TERMINATION, MUTUAL RELEASE, AND SETTLEMENT AGREEMENT
This
Termination, Mutual Release, and Settlement Agreement (this "Termination
Agreement"), dated as of August 4,
2026, is made by and between Energea Portfolio 5 LATAM LP, a Delaware limited
partnership ("Energea"), and Helios
Energía S.A.S. E.S.P.,
a Colombian utility
services provider company
("Helios") (each a "Party" and together
the "Parties").
RECITALS
A. The Parties entered into that certain
Loan and Security Agreement dated January 22, 2025 (the "Loan
Agreement"), as amended by Addendum No. 01 dated February 28, 2026 (the
"Addendum" and, together with the Loan Agreement and the other
documents executed in connection therewith, the "Loan Documents").
B.
In connection with the closing
of the Loan Agreement on January 22, 2025, Helios and certain of its
shareholders delivered to Energea a security package including a secured
promissory note (pagaré) with letter of instructions (carta de
instrucciones), an equity pledge agreement (prenda sobre acciones)
granted by such shareholders, and an asset pledge agreement (prenda sobre
activos) (collectively, the "Security Documents"), none of which
was registered in the Registro de Garantías Mobiliarias.
C.
No Advance was ever requested
and disbursed, or otherwise disbursed, under the Loan Agreement, and no
principal or interest is outstanding thereunder.
D.
During 2026 the Parties
negotiated a possible amended and restated loan and security agreement, which
was never executed; that negotiation process was terminated on July 15, 2026.
E.
The Parties wish to terminate
their contractual relationship by mutual agreement (mutuo disenso) and
to fully and finally settle and release all claims between them arising out of
or relating to the Loan Documents and the negotiations described above, with
the effects of a settlement (transacción) under Colombian law, including
its res judicata (cosa juzgada) effect.
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the Parties agree as follows:
1.
Definitions
Capitalized
terms used but not defined in this Termination Agreement have the meanings
given to them in the Loan Agreement.
"Closing" means
the consummation of the transactions described in Section
3, on the Closing Date.
"Closing Date" means August 4, 2026, or such other date as the Parties
agree in writing.
"Released
Claims" means any and all claims, demands, actions, causes of action,
obligations, damages, costs, and liabilities of any nature, whether known or
unknown, contingent or matured, in contract, tort, or otherwise, arising out of
or relating to the Loan Documents, the Security Documents, the transactions
contemplated thereby, any decision to fund or not to fund any Advance, or the
negotiation of any amendment, restatement, or other modification thereof, in each case arising on or before the
Closing Date.
2.
Termination
2.1
Termination. Effective at the
Closing, the Loan Agreement, the Addendum, and each other Loan Document are
terminated by mutual agreement of the Parties (mutuo disenso), and all
commitments of Energea to make any Advance or other extension of credit are
cancelled. Such termination extends to all third-party arrangement (if
applicable) implemented, all of which shall cease to have affect, including
supplier subordinations and other in effect.
2.2
No Admission. This Termination
Agreement is entered into by mutual convenience. Nothing herein constitutes, or
shall be construed as, an admission of breach, default, fault, or liability by
either Party.
3.
Closing; Deliveries
3.1
Closing. The Closing shall
occur on the Closing Date, remotely by exchange of executed counterparts in
electronic form.
3.2
Return of Security Documents.
Within ten (10) Business Days following the Closing Date, Energea shall make
available for collection by Helios, at a location in Colombia notified by
Energea to Helios in writing, all original Security Documents in Energea's
possession, with each original counterpart of the pagaré marked "anulado
- sin
valor". Helios
shall collect such documents within twenty (20) Business Days following such
notice and shall issue to Energea a receipt itemising the documents collected.
Energea shall also deliver its written consent to the revocation of the Banking
Attorney Resolution contemplated by Section 9.3(c) of the Loan Agreement (as
inserted by the Addendum). Energea shall have no obligation in respect of any
document not in its possession.
Energea
represents that it has not endorsed, negotiated, discounted, assigned or
otherwise transferred the pagaré or any other Security Document to any
third party.
3.3
Helios Deliveries. At the
Closing, Helios shall deliver to Energea: (a) a certificate of its legal
representative confirming that such legal representative holds full statutory
authority to execute this Agreement.
3.4
Effect. The releases in
Section 4 take effect at the Closing. The return of Security Documents under
Section 3.2 is an independent post-Closing undertaking and is not a condition
to, and does not suspend, the effectiveness of
those releases.
4.
Mutual Release; Settlement Effect
4.1
Release by Helios. Effective
at the Closing, Helios, on behalf of itself, its Subsidiaries, and their
respective successors and assigns, irrevocably and unconditionally releases and
forever discharges Energea, its Affiliates, and their respective officers,
directors, managers, partners, members, employees, advisors, and agents from
all Released Claims, including, without limitation, any claim relating to any
failure or refusal to disburse any Advance.
4.2
Release by Energea. Effective
at the Closing, Energea, on behalf of itself and its successors and assigns,
irrevocably and unconditionally releases and forever discharges Helios, its
Subsidiaries, and their respective officers,
directors, employees, partners, members, stockholders and its members,
advisors, and agents from all Released Claims, including, without limitation,
any claim relating to compliance with the covenants of the Loan Documents prior
to the Closing Date.
