Commentary & Deal Flow

Threelands Energy Ltd S.à r.l. (“Threelands”), is a Luxembourg-based holding company that owns a 90.62% equity interest in DEOCSA and a 92.68% equity interest in DEORSA (together, “Energuate”). Energuate, represented 98.5% of Threelands’ consolidated EBITDA for the six-month period ended June 30, 2025, is the largest energy distribution company in Central America by population served, based in Guatemala. Threelands has mandated Deutsche Bank Securities, J.P. Morgan, and Santander as Joint Bookrunners to arrange a series of fixed income investor virtual meetings starting on October 7th, 2025.

A USD-denominated $330mm WNG 10nc5 144A/RegS senior unsecured offering of debt securities (the “Notes”) may follow, subject to market conditions. The new notes expected ratings are Ba3 by Moody’s and BB- by Fitch.

Threelands intends to use the proceeds from the offering of the Notes to repay in full ~US$ 329mm in outstanding loans and transaction expenses.

Santander will be coordinating logistics.

The issuer will be represented by:

1. Paulo Parra, CEO of Energuate

2. Mario Chevarria, CFO of Energuate

3. Felix Arenas, Manager of Threelands & VP at InfraCorp

4. Rodrigo Sattui, VP at InfraCorp

Investor Login Details

URL: https://dealroadshow.com

Entry Code: THREELANDS2025

Direct Link: https://dealroadshow.com/e/THREELANDS2025