Chronology

Currently, the processing of the ordinary environmental impact assessment procedure has begun. To this end, the initiation document for said procedure, which includes a technical summary of the planned actions, has been presented to the Segura Hydrographic Confederation. Said document has been transferred from the aforementioned confederation to the environmental body, so that it can issue the scope document which, in turn, must include the points that must be analyzed and considered in the Environmental Impact Study.

It is estimated that the corresponding response will be available at the end of April. From that moment on, the drafting of the Environmental Impact Study and the Basic Project that defines the actions to be developed must begin, so that both documents are submitted to Public Information. The duration of the preparation of the Environmental Impact Study will depend substantially on the scope required for it. But it is estimated that it will take approximately ONE (1) YEAR.

At the end of it, there must be a period of public presentation, collection, examination and response of allegations and, where appropriate, incorporation of adjustments and referral of the file to the DG of Quality and Environmental Assessment for issuance of the Environmental Impact Declaration. For this process, a period of THREE (3) MONTHS is considered necessary.

After the promulgation of the Environmental Impact Statement, the remaining specific authorizations for aspects of the project may be processed simultaneously:

• Authorization for the discharge of waste water and its occupation of the maritime-terrestrial public domain.

• Concession of occupation of public maritime-terrestrial domain for the intake of seawater

• Concession of public hydraulic domain for the construction of the reservoir and dam in the corresponding area

• Approval of the photovoltaic solar plant projects, power lines and connection to the national electrical grid

For these procedures it is considered that an additional period of about THREE will be needed. (3 MONTHS.

With these approvals and authorizations, the basic project may be approved by the Segura Hydrographic Confederation, although in parallel the construction project may be drafted simultaneously for those elements of the facilities that can be developed in greater detail without generating effects on third parties.

The Project could be approved in ONE (1) MONTH With the approval of the project and the favorable Environmental Impact Statement, the declaration of public utility of the action will be requested, for which a period of TWO (2) MONTHS is estimated.

Simultaneously, the indicated procedures will begin regarding the classification of the project as an action of regional interest and a strategic project. Once these qualifications have been obtained, urban planning licenses for works will be requested in the respective municipalities where the works are located.

Once the project is declared of public utility, the expropriation procedure of the assets and rights necessary for the execution of the works may begin; The period of time necessary to begin disposing of said land is estimated to be another THREE (3) additional MONTHS. The availability of the land together with the municipal licenses will allow the works to begin.