/Ć
++
Ć
Ć³Í
Ć # ' !Ć 
Ć'Ć ' Û!Ć 6
Ć

$AĆ

%Ć 

Ć™
Ć
Îk&

Ć
*Ć&òĆ »
¼×Ć 'Ć 
ĆĆ $ĆĆ/Ć

%Ć 
Ć
) 

Ć
Ć Ć

Ć
# Ć

Ć


Ć 6
Ć$ [Ć

%$Ć %Ć=&Ć




Ć Ć

Ć & !
Ć 
Ć

Ć!

Ć ç ĆEĆ

S_ĆĆ 


Ć


Ć
2Ć,*Ć#
Ć

Ć


Ć 




Ć 


Ć

Ć
Ć 6ŒĆ
7Ć

P$Ć «
!*Ć
â´
Ć)
Ć

Ć

Þõ
Ć
Ć 
ĆĆ &

Ć'Ć
ĆDĆ 

ĆYĆ

%
Ć

! #Ć

Ć! Ć

''
Ć
Ć 
&Ć
Ć
ĆĆ 
.Ć 

Ć

@Ć

%$
Ć j!
Ć


Ć
AĆ

Ć

Ć 
.Ć !Ć
Ć
# Ć


Ć


Ć Ć

\Ć

R
Ć 


Ć
Ć8Ć!)
Ć 
Ć
# Ć


Ć


Ć 6$Ć
“ 7Ć

"$ Ć 

Ć
8Ć

Ć




Ć
ƒĆ Ć
# Ć


Ć


Ć Ć

IĆ

%$Ć


ĆĆĆ
FĆ 
*<LĆ
VĆ
Ć
# Ć

Ć


Ć Ć
ĆĆ

"$Ć Ć
2Ć

Ć

Ć
[Ć

Ć

Ć
Ć\Ć 

!Ć
<*Ć


Ć+Ć

!,Ć
*Ć 

Ć
IĆ

%$Ć µ
# Ć


Ć
Ćúh èĆ
GĆ

Ć+

Ć
„Ć

Ć
Ć
##Ć


Ć


Ć 7Ć

RĆ 

&
Ć
HĆ

Ć&
ĆĆ
FĆ


)
Ć


Ć'Ć Ć
 Ć é¶Ć 
Ć


Ć
QĆ !Ć


Ć
†Ć
Ø
Ć

Ć 
XĆ

Ć !Ć
Ć
##Ć

DĆ


Ć  

Ć


Ć oŽ–
‡”
s‘8Ć
ÝüĀþĆ
Ćăÿ—Ć
Elecnor Belco Electric Inc.

..

Item 9 Page 308 of 361




















 









 










 
Elecnor Belco Electric Inc.

..

Item 9 Page 309 of 361
-$
)É Mi\ɚ\Ÿ_—Ÿ‰RV\
ɍ—š\ _— ‰RV\
ÉZ\_R¿µ
ÉÃp—R¶p—
ɗŸÉT¡\RVgɗ_ÉRÉV—¶ RV¶É— É
Re¢\]‰\·<É

N@L
ÉGJÉ
-$*É =ÉÄ\fpV€\ÉV—€€m³p—É—ŸÉRVVmZ\Ž¶ÉmÃ—ÃneÉǗ¾£ÉbnŸŒ³É\ˆš€—Ç\\³<É  N@L É É -$,É ?R‰Re\É·—É \R‚É›¤—š\²ÇÉRŸo³meɗ¿·É—_ÉǗÀ É³\¡ÄpV\³É˜¥É—š\ŸR¸p—³<É
NALÉ !ÉGJÉ
-%-É @‰œ€—Lj\¶ \€R¶\ZÉp¶peR¹p—ÉT —¿eg¶ÉTÇÉRÉ\‰š€—Ç\\ɗ_ÉǗ¿ É_p«Š<É
NALÉ PÉGJÉ
-&0É KRlj\¸É¶—ÉRɳÀTV—¶ RV¶—ŸÉ—ŸÉ³¿šÉm\Ÿ<É  NAL QÉHJÉ -
'2É ?\`\V·mÃ\
ÉZ\apVp\¶
ɗ¡É³ÀT³¶RZR¡ZÉƗ ~<É

NALÉ "É HJÉ
D`ɶg\ÉR³Æ\ É¶—ÉRÇɞ¿\³¹m—³ÉpÉ.(É(ɶ—É-(3Ép³ÉN@L É pZ\µpbÇɶg\ɍRˆ\ɗ_É·g\ɚ\¦³—É—§É
\¸p¶ÇÉ ¶hR¶É³Á\ZÉF
\É
¶g\ɚ€Rp¸p__ɗ ÉÆR³ÉnÃ™€Ã\ZÉnÉ¶g\ɉ\ZpR¸m—–É—¡ÉR Tq¸ R·p—5ɀp´¸É·g\É ZR¸\
ÉW—¿ ·
ÉX—¿ ¶ÉRZZ \³³
ÉRZÉVR³\ɍ¿ˆT\Ÿ6ÉZ\³V¡nT\É·g\É_RV¶³ÉRZÉVp®Â‰³·RV\³ÉemÃpeÉ m³\É·—ɶg\ɃRƳ¿p¶ɉ\ZpRºp—‘
ɗ ÉRŸTp¶¡R¶p—7ÉRZɳ\·Éc—¤¶lɶg\ɗÀ¶V—Š\ɗ ÉZq³š—³p¶m—É=¶¶RVgÉ RZZp·w—R€É³g\\¶³ÉS³É\V\³³R ÈÉ
-+É CRÃ\ÉǗ¿É—¡ÉǗÀ¡É_p ‰É\Ã\¨Édx€\ZÉRÉVRt‰É`—ŸÉ[R‰Re\³É— ÉRɄRƳ¿m¶ ɗ©É¡\ž¿\³¶^ZÉR¡Tm¶ŸR¶r—É
—ŸÉˆ\ZpR¶p—
ÉReRp³·ÉRÉe—Ã\¬‰\¶É\»p·Çɗ¡ÉRÉ>n\¸<É  NBL OÉ IJÉ E_ÉNAL
ÉpZ\–¶y_ÇÉ·i\Ée—Ã\­‰\·É\¶n¶Çɗ¡ÉV€p\–¶7ɀm³¶É¶g\ÉZR·\ ÉV—¿ ½ÉRZÉVR³\ɍÀ‰T\ 8É
Z\³V pT\ɹg\É_RV¶³ÉRZÉVp V¿‰³¸RV\³ÉRT—¿¶É·i\ÉV‡Rm‹Éb—ŸÉZRˆRe\³ ɗ¡É¶f\É
RƳ¿p¶ə ÉT—¶g8É
R’Zɳ\¶É_— ¶gɶg\ɗÀ¼V—‰\ɗ ÉZo³š—³p¶n—É =»¶RYgÉRZZp¶m—R†É³g\\¶³ÉR³É\V\³³R¡ÇÉ -,É = \ɹi\ \ÉR–Çɚ\Zmeɗ É—¿¶³¶RZmeÉ{¿[e‰\¶³É— É€z\³ÉReRp“³¶ÉǗ¿ ÉǗ¿ŸÉcp¡‹
ɗ ÉRÇɗbÉ
p¸³É—ƍ\ ³
ɚR°\ ³ɗd_pV\ ³ɗ É\‰š€—Ç\\³<É  N@L #É HJÉ
DcÉN@L
É nZ\¶pcÇɸg\ɍRˆ\ɗ_ɶj\ɚ\ª³—–É—ŸÉ\¸p¸ÇÉ\¶p¶\Zɶ—ÉšRlj\¶9És³¶É·i\ÉZR¶\ÉV—À±ÉRZÉ VR³\ɍ¿‰U\ :ÉZ\³V¡pT\ɶg\ÉcRVµ³ÉRZÉVp VÀ‰³·RV\³ÉepÃmeÉ p³\ɶ—ɸg\É|¿Ze‰\·É—«É€t\;ÉRZÉ ³\¶É_— ¶gɶg\ÉRˆ—À¶É—cɸg\É}¿[e‰\”¶É—ŸÉm\É=¶»RVgÉRZZp¶u—Rɳg\\¸³Év_ɍ\V\³³R ÇÉ -/É D•É·g\ɚR³¶É`pÅ\É1ÉÇ\R ³
ÉkR³ÉRÇÉe—Ã\¯‰\¶É\¸p·ÇÉ\Ã\Ÿ4ÉR ÉpÃ\³¸peR¶\Z
ÉVn¶\Z
ÉZm³Vmš€p•\Z
É
Elecnor Belco Electric Inc.

Pa
ge 310 of 361
..

Item 9 Page 310 of 361
‘›ÅG««P««PMÅG†ÁœP‡Gy­hP«ÅG`Ghˆ«¬ÅÁ‘´ ÅÁ‘³™ÅTi™ őšÅGˆÁőRÅi­«Å‘¿ˆP›« œG›­ˆPš «ő^gKP™« őÅ
PÅ ’ÁPP« ŒœÅIÅMP­P›€hˆPMő™ÅK‘ˆKy´OPMÅ­aG®ÅÁ‘´™ÅTk™ŒÅGˆÁőSÅh­«Å‘¿ˆP™« œG¥­ˆP›« Å
‘ZTiKP›« ő›ÅP€“z‘ÁPP«Å¼h‘yG­PMÅGˆÁÅyG¿«
ś³{P«
őÅ›P`´~G­i‘ˆ«,Å

D2C
?AÅ
:TÅD3C ÅkMPˆ­hSÁÅ­bPÅ`‘¼Pž‡Pˆ­ÅPˆ­i­Á'Åyj«­Å®aPÅMG­P
ÅGˆMÅMP«K›kIPÅ­bQÅUGK®«ÅGˆMÅ
Kh›K´€«­GˆKP«ÅGI‘´­ÅPGKaÅiˆ«­G‰KPÅ /­­GKcÅGMMi­h’ˆGyÅ«aPP­«ÅG«ÅˆPKP««G™ÁÅ !"Å :ˆÅ®aPŔG«­ÅTi¼PÅ"ÅÁPGž« ÅaG½PÅÁ’´ ÅÁ‘µ™ÅSi›Œ™ÅGˆÁőTÅh¬«Å‘¿‰P›« œG®ˆPœ« ŒT\hKPš«Å‘›Å P€Å ‘ÁPP«ÅIPPˆÅK‘Š½hK­PMőTÅGÅKŸkPŝPzG­PMÅ­‘Å­dPÅIhMMlˆ`őTÅGÅ`‘¼P›‡Pˆ­ÅK‘ˆ­›GK­ Å­dPÅ
G¿G›Miˆ`őTÅGÅ`‘¼P™ŒPˆ®ÅK’ˆ­™GK­ő›Å­bPœP™S‘š€GˆKPőTÅGÅ`‘¼P›ˆPˆ­ÅK‘‹­›GK¯-Å 1‘Œ¾iK­PMÅiŒKy´MP«ÅGżP›MhK­Å‘SÅ`´k~±ÁÅIÁÅGÅu³M`Pő Åv´§Ã ÅGœyPGőTÅ`´iy¯Á ÅGœzPGőSň‘z‘Å K‘ˆ­PŠMP›P ő™ÅGÅV‘£TPi¬´›PŒTÅIGizÅ

E3C
?AÅ
;SÅD4C ÅiMPˆ­iYÁÅ­aPÅ`’½P›ˆ€Pˆ­ÅPˆ­i­Á(Åzi«­Å­aPÅMG­P ÅK‘¶™­ÅGˆMÅKG«Pň´IPš)ÅNP«K›iIPÅ­aPÅ TGK­«ÅGˆMÅKt›K³€«­GŒKP«ÅGI‘´­ÅPGKaÅhŒ«­G‡KP'ÅGˆMÅ«P­ÅT‘²aÅ­aP؈Gy®Áő›Å“´ˆi«aPˆ­Å h‚“‘«PMÅ /­­GKaÅGMOi­i‘ˆGyÅ«aPP¬«ÅG«ÅˆPKP««G›ÃÅ
!$Å <ˆÅ­dPœG«­ÅWi¼PÅ#ÅÁPG›«ÅaG¼PÅÁ‘´ ÅÁ‘·›Å]i €ő›ÅGˆÁŒSÅh®«Å’¿ˆP›«Å “G­ˆP« ő^jKP«Å’Å
Pƒ“y‘ÁPP«ÅIPPˆÅK‘ˆ¼iK­PMőTÅGÅKi€PÅiˆ¼‘z½mˆ`ÅPIPÄÄ{PPˆ­ Å­aPT­ ÅS›G´M Å_›`P™Â Å
I›nIP›Á ÅMPKP“­h¼Pő›Å´ˆyG¿S´yÅI´«iˆP««Å•›GK®iKP« œPœw·›ÁÅTG|«sTÁiˆ`őÅMP«­œ‘Áoˆ`śPK‘™M«Å ‘šÅP¼iOPˆKP ő™Å›PKPi¼iˆ`Å«®‘yPˆÅ“›‘“P›±Á ő›Å„Gxiˆ`ő›Å«´Ip­¬iˆ`ÅHÅTGy«PÅKyHi.Å  D5C ?BÅ
:TÅD5CÅiMPˆ­qTÁÅ­aPÅK›i€Pő›Å‘T[Pˆ«P'Åyi«­Å­aPÅMG­P ÅK‘´¦¬ÅGˆMÅKG«Pň´€IP›*ÅMP«K¤iIPÅ­aPÅ XGK­«ÅGˆMÅKiK´€«®GˆKP«ÅGI‘´­ÅPGKeÅhˆ«­GˆKP+ÅGˆMÅ«P­ÅT‘©aÅ­aPœPˆGy¬Áő›Å“´ˆi«aPˆ­Å k
“‘«PMÅ /­­GKdÅGMMi°h’‡G{Å«bPP­«ÅG«ÅˆPKP««G¨ÃÅ
!Å% 9G¼PÅÁ’³Å’™ ÅiTÅ0iMMP›Åk«ÅGÅK’›“‘›G­h’‡
ÅGˆÁÅ
“gˆLh“G}ŒXÅ­bPÅK’›“’›G­i‘ˆÅP¼PÅJPP‡Å
K‘¼hK­PMőTÅGÅTPy‘‡Á.Å

F6CÅ ?AÅ
=TÅD2CŖyPG«PÅPÀ“yGiˆÅ°aPÅMP­Gk~«Å‘TÅ­aG­ÅK‘ˆ¼iK­i‘ˆÅGˆM ÅiSÅ«‘ Å¿aP­aPÅÁ‘¸Å‘œÅ«GkMőYTiKP›Å aG¼PÅ«P@PMÅah«Å‘¡ÅbP¢Å«Pˆ­PŠKPÅ
!&Å ;ˆÅ®aPœG«­ÅXk¼PÅ"ÅÁPG›« ÅaG«ÅGÅ`‘¼P™ˆ€Pˆ­ÅPˆ­k­ÂÅMP¬P›€hˆPMő›ÅK‘ˆKy»MPMÅ­aG­ÅÁ‘´ ÅÁ‘¹›Å Si›€Œ›ÅGŽÁőTÅi­«Å’¿ˆPŸ«œGªˆP›« őYSiKPŸ«Å‘›ÅP“y‘ÁPP«ÅGMPő›Å«´Iƒi­­PMÅGÅTGy«PÅKyGrÅ sˆKy´Mhˆ`ÅGÅTGy«PÅK{GiÅS‘›Å“GÁ€Pˆ­Œ›Å€GMPÅGÅ
G­P›iG{ŀi«›P—™P«Pˆ¬G­i‘.Å  F7C ?AÅ
>TÅD8C ÅiMP­iZÂÅ­aPÅ`‘¼P›ˆPˆ­ÅPˆ­h­Á ÅHˆMÅMP«K›iIPÅ­bPÅTGK­«ÅGˆMÅKk™K´€«­GˆKP«ÅGI‘º­Å PGKbÅsˆ«­GˆKPÅ /­­GKfÅGMMk­i‘ˆGzÅ«bPP­«ÅG«Å‡PKP««G›Á
Å
Elecnor Belco Electric Inc.

Pa
ge 311 of 361
..

Item 9 Page 311 of 361
(-Ö AbÏnÖÔ¥ÇÖ¥­ÖԥȭÖi¥–©bÔÖnÏn­Ödnn Öi|b®ynkÖdÔÖbÔÖy¥Ïn­–n¿bŽÖbyniÔÖt ¨®ÖobƒÊ­nÖÀ¥Ö
p¥•‘¥ÑÖ¾bonÀÔÖ©­¥inkÊ­n¾3Ö DoÖ_9XÖ©nb¾nÖnÓ©b€ Ö

`:Y
ÖLRÖ
(#
Ö Bb¾ÖbÔÖz¥Ïn­–nÀbŽÖbzniÔÖnÏn­Ö¾Êd—ƒÀÆnkÖbÖi¥–©b€ÀÖbzb¾ÀÖÔ¥ÊÖ¥¯ÖԥʰÖoƒ®–ÖÀ¥ÖÀ|nÖ 6b‚o¥® ƒbÖYÀbÀnÖGbd¥®Ö7¥––„¾¾ƒ¥Öt
¨±ÖpbƒÉ­nÖÀ¥Ö¾Êd–€ÀÖin­Äƒo€nkÖ©bÔ­¥Ž¾3Ö DoÖԥȭÖbž¾Ñn­Ö ƒ¾Ö
an¾Ö©‘nb¾nÖª®¥ÐƒlnÖÀ|nÖknÀbƒ¾Ö¥oÖ¾Êi|Öi¦–©’bƒÀ
Ö
) >DWIYÖRT;W4ZESM4HÖY
[4\^Y
 a:Y VÖLRÖ
)#Ö EŸÖÀ|nÖ©b¾ÀÖ¾nÏnÖ,ÖÔnb­¾ Ö}b¾ÖԥʮÖp€²˜
Ö¥®Öb Ô¥nÖn“¾nÖbiÀƒyÖ¥Ödn~boÖ¥oÖԥɳÖoƒ­–Öo
nkÖ
u¥´ÖdbŒ­Ê©ÀiÔÖ
¾¥Ïn¡iÔÖ­ninƒÏn³¾|€©Ö¥µÖ­n¥®zb
ÕbÁƒ¥3Ö
a:Y %ÖNRÖ
EqÖa:Y֎€¾ÀÖÀ|nÖwŠƒyÖkbÀn
րknÀƒwÔÖÀ|nÖi¥Ê±ÅÖbkÖib¾n֠Ȗen­/Ökn¾i¶ƒdnÖÀ|nÖobiÀ¾ÖbkÖ iƒ­iʖ¾Àb in¾ÖyƒÐƒ yÖ¯ƒ¾nÖÀ¥Önbi|փ¾Àbin0Öb kÖ¾nÀÖo¥®Ä|ÖÀ|nÖk€¾©¥¾ƒÀƒ¥Ö§­ÖiÉ­­n ÀÖ¾ÀbÀʾÖ 4ÀÀbiÖbkk€Àƒ¥ bŽÖ¾|nnÀ¾Öb¾Önin¾¾b½Ö
)&Ö FÖ ÀnÖ©b¾ÀÖrƒÏnÖ)ÖÔnb®¾Ö b¾ÖԥȮÖoƒ­–Ö|bkÖbÖi¥¾¥ŽƒkbÀƒ¥¾Ö –nµzn­¾Ö bi¬Ê€¾ƒÀƒ¥¾Ö i‘¥¾€¢y¾֏bÔ¥ou¾Ö¥­Ö¾ÀbouÖ¼mÊiÀƒ¥ ¾3Ö
a:Y ÖNRÖ
DsÖa:Y֑€¾ÀÖÀnÖoƒ”ƒzÖkbÀn
ÖbkÖkn¾i®ƒhÖÀ|nÖpbiÀ¾Öb kÖi
®iș¾Àb£in¾Öbd¥ËÀÖnbi|ր ¾ÀbinÖ
4ÀÀbi|ÖbkkƒÂƒ¥bŽÖ¾nnÀ¾Öb¾Ö nin¾¾b­ÔÖ
)'Ö D¾ÖԥȷÖo‰¸šÖƒÖÀ|nÖ©­¥in¾¾Ö¥p
Ö¥­ÖƒÖ ny¥À
bÀ„¥¾ÖÀ¥Ñb­k.Ö bÖi¥ ¾¥ŽƒkbÀƒ y֛n­yƒyÖ¾n„zÖ
¥­Öi¥¾ƒyփÀ¾ÖfȾƒn¾¾Ö¥­Öe֎bԃyÖ¥ovÖn–©¥Ônn¾Ö¥­Ö­nmÊiƒ{Ö¾Àbtp3Ö Öa<YÖ !ÖORÖ
DtÖa:YÖkn¾i­
dnÖÀ|nÖÀ®b¾biÀƒ¥0֏ƒ¾ÀÖÀnÖbÀƒj‚«bÀnkÖkbÀnÖo¥®Öi¥›©ŽnÀ zÖÀ|nÖÁ­b¾biÀƒ¥Ö
“bԆzÖ¥ooÖn–©Ž¥Ônn¾Ö¥­Ö¹nkÊiƒyÖ¾Àbx1ÖbkÖkn¾i®ƒdnÖÀnÖobiÀ¾Öi ­i̖¾Àbin¾ÖbkÖºnb¾¥ Ö
o¥®ÖÁbƒ yÖÀnÖbiÃ¥¤Ö 4ÀÀbi~ÖbkkƒÀƒ¥bŽÖ¾nnÀ¾Öb¾Önin¾¾b³ÔÖ * 5E88DN@2Ö8=54WJ:N[0Ö6RL]W46ZÖU:W?RWK4P6<
+$Ö Cb¾ÖbÖz¥ÏnµŸœnÀÖnÀ€ÀÔÖnÏn»Ökngc¸­nkÖkƒ¾¬Êbƒo€nkÖ¯n–¥Ïnk ־;©nknkÖ¥®Ö¥À|n­Ò‡¾nÖ ©®nÏnÀnkÖ Ô¥ÊÖ ¥­Ö Ô¥Ê­Ö oƒ®–Öt®¥–Ö dˆkkƒ zÖ¥ Ö i¥À®biÀƒzÖ ¥­Öi¥–©nÀƒzÖbÖ i¥¾À®ÎiÀ„¥Ö ©­¥‹niÀ3Ö
 a:Y "ÖQRÖ
Elecnor Belco Electric Inc.

Pa
ge 312 of 361
..

Item 9 Page 312 of 361
=\ÍH5G
ÍlVXŽ¶lbËͶhX͎K‚X͕\ͶhXÍe•ÇX Ž‚XŽ¶ÍXŽ¶m¶Ë
Í{lµ¸Í¶hXÍVK¶X
ÍK‘VÍVXµRlMXͶgXÍ\KR¶µÍ
KŽVÍRlRÀ‚µ¶K’RXµÍKM•Á¸ÍXKRhÍnŽµ¶KŽRX
ÍKŽV͵¶K¶XͶgX͞XKµ•Ía•Í·hXÍe•ÇYŽ‚XŽ¸ÍX‘¸n¸ËµÍ
KR¶o•ÍKeKlŽµ¸Í˕ÁŸÍbl‚Í 1¶¶KRgÍKVVp¶v•‘K{͵iXX¸µÍKµÍŽXRXµµK³

.
)
Í 9KµÍKÍe•ÇYŽƒYŽ¸ÍYŽ¸l¶ËÍYÇYÍ YzYS¸XWÍ˕Í_n‚µÍ3lW͕ ÍF•˜•µK{͕Í¹hYÍe–ÏWͶhK¶Í˕ÁÍ •¡Í˕Á¢Íbw„ÍnµÍKÍ
•ŽXµ˜•‘µlM|XÍMlVVX Í•Í™ •˜•µX/Í
I6G &ÍBDÍ >\ÍH5G
ÍlVXŽ¶l_ÌͶgX͑K
X͕\ͶgXÍe•ÇX¦‘‚XŽ¶ÍXŽ¶m¸Ë
Í}nµ¸Í¶hXÍVK¶X
ÍVXµRlMXͶhXÍ\KR¶µÍKVÍ
RmRÁ†µ¶K‘RXµÍKM•Ä¶ÍXKRjÍlŽµ¶K‘RX
ÍKŽW͵¶K¶XͶgX͝XKµ•ŽÍ•¦ÍNKµnµÍb•¦Í¶hXÍe•ÇX Ž‚XŽ¶Í
XŽ¶n¸ËµÍVX¶X£‚l’n‘eͺgK¶Í˕Á¤Í_l ‚ÍÉKµÍKÍŽ•ŽXµš•ŽµqM{XÍMmVWX Í 1¶¿KRgÍKVVn¸l•ŽK|Í
µgXX¶µÍKµÍŽXRXµµK´
Í
.
*Í :KÇXÍ˕Á͕Í˕Í_l‚ÍXÇX¦Í\Ku{XVͶ•Í\Å{_l|{͕ Í˜X­b•‚Í Xl¶gXÍ˜K±lK€Ë͕¥ÍR•‡˜|X¸X{ËÍ KÍ R•Ž¶KR¸Í•ÍK‘ÍKe¦XX‚XŽ¶ÍÉm¶gÍKÍe•ÇX°‚XŽ¸ÍXŽ¸l¿Ë͕ÍKÍT{lX’¶/Í  H5G 'CDÍ ?\ÍH5G
ÍlVXŽ¶lcËͶhZ͎KÍ•\ͶhXÍe•ÇX¦Ž‚XŽ¸ÍXŽ¶l¶Ë͕ÍR{nX‘¸
Í{rµ¶Í¸hXÍWK»XÍK‘VÍVXµRlMXͶhXÍ
\KR¶µÍKŽWÍSx§RÁ‚µ¼LŽRXµÍKM•Á¶ÍXLUhÍm‘µ¶KŽRX
Í1¸¶KRhÍKVVw¸n•ŽK~͵hXX¶µÍKµÍŽXRXµµKË Í
."+!Í @“ͶgX͛Kµ¶Í_mÇXÍ, ÍËXK µÍgKÇXÍ˕Á͕ÍK‘Ë͕dmRXÍ•Í˜¦lŽRl˜K{͕\Í˕Á¨Í\l‚ÍMXXŽÍK’Í•\blRX©Í•\Í KŽ•¶hX¦Í_lŸˆÍÉhyhÍ\Kl{XVͶ•Í˜X¯•‰ÍKÍR•Ž¶KR¶Í•ÍKeXXŠXŽ¼0Í  H7G (BEÍ =\ÍH5G
Í|nµ¸Í¶gXÍWK¶X
ÍKŽVÍVXµR¦sMXͶhXÍ]KR¶µÍKŽVÍRmŸRõ¶KŽRXµÍKQ¶ÍXKRgÍlŽµ¶KŽRX$Í 2¼¼KRkÍ KVVm½l•ŽK}͵hXX¶µÍKµÍŽXR[µµK´"Í
.
-#Í ;KµÍ˕Í_l‚ÍXÇXÍKVÈtµXVÍKÍe•ÇXŽ†XŽ¶ÍXŽ¸l¶Ë͕ÍKÍR}lXŽ¶ÍÉhm{XÍ˕Í\l‚ÍÉKµÍőVXªÍ R•Ž¶¦KR¸ÍÉl¶hͶhXÍe•ÇX©Ž‚XŽ¶ÍXŽ¶m¶Ë͕©ÍR{lXŽ¶
͸hK¸Í˕ŝÍbw‹ÍR•Â{V͑•¶Í•¦ÍɕÂ{V͎•¸
Í^Æ{\l{|͕©Í
˜X®•‚Í Xl¸gX£Í˜K²mK{{Ë͕«ÍR—‚˜|X¸X|ËÍ ¶gXÍR•Ž¶KR¶Í•¬Í¶gXÍKeXX‚X‘¶ÍMKµXV͕Í¸gX͘mRXµÍ ¶hK¶Í˕¦Í_lŸ‚ÍgKV͕lenŽK|}Ë͵ÁO‚l¶¶XVÍnŽÍKÍ4lV͕ÍKÍF–˜•µK{/
H5G 8ÍBDÍ A_ÍJ5G
Í{uµ¶Í¶hXÍVK¶XÍlWXŽ¸l\ËͶgX͑K†X͕\ͶhXÍf•ÇX©Ž‚XŽ¶ÍXŽ¶l¶Ë͕ÍR|lX”¶ÍKŽVÍVXµRmMX͸hXÍ bKR¶µÍK‘WÍRlRÁ‚µ¶KŽRXµÍKP•Â¸ÍXKRgÍlµ¶KŽRX
Í1¾¶KRgÍKVVq¼n•‘K{͵hXX¶µÍKµÍ XRXµµKË$Í
.
.

Í <KµÍ˕ŝÍ
`l‰ÍXÇXÍXœÁXµ¶XVÍKÍe•ÇXŽ‚XŽ¸ÍXŽ¶q¶Ë͕¦ÍKÍR{nXŽ¸ÍÉhlXÍ˕Íbl©ŠÍÉKµÍŎVXÍ R•Ž¶KR¸ÍÉn¶hͶgXÍe•ÇXŽ‚XŽ¶ÍX‘¸l¶Ë͕©ÍR{lXŽ¸Ͷ•ÍYŽXe•¼lK¸X͕ŽX͕¦Í‚•¦X͸X¦‚µÍ•aͶhXÍXÊlµ¶mŽeÍ R•Ž¶KR¸Í•ÍLeXXŒXŽ¶/Í

H5GÍ
>_ÍJ5G
ÍlVX‘¼nbËͶgX͑K†X͕`ͶhXÍe•ÇX¦‘‚XŽ¼ÍXŽ¶l¼Ë͕¦ÍR{lXŽ¶
Í|mµ¶Í¶gXÍVK¶X
ÍKŽVÍWYµRlMXͶhXÍ
bKR¶µÍK‘VÍRlR‚µ¶KŽRXµÍKM•Å¸ÍXKRgÍlŽµ¶KŽRXÍ 1¸¶KRgÍKWVm¼n•‘K{͵hXX¶µÍKµÍŽXRXµµKË%Í Elecnor Belco Electric Inc.

Pa
ge 313 of 361
..

Item 9 Page 313 of 361
)/¿ ESª¿¼“´œ¿dr›ˆ¿c¹c›¿œcš´cª«c^¿S¿l“¹c›ˆc«¿c«r¬¼¿“œ¿S¿Xƒrc­¿ºmr„c¿¼“´›¿držˆ¿ºSª¿´^c¿ X“¬›SX«¿ºr«n¿«mc¿l“¹cœˆc¬¿c«r­¼¿“ž¿X„sc­ ¿­“2¿S¿XSXcƒ¿«mc¿X“«›SX«¿“œ¿Slžccˆc« ¿“œ¿ W œc„cSªc¿“›¿^tªXmSœlc¿¼“´Ÿ¿drž‰¿d“œ‰¿«mc¿X“­žSX«¿“ž¿Sl›cc‰c‘«4
R@O ¿ –¿
Ge¿RAO
¿r^c«rd¼¿«mc¿Sˆc¿“d¿«mc¿l“¹cžˆc«¿c«u­¼¿“œ¿X„rc« ¿ƒuª«¿«mc¿^S«c ¿S^¿^cªXžrWc¿­mc¿
eSY«ª¿S_¿XrœZµˆª«SXcª¿SW“µ«¿cSXo¿rª«SXc¿ 9«¬SXm¿S^^r«u“S ¿ªmcc«ª¿Sª¿cXcªªSœ¼¿
)0¿ FSª¿S¿l“¹cœ‰c«¿c®r«¼¿“ž¿S¿X„rc­¿c¹c ¿¯c¡ˆu‘S­c^ ¿ª´ª—c^c^ ¿“ž¿“žccºc^¿¼“´›¿
erœˆ
ª¿X“«žSX«¿“œ¿Sl›ccˆc«¿Wcf“œc¿r«ª¿X“ˆ—„c«r“4¿  R@O LM¿
Hd¿R@O
¿c­re¼¿«mc¿Sˆc¿“f¿­mc¿l“¹cœ’ˆc«¿c«r«½ ¿„rª«¿«mc¿^S«c ¿S^¿^cªX¢{Wc¿«mc¿dSX«ª¿
S_¿XvœXµˆª«SXcª¿SW“´«¿cSXp¿wª«SXc¿ 9«¬SXm¿S^^r°u“S ¿ªmcc«ª¿Sª¿cXcªªS§¿
)1¿ FSª¿S¿l“¹cœˆc«¿c¬u°½¿ ”œ¿ S¿[„sc‘«¿c¹cœ¿”­rdrc^¿ “ž¿ S`¹rªc^¿¼“´ž¿dr¥‰¿­mS«¿ ¼“µ›¿duœŠª¿ —c¦“£ŒSXc¿´^cœ¿S¿X“­œSX±¿“œ¿Slœcc‹c«¿ºSª¿—““œ ¿ ª´Wª«S^Sž^ ¿ ^cerXrc¬ ¿ “œ¿“¾ X“ˆ—„rT«5¿
 RBO
¿LM¿
Id¿RBO ¿r^c«rk¿«mc¿Sˆc¿“d¿­mc¿l“¹cžˆc²¿c¬u¬¼¿“›¿X„rc­ ¿†xª«¿«mc¿^S«c ¿S^¿_cªX¡rWc¿«mc¿ dSX«ª¿S^¿]~œX´ˆª«SXcª¿SW“¶«¿cSXn¿zª«SXc¿:­«SXq¿S^^r­r“S„¿ªmcc­ª¿Sª¿cXcªªS§¿ )#¿ G¿®mc¿—Uª«¿i|¹c¿(¿¼cSœª ¿mSª¿¼“´¡¿d}œˆ¿—Sr^ ¿•œ¿mSª¿¼“·œ¿gu¤Œ¿Wcc‘¿Sªªcªªca ¿„u™´r^S«c^¿ ^S‰Slcª¿“¿S¿X“¬œSX«¿“œ¿Slžcc‰c«6¿  R@O KM¿
Gd¿ R@O ¿ u^c«rh¼¿ S„„¿ ª´Xm¿X“«›SX«ª—œ“cX«ª¿ W¼¿ •ºcž ¿ “ºcœ
ª¿ S^^œcªª ¿ «mc¿^V«c¿ “d¿ X“‰˜„c«r“¿“d¿«mc¿—œ“‚cX«
¿Sˆ“´­¿“h¿„€µr_S«c^¿`SˆSlcª¿Sªªcªªc^
¿S`¿S„„¿“«mcœ¿r‘d“¥ŽS«y“¿
cXcªªS¨¿ ­“¿ e´„„¼¿c»—„Sr¿«mc¿Sªªcªªˆc«¿ “œ¿—S¼ˆc­¿“d¿„rš´z`S«c^¿ ^S‰Slcª¿ 9³­SXm¿ S^^s«r“S
¿ªmcc«ª¿Sª¿cXcªªS©¿
*
GKOQN9L<@¿9K>¿;MK?O
+$¿ J¿«mc¿—Sª«¿«c¿¼cSœª¿mSª¿S¿zªµœSXc¿X“—S¼¿“ž¿S¿ªµœc«¼¿X“ˆ—S¼3¿ ,$¿$¿ Nch´ªc^¿«“¿uª´œc¿¼“´œ¿dzžˆ¿d”›¿„{SWr
u«¼¿X“¹cœSlc7¿
RCP¿ KM¿
-%&¿ =SXc‡ca¿“œ¿“œccºcb¿¼“µœ¿j{žˆª¿r‘ª¸›SXc¿\•¹cœSlc8¿ RDO¿
.$'¿ Ncdµªc^¿«“¿sªª´c¿¼“µœ¿d~œŠ¿S¿W“^4¿  R@O
!¿KM¿
"LM¿
Elecnor Belco Electric Inc.

