#1Investor Presentation March 2024 Central Puerto $#2* Disclaimer Additional information about Central Puerto can be found in the Investor Support section on the website at www.centralpuerto.com. This presentation does not contain all the Company's financial information. As a result, investors should read this presentation in conjunction with Central Puerto's consolidated financial statements and other financial information available on the Company's website. This presentation does not constitute an offer to sell or the solicitation of any offer to buy any securities of Central Puerto or any of its subsidiaries, in any jurisdiction. Securities may not be offered or sold in the United States absent registration with the U.S. Securities Exchange Commission or an exemption from such registration. Our financial statements and other financial information included in this presentation, unless otherwise specified, are stated in Argentine Pesos. However, we presented some figures converted from Argentine Pesos to U.S. dollars for comparison purposes only. The exchange rate used to convert Argentine Pesos to U.S. dollars was the reference exchange rate (Communication "A" 3500) reported by the Central Bank for U.S. dollars for the end of each period. The information presented in U.S. dollars is for the convenience of the reader only and may defer in such conversion for each period is performed at the exchange rate applicable at the end of the latest period. You should not consider these translations to be representations that the Argentine Peso amounts actually represent these U.S. dollars amounts or could be converted into U.S. dollars at the rate indicated. Rounding amounts and percentages: Certain amounts and percentages included in this presentation have been rounded for ease of presentation. Percentage figures included in this presentation have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this presentation may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this presentation may not sum due to rounding. This presentation contains certain metrics, including information per share, operating information, and others, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies. Such metrics have been included herein to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods. Cautionary Statements Relevant to Forward-Looking Information This presentation contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to in this presentation as "forward-looking statements") that constitute forward- looking statements. All statements other than statements of historical fact are forward-looking statements. The words "anticipate," "believe," "could," "expect," "should," "plan," "intend," "will," "estimate" and "potential," and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition, expected power generation and capital expenditures plan, are examples of forward-looking statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The Company assumes no obligation to update forward-looking statements except as required under securities laws. Further information concerning risks and uncertainties associated with these forward-looking statements and the Company's business can be found in the Company's public disclosures filed on EDGAR (www.sec.gov). Adjusted EBITDA In this presentation, Adjusted EBITDA, a non-IFRS financial measure, is defined as net income for the period, plus finance expenses, minus finance income, minus share of the profit (loss) of associates, plus (minus) losses (gains) on net monetary position, plus income tax expense, plus depreciation and amortization, minus net results of discontinued operations, excluding impairment on property, plant & equipment, foreign exchange difference and interests related to FONI trade receivables and variations in fair value of biological asset. The Adjusted EBITDA may not be useful in predicting the results of operations of