VOLUNTARY CANCELLATION CERTIFICATE

Presented to

Masaico

Project(s):

Chacayes Hydroelectric Project, Chile

Reason for cancellation

I am offsetting greenhouse gas emissions for my company

Number of units cancelled
4 CERs
Equivalent to 4 tonne(s) of CO2
Start serial number: CL-5-41999444-2-2-0-6848
End serial number: CL-5-41999447-2-2-0-6848