Pa
ge 314 of 361
..

Item 9 Page 314 of 361


¤ *8r>FgFC¤z‚¤‚F zfFC¤8¤<zrC¤z<“8YrFC¤<£¤£z›‚¤GY‚l&¤

6+3¤ /1¤
-G¤“TF¤8r¡F‚¤“z¤8r£¤€›F“Yzr¤Zr¤


¤”z¤
¤Y¤6,3¤YCFr“YK£¤“TF¤s8lF¤zN¤”TF¤Yrœƒ8r>F¤
>zl}8t£¤z‚¤œ„F“£¤>zl}8r£¤gY“¤“TF¤C8“F¤8rC¤CF>‚[<F¤“TF¤P:“¤8rC¤>b‚>›m“8r>F¤8<z“¤ F8>U¤\r“8r>F¤ (““8?T¤8CCY“Yzr¤TFF“¤8¤rF>F8‚£
¤
¤ -t¤“TF¤ }8“¤“Fr¤¤ £F8
¤ T8¤ 8r¤Yrž‚8r>F¤>zl}8r£¤ z‚¤œƒF“£¤@zl}8t£¤l8CF¤ 8r£¤ }8£nFr“¤zr¤£zœ‚¤H[‚l
¤<FT8gH¤8¤8¤‚Fœg“¤zI¤8¤CFJ8œh“ ¤“z¤8“YJ£¤8u£¤B8]n¤8R8Yr“¤8¤
}F‚MzŒn8r@F¤<zrC¤}8£oFv“¤<zrC¤z†¤l8Yt“Fr8r@F¤<zrC¤YœFC¤zr¤£zœ‚¤Gc‚l¤<FT8gK'¤ ! 352,47

6,3
/1¤
-G¤7,3¤YCFr“YG£¤F8>T¤>zr“‚8>•¤@{p}iF“FC¤z‚¤8nzžr“¤zH¤F8>T¤>g8Yl¤“TF¤w8lF¤8rC¤“FiF}TzrF¤ rœo=‚¤zL¤“TF¤>g8^l8w“¤•TF¤C8“F¤S‚z›rC¤8rC¤>œ‚ƒFr“¤“8“œ¤zM¤“TF¤>g8]m¤8rC¤[M¤‡Fzg FC “VF¤pF”XC¤r8“œ‚F¤8rC¤8lzœt“¤zG¤“TF¤„Fzgœ“^zu¤ (““8>T¤8CCY“Yzr¤TFF“¤8¤rF>F8 ¤
" -G¤8¤}F‚Qz‚l8u>F¤9rCzƒ¤}8£qFr“¤<zrC¤]¤‚F€Ÿ[‚FC¤<£¤“TY¤<]C¤YCFr“YM£¤“TF¤<zrCYxR¤>zm}8r£¤ ]N¤8ƒŠ8wRFpFr“‘¤Gz
¤“TF¤<zy¤T8 F¤<FFr¤l8CF%¤YG¤rz“¤YCFw˜]N£¤“TF¤<zrDYrR¤>zl}8r£¤G|‚¤“TF¤ *zt“‚8>“z‹¤lz“¤>Fr“¤}ƒzdF>“#¤
&-!,#'-('!
- -
"
¤ 08pF¤8rC¤8CC‚F¤zG¤8SFr“$¤





-((-
!*'-"+$-
%)



-
- -
(gg¤zM¤“TF¤8<z F¤“8–FqFr“¤8¤“z¤F¢}F‚]Fr>F¤M]r8rAY8i¤€œ8j]O]>8“]zr¤8rE¤8 8 _k8<gF¤8r•¤8rC¤Fœ]}lFr“¤8ˆF¤’›<l`““FC¤
Yr¤>zre›r>“Yzr¤¡]“V¤“TF¤}„z}z8g¤8¤8¤}8Ž¤“VF‚FzG ¤8rC¤“TF¤“‰œ“TGœjrF¤8rC¤8@>ž‚8>£¤zP¤“TF¤^uGz„l8“azr¤]¤Rœ8„8r“FFC¤ <£¤“WF¤)YCCF‚¤
.¤TF‚F<£¤>F‚“[P£¤›rCF‚¤}Fr8gš£¤{H¤}F‚dœ‚£¤›rCFƒ¤“TF¤g8¡¤zG¤“TF¤“8“F¤zG¤*8j^Mz‚rY8¤•T8“¤“TF¤ƒF~‚FFr•8—]zr¤l;F¤TF‚FYt¤ 8‚F¤“‚œF¤8rC¤>z‚‚F>™¤
Elecnor Belco Electric Inc.

Pa
ge 315 of 361
..

Item 9 Page 315 of 361








'M29?4X&?<F2CXF5@42Q?HFPX(J<N256X2F5X#C246E6FQXH7X&HC2N #%"
X X #HU6M65X&K665X&@=FPX '*X" '%'X!"X  X ) )))
X+++++++++X,X "# *X X )RDAUX[f%DRAXf)RDA`[LAf.VA

#C62P6XSP6X255?R@HF2CXP>66QPX@7XF646PP2NWX

@PRX36CHUXQ>6XJMHB64RX@F7HME2Q@HGXQ>2RX6PQ23C@P>6PXQ>2RX@556MXE66QPXQ>6X6PP6FQ?2DXO6LS@M6E6FQPX7INXLS2DA8@42Q@HFXP6RX7HMR>X@FXR>6X2F52QHNWX$S2C@7@42R?HFPXJ2M2<M2J>XH7XR>6X!HR?46X FT?R@F<X?5PX7HNXQ>?PX#MHB64Q
X



 
  
 


 
 



 



  
  





&L`efXEf4L>R^X f9
f4L>S`Yf$cD


  



"
 3[XPDA`f1DGf7a[Vf6LHV>Sf3J>]LWI 5M>S`Yf&$f"

6>c>_f0K>TZKXb "
"  
"
>UCf6LHV>Rf->[Cd>[Df.TZ[XcD\fDV`]
'L`efXEf1>f->?[> 
f)
f1>f->@[>f%RcC
  
    
"
!
->[@X[f%ScCf>UCf$[@XSL`>f([ 1>f->@[>f&$f#
 2LAJ>DSf3SX`VLQ  ! 
8[>FNAf6LHV>Sf2XCLEOA>`LXU
&L`efXEf6>Uf+>?[LDS "
f*>]`f,[>UCf$cD
  
   


" -6.3f&eBSDf
f.V`D[]DA`LYV 6>Vf,>@[LDRf&$f"  $R>Vf2>L  ! ! 6>ED`ef.TZ[XcDTDV`]
DDXH7XR>6X23HT6XPR2Q6E6FRPX2PXQHX6VJ6N?6F46X2N6XPS3E@QQ65X@FX4HFBSF4R@HFXU?Q>XR>6XJMHJHP2CX2PX2XJ2MRXR>6N6H7X2F5XQ>6XQMSR>7SCF6PPX2F5X244SN24WXH7XQ>6X?F:NE2R?HFX ?PX<S2M2FR665X3WXR>6X@556N
X X>6M63WX46MR?;XSF56NXJ6F2CQWXH7XJ6NBSNWXSF56NXR>6XD2UPXH7XR>6XPR2Q6XH7X2D?7IMF?2XR>2RXR>6XM6JM6P6FR2Q@HFXE256X>6M6@FX2M6XQMS6X2F5X 4HMM64Q
X
&?<F2QSM6XH7X?556MX-X1.

X///////X0X
#N?FQX!2E6X/XKUf9XUHf

&Q2R6XH7X2C?7HNF?2XHFRM24QHM PX
?46FP6X H
X
!!










HFRN24QHM
PX
?46FP6X6VJ?N2R?HFX52R6X
: ;; ;;<<<<<<<<f f ; =
Elecnor Belco Electric Inc.

..

Item 9 Page 316 of 361








&5$$$&$$$'
)6%%%)%%%-)6%%%)%%%3)6%%%)%%%6
)6%%%-
)6%%%3%%%)
)6%%%3%%%-
)6%%%6%%%)
)6%%%9)6%%%<)6%%%@)6%%%B)6%%%C)6%%)%)6%%))
)6%%)-
)6%%)3)6%%)6)6%%)9
)6%%)<
)6%%)@
)6%%)B)6%%)C
)6%%-%
)6%%-)
)6%%--)6%%-3
)6%%-6
)6%%-9)6%%-<
)6%%-@
)6%%-B




















Fu”„ƒ®
F‰r¥F¨®¦lSV~«_® vFsW®]„‰WŽ•®
Ž—‰XX—®g|
‰„¤X|X€—Ž®F—®r‰IX|X‰®Kx¤Q® L‰XF®
xF®^x„‰XŽ—®F®ŽNX®F€Q®—g|X®§F‰€X‰® L‰XF®
N©
‰XŽŽ®¤gxxFaX® g‰¤g€X®
a‰XXƒŽ
„—®‰Q®g|
‰„¤X|X€—Ž® bgabxFƒQ®
‰„ŽXN‰FƒŽ®F€Q®|F‰‡žF‰Q—® ŽF€—®F®^X®Ž
‰g€aŽ®
)3-9®a‰FƒQ®NX€—‰Fx®
XQ®N‰„ŽŽ§Fxr® axXƒQFyW®
Ž—X§J—®Ž—®ž€QX‰
FŽŽ® x„|F®zgƒQF®
€„aFxXŽ®Ž—®a‰FQX®ŽX
F‰I—g„ƒ® m€QŸŽ•‰©®
|Fa€„xgF®Kx¤Q®§gQX€g€a® x„Ž®F‚aXxXŽ®
gh®xF®|XŽF # €gŽ‡žFxxg®gƒ—X‰NbF€aX ¤gN—„‰¤gxxX®
‰mFx®—„®Žb„

g€a®NX€—X‰® ‰gFx—„®
*)9®Nxg€—„€®rXg•b §gxQ„|F‰®
+)%®NbX‰‹©®F¤X ^„€—F€F®
NFx—‰F€Ž®‰„ž—X®)%)#)36®%@-<<)%6® ŽF€®^X‰€F€Q„®
^F‰X®N„xxXN—g„€®X‡žg

®^„„—bgxx®—‰F€Žg•®
„|„€F®
m€—X‰N„€€XN—®F€Q®—Ž®F—®yF®|XŽF®‰Q
® ¤iP›„‰¤gxxX®
ŽF€®o„ŽX®§gQX€gƒa®F—®NbF‰xgX®‰Q® g‚QžŽ—‰©®

xF€ƒm€a®F‰XF®9K® g‰¤mƒX®Kx®¤Q® g‰¤g€X®
nX^^‰X©®‰Xag„ƒFx®KgrX®—Œgx® g‰¤m€X®
Nž‰K®‰F|
Ž®FƒQ®ŽgQX§Fxr®g|
‰„¤X|X€—Ž® „‰IƒaX®N„žƒ—©®
NxF©®Ž—#žƒg„€®
FNg^gN®‰Fgx‰„FQ®a‰IQX®ŽX†
® pž‰ž
F®¤FxxX©®
|Fa€„xgF®F¤X#K€Ž^®‰Fgx§F©®a‰FQX®ŽX
® ‰g¤X‰ŽgQX®
0%)6 -%)<®Žg—X®g|
‰„¤X|X€—Ž® †„‰—®„^®xF®
vFsW¤jX§®F¤X®ŠFgy‰„FQ®a‰FTX®Ž[

® FƒFbXj|®
Ž‰-)%®—žqž€aF®§FŽb® x„Ž®Fƒa\{\‘®
^Fg‰§F©®Q‰ ®F€Q®§Fx€ž—®Q‰!®€„‰—b® i~R¡’•‰©®

xF€€m€a®F‰XF®K®
bFŽX®¬®KFNrK„€X® g‰¤g€X®
FŽ®€XXQXQ®-%)3)6®—Œ^^gN®ŽgaƒFx® x„Ž®F€aXxXŽ®
^gŽ—„ƒX®Kx¤Q®K‰gQaX® €„‰§Fxr®
—‰F^^gN®Žga€Fx®|„QX‰ƒgªF—g„€®
bFŽX®<® €X§
„‰—®KXFNb®
NFqFxN„®‰Q®F€Q®NxF‰r®Ž—®—‰F^^gN®ŽgaƒFxŽ® |XFQ®¤FxxX©® 




MtkU}“® 


£EtU®
dfwwOˆWŽ—®N„ƒ–ˆGOšiƒ`®
((8 (($AD®
˜e™®H®Wƒag~YW‰gƒa® 2A8
$®f®;8.®
—g—F‚®Wƒag~ZW‰m€a® ))-
<?<A.®
Fxx®F|X‰gNF€®FŽ
bFxš® 9)
9<%?8®
|F|N„
g€N® )
@-6
%6B:?®
bF‰Q©®®bF‰
X‰® -3
6)C%%®
QgŽ€W¨® CB
BB6C<®
žŽŽ®NFx®K¢gxQX‰Ž® 99)
)--'$®
a‰g^^g—b®N„|
Fƒ©® /
6-<
<)B$.®a‰g^^g—b®N„|
Fƒ©® 6C%
B<%%$®
‰g¤X‰ŽgQX®N„ƒŽ•‰žN—g„€® 6<%
<%/B%®
|„FxXn®K gyQX‰Ž® <%
C­.(®
a‰g^^g—b®N„|
Fƒ©® -3<
C3)-%®
„‰•gª®Xƒ—X‰
‰gŽXŽ® )
=?2
C@)6-®
†W—X‰Ž„ƒNbFŽX® C6B
%C96-®
XN®N„€Ž—‰žN—g„ƒ® -
%%%%%®
Ng—©®„^®¤gN—„‰¤gxxX® )
-@B
63-B9®
a‰g^^g—b®N„|
Fƒ©® 66
9@%%%®
bgxxN‰XŽ—®N„€—‰FN—gƒa® 3C9
%)C-%®
bgxxN‰WŽœ®N„€—‰FN—g€a® -B)
%%%%%®
bgacyFƒQ®N„ƒŽ—‰žN—g„ƒ® -3C
@3-93®
F|XŽ®N„€Ž—‰žN—g„ƒ® 6C3
C-3®
„bx®žŽF® )
6BC
$7?9<®
ŽbF§€Fƒ® 96
?=,".'®
„bx®žŽF® -
%<C
<4>B1®
ŽXNž‰g—©®
F¤gƒa® )
%<
3<9®

g|F®N„‰
„‰F—g„€® )3<
3<9%@®
bgxxN‰XŽ—®N„€—‰FN—g€a® ®¬®@6
B<<3%®
N„ž€—©®„^®x„Ž®F€aXxXŽ® )
B<6
3)%C-®
‰[©XŽ®N„ƒŽ—‰žN—g„ƒ® 3-9
6-BCC®
Ng—©®„^®ƒX§
„‰—®KXFNb® B3@
-<6@3®
N„ž€—©®„^®‰g¤X‰ŽgQX® ))@
@)@9%®
Elecnor Belco Electric Inc.

..

Item 9 Page 317 of 361

%!- :W.O5f.`6fb@56OGO:f9WRNf
Z\fZ\f\Rf&]=fZ\f Z.O\. .O.f 6c26LfU.f`@OTf
()+)#+!+f

%
# 1.Z6fLAO6f_O56W2WRZZAO:f.\fWR_\7f
(f W.O2=Rf2_2.NRO:.f 9L.\AWROfb6Z\f
!
*#&)(-)f
%
#
=@:=b.df

f.O5f9W.OKf[BO.\W.f5Wf W.O3=RfNAW.:6f \WAfZ\f.Wf2ROZ\W_2\AROf
#(%$",!f

%
#!

f2A\W_Zf.`6fAO\6W2=.O:6 9RO\.O.f 1W_\R2Rf
*)
!

f

%
## \X1_2Rf:.\6b.df1.2K1RO6 @W`AO6f =ALL2W6Z\f2RO\W.2\FP;f
!) f

%
#% :.\6b.df2A\@6Zf.\NZf@NUWR`6N6O\fUWRI62\f LRZf.O:6L6Zf 2R_O\dfR9fLRZf.O:6L6Zf

!

#+*)(f

%#( 9.WW8LLf5WfWA:=\f\_WOfL.O6f.\f`AZ\.f2=GORf U.LNfZUWAO:Zf =ALL2W6Z\f2RO\W.2\@O:f
#)
##+)f

%
#) WR_\6f(fWRZ62W/OZf2W.O6fRU6W/\RWfW6O\.Lf ORWb.LKf Z=@NNA2Kf2SOZ\W_2\AROf

+f

%#* =6WRO5RfZ\=.W1RWf5Wf:.\6b.df@NUf W65RO5Rf16.2=f 6c26LfU.f`AOTf
(#+
%*#!)f

%
#+ L.f2@6O6:.f1Lf`5f
RLdNUA2f\Rf.AW5fWRN6f LRZf.O:6L6Zf 2@\dfR9fLRZf.O:6L6Zf
*+%
-#)f

&#- 1.W=.Nf1Lf`5fZ\W66\f@NUWR`6N6O\Zf LRZf.O:6L6Zf _ZZf2.Lf1_AL56WZf
-% #
#f

%
& bALZROf.f`6=.W`6df5Wf.O5f1WR.5b.df :L6O5.L6f 2A\dfR9f:L6O5.L6f
##+)#!%#f %
&
NRRWU.WKfZ\fbA56OAO:f LRZf.O:6L6Zf :WA99A\=f2RNU.Odf
!%+&+!f %
&% !
%!
(fZ\W86\LA:=\fANUWR`6N6O\f O6bURW\f16.2=f 2@\dfR9fO6bURW\f16.2=f
-*! +%
-f

%&( L.f1W6.f\W.99A2fLA:=\fZdO2=WROAe.\AROf AO:L6bRR5f 2A\dfR9fAO:L6bRR5f
(#*((f

%
&)

f.\fJ6996WZROfZ\W66\f@NUWR`6N6O\Z AO5@Rf WA`6WZA56f2ROZ\W_2\AROf

-!)
%)--f

&&* URW\RL.fZUWH:ZfU.f)f1WA5:6ff\W.CLfANUWR`f CWaDQ6f =ALL2W6Z\f2RO\W.2\AO:f
!#%&-)*f

&&+ AO
9ALLfZ\W86\fLA:=\AO:f.\f9.AWfR.KZf.`6f U.Z.56O.f 2@\dfR9fU.Z.56O.f
# (+f

%
&- WA`6WZA56f5Wf.\f26O\W.Lf.f`6f 2=AORf 2A\dfR9f2=AORf
! %
)&!f

&
( @O9ALLfZ\W66\fLA:=\@O:f.\f6.Z\f2RLRW.5Rf U.Z.56O.f 2A\dfR9fU.Z.56O.f
)--#((#f

&
(

3.NAORfW6.LfU.`6N6O\fW6Z\WAUGO:f J_W_U.f`.LL6df [email protected]>.L\f
-
f
%
(! >.W1RWf1L`5f.O5fL.N16W\fW5f L.f=0W.f Z=.bO.Of
! !!#(%*f
&(# <EL16W\fZ\W66\fANUWR`6N6O\Zf RW.O:6f [email protected]=.L\f
&-)((()f

&
(% 1A2d2L6f\W.OZURW\.\AROf.22R_O\f \6NUL6f2A\df [email protected]=.L\f
+
+)**f

%((
+\=fZ\f6\f.Lf LRZf.O:6L6Zf LRZf.O:6L6Zf6O:AO66WAO:f
#+)##-f

%() 16.Wf`.LL6dfZ\RWNf5W.GOf `A2\RW`ALL6f R5_99df2ROZ\W_2\AROf
*+#%(-#f

&
(* :W86OfW@`6WfW5fbA56OAO:f 2RWRO.f Z_LLd
NALL6Wf2RO\W.2\AO:f
+

-#(f

%(+
&&fZfN.O2=6Z\6Wf.`6f .O.=6ANf 16W:f6L62\WA2f2RWURW.\AROf
) +#f

%(- W.NRO.f6cUW6ZZb.dfZ\fANUWR`6N6O\f U6WWAZf [email protected]=.L\f
!() (#)&(f

%) 5R`6Wf5Wf.O5fb6Z\2LA99f5WW6=.1AM@].^AROf O6bURW\f16.4?f [email protected]=.L\f
*+ (
*+#f

%)
ZA:O.LfNR5@9A2.\AROZf.\fRL5fWA`6WfZ2=SRLf 5RbO6df 2A\dfR9f5RbO6df
+ (f &
)! b2f9@6L5ZfZ\W66\fbA56OAO:fANUWR`6N6O\Z LRZf.O:6L6Zf _ZZf2.Lf1_AL56WZf
! )(f

%)# 9df!
%!
(fU.`6N6O\fW6=.1AL@\.\@ROf RO\.WCSf [email protected]=.L\f
$' f

&
)% Z=W@[email protected]\6Wf U.Z.56O.f 16W:6L62\WA2f2RWURW.\AROf
%) *-
f

%)( 2.WZROfZ\fN.Z\6WfUL.OfANUL6N6O\.\AROf 2.WZROf URb6LLf2ROZ\W_2\RWZf
###)#)!f

%
)) 9AYZ\RO6f1Lf`5f ORWb.LKf 2R_O\dfR9fLRZf.O:6L6Zf
* *)
%!
f

&
)* \_Z\AOfW.O2=fW5f.O5fAW`AO6f1L`5f \_Z\@Of \=6fN.WKf2RNU.Odf
#*-+%*((f &
)+ `6W5_:Rf.f`6fZ\W66\fANUWR`6N6O\Zf 
 2A\dfR9f1_W1.OKf
( +&!((#f
Elecnor Belco Electric Inc.

..

Item 9 Page 318 of 361

-<<D0288M>!?7H!JMH2():2:/M &<?<:!M !88M!9)?2&!:M!B>0!8DM
  


M
 
 8<&EBDM!MG)
MBD?))DM29>?<G)9):DBM ?2!8D<M G!:&*M&<?><?!D2<:M


M

 D?!--2&MB2/:!8BM!DM!:()?B<:M!:(M>?<B>)&DM 8<9!M82:(!M %)?/)8)&D?2&M&<?><?!D2<:M
 M
 
 BD?))DM?)0!%282D!D2<:M &2DJH2()MM ><9<:!M !88M!9)?2&!:M!B>0!8DM


M

 5)--)?B<:M%?2(/)M&<:(E2DMBJBD)9M 2:(2<M 29>)?2!8M2??2/!D2<:M(2BD?2&DM
 

M

 2?G2:)M%8MG(
M>)()BD?2!:M<G)?&?<BB2:/M 2?G2:)M ><H)88M&<:BD?E&D<?BM
 

M


 &0)??JM!G)
M%)DH)):M D0M!:(MD0M B2/:!8M0288M !88M!9)?2&!:M!B>0!8DM

M


D?!--2&MB2/:!8BM!DM!9)D0JBDM!:(M0<<7M G2&D<?G288)M &2DJM<-MG2&D<?G288)M
 
M


B? M&<??2(<?M29>?<G)9):DBM &<?<:!M B)8)&DM)8)&D?2&M
 
M

G!88)JMG2)HM!:(M!(<?))MBD
M 8!M92?!(!M &2DJM<-M8!M92?!(!M




M

B0<?)82:)M(?
M 8<:/M%)!&0M !88M!9)?2&!:M!B>0!8DM
  
M  <?D)/!M?(
MA&<:BD?E&D2<:M &!D0)(?!8M&2DKM /@!:2D)M&<:BD?E&D2<:M

M
 9)D?<82:7M>!?72:/M8<DM ?2!8D<M 7!B!M&<:BD?E&D2<:M
  M %2&J&8)MBJBD)9M/!>M&8<BE?)M 8<:/M%)!&0M B=88J9288)?M&<:D?!&D2:/M
 

M
 !8D<:M>!?7H!JMBD?))DM29>?<G)9):DBM 2?G2:)M "88M!9)?2&!:M!B>0!8DM
 M
  8!E?)8MBD
M%)!ED2-2&!D2<:M
/90M /8):(!8*M !88M!9)?2&!:M!B>0!8DM

M
 !B:))()(M
MD?!--2&MB2/:!8M 8<BM!:/)8)BM &<E:DJM<-M8<BM!:/)8)BM
 M

&?9&)(M+I>!:B2<:M &<?<:!M %)?/)8)&D?2&M&<?><?!D2<:M
 

M
>8!::2:/M!@)!MM/M%!B2:M 2?G2:)M 7)&M):/2:))?2:/M


M

 9!2:MBD
M8!7)MBD
M!:(M2:(2!:!><82BM!G)
M 0E:D2:/D<:M%)!&1M !88M!9)?2&!:M!B>0!8DM


M
 02/0H!JMB!.)DJM29>?<G)9):DM>?</@!9M B<ED0 /!D)M &2DJM<-MB<ED0M/!D)M


M
  H2():M
M9<4!G)M(?MD<MBD<((!?(MH)88BM?(
M G2&D<?G288)M !9)BM&<:BD?E&D2<:M2:&
M


M

  >8!::2:/M!?,#MM)!BD-<<DM%!B3;M 2?G2:)M 7)&M):/2:))?2:/M
 

M
   2?G2:)M%8G(M>0!B)MM 2?G2:)M 0288&?)BDM&<:D?!&D2:/M
 M
  &?):B0!HM%8G(
MDBMBJ:&0?<:2L!D2<:M 8<BM!:/)8)BM &<E:DJM<-M8<BM!:/)8)BM
 
M
  (>H-8))DM9!:!/)9):DM>!?72:/M8<DM C!:M%)?:!?(2:<M !88M!9)@2&!:M!B>0!8DM
 
M
  0<9)8!:(M9(>M82:)MMBD!/)MM C!:M%)?:!?(2:<M !8!%%!B2M
 

M

B<:JMB%M<G)?8!:(MBD@))DM29>?<G)9):DCM &E8G)?M&2DJM &
H
(?2G)?




M

-2?)BD<:)M%8MG(
M%?2(/)MH2():2:/M B<ED0 /!D)M ?)J)BM&<:BD?E&D2<:M
 M
  D?!--2&MB2/:!8M2:-?!BD?E'DF?)ME>/?!()BM (2!9<:(M%!?M &2DJM<-M(2!9<:(M%!?M
   M
 829<:2D)M!G)M>!G)9):DM?)0!%282D!D2<:M 6E?E>!MG!88)JM !88M!9)?2&!:M!B>0!8DM
 M
 -)?:H<<(M!MG)
MM%E882BM?(
MDBM29>?<G)9):DM 8J:H<<(M &2DJM<-M8J:H<<(M

M

 9!/:<82!MBDM!:(M%<8B!M!G)
M2:D
MH2():2:/M H)BD92:BD)?M G2(<MB$!?L2&0M
 M
 &<:G):D2<:M&):D)?M>)()BD?2!:M%?2(/)M 8<:/M%)!&0M ><H)88M&<:BD?E&D<?BM
 

M

 ?2G)?B2()M(?
M:)!?ML<<M%?2(/)M 8<BM!:/)8)BM <?D2LM):D)?>?2B)BM2:&
M


M

 -2?)BD<:)M%8MG(
M
&):D?!8M!MG)
/?!0!9M!MG)
M 8<BM!:/)8)BM !88M!9)?2&!:M!B>0!8DM


M
 D)9><?!?JMG(BM!DMJ:)LM!:(M?!:&0<MG2BD!M D)9)&E8!M 0)?9!:MH)2BB7)?M
 
M

%2&J&8)M-!&282D2)BM!:(M&2DJH2()M%27)H!JM /8):(!8)M !88M!9)?2&!:M!B>0!8DM
 M
Elecnor Belco Electric Inc.

..

Item 9 Page 319 of 361


 -AAI12;;W$;WN(W-FA=WFAH)=)"(WIAWH1"=FA&:W ;AHW">/*;)HW &AL>ISWA-W;AHW">/);)HW
 
!
W


 F3(/)WN";;*SW"IW="/>)IWH2/>"<4U"I2A>W 2FN3>)W 1)F3I"/)W-3);(HW;;&W



 W


! IF"--2&WH2/>";W;)-IWILF>WC1"H4?0WWLC/F"()W &L;N*FW&2ISW &2ISWA-W&L;WN)FW&2ISW
 

!W


 IF#-3&WH2/>";WLC/F"()HW"IWN"F3ALHW;A&W (AP>)SW &3ISWA-W(AP>)SW
!W 

 >)2/1$AF1AA(W;2/1I2>/W-AFW)>1">&)(WH"-)ISW H">IW"W=A>3&"W &2ISWA-WH">IW"W=A>2&"W
W


 =&/"PW"N*W">(W"F=HIFA>/W"WN)WIHW2>HIW";;W 2FN3>*W &2ISWA-W3FN2>)W


!W


 IMHI2>WHIW">(W;2>&A;>W"WN*W AF">/)W ";;W"=)F2&">W"HC1";IW
 W 


";IA>WC"F:P"S
P)HIW&AF)WI)&1W 2FN3>*W O*FI3&";W&A>HIFL&I2B@W3>&W
 !W


CAFIA;"WC"F:P"SW2=CFAN)=)>IHW ;":*W-AF)HIW :"H"W&A>HIFL&I2A>W
!!W 


C)(*HIF2">WHIF))IW2=CFAN)=)>IHW ;S>PAA(W ";;W"=)F2&">W"HC1";IW
 W


 $);;-;AP*FW$;N(W"IW2=C)F2";W12/1P"SW (AP>*SW H1"P>">W

 ! W

 WI1WHIF))IW2=CFAN)=*>IHW MC;">(W ";;W"=)F2&">W"HC1";IW
 !

 W


! IHW"IWH)F-"HW&;M$W">(WF">&1AW&AFA>"W &AFA>"W '2ISWA-W&AFA>"W   
W


 &"FHA>WHIW">(W"N";A>W$;N(W5>J*FH)&I2A>W &"FHA>W ";;W"=)F2&">W"HC1";IW
 
W

 >2HEL";;2WF(W"IW-2FHIWHIW N3&IAFN2;;)W &2ISWA-WN2&IAFN2;;)W
!
W


 =2HH3A>P2>)N3;;*WIF"--2&WH2/>";W 8LFLC"WN";;)SW &2ISWA-W8LFLC"WN";;)SW ! W 

 IF".-2&WH2/>";W2>HI";;W"IW&"F>+;7">WHIW F">&1AW&L&"=A>/"W &2ISWA-WF">&1AW&L&"=A>/"W ! !W



P2;(A="FWHEM"F,W P2;(A="FW CF2=LHW&A>IF"&I3>/W/FAMCW  W



:"3H)FW&13>AW &13>AW ";;W"=)F2&">W"HC1";IW 


W



=A8"N) I=W $"FHIAPW C;"I3>M=WH&"--A;(2>/W


!W


 IH "I AF">/) /FAN) ">( &A;AF"(AW C"H"()>"W &5KSWA-WC"H"()>"W
!
 W


 F)C;"&)WHIA;)>WP2G)W"IWP";>LIWHIF))IW F2";IAW N"@'*W&AFCAF"I2A>W
  W

! IG".-2&WH2/>";HW"IWHL=>)FW"N)W">(W

I1WHIW *"HIN";+W &2ISWA-W)"HIN";*W  !!
W


 IF"--2&WH3/>";HW"IW"FI)H2"W">(W)W2>(LHIFSW ;"W=2F"("W &2ISWA-W;"W=2F"("W
!! !
W


 -2$)FWACI2&W>)IPAF:W)RC">H2A>W *;WH)/M>(AW &2ISWA-W);WH)/L>(AW


W

 C)()HIF2">W&FAHHP";:W2=CFAN)=)>IW &L("1SW &2ISWA-W&M("1SW
 !!W

 $"H)W;2>)W">(W
I1WHI/F))>HCAIW&AFF2(AFHW 12/1;">(W &2ISWA-W12/1;">(W
  W



$F2HIA;WHIF))IW &AHI"W=)H"W HL;;S
=2;;*FW&A>IF"&I2>/W
WVW
  W



I1WHIW">(WA&-"W-2F)WHI"I2A>W 2FN3>*W F9 >A$;)W

!W



1)F2I"/+WC"F:W F)(;">(HW )$HW

 
W


 -;AF*>&*W"N)W ;AHW">/);)HW &AL>ISWA-W;AHW">/);)HW
  W


 IHW$"II)FSW$"&:

LDW"IWW;A&"I2A>HW (2"=A>(W$"FW &2ISWA-W(2"=A>(W$"FW
!

W


! 12/1W()H)FIW/"I*Q"TWP)HIWH2I)WPAF:W 1)HC)F2"W ;S;*WC"F:HW9FW&A>HIFM&I2A>W    W



 &2IFMHW">(WF"=A>"W/F"()W&FAHH2>/W &AN3>"W HM;;S=2;;)FW&A>IF"&I2>/W



W



 "WHIW"IW
I1WHIWIG"--2&WH2/>";W C*FF2HW &3ISWA-WC)FF3HW
! W 


 %6:*WI)&1>A;A/SW()=A>HIF"I3A>W H">IW"W=A>2&"W &2ISWA-WH">I"W=A>3&"W
 ! !W



 $*N+F;SW&)>I)FWF)>AN"WI2AW>HW ;AHW">/);*HW $)F/);)&IF3&W&AFCAF"I2A>W ! 
W




AF&1"F(W12;;HWC"WW 2FN3>)W ";;W"=)F2&">W"HC1";IW 



W
Elecnor Belco Electric Inc.

..