the Company in the future. Adjusted EBITDA is believed to provide useful supplemental information to investors about the Company and its results. Adjusted EBITDA is among the measures used by the Company's management team to evaluate the financial and operating performance and make day-to-day financial and operating decisions. In addition, Adjusted EBITDA is frequently used by securities analysts, investors and other parties to evaluate companies in the industry. Adjusted EBITDA is believed to be helpful to investors because it provides additional information about trends in the core operating performance prior to considering the impact of capital structure, depreciation, amortization and taxation on the results. Adjusted EBITDA should not be considered in isolation or as a substitute for other measures of financial performance reported in accordance with IFRS. Adjusted EBITDA has limitations as an analytical tool, including: . Adjusted EBITDA does not reflect changes in, including cash requirements for, our working capital needs or contractual commitments; ⚫ Adjusted EBITDA does not reflect our finance expenses, or the cash requirements to service interest or principal payments on our indebtedness, or interest income or other finance income; ⚫ Adjusted EBITDA does not reflect our income tax expense or the cash requirements to pay our income taxes; ⚫ although depreciation and amortization are non-cash charges, the assets being depreciated or amortized often will need to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for these replacements; ⚫ although share of the profit of associates is a non-cash charge, Adjusted EBITDA does not consider the potential collection of dividends; and ⚫ other companies may calculate Adjusted EBITDA differently, limiting its usefulness as a comparative measure. The Company compensates for the inherent limitations associated with using Adjusted EBITDA through disclosure of these limitations, presentation of the Company's consolidated financial statements in accordance with IFRS and reconciliation of Adjusted EBITDA to the most directly comparable IFRS measure, net income. For a reconciliation of the net income to Adjusted EBITDA, see the tables included in this release. For more information see "Adjusted EBITDA Reconciliation" below. 2#3I Who we are With over 100 years of history, Central Puerto has evolved to become the largest private Argentine generation company both in installed capacity and power generation. Shareholder's structure: Federal Government. Prov. Of Neuquen 5% ANSES 3% 10% Free Float 82% CEPU LISTED NYSE BYMA Bolsas y Mercados Argentinos 3#4S I Central Puerto at a glance 7,173 MW of installed capacity (1) (2) through a well diversified generation portfolio operating 14 Power Plants Spot portfolio (2) Renewables portfolio 2,553 ... 374 MAN thermal assets 1,440. hydro assets° Thermal PPA portfolio 438 long term PPA MW MW wind assets 105MW solar assets 1MW mini-hydro assets Foninvemen program 2,584 MW thermal assets largest private participant with equity stake in 3 combine cycles US$254.com total outstanding receivables 21 TWh generated in 2023. Market share: 15% (total SADI) / 20% (private Gencos) Forestry Business segment 160,453,a. In Entre Ríos and Corrientes with ~71,000 hectares planted with eucalyptus and pine Natural Gas Distribution & Transportation 41% stake in DGCE ECOGAS 22% stake in DGCU MW Fully contracted: Renov.AR and MATER PPAs monthly collections until May-28. TGM MW Res.59/23 (1) 2,262 20% stake 15% market share (1) Source CAMMESA - corresponds to the total theoretical power of each asset. On February 22, 2024, it was published in the Official Gazette of the Republic of Argentina, the request submitted by Central Costanera for the decommissioning of steam generation units COSTTV04 and COSTTV06, for a total installed capacity of 120 MW and 350 MW, respectively (2) For more information, please refer to slide 18 "Annex 1 - Regulatory framework". 