KBS was contracted by Pan American Energy Energias Renováveis Ltda on behalf of GCC project owner for verification of the project activity “Novo Horizonte Wind Project” in Brazil.

The objectives of this project verification is to validate that the GCC project meets the requirements of GCC project framework v2.1, GCC program manual v3.1, GCC program processes v4.0, GCC project standard v4.0, GCC project sustainability standard v3.1, GCC verification standard v3.1, GCC Environment & Social safeguards standard v3.0, ISO 14064-2 & ISO 14064-3, applicable approved CDM methodology “Grid-connected electricity generation from renewable sources” ACM0002 v22.0, Applicable Legal requirements/rules of host country, National Sustainable Development Criteria and CORSIA requirements and other GCC requirements related to aspects such as project design, applicable conditions, project boundary, baseline scenarios, additionality, emission reduction, monitoring plan, local stakeholder consultation, global stakeholder consultation, GHG emission reductions (ACCs), environmental no-net harm label (E+), social no net harm label (S+), diamond SDG label (SDG+). This report summarizes the final project verification opinion which is based on Project Submission Form v4.0.

The Project Activity complies with all the applicable requirement of the GCC Program.

The project activity is a wind power project, which results in reductions of CO₂e emissions that are real, measurable and give long-term benefits to the mitigation of climate change. It is demonstrated that the project is not a likely baseline scenario and the emission reductions attributable to the project are, hence, additional to any that would occur in the absence of the project activity. The project correctly applies the approved consolidated CDM methodology ACM0002, version 22.0 and is assessed against latest valid PS, VS and Environment and Social Safeguards Standard and/or other applicable GCC/CDM Decisions/Tools/Guidance/Forms.

The project activity is likely to achieve the anticipated emission reductions stated in the PSF provided the underlying assumptions do not change. The expected emission reductions (annual average) from the project activity are estimated to be 604,672 tCO₂e/year over the selected fixed 10 years crediting period starting from 01/01/2026. The project activity is likely to achieve the anticipated emission reductions stated in the PSF provided the underlying assumptions do not change.

KBS Certification Services Limited (KBS) has verified and hereby certifies that the GCC project activity “Novo Horizonte Wind Project”:

a. has correctly described the Project Activity in the Project Submission Form (Version no. 3.1 Dated 07/01/2026) including the applicability of the approved consolidated methodology ACM0002, version 22.0 and meets the methodology applicability conditions, is additional and is expected to achieve the forecasted real, measurable and additional GHG emission reductions, complies with the monitoring methodology, has appropriately conducted local and global stakeholder consultation processes and has calculated emission reduction estimates correctly and conservatively;

b. is likely to generate GHG emission reductions amounting to the estimated 604,672 tCO₂e per year as indicated in the PSF, which are additional to the reductions that are likely to occur in absence of the Project Activity and complies with all applicable GCC rules, including ISO 14064-2 and ISO 14064-3, and therefore requests the GCC Program to register the Project Activity;

c. is not likely to cause any net-harm to the environment and/or society and complies with the Environmental and Social Safeguards Standard, and therefore requests the GCC Program to register the Project Activity, which is likely to achieve the requirements of the Environmental No-net-harm Label (E+) and the Social No- net-harm Label (S+). The project level impacts are identified in the PSF for the Environmental and Social Safeguarding with E+ score as +6 and S+ score as +5; and

d. is likely to contribute to the achievement of United Nations Sustainable Development Goals (SDGs), comply with the Project Sustainability Standard, and contribute to achieving a total of 7 SDGs, which is likely to achieve the Diamond SDG certification label (SDG+).