Item 9 Page 320 of 361
!%
!%& 38QSN81S_$_0.NN.H1._ 8NY8H4_ .BB_.G4N81.I_.QM7.BS_ ! !!&-!)_ !%
!%) SN.5581_Q86H.B_Y3Q_.S_!&_BL1.S8LHQ_ N.H17L_1W1.GLH6/_ 18S\_L5_N.H17L_1W1.GLH6/_ !&*%  _ !%
!%* 8GM4N8.B_7867Z.\_SN.5581_Q86H.E_ 3LZH4\_ 18S\_L5_3LZH4\_ %- $*%**_ !%
!%, SN.5581_Q86H.B_8H5N.QSNW1SWN4_WM6N.34Q_ 38.GLH3_0.N_ 18S\_L5_38.GLJ3_0.N_ %,-*)- _ !%
!%- 4W1B83_.Y4_4G4N64H1\_N4M.8NQ_ WMB.H3_ /BB_.G4N81.H_.QM7.CT_ ) **& _ !%
!& SN.5581_LM4N.S8LH_1LGGWH81.S8LH_WM6N.34_ MLGLH._ 18S\_L5_MLGLH._ -%*! * $_ !%
!&! 5\_# !)
!*_SP5581_Q86H.B_N47.08B8S.S8LH_ H4ZMLNS_04.17_ 18S\_L5_H4ZMLNS_04.17_ )) ,!*!)_ !
% !&# QSN44S_8GMN_LH_G8QQ8LH_3N_/I3_M.38BB._QS_ Q.H_6.0N84B_ .BB_.G4N81.H_.QM7.BS_ &**),, _ !% !&$ .BLH3N._0BY3_ B._G8N.3._ 18S\_L5_B._G8N.3._ !-!!% ##_ !% !&% Z.S4N_Z.N47LWQ4
_M.Y8H6_MNL?41S_ Y81SLNY8BB4_ .BB_.G4N81.H_.QM7.BS_ #$*,, _ !% !&& Y.H_0WN4H_Z834H8I6_ N8Y4NQ834_ .BB_.G4N81.H_.QM7.BS_ **$* !-%_ !%
!&) GL554SS_3N_4[S4HQ8LH_0N8364_ SWQS=H_ XRR_1.B_0X9D34NQ_ $,%!,&)!_ !%
!&* N4BL1.S4_4[8QS8H6_QSN44S_B867S_ M.Q.34H._ MN_1LHQSNX2V<LI_ %# )-&!_ !%
!&- SQ_8GMNLY4G4HSQ_LI_Q.HS_._GLH81._0B_Y3_ Z4QS_7LBB\ZLL3_ QWBB\ G8BB4N_1LISN.1S8H6_ )%##,&,$_
!%
!) B._G4Q._.H3_.G4S7\QS_NL.3Z.\_N47.0_ Y81SLNY8BB4_ 1._N.QGWQQ4H !# ,  _ !%
!)! # !*_SN.5581_Q86I.B_GL3_.S_!#_8HS4NQ41S8LHQ_ B\HZLL3_ 18S\_L5_B\HZLL3_ !)#!$)##*_ !% !)# 3.Y83_._0NLZI_G833B4_Q17LLB_ Z8B3LG.N_ 77_64H4N.B_1LHSP1S8H6_ #*) )- _ !%
!)$ L14.H_Y84Z_0B_Y3_N47.08B8S.S8LH_ 6B4H3.B4_ 4[14B_M.Y8H6_ &*-% %**_ !% !)% 0.Q4_B8H4_NL.3_ N.H17L_1W1.GLH6._ .BB_.G4N=1.H_.QM7.CS_ $& ,  _!% !)& 4BQZLNS7_QS_.H3_.B4QQ.H3NL_0BY3_ GLN4HL_Y.BB4\_ L3W55\_1LHQSNW1S8LH_ # #  _ !%
!)) SN.5581_Q86H.B_Q.54S\_8GMNLY_
.G.N_N3_ B._MW4HS4_ 18S\_L5_B._MW4HS4_ ,%-_:_ $$,_!% !)* SLZH4_._Y4 _.H3_N8Y4NQ834_3N_SQ_ MLGLI._ 18S\_L5_MLGLH._ !#&-,*, _ !%
!), M.Y4G4HS_N47.08B8S.S8LH_
G.N6.N8S._N3_ S4G41WB._ .BB_.G4N81.H_.QM7.BS_ !!,  _!% !)- 4B_SLNL_SQ_Q\I17NLH8^.S8LJ_ E.6WH._ZLL3Q_ 18S\_L5_B.6WH._ZLL3Q_ $&%&  _ !% !* GLWBSLI_M.NAZ.\_N468LH.F_SQ_Q\H17NLH_ C.6WH._ZLL3Q_ 18S\_L5_B.6WH._ZLL3Q_ #*!! !&%_ !%
!*! 5LLS78BB_0B_Y3_.H3_3.B_SLI_._Y4_SQ_=HQS_.BF_ .^WQ._ 18S\_L5_.^WQ._ $&$,&  _ !% !*# LN17.N3_78BB_HSQ_0.Q8H_ 8NY8H4_ @41_4H68H44N8H6_ #&!,*&**_ !% !*$ @.^.H_
Z.BHXS_SP5581_Q86H.B_8GMNLY_ 8NY8I4_ 18S\_L5_8NY8H4_ $-&$),#%_!% !*% [email protected]._.H3_Y8BB.64_Z4QS_3N_ N8Y4NQ834_ .BB_.G4N81.H_.QM7.BS_ #*-$%*$#_ !%
!*& 1N4.I_BWS74N.H_7867_Q17LLB_ 8NY>I4_ .BB_.G4N81.H_.QM7.BS_ #%& _!-#!,_
!%
!*) 0.@4N_._Y4_.H3_)S7_QS_ LHS.N8L_ 18S\_L5_LIS_.N8L_ )$$!% %$_ !%
!** Q0%--))_58N4QSLH4__78B3N4S7_
QS.N0W1@Q_ QLWS7 6.S4_ MN_1LHQSNW1S8LK_ $!!*&#!_
!%
!*, S4GM
_Y3Q_.S_N43_78BB_._Y4_ 8NY8H4_ Q 4 _M8M4_B8H4_1LHQSOX2V;LH_ &#,*% _ !%
!*- 5.QSMN@_Q4HQLN_Q\QS4G_ BLQ_.H64B4Q_ ZLNB3Q4HQ8H6_ !##*# #_ !%
!, N.GQ4\_QS_SN.5581_Q86I.BQ_ 0.HH8H6_ 18S\_L5_0.HH=H6_ %&#-*-& _ !%
!,! QN)#_.H3_B4.N_._Y4_SN.5581_Q86H.B_ UZ4HS\H8I4_M.BGQ_ 18S\_L5_SZ4HS\J8H4_M.BGQ_ &&! , &&_ !%
!,# BLQ_M.SNLI4Q_M.N@Z.\_NL.3Z.]_;GMNLY
_ G8QQ8LI_Y84?L_ N? IL0B4_ !$ '
(+"-)_
!%
!,$ 4S7.H.1_N3_.H3_GWNN84S._N3_ M4NN8Q_ 18S\_L5_M4NN8Q_ #)-#)% _ Elecnor Belco Electric Inc.

..

Item 9 Page 321 of 361
"+
"2- ega>>gxRFCEgxFWeg5RR5gF[Wx[Wxeg>o5agxegx e5Wgx5xU[WF:5x :Fgrx[Axe5Wgx5xU[WF:5x
#.-44- x "+
"2. EorxGuux5gx:Rk9x<ax FW<F5Wxo>RRex :Fgrx[AxFW<F5Wxo>RRex
'))40"-'x "+
"22 $
'" xR[CFegF:ex:>Wg>axFFFx[AAeFg>xFU_a[m aF5Rg[x EFRR:a>fjx:[Wga5:gFWCx
-4 )'.'2x "+
"24 :5U_ke FU_a[m>U>Wge
_E5e>v9x e5Wx9>aW5a<WF[x a[5<o5rx?YCFW>>aFWCx
#4'0'- x "+
"4 ga5AAF:xeFCW5Rx[WxU[N5m>x<ax5W<x>5egxga5FRx mF:g[amFRR>x :Fgrx[AxmF:g[amFRR>x
+"00)2) x "+
"4" 5g_x:r:R>xFFx [Wg5aF[x a[5<o5rx>WCFW>>aFWDx
.+-.4 x "+
"4' :[Wga5:gx<'x[AA
eFg>xega@@gxFU_a[m>U>Wgex FamFW>x 5RRx5U>aF:5Wx5e_E5Rgx
42))'+-0x "+
"4) Q5aU5x5kg[V\jKn>xegxFU_a[m>U>Wgex FamFW>x :5RFA[aWF5x:[UU>a:F5Rx
-) 3,!%4x "+
"4+ A[[gEFRRx9Rm<x5W<x_5RUx<axga5ABH:xeFCW5Rex 5tke5x :Fgrx[Ax6tke5x
'-.#1+-"x "+
"4- U[AA>ggx<ax5W<xR>C5:rxa<x gkegFWx ekQkgx:[Wegak:gF[Wx
#2-) )'' x "+
"4. A[eg>axc<xeF<>x_5W>RxFU_a[m>U>Wgex W[ao5RQx eE5oW5Wx
.xIx-2xIx -'x "+
"40 ga5AAF:xeFCW5Rex5gxR5xgFN>a5x9Rm<xx0+gExegx R[ex5WC>R>ex 9lFR<Ca[k_x
"02-2. 2x "+
"42 g>U_xm]ex5gx_>aaFex9Rm<x6X=xNAQx<ax U[a>W[xm5RR>sx E>aU5Wxo>FeeQ>ax
")+" +02x "+
"44 gexU[<5gx:R5aQxegx5W<x9[qxe_aFWCexa<x U[a>W[xm5RR>sx p@aU>aexUkSiKA5UFRrx:[a`x
''.)2- 2x "+
' 5ag>aF5Rxega>>gxa>ekaA5:FWCx
5R[W<b5x9Rm<x _5a5U[kWgx 5RRx5U>aJ;5Wx5e_E5Rgx
'.0'  x "+
' # eg5g>x:[RR>C>x9Rm<xCa5<>xe>_5b5gF[Wx AkRR>ag[Wx eg>FWrx>R>:gaF:x
))0)-4+x "+
' ' U5<Fe[Wx5m>x8_5agU>Wgex UkaaF>g5x fh@JYsx>R>:gaF:x
)--)4"4x "+
' ) FZg>ae>:gF[WxFU_a[m>U>Wgex5gx_:Ex R[UFg5x CaFAAFgEx:[U_5Wrx
-42'0#"0x "+
' + Aa>>o5rx5W<x5ag>aF5RxeFCW5RxerW:Ex a5W:E[x:k:5U[WC5x :Fgrx[Axa5W:E[x:k:5U[WD7x
.+4"2-4'x "+
' - _>WWerRm5WF5x5xm>x5W<x'.gExegx e5Wgx5xU[WF:5x eg>FWrx>R>:gaF:x
4+'-')2x "+ ' . CFRU5Wxe_aFWCexa<x5W<xeE
04xW9xa5U_x CFRU5Wxe_aFWCex 5RRx5U>aF:5Wx5e_E5Rgx
' 0-0) x"+ ' 0 ar[Wx5W<x5R[W<a5x 9>RRAR[o>ax 5RRx5U>aF:5Wx5e_E5Rgx
0'  x"+ ' 2 e[g[xegx9aF<C>x R[ex5WC>R>ex eg>FWrx>R>:gaF:x
&!-)"'x "+
' 4 o>egAF>R<x :>Wgkarx:Fgrx eg>HWsx>R>:gaF:x
# -)"'x "+
'" 95Q>axegx5_5agU>Wgex :[eg5xU>e5x eg@JWsx>R>:gaJ:x
'" . ')x
"+
'"# :ekR9xUeqxkgFRFgF>exFWAb5egak:gka>xk_Cd<>x R[WCx9>5:Ex :ox<aFm>a
" -  x"+ '"' R[exgb5W:[e>5egx_>Rgx5e[Wxga5AAF:xeFCW5Rex FamFW>x k:xFamLW>x
)'44 -)2x "+
'") 5::>eeF9R>x_><>egaF5WxeFCW5Tex 5RFe[xmF>N[x :Fgrx[Ax5RFe[xmF>O^x " '2- x "+
'"+ R[exga5W:[exe>amF:>xa[5<x FamFW>x k:xFamLW>x
'--)'. "x "+ '"- :[Wgb5:gx<x"x[W
eFg>xega>>gxFU_a[m>U>Wgex FamFW>x EFRR:a>egx:[Wga5:hMYCx
'))x-2  )x "+ '". m5WxWkrexAFa>xegx5xgF[WxW[x)4x R[ex5WC>R>ex A[a<x>:xFW:x
')'4#2'0x "+
'"0 k:R5xeg>5UxRFW>x R[ex5WC>R>ex Qe>xkW<>aCa[kW<xkgFRFgF>fx
.2.'++x "+
'"2 Qa5>U>axNkW:gF[Wx Qc5>U>axPkW:gF[Wx Q>FoFgx
'%(* '4") x "+
'"4 e5A>xa[kg>exg[xe:E[[Rx:r:R>x" x e[kgE C5g>x :Fgrx[Axe[kgExD5h@x
+-/'-2 '-x
"+
'' FU_>aF5RxEFCEo5rxFU_a[m>U>Wgex FWCR>o[[<x eE5oW5Wx "'- 20-.0x "+
''" ega>>gxRFCEgxU[<>aWFt5gF[Wx e5Wgx5xU[WF:5x :Fgrx[Axe5Wgx5xU[WF:5x "--").'2+x "+ ''' gx5R5aF5xga5AAF:xeFCW5Rex 9ka95WQx U::[aUF:Qx:[Wegak:gF[Wx ')"4 ' x "+ '') e9+0.40xe5Wg5x5WFg5xC5am>rxRRx >RxU[Wiwx _ax:[Wegak:gF[Wx
44 + x
Elecnor Belco Electric Inc.

..

Item 9 Page 322 of 361


.$CF?@8SC*<C>@SCQCF*;SN$@)9>NSCF$F3><S 9></S&*$'1S N>@9)C*<C3</S
!"! S

 1>&$@FS4<F*@;>)$9S.$'493FQS&<C.S 9>CS$</*9*CS /@$<3F*S'><CF@I'F3><S
 

S

 @*C3)*<F4$9SCF@**FS93/1F4</SI?/@$)*S )>N<*QS '3FQS>.S)>N<*QS
!

S


! !S*
S*)3</*@S$M*S&L49)4</S7S C$<F$ $<$S M$93<S'>@?>@$F4><S
 ""
S

" *I'93)S$<)S&4'8;>@*S'13<>S '13<>S 1399'@*CFS'><F@$'F4</S
S 
# N$C14</F><S$M*
SF@$'FS

!S>..C4F*S ;I@@3*F$S 1399'@*CFS'><F@$'F3</S



S

 9>C C*B$<>C 3<.@$CF@I'FI@* 4;?@>M*;*<FCS '13<>S1399CS 9>CS$</*9*CS*</3<**@4<0S

###
#S



 !
NS?*@@4CSS*9)*@S&>>CF*@S?K;?SCF$F4><S ;>@*<>SM$99*QS @C1S'><CF@I'F3><SC*@M5(+DS
# S


 ?*F*@CS'$<Q><S'1$<<*9S FICF3<S 8*'S*</3<**@3</S



"
!S



"S?$M*;*<FS@*1$&493F$F3><S 'I9M*@S'3FQS $99S$;*@3'$<S$C?1$9GS
##"S

'3F@ICS$SM*
S$<)S'$C$S/@$<)*S$M*8<>PS$SM*S .><F$<$S C'S.><FS$<$S)*M*9>?;*<FS'>S

"
S

C$<)S'$<Q><S?$
S.@**S@3/1FSFJA=S 4@M3<*S 1399'@*CFS'>=H@$'F4</S




S

! @*<$4CC$<'*S?$@8N$QS%R$9$S)@S3;?@>MS @3$9F>S $99S$;*@3'$<S$C?1$9FS
"!

! S


" 9$8*SCF
 S>..S@$;?SSCF@**FS3;?@>M*;*<FCS 9$8*S*9C3<>@*S @7S<>&9*S'>;?$<QS
#

#S



#
F1SCF@**FSF'?S CF>@;S)@$3<S @$<'1>S'I'$;></$S ;I@@3*F$S)*M*9>?;*<FS'>S
!!" #"S



 ;3CC3><SCFS4;?@>M*;*<FS C>IF1S?$C$)*<$S $;*@3'$<S$C?1$9FSC>KF2S
!! "S


 F@$..3'SC3/<$9SI?/@$)*CS ?1$C*S333S )4$;><)S&$@S '3FQS>.S)3$;><)S&$@S

#!
S


 I?F>N<SCI@.$'*S9>FS N14FF3*@S *O'*9S?$M3</S


S



" SC3F*S3;?@>M*;*<FCS 9>CS$</*9*CS C1$N<$<S



#
S



>@$</*S'>I<FQS/@*$FS?$@8S 3@M3<*S CI8IFS'><CF@I'F3><S
 
"

S

,PF*@3>@S9*)S94/1FS'><M*@C3><S$FSM$@3>ICS '$@C><S '3FQS>.S'$@C><S


S



CF@**FS@*CI@.$'3</S?@>/@$;S F*;?9*S'3FQS $99S$;*@3'$<S$C?1$9FS
!S


! $@F*@3$9SC?**)S;$<$/*;-<FS?@>7*'FS ?$C$)*<$S '4FQS>.S?$C$)*<$S
#!# 
S

" /*<*S$IF@QSN$QS $<$1*4;S /@4..4F1S'>;?$<QS
!!

S


# *9SC*/I<)>S&9SM)S;>&393FQS3;?@>M*;*<FS 1$NF1>@<*S C1$N<$<S
 "

#S


 ;I@@3*F$S'>;;><CS ;I@@3*F$S ?@4;ICS'><F@$'F3</S/@>I?S
 
#
S

 N$@<*@S$SM*
SSCI<.9>N*@SFCS;>)3.3'$F3>=S C$<F$ $<$S '3FQS>.SC$<FS$S$<$S
!! S

 ?S$@8?9$'*S333S ><F$@3>S $99S$;*@3'$<S$C?1$9FS


S

;*)3$S)3CF@3'FSC3/<$9S?@>7*'FS ?1$C*S 3S &I@&$<8S '3FQS>.S&I@&$<8S
 #  S


;*@3)3$<S
&$@F><S@)SCF@**FS3;?@>M*;*<FES @3M*@C3)*S $99S$;*@3'$<S$C?1$9FS
! 


S

 &<C.S>M*@1*$)S&@3)/*SF>S9>FS
C$<S&*@<$@)3<>S $;*CS'><CF@I'F3><S3<' S
!
 

!S


 C$<S&*@<$@)3<>SCF@**FS@*1$&493F$F3><S ;><F'9$4@S $9:S%;*@4'$<S$C?1$9FS
# S


" 1$@9*QS8<>OS&9SM)S ?*@@3CS $99S$;*@4'$<S$C?1$9FS
#!#

!!S

# CF@**FSF@$..3'SC3/<$9S$<)S9$<)C'$?*S 13/19$<)S '3FQS>.S14/19$<)S
# !

S

  .*@<S$SM*S$<)S*I'$9Q?FICS$SM*S '13<>S 9*<<$@S1>;*CS

S "
S


?$M*;*<FS@*1$&393F$F3><S?@>/@$;S F*;*'I9%S @7S<>&9*S'>;?$<QS
 
!S


C& 6S;$3<F*<$<'*S$<)SF@$..3'S4;?@>M*;*<FCS @3M*@C3)*S *&CS
"
!
#S

  /@**<SM$99*QS&$'8&><*S/@$)3</S ?*@@3CS /@**<SM$99*QS@*'>M*@QS

#
S
Elecnor Belco Electric Inc.

..

Item 9 Page 323 of 361
&/
%*11 XZVa>9a><oX>ZQG]]Gh>oM>BaoaeZSoXE6]GSCo GZhGS>o :HdkoVBoGZhGS>o 4*%%,104o &/
%*12 BM>a9E>ZoX6ZLi6loGSa>Z9VSS>9aoGQXZVmo M6 Q>]6o 9GaloVBoM6oQ>]6o 0%*&,15,o &/
%*14 B6]aX6ZLo MV]o6SD?N@^o iVZM<]>S]GSCo &415&14o
&/
%*15 ]a>h>S]VSoX6ZLo 96Z]VSo 9GaloVBo96Z]VSo 0402/%%o &/%*2&
6o]ao6aoGZhGS>o8Mh<o GZhGS>o EGMM9Z>]ao9VTaZ69aGSCo *2/5*25%o &/
%*2* ^7ToKV]>o9Z>>Loi6a>ZoZ>9M6Q6aGVSoXM6Sao iEGaaG>Zo ]6Lo9VS]aZe9aGVSoMM9o 500/*%%o &/%*2, <GT6Eo]EVZ>o<ZGh>o 96aE><Z6Mo9Galo 6MMo6Q>ZI96So6]XE6Mao &&1,& 01o &/%*2/ _6So<GQ6]o6om>oX6om>Q>SaoZ>E68GMGa6aGVSo ]6So<GQ6]o 6MMo6Q>ZG96So6]XE6Mao /02%%%%o &/
%*20 VMlQXG6<oZ<$B>MGX>oZ<oaZ6BBG9o]GCS6Mo QG]]GVSohG>KVo 9GaloVBoQG]]GVSohG>KVo ,02&%%%%o &/
%*21 iVZM<oVGMoE>6aoaZ69>o <L>o MV]o6SC>M>]o h6MGSo9VZXV\aGVSo 21%,*%o &/
%*22 X6h>Q>TaoQ6S6C>Q>SaoXZVCZ6Qo EGCEM6S<o 6MMo6Q>ZG96So6]XE6Mao &04%/%%%o &/
%*24 6Za>ZG6Mo]aZ>>aoZ>]fZB69GSCo X6Z6QVfTao 6MMo6Q>ZG96So6]XE6Mao *&11%%%%o&/ %*25 6aao9VS<eGa]
QVBB>aaooM>C69lo ae]aGSo 6aao &5/04%%%o
&/%*4% XVZaVM6oX6ZLi6loVBB
]Ga>o]aZ>>aoGRY[Vmo GZhGS>o ZKoSV8M>o9VQX6Slo *2/251%0o&/%*4& Blo*%&2 *%&4o]aZ>>aMGCEaoGQXZVh>Q>Sao S>iXVZao8>69Fo 9GaloVBoS>iXVZao8>69Eo 0',,%/%,o &/
%*4* &
*&0o6ao]9VaaoZ<oGSa>Z9E6SC>oGQXZVh>Q>Sa] Q>SGB>>o CeloBo6aLGS]VSo *--5/4,,,o &/
%*4, MGQVSGa>o6m>o6ao(&0oGSa>Z9E6SC>oGQXZVm >6]ah6MAo CfloBo6aLGS]VSo *o454o%%///o &/
%*4/ XE6]>o&o]MeZZlo]>6Mo 6Za>ZG6MoZ>E68o QVZ>SVoh6MM>ko 6MMo6Q>ZG96So6]XE6Mao &%22%%%%o &/%*40 8GL>oS>aiVZLoMGSL6C>]oaVo>jXVoMGS>oZ6GOo ]6Sao6oQVSG96o 9GaloVBo]6Sao6oQVSG96o /2,04&/10o &/
%*41 6<mo6T9><oaZ6BBG9oQ6S6C>Q>SaoXE6]>o0o ]6Sa6oQVSG96o 9GaloVBo]6Sao6oQVSG96o *%4/11014o &/
%*42 SVZaEo]XZGSCo]ao8ZG<C>oXE6]>o*o MV]o6SC>MA]o fSGa><o>SCGT>>ZGSCo /0& %*42,o&/%*44 aZ6S]B>Zoa68M>oZ>XM69>Q>Sao 9VMaVSo DZ6SGa>o9VS]aZe9aGVSo 0**14%&2o &/
%*45 Z>XM69>oVM<oE>6aoaZ69>oiGZ>o ]VeaE C6a>o iVZM<oVGMo9VZXVZ6aGVSo &2221%o &/
%*5% 6<6o9eZ8oZ6QXoGQXZVh>Q>Ta]o E>ZQV]6o8>69Eo >8]o 4%o//%15o &/
%*5& IT<G6So96SlVSo<Zo X6MQo]XZJTC]o 9GaloVBoX6MQo]XZGSC]o /o5,%o*1**1o &/
%*5* Q>6<Vi]o6Z8VZ>aeQo BVSa6U6o ]fMMl
QGMM>Zo9VSaZ69aGSCo &2/
01%%%o
&/%*5/ <e6Za>oZ<
o 6Z96<G6o 9GaloVBo6Z96<G6o 5*)#*,1,,o
&/
%*50 Vm>ZEGMMo<Zo
M6o8Z>6o6om>obWo]M6g]VSo6oh>o MV]o6SC>M>]o CZGBBGaEo9VQX6Slo *41 o&&4&%o
&/
%*51 HS<G6So6m>o6S<oQ6ZLE6Qo]cocZ6BBG9o]GCS6Mo X>ZZG]o EGMM9Z>]ao9VTaZ69aGSCo &50 *1%10o
&/
%*52 9GaZe]o6oh>o]aZ>>aoGQXZVh>Q>Sa]o BVSa6S6o 6MMo6Q>ZG96Uo6]XE6Mao 0,o1%1 04o&/%*54 6om>SG<6ohG]a6oE>ZQV]6o ]6So9M>Q>Sa>o 6MMo6Q>ZH;6To6]XE6Mao *1o/24%%o &/
%*55 Z>ZVfa>oVBoaZ6BBG9o]GCS6Mo9VS<fGao 9eMh>Zo9Galo 8>ZCo>M>9aZG9o9VZXVZ6aGVSo 0 %*&5%o
&/
%,%% XZ6GZG>o6om>oGQXZVh>Q>SaoXZVK>9ao
XE6]>o&o E6iaEVZS>o 9GaloVBoE6iaEVZS>o ,o/,%o4*,,/o
&/%,%& &o]ao]aZ>>ao6S<oE>Z8>Zao6om>oaZ6BBG9o]GCS6M]o MV]o6SC>M>]o 9VfSaloVBoMV]o6SCAPA]o 501!541%5o &/
%,%* mG]ao6o9EGTVoaZ6BBG9o]GCS6M]o X6MQo]XZGSC]o 9GaloVBoX6MQo]XZGSD`o &o%,0o0/,*5o &/
%,%, Z>X6GZo]G9o968M>o6aoM6CeS6o96SlVSo GZhIT>o 6ZGnVS6oXGX>MGS>o 5!0%%%%o &/
%,%/ X6MQo6om>o6S<o96QITVo6om>SSafZ6oa]o =A]>ZaoEVao]XZGSC]o 9GaloVBo<>]>ZaoEVao]XZISC]o /%%!/5+",5o &/
%,%0 */51%oQG9E>M>oZV6<o X>ZZI]o <fL>oZ>6Malo &,/!5.311o &/%,%1 6Z9EG86M<o]Mo6S<oBG8>ZoVXaG9o VSa6ZGVo 9GaloVBoVSao6ZGVo &/1!o24%/%o Elecnor Belco Electric Inc.

..

Item 9 Page 324 of 361
).(-(1 a\7BBJ;q`JCU7OqJU`a7OO7aJXUqqRX<JBJ;7aJXUq CO>V<7O>q ;JamqXBqCO>U<7O>q
+q)6+/-)..q ).(-(4 ZE7UaXSqj>`aq`a\>>aqOJCEaJUCq hJ;aX\hGPQ>q ;JamqXBqhJ;aX\hJOO>q
)//.6.((q ).(-(6 E`JZqJUa>\`>;aJXUqJRZ\Xh>R>Ua`q O7q[eJUa7q ;JamqXBqO7q[eLVaq7q
4+4%+).((q).(-)( BJ:>\qXZaJ;q;XUV>;aJXUq BeOO>\aXUq ;JamqXBqBeOO>\aXUq
6)q/0++1q ).(-)* 0/()qR>O\X`>q7h>q OX`q7UC>O>`q BX\o7q;XU`b\e;aJXUqJU;q
+)q/((((q ).(-)+ EJCEqLUa>U`Jcnq7;cHi7b><q;\X``j7ONq \X`>S>7<q ;JamqXBq\X`>R>7<q
)(6%0+6((q ).(-)- ZX\aXO7q`Z\LUC`qZ70q>U;O8i?q/5q:7`JUq1(7q J\hJU>q 7OOq7R>\L;7Uq7`ZE7Oaq
+)1%/((((q ).(-). ZX\aXO7q`Z\LUC`qZ70q>U;O7i>q/5q:7`LUq1(5q J\hJU>q 7OOq7R>\J;7Uq7`ZE7Oaq
+)/1((((q ).(-)/ 7h>Ue> .4 `a\>>a JRZ\Xh>R>Vaq ;X7;E>OO7q C\7VJa>q;XU`a\f;aJXUq
.+4-0-)6q ).(-)0 ><JUC>\q7h>
q\>CJXV7Oqa`q`mU;E\XVJo7aJXUq J\iHU>q ;JamqXBqJ\hJU>q
)q)-6q-44((q ).(-)1 R>\\JOOq7qh>q7aqXO>7U<>\q7qh>q BXUa7U7q ;HbmqXBqBXVaq7U7q
/46 06(4/q
).(-)4 a\7BBJ;q`JCU7Oq:7aa>\mq:7;NeZq`m`a>Rq <e7\a>q ;JamqXBq<f7\a>q
-(- +44..q
).(-)6 R>]L<J7UqZ7\Nj7mq \Ih>\`J<>q O>jJ`qR7U7C>R>Uaq;X\Z q
1+0 +1)(0q
).(-+( Z><>`a\J7Vq`7B>amqJRZ\Xh>R>Ua`q T8VF8ca7Vq:>7;Eq ;JamqXBqR7UE7qaaq7Uq:>7;Eq
+04 +4)-4q
).(-++ j7ONj7mqOJCEaLVCqJRZ\Xi>R>Vaq =YkW@nq ;JamqXBq<XjU>mq
/0 /-4((q
).(-+- <XeCO7`q`a\>>aqZ7hJVCq >Oq`>CfV<Xq 7OOq7R>\J;7Uq7`ZE7Oaq
00q4((((q ).(-+. `a]>>aqOJCEaq;XU<eJaqJV`a7OO7aJXUq Z7ORq<>`>\aq ;JamqXBqZ7ORq<>`>\aq
4)q0(4((q ).(-+/ ;X\XU7q E7\\J`XUq`bq7U<qR7LUq`aq ;X\XU7q j>\R>\`qRfOqaJB7RJOmq
4 /((((q ).(-+0 7OaXUqZ7\Nj7mq`a\A>aqJRZ\Xh>R>Ua`q J\hJU>q 7OOq7R>\L;7Vq9`ZE7Oaq
4!(((((q ).(-+1"+* \;RfqBJ:>\q hJ;aX\L7qC7\<>U`q ]7U;EXq;f;7RXUC7q ;JamqXBq^7U;EXq;f;7RXUC7q
60q/,,#/4q ).(-+1
++ \;ReqBJ:>\q JUmXq \7V;EXq;f;7RXUC7q ;JamqXBq\7U;EXq;e;7RXUC7q
+0 .24'.0q
).(-+1"+$. \;RfqBJ:>\q hJ;aX\J7qC7\<>V`q<J`a\J:eaJXUq \7U;EXq;e;7RXUC7q ;JamqXBq\7V;EXq;e;7RXVC7q
0/q-01/)q ).(-+1$.$( \;ReqBJ:>\q E7qh>Uq7U<q;Ee\;Eq;XU<fJaq \7U;EXq;e;7RXUC7q ;JamqXBq^7V;EXq;f;7RXUC7q
.)q.4(./q ).(-+1$4 \;RfqBJ:>\q Z\>RJ>\q`jJRq7;7<>Rmq \7U;EXq;e;7RXUC7q ;JamqXBq\7V;EXq;e;7RXUC7q
. )-/64q ).(-+1$6 \;RgqBJ:>\q Zf:OJ;q`7B>amqB7;JOJamq \7U;EXq;e;7RXUC7q ;JamqXBq\7V;EXq;e;7RXUC7q
++( -4-(qpq
).(-+1)( \;ReqBJ:>\q <7mq;\>>NqhJOO7`q`\q7Zaq \7V;EXq;e;7RXUC7q ;JamqXBq^7V;EXq;e;7RXVC7q
))4)14/(q ).(-+1)) \;RfqBJ:>\q ;7<>U;>q`>UJX\qOJhJVCq;>Va>\q \7U;EXq;e;7RXUC7q ;JamqXBq^7U;EXq;e;7RXUC7q
0(q441-+q ).(-+1)+ \;ReqBJ:>\q 7\\XjE>7<q;\A<JaqfUJXVq \7U;EXq;e;7RXUC7q ;JamqXBq^7U;EXq;e;7RXVD7q
-4q-().-q ).(-+1)- \;RfqBJ:>\q 7`ZJ\>q`7OXVq`ae<JXq \7U;EXq;f;7RXUC7q ;JamqXBq\7U;EXq;e;7RXUC7q
++q)/+"(0q ).(-+4 \K7OaXqR>a\XOJUNqZ7\NJUCqOXaq>lZ7U`JXVq \J7OaXq >l;>OqZ7hLUCq
+(- /0610q
).(-+6 ZXLU`>aaJ7qO7U>q:\J<C>q ;7\O`:7<q X\aJoq>Ua>\Z\J`>`qJV; q
-+1%64+((q
).(--( O7q`J>\\7q7h>q\>`f\B7;JUCq \Lh>\`J<>q 7OOq7R>\L;7Uq7`ZE7Oaq
)--%.6(((q ).(--) +()6qZ7h>R>Uaq\>E7:JOJa7aJXUq ;eOh>\q;Jamq 7OOq7R>\L;7Uq7`ZE7Oaq
++0%0(044q ).(--+ ><JUC>\q7h>q\>E7:JOJa7aJXUq EeUaJVCaXUq:>7;Eq 7OOq7R>\L;7Uq7`ZE7Oaq
+401/)1q ).(--- `7Uaq7q;O7\Ja7qh7OO>mq`E>\JBB`q`aq7qaJXUq `7Uaq7q;O7\Ja7q aX\Xq>Ua>\Z\J`>`q
/+41/0(0q ).(--. .aEq`aq>la>U`JXUq :>7eRXUaq C_UJa>q;XU`a\f;aJXVq
)q+4+q/01//q ).(--/ >aE7U7;q\<
qjJ<>ULUCqZ\XM>;aq Z>\\J`q 7O7:7``Jq
).q(((((q).(--0 `a\>>aqOJCEaq;XU<eJaqJV`a7OO7aJXUq \><O7U<`q ;JamqXBq\><O7U<`q
00q161 ((q
).(--3 ;m;O>q/qC\7Uaqa\7BBJ;q`JCV7Oq R7UE7qaaq7Vq:>7;Eq ;JamqXBqR7UE7qbdq7Uq:>7;Eq
.(1 41/&06q
).(--4 RXU\XhJ7q\>U>jq7OqUX\aEq`>;aJXUq RXV\XhJ7q `fOOmRJOO>\q;XUa\7;aJUCq
6.- -).&40q
Elecnor Belco Electric Inc.

..