4#5Key Financial Figures Revenues (1) (US$mm) ■Spot market revenues Sales under contracts Steam sales Other Adj.EBITDA + FONI collections (US$mm) Adj. EBITDA FONI Collections • Adj. EBITDA margin S 606 566 537 445 510 121 27 456 26 369 362 390 69 343 73 301 223 72 75 376 66 271 220 317 297 287 277 464 52% 209 211 224 267 49% 63% 66% 62% О 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 CAPEX (US$mm) 595 Debt (US$mm) 646 606 1.7x 1.5x Net Debt Gross Debt Net Debt/ Adj.EBITDA 415 358 214 1.0x 158 138 493 435 73 44 0.3x 0.2x 287 92 70 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 (1) Sales under resolution 59 are included in Spot sales. For more information, please refer to slide 18 "Annex 1 - Regulatory framework". 5#6₪23 +70% Adj. EBITDA contribution by regulatory framework of Operating Cashflow is secured by long term contracts in dollars with protection mechanisms 12% - PPA MATER (1) 19% - PPA RenovAr (2) 29% PPA Thermal Units 29% PPA Res. 59 (3) 5 years -term Contracts partially set in US$ dollar 11% Legacy - Spot 2023 60% of Adj.EBITDA Through long term contracts, with prices set in US$ dollars +US$ 66 MILLION Collections (only principal) under CVO during 2023*° CVO receivables to be collected total approximately US$253 million, as of September 30, 2023, and accrue interest at a 30 days LIBOR rate + 5%, to be collected in 53 monthly principal installments until May 2028. Collections protected by reserve accounts mechanisms PPAs directly with private clients Backed by reserve fund financed by the World Bank (FODER) The percentage represents the total EBITDA generated by the combined cycles under Res 59. For more information, please refer to slide 18 "Annex 1 - Regulatory framework". 6 S#7Well diversified portfolio of generation assets Assets in Operation Technology Power Capacity (MW) Remuneration (MW) (3) PPA term Installed (1) Available (2) Spot PPA 7 Central Costanera(4) Thermal 2,259 1,692 590 1,102 2028 2 Central Puerto (4) Thermal 1,747 1,645 898 748 2028 3 Piedra del Águila Hydro 1,440 1,440 1,440 9 6 5 4 Luján de Cuyo (5) Thermal 576 562 453 109 2029-2034 11 10 12 12 Cogen 5 San Lorenzo Thermal 391 366 36 330 2035 Cogen 8 3 6 Brigadier Lopez Thermal 281 280 280 7 Genoveva I & II Wind 130 130 130 2040/2029 8 La Castellana I & II Wind 116 116 116 2040/2034 9 Guañizul II A Solar 105 105 105 2041 10 Manque Wind 57 57 57 2040 77 Achiras I Wind 48 48 48 2040 12 Los Olivos Wind 23 23 23 2030 Total 7,173 6,464 3,697 2,768 GEOGRAPHIC FOOTPRINT 12515 (2) Source CAMMESA, corresponds to the total theoretical power of each asset. Net available power capacity reported to CAMMESA MW over available capacity (4) (5) PPA refers to the Res. 59/23 - For more information, please refer to slide 18 "Annex 1 - Regulatory framework". The facility Includes 290 MW of combined cycles, 95 MW of cogeneration, 190 MW of gas/steam turbines and 1 MW of mini-hydro 7#8Continuously expanding and diversifying our operated portfolio Installed Capacity() (MW) +3,535 MW incorporated through greenfield and M&A 2023 portfolio by technology ■Thermal ■Hydro Renewbables 4,809 3,638 4,218 7,173 2017 Thermal: . Puerto Complex . Lujan de Cuyo Hydro: . Piedra del Aguila 2019 Thermal: Puerto Complex Lujan de Cuyo . San Lorenzo Brigadier Lopez Hydro: Piedra del Aguila Renewables: . Achiras .La Castellana I & II La Genoveva II . Manque 2021 Thermal: Puerto Complex Lujan de Cuyo . San Lorenzo Brigadier Lopez Hydro: Piedra del Aguila Renewables: .Achiras La Castellana I & II La Genoveva I & II Manque Los Olivos 2023 Thermal: Puerto Complex Lujan de Cuyo . San Lorenzo Brigadier Lopez . Central Costanera Hydro: Piedra del Aguila Renewables: . Achiras La Castellana I & II La Genoveva I & II Manque Los Olivos Guañizul II A (1) Source CAMMESA. Corresponds to the total theoretical power of each asset. 