4.3
Settlement Effect. This
Termination Agreement constitutes a settlement (transacción) under
Colombian law and shall have res judicata (cosa juzgada) effect
with respect to the Released Claims.
4.4
Exclusions. The releases in
this Section 4 do not extend to: (a) the obligations of the Parties under this
Termination Agreement; (b) claims that cannot be released as a matter of
mandatory Colombian law, including claims arising from willful misconduct (dolo);
or (c) the confidentiality obligations in Section 5.
4.5
No Prior Assignment. Each
Party represents that it has not assigned or transferred any Released Claim to
any Person
5.
Confidentiality; Non-Disparagement
5.1
Confidentiality. The terms of
this Termination Agreement are confidential and shall not be disclosed by
either Party except: (a) to its Affiliates, investors, lenders, and
professional advisers subject to confidentiality; (b) as required by Law,
regulation, or judicial or arbitral process; or (c) as necessary to effect any
registrations or filings contemplated hereby.
5.2
Non-Disparagement. Each Party
shall refrain from making any public statement disparaging the other Party in
connection with the Loan Documents or the negotiations described in the Recitals. This shall extend
to any public or private
statement, including statement to investors, prospective leaders, financial
institutions or any other agencies.
5.3
Agreed Statement. Any external
communication regarding the subject matter hereof shall be limited to:
"The parties elected by mutual agreement not to proceed with the
contemplated financing."
6.
Representations
6.1
Each Party represents and
warrants that: (a) it has full power and authority to execute and perform this
Termination Agreement; (b) this Termination Agreement has been duly authorized
by all necessary corporate or partnership action; (c) this Termination
Agreement constitutes its legal, valid, and binding obligation; and (d) it has
received independent legal advice regarding the terms and effects hereof,
including the releases in Section 4, and executes this Termination Agreement
voluntarily.
7.
Miscellaneous
7.1
Governing Law. This
Termination Agreement shall be governed by, and construed in accordance with,
the law of the Republic of Colombia,
without regard to conflict-of-laws rules (mirroring Section 8.8 of the Loan Agreement).
7.2
Dispute Resolution. Any
dispute arising out of or relating to this Termination Agreement shall be
resolved in accordance with the mechanism set forth in Section 10 of the Loan
Agreement (as inserted by the Addendum), which
is incorporated herein by reference and shall survive for that purpose.
7.3
Notices. Notices shall be
delivered in writing to the addresses set forth in the Loan Agreement, with
copies by email to juan@energea.com (Energea) and info@heliosesp.com
(Helios).
7.4
Entire Agreement; Amendments.
This Termination Agreement constitutes the entire agreement of the Parties
regarding its subject matter and may be amended only in writing signed by both
Parties with specific reference hereto.
7.5
Counterparts; Electronic Signatures. This Termination Agreement may be executed in counterparts, including by electronic signature, each of which constitutes an original.
7.6
Expenses. Each Party bears its own costs and expenses in connection with this Termination Agreement.
7.7
Language. This Termination
Agreement is executed in English. Spanish-language instruments required for any
Colombian registrations or filings shall be prepared consistently herewith and,
for registry purposes, shall prevail as required by applicable Law.
7.8
Severability. If any provision
hereof is held invalid, the remaining provisions shall remain in full force and
effect.
[SIGNATURE PAGE FOLLOWS]
ENERGEA PORTFOLIO 5 LATAM LP
By:
Name: Michael
Paul Silvestrini Title:
Managing Partner
HELIOS ENERGÍA S.A.S.
E.S.P.
By:
Name: Angelina Alvear Flórez
Title: Legal Representative
Termination, Mutual Release and
Settlement Helios-Energea Termination, Mutu...elios-Energea.pdf 0ad3b5b48879d71590721b3f4cf1192ac84fda3f
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Signed
08 / 04 / 2026
23:00:26 UTC
Sent for signature to Alan Stewart (alan@stewartcarvajales.com), Angelina Alvear (aalvear@heliosesp.com) and Mike Silvestrini (mike@energea.com) by integrations@hellosign.com acting on behalf of juan@energea.com
IP: 186.116.87.154
08 / 05 / 2026
12:43:15 UTC
08 / 05 / 2026
12:44:14 UTC
08 / 12 / 2026
18:17:07 UTC
08 / 13 / 2026
14:54:47 UTC
Viewed by Alan Stewart (alan@stewartcarvajales.com) IP: 191.156.93.106
Signed by Alan Stewart (alan@stewartcarvajales.com) IP: 191.156.93.106
Viewed by Angelina Alvear (aalvear@heliosesp.com) IP: 181.129.146.50
Signed by Angelina Alvear (aalvear@heliosesp.com) IP: 190.85.36.190
Termination, Mutual Release and
Settlement Helios-Energea Termination, Mutu...elios-Energea.pdf 0ad3b5b48879d71590721b3f4cf1192ac84fda3f
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Signed
08 / 13 / 2026
15:06:18 UTC
08 / 13 / 2026
15:06:24 UTC
08 / 13 / 2026
15:06:24 UTC
Viewed
by Mike Silvestrini (mike@energea.com) IP: 47.165.22.174
Signed
by Mike Silvestrini (mike@energea.com) IP: 47.165.22.174
The
document has been completed.