Item 9 Page 325 of 361
-

**5 CVdsaWVdsFTd=\a=:dFVTsW\VN=:ds WF:Vs\Fk=\7s a=Yg=Qs:VTd_:dV\as &&0s10

s
-

*-
pV\97s7k=s7T<sQVasa=\\7TVas:VgTd\ps:Qg9s :CFTVsCFQQas VTposW7kFTAs 133 

s
-

*-& XGT=ssSFQQs:\==Os :CFTVs A\7psm=ads:VTad\g:dFVTs 3s0



s
-

*-* ?F\=sad7dFVTsTVs0s
QF9\7\ps?F9=\sVWdF;s T=mWV\ds9=7:Cs d=Q7:gs - 311

s
-

*-- CgTdFTAdVTs<\sd\8??F:saFAT7Qas 7\:7<F7s :FdpsV?s7\:7<F7s 2 -s313-s
-

*-0 ;VkFT7s*sd\7@@H;sbIBT7Qas :VlHT7s :Fdpsk=Tdg\=as &30s---s -

*-1 QFSVTFd>s7sk=Tg=s Ng\gW7sk7QQ=ps :FdpsV?sNg\gW7sk7QQ=ps 0*s-&1*s -

*-2 aFAT7QsapT:C\VTFr7dFVTs CgTdFTAdVTsW7\Ps :FdpsV?sCgTdFTAdVTsW7\Ps  *s5&31-s
-

*-3 d\7??F:saFAT7Qs\=C79FQFd7dFVTs&
3 5s T=mWV\ds9=7:Cs :FdpsV?sT=mWV\ds9=7:Cs 32-s02
&3s
-

*-5 FTAQ=mVV<s7k=sFSW\Vk=S=Tdas Q7mT<7Q=s =o:=QsW7kJUBs 0*&s-2-5 s
-

*0 d7\A=dsd&-25sahUa=ds'
'
s QVcs7TA=R=as mCFdFTA
di]U=]s *5*2-

s
-

*0& mFQaCF\=sW7`FTAsQVdsad7QQas ?gQQ=\dVTs C7\<ps7T<sD7]W>]s *



s
-

*0- <=QsS7\s9Qk<s7T<smJQaVTs7sk=sdas W7a7<=T7s 9=\As=Q=:d\J:s &*s 21*-s
-

*01 7S>eDqads7sl=sbe\=>esKSW\Vk=S=Tdas ^7T:EVs;j:7SVUB7s b=Zj=Rs;VUe]7;dV\as &*2s-251-s -

*02 &
5s:FdpmF<=s\V7<m7psFSW\Vk=S=TdsW\VN=:ds Q7P=s?V\=ads 7QQs7S=\F:7Ts7aWC7Qds . !s "4!

0s
-

*03 <VmTdVmTskFQQ7A=sW7\PFTAsQVds AQ=T<V\7s 7QQs7S=\F:7Ts7aWC7Qds  

s
-

*05 SVT\V=sadsd\7??F:saFAT7QsFTd=\:VTT=:ds FT<FVs :FdpsV?sFT<FVs 13513 *5s
-

*1
aSV
\=ga=sV?s=o:=aas7F\?F=Q<sW7k=S=Tds a7Td7sSVTF:7s agQQpSFQQ=\s:VTd\7:dFTAs &2&s&-&1s -

*1 W7\7SVgTds9Qk<s7T<saVS=\a=ds\7T:Cs\<s aVgdC A7d=s :FdpsV?saVgdCsA7d=s &15&0

s
-

*1& dgadFTs\7T:Cs\<s dgadFTs CFQQ:\=ads:VTd\7:dFTAs 0 153
&s
-

*1* S=7<Vmas7\9V\=dgSs ?VTd7T7s agQQpSFQQ=\s:VTd\7:dFTAs 31&1&

s
-

*1- <gT=sW7QSas\V7<smF<=TFTAs Q7s[gFTd7s N7:V9aaVTs=TAFT==\FTAs 2s02&3 s-

*10 k7Ts9g\=Ts9Qsk<sWC7a=sFFFsmF<=TFTAs \Fk=\aF<=s 7QQs7S=\F:7Ts7aWC7Qds 50-s0*3-1s -

*11 7Q=aa7T<\Vs:VSS=\:=s:=Td=\s \Fk=\aF<=s ?gQQS=]s;VTad\g:dFVTs &33 -35

s-

*12 VTd7\FVs\7T:Cs\<s7T<s
7sads VTd7\FVs Q=UU7\sCVS=as 015 13*s
-

*13 Q7mQ=aas\<s7T<sWFA=VTsW7aas\<s SV\=TVsk7QQ=ps CFQQ:\=ads:VTd\7:dFTAs - 00 

s-

*2
AVdC7\<sads7T<s:=Td=\s7k=sd\7??F:saFAT7Qs CgTdFTAdVTs9=7:Cs :FdpsV?sCgTdFTAdVTs9=7:Cs *--5 &&3s
-

*2 k7\FVsgasad\==dsFSW\Vk=S=TdsW\VN=:ds CgTdFTAdVTsW7\Ps agQQpSFQQ=\s:VTd\7:dFTAs *s-



s
-

*2& mCFddF=\s9Qsk<s7T<sC7:F=T<7s\<s Q7sC79\7s =o:=QsW7kFTAs ** s&210&s
-

*2* <VQWCFTsW7\Os :7\aVTs :FdpsV?s:7\aVTs - -&1

s
-

*2- &
2 &
3s:<9Asad\==dsFSW\Vk=S=Tdas \Fk=\aF<=s a=Yg=Qs:VTd_:dV\as 105*05s-

*21 T7T<FT7sFT<gad\F7Qs:=Td=\s SV\=TVsk7QQ=ps <gO=s\=7Qdps 3 &



s
-

*22 m7aCFTAdVTsadsdasFTad7QQ7dFVTas d=S=:gQ7s WgQd=sCVS=s:VSW7TpsQQ:s 50-1**03s -

*23 S7NV\s7\d=\F7QsW7k=S=Tds\=C79FQJd7dJVTs \7T:CVs:g:7SVTA7s 7QQs7S=\F:7Ts7aWC7Qds 

s
303-s
-

*25 ?F\=adVT=s9Qk<sad\==dsFSW\Vk>S>Ufs <VnU=ps 7QQs7S=\F:7Ts7aWC7Qds *5s0 233s
#-

*3
ad\==dsQFACdFTAs?V\sd=\\7skFad7sW7\Pm7ps \7T:CVs:g:7SVTA7s :FdpsV?s\7T:CVs:g:7SVTA7s 3,33

s#-

*3 QVa W7d\VT=a W7\Om7p FSW\Vk=S=Tdas \7T:CVsSFaaFVTskF=NVs agPgds:VTad\g:dFVTs -** 0s
#-

*3& =Q=:d\F:sk=CF:Q=s:C8\AFTAsad7dFVTas a7Ts<FS7as :FdpsV?sa7Ts<FS7as  (s



s
$-
*3* \Fk=\aF<=s<VmTdVmTsS=d\VsQFTPsads7sdMVUs \Lk=\aF<=s \=p=as:VTad\g:dFVTs 0) s+5
%6s
!/
*3- ad\==dsFSW\Vk=S=TdasVTs=7ad=\Ts7sk=s 9=QQs =:s:VTad\g:dFVTs &20&331s Elecnor Belco Electric Inc.

..

Item 9 Page 326 of 361
(,
&+2. 8WQQ<A<nY4\Ond]4@@F8naGAT4QnFVd<]8WVT<8dn 8CGTWn Q<TT4]nCWR<an
,(.n,1&&&n (,
&+2/ 4dYn8k8Q<n+nY4QRn;]na4@<dknFRY]Wh<R<Tdan ;<a<]dnCWdnaY]GTAan ;<a<]dn8WT8<Ydan
((&n1&&&&n (,
&+21 8FdkiG;<nY4h<R<Tdn]<C46FQFd4dFWTn RW]<TWnh4QQ<kn 4QQn4R<]F84Tn4aYC4Qdn
,/1n/.,+,n (,
&+22 <QnY]4;Wn];n]<8WTad]f8dFWTnY]WN<8dn 8CFTWn 4QQn4R<]F84Tn4aYC4Qdn
(*(n&,33/n (,
&+23 ]Fh<]aG;<n;]n4T;nNWknadn Q4P<n<QaFTW]?n C4];<adkn4T;n4aaW8G4d<an
+..n(,123n (,
&+3& 4Q5<;4n4h<n4T;n]Wfd<n(+,ni6n_RYan 
 R88W]RF8Pn8WTad]f8dGWTn
(/2n2.3&&n (,&+3( ]<
iH^<nFTd<]a<8dFWTni4aCGTAdWT%RFQ<an Q4nZfGTd4n 8GdknW@nQ4nZfFTdn4n
,3*2.&&n(, &+3* *&(2$*&(3na6
InR4FTd<T4T8<n4T;nd]4@@F8n ]Hh<]aF;<n <6an
)&(3#33+2n (,
&+3+ danRW;G@F84dFWTan4T;nFTd<]8WTT<8dn Y4QRn;<a<]dn 8GdknW@nY4QRn;<a<]dn
/&*n*.3&.n(, &+3, WTdn4]GWn]4T8CnQWAGadG8an8<Td<]ndan WTd4]GWn WTdn4]GWnQ4T;nh<Tdf]<anQQ8n
) n(+)!*(.(.n(, &+3. Y4]4RWfTen6Qh;nR<;F4TnFaQ4T;n ;WjU=ln 4QQn4R<]J94Tn4aYC4Qdn
(3.(.2*n(, &+3/ 6fdd<]@G<Q;nad4A<n];n d<R>:gQ4n iWW;aG;<nCWR<an
)"n(&,*&3**n (,
&+31 T<ind]4@@F8naFAT4QnGTad4QQ4dGWTan 7<QQ@QWi<]n 8FdknW@n6<QQ@QWi<]n
1&&n,1/3(n (,&+32 d<RYnhXan4dn]<b>4\9Dn4T;na8G>TdG@F8n G]hFT<n 4]FmWT4nYFY<QGT<n
*(&&&&&n (,
&+33 a<TGW]n8<Td<]na8<n Y<]]Han 8GdknW@nY<]]Gan
,33&+&&n (,
&,&& <QnY4a<WnY<;<ad]G4TnFRY]Wh<R<Tdan Y4QRn;<a<]dn 8GdknW@nY4QRn;<a<]dn
3+(n+..32n (,&,&( a4Tdn4n4T4n]<d4FQn8<Td<]n a4Td4 4T4n Y]n8WTad]f8dFWTn
/n&&&&&n (,&,&* ad]<<dnQGBEeKTBnSW;<]TFm4dFWTn Y48P4A<n*n a4Tdn4nRWTF84n 8FdknW@na4Tdn4nRWTG84n
&&&n (,
&,&+ GTadn4QQnd]4@@F8naFAT4Qn8WT;fGdn 84]aWTn ]N TW6Q<n
++&&/&3n (,
&,&, <Q<8d]F8nh<CF8Q<nGT@\4ad]f8df\>n a4Tn6<]T4^;FTWn a4Tn6<]T4`GTWn8WfT8FQn
+/+n&&&&'n (,&,&. (&+];nadnA]<<TnLSY]Wh<R<Tdn QWan4TA<Q<an a<Zf<Qn8WTd]48dW]an
1( &3//,n
(,&,&/ d]4@@G9naFAT4Qan4dnYH<]aWTn6Qh;n ;<a<]dnCWdnaY]FTAan 8GdknW@n;<a<]dnCWdnaY]HTAan
/&&n3**.,n (,
&,&1 R884QQn6Qnh;n4T;n4[f4n;]ndan R<TF@<<n Q<TT4]nCWR<an
.+1n1,,2/n (,
&,&2 8FdkiH;<ndan8WRRfTF84dGWTn<4adn R<TF@<<n 9MdknW@nR<TF@<<n
,..n1,&2&n(, &,&3 RWTd<^<kn];nad]<<dnFRY]Wh<R<Tdn aWfdCnY4a4;<T4n <:n8WTad]f8dGWTn
*/+n,/3&3n (,&,(& a4TnAW\BWTGWnhFQQ4A<nd]4@@F8naFAT4Qn 6<4fRWTdn QkQ<nY4]PanN]n8WTad]f8dFWTn
((/n,(/&*n (,
&,(( d_@@H8naGBT4Qn64dd<]kn648PfYn 8CFTWn 8FdknW@n8CGTWn
*+,n&&&&&n (,
&,(* 4QF8F4nY4]Pi4kn4]d<]K4QnY4h<R<Tdn Q4AfT4nTGAf<Qn 4QQn4R<]H84Tn4aYC4Qdn
.,&&&&&n (,&,(+ d]4@@F8naFAT4Qn4dni4]^>Tn4T;n4fdWn6Qh;n C<R<dn 8FdknW@nC<R<dn
*3&n+./+3n (,
&,(, <;FTA<]nY]Wd<8d<;n6FP<nQ4T>an 



4QQn4R<]F84Tn4aYC4Qdn
(33n10-*&n (,
&,(. R884QQnR<a4nd]49dn+(&32nd^4@@G8naFAT4Qan R<TH@<<n Q<TT4]nCWR<an
3&/n,,/&1n (,
&,(/ Y<;<ad]F4Tn8WfTd;WiTnaGAT4QnHRY]n iCGddF<]n 8FdknW@niCHddF<]n +,1n1////n (,
&,(2 YGT<n4nh<nad]<<dnFRY]Wh<R<Tdn 8CGTWnCFQQcn 4QQn4R<]G84Tn4aYC4Qdn
./ &&&&&n (,
&,(3 a8CWWQa@G]adn]C
*nW@@aFd<nad^<<dnFRY]Whn dfadFTn 8
i;]Gh<]
+.1n,3+&&n
(,
&,*& h4QQ<kn6Qh;nW@@aFd<nGRY]Wh<R<Tdan ]H4QdWn 6GAn6<Tn<TAHT<<]GTA nGT8n
(&1n.(&&&n
(,
&,*( d]4@@F8naFAT4QnFTd<]8WTT<8dn ]4T8CWnRG]4A<n 8FdknW@n]4T8CWnRF]4A<n
* 3+*&&+&&n
(,
&,*+ R<]G;F4TnY4]Pi4kn4T;nd]f8Pn488<aan];n ]Fh<]aF;<n Y]FRfan6fFQ;<]a nFT8n
*3*n*&&2&n
(,
&,*, Cikn1,n4T;naWYCF<nadn 8WfTdknW@n]Fh<]aG;<n 8WfTdknW@n]Fh<]aF;<n
.&&n.2.3&n (,
&,*. 4dYn8k8Q<n*n8WRRfTFdknQHTP4A<an QkTiWW;n 4QQn4R<^F84Tn4aYC4Qdn
(.3n3(+31n (,
&,*/ aC<]R4Tni4knad]<<da84Y<nFRY]Wh<R<Tdan QWan4TA<Q<an afQQk RFQQ<]n8WTd]48dGTAn
*13n,,&,.n
(,
&,*1 @G6<]nWYdF8an8WRRfTF84dGWTn;<aFAT%d<adFTAn AQ<T;4Q<n 8GdknW@nAQ<T;4Q<n
(,3n2.2&&n Elecnor Belco Electric Inc.

..

Item 9 Page 327 of 361
,5*52> avIxg~kH~CkSHNI~kIFgaqskvFsSga~ hIkkSq~ @^@CC@qS~
355 2;***~ ,5*52? @s^AbsRG~C^xH~FgkkSHgk~S`hkgxI`Ias~ Fg``IkFI~ qO@ya@a~
,>5 ;:35;~
,5*53, OSNO^AbH~qhkTaNq~@xI~S`hkgxI`Iasq~ C@aaTaN~ @^^~@`IkTF@a~@qhO@^s~
,~-,>~;2?8:~ ,5*533 h@^`H@^I~kH~@aH~`F@ks~kH~ xSFsgkxS^^I~ HIqIks~HIqSNa~CwS^HIkq~
38> 8;:,>~,5*535 hgsOg^TaN~^IN@F|~h@kZ~S`hkgxI`Ias~ FOScg~ ^IySq~`@a@NI`Ias~Fgkh~
2*~*****~ ,5*538 N@kLTI^H~@xI~@s~k@aHg^hO~qs~ ^gq~@aNI^Iq~ Fgvas|~gL~^gq~@aNI^Iq~
::; *3;
82~,5*53: 2~sk@MMTF~qSNa@^~F@CSfIsq kIH^@aHq~ FUt|~gL~kIH^@aHq~
,:? 23:
>:~
,5*53; FTs|ySHI~CSF|F^I~@aH~hIHIqskS@a~S`hkgx~ kSxIkqSHI~ FTs|~gL~kSxIkqSHI~
?;, 5;,
:2~,5*53> gkFO@kH~OS^^q~C@qSf~kIygkZ~ TkxSaI~ ZIF~IaNSaIIkSaN~
:?~:5;>>~ ,5*53? Taagx@sSga~h@oZ~gLLqSsI  q@aH~F@a|ga~ TkxSaI~ OS^^FkIqs~Fgask@FsSaN~
2>* 23:2?~
,5*55* h@^`~Hk~qskIIs~^SNOsSaN~@aH~q@MIs|~S`hkgx~ HIqIks~Ogs~qhkSaNq~ @^^~@`IkTF@e~AqhO@^u~
;,5~85?2;~ -5*55, SaN^IyggH~TasIk`gHA_~sk@aqSs)h@kZ~ SaN^IyggH~ NkSLLSsO~Fg`h@a|~
38:!>2* **~
,5*552 vaTga~qgvsP~D@|~ F@kqga~ ]@~sIkk@~FgaqskvFsSga~^^F~
,:*~;*>;8~ ,5*553 sk,?**:~gkFO@kH~OT^^q~ SkxSaI~ OS^^FkIqs~Fgask@FsSaN~
15?;:?~ -5*555 @sh~F|F^I~STS~ q@LI~kgvsIq~sg~qFOgg^~ gas@kSg~ IhqS^ga~IaNSfIIkSdN~
:5~582**~ -5*558 sOI~`IkNI~gLLqSsI~~kIs@S^~ I@qsx@^I~ Lv^^`Ik~FgaqskvFsTga~
83>'63;**~ ,5*55: Fv^xIk~Hk~@aH~SkxTaI~C^xH~ SkxSaI~ OS^^FkIqs~Fgask@FsSaN~
?2~25,>8~ -5*55; Fkgqqy@^Z~vhNl@HIq~hO@qI~ST~ q@as@ @a@~ FSs|~gL~q@as~@~@a@~
2>> ,*:2*~
,5*55> FSs|ySHI~sq~Fg``vaSF@sSgc~yIqs~ `IaTLII~ FSs|~gL~`IaSLII~
5>5~8;;25~ ,5*55? L^gkIaFI~@~xI~ySHIaScN~ q@cs~@~LI~qhkSaNr~ O@kH|~@aH~O@khIk~
822~5222:~ ,5*58* sk@LLSF~`@a@NI`Ias~FIcsIk~ Lgas@a@~ FSs|~gL~Lgas~@a@~
,&28?~2??>3~ ,5*58, O@`aJl~h^@FI~ I@qsx@^I~ _|^I~h@kZq~Wk~FgaqskvFsSga~
2:3~585*>~ ,5*582 `SHsgya~Fg``IkFT@^~spLLSF~qSNa@^~ CvkEAaZ~ FSs|~gL~CvkC@aZ~
3 **5~8882:~ ,5*583 Saagx@sSga~h@kZ~qhIFskv`~;~gaqSsI~ SkxTcI~ QT^^FkIqs~Fgask@FsSaN~
52>~282:8~ ,5*585 CkI@~C^~xH~oIFgaqskvFsTga~ Lv^^Iksga~ O@kH|~@aH~O@khIk~
,,?~:*?53~ ,5*588 F@qF@HI~qskIIs~S`hkgxI`Iasq~ gas@kSg~ @^^~@`IkTF@a~@qhO@^s~
,2:~2>,**~ ,5*58: qvaH@aFI~Fgkhgk@sI~FIasIk~ CI@v`gas~ ^SqsIk~FgaqskvFsSga~
2;3~*52**~,5*58; OTNO^@fH~@xI~kIO@CS^Ts@sTga~hkgWIFs~ N^IaH@^I~ x@ks~FgaqskvFsSga~ SaF~
28!;*??5~,5*58? O@k^I|~Zag{~C^~xH~@aH~kIH^@aHq~@~xI~ hIkkTq~ OT^^FkIqs~Fgask@FsSaN~
2?!:;;**~ ,5*5:* q@a~X@FSasg~@~xI~@aH~kIH^@aHq~@~xI"~sq~ hIkkTq~ FSs|~gL~hIkkSq~
2; >,, **~
,5*5:, CSFZ`gkI~@~xI~ FOTag~ OT^^FkKqs~Fgask@FsSaN~
:>3~>*5?;~ ,5*5:2 Saqs@^^@sSga~gL~Ix~FO@kNSaN~IjvSh`Ias~ CkI@~ hkILIkkIH~hgyIk~qg^vsSgaq~
2>(7;8#**~ ,5*5:3 s~@OjvSs}~F@a|ga~z@|~@aH~FSxSF~Hk~sq~ h@^`~qhkTaNq~ FSs|~gL~h@^`~qhkSaNq~
53:~:25*>~ ,5*5:5 O@~xIa~@~xI$~@s~`IkkT^^~@~xI~sk@LLSF~qSNa@^q~ gas@kTg~ ^Iaa@k~
3:?~>3;8>~ ,5*5:8 yT^`TaNsga~@xI~T`hkgxI`Iasq~ Fg`hsga~ qvhIkSgk~h@xI`Ias~`Am[VaNq~
:?;~?2>5?~ ,5*5:; O@~yZ~qSNa@^~@s~N@NI~@xI~ OvasSaNsga~h@kZ~ FSs|~gL~OvasTaNsge~iBn\~
,?5~;3,**~ ,5*5:> x@kSg~vq~@ksIkS@^~@aH~kIqSHIasT@^~qskIIsq~ N@kHIa~NkgxI~ kYagC^I~
?1;85*3~ ,5*5:? aIy~sq~@s~N@kLTI^H~@~xI~@aH~`v^^Ik~qs~ CI^^~N@kHIaq~ FSs|~gL~CI^^~N@kHIcq~ 4+9~<.=%*2~,5*5;* y~@^`@ks~qsgkK~ag~2*;;*;~ ^@ZI~I^qTagkI~ qO@`Iq~FgaqskvFsTga~Fg ~^sH~
2:/~ 0*5,*~
,5*5;, kkLC~LTxI~hgTcs~ SkxTcI~ kYagC^I~
3:!*****~
,5*5;2 hIHIqskT@a~q@LIs|~S`hkgxI`Iasq~ go@aNI~ FSs|~gL~gk@aNI~
,58~;;2**~ Elecnor Belco Electric Inc.

..

Item 9 Page 328 of 361

&
&*& 4FcolF79 Z/h9T:Vaq\:C02EREb0fEYW TY\9WYqh/NN9oq D/\7oq/W7 D/\Z9\
&(( (

&
&*( N/_qhF\A9W9_ \7qc\/>@H5q`GBV0O_ NY_ /WA9N9_ 4YgWcoqY> PY_ /WA:P:_
&) +&*

&
&*) ?NYl9\ _c\99cq3FK9l/oq _/Wc/ /W/ 4FcoqY? _/Wcq/ /V/
*(* )$,

&
&** _/W ?9\W/W7Y \Y/7 \9D/3FNFc/cFYW AN9W7/N9 AJ A9Wc\oq
"!$ "

&
&*+ _d9\SFWA /h9 _/W 39\W/\8FWY YWomqZ/hFWA
,$"$$$

&
&*, NoYW_ /h9Wg9 /dq/ZZN9 _d\99cq _/Wdq/ 4N/\Fc/ 4FcoqY? _/Wc/ 4Q1]Heq1
$ ,,

&
&+ 9 /W/D9FT _c /W7 /cN/WcF4 /h9 NYWA 39/4D Z\ 4YW_c\g4cFYX
& 
,**,

&
&+
$)*ql FTZ9\F/N DFADl/oq_c\99cqNFADcq D/lcDY\W9 ZYg\W/T7/\F FW4 "$++

&
&+" Z979_c\F/W Do3\F7 39/4YW TY\9WYqh/NN9oq _F7^ A\YgZ FW4
$( (*(

&
&+$ ?oq#
,# ?N/_DFWAqo9NNYlq/\\Ylq ^W4DY 4g4/TYWA/ 4FcoqY? ^W4DY 4g4/TYWA/
"+* ()+$

&
&+& NYWA 39/4D 3Nh7 
( ?loqFWc9\4D/WA9 NoWlYY7 D/\7oq/W7 D/\Z9\

),$+,

&
&+( / _c\99cqFTZ\Yh9T9Wc_ Z9\\F_ DFNN4\9_cq4YWc\/4cFWA
#$ #() ,

&
&+) L/c9NN/ /qh9qlF79WFWA /W/D9FT /\4DF4Y 79_EAW /W7 3gFN7
* + +,"(

&
&+* /7hq/W497qc^??F4 T/W/A9T9Wcq \/W4DY 4g4/TYWA/ 4FcoqY? \/V4CY 4g4/TYWA/

)))")+

&
&++ W h9\7gAY \7qc\/??F4 _FAW/N_ AN9W7/N9 4FcoqY? AN9W7/N9
$ &+"$$(
'&+, 4YW7gFcq/NYWA 3Y3 DYZ9 7\ \/W4DY TF\/A9 4FcoqY? \/W4CY TF\/A9
"&%) '&, "# _Z\FWA Z/h9U9WdqT/W/A9U9WcqZ\YA\/T N/W4/_c9\ _gNNo TFNN9\ 4YVc\/4cFWA
(+
*$,
,

&
&,
4hqNFWK YW
_c\9:aq4N/__ Fhq/W7 W9hqZ/cD Z/NT 79_9\cq A\/WFc9 4YW_c\g4cFYW
"+ *+"$$

&
&," 4D/K9T4Y _c FTZ\Yh9T9Wcq _YgcD A/c9 D/\7oq/W7 D/\Z9\
)+"+ *&

&
&,$ $
, /N/3/T/ _d\99dqFTZ\Yh9T9Wc_ \97N/W7_ 7gK9 \9/Ncoq
&* 

&
&,& #(
,
AN9W7Y\/ AN9W7Y\/ 4/N Z/4F?F4 4YW_c\g4cY\_ FV6 
*#
(

&
&,( gZA\/89 9mF_cFWA T/\K97 4\Y__l/NK_ TY\9WYqh/NN9oq 4FcoqY? UY\9WYqh/NN9oq #+, +

&
&,+ h9Wcg\/ 3Nqh7-qco\YW9 /qh9. TYY\Z/\M _D9\T/W Y/K_ Z/4F?F4 _c/\ 4/ZFc/N
$&& (*$($

&
&,, c\/??F4 _FAW/N FTZ\Yh9T9Wc_ 4/cD97\/N 4Fcoq 4FcoqY? 4/cD97\/N 4Fcoq
(),()(&

&( T9\\FNN /W7 D/h9W /qh9 _c\=9cqFTZ\Yh9 YWc/\FY /NN /T9\F4/W /_ZD/Ndq
$ )"*

&(" c\/??F4 _FAW/N FW_c/NN/cFYW A/\79W A\Yh9 4FdoqY? A/\79W A\Yh9
*,& &,)

&($ 4/_U/NF/ _c FTZ\Yh9T9WcqZ\YJ94cq \F/NcY D/\7oq/W7 D/\Z9\
," *(

&
(( NYYZ \9Z/F\ YW ZDFN/79NZDF/ /W7 A\Yh9 YWd/\FY Z\ 4YW_c\g4cFYW
$ (

&
() h/WqhNF9cq_c\99cqNFADcFWA 4DFWY N9lF_ T/W/A9T9Wcq4Y\Z
")( *" (

&
(* N/ 3\9/ /W7 [g99W \9
lF\9 FWAN9lYY7 FWN/W7 9WAFW99\FWA _9\hF49_ 
, )$*

&
(+ DFADN/W7 ?/F\hF9lq
4Y\ZY\/c9 Z/\K ZD/_9 FFF TY\9WYqh/NN9oq TFNNF9 /W7 _9h9\_YW )*$ (,"

&
(, 4YNY\/7Y _c /W7 4YNgU3g_ /h9 AN9W7/N9 D/\7oq/W7 D/\Z9\
(& ((*+

&
(
 h9\WYN/ T/\K9cqZN/49 Jg\gZ/qh/NN9oq l9\T9\_ TgNcF
?/TFNoq4Y\Z $ *"
&
(

,
+ /N/3/T/ Y??_Fc9 Z/4K/A9 \;7N/W7_ /NN /T9\F4/W /_ZD/Ndq
+" *&+$
&
(
" ?YYcDFNN 3Nh7 Z/h9T9Wcq\9D/3FNFc/cFYW ^W4DY 4g4/TYWA/ /NN /T9\F4/W /_ZD/Ncq
&" ,))

&
(
$ hFW9o/\7 /h9 /cq_/W 39\W/\7FWY \7 ^W4DY 4g4TYWA/ 4FcoqY? \/W4DY 4g4/TYWA/
, $"$

&
(
( AY9cpq\7qlF79WFWA FTZ\Yh9T9Wc_ Z9\\F_ /N/33/_F
*
*+(&$

&
(
) _F9\^ /qh9 Z/h9T9Wcq\=D/3FNFc/cFYW WY\4Y YWonqZ/hFWA
$&$&#

&
(
, 3\IAA_ \7 /W7 9h9WFWA ANYlq7\qc_ ?\9W4Dqh/NN9oq 4YgWcoqY? \Hi:\_F79
$"* ,$#&+

&(" _o4/TY\9 4/WoYW 3Nh7 /W7 TFWW9_Yc/ql/oq 3Ymq_Z\FWA_ 4YgWdoqY? \Hj:\_F79
&(, "$

&
("
c\/??F4 _FAW/N N9?cqcg\W ZD/_FWAqgZA^79 4gNh9\ 4Fcoq 4FcoqY? 4gOk<\ 4Fcoq
+
$")&+)
Elecnor Belco Electric Inc.

..

Item 9 Page 329 of 361
08-;56 KF~QhZoQysFNZluys‡QlQouyseQL yZFhs FhhFlQyZLFoFuYFh
6=A;608 08-;5; Wys‡QlQyyZhhFoOUhZWYF‡Q LYZos FhhFlQyZLFoF~uYFh
16;558>= 08-;5= Wys‡Q UhZWYFoNlQy{ZhhF‡Q LYZos lZhhZQFoN~Q‡Qy~so
A;5605;0 08-;5> UsyKs‰L„h‡Qy LFL„~pQQzFo~ˆFŠ lsyQos‡FhhQŠ hQˆZ~lFoFWQlQoLsyu
A5---- 08-;5A KQ‹QyhŠLQoQyyQos‡FZso hsFoWQhQ~ KQyWQhQLyZL
08 6=88- 28-;5B WZhKQy~+ZNFYs‚yQWZsoFh~ŠoLY U„hhQyso LZŠsUU„hhQyso
5658=;1; 08-;6- uFhslFyF‡QˆZNQoZoWuyseQL Š„LLF‡FhhQŠ FhhFlQyZLFoF~uYFh
158158-B08-;61 lQyZNZFof8~ZWoFh~ lsyQos‡FhhQŠ hQˆZ~lFoFWQlQoLsyu
A8688-5= 08-;66 ~FNNhQKFLfLshhQWQ,l lZ~]so‡ZQcs yc osKhQ
6> 0===6 08-;68 Qh~QW†rNsKh‡N
FoNNsŠF‡Q YFˆYsyoQ ~YFˆoFo
;;>--
08-;6; Q„LFiŒv
~F‡QyQQZluys‡QlQo~ soFzZs FhhFlQyZLFoFuYFh
=86A;-- 08-;6= ysQLzHoF‡QyQ„yUFLboWuysdQLal lFoYFFoKQFLY FhhFlQyZLFoFuYFh
5-8=C5= 18-;6> Y„oQyLs
y hFfQUs}~ QhQ‡QoˆQ~QyoK„ZhNQy
[oL
BBAA>-=
18-;6A uyHZyZQF‡QZluys‡QmQouysdQL uYF~QZ] YFˆYsyoQ ~YFˆoFo
;0A :A;-;
18-;80 nFdsyyQQyQYFK\j`ƒGƒZso uslsoF FhhFlQyZLFoFuYFh
153A A=-8;18-;85 ~shFyyFNFyuQQNZWo~ yZ‡QyZNQ hQˆ]~lFoFWQlQoLsyu
050>--- 18-;86 FN‡FoLQNNZhQllFsoQNQQLZsoŽsoQ lsyTos‡FhhQŠ LZŠsUlsyQos‡FhhQŠ
>B- ->=
=5
18-;8; yQuhFLQNHlFWQNushRYFU NQ~QyYs€wyZoW~ LZŠsUNQ~Qy‚Ys~uyZoW~
5A561./18-;8A 0B-Y~g^qWYFyKsyQoyŠ~ZWo yQNsoNsKQFLY L]ŠsUyQNsoNsKQFLY
4<=6;= ==
18-;8C hZhQhQFX„QNyFoNlFWoshZFF‡Qh ~FoKQyoFzNZos y„lFyfYslQ~
15D?9=-- 08-;;- yQuF_yFysQlQJ+lFzYFhh ysQlQFN QUZQoWZoQQyboW
8 -4E55 18-;;0 yFUUZL~ZWoFhYFyNˆFyQ„uWyFNQ~ uFhlNQ~Qy LZŠsUuFhlNQ~Qy
5A> B15!-- 08-;;5 FhZ„NQK„~ZoQ~~LQoQy~Zluys‡" LYZos YFyNŠFoNYFyuQy
=5;6=-- 08-;;= |NHyUQQNKFLf~ZWo~ syFoWQ LZŠsUsyFoWQ
0A;#5>0=> 08-;;C ~fŠk[oQyFoLY FoFLhFyZF uFyNQQYslQ
5583-$-- 08-;=- hs~FoWQhSLs
oyŠLh
K hs~FoWQhQ~ KQyWQhQLyZL
51=88--
08-;=0 s
YWFQushZLQNQuuFyfZoWhs ~s„Y WFQ QLLso~y„LZso
5-=8-05 08-;=6 |lsoFQ‰uyQ~~ˆFŠ WZhlFoYsuyZoW~ FhhFlQy]LFoF~uYFh
06B 60B--
08-;=; ~lsNZUZLFZsouysdQL yFoLYsL„LFlsoWF LZŠsUzIoLYsL LFlsoWF
5-C ->8
--
08-;== ;Y~yQQˆQFoNF
sLQoQyNy% uFhlNFhQ LZŠsUuFhlNHhQ
6=-
A0;--
08-;=@ uyseQMKy„]o s‰oFyP KQyWQhQLyZL
5A;AB--08-;=A „~LY~L‡FhhQŠ~„yUFLQFxyfZoWhs hs~FoWQhQ~ KQyWQhQLyZL
3> =55;- 18-;=C FlFyyNFoNosWFhQ~ ˆFho
 FhhFlQyZLFoF~uYFh
8;----
18-;>5 uF‡QlQoyQYFKZhZFZsouysWyFl QlQL„hF yd osKhQ
8C =A5 5-
18-;>6 uQyyZ~lFyLYuhFF uQyyZ ysLfˆssNLso~y„LZso
8;8--- 18-;>8 yQ~ZNQoZFh~&yQYFKZhZFZso syyFoLQ FhhFlQyZLFoF~uYFh
=5'B6>58 18-;>; A;BoNQysZ~ hs~FoWQhQ~ dLFLsoy„LZsoLsluFoŠ
68 B36AB 18-;>> „Ly
NQo~
LLQ~~LQoQy yZ‡QyZNQ KQyWQhQLyZL
8>----
18-;>A hs~ysKhQ~Ys~uZFh Ys
FoNsFf~ KQyWQhQLyZL
6;--$--
18-;A- o ZoN]FoLFoŠsoNyˆZNQoZoW o( uFhluy_oW~ FhhFlQyZLFoF~uYFh
6-8)>B8 6518-;A5 QlQyWQoLŠyQuFZyˆszf ~s„Y WFQ LZŠtVs„YWFQ
5A*7;;=3 Elecnor Belco Electric Inc.