5% 1% 20% 60% 13% ■ Thermal ■ Cogeneration ■ Hydro ■ Wind ■ Solar 8 S#9We are the leading private power generation company in Argentina Local Energy Demand (TWh) (1) 13.6 13.1 14.0 13.1 13.0 12.6 12.5 29% 2.1 11.9 11.7 11.811.8 11.3 11.8 10.9 11.0 10.5 11.0 0.8 10.6 10.3 10.2 1010.0 13% 4% 0% (1%) (1%) (8%) (8%) 6% 2% (2%) Market Share FY2023(1)(2) Central Puerto 50% 1% 3% 2% 15% (20.1 TWh) 14% 6% Pampa energía aes 7% 3% YPF LUZ (10% Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 ALBANESI GeNela enel MSU Energy 2022 =d Source CAMMESA (2) Energy Generation of total SADI 2023 % 23 vs 22 9 S#10Availability of thermal units²) =2 (2) Steam & Gas turbines (%) 96% 88% 62% 2020 96% 86% 95% 93% 77% 74% 78% 65% 68% 50% 2021 2022 ■Puerto Complex Lujan de Cuyo ■Brigadier Lopez Combined Cycles (%) 89% 91% 93% 75% 2020 35% 2021 2023 Costanera 88% 93% 91% 91% 97%99% 69% 2022 2023 ■Puerto Complex Lujan de Cuyo San Lorenzo Costanera Complex Availability reported by CAMMESA, calculated based on the total installed capacity of each power plant. Central Costanera figures does not consider the power capacity values of the steam generation units COSTTV04 and COSTTV06 for a total installed capacity of 120 MW and 350 MW, respectively S 10#11Brigadier López Closing cycle project The project contemplates the addition of a boiler and a steam turbine to the existing dual fuel Siemens gas turbine of 292 MW, increasing the plant's capacity by 140MW, reaching a total installed capacity of 432 MW, enough to supply more than 300,000 homes throughout the country. Estimated CAPEX: US$150 mm. Steam turbine remuneration: 10-year PPA with CAMMESA Estimated recurring EBITDA: ~US$60 mm. 292 MW Gas Turbine + Steam Turbine + Res.59 for gas turbine + Efficiency and higher dispatch 432 MW +140 MW Combined Cycle 11#12The largest private player in the FONI Program, with 2,554 MW combined cycle plants Facilities San Martín 865 MW combined cycle COD: 2010 Transfer: 2020 Manuel Belgrano 873 MW combined cycle COD: 2010 Transfer: 2020 Vuelta de Obligado 816 MW combined cycle COD: 2018 Transfer: 2028 Shareholders Arg. Gov. 69% 10% Other 6% 11% Central Puerto 4% enel AES thepo of hea Arg. Gov. Other 11% 65% 12% Central Puerto 7% 5% enel AES the power of bein Other 43% 57% Central Puerto US$ 253 million to be collected (SOFR+spread) Central Puerto has a control stake in the operating company S 12#13Renewables Energy Portfolio Technology Capacity Capacity factor(2) Status COD Renovar Program La Castellana I Achiras Wind Farm Term Market (MATER) La Genoveva I Guañizul II A La Castellana II Manque Wind Farm Wind Farm 100.8 MW 48 MW 45.2% 49.5% Solar farm Wind Farm Los Olivos Wind Farm Wind Farm 88.2 MW 104.6 MW 15.2 MW 57 MW 50.4% 33.0% 54.1% 49.1% 22.8 MW 52.9% S La Genoveva II Wind Farm 41.8 MW 50.2% In Operation In Operation In Operation In Operation In Operation In Operation In Operation August 2018 September 2018 November 2020 July 2021 July 2019 Dec-19/Jan-20 February 2020 In Operation September 2019 Equipment 32 Units 15 Units 21 Units 358,560 Units 4 Units 15 Units 6 Units 11 Units Awarded Price Starting Adjustments 61.5 US$/MWh 59.4 US$/MWh 40.9 US$/MWh 50.0 US$/MWh PPA Signing Date Annual adjustment factor + incentive factor January 2017 Main clients under MATER: May2017 July 2017 July 2021 CERVECERÍA Term 20 years starting on COD aysa DOW Y MALTERÍA QUILMES SCANIA R Carrefour 1. Equity stake in wind farms La Castellana I, Achiras I, La Genoveva I, La Castellana II, Manque, Los Olivos, La Genoveva II, owned through CP La Castellana S.A.U., CP Achiras S.A.U., Vientos La Genoveva S.A.U., CPR Energy Solutions S.A.U.; CP Manque S.A.U., CP Los Olivos S.A.U. and Vientos La Genoveva II S.A.U, respectively. 2. Calculated from CAMMESA data as total energy generated over theoretical energy production, for the quarter ended sept-23. It includes losses and scheduled and non-scheduled maintenance. 