Schedule IV

The Government Agency or the Local Authority will endeavor to disclose, allocate and provide for the treatment of the following risks in the Concession Agreement as may be applicable to a Project. I. Construction Period Risks: (i) Land Expropriation (ii) Cost Overruns (iii) Increase in Financing Cost (iv) Time & Quality Risk (v) Contractor Default (vi) Default by the Developer (vii) Time, Cost & Scope of identified but related Work, and variations. (vii) Environmental Damage-Subsisting\On going. II Operation Period Risks: (i) Government Agency Default. (ii) Developer Default. (iii) Termination of Concession Agreement by Infrastructure Development Authority or Government or Government Agency. (iv) Environmental Damage - Ongoing (v) Labour Risk. (vi) Technology Risk. III Market & Revenue Risks: (i) Insufficient Income from User Levies (ii) Insufficient Demand for Facility. IV Finance Risks: (i) Inflation (ii) Interest Rate (iii) Currency Risk V Legal Risk: (i) Changes in Law (ii) Title/Lease rights (iii) Security Structure (iv) Insolvency of Developer (v) Breach of Financing Documents • 31 VI Miscellaneous Risks: (i) Direct Political Force Majeure (ii) In-direct Political Force Majeure (iii) Natural Force Majeure (iv) Sequestration (v) Exclusivity (vi) Development Approvals (vii) Adverse Government Action/In Action (viii) Provision of Utilities (ix) Increase in Taxes (x) Termination of Concession by the Government (xi) Payment Failure by the Government •