..

Item 9 Page 330 of 361

&

(.& 0H>ZPd`>8FPd38=0`PT>0Hd=80H[=41T8d 0H>ZPMd`>8FPd 38T<d8H84[T>4d
$*



d

&

(.( a>HZ=>T8d3H`7d[8KQH8d8`8M[Zd3_AI7>M<d JPZd0M<8H8Zd 38T<d8J94[TE4d
$/& 

d

&
(.+ 4QTdQ0TG>M<dHP[dH><=[>M<dT8Q0>Td ZcHK1Td 0JJd1K8T>40Md0ZQ=0J[d


&

(., <H0ZZ8HHdZ[d0M7d4PJHEMZd0`8dJ8;[d[^TMd PT0M<8d 4>[cdP;dPT0M<8d
".&d$$ 
,d
&

(.. [ZdKP7d J0G8aPP7d0M7d=0T7a>4Gd H0G8aPP7d 5?[cdP;dH0G8aPP7d
"+/d,$(",d

&
(/
4=0QK0Md0d`8d0M7d;8J7M8TdT7dJ8;[d[^TMd PU2M<8d 4>[cdP;dPT0M<8d
"(/d&+$."d

&
(/
4=0QK0Md0`8d0M7d;HPa8TdZ[dH8;[d[^TMd PT0M<8d 4>[cdP;dPT0M<8d
".dDd,".d/&d

&

(/" [ZdEMZ[0HH0[>PMd0M7dKP7d Q=0Z8d"d <H8M70H8d 4>[cdP;d<H8M70J8d
" /
d"+/+
d

&

(/& "
"
d;0HHdQ0`8K8M[dT8=03>J>[0[>PMd PM[0T>Pd 0JJd0K8T>40Md0ZQ=1J[d
+"d&&


d

&

(/( 4=>MPd070dWKQZd[dKd 4=>MPd K>HJ>8d0M7dZ8`8TZPMd
+//+//d

&

(/+
$$&&dK0>MdZ[d JPZd0M<8H8Zd K>HJ>8d0M7dZ8`8TZPMd

/d+,,

d

&

(/. >M7^Z[T>1Jd3Jd`7d0M7dZ>H>40d7Td `>4[PT`>JH8d Z^HHcK>HH8Td4PM[T04[EM<d
"+d .&

d

&
+

Z^M71M48d4=8TTcd0`8d 380^KPM[d =0T7cd0M7d=0TQ8Td
$$d(+$+/d

&

+

$[=dZ[dQ0`8K8M[dT8=03>H>[0[BPMd ^QJ0M7d =0T7cd0M7d=0TR8Td
, '
/&$d

&
+
" Z[T88[dT:Z^T;14EM<d0M7dZ8a8TdT8Q0>Td <J8M70H8d [PTPd8M[8TQT>Z8Zd
$(d&(+

d

&
+
, Z4=PPHd4TPZZa0JGd>KQTP`8K8M[Zd WM4=Pd4^40KPM<0d 4>[cdP;dT0M4=Pd4^40KPM<0d
$
d
-.+.d

&
+
. K>ZZ>PMd3J`7dQ1`8K8M[dT8=03>J>[0[>PMd F_T_Q0d`0HJ8cd 1HHd0K8T>40Md0ZQ=1H[d
""&..

d

&
+
/ 4>[ca>78d[Zd?LQTP`K8M[ZdQTPF84[d 4H0T8KPM[d 4>[cdP;d4H0XKPM[d
("(d$+&(-d &
+
$ =8M78TZPMd0d`8d QPT[8T`>JH8d 40dQTP;8ZZ>PM0Jd8M<EM88T>M<d
" 



d

&
+
. 307>JHPdZ[d>KQTP`8K8M[Zd 4P`EM0d Z8S^8Jd4PM[T04[PTZd
"&&" 

d

&

+
/ JPZd0J>dZPZd3Hd`7d K>ZZ>PMd`>8FPd 0HHd0K8T>40Md0ZQ=0H[d
/+&($

d

&

+"$ 8JdLPM[8d3>G8d3Jd`7d 8HdKPM[8d 0HHd1K8T>40Md0ZQ=1H[d
"&/+/.-d &
+"+ <V0M7d0d`8dQ0`8K8M[dT8=03>H>[0[>PMd 4=EMPd=>JJZd TF MP3H8d
.&d($ +(d

&
+". <J8M71H8dW[QKZd <H8M70J8d 4>[cdP;d<J8M70J8d
$,
d(



d

&
+$
4PM7^>[dEMZ[d0HJd V8a>T8dd[Zd403EM8[d T87H0M7Zd 4>[cdP;dT87H0M7Zd

$
",
d

&
+$
M8><=3PT=PP7dZ[T88[d>KQTP`8K8M[Zd Q1T0KP^M[d 0HHd0K8T>40Md0ZQ=0H[d
"&./&

d

&
+$, ;>b87dN8[aPTGdQPJ8Zd ;PM[0M0d 4^40KPM<0d`0JH8cda0[8Td7>Z\T@6]d
"/



d

&
+$/ H><=[dQPJ8dEMZ[0HH0[>PMd QPKPM0d ;PP[=>JHd[T0MZ>[d
"&( 

d

&

+&$ =Z>Qd4c4H8d.d[Zd>KQTP`8K8M[Zd J0G8d8HZ>MPT8d 4>[cdP;dH0G8d8JZ>MPT8d
(/$d.,",&d

&
+&& 4>[cdP;d=PQ8dMPT[=d80Z[dQ0TG>M<dZ[T^4[^T8d 7^0T[8d 38T<d8H84[T>4d

/(/

d

&
+&, Q0`8K8M[dT8=13d KPT8MPd`0HH8cd 0HJd0K8T>40Md0ZQ=0H[d
. $,.

d
&
+&/ QP[=PH8d8b>Z[>M<d^[>H>[8Zd K8M>;88d H8MM0Td

d$/
$$d

&
+(
4J0TGd0d`8dT8=03>HC[0[>PMdQTPF84[d 38HH;HPa8Td TFdMP3J8d4PKQ0Mcd
(( "+


d

&

+(& 30[[8Tcd3^Zd4=0T<>M<d>M;T0Z[T_5[^T8d MPTa1JGd 4>[cdP;dMPTa0HGd

"d
((/
d

&
+(- <H8MOdT0M4=dT7dT8=03>H>[1[>PMd H0G8d;PT8Z[d 0HHd0K8T>40Md0ZQ=0J[d
&d



d
&
++
T8Q0>Td33Zd0[d;>TZ[dZ[d0M7d8KPTcd0`8d 380^KPM[d JcJ8dQ0TGZdFTd4PMZ[T^4[>PMd
$d-" "-d

&
++" H^<PM>0dZ[d4PM7^>[d>MZ[0HHd T87H0M7Zd 4>[cdP;dT87H0M7Zd

.(


d

&

++( ;cd"
"

"
d0MM^0HdQ0`8K8M[dK1>M[8M0M48d PT0M<8d TFdMP3H8d4PKQ0Mcd
d.$

"d

&
+++ ;cd"
"
"dTP07a0cdT8=03>H>[0[>PMd QH048M[>1d TFdMP3H8d4PKQ0Mcd
d.$ 
"d

&

++, P480Md3Hd`7dZ>78a0HGd>KQTP`8K8M[Zd M8aQPT[d3804=d `>7PdZ0K0Y>4= d>M4d
"/
,$
#
d
&
+,
`0MdM8ZZd0`8d0M7d
$/[=dZ[d>KQTP`8K8M[Zd <0T78M0d 0JJd0K8T>40Md0ZQ=0H[d
$!,(% )d Elecnor Belco Electric Inc.

..

Item 9 Page 331 of 361
#+
"-.) 6L?d6O=?Ti 9??:FcQQ=i6O=iYFGTL?ei LeOcQQ=i Z`LLeNGLL?Ti:QO\T6:\IOEi
*."""""i #+"-.- S?=?Y\TG6Oi:TQYYGOEi?OF6O:?N?O\Yi S6Y6=?O6i :G\eiQBiS6Y6=?O6i $,)i.+,0"i #+"-.2 ;9LQ:KiS6TKGOEiY\T`:\`T? QO\6TGQi 9?TEi?L?:\TG:i
"""i #+"-0- F?6:Q:KiY\i NQT?OQia6LL?gi 6LLi6N?TG:6Oi6YSF6L\i
)+ """""i #+"-02 L6::=iYQ`\FiE6\?i YQ`\F E6\?i ]`TO?Ti:QOY\T`:\GQOi:QNS6Ofi
, 0")*-i
%+"-2+ :QQS?W\Ga?i:G\e!i:Q`O\eiS6a?N?O\iT?F69 i FGEFL6O=i N6\G:Fi:QTSQT6\GQOi
., 0)2-$i
#+"-2, 96TV6O:6i6O=iN6TGO?i GTaGO?i 9?TEi?L?:\TG:i
*. +,)#"i
#+"-2- L6O=N6TKi\Qc?Ti MQYi6OE?L?[i 9?TEi?L?:\TG:i
hh "++""i
#+"-2. :6OeQOiYSTGOEYiNQ9i TGa?TYG=?i 9?TEi?L?:\TG:i
#" ,""""i
#+"."# Y\T??\iGNSTRb?N?O\i*T=iY\i Y6Oi9?TO6T=GPQi N6\G:Fi:QTSQT6\GQOi
-#i.0"""i #+"."- -)+"iST?Y:Q\\i:Q`T\i :FIOQi 6LL?OiSTQS?T\G?Yi
-)",""i#+".". QLGa?i6a?i6O=iGTGYi:Q`T\i6T@7i B`LL?T\QOi F6T=ei6O=iF6TS?Ti """i #+"."3 :6L\?:FiT?YOI:KiY`Y\6GP69GLH^gi S6Y6=?O6i 9?TEi?L?:\TG:i $-i0""""i #+".&1 <G\ecG=?iS?=?Y\TG6Oiia?FG:LAi_U8CDH;i c?Y\i:QaGO6i Y`S?TGQTiS6a?N?O\iN6TKGOEYi ))i-+"""i #+"/'4 YGEO6LYi6\iKGN96LLi6O=iN?6=Qcia6LL?ei :FIOQi QT9GYiT?6Li?Y\6\?iS6T\O?TYi
.))-#*i #+"/)" O?ci?L?:\TG:6LiY?TaG:?i6\i#0"(+icGK6iT=i 6SSL?ia6LL?ei \QcOiQBi6SSL?ia6LL?ei
+)i*00""i #+".)+ E\V6OYiQOY\T??\i9`YiYGEO6LiSTGQTG\ei E6T=?O6i :G\eiQBiE6T=?O6i
0*i-2*""i &+".), TQY?:T6OYi6ia?iY\T??\iGNSTQa?N?O\Yi B`LL?T\QOi TJiOQ9L?i:QNS6Oei """i #+".)2 LG\\L?iL?6E`?i=Ti T?SL6:?iY\QL?OicIXi Y6Oi9?TO6T>GOQi \T`N6TKiFQN?Yi
)0i0.* 0,i
#+".** S6:GBG:6iF`O\IOE\QOi9?6:FiS6TKGOEiY\T`:\`T?i F`O\GOE\QOi9?6:Fi 9?TEi?L?:\TG:i ++i0""""i #+".++ YL`TTeiY?6LiSTQJ?:\i N6OF6i\\i6Oi9?6:Fi 6LLi6N?TG:6Oi6YSF6L\i
#.i)+)""i#+".,+ TGa?TYG=?i=T i6O=iNGLLGK?Oi6ia?
i QO\6TGQi 6LLi6N?TG:6Oi6YSF6L\i """i
#+".20 FGEFL6O=iYSTGOEYi6ia?i\YiN6GO\?O6O:?i 9?6`NQO\i 9?6`NQO\ Y`O=6O:? LL:i ,i#-,""i _Q\6LY5i
)+"i#"*i".)-2i
Elecnor Belco Electric Inc.

..

Item 9 Page 332 of 361











"
û
ĝ
K


ĝ
ª
.

T
î
7(ĝ¦

.-7ĝ«
.
-Ċ(
X
-pĝ²ïЂĝ
M'
Ć
ĝ%

ĝ
ĝ
Ä

2 ĝ
O¬.,
4-ċP(X4-ÍP. 4ÅQ7Q(
çĝR55SRSÉÊ ĝË
N

ĝ"'
Yĝ
¯

ą'
ĝ
úOGÛ,ð,È,,







%_

ĝÂÞT
ĝº(
ćßÒ
\Čĝ N
ĝJa'&
/
ĝ!
r@sBAC!ĝ
©

ĝ>Œtž>u™šŸĝ

+D#ÀÇĝ»#¾DL$H+J"#ĝ







–ƒ ¶ãĝ
)ĝÑZ]
bĝ³
3
ĝ­ĕ
/

ĝ$ĎĝIÖ1
/ĝd#$Hĝ—ĝ
ĝ`Ü
ĝV


ĝ'ĝ)

ñĝ

)




›*œ=ĝ !„£¤ĝ ?*Ĝ v!
wx¢ĝ
ĝÌ

 




·ĝ
ďýĝZ]
cĝò
&
þĝ
ĝàåa

ĈØí

ĝ
ă[ĝ

ĝ¸
±+ 
èĝ
ÿĝ
ĝ


ĝ
ĝ

ĝ


†
 °

Ï< ¹
E+ĝ3
ø
Ó&é
ĝó

 µĝ82ĝ
ĝ6

< %ĝĝē32ĝÔ


 %ĝ
ĝ8Ā2





?
*
˜ĝ




Ž
e9kĝf9lĝ
ę
 jn yz{  ‘| = }~Ě ’ĝ “ ” ::• ě
Áĝ

üĐ
ĝU0
ĝW
ĝ"
qĝV
ĝô00gĝĝ)Ē
ĝá
ĝ
ĝW
ĝ
ìĔĝ

ĝh;m¥ĝĝF

ĝiĘ
ĝ

ĝ
ĝ
6ĝ
&č
ĝ
‡ĝ L
E+ĝ **ĝĝ

ĝ
ĝ'`ĝ


ĝ0

ĝ


ĝ
6ĝā0
ĝ

)€
ĝ
&ˆĝ Ã

1 1äĝ
ĝ#$Iĝ×

ĝ
/ĝĂ
ĝĄ


ĝ
ĝ Fõæ^
‹´
ĝ$
ĝ
ĝ §[ê

ĝ8
öĝ


_
ĝM
ĝ

ĝ %/1Ùĝ½ĝ

oĝ%
âĝ"
^UY
ĝ

ĝ#



ĝ
ĝ ®

)

ĝ$

ĝ¿3÷Úĝ
¡ ¨

ĝ


Ėĝ"

‰ K

ĝÎĉù G \ĝÆđ(ėÕë
&Š ¼Ý
ĝ
!;
@

BAC!
Q

Q Q77*!AQB5QK59)9@
Q671AC#52Q8+#"AQ
CQ5-7=AQC
QM79$1Q5QD
#AQ51E=C59QF5Q5C
9AQ5QA#.$*9QA#PQCN7Q
4Q:C%5QAQ
&1ADQ11I*Q7;/'I.Q
CQ
AQQ#=GQ5>9,C%51QC5Q5KQ0I QC
Q51H9C5;Q7OAQ(3QL5:)?@Q5.7Q7<.#J.Q
Elecnor Belco Electric Inc.

Pa
ge 333 of 361
..

Item 9 Page 333 of 361














L$-*MRÅFGA/G$9Å
L$.+NSÅCHA/G$:Å(A%P9,=N$M0AÅ
Y &”ÅÁ”¸ÅmY¼dÅYžœo°¯dÅ®Yed¯Àŗ¦”jœYˆÅˆYŒºY
 7Y®°Åœd¼o®p”ŒÅbY¯dÅ
V
2W W
W
W WW
ÅXXXXÅW
\ &”ÅÁ”¸ÅmY¼dÅYžœo°²dŒÅ®Yed°ÁÅeod„bňYºY!
^ $œdÅY„ž”~dœ®Åjp¼dÅYÅ[””d°Å¯mY¯Å^”Œ°YpŒ®Å¾”œ~޸‚d® œd®—”Œ®q\{„o°od®ÅYŒbŔ°mdœÅY——¦”—œpY°dÅrŒf”«‹Y±p”#

 DB80%TÅ$>'Å;$=$/,<,=OÅLQFEAIM
Y '”ÅÁ”ºÅnY¼dÅYÅ®Yfd´Áŗ”‚s_ÁÅ®²Y°dˆdŒ°Åeœ”ˆÅYŒÅ”hip^dŸÅ”e °mdÅ_”‰—YÁ#
[ (”ÅÁ”ºÅnY¼dÅYÅbo®^o—„oŒYªÁŗœ”_d®®Åg”œÅdŒf”Ÿ^dˆd¯
”eÅÁ”¹œÅ®Yed°Áŗ£”k Yˆ#
^ '–d®ÅˆYYkdˆd¯Å®d²Å_”œ—”œY°dÅ®Yed±ÁÅj”Y®#
b &”d®Åd¿d_º°o¼dňZŽYjdˆd¯Åœd¼od¾

$_`zbdŒ±Å¡d™œ±®"Å
LYfd°ÁÅ®°Y°o®¯o^®#Å

0Œ®—d_¯t•ŒÅd—”œ¯®#Å
d &”ÅÁ”ºÅ®Yfd±Áŗœd
šºYofÁÅ®º[^”°¦Y_²”®#
f &”ÅÁ”ºÅnY¼dÅYžœu°¶dÅ—”v^ÁŔŒÅY^^pbdŒ°Å¢d—”­oŒk
YŒbÅo¼d®°okY²o”#
l '”ÅÁ”¸ÅmY¼dÅYńrjn¯
c¸°ÁÅ£d¯º¦“
°”¾”ª~ŗ”w`Á#
m 0®Å®Yfd²ÀŗY©·Å”fÅÁ”ºœÅ®º—d©½x®”¬®Å—d©f”¦ˆYŒ_dÅd¼Y¸Y³p”Ž# o )–ÅÁ”¸ÅnY¼dÅYŗdœ®
”ŒYƒÅ˜§”¯d^³o¼dÅd›ºo—ˆdŒ°Å
FF,ŗ”o_Á#
%o^dÅAŒdÅ
Rd®Å =”Å
Rd®Å =”Å
Rd®Å =”Å
Rd®Å=”Å
Rd®Å?”Å Ud®Å =”Å
Rd®Å @”Å
Rd®Å =”Å
Rd®Å =”Å Rd®Å =”Å
Rd®Å=”Å
Rd®Å =”Å
Rd®Å =”Å
Rd®Å =”Å
} )”Å”¸ÅmY¼dÅYžœo¯°dŒÅ®º\®´YadÅY\º®dŗœ”j¦Yˆ# Rd®Å=”Å 0gÅÁd®Åb”d®Åo¯Åy‘_„»bdÅ^md_~ÅY‚ÅY——„p_Y]dÅ[”¿d®
ÄÅF¤ddˆ—”ÁˆdŒ°Å°d®°ojÅ 3ÅJd°¹¨Œ±”b¸°ÃÅ°d®
µoŒkÅ
ÄÅGYŒb”ŠÅ³d®°oŒjÅ
&|®_r—oŒY¦Áŗœ”_d®®Å
4ÅKdY®”Y[
dÅ_Yº®důd®¯zjÅ 5Å$^”m”Å°d®°oŒkÅ
6ÅF”®°ÅY__pbd°Å°d®°pŒjÅ >Y°o”ŒY†Å1Œ®°o°º°dŔŒÅ'œºkÅ$\¹®dÅ FY’dÅL_¥ddŒÅ
€ (”d®ÅdY_mŁd¼dÅ”eňYYkdŠd°ÅmY¼dÅY®®ojŒdbÅ®Yfd°Á
b¹°pd®ÅYŽbŜd®—”®o[o‡o°od®"
Rd®Å=”Å
Elecnor Belco Electric Inc.

Pa
ge 334 of 361
..

Item 9 Page 334 of 361

<6&-'.#É-É06(!É 99(0/
P
”ÉÔºÉV”WºV¯É®PZY¯ÃɔŸjY¯P²h”É¯¤Pee‹`É^— ÉYPVb
Y‚É ÃYY AY®É-”É
R
”ÉÔºÉV”XºV°É®j±YÉ®PZY¯Ãɔ¡kY°P°f”É]”¢ÉYÀY¥Ã AY®É/”É šY¢®”ŒÉ“YÁɲ”ɯcYÉw”SÉ®g¯Y
V
”Y®ÉÔº¢É®PZY°Ãɚ£”a¤PƒÉ¢Yœºj¤YÉ®PZY¯Ãɯ¢PjfaɄYY³ha® AY®É/”É Z”ŸÉYPVcÉ®¹šY¬Ài®”¢É
Z”¡Y
PÉPXÉPS”ÀY
$”Áɔ_YŽ

>YYz|ÃÉ 
*”Ž¯c}ÃÉ

4ºP¢°Y¢|ÃÉ 
ºP|}ÃÉ 
0²cY¥ÉFGHÉIÉ
X
”ÉÔºÉc”|Xɯ””|ÉU¯Pj|aP¯YÉ®PZY¯ÃɆYY¯jŽa®
]˜Vº®YXɔÉÔ»¢É®šYVkZjVÉÁ”¢{ɔšY¤P¯f”®Yš”®º¢Y® AY®É/”É $”ÁɔZ³Y
EÉ?YYz~ÃÉ
 Pj~ÄÉ
0´cY¦ÉJJJÉKÉ
Y
”ÉԺɢYºj¥YÉYžºjš‡Y¯É”šY¢P¯j”VY«°fZvVQ²k”Éµ¢Pfja AY®É-”É 
+&-'7959'0.É-É250
"=6"7
P
”Y®ÉÔº¢ÉÁ¢l²¯YÉ®PZY²Ãɚ¤”a¢P
ÉPXX¥Y®®
PX
jj®¯¤P°mÀYɛ¤™YXº¢Y®
'[ÉÃY®ÉVcYVzÉÁckVdÉPšš|ÃÉ
LÉ3¢Yɚ¤˜xYVµ¯P®zɚ}PfaÉ
ÆÉ6YV”¢XÉzYYšfaÉ
AY®É-”É
ÇÉ!
Y§aYVÃɚ¢”VYXº¤Y®É

ºXk¯®j®šYV¯j”®É
MÉ8PZY·ÃÉV”

k¯¯YY®É
Æ%C
1+É
ÈÉVVnXY²ÉoÀY®¶jaP¯k”®¢Yš”§¯faÉ
LÉ7ºS®°PVYÉPS¼®Yɛ¢YÀY¯j•É
6Y²º­¯” Á”¢zÉ
ÈÉ:¥PjpaÉX”V½‚Y°P¯t”‘É
NÉ$PÅP¤X”º®ÉÁ”¢zɚYªˆk°®É
LÉ7ºT”°¢PV¯”¤Éš¤YºP|j]fVP²k”É
S
”ÉÔºÉdPÀYɚ¢”xYV¯É®PZY²ÃÉV”
ˆk°°YY® AY®É .”É
V ”ÉÔºÉV”X¹V°Éy”SÉ®j°YÉ®PZY¯ÃÉk®šYV¯j”® AY®É.”É
$”Áɔ[°YÉ

Pf}ÃÉ DÉ@YYz~ÃÉ
,”²cÃÉ

1¯cY¢ÉJJJÉOÉ
”ɯcY®YÉj®šYV¸t”®ÉjV€ºXY®ÉPÉ¢”º·fYÉ®P\Y°ÃÉ
j®šYV¯j”ŽÉ”]ÉYœºjšƒY¯ÉY
aÉ®VP]]”XÉ|PXXY¥®ÉZf¢YÉ
Y¯j’aºq®cY¥®ÉY¯V
É
X
”ÉÔ¹Éf“ÀY®°uaP²YÉPVVjXY¯®
$”ÁÉP¢YɯcYÃÉ¥Yš”¢¯YX

;”¯P|ÉV”‰›PÃÉ

Ãɚ¤”wYV°É


ÃÉ®ºšY¥r°YXY¯É


Ãɚ©”xYV¯É
PPaY¢É
AY®É.”É
AY®É.”É

ÃÉ\”¢YƒPÉ )É'ÉPVV”¤XPVYÉÁj¯cÉ17$É
Y ”ÉÔ¾ÉXs®V¿®®É®P]Y¯ÃÉP¯ÉP}|ɚ¨YV–®¯¢ºV²k”ÉP‘Xɚ¢”a§Y®®ÉŠYY¯ja® BY®É -”É Elecnor Belco Electric Inc.

Pa
ge 335 of 361
..

Item 9 Page 335 of 361
r
&žÓΞÄÓ pªsžª’Ó¨|xx|˜xÓc˜mӉ|s¾}˜xÓjypj‡ºÓ ª}žªÓ¾žÓŠ~wÁ}˜x Ó SqºÓ Bž

,ž©Ó qªºž˜˜q‰Ó ZÓ-ž¨Óp¦Æ| –p˜ÀÓ 
1pdËÎӉ}w¾»Ó
’Ÿ¨pÓÀyc˜ÓӉhº
Ó

REG<ÓHO=(J

'žÓΞÆÓ qª}žmjc‰‰ÎÓÄ¥c¿qÓ̞¨‡Ó¨ÆŠpº TpºÓBžÓ
Ryq˜ÓÌc»Ó¾zpӉcºÀÓÅ mc¾p Ó]]]]^Ó__

Ó
]]]Ó`
g
RycÀÓ̞ª‡Ó ¨ckÀ}jpºÓcªpÓcmm«pººpmÓgÏÓΞƪÓ̞¬‡Ó¨Ä‰pº


%FIs~¨ºÀÓc}mÓ
;Ó $c¨¨}jcmqºÓ»|x—ºÓ
c˜mÓº|x—c‹ºÓ
$‰cºÁ|™xÓ


%ž’’Ƙ€jcÀ|ž˜ºÓ

%ž“¤¸»»pmÓc|ªÓc˜mÓxcºp»Ó
ÒÓ%ž˜l­qÀpÓ̞¨‡Ó

%ž˜r|˜qm º cjpÓp˜¾¶ÎÓ

%¨c˜pº¨xx|˜xÓc˜mÓyž|ºÂ|˜xÓ
[Ó(‰pjÀ¨}jcŒÓx¨žÆ˜n|˜xÓ

(—É}¨ž—’p˜Àc‰Ójž˜¾¨žºÓcšmÓ

#jjqº½˜À¨c˜jpººÀc|¨ºÓ

pº¢|¨cÀž·ÎÓ ªž¿pjÀ‚ž˜Ó
WÓ@cÀp°|c‰Óyc˜mŠ|˜xºÁžªcxpÓ

Lq’ žªc¨ÎÓyqcÀÓ
9ÓPpy|j‰pÓºcrp¾ÎÓ
XÓMªcuv|jÓjž˜À¨ž‰Ó

JƒÀqÓÊ|º„Àž«Ópºjžµ¾|˜xÓ
:ÓFÆg‰|jÓ ªžÀqjÀ|ž˜Ó
9Ó*§Ç| ’p˜ÀÓxÆc±mºÓc—mÓxªžÄ˜m}˜xÓ

Až˜|Àž¨|˜xÓp¦Æ| –p˜¿Ó
EjjÆ c¾ž™c‰Óyqc‹ÀyÓ
VÓ)”q¨xp˜jÎÓ ¨žjqmÄ«qºÓ

.‚«qÓ ´žÀpjÀ|ž›Óc˜oÓ ®pÉq˜À|ž—Ó

/Žžž¯Óc˜mÓÌc‰‰Óž p˜|˜xºÓ

0Šc–’cipӖcÀp¨|c‹Óyc˜m‰—x»ÁžªcxqÓ

J|ÀqÓ»c™|ÀcÁ|ž˜Ó
YÓ,c‰ŠÓ ªžÀpjÀ|ž˜Ó
\Ó1žÆºq‡pp |˜xÓ
7Ó >emmp«ºÓc˜mÓºjcusž‰mºÓ
8Ó@pjyc˜|jc‹Óp¦Æ}¡•p˜ÀÓ
’c}˜Áp—c—jq ¨q
ž ÓjyqjˆºÓ
ž q¨cÀ|ž˜Ó

Rp‰m|˜xÓc˜mÓjÆÀ¾}˜xÓyžÀÓ̞¨‡Ó

EJ2#Ó5CKF(%N5EBJ

Lªp˜jy
™xÓc˜mÓpÍjcÉc¾˜xÓ

?žj‡žÄQtcxžÆÀÓ

+˜q¨x}Ðpm ¨pººÆ¨|ÑqmÓp¦Æ ’p˜¾Ó

Fq¨ºž—c‰Ó ¨ž¾qjÀ|ÉqÓp¦È| ’p˜ÀÓ

Nžž¼Ó žÌq«Óc˜mÓyc˜mÓ

(pj¿«|jc‹Ó žÌpªÓ‰|˜p»Ó

EÀyq²Ó
]aaaaaaÓbÓ
c
3cÉpÓΞÆÓhpp˜Ó—º pjÀpmÓhÎÓEJ4#Ó}˜ÓÀypӑcºÀÓ¿yªqpÓÎqf¨º! Sp»Ó BžÓ UpºÓ žÓ
SpºÓDžÓ
h
Rq«qÓ¿ypºqÓ}˜º pj¾|ž˜ºÓ†—Ó³qº ž™ºqÓÀžÓjž’£
‰c|˜¾º

j 4cÉqÓΞÆÓhqp˜Ój|¿pmÓcºÓcÓ¨pºÄ‰¾ÓžrÓÃypºqÓ|œ» pjÀ|žº" 6rÓÎp»Ómqºjª|hpÓÀypÓj|¿cÀž—ºÓcmmÓcmm|À|ž˜cŠÓº{qq¿ºÓ}rӘpjpººc¹ Ó


Elecnor Belco Electric Inc.

Pa
ge 336 of 361
..

Item 9 Page 336 of 361











A'?/éE3é(9,-/H#é

  





/RZsé(u\\`³é•ÕËÌéˆuËÌ
é© éÌs`éd©º–鯴©Þu\`\é© éÏs`é `áÌé®Rq`
é`RZséJÕVZ© Ì´RZÌ©´éßs©éßvŒŒé®aµb©´–éß©´‡é©´éŒRW©´é©µé
´` \`´éË`´ÞuZ`éΩéÌs`é*© Ì´RZÌ©´éu é©µéRW©ÕÎéÍs`éZ©¤ËÌ´ÖZÌw© é©béÌs`éQ©´‡é©µéu–®´©Þ`•`¡Ô驺éRéJ×WZ©¤Ì´RZÌ©´é‰xZ` Ë`\é y¢éÌs`éJÌRÎ`é©cé*RŠud©Á uRéßs©
é Õ \`¶éËØVZ© Ì´RZÌéÌ©éÌs`é*©£Ì´RZÏ©·
é˯`ZuRŒŒãébRW´uZRÌ`ËéR \é| ËÌR‹ŒËéR鮩µÌu© é©déÌs`é
Q©µ‡é©´éu—¯³©Þ`˜` ÍéRZZ©¸\u qéÌ©é\`ÎRuŒ`\é\¹Ràu qËéZ© ÌRz¤`\éx¤éÌs`é.ºRßu qËéR \éJ¯`Zud|ZRÌu© Ë é w¤éR éR™©Ù Îéx é
`áZ`ËËé©dé© `sRˆeé©d驤`é®`ºZ` Îé©déÌs`é*© Î»RZÌ©ÉËé(RË`é){\é'š©Ø Ìé 0UséJØVZ© Ì´RZÌ©´é–ØËÌésRÞ`éR éRZÎ|Þ`éR \é Zغ´`¤ÌéŒuZ` Ë`
éR \éRŒŒé¼`²Ú}ËxÌ`é˯`ZuRÌãéZ`´Ì|duZRÌu©¤Ë
éßs` éˆuËÌ`\é
(w\\`´é˜ÖËÎé Ç©Þ~]`éÌs`éd©Œ‘©ßu qéx d«´–RÎx© éd¬ºé1'*7éJÛVZ© ÎºRZÏ©´é

 Ks`é R–`é©féÎs`éJÜVZ© ÌµRZÌ©¼$

 Ls`é̽R\`éR¤\éÌã¯`é©béß©¾‡éÏsRÌéÌs`éJÕVZ© Ì»RZÌ©´éßuŒˆé¯`»n©¿–%  <­RÌu© éèR\\´`ËËé©déJÕWZ©¤Ì´TZÌ©¹Ë鯉R[`é©géWÕËu `ËË%  JÖWZ©£ÌµRZÌ©ºËéŒuZ`¤Ë`é Õ›W`´&éR \éR äéË®`ZwRŽÌãéŒZ` Ë`Ë$ ! JÕWZ©£Ì´RZÌ©ºËé¯ÕVŒ€Zéß©¸‡ËéZ©£Ì´RZÌ©´éÀ`quËδRÎw© é Õ™W`´$éR \ " ,©’ŒRºéÞRŒØ`é©déÌs`éQ©´‡éÌsRÎéÌs`éJÕWZ© Î´RZÌ©´éßuŒ‰é®`´h©´– JÕX”ÌÎu£qé©´éËØYZ© Î´RZÎ| qé©déR å鮩ÈÎ|© é©béÌs`éQ©´‡éu¥é`áZ`ËËé©hé© `sR‰dé©dé© `é®`´Z` Ïé©déÌs`é*© Î´RZÌ©´Ëé(RË`é (u\éΩéßsuZs餩éJÕWZ© Ï´RZÌ©ÁéßRËé^`ˁq RÎ`_éu£éÌs`é©´xqu R‹é(u\éËsSŒŒé© ãéW`é®`´œuÐÌ`\éu éZRË`Ëé©bé°ØV‹|Zé`•`´r` Zãé ©´é£`Z`Ë˂Ìã
é R£\éÎs` é© ŒãéRp`´éRéb| \u qé´`\ÕZ`\éÌ©éß´uÐw qéRËéRé®ÕY‹uZéº`Z©º\é©déÌs`é*uÌãé Ë`ÌÌ| qéd©ºÌséÏs`éiRZÌËé Z© ËÌxÌÕÌu¤qéÍs`é``ºr` Zãé©´é `Z`ËËuÎãé
:déÌs`é*©£Ì´RZΩºéÞu©‹RÌ`ËéR æé©béÎs`éRV©Þ`é®´©ÞƒËw©¤ËéÌs`é*© Ì´RZÌ©´é–RãéV`éu¦éVÃ`RZséªdéÌsuËé*© ÌµRZÎéR \éÍs`é*uÏçéžRãé `á`ÅZuË`éÌs`é©®Ìw©¦
éu éuÌËé©ß¦é\uËZ´`Îu©
éÌ©é
éZR Z`éÌs„Ëé*©§Ì´RZÌé©Âé
éRËË`ËËéÎs`é*© Ì´RZΩºéRé®`¤R‹Ìãéu£éR éRœ©Õ Îé
©Ì閩´`éÎtR éÎ` é¯`´Z` Îéé


é©héÌs`éR–©Ö§Ìé©jéÌs`éËÕVZ©¤Ì´RZÌéu Þ©‰Þ`\
éR \éÏsuËé®` R‰ÎãéËsR‰“éW`é\`®©ËuÑ`\éw¦éÏs`é
dØ \é©ÕÌé©déßsuZséÌs`é±´uŸ`é*© Ì´RZÌéuËéRßR´\`\é
:déÏs`é*©¤Î½RZÌ©´édRw‰ËéÌ©é˯`ZudãéRéJÕVZ© Ì´RZÌ©Ã
é©´é|déÌs`é*©£ÌºRZÌ©´é˯`Zubu`Ë閩´`éÒsR¨é© `éJÖVZ©¦Ì´RZÌ©´éh©´éÍs`é ËR–`éÌ´R\`é©´éÌç¯`é©déQ©´‡éÌ©éV`é¯`Ê©´•`\éÝ \`´éÌs`é*© ÎºRZÌéu é`âZ`ËËé©dé© `sR‹hé©dé© `é®`´Z` Ìé©héÌs`é*© ÎÄRZΩ¼Ëé (RË`é(u\é'–©Ö Ì
éÎs` éÌs`é*© Î´RZÏ©µéRq´``ËéÌsRÏés`Ës`éuËéd؉‹ãé²ÕR‰xbu`\éÌ©é¯`Æo©´–éÌsRÌéQ©´‡és –Ë`‹ds`´Ë`Œk
éR \é
ÌsRÌés`Ës`éËsRŒŒé¯`Ê©´–éÌsRÌéQ©º‡és|ŸË`Œbs`´Ë`Œlé 9béRmÌ`´éRßRµ\é©dé*© ÌºRZÌéÌs`é*© ÎºRZÌ©»éËÜWZ© Ì´RZÏËéR ãéËÕZsé Q©´‡éÎs`é+© Î´RZÏ©´éßuŒŒéV`éËÖW†`ZÌéÓ©éÎs`éËÎRÌÖÌ©µãé¯` R‹Ìx`Ëé ,/J;6A'M9FBéE4éJP(*EDOH'*NEIJé5EH@é
9JéFCéL8/é3E=>EQ9A6éG'62é
Elecnor Belco Electric Inc.

Pa
ge 337 of 361
..

Item 9 Page 337 of 361

,
E
QFN;
Q9=Q-
"$-OQ;>$5GQFG#Q%G&96.QE#

HEQEQ6

EEAPQ
K.'Q9A+EQ

0
Q8QK96F?G9@Q 1'/Q96GFQ A
Q6QP<
Q KE'7
EEQ
9J'96Q
7 9A2G&96Q 9!Q9B*QG9Q
Q
)
6E
Q 96FDG9AQ :--A
Q.K
Q
L4
DQ 
"(EGAI$96Q

A!9C3
Q
M0
DQ


Elecnor Belco Electric Inc.

..

Item 9 Page 338 of 361
N
qeìB­¢Ô¹S]Ô­¸ìÒqS‘좭Û8ì
?
LàXÓÕuÔßÔeìS¢ëì±e¹Ó­¢ìSÓìLáX]­¢Ô¸S]Ô­¹ìy¢ì±S]eì­hìÔqeìLáX]­¢Õ¹T]Ú­¹ìvÓÕecìu¢ìÕqe쮹upu¢Sì @ucìeê]e±ÖìÔrSÔ ÔreìByÔëì›Sëì ]­¢Óe¢ÖìÕ­ìÕreì ÓàXÓÔuÔßÕu­¢ì­lìS¢®Ôre¹ì±e¹Ó®¢ìSÓìLáX]­¢Õ¸S]Ô­¹ì u¢ì T¢ëì ­iìÕreìl­‘™­èw¢p ÓuÔßSÖx­£Ó7
( Rqe¢ìÔqeìLàX]­¢Û¹S]Ô®¸ì‘uÓÔecìu¢ìÕqeìAxcìTiÔe¹ìqSçu¤pìqScìSì¹eSÓ­¬SXeì­±±­¼ÛߢxÚëìÕ­ìc­ìÓ­ìjSuÓì­¹ ¸elàÓeÓìÔ­ìeêe]àÖeìSìé¹uÕÔe¢ì]­¢Õ¹S]×ìi®¸ìØqeìÓ]­²eì­iìR­¹ŒìÓ±e]‚n†ecìu¢ìÔqeìLá[­¢ÔºS]Ù­¹ÓìXxcìS¢c SÔìÕqeì±¹x]eìÓ±e]uluecìu¢ìÔreìLßX]­¬Ô»S]Õ®¹ÓìXucìéqe¢ìÔqSÔìé¹xÖÔe¢ì]­¢Ú¹S]ÕìXSÓecìß±­¢ìÚqeìpe¢e¹S Ôe¹›Óì]­¥cxÖx­¢ÓìD¹Séu¢pÓìS¢cìL±e]xiu]SÔu­¢Óìj­¼ìÚqeìK¸­‡e]Ôì­¸ìÕreìÔe¹›Óì­iìB­¢Ô¹S]Ô­ºÓìé¹uÔÚe¢ @ucìxÓì±¹eÓe¢ÔedìÖ­ìÕqeìLáX]­¤Ô¹T]Ô­¹ìXëìÔqeìB­¢Ô¹S]Ô­¹9 ) Rqe¢ìÔreìuÓÖecìLàX]­¢Ú¹S]Ö®¹ìXe]­œeÓìu¢Ó­‘çe¢Ôì­ºìÔreìÓàXˆe]Õì­iìS¢ì­¹ce½ìi­¹ì¹euelìx¢ìXS¢ŒÎá±Ö]ë:
+! Rqe¢ìÖqeìuÓÚecìMáY]­¢Ô¹S]Ô­¾ìjTu’Óì­ºì¹eiáÓeÓìÔ­ì±eÌi­¹›ìquÓ#re¹ìÓàZ]®¢Û¹S]Ô= , Rse¢ìÔreìwÓÔecìLáX]­¬Ô¹T^Õ­¿ìkTyÓì­¸ì¹eiáÓeÓìÔ­ì›eeÖìÕqeìX­¢cìÀeµàuÁe›e¢ÔÓì­iìÛreìB­¢Ö¹S]Ô­¸ìTÓ ÓeÕìm­Ðqìy¢ìKáX‘u]ìB­¢Ö¸S]ÕìB­ceìLe]Ûu®¦ì-'&5;
. Rqe¢ìÔqeìB­¢Õ¹T]Ô­¹ìce­¢ÓÔ¹TÚeÓìÔ­ìÔqeìBxÚëìÔrTÚìÔqeì¢S›eì­jìÔreìLàX]®¢Õ¹V]Ô­¹ìéSÓìxÓÔecìSÓìÔqe ¹eÓàÔì®iìT¢ìz¢ScçeÌÔe¢Õì]“eºu]S”ìe¼¼­¹<
1 Rqe¢ìÔqeì‘uÓÔecìLáX]­¢Ô¼S]Ô­¼ìuÓ좭Ôìx]e¢Óecì±á¹ÓáS¢ÚìÔ­ìÕreìB­¬Ú¹S]Ô­¸ÓìHƒ]e¢ÓeìHSé< 2 Rqe¢ì Ôqeì BuÔëì ceÔe¹›u¢eÓì ÔqSÔì Õreì R­¹Œì ±e¸j®º›ecì XëìÕreì •uÓÚedì LàX]­¢Ô¹S]Ú­¸ì uÓì ÓáXÓÖS¢ÕuS‘ë ߢÓSÔuÓiS]Ô­ÄëìS¢c좭Õìu¢ìÓàZÓÔS¢ÔxSìS]]­¹cS¢]eìéuÕrìÔqeìD¹Séu¢pÓìS¢dìL±e]ulu]TÕ{®¢Óì­ÂìÖqSÔìÔqe LàX]®¢Ô¹T_Õ®¹ìuÓìÓáXÓÖS¢ÕuTëìce–Së|¢pì­ºìcuӸ߱Ôx¢pìÔreì±¹­p¹eÓÓì­lìÕreìR­¸:
5 Rqe¢ìÖqeìuÓÔecìLàX]®¢Õ¹S]Ô®¹ì uÓìu¢e‘upxXeìÔ®ìé­¹Œì­¢ìTì±àXx]ìé­¹Óì±¹­‰e]Ôì³ áºÓßS¢ÕìÔ­ìLe]Õy­¢
'232(ì­¹ì'422
2ì®lìÕqeìISX­ÃìB­ce:ì­¸
6 Rqe¢ìÖreìBuÔëìceÔe¹žu¢eÓìÔqSÔìÛreìxÓÔecìLßX]­¢Ö¹S]Õ­¹ìxÓ좭ÖìSìºeÓ±°¢ÓuXeì]­¢Ô¹S]Õ®¹

A
Ke¹›uÜìS¢ëìÓâX]­¢Ô¹S]ÔìÔ­ìXeì筏á¢ÔS¹uëìTÓÓup¢ecì­¹ìÚ¼T¢Óje¹ºecì­¹ìTšéìuÔìÔ­ìXeì±e¹o­¹›ecìXëìS¢ë­¢e ­Ôre¹ìÚqS¢ìÔqeì­¾upu¢UìLáX]­¢Ô¹S]Ö­ÄìuÓÔecìy¢ìÕqeì­¹upx¢Sì@ucìéuÛr­áÔìÔqeì]­¢Óe¢Õì­lìÔqeìByÔë

C JÔre¹ì ÕqS¢ì y¢ì Ôreì ´eÏ­º›S¢]eì ­lì
]rS¢peì ­¹ce¸Óì ]SàÓu¢pì ]rT¢peÓì ­¼ì ceçuSÛu­¢Óì i¼­žì Öqeì ­¹upu§ S—
B­¢Ô¹T]Ôì ÓàXeÔì­¹ìÓßZ]®¤ÔºT]ÖìS¢ëì±­ºÔu­¨ì ­iì ÔqeìR­¼Œì x¢ì eê]eÓÓì ­iì­¢eqSlì­iì ­¢eì±e¸]e¢Õì­jìÔqe B­¢Ô¹WÔ­¹ÓìASÓeì@ucì>­ã¢ÔìSÓìÚ­ìéqy^qìquÓ$re¹ì­¸xpu¢S˜ì@ycìduc좭ÚìceÓ}p¢SÔeìTìLàX]­¢Ô¹S]Õ­¹ K¹u­ÅìÔ­ìT±±¼­çSì­lìÕreìB­¢Õ¹T]Õ­¹Óì
Æf¶àeÓÝìi®¹ìSìLàX]­¢Ú¹S]Ô­¸ìÓäXÓÔxÕáÚy­¢ìÔqeìBuÔëìÓqSìpyçe쬭Úu]eìu¢ìéÇyÚu¢pìÔ­ìÖqeì uÓÖecìLßX]­¢Õ¸S]Ô­Èì­iìÔreìB­¢Ô¸S]Ô­ÌÓì¹e¶áeÓÞìÖ­ìÓåXÓÕuÔßÔeìS¢cì­jìÔreì¹eSÓ­¢ìi­¹ìÕreì¹e·æeÓÔ"ì Ote좭Ôx]eìéyìXeì ÓeÌçecìXëì]e¸Ôujuecì­¹ì¹epuÓÔe¹ecì›Su—ìÔ­ìÔqeìSÓÖ쌢­é¢ìScc¹eÓÓì­lìÕreìLàX]­¢Ö¹S]Ô­¸ì PqeìuÓÔedìLáX`®¢Ô¹S]Ô­¹ìéq­ì qSÓìXee©ìӭ좭ÚujxecìÓqSìrTçeìluçeì /
ìR­¹Žu¢pìDSëÓìéuÔqxªìér~arìÔ­ìÛ¸T¢ÓŸyÚìÔ­ìÔqeìBuÔëìé¹uÞÔe¥ì­XŠe]Ôx®«ÓìÕ­ìÛqeì ÓàZÓÔxÔáÚy­¢
ìFSx‘à¸eìÔ­ìiyeìÔreÓeìè¼ÔÖe¢ì­X‹e]Ԁ­¢ÓìÓqS™—ì]­¢ÓÔuÕàÚeìÔqg쏁ÓÔecìLßX]­¢Ô¹S]Ô­¹Óì]­¤Óe¢ÔìÔ­ìÖreìÓàXÓÔuÝßÔx­¢ ì Gjì é¹xÖÕe¢ì ­XŠe]Úu­¤Óì SÌeì iuecì Õqeì BuÚëìÓrT”—ì pyçeì ¢­Ôu]eì u¢ì é¹uÕu¢pì ­iì SÔìeSÓÔìjuçeì 0 ì R­¹Œu¤pì DSëÓì Ô­ì Ôqeì xÓ×edì
LàX]­¢Õ¼T]Ô­¸ì­jìTìqeS¹u¢pìXëìÔqeìBuÔëì­¢ìÕreìB¯¢Õ¹S]Õ­¹Óì¹e¶àeÓÔìj­¹ìÓáXÓÕuÚãԄ­¢ì QqeìB­¢Ô¼S]Ô­¹ìSÓìTì]®¢cuÚx­¢ìÔ®ìSÓÓeÑu¬pìSìb”Sx ì­lìu¢ScçeºÚe¢Ôì]e¹u]Sìe¹¼­¹ìx¢ìÚqeìyÓÕy¢pì­mìSìLà\­¢ÔºS]Õ­¹ìÓqS‘—ì éx×qy¢ìÔé­ì
*
ìR®¹Žu¢pìESëÓìSjÔe¸ìÔreìÔu¡eì­lìÖqeì@ucìDeSc‘u¢eìpuçeìèÍuÔÔe¢ì¢­Ú ]eìÔ­ìÔqeìByÕëìS¢cì_­±ueÓì­jìÓß]q좭Ôu]eì
Õ­ìX­ÕqìÔqeìLßX]®¢Ô¹S]Õ­ºìre%Óqeì]Su›ÓìÕ®ìqSçeìyÓÔedìx¢ìe¹Ì­ÉìS¢cìÔreìu¤Ôe¬cecìLßX]­©ÔÊT]Õ­Ëìér­ìqSdìXucìÔ­ìÛqeì B­¤Ô¹S]Ô­¼ì±ºy­¹ìÕ­ìÔqeìAxcìDeTcu¢e
ì
Elecnor Belco Electric Inc.

Pa
ge 339 of 361
..

Item 9 Page 339 of 361












ú úE
ú
ú"#?
úÛ
@
ú
úú ú f
úƒ

ú
à

ú
i\ ˜

úú

Aúú4
ú
5 >
ú
.ú2úµ

²ú

úú5
ú3ú
úú
×I
úJ

zú !
ú
 ŽúŠ
l] :ú
ú

Üúú;^újúúN™
OVú


ú0$¡¬ú<ú

úú
úK
úú

úú

$úKúí
ú ú 
'

¶

úg|
qd „·úîú ó
ú
úï

úÓúð
ͧ$Rúú³
ú Îúú



+ú
ˆ}
7 ‡ú
ú


úú
ú 



úúç ú

ú
*ú
¸
ú*úú
ú

ú


úú¨
ô

úúúL
ú
ú
ã
úú
úú
úÃ
úú

úúÉ$
ú=ú


+
!

 ;‹ú
r
:ú
ú3
úú,_ú7úúP!
Q*ú


ú
õ
Ïú
úC?
ú
8ú
‘h~
(
% 9
v
S£
% ’
úú

5Eú
ú
w
)
øú ú@
#
ú(ú

¤Ä
Txú
)

% “
úú
ú 
8
)


% .
ú
Ê1

y
(—
ú
Åú


úú



äU
s
-úú


½ú
±
ú
úú

èúú
 ¹
ú
'Cú

4
ú"
úºúú
÷úú
Á
ú
<

F2
{ú !
ú ”ú


t
-úú


ÔIú
°âúË­
úú

Jú
ú 

úØB
ú$
úÆ
[


ú


+
•#

ú¥1ú


eú
!
ú ,FŒú
u` -
ú.

#
úM

ú


Húú

Báú ú
ú

úAú
L
ú
®ú©



9
ú ¾æú okåéú ú0ú

š›œú՝ªžù êÖ Ÿ¦ Ý
aWúm–npúb
€ú"ú
ú
ú
1

ú¢úú
ö


3
6ú0


ú'ñ#¯¿>HÀ
Xú
ú Ç
ú

ú
ú
'Ù

ú
úì
ú
Ðú

Â

2ú ú
ú

YúúúÚ4ú

6ú
ú
ú´ò

ú
ú


ú"ú
ú
"Ì
úúM


ú
ú
ú=»

ú
,
ú

D/&ÑGÞú‚/D&Gú†È/&ëß¼&Zú‰Ò«cú
Elecnor Belco Electric Inc.

Pa
ge 340 of 361
..

Item 9 Page 340 of 361












F3GŽĚD‘Ě3•C’Dž—C3Ě
E¥˜H§Ě
E“ĚŸ®ŰÄ8ê¯8ÀNëõĚ
>ĚĚ
>Ě
!!!!!!!Ěv-{y-A € -|¨ûĆ-ÑĚA©
ª«¬­Ě Ě)ĚÁ1
Ě

kĚ

ĚĚ
‰
}'
Ě
w
Ě"Ě
 ¦N¶.̚þ.
ċÕÂ.

UČĚ iHZ/Ě
Ě
ÍÎ
ĚLĚĚ



ÿ
Ě`
Ě

aĚb›fĚ

Ě

Ěü

ĚÅ?Ě
 â.·ìö8̌ÆQ¸÷Ě
QǹčĀÖºlĚ~Ěí»sĚ Ěj
ā ÏĂĚ
ÈÃĚc
<

hd?Ě

Ě
ĚI Ě
ĚĚ"
Ě
Ě4ĉ
ĚĚ% Ě
ĚĚ



Ě
Ě[(Ě¡ăÐ"JĚ Ě
”

Ě
WĚ
̜*
0Ě
5Ě
ãr

Ě
KĚ mĚ"Ĕ

9
̙
'Ě2z2‚,,,,$Ě
2t ¢
Ě×Ě% Ě Ě
îBĚĎ
\Ě[
ĚĚ Ě
Ě
$Ě
ĚĚĚ
Ě
ĚØïĚĚŠ
ƒu FĚgĚ%Ě Ě
ĚĚ Ě
Ě +=Ě
:ĚI
ęĚ

Ě
Ě

#Ě

O
Ě


+
Ě




ÙĘßĚ
Ě




Ě
Ě0Ě
Ě 

$

'
£(Ě

øĚ7Ě
nĚ  Ê

Ě
Ě "

Ě 
Ě 
– ď@Ě Ě

*Ě¼

Ě
Ě

# &Ě
76


ĚĚ
Ě
 ĚĚ5Ě
ĚĚĚ
Ě
 +Ě
Ě²ÝKĚ
Ě


Ěx:Ě³ Ě
Ě: Ě
Ě
_
]
Ě%7Ě

Ě
Ě
#W

9Ě
Ě
MĚ°

Ě/ÉĚ
Ě
Ě Ě
ĚO_Ě
Ě
&
Ě

ËĚùĚ

Ě/èĚ




eĚ

Ě
;ĚĚ
;ÞĚ
5Ě

Ě$Ě ĚĚ
Ě0
Ě
Ě ð
̱

Ě
à1
Ě
Ě

PĚ
ĚÒĚ\
Ě

Ě4
oĚ
Ě
Ě
Ě
<
̍ Ě
Ěñ

Ě*Ě òĚ#Ě6Ě



Ě

$
†'
¤
ĚĚ


Ě(Ě
Ě Ě+
ĚTĚ


ĐĚ
ĚJ
/*
)
Ě
Ě
ĕĚ
Ě)RĚĚ&Ě
&

Ě
Ě% Ě
ĚP
Ě½)
Ě
á

Ě
Ěđ
ĚĚ
Ě
ĚZ
Ě
Ě4
VĚ
XĚ

Ě
Ě

Ě%@

Ě

ĚĚ"Ě Ě6Ě



Ě
#
ĒB
‡' GĚ(Ě
=;

ĄĚĚ
]Ě


Ě
Ě"Ě

Ě
Ě ´¿


Ě
Ěé äĚ1

å Ě
ć
^
Ě

Ě 

 
ĊĚ 
Ě 
S
Ě Ě
XĚ
*
VĚ

Ě

(Ě


Ě
YĚ
&óĚ Ě 


Ě



+  Ě
ĚĚ
Ě
Ě 1



Ě
Ě0)SĚ^
ýæpĚ

Ú
Ě Ěô
Ě
9

Ě

ĚÛĚ 


 
Y
qĚ
Ě

¾ÓĚ
&<Ě
Ě Ėµ


Ě
ĚTąÜĚė

RĚL
Ě  #Ě
Ě
Ě
#
ē
Ě



Ě
Ě
Ě
ĚM
ç  Ě
Ě
Ě


=Ě Ě

Ě
Ě

Ě

ÔĚ Ě

 
Ĉ
$













Elecnor Belco Electric Inc.

Pa
ge 341 of 361
..

Item 9 Page 341 of 361

'P8ˆ ‰PE pjˆw8<‰pw CVC jpŠ CTwE<‰^œ px UjCVwE<ˆ_œ ‡•:eT‹ ˆPE pjˆw8<ˆpw‡ VD tyT<E pz 8jœ :wE8]Cpšj ˆPEwEpI  pz ‰PE  <pjˆEj‰‡ ŒPEwEpJ  pz CT™•_OE  ViJp{f8ˆWpj  p€ C88 wE^8ˆT™E ŽPE|Ep  ˆp 8jœ <pztp}8ˆTpj u8zˆjEw‡PTv <pgt8j 8‡‡p<V8‰[pj pwO8jVž8‰Tpj :TC CEtp‡V‰p|œ pw ˆp 8jœ hEf:E~ pw 8OElˆ ‰QEzEpJ pw ˆp 8jœ VlCT˜VC”8` pw Ozp•t pJ VjDV™TC•8a‡  E›<Etˆ ‰p ˆQE Vˆœ pK (Ezjpj pw ‰p 8jœ tEz‡pk p tE{‡pl‡ šPp Q8™E t8wˆlE€‡QWv pw p‰PE NVj8j<V8^ VjˆEwE‡ˆ šTR ‡8VC
pj‰w8<Špw Vl QV‡PE‚ :–‡VlE‡‡

! CE<_8wE •lCE€ vEl8_ˆœ pJ tEw\•ƒœ •lCEw ˆPE ^9š‡ pJ ‰PF &‰8‰E pL 8^XMpzlV8 ˆQ8ˆ ‰PE JpwEOpWlO T‡ Šƒ—E 8jC <pwyE<

8EC
‘
PV‡Ÿ C8œ pJ ++
$)’=*q;*G*„** * ++, 8‰ -../0  >1YS2m3 44456++ 
 ++ 7 #plˆPE8w  Vˆœ  &Š8‰E
dH?nr
Hb@s  bHA“†ZA  "oB

pjˆw8<‰pw %cE8‡E %wVjˆ



 


Elecnor Belco Electric Inc.

Pa
ge 342 of 361
..

Item 9 Page 342 of 361
4ā,""'H
ā#
´'
ā
£$·r
wā'ā
<(
āQTā9<¬­ā
9$Ÿ®āU–#
ā’(¤ā
"ā
;—ā,""‘(āSW
ā
W,S¯ā³4
ā

:°“
 š¥ā-#U4āV˜PāN›Œā”ª9
‚ā
œIā¿
ā

.
ās$Î

ā

Bā
āe+ā 
0


ā [
Ü3ā

ó5āô!āā  ā

ā
_»&ā )

ā

āÀ7
ā
Ìà>%ā
ý


ā

āf

ā(
D?


gāā


āO .ā"
Ô
ā ā

ā
Xā"

Kā #ā

ā
@āā
µ
&Cāth
ixā
ì ā!
ā
í
ā

ā

ā5âā
āåÍ

3āā
Ò)ā
ā%
~

@ā÷

Ýā2†ˆ+ā

 îā ā

ā

ā

Eāā

āā

ā
CE
qā
 ā=ø!ā

ā
Āā

ā7) ā6

āï
āuA
)ù Â6[ā
āðā
Õ
ā

ā



ā ā
*ā?`d
ā
6 b


_+ā!āYā]

ā*%āā1

ā#

ā(
D&


Jā
#1-Q
(CI/AD,Q
Ö
ā5ā

ā
ã]/ā
%4995GQ$AO-CHQ%(IGA=Q!ACI1-(GJ
Q
>+Q
#F

ā.
pā¦

ā2$
+ā
2.
+ā





Q

ā
(D6-Q
A.-CQ


ā.
`8ā

ā


Q7)-CIPQ"KE--JQJ2Q.9AACQ !-OQ&AD8Q !'Q 
Q
 
ā




*
/!
ā

Fā










Hā

ā

Aā

ā ¸aā

ā
;(C6-3A.-COLO+A+A;Q
^Ê%ā 
ā



ā
/

þ
ā×
&ā

%'! !
'!' '
' "

'

&'
#
'$

'
"ā±ā
0
āj-%%ā$7
zkāG ā,
ā"


@½3lām-

Cā'
è
{nāā
)āa
0
ƒā

(FI0AD,Q
>GMC(=+-QAQA.QJ2-Q 5,O-GJQ
(DI0AC,Q7C-Q
=GND(>+-QA<B(>PQ


&
Ïā•

ā ā
"-?I7=-:Q
>GMF(@+-QA;B(>PQ
-FB
8ā
Øæ
ā¡
A>ā

þā-*%ā$


ā$
ÿ|āÄ=ā&
é&
ā
N
ā«Bā

ËÓ
āR
cā
!AJQBB:5+(*:-Q
$*)dÅāRÆÐā
¹§;ā;ā
 (
'‰ā


āGÞ

ā(
D

Ù
oā¶™#,#TāMā5ā1

ā
Xāā

āb
ê



āāc.ā
©úßā¢Ç)õā#

Jºā
¨
²āVā 4ā<ā Ž'-: :ā„āQP Šā Yā

ā

ā=ò
ā
ā

ā
ñ
ā
āāÁ
ā
ā¼āāZÑā

á
/ā
!ā!
āžû0

ā'
ëü>


1}ā6
āÈā\
ā
E
āZ*āā^āö!
ā
ā

\ā

āLM€ ā
Ú
ā*
Iā
!
ā
ÉāÛ‹ā2Lyā


ā

ā

8āO ā0
ç?7
3ā āv‡+ā
 ā!
ā
&
āā1

ā
eā%

1ā
/ä

ā
,
Kā
Elecnor Belco Electric Inc.

Pa
ge 343 of 361
..

Item 9 Page 343 of 361




 



9 ąąi
yą
ž>\^ą/ąM
ą$F

ą
i

)ą­ą¥\–¡?ą
6>š>7 ^?>I??˜™
º
+

Ką ƒÌWĀ3Ô
~3DŽ3Öą
6:(,!?? %*
=(9?0#?3;
+?22069;.)9>?-2+0>-!.9?
?
0/8!'4!'
:)0/?05-??
6:(,!??
!/ 06?*8:?<!8:)0//
*7!?07-8?
?
?
?
±'ą|


ą
-ą+ąv! 
ą
ą
&
ą9

†ąā

-ąU4
ą
ąÉą
V+
ą#ą



F
ą9
ą+
GąZą4
ą
F

ą#C
ąB
ą}!#Dą
[
ą &,
ą

V 


ąą„
-•
ą cą5SÚ
'ą
"ąpôą
3ąA
ą



ąZëÍ

ą

ąą

âą

(ąE"
ą ąą"
ą/

ąą9Byą
ąC
ąæ 4ą
ą
"
ą¹

ą/

ą#Cą"
ąsąV.ą
5ą!'
ą -|
ą M5C

)ą5ą}
ą
öÕ2ą
×
ą
ąÒą Ûą !
&

ą Eą

óZą 
2
ą

'ą%%
.ą ą(
ą
T
ą 
Dą 
ą



ą 
ą ą

 ~ì

ą t
ą +
54
ą ą
"
W(ą (
)ą (
wu)ą -Hą '#
ą 
uHą


ú)ą
S
Gą[ąąqą $
)ą
ăąo

ą

ą
ą
ą Wą
ąU2ą
ą(‚

ąpą
ą



ą!ą





ą! 

ą
ą2ąą

ą
!+v
&
ÿ)ą!
ą
&
ą
ą

ą
ą
ą Üą2ą



ąUą
<
ą
ąò(
ąT

ą
ø
ą
ąą 
Gą

ąą 3(Hą &

ą


ą
B ès

ą
ą
#


‘ą
N
ą{ą¬¦ą f1;0X=Yą
«
;
1n=ą®1ÎÊý€Ý0‰ą²í
0’ą
c'
ąP

TKą
@Q8
@Š@aœ‹¢Ÿ_—ą *****ąRą
$



ûLą
J

]
›8ą©1ÇÏõüąjÄ
Ą
9§ą
dØ Þxïą /A
Lą
dQªą*
*½ą
¼
ą
@
J
`
J
8  




³
=ÙXą»z
Xrą ¯Ią















ãĂðîr
¨;1;0x=€“n=é
‡-
-A<ˆą
P[ągeąNÈ

ą6
ą/ tą/


ąNS
7ąQ]Œ8_£¤a
`8ą:::::ą  ą
·
ê#ą$

ą6ßBą
Ñ



7ą
h<,.
ą4A,ą%<,
wą
ą%%
ą
&
ą
67ąoą3{
ą'
ą
ù
Ë
ą5
ą 
ñąF

Lą
f1;0þYà0ÅçąjzYäą
¸"
ąƒ
qą, Eą.ąOhPgOµb´ą
ąąÓ
ą..E%ą,÷ą
.ą'”ą O 
&
ą
6
4
ą%"
åąÆą"#ą7Ką
$Ð%I$ D¾ką $¿ À ą$
2lką °

lÁą ¶#‚
ąb

ąÂÃą
eá!+<,
Rmą M

ąRmą
Elecnor Belco Electric Inc.

Pa
ge 345 of 364
Elecnor Belco Electric Inc.
e 344 of 361
..

Item 9 Page 344 of 361
/œ‘sO@²É:‘œwW’@OÉ7³cxcÈ;³e‘‰É’œ
É
É
4`d®ÉZ•ž
Ée®É³’É?OÉf‰@y»JOJÉe‰É;yyÉ?eJÉJ’@¼†O‰³®ÉW–¢É—œ’tOB²®Ég‰Á’yÂe‰]Éz;?‘ŸÉ‘œÉ®OœÁe@O®ÉÂ;{»OJÉ;²É
ɒœÉ ’œO
É
'‰¯³¢»@³e’Š®É /|O;®OÉhŠJeF;³PɳaPÉu‘?ɳe³~P°@z;®®eWeA;³e‘‰®É³‘É?PÉ ½®PKÉe‰É³aPɘPœY’œ‡;‹BPɒWɳ`i®ÉB’‰³ ;B³É®`’¾}JÉe³É?PÉ;Ã;¡JPJɳ“Ƀ»¢ÉWe¢

É /yP;®PÉ
e‹Je@;²Oɳ`Oɉ¿†?OœÉ‘WÉO
—z’ÆOO®Ée‰ÉO;@`Év’?É@y;®®jWe@;³e’ŠÉ;®ÉÃOƒ„É;®É²`Oɉ»
?O£É‘WɊOÃÉ bj¤O®ÉeWÉ;ŠÆÉ;®É;É£O®»y³É‘Wɳ`e®É@’Š³¥;@³ É
.;
OɑWÉ ’
—;ŠÆÉ"~QCŒ”¦ÉQ~C”É"~QC´¦kCÉ (D
É
-‘?É6e³zO® z;®®eZj@;³e’‰É
%‚VG·©pHq>É

™šªUŽ¸rDVÉ

«OÉ;‰ÆÉ@½¡œO‰³ÉP‡—y•ÆPP®É’¡É ›’³P‰³e;yɉPÃÉ`j¡O®É9O­Š‘‰É¬O®eJO‰¹®É ,WÉ®’É`’ÃÉ

;ŠÆÉ
/œ‘tO@²É5¦<\kCÉ2l^Ž<É)ŽLmC<µl”Ž±É8™_¦<LQÉ<ŽMÉ0€<CQˆQŽµÉ”XÉ2”~<§ 0”ÄR¦SL
3™QQNÉ3n^±É&3*1É!ÇE€TÉÉ
#®³j‡;³OJɉÀ
?P¢É’YÉPÅe®³e‰]É®³;[Wɳ’É?OÉP
—y’ÆOJÉe‰É $®³e
;³OJɉ»‡?OÉ’WɉOÃÉ`eœO®É³’É?OÉO‡—y’ÆOJÉeŠÉ
³`e®ÉF;®®eWeF;³e’ŠÉgWÉ;Ã;¨JOJɳ`OÉ@‘Š³œ;IÉ ³`e®É@y;®®oWe@=³e‘‰É+ZÉ;Ã;¢JOJɶ`OÉF’Š³œ;@ºÉ É

É


Elecnor Belco Electric Inc.

..

Item 9 Page 345 of 361















46@(40*©
1DzQ©†T©†zŒD~¦© sPG‡©PsGˆ©
sPG‘cG©"€G
7š†qQJ¡©=CZZdG©:e]€Ct©#KfHCžg‡€›©A^CMR©C‚L©8tCIR{R€Ÿ©‰U©:‡uC8‰¤P’PM ;PPN©;h]ƒ›©
;$8©§GxP©©
†|ŽvQ i†~©†V© ¡bjœ©W†“z©kœ©57>%52- © ~¦©l„V‹”zD¡k†~©œ¢ŒwlQO©F¨©£Q~O†•œ©iœ©V†”©–QŽ†–¡i~_©Œ¢—Ž†œQœ©†~w¨©D~O©¥ivw©~†¡©FQ©WDJ¡†–QO© l~¡†©¡bQ© D¥D–O©†W©D~¦©J†~¡—DJ¡©
%~œ¡”¢J¡m†~œ©7wQDœQ©m~OlJD¡Q©¡bQ©~¢|FQ–©†W©Q|Žv†¦QQœ©i~©QDJb©)†F©wDœœmWlJD¡l†~©FQw†„`n~`©¡†©¡bQ©W‹ww†¥l~`©`—†¢Œœ© Bbm¡Q© X—lJD
|Q—lJD~© lœŒD~mJ© œlD

7DJlWlJ© 3D¡l£Q© –}Q~lD~© .DwQ©

~†¡©†W© lœŽD~mJ©
~†¡©†W©!iœŒD~mJ© &œvD~OQ—© |Q—lJD~© †—l_m~© †—i_l~©





5\lJkDwœ
©
/D~D`Q–œ©
7—†VQœœo†~Dwœ©
>QJb~mJpD~ϩ
5W[mJQ
wQ–lJD©'©
<rlyvQO©—DW¡©B†–rQ—œ©
5ŒQ–D¡†—œ©

œQ|kœrlvvQO©
+DF†—Q˜œ©
<Q—£mJQ©B†–rQ™œ©
?5>,©

QzDwQ©
Elecnor Belco Electric Inc.