13#14Central Puerto has become the largest forestry player in Argentina Forestry asset's location The future development of the industry will allow the group to explore new business models focusing on increasing and diversifying revenue sources, generating exports, and evaluating the feasibility of developing carbon credits and energy generation from biomass. 160.453 hectares (1) distributed in: Forest Lands Eucalyptus Pine 20.293 Ha. 26.049 Ha. 44.880 Ha. Natural 58.195 Ha. Reserves Property 11.037 Ha. Infrastructure 1 2 3 San Miguel Concepción Saladas San Roque La Cruz Paso de los Libres Virasoro❤ 78% of the total forestry area 1. San Miguel Concepción Saladas San Roque 2. Virasoro 3. La Cruz Paso de los Libres Concordia Concordia Forestal Argentina 14#152023 Key Figures(2) Installed Capacity(3) Energy Generation Revenues Adj.EBITDA (4) Net Income MW GWh US$ US$ US$ 7,173 20,774 537.com 277mm mm +49% Y/Y +19% Y/Y (5%) Y/Y (25%) Y/Y (82)% Y/Y 193 mm Net Debt US$ 164mm +217 mm vs Dec-22 (1) The results presented for the annual period 2023 are negatively affected, at a non-cash level, as a consequence of the sharp devaluation of the local currency occurred in mid-December, in Central Puerto's accounting methodology. Given that the functional currency of the company is the Argentine peso, our Financial Statements are subject to inflation adjustment, while Company's figures are converted into US dollars using the end of period official exchange rate. Thus, given the significant disparity between inflation and devaluation for the period, it might affect comparability". (2) The FX rate used to convert Argentine Pesos to U.S. dollars is the reference exchange rate (Communication "A" 3500) reported by the Central Bank for U.S. dollars as of Dect-31st of AR$ 808.48 to US$1.00. FY23 figures are the sum of the quarterly results converted to dollars at the EOP FX rate of each period. (3) On February 22, 2024, it was published in the Official Gazette of the Republic of Argentina, the request submitted by Central Costanera for the decommissioning of steam generation units COSTTV04 and COSTTV06, for a total installed capacity of 120 MW and 350 MW, respectively. (4) See Disclaimer-EBITDA & Adjusted EBITDA" on slide 2 for further information. 15#16Low leverage ratio and manageable short-term maturities Debt Maturity schedule(1)(2) (US$ mm.) 123.8 50 82.1 FY24: 58.9 47 64 81.5 56 19.8 14.4 16.1 30.0 30.1 29.0 23 17 18 18 8.6 12 12 14 26 26 8 6.1 9 12 12 12 12 1Q24 2Q24 3Q24 4Q24 2025 2026 2027 2028 2029 (+)2030 Corporate Loan Project Finance Debt Securities (1) As of December 31st, 2023. (2) Considers only principal maturities. Does not considering accrued interest. (3) Net Debt/ Adj. EBITDA = US$286.8 mm / US$276.8 mm S Net Debt/ Adj. EBITDA (3) 1.0x 14#17Thank You $ Central Puerto Investor Presentation March 2024#18Annex 1 Regulatory Framework Resolution No. 59/2023 (Feb-23) This resolution was designed to encourage investments for major and minor maintenance activities of combined cycles. Generators have to achieve at least 85.00% availability of average monthly power in exchange for a new power and generation price in both U.S. dollars and Argentine pesos. In the case of power, the price was set at 2,000 USD/MW-month plus (i) 85.00% of the remuneration of power set forth in Resolution No. 869/23 in Argentine pesos (during spring and autumn) or (ii) 65.00% of the remuneration of power set forth in Resolution No. 869/23 in Argentine pesos (during summer and winter). In the case of energy, the price was set at 3.5 USD/MWh for units that use gas and at 6.1 USD/MWh for units that use alternative fuels. Resolution SE N°621/2023 (Jul-23) Announcement of a new tender process for the addition of new thermal capacity and the replacement of existing one. Central Puerto and other participants submitted offers on September 25th and are awaiting the definition of CAMMESA Central Puerto: 312 MW offered. Central Costanera: 516 MW offered