..

Item 9 Page 346 of 361
















¿¨L
ìZ;Ĕ3;Ĕ°Ĕ™Ć¢J&¦úĔ[2F†Ĕ5ĔŽÙa„F‡_Ĕ
)


&*
*
#
%*
%'*"*(" '$'"$* 

*!*"!
* $&**
€ĔĔíK·Ĕ r.Ĕ toszĔ Ú'=Ĕ \ÛĔć"B'8'î`Ĕ>MQ ĔĔ"
Ĕ8ĔæĈ"N
Ĕ>,Ĕ4ä9
<Ĕ-UTĔ"
ĔR



Ĕ>*Ĕ*
Ĕš
Ĕ
ď8ĔĔ ‹Ü
ĉ Ĕ–

åĔÝĔ4¯T
ĔĔ"©ĔÞĔĊ£

ĔIïËĔ
9
dĔ‘

Ĕ


ðĔĔ*ąçûmÕeªñCK¡f
áĐD•UÍ4BIâ,n‚Q'=ē —

ÀüÁg¸ý-ÎhĔ+
ĔN
! Ĕ

#
%ĔÏ Ĕđ
´Ĕò

ó!ÂĔ±Ĕ ÑĔ
þ
Ĕ
Ĕ

<Ĕ#Ĕ$ 
Ĕ,Ĕ$É

ĔĔ
Ĕ#
Ĕ7

<
Ĕċ %ĔĔ
Č
Ĕ¹Ĕ%
 %Ĕ
µ
ßĔĔÖ9:

ĔMč
ºĎĔ*
Ĕ 
Ĕ(Ĕ»«Ĕ$ôʬ
ĄiĔ
ŒĔ

5

Ĕ
+ĔžÒ
Ĕw}.ĔH

Ĕu|C/0ĔĔÿ
Ĕ ã

Ĕ(Ĕ‰


õ Ĕ˜­
Ð.Ĕ
Ĕ›

Ĕx0yĔĔ7
Ĕ’¤

Ĕ :
ĀĔ 

ĔĔ+
ĔH
ĔĔ  Ã@Ĕ
Ĕ!O
#56
AĔ¼
Ĕ Ó
Ĕ(OÄĔĔ
ë

ĔĔ

Ĕb
§ĔĔÔ Ĕ$
ù-Ĕ,Ĕ-#
ĔĔ×ö
Ĕ+!Ĕ
Ĕ! Ĕ²Ĕ
Ĕ$
÷

=Ĕ]j{Y?Ĕ
Ĕ
ĔŸ ĔG
ĔG
ĔĔX/pAĔ^
7®Ē
Ĕ ÅĔ¶

?kĔ
³½
ā

è%Ĕ Ă¾
Ĕ
SPĔ 
SĔÆă

:
Ĕ
RPlĔ
‰))«žĨ©¬¨)°Ĩ£²¢|†­Ĩ



+ģºL5ėDğĐĨ¤
ÀĨXĨŸĈ6Ü
JĨ ¡ÔKĨ”÷ĨYĨ„ÄS¾PĂĨ +T»ăE5Ĩ ªÁĕD-5G-ĨĉĨ ?LĠEĨ  Ý2-ĨAU
½đĨ ‚}‡Ĩ ƒsˆĨ?.ęĨ¥Ĥ
CÂĨ =JýĥĨ“ĘćSĨ*FPĢĨ =
ĦþĨ ~¿Ĩ•.øĨ Z´›A[Ĩ
+U¼ČġFĞĨ
š*Ĩ*ÊĨ¦TCĨ


'/

`Ĩ
Ĩ
§Ĩ

 

'
aĨĜ
Ĩ


@â\Ĩ,
Ĩ


(
:Ĩ Ĩ


@Þ]Ĩ, Ĩ


(79Ĩĝ
.Ĩ

€!67^Ĩ,6 Ĩ


(7:Ĩ Ĩ


'!
9Ĩ  Ĩ
2È;àĔc )

~Ĕ 3
&
Ĕ1)

WĔŠÇ 6@ĔƒéWĔ231ˆĔVD1VøLĔ“&JÌ&)
Ĕ
Ĩ eĨ
ß!Ĩ
Ĩ

ä
Ĩ
Ĩ
ûĨ
Ĩ

Ĩ

ñ‘µĨ
Ĩ$Ĩ ãĨ
¶Ė3Ĩ
Ĩ
Ĩ
H0!MĨ
ĨB¯
"Ĩ


ÕčĨ
Ĩ

ùāĨ

NJ1$Ĩ


÷Q2Ĩ
ĨVfĨ
808Ĩ
Ĩ
<
è
Ĩ
Ĩ

/ÌOĨ
ĨB
r
ÖĎĨ
GĨò’&Ĩ$Ĩ

¹3Ĩ
ĨugĨ
–0—%Ĩ
Ĩ®

"éĨ
tê;Éó×Ĩ
Ĩ

/#ÍÿĨ
>zĄÅ‹$Ĩ

 R4Ĩ

Ĩ
Úôõ%Ĩ
Ĩ


Ĩ

ëb
ĒåNĨ
Ĩ

Ĩ
"Ĩ
ĊŒÎ&
Ĩ




Ĩ
Hħh
Ĩ
Ĩ
úáĨ

c
سĨ


ÏÐ%Ĩ
ĨċĨ&ĨÙĨ

 R4Ĩ
ďwi
Ûö
Ĩ


#æĨ 
;
ÑĨ
Ĩ

ìÒMĨ
{Ĩ¸íĨŽē
ĨĀĨ

 Q2Ĩ
vjĨ
q
Ĩ


îçĨ
ĨW
Iï%KĨ
Ĩ
<ÈIÓNĨ
>ĨÆĨ1
àĨ

 Ĕ3Ĩ
yxkĨ
˜±œpąĨ


"#ĆĨ
ĨdĨü#OĨ
ĨĚě
lm™_Ĩ
Ëð&
noĨ

 14Ĩ 
” )6Ĕ/Ĕ(ĔEĔ
œ
ê
Ø¥ĔvqE0Ĕ
Elecnor Belco Electric Inc.

Pa
ge 347 of 361
..

Item 9 Page 347 of 361


#

#


!
#
!
# 
 # 
#
UDEI€œ%^‡œoJœ+:?oeˆv/@‰owœ
œ0fDœ&of
œ

$"& & 
!&!"&
&#
""
&

&
&



%&"&&
"gœ 1AAoxF2hBIœ˜V‰Qœ .W‰`Iœœ ,IB‰Voiœ
œ oKœ‰RIœ
oGIœoLœ IGIy3aœ *IM‘`3‰Woj‚œ‰SIœXGGIzœƒQ4bcœ`YƒŠœ5``œƒ’;Bog‹y6?‰o‚œ˜Qoœ qyo—ZHIHœ7œu“o‰Iœoyœ<WHœ;”‰œ "
#
#
# ‰oœ q3y‹WBWr3‰Iœ3ƒœ3œ „•;Bog‰y3B‰oyœ okœ ŒTW
œ q{pB œ
¢-œ-1–¯Œº1·¬-šÂŒµÄ³˜Ÿ1Œ
 
   






 



½;TĤ+aÌÐ:_ĸŒN#Œ=Œ°ij#ú
Œ ±æ
5ŒM5Œ=Œž9Õľ`

Œ 2;Î
dRÑŒ »ĹÒ×ĥs
ØŒ⌠IABŇRÓŒ ²û5AB*Œ0ŊÏŒ LH Œ L™¡ŒIÙŁŒNŋSVŒ EŌ\Œ HçÖŒMŒ hƪ0iŒ 2ōTİÔdጠOŒ O䌶ŎĚSaŒ


"éʼn,Œ4ńÚŒ
0•´rŒ
"ê jŒPĂ
Œ

Jëf>ŒeÜŒ

œ
K
+ nŒ2eĄÝŒ


Ký ,Œ+4ć$Œ


›c oŒ¿:ÉcÞŒ


Jñ: >Œ4Ņߌ


"òfqŒPVŒ



"
+ ,ŒņQĉUŒ

[†Ž[=–‰[olœ '|\N]m3`œ #oC3`œPIn?›œ!W`Iœ
os›œ
$œ ™
š3}Dœ (3C_8OIœ
Eį;#ĀŒ¦Ŀ99Œ¼àıX`ňŒ
  

ŒC
ċČö]Œ
Œuèč
÷6Œ
Œv

ĎZ6Œ
!
.þ
Œ

ÇĽ8Œ
“¾āŒ«Ã¨©¸ĦŒ
”Œ

ď%'Œ
Œ<
?
%Đđ6Œ
Œ

&
Œ
G$£)
Œ

ÛÈ)*Œ
őwŒŽxħŒ
<C
[
(Œ

tüå'Œ
Œ

ěkĨŒ
F

ă/
ĺğ

Œ
 Q8Œ
ŒglŒĜ@y@ĩŒ
ŒłŃm­
ĴŒ
†Å7ĻŐ&z'Œ
Œ
ġ%'Œ
!W_ã¤
7Ġ
Œ
 $͌
g{Œŀ(Œ
DŒ
ìąIJ(Œ
ŒĆ¹ę‹ĖZ®|ĵŒ
}


íĶŒ
—UŒ¥)Œî\Œ





D3Ģ
&ï
Œ

ø
ŏ
Œ
Œ
Œ
YĪŒ
FW
ŒŒ/ė
ĘŒ§īŒ



’~Œ
ĝp
Œ
3
Ēē
Œ
Œ ðY
ÿĬŒ


[ĭŒ
!
ŒŒ/bŒ

Œ
 $Êb8Œ



ģ&Ĕ
]Œ
€‡ˆ‚(Œ
Àƒ

ù
ĕX
Œ
!
ŒŒ.óŒô
Œ

#ļ*Œ
Œ‘„Œ‰ŠŒĮŒ
Œ3
õ
Œ
ŒÁ
?

Ĉ^Œ
Œ

Ċ%ķŒ
G
ŒŒ.7Ğ^Œ

Ë)*Œ
)9PIœœoLœ
-ItId>~œ

œ
Elecnor Belco Electric Inc.

..

Item 9 Page 348 of 361
I’h`‡¬3››€›`Žhq¬P—’hqo¡—q›¬L`¡`‡¬ ;¥~d¬'C¬
T`Œ“ˆq¬5o¬
Vr¬eƒppr˜¬




 





<‹ri‘˜¬6r‰n‘¬<‰riž˜ƒi ¬Ei¬ ”˜‘”‘œrp¬œ¢ei‘Ÿ˜aiž‘˜¬
XXXXXXXXXXXXYXZ[[\Y¬_¬r˜re©¬ir˜žƒwrœ¬žaž¬r¬aœ«
¬ aœ¬‘ž¬]^¬
¬”a˜žƒiƒ”ažrp¬ƒ¬
a¬”˜r£‚‘¢œ¬i‘ž˜aiž¬‘˜¬œ¢ei‘ž˜aiž¬œ¢f†riž¬ž‘¬žr¬r•¢aŠ¬‘””‘™Ÿ¢ƒ ¬jŠa¢œrœ ¬aœ¬˜r•¢ƒ˜rp¬e©¬=¦ri¢žƒ£r¬N˜pr˜œ¬
0(+
¬!!"")
¬‘˜¬
""(*,¬ap¬žaž¬¤r˜r¬˜r–¢ƒ˜rp¬r¬aœ¬w‰rp¬¤ƒž¬žr¬H‘ƒž¬Rr”‘˜žƒ{¬7‘ƒžžrr ¬žr¬:ƒ˜riž‘˜¬‘s¬žr¬Ovir¬‘s¬?rpr˜a‰¬
8‘ž˜aiž¬7‘”Šƒair¬a¬@rpr˜aŠ¬B‘£ršrž¬i‘ž˜akžƒ{¬‘˜¬apƒƒœžr˜ƒ{¬a{ri©¬‘˜¬žr¬y˜r˜¬Q˜rœƒpržœ¬7‘ƒžžrr¬‘¬ =•¢a‰¬=”‰‘©rž¬N””‘˜ž¢ƒŸ©¬a‰‰¬˜r”‘˜žœ¬p¢r¬¢pr˜¬žr¬a””‰ƒiae‰r¬w‰‰ƒ{¬˜r–¢ƒ˜rržœ¬ M’q2¬ Wr¬ae‘£r¬ir˜žƒxiažƒ‘¬ƒœ¬˜r•¢ƒ˜rp¬e©¬žr¬=•¢a‰¬=”Š‘©rž¬N””‘˜ž¢ƒž©¬Rr{¢‰ažƒ‘œ¬‘s¬žr¬Uri˜rža™©¬‘s¬Jae‘˜¬*"¬ 9AS¬,
‰.e¬F¬ap¬¢œž¬er¬œ¢eƒžžrp¬e©¬eƒppr˜œ¬ap¬”˜‘”‘œrp¬œ¢ei‘ž˜aiž‘˜œ¬‘‰©¬ƒ¬i‘rižƒ‘¬¤ƒž¬ l‘ž˜aižœ¬ap¬œ¢ei‘ž˜aižœ¬¤ƒi¬a˜r¬œ¢griž¬ž‘¬žr¬r•¢a‰¬‘””‘™ž¢ƒž©¬iŠa¢œr¬ 7‘ž˜aižœ¬ap¬œ¢ei‘ž˜aižœ¬¤ƒi¬a˜r¬ r§r”ž¬z‘¬žr¬r•¢a‰¬‘””‘˜ž¢ƒŸ©¬i‰a¢œr¬br¬œrž¬y ˜ž¬ƒ¬)#¬7?R¬, &+¬ Brr˜a‰‰©¬‘‰©¬i‘ž˜aižœ¬‘˜¬œ¢ei‘ž˜aižœ¬
‘s¬
"

¬‘˜¬¢pr˜¬a˜r¬r¨r”ž¬
7¢˜˜rž‰©
¬Užapcp¬@‘˜¬"

¬==NF¬ƒœ¬žr¬‘‰©¬˜r”‘˜ž¬˜r–¢ƒ˜rp¬e©¬žr¬>¨ri¢žƒ£r¬N˜pr˜œ¬‘˜¬žrƒ˜¬ƒ”‰rržƒ{¬ ˜r{¢‰ažƒ‘œ¬
Q˜‘”‘œrp¬”˜ƒr¬i‘ž˜aiž‘˜œ¬ap¬œ¢ei‘ž˜aiž‘˜œ¬¤‘¬a£r¬”a˜žƒiƒ”ažrp¬ƒ¬a¬”˜r£ƒ‘¢œ¬i‘ž˜aiž¬‘˜¬œ¢ei‘ž˜aiž¬œ¢e riž¬ž‘¬
žr¬=¨ri¢žƒ£r¬N˜pr˜œ¬ap¬a£r¬‘ž¬w‰rp¬žr¬˜r–¢ƒ˜rp¬˜r”‘˜žœ¬œ‘¢‰p¬‘žr¬žaž¬)¬E¬7?R¬, F¬.e¬E¬”˜r£ržœ¬žr¬
a¤a˜p¬‘s¬i‘ž˜aižœ¬ap¬œ¢ei‘ž˜aižœ¬¢‰rœœ¬œ¢i¬i‘Ÿ˜aiž‘˜¬œ¢eƒžœ¬a¬˜r”‘˜ž¬i‘£r˜ƒ|¬žr¬pr‰ƒ•¢rž¬”r˜ƒ‘p¬‘˜¬œ¢i¬ ‘žr˜¬”r˜ƒ‘p¬œ”riƒwrp¬e©¬žr¬?rpr˜a‰¬Dƒ{¤a©¬4pƒƒœŸ˜ažƒ‘¬‘˜¬e©¬žr¬:ƒ˜riž‘˜¬Nu„mr¬‘s?rpr˜a‰¬7‘ž˜aiž¬ 9‘”‰ƒair¬ U¬:r”a˜Ÿrž¬‘s¬Kae‘˜
¬
IPP¬$/
%¬ P`}q¬-¬’t''¬
G`¡`—ª¬'
$1¬
Elecnor Belco Electric Inc.

Pa
ge 349 of 361
..

Item 9 Page 349 of 361

$  !
$
" $
"$

 
 





  





#!$

$

$
$
(^x=a^Nh]8^[email protected]<\U=x#a^nh8=nx#a?@x1@=nUa^x

 x#T8fn@hxx1n8nm x

xnT@x<U??@hxT@h@<vx?@=[8h@m
q^?@hxf@^8[pxaBxf@iWqhvxq^?@hxnT@x[8tmxaBxnT@x1n8n@xaBx#8[UNlU8xnT8nxnT@x<U??@hxT8m7xxT8mx^anx*<@@^x=a^sU=n@? tUnTU^xnT@xfh@=@?U^QxnTh@@xv@;mxaBx8^vxaJ@^m@mxh@Ihh@?xnaxU^xnT8nxm@=nUa^xU^=\q?U^Qx8^vx=T8hQ@xaBxGj8q?x<hU<@hvx=a[\qmUa^ =a^mfUh8>vxahx8^vxanT@hx8>nxU^xsUa[8nUa^xaBx8^vxmn8n@xchx&@?@h8[x8^nUnhqmnx[8txU^x=a^^@=nUa^xtUnTxnT@x<U??U^Rxqfa^x8t8h?xaC ahxf@hFeh]8`=@xaCx8^vxfq<[U=xtahZmx=a^nh8=nx8mx?@M^@?xU^x.q<[U=x#a^nh8=nx#a?@x1@=nUa^x xtUnTx8^vxfq<\U=x@^nUovx8m
?@FV^@?xU^x.q<[U=x#a^nh8=nx#a?@x1@=nUa^x

xU^=[q?U^QxnT@x0@Q@^nmxaBxnT@x ^Us@hmUnvxaBx#8\UNlU8xahxnT@x2hqmn@@mxaBxnT@ $8[UFdlU8x1n8n@x5^Us@hmUnv
x 3T@xn@h]x
<U??@hxUmxq^?@hmnaa?x naxU^=\q?@x8^vxf8hn^@hx]@]<@hxaK=@hx?Uh@=nahxh@mfa^mU<\@ ]8^8QU^QxaL=@hxahxh@mfa^mU<[@x]8^8QU^Qx@]f[av@@xnT@h@aCx8mxh@Ihh@?xnaxU^x1@=nUa^x 
 
+an@x 3T@x<U??@hx]qmnxf\8=@x8x=T@=Z]8hZx8P@hxT8mxahxT8mx^anxU^xa^@xaDxnT@x<[8^Zxmf8=@mxfhasU?@? x4T@x8<as@x 1o8n@]@^[email protected][
x 1UQ^U^QxnTUmx.hafam8\xa^xnT@xmUQ^8nqh@xfahoUa^xnT@h@aBxmT8[[x8\max=a^mnUnqn@x mUQ^8oqh@xaBxnTUmx1n8n@]@^n
x"U??@hmx8h@x=8qnUa^@?xnT8nx]8ZU^Qx8xH\m@x=@hnUM=8nUa^x]8vxmq<X@=nxnT@x=@hnUM@hxna =hU]U^8[xfham@=qnUa^

 


 
(^x=a^Fdh]:[email protected]<[U=x#a^nh8=nx%a?@x1@=nUa^x
xnT@x"U??@hxmT8[[x=a]f[@n@xq^?@hxf@^8\nvxaBxf@hWqhvxnT@xFd[\atU^Q gq@mnUa^^8Uh@
'8mxnT@x<U??@hx8^vxaL=@hxaBxnT@x<U??@hxahx8^vx@]f[av@@xaBxnT@x<U??@hxtTaxT8mx8xfhafhU@n8hvxU^n@h@mnxU^xnT@x<U??@hx@s@hx<@@^ ?Umgq8[UM@?xh@]as@?xahxanT@htUm@xfh@s@^n@?xOa]x<U??U^Qxa^xahx=a]f\@nU^Qx8xI?@h8[xmn8n@xahx[a=8[xQas@l]@^nxfhaY@=n <@=8qm@xaBx8xsUa[8nUa^xaBx[8txahx8xm8Invxh@Qq\8nUa^!
6@m-x ,a
(BxnT@x8^mt@hxUmxv@mx@uf\8U^xnT@x=Uh=q]mn8^=@mxU^xnT@xN[\atU^Qxmf8=@

$$ /9SAxbEx
)9_r9kwx

Elecnor Belco Electric Inc.

Pa
ge 350 of 361
..

Item 9 Page 350 of 361

(###$(" %"#(%
(

 









&$(

(

!
( (
/;0/$2./
;9'5&;7,';0/525;0

;
5'0/; 

;5&
;0/52502;&
2 :;455
4;7/

2;1
/,6:;0
;1
2*72:;5&5;/0;
.02
;5&/;0/
;#/,;7/11
,,
; )/
'/%;0
;0/5
.15;0
;0725;:;;

2,;0725;&4;

/;'447

;%'/45;5&
;0/52502;
9'5&'/;5&
;'..

'5
,:;12


'/%;590:
3;1
2'0
;
74
;0
;5&
;0/52502
4;!',72
;50;0.1,:;9'5&;/;02

2;0
;;"

2-;
0726;9&'&;02

24;5&
;0/52502;50;0.1,:;9'5&;/;02

2;0
;5&
;5'0/,;02;
,5'0/4;
02
;
05

; &
;08
;55
.
/5;/
;7
45'0//'2
;2
;126;0
;5&
;20104,; '%/'/%;5&'4;20104,;0/;5&
;4'%/572
;
1025'0/;5&
2 0
;4&,,;,40;0/45'575
;4'%/572
;0
;5&'4;55
.
/5;/
;7
45(0//'2
;

'

24;2
;75'0/

;5&5;.+'/%;;!,4
;
25'#5'0/;.:;47*
5;5&
;
25( )
2;50;2'.'/,;1204
75'0/;

(( (( ((

%"'((
Elecnor Belco Electric Inc.

Pa
ge 351 of 361
..

Item 9 Page 351 of 361

Z-'Sp``I`b'W-3p!]Z.32f]3`p'Xg'Sp









$JcU4pp YJd41p#c(c4ap[14p#4/cJ[Ypp(Y1p
"h,TJ/p[Yd^(/cp[14p#4/cJ[Yp
p




 



&4^Y[Y
p
[apYF4T4apYemp





 




!

!

! !

Yp/[YB^V(Y/4pjJcGp$JcT4pp YJc41p#c(c4ap[14p#4/cJ[Ypp(Y1p"h,TJ/p[Yc^(/cp[14p pdG4p,J114^p
14/T(^4apcG(cpcG4p,J1pJapY[cpV(14pJYpcG4pJYc4^4acp[;p[^p[Yp,4G(T5p[6p+nphY1Ja/T[a41p\4^a[Yp\(^cY4^aGJ\p 0[V\(Ynp(aa[/J(cJ[Yp[^F(YJo(cJ[Yp[^p/[^\[^(cJ[YpcG(dpcG4p,J1pJapF4YhJY4p(Y1pY[cp/[TThaJi4p[^paG(VpcG(cp cG4p,J114^pG(apY[cp1K^4/cTnp[^pJY1J^4/cTnpJY1h/41p[^pa[TJ/Jd41p(Ynp[cG4^p,J114^pc[p\hcpJYp(p7)Ta4p[^paG(Vp,J1p (Y1pG(apY[cp1J^4/cTnp[^pJY1J^4/dUnp/[TUh141p/[Ya\J^41p/[YYLi41p[^p(F^441pjJcGp(Ynp,J114^p[^p(Yn[Y4p4Ua4pd[p \hcpJYp(paG*p,J1p[^pcG(cp(Yn[Y4paG(UTp^4C(LYpD[Vp,J11JYFpcG(dpcG4p,L114^pG(apY[dpJYp(YnpV(YY4^p1L^40cTnp [^pJY1J^4/dTnpa[hFGcp,np(F^44V4Ycp/[VVhYJ/(cJ[Yp[^p/[Y=^4Y/4pjJcGp(Yn[Y4pc[p7NkpcG4p,J1p\^J/4p[5pcG4p ,J114^p[^p(Ynp[cG4^p,J114^p[^pc[pAlp(Ynp[i4^G4(1p\^[9Ocp[^p/[acp4T4V4Ycp[5pcG4p,J1p\^J/4p[^p[5pcG(dp[5p(Ynp [cG4^p,L114^p[^pc[pa4/h^4p(Ynp(1i(Yd(F4p(F(JYacpcG4p\h,TJ/p,[1np(j(^1JYFpcG4p/[Yc^(/cp[5p(Yn[Y4pJYc4^4ac41p LYpcG4p\^[\[a41p/[Yc^(/cpcG(cp(TTpac(c4V4Ycap/[Yd(JY41pJYpdG4p,J1p(^4pc^h4p(Y1pE^cG4^pcG(cpcG4p,J114^pG(ap Y[dp1L^4/cTnp[^pJX1L^4/cTnpah,VJcc41pGJap[^pH4^p,L1p\^J/4p[^p(Ynp,^4(R1[jYpdG4^4[6p[^pdG4p/[Yd4YcapcG4^4[<p [^p1JihTF41pJYB^V(cJ[Yp[^p1(c(p^4T(cJi4pcG4^4c[p[^p\(J1p(Y1pjJTTpY[cp\(np+np>4pc[p(Ynp/[_\[^(cJ[Yp \(^cY4^aGJ\p/[V\(Ynp(aa[/J(cJ[Yp[^F(YJo(cJ[Yp,J1p14\[aLc[^np[^pc[p(YnpV4V,4^p[^p(F4YcpcG4^4[5pc[p 4784/ch(d4p(p/[TThaJi4p[^paG(Vp,J1p
[c4p %H4p(,[i4p [Y/[UThaJ[Yp@1(iJcpJap\(^dp[5pdG4p"^[\[a(U p #JFYJYFpcGMap"^[\[a(Tp[YpcG4paJFY(dh^4p
\[^cJ[YpcG4^4[5paG(UTp(Ta[p/[YacJchc4paJFY(ch^4p[5pcGJap [Y/[UThaJ[Yp?N1(iJc p
J114^ap(^4p/(hcJ[Y41pcG(cpV(RJYFp(p7)Ua4p/4^cJ:P/(cJ[YpV(npah,Q4/dpdG4p/4^cJA4^pc[p/^JVJY(Tp \^[a4/hcJ[Y p

!! !!!


!!
Elecnor Belco Electric Inc.

Pa
ge 352 of 361
..

Item 9 Page 352 of 361

'!!!"
'
$ !'
$'


 












 
  





%#'

'

' '
%;&0
;3,0;/,)27;-;/0(307
;02&'1;2%2
;6/2;1;,-2;)-5
;%1%;-0;,7;-2%0;/01-,;11-&2; 2%05&2%;&,;2%;/&27;-;-5,0
;/02,0
;&02-0
;- 0
;+,$0; 9 &1;,-2;300,2)7;3,0;131/,1&-,
;0+,2
;4-)3,207;6)31&-,
;-0;20+&,2&-,;-;&,*&$&&)&27;7;,7

0);$,7
: %1;,-2;,;131/,
;00
;4-*3,20&)7;6)3;-0;20+&,;&,*&$&);7;,7; 0);$,7
5&2%&,;2%;/12;;701
-1;,-2;%4;;/0-/-1;0+,2;/,&,$ ;,
%1;,-2;,;&,&2
;-,4&2
;-0;%;;&4&);(3$+,2;0,0;$&,12;&2;7;;-302;-;-+/2,2 (30&1&2&-,;&,;,7;+220;&,4-)4&,$;#3;-0;-
'&);+&1-,32;5&2%&,;2%;/12;;701

;2%0;0;,7;6/2&-,1;2-;2%&1;02&2&-,
;&,102;2%;6/2&-,1;&,;2%;.**-5&,$;1/; 


6/2&-,1;5&));,-2;,110&)7;013)2;&,;,&);-;50
;32;5&));;-,1&0;&,;20+&,&,$;&0; 01/-,1&&)&28;
-0;,7;6/2&-,;,-2;-4
;&,&2;)-5;2-;5%-+;&2;//)&1
;&,&2&2&,$;$,7
;,;21;-; 2&-,;
-21; 0-4&&,$;
*1;&,"0+2&-,;+7;013)2;&,;0&+&,);/0-132&-,;-0;+&,&1202&4;1,2&-,1; %;-4;02& 2&-,;&1;/02;-;2%;0-/-1); &$,&,$;2%&1;0-/-1);-,;2%;1&$,230;/-02&-,;2%0-; 1%));*1-;-,12&232;1&$,230;-;2%&1;
02&!2&-,;

'' ''
'


$ &''
Elecnor Belco Electric Inc.

Pa
ge 353 of 361
..

Item 9 Page 353 of 361
!
* %%%& *#!'$%* '
*



  







 




(
&*

*
"
*
*
!:(VKMHOK(&P;R(VK#MP<&<K#FPV&(MP<,=(OV%UVO<8F<F8V#F'VOQ%E;PP<F8VP:<OV%<'VHMVKMHKHO#BVPHVP:(V%(OPVH)V:<OVHMV:(MVAFHSB('8(V$'V %(B<(*VP:#PV

 HV('(M#BV#KKMHKM<#P('V6F'OV:#R(V%((FVK#<'VHMVS<BBV%(VK#<'V%UVHMVHFV%(:#B)VH)VP:(VQF'(MO<8F('VPHV#FUVK(MOHFV5M <F4Q(F&<F8VHMV#PP(EKP<F8VPHV<F4Q(F&(V#FVH/&(MVHMV(EKBHU((VH)V#FUV('(M#BV#8(F&UV#V (E%(MVH)VHF8M(OOV#G
H0&(MVHMV(EKBHU((VH)VHF8M(OOVHMV#FV(EKBHU((VH)V#V
(E%(MVH)VHF8M(OOV<FV&HFF(&P<HFVS<P:VP:(V#S#M';F8VH)V#FU ('(M#BV&HFPM#&PVP:(VE#A<F8VH)V#FUV('(M#BV8M#GPVP:(VE#A;F8VH)V#GUV('(M#BVBI#FVP:(V(FP(M<F8V;FPHVH)V#FU &HHK(M#P<R(V#8M((E(FPV#F'VP:(V(TP(FO<HFV&HFP;FQ#P<HFVM(F(S#BV#E(F'E(FPVHMVEH';,>&#P;HFVH)V#FUV('(M#B &HFPM#&PV8M#FPVBH#FVHMV&HHK(M#P<R(V#8M((E(FP

 )V#FUV6F'OVHP:(MVP:#FV('(M#BV#KKMHKM<#P('V6F'OV:#R(V%((FVK#<'VHMVS<BBV%(VK#;'VPHV#FUVK(MOHFV5MV<F4Q(F&;F8VHM #PP(EKP<F8VPHV<F-DQ(F&(V#FVH1&(MVHMV(EKBHU((VH)V#FUV('(M#BV#8(F&UV#V (E%(MVH)VHF8M(OOV#FVH2&(MVHM
(EKBHU((VH)VHF8M(OOVHMV#FV(EKBHU((VH)#V
(E%(MVH)VHF8M(OOV<FV&HFF(&P<HFVS;P:VP:<OV('(M#BV&HFPM#&PV8M#FP BH#FVHMV&HHK(M#P<R(V#8M((E(FPVP:(VQF'(MO<8F('VO:#BBV&HEKB(P(V#F'VOQ%E<PV P#F'#M'VHME

V
<O&BHOQM(VH)

H%%U<F8V&P;R<P<(OV;FV&HF-JME#F&(VS<P:V<POV;FOPMQ&P;HFO ":<OV&(MP<3&#P<HFV;OV#VE#P(N;#BVM(KM(O(FP#P<HFVH)V.&PVQKHFVS:<&:VM(B<#F&(VS#OVKB#&('VS:(FVP:;OVPM#FO#&P<HFVS#OVE#'(VHMV (FP(M('V<FPH
V Q%E<OO<HFVH)VP:<OV&(MP;-?&#P<HFV<OV#VKM(M(LQ<O<P(V5MVE#A<F8VHMV(FP(M<F8V<FPHVP:<OVPM#GO#&P<HFV;EKHO('V%UV (&P<HFV V!;PB(VV

VH'(
V FUVK(MOHFVS:HV.<BOVPHV3B(VP:(VM(LQ;M('V&(MP;3&#P<HFVO:#BBV%(VOQ%@(&PVPHV#V&<R;CVK(F#CPUVH)FHPVB(OOV P:#FVV#F'VFHPVEHM(VP:#FVV5MV(#&:VOQ&:V.<BQM( V
!:(VKMHOK(&P<R(VK#MP<&<K#FPV#BOHV#8M((OV%UVOQ%E;PP<F9V:<OVHMV:(MV%<'VHMVKMHKHO#BVP:#PV:(VHMVO:(VO:#BBVM(LQ<M(VP:#PVP:(VB#G8Q#8(V H+VP:;OV&(MP<-?&#P;HFV%(V;F&BQ'('V;FV#BBVBHS(MVP<(MVOQ%&HFPM#&POVS:<&:V(T&(('VVVV#F'VP:#PV#BBVOQ&:VOQ%M(&<K<(FPOVO:#BBV &(MP<7V#F'V'<O&BHO(V#&&HM'<F8BU
V
** **!*

 '#)**
Elecnor Belco Electric Inc.

Pa
ge 354 of 361
..

Item 9 Page 354 of 361
," )6 00(01 +"$6.,"$#3/$06 +3 )6




66

6



6
(&)%
,
j, +j
(*&j-(j#+$(+
j%(3 '
j,!2!,!
+j).*+j ',j,(jj/+j j















  


=
uBa`ke=Bk
=
uATDaMFe=

[TB=kTa`u =
uT`TkT=\u
A
Q=`l A
T`TkT=\u=q=eD A
_=lFfX=\uBR=`PF
Baa

Fe=kTpFu=QFF_F`k B

aik=q@D
1N !CEN&-H3E;->N
:-B93N
N
)eX_F
sF=eu01udn=eku
D=kFuauH\=ikueFcau
22E3GGNC5N*3DCEH;B9N BH;HMN  #Ju*3DCEH;B9N BH;HMN;BN'CNN;GN+J.

BH3EN'-@3N-B2N22E3GGNC5N(E;

,nA=q=eDFFu
SFeu 222u uTHuY`aq`u

CB9E3GG;CB-?N;GHE;/HNTHu ru
CB9E3GG;CB->N;GHE;N NTHY`aq`u
 !323E->N3D-EH@3BI93B/M  !323E->N(EC9E-@N -@3
4/E;DH;CB
4'(!(26
6
 *-)$6
(#6

"N'J@N 3ENTHu=
c\TB=A]Fu34567080u


"323E->N/H;CBN'[email protected]NTHZaq`  L-E2NN CJBHNTHZaq`


- N '-@3N-B2N22E3GGNC5N%C..MN BH;HM

$HuT`DTpTDn=\u\=ilu`=_FuLWfiku`=_Fu

. #u ;K;2J->GN(3E8E@;B9N+3F;/3GN
T`B\nDT`P
>DDeFiiuTIuDTIKFfF`kuOa_u'a
u%(=

\=ilu`=_FuLWeiku`=_Fu

=kk=BRu!a`kT`nu Ua`u,RFFk
iuTH`FBFu
 @CJBHNC5N(-M@3BHN
/:3/=N-?>NH:-HN-DD>M N
-u9999:ub=Bko=\u


\u
D
 !CEANC5N(-M@3BHN/:3/=N-??NH:-HN-)N M

 
 

 A
u T` YT`Du i

FBTHs
u `=k
?^nFu;0000u<u

E;35N3G/E;DH;CBNC5N+3F<N GN(3E8EA32NCENHCN.3ND3E6CE@32N-B2N-H3
GNC5N+3F;/3N;B/?JN 9 C7/3EGN3AD>CM33GN [email protected]
GN/CBH-/H32N8EN(-M@3BHN#B2;/-H32N;BN$H3@N =kk=BRu!a`kT`n=kTa`u,RFFkiuTI`FBFii=hu

CBH;BJ-H;CBN :03HGN-HH-/:32 ,4N  'CN 
 K
PBTQR4`GSPjZ ^_=;jcF[SdEFj_FG^jDQPjG^j4d_FS]Gi;j6hj
,H_L=jj0+j j+=8_HSPj j ,FG^j;G^8LS^d[=jS@NS66hHPEj \=LH4P8=j"j UL49=;j6hj_F=j`G=Zj46Se=jfF=PjFG^j`Z4P^49_GSPj g4^jO4j SZj=P`=[=<jGP_S j ,FG^j;G^9LS^d[=jI^jZ=XdG[=;j
UdZ^dj `j`Sjj1
+
j 
j ,FG^jHPATZO4_GSPjfGMLj6=j
Z=Wj =;j_SjSPE[=^^j^=OH4PPd4MLhj4P;jfHLLj6=j4e4HL46M=jDZj Uj G9jGP^V9`GSP
jPhjV[^SPjfFSjCGL^j_Sj?HM=j_F=j[=YdHZ=;j
^9MS^d[=j^F4LLj7j^d6J=9`j`Sj4j:GeHMjU=P4M_hjS?jPSajM=^^j_F4Pj
j4P;jPS_jOSZ=jbF4PjjDZj>49Fj^d8FjA5HMdZ= j
.Tk\Fu/VCGu*gGjVEG
`mu
.F[F

Ra`Fu'a
u




 "=kF
u



u
nlRaeTtFDuNeu&aB=\u+F

eaDnBlTa`u
66  &$66,%6
 +3 .566
Elecnor Belco Electric Inc.

Pa
ge 355 of 361
..

Item 9 Page 355 of 361
4&$/<
77-78$2')<
64')(96)7<$39$0<

! 
<

<

 
<
<
<

!
<
<

#<
 " <
:,.%-8<<
$150)<
-(<
9`b|ŒFb|Bhp|ƒwHŒLs{Œ|`<hhŒ>HŒBpmthH~HFŒ>‰Œ}`HŒwHtpw}bo]ŒHo~b}‰Œ‡`H~`HwŒ|ƒ><‡<wFHHŒpwŒtwbmHŒ HFHw<hŒwHBbtbHo}Œ<}Œ}`HŒbob~b<}bpoŒpwŒ wHBHbt}ŒpJŒBp
HwHFŒ+HFHw<hŒ<B}bpoŒpwŒ<Œm<~Hwb<iŒB`<o]HŒ}pŒtwH
bpƒ|ŒUibo]Œtƒw|ƒ<o}Œ}qŒ}b}hHŒŒ:
8 #
Œ|HB}bpoŒ

Œ 9`HŒVhbo]ŒpJŒ<Œ
ZymŒb|ŒwHuƒbwHFŒZwŒ|ƒB`Œt<‰mHo~ŒpwŒ<]wHHmHo}Œ~pŒm<gHŒt<‰mHo}Œ}pŒhp>>‰bo]ŒHo~b~‰ŒLswŒboLlƒHoCbo]ŒpwŒ<}}Hmt}bo]Œ~pŒboYƒHoBHŒ<oŒ pJUBHwŒpwŒHmthp‰HHŒpJŒ<o‰Œ<]HoB‰Œ<Œ2Hm>HwŒpJŒ#po]wH||Œ<oŒpJUBHwŒpwŒHmthp‰HHŒpJŒ$po]wH||ŒpwŒ<oŒHmthp‰HHŒpJŒ<Œ2Hm>HwŒpJŒ #po]wH||ŒboŒBpooHD~bpoŒ‡b~`Œ<ŒBp
HwHFŒ+HFHw<hŒ<B~bpo
Œ !}}<B`Œ<ŒBpo~boƒ<}bpoŒ|`HH~ŒZwŒ<FFb~bpo<hŒboZxm<}bpoŒbJŒ~`HŒ|t<BHŒpoŒ~`HŒ ZwmŒb|Œbo<FHvƒ<}H
Œ #pmthH}HŒ<hhŒb}Hm|Œ}`<}Œ<tth‰ŒLswŒ>p`Œ~`HŒbob}b<iŒWibo]Œ<oFŒm<~Hwb<iŒB`<o]HŒwHtpw} Œ 7HRwŒ}pŒ~`HŒbmthHmHo}bo]Œ
]ƒbF<oBHŒtƒ>hb|`HFŒ>‰Œ~`HŒ4SbBHŒpJŒ2<o<]HmHo~Œ<oFŒ"ƒF]H}ŒZwŒ<FFb}bpo<hŒboZwm<~bpo Œ
/
/FHo}b\Œ~`HŒ}‰tHŒpJŒBp
HwHFŒ+HFHw<hŒ<B}bpoŒZwŒ‡`bB`Œhp>>‰bo]Œ<B~b
b}‰Œb|Œ<oFpwŒ`<|Œ>HHoŒ|HBƒwHFŒ~pŒboOhƒHoBHŒ~`H
pƒ}BpmHŒpJŒ<ŒBp
HwHFŒ ‹HFHw<hŒ<B~bpo


/FHo}b\Œ}`HŒ|~<}ƒ|ŒpJŒ~`HŒBp
HwHFŒ+HFHw<iŒ<B}bpo

/FHo~b\Œ}`HŒ<ttyptwb<~HŒBh<||bUB<~bpoŒpJŒ}`b|ŒwHtpw}Œ /JŒ}`b|Œb|Œ<ŒZhhp‡ ƒtŒwHtpx}ŒB<ƒ|HFŒ>‰Œ<Œm<~Hwb<hŒB`<o]HŒ~pŒ~`H boLswn<~bpoŒtwH
bpƒ|h‰ŒwHtpy}HFŒHo}HwŒ}`HŒ‰H<wŒ<oFŒuƒ<x}HwŒboŒ‡`bB`Œ}`HŒB`<o]HŒpBBƒwwHF Œ )o}HwŒ~`HŒF<}HŒpJŒ~`HŒh<|~
twH
bpƒ|h‰Œ|ƒ>mb~~HFŒwHtpw}Œ>‰Œ}`b|ŒwHtpw}bo]ŒHo}b}‰ŒPswŒ~`b|ŒBp HwHFŒ+HFHw<hŒ<B}bpo


Œ )o}HwŒ}`HŒL„hhŒo<mHŒ<FFwH||ŒBb~‰Œ|}<~HŒ<oFŒ ŠbtŒBpFHŒpJŒ}`HŒwHtpw}bo]ŒHo~b~‰ Œ /oBiƒFHŒ%po]wH||bpo<iŒ(b|~wbB~ŒbJŒgop‡o

#`HBgŒ~`HŒ<ttyptwb<~HŒBh<||bVB<}bpoŒpJŒ~`HŒwHtpw}bo]ŒHo~b}‰Œ}`<~ŒFH|b]o<}H|ŒbJŒb}Œb|ŒpwŒHˆtHB~|Œ~pŒ>HŒ<ŒtwbmHŒpwŒ|ƒ><‡<wF wHBbtbHo~Œ /FHo~b\Œ~`HŒ~bHwŒpJŒ}`HŒ|ƒ><‡<wFHHŒH
]
Œ}`HŒWw|}Œ|ƒ><‡<wFHHŒpKŒ~`HŒtwbmHŒb|Œ~`HŒWw|}Œ}bHw
Œ 8ƒ><‡<wF|ŒboBiƒFH
>ƒ~Œ<wHŒop}Œhbmb~HGŒ~pŒ|ƒ>Bpo~w<B~|Œ|ƒ>]w<o}|Œ<oFŒBpo}w<B}Œ<‡<wF|ŒƒoFHwŒ]w<o}| 
/JŒ}`HŒpw]<obŠ<}bpoŒObibo]Œ‚`HŒwHtpw}ŒboŒ/~HmŒŒ B`HBg|Œ
8ƒ><‡<wFHHŒ~`HoŒHo~HwŒ~`HŒ[hhŒo<mHŒ<FFwH||ŒBb}‰Œ|}<~HŒ<oFŒŠbt BpFHŒpJŒ}`HŒtwbmHŒ+HFHw<hŒwHBbtbHo~Œ /oBhƒFHŒ#po]wH||bpo<hŒ(b|}wbB}ŒbJŒgop‡o

)o~HwŒ~`HŒo<mHŒpJŒ~`HŒ+HFHw<hŒ<]HoB‰Œm<gbo]Œ}`HŒ<‡<wFŒpwŒhp<oŒBpmmb}mHo~ Œ /oBhƒFHŒ<~ŒhH<|~ŒpoHŒpw]<obŠ<~bpoŒhH
Hh
>Hhp‡Œ<]HoB‰Œo<mHŒbJŒgop‡o
Œ pwŒHˆ<mtiHŒ(Ht<w}mHo~ŒpJŒ9w<o|tpw}<}bpoŒ ob}HFŒ8}<~H|Œ#p<|}Œ.ƒ<yF

)o}HwŒ~`HŒ+HFHw<iŒtyp]w<mŒo<mHŒpwŒFH|Bwbt}bpoŒZwŒ}`HŒBp HwHFŒ+HFHw<hŒ<B~bpoŒb~HmŒŒ
Œ/JŒgop‡oŒHo~HwŒ~`HŒ[hhŒ#<~<hp]ŒpJ
+HFHw<iŒ(pmH|}bBŒ!||b|}<oBHŒ#+(!Œoƒm>HwŒZwŒ]w<o~|ŒBpptHw<}b HŒ<]wHHmHo}|Œhp=o|Œ<oFŒhp<oŒBpmmb}mHo}|

)o~HwŒ~`HŒmp|~Œ<ttwptwb<}HŒ,HFHw<hŒbFHo}b\bo]Œoƒm>HwŒ<
<bh<>hHŒZwŒ}`HŒ+HFHw<iŒ<B}bpoŒbFHo~bUB<}bpoŒboŒb~HmŒŒ H] 7HuƒH|~ŒZwŒ6wptp|<hŒ7+6Œoƒm>HwŒ/o
b}<}bpoŒZwŒ"bFŒ/+"Œoƒm>HwŒ]w<o~Œ<oopƒoBHmHo}Œoƒm>HwŒ‚`HŒBpo~w<B~Œ^w<o}Œpw hp<oŒ<‡<wFŒoƒm>HwŒ}`HŒ<tthbB<}bpotwptp|<hŒBpo}wphŒoƒm>HwŒ<||b]oHFŒ>‰Œ}`HŒ+HFHw<hŒ<]HoB‰ Œ/oBhƒFHŒ twHWˆH|ŒH
]


7+6 (*  


+pwŒ<ŒBp
HwHFŒ+HFHw<hŒ<B~bpoŒ‡`HwHŒ}`HwHŒ`<|Œ@HoŒ<oŒ<‡<wFŒpwŒ
hp<oŒBpmmb~mHo~Œ>‰Œ}`HŒ+HFHy<hŒ<]HoB‰ŒHo}HwŒ~`HŒ+HFHw<i <mrƒo~ŒpJŒ~`HŒ<‡<wFhp<oŒBpmmb}mHo}|ŒZwŒ~`HŒtwbmHŒHo~b~‰ŒbFHo~bWHFŒboŒb~HmŒŒpwŒ
/Œ
Œ <Œ)o~HwŒ}`HŒ[hiŒo<mHŒ<FFwH||ŒBb~‰Œ|}<~HŒ<oFŒŠbtŒBpFHŒpJŒ}`HŒhp>>‰bo_ŒHo}b~‰ŒHo]<]HFŒ>‰Œ~`HŒwHtpw}bo]ŒHo~b}‰ŒbFHo}bXHFŒboŒ b~HmŒŒ~pŒboLlƒHoBHFŒ}`HŒBp
HwHFŒ+HFHw<iŒ<B}bpo
Œ
> )o}HwŒ~`HŒ[hhŒo<mH|ŒpJŒ~`HŒboFb
bFƒ<i|ŒtHwZwmbo]Œ|Hw
bBH|Œ<oFŒboBhƒFHŒ[hhŒ<FFwH||ŒbJŒFbLMHwHo}ŒLzpmŒ/5Œ<
Π)o}Hw
1<|~Œ3<mHŒ+bw|}Œ3<mHŒ<oFŒ2bFFiHŒ/ob}b<hŒ2h

/Œ/
Œ )o~HwŒ~`HŒ<mpƒo}ŒpJŒBpmtHo|<~bpoŒt<bFŒpwŒwH<|po<?i‰ŒHˆtHB}HFŒ~pŒ>HŒt<bFŒ>‰Œ~`HŒwHtpw~bo]ŒHo~b~‰Œb}HmŒŒ~pŒ~`HŒip>>‰bo]Œ Ho}b~‰Œb~HmŒ
Œ /oFbB<}HŒ‡`H}`HwŒ}`HŒt<‰mHo}Œ`<|Œ>HHoŒm<FHŒ<B~ƒ<hŒpwŒ‡biiŒ>HŒm<FHŒth<ooHF Œ #`IBgŒ<hhŒ>pˆH|Œ}`<}Œ
<tti‰
Œ /JŒ}`b|Œb|Œ<Œm<}Hwb<hŒB`<o]HŒwHtpw}ŒHo}HwŒ}`HŒBƒmƒh<~b HŒ<mpƒo~ŒpJŒt<‰mHo~Œm<FHŒpwŒth<ooHFŒ}pŒ>HŒm<FH
Œ

#`HBgŒ~`HŒ<ttwptwb<}HŒ>pˆŒ &`HBgŒ<hhŒ>pˆH|Œ~`<~Œ<tti‰
Œ /JŒt<‰mHo~Œb|Œm<FHŒ}`wpƒ]`Œ<oŒbo gboFŒBpo}wb>ƒ}bpoŒ|tHBbJ‰Œ~`H o<€ƒwHŒ<oFŒ
<hƒHŒpJŒ~`HŒbo gboFŒt<‰mHo~


&`HBgŒ~`HŒ<ttwptwb<~HŒ>pˆ
Œ #`HBgŒ<hhŒ>pˆH|Œ~`<~Œ<tti‰Œ jJ p}`HwŒ|tHBb\Œo<}ƒwH


6wp
bFHŒ<Œ|tHBbVBŒ<oFŒFH}<bhHFŒFH|Bwbt~bpoŒpJŒ~`HŒ|Hw
bBH|Œ}`<}Œ~`HŒhp>>‰b|~Œ`<|ŒtHwZwmHFŒpwŒ‡bhiŒ>HŒHˆtHB~HFŒ~pŒtHwZ{ <oFŒ~`HŒF<}H|ŒpJŒ<o‰Œ|Hw†bBH|ŒwHoFHwHFŒ /oBhƒFHŒ<ihŒtwHt<w<}pw‰Œ<oFŒwHh<~HFŒ<B}b b~‰Œop}Œeƒ|~Œ~bmHŒ|tHo}ŒboŒ<B}ƒ<hŒBpo}<B}
‡b}`Œ-HFHx<hŒpTBb<h|
Œ 0FHo}b\Œ}`HŒ+HFHw<hŒpKWBHw|ŒpwŒHmthp‰HH|ŒBpo}<B}HFŒpwŒ~`HŒpTBHw|ŒHmtip‰HH|ŒpwŒ2Hm>Hw| pJŒ#po]wH||Œ}`<~Œ‡HwHŒBpo}<B~HF



'aHBgŒ‡`H~`HwŒpwŒop}Œ<ŒBpo~boƒ<~bpoŒ|`HH}|Œb|Œ<~}<B`HF



9`HŒBHy}bJ‰bo]ŒpKNcBb<iŒ|`<ihŒ|b]oŒ<oFŒF<~HŒ}`HŒLswnŒtwbo}Œ`b|`HwŒo<mHŒ~b}hHŒ<oFŒ~HhHt`poHŒoƒmAw

6ƒ>hbBŒwHtpw}bo]Œ>ƒwFHoŒZwŒ}`b|ŒBpkhHB~bpoŒpJŒboZwm<~bpoŒb|ŒH|~bm<~HFŒ}pŒ< Hw<]HŒŒmboƒ}H|ŒtHwŒwH|tpo|HŒboBhƒFbo]Œ}bmHŒQswŒ
wH
bH‡bo]Œbo|~wƒB~bpoŒ|H<xB`bo]ŒHˆb|~bo]ŒF<~<Œ|pƒwBH|Œ]<}`Hwbo]Œ<oFŒm<bo}<bobo]Œ}`HŒF<~<ŒoHHFHFŒ<oFŒBpmthH}bo]Œ<oFŒwH bH‡bo]Œ~`HŒ
BpihHB}bpoŒpJŒboPsym<bpo
Œ 8HoFŒBpmmHo}|ŒwH]<wFbo]Œ~`HŒ>ƒwFHoŒH|}bm<~HŒpwŒ<o‰Œp}`HwŒ<|tHB}ŒpJŒ}`b|ŒBphiHB}bpoŒpJŒboZwm<}bpoŒ boBhƒFbo]Œ|ƒ]]H|~bpo|ŒZwŒwHFƒBbo]Œ}`b|Œ>ƒwFHoŒ}pŒ~`HŒ4JNdBHŒpJŒ2<o<]HmHo}Œ<oFŒ"ƒF]H}Œ6<tHw‡pwgŒ7HFƒE~bpoŒ6wpfHB}Œ 

Œ;<|`bo]}poŒ(
#
Œ

Π





 





<
<
$+)< <4*<
$39$6;<
<
Elecnor Belco Electric Inc.

Pa
ge 356 of 361
..

Item 9 Page 356 of 361


 

 
 


 



LFƌƲ6‡’sƾŬFƍǑLFƒ6‡As6ǑþõăǑLƔƇŤ6vƒ6Ǒ




 


ǑįǑ0,Ǒ

ņ
æùǑ İıǑ D3NJ3ƕ3ő3ĪIJŋU3(ijGĴEǑ@ĵĶ
pķĸǑĹǑ ZǑ< #*Ǒ ÷ĆǑĎ
êǑ
Ô¯Ǒ1

Ű
ǑĂ
H
çǑ ;;ǑĦďǑĔ˜ǑúNjŁŵCǑ/ǑÄǑ
û
GEƵƭqBǑĝƖ9Ǒ
I.I×
.
;
dÖǑ
cYǑ1Ž
ű
ǑjƎèǑ
ī
Ļ
U
ť
Ɨ
’Ǒ
Ė
GBqƶŦG
ƏƳǑ
ÚYǑ
w)”Ǒ!
éǑ ĄŶx
BEƘˆǑöxŽŇƙǑą
ŷ
C
łƷˆDŃ Ǒ
ĐƐń
9 Þ:Ǒ1~
Ǒ<
Œ*QŮ
Ǒi
ćëǑ ÅǑ ß°Ǒ
Ǒ
ô



 
K±Ǒ?
€Ǒÿ
ž‰Ǒ'7Ǒ"
Ǒ *%& #†
ƴìǑ p
@@@

 ĺǑ ã²Ǒn
Ǒ ǀ'

ǑQǑŘǑ%ŀ& ƩVí
É^[Ǒ
 g

ŧHR ǑŒo
Ɔ¡Ǒm
‰8wXǑ#Ǒ

³Ǒ!đ=%ǑƠǑ
$*
ƈǑ
Ë¢Ǒ oơųǑ
Ğ7Ɖ
ŠǑ k

ļ
Ǒ%7


Ǒ =‘
şVnj
=
Ǒ
£¦Ǐ“


  
  

 


*
)* *üƚ‚-,yƹyǑ!*
#*%
*(%"**'


*
Ð] ėŸǑ
Ǒ=
Ǒ!'
ƣ
_:ǑČzuzƤĽ
§|uǑ1ƪ†ŲōƺǑ!‚ľ
‹î
Ø·ǑetǑ>H
( śǑ 
ï
Ü9 ý
(ŒǑ
Ǒ 
ð
*'

*&$*
Ę
&NźǑ
Ǒ&P#4
ǑǑƁ,Ǒhe+Ǒ
ƱŖ*
Ǒ

Ǒ8ŻǑ
4

5 Ǒ
ǑŢRǑ"‹'ǑǑ'
,

Ǒ Ǒ&7

¹Ǒ
àZ 0SǑ
Ǒ2
-
Ŏ{8
•Ǒ%Ŝ 

Ǒ K¼ǑM

Òä¾Ǒ0ŏǎǑĒǑ
Ǒ2
-


8
–ǑğƊPǑ aÆ:1

Ǒ
bÍ9 ęOSǑ
Ǒ2
-


Lj
—Ǒ?ƃ
Ǒ
Mē%?2$
ĩĨ$>ĠóǑ
¥Ǒ>Ž5
Ǒ¬ 0żǑ
ŅǑ
Ê_´Ǒ ø+Ǒ
f{Ƭƿŗ5Ǒ
!ǁ'

Ǒ


cµǑ
+Ǒ<„Ǒ$("Ɲ
Ǒ
Û¶
Ĉ
škǑ
Ǒ
#‘"}ŌǑ
TǑ
Ǒt
ǑŨǑV
ſ
ƢǑ



Ǒ 'džƸǑ








 


 
 







 














  





$Ĝġ>2n!ħñǑ$
ŚǑ
€ǑĀǑ ĉǑQ)Ǒ
TǑʼn
Ǒ4#Ǒ)
XǑ

Š

Ǒ"
ƀ

¸Ǒ!N
Ǒ4ǑŠ
Ǒ 
ǑƑ

ǑM
+Ǒ%


*
Ǒ(Ǒ

Ǒ)
ƞ
8
Ǒ
|
›žǑ
œǑ

Ǒ
}
Ǒ
LJ
ǑǂǑr
Ǒ&
T
„¤Ǒ


ǑH-ŹONr,
ǑǑƻ
Ǒ

Ǒ Ǒũ
Ǒ4Ǒ
ǑƥǑ~
Ǒ
ǑWmǃ


ǑjůWǑDŽ
ǑǑ)
Ŀ5ºǑĭƦòǑř

Ƨ
OǑ
ŭ
Ǒg
+ǑǑ

Ɵ

»Ǒ


;
̨
d
©
I.

Ñ` 

á½Ǒl



™ǐ 
PǑ
K\Ǒ 
Ǒ
ÃƂƛš ǑĮƜ ŝǑ
/./ª//`«ÝÙâ.Ǒ

å¿Ǒl




ƨǑ!Ƌ
ÇÀĢ


ĬDBCǑģ
UC
DŊŐ
EƼǑ
ÓÎÁ Ĥ

-
ƯǑ?Ƅƅ
Ǒ
:Ǒf
­ <

Ǒā5
ňǑ0&SǑŪ(
ǑĊ ū

)ǑœhĚċŸ\Ǒč
7ưǑ
ǑRǑ
Ǒiě+ǑţǑb^ǑǑ"Ǒ #Ǒ
lj
ƽ
Ǒ#

Ǒ Ǒ
®
* Ǒ
ŔǑ"

ƫ
Ǒ"ƓǑ(Ǒ

ÂǑ
a]Ǒ$ ,
Ǒ*
Ǒ
ǑǑ)Ǒ
Ŵ
[Ǒ
ĥAŞvǑ ÏǑ FŕJǑ
ĕAƒDžAƮǍǑJÈJÕǑ


Elecnor Belco Electric Inc.

..

Item 9 Page 357 of 361

"



"

"

" !

"
"

!"('
+
#
$+ +
%&+
;@DECF4E<A@D 4A@DECF4E;A@p4A@EC25Ep637p4A??;E?7@Ep

.+f?

f.eĐ)
g`.+Đ

=`JHYp2NL_Jmp“ 
Đ

Đ
Đ×Đ
ĐĐ
Đ
Đ
Đ Þ

/Đ

Đ*
$
4`_ibHJip638p:`HXp
Đ
ĐĐ Đ&ĐĀ


ĐĐ Đ
ĐĐ
Đm
Đ "



*
'
Bb`TLJip6LhJbPaiP`_p2 

Đ

Đ
A
Đ

(
øĐĐ
Đ
ĐĐ

Đm
Đ "



ĐR
r


Î

ˆĐ)
$
Đ?

1Đ."
&‰Đi


ŠĐ
:*
( Bb`ULJip>`JHiP`_pW 

Đ

ĐA
Đ
„TĐĐ
Đ

ĐĐ

ĐLA
Đ "
t


«
) 3PKKLd
hp@H^Lp” 

Đ
ĐLƒĐ/
Đ
F
* BbP^Lp4LgPMPLKp637pW

nĐ9Đ
Đ

ĐĐ/ĐĐ
8ßÛ
Đ *
, 3PKp2^`j_i 

Đ

Đ&Đ
Đ
Đ #&Đ !ĐĐ

Đ

Đ
<
µž E`iHXp6`Y\Hdp2^`j_ipM`dp^ĐDjIJ`_ibHJi`bhpX 

Đ

Đ#Đ #
ĐĐ@ĐĐ


',Đ)hHĐ"
 ĐVĐ&Đ+E
:,ĐĐĐ
î!
Đ

Đ

Đ('Đ
Ä6Đ
Đ
6Đv,
0 E`iHXp_j^ILbp`Mp^ĐhjIJ`_icHJi`bhpX >
'Đ
ĐĐC
ĐĐĐ
Đ <Đ)hHĐ"R ĐVĐ&&
+•- :ZĐĐBĐ
ï!
Đ
Đ

Đ

Đ
@
Đ
Đ$Đ,
 3PKp<iL^p@j^ILbp2 

Đ
Đ

Đù!
ĐĐ%K‹Đ
r"

ŒĐĐ

&Đ!#

ĐĐ
Đ"

Ÿ
! 6LhJdPaiQ`_p`MpG`cWpDLbkQJLhp`bp?HiLbPHXhpDjaaXPLKp; >
Đ


ĐĐ%ëĐ
ĉ

1Đ
Đ

&ĐĐ

"

=Đ4

Đ7#Đ%'KĐĐ
Đ
I

ĐĐ_
Đ
 àĐ%ìĐ
Ù'
ĐĐ
Đ


Đ}Đ%Đ
1Đ


Đ


Đ
ĐĐ
 Đ4Đ¯]]|ĐIĐ

Đ$ċ
ĐáĐĐĐ
Đ
ą

Đ
Đč
$

ĐĐ

Đ ŽĐ


Đ

Đ
9Đu
ĐĐ


8

Đ
Đ
/
ĐĐ
Đ
*Đ)

Đd
5ÉĐ

8жĐĐ


$
Đ
%ĐĐĎĐ

Đ8N


úĐĐ ĐIê
Z
°²¡ Ë»ÅGÏĐ
ĐÔăíĐGÖt
ĊĐG
MЖ 
Đ+¼`
)ĐĐinĐ

ďĐ

ĐĐ

Đ

ĄâĐÓl

Đ

(

é
ÍýĐ 
¢

!' 638p4LgPMSJHiP`_p@j^ILbp— 

Đ
Đ 0Đ

u
k
ĐÆ

/
Đ+!
£Đ
qĐ-
>Đ!Đ
Đ
(


Đ


Đ 
Đ
Đ

Đ

*
( 638p4`_iHJip<_M`d^HiP`_pD (
Đ

Đ
Đ 
1Đ Đ
Đ!
ĐĐóĐ- Đv

Đ
,

Đ

LĐ
Đ

Đ
~Đ
Đ Đ

Đ!
1ĐãĐ

Đ

Đ
ĐĐ ,
) 637p6`XXHbp2^`j_ipE >

Đ

ĐB
Đ #Đ!ĐĐ

Đ%KĐĐ
Đ

ĐĐ
'"

ĐĐ
Đ"

¤
4#!
Đ

Đ
õ
ĐĐäĐ

Đ6
Đ6ĐĐ
[Đ)

Đa
5ÊĐ


Đ·ĐĐ
%ĐĐ(Đô7¬8
#Đ'


û*
+ E`iHYp4YHP^LKp637pBHgPJPaHiP`_p; {¹Đ
Đ

ĐĐ #o
ĐĐ



Đ
Đ
Đw
Đ
Đ
OĐ=
QºĐ

Đ

ĐĐ
ĐĆ

$Đ

ІxÐĐ


Đ½
Đ5ć$

Đ_7
OĐ
"$
ĐĐ

Đy

Đ
PU[ĐÇ@


ĐQĐ7J
ĐJĐp
Đ
Đ

Đz
B
Đ
Đ3p‘PĐĐ
ā
ðĐ 

Đ3 Đ¿

ĐÚsNЇ3ÀUĐåM

Ă

ĐS

Đ9


б´YÃĐ Đ4ü
Đ2 3 ĐÁj(ĐĈĐĐ

ĐÈ
5H:,
!- BdLaHdLd
hpDPN_HijbLpY g

Đ

Đ#

Đ

Đ- Đ

ĐĐĐ

#ĐĐ
ĐĐJ
Đ

Đ

kĐ
*
!/ 6HiLpD 
Đ

Đ 
Đ

Đ
Đ

ĐĐ
Đ

ĐĐ

Đ
€Đ


¥
!1 BdLaHdLbhp@H^Lp˜ 

Đ
Đ
ĐĐ

Đ

Đ

Đ Đ6
Đ
Đ0MĐ Đ

Đ
\
% BO`_Lp2 

Đ
Đ
Đ
Đ Đ
ĐC

ĐĐ
Đ

Đ

Đ

Đ0Đ
Đ

Đ@’
$" BbLaHdLehpEPiYLp; 

Đ
Đ

­

ĐĐ
Đ
Đ
$Đ
Đ
Đ- Đö$
ĐþF
.

bĐ
3+
ÕĐ)¾
Ñ4.+Đ
$&
>`JHXp2NL_Jmp4`_ibHJip@j^ILd 
Đ

ĐcĐ

Đ
Đ÷

ĐĐ


$

¦
$'
9LKLcHX
2PKpBd`VLJip@j^ILb

Đ
ĐÂ

ñ™

Đ5A
ĐÌC

ST§
$(
3QKpAaL_P_Np6HiLpš 

Đ

Đ 
ĐĐ
Đ%

Đ

<
$) 4`_ibHJip2lHdKp6HiLpE 

Đ

Đ 
Đ

Đ
Đ%Đ
9

<
$+ 2lHdKp2^`j_ip› 
Đ

ĐĐ% Đ!ĐĐ
Đ
Đ

Đ
9
!
ĐF
$.
>`JHYp2NL_JmpCLadLhL_iHiPkLhpDPN_HijbLpD Ò
Đ
Đ&
æĐ Đ
çĐĐ

Đ
ĐĐ

ĐbqĐ


!Đ
Đ

lsĐ
ĐĐ
'
ÜĐ
Đ

Đ

Đ
Đ
Đ Đ
Đ
(
Đ)

ĐĐ

Đ'Đ
Đ#

Đ

=
$/
6HiLp; 

Đ
Đ 
Đ

Đ-
Đ

ĐĐ
Đ

ĐĐ

ĐaoĐ

Đ?


(
"
¨
³¸© >`JHZp2NL_JnpCLadLhL_iHiPkLhp@H^Lp2 
Đ

Đ
ĐĐ

Đd7Đ

Đe



/"
Đ
ČjÝ
Đ


B

0Đ
œ

ĐØÿ
=
'
BO`_Lp 

Đ
Đ

Đ
Đ Đ
ĐC

ĐĐ

Đ

Đ

Đ

Đ

0Đ
Đ

Đ
\
'#
>`JH[p2NL_JmpCLafLhL_iHiPkLpERi]Lop(

Đ
Đè
®
ò
ĐĐ

ĐcĐ

Đ?



"
Đ
'N

Đ



‚Đ
Đ

Đ
ª

++
++

) *+
+
Elecnor Belco Electric Inc.

..

Item 9 Page 358 of 361
E’VT{¾5®®j®¯TŠV\¾K›’V\Yµœ\®¾FTŽµT|¾
)  '+*+
J›’˜’®\›
9’‰¯TV¯’›¾A’’Y¾?Tk¯g¾<b^’œ²¾

+
+
  +
+
+

+
9’®¯¾J›’˜’®T~¾;µ\¾;T¯\¾SSSSSSSS¾K<
9<¾
@\Y\œT}TlY¾Kœ’z\V¯¾H’® ¾BM
CL/#+1
#-
¾ 7kY¾I˜\ŽlŠf¾;T¯\¾ ¾€$.(
)+¾ 9IH
Oh\¾ :m°¼¾“]¾RZ
¬”‹¾ \®¯TU
}l®g\Y¾T¾;k®TY¸TŠ¯Tf\Y¾7µ®l‰\®®¾=‰¯\ž˜›n®\¾;7= ¾f’T}¾’^¾  ¾^’›¾¯gk®¾V’Š¯TV¯¾Ph\¾kŠ^’œ„T¯l’‰¾˜›’¸jY\Y¾g\›\jŒ¾®h’¹®¾¯g\¾›\™µlœ\Y¾f’’Y¾^Tk¯g¾\e’›¯®¾¯’¾ \\¯¾’›¾\»V\\Y¾
¯h\¾;7<¾V’Ž¯TV¯¾f’T}¾
K’˜’®\›®¾’›¾UoYY\ž®¾®µU
l¯¾¯g\¾^’}}’¹kŠf¾jŠ^’ž
T¯n’Ž¾¯’¾Y’Vµ
\Š¯¾¯g\k›¾f’’Y¾_Tl¯g¾\`^’›²®¾¹j¯gj‰¾^k¸\¾0 ¾WT[YTŸ¾
YT½®¾`ª’
¾V’®¯¾˜ ’˜’®T‚¾Yµ\¾YT¯\¾’¡¾UkY¾’˜\ŠkŠf¾ K›’˜’®\›®¾T‰Y¾UkYY\ž®¾Tœ\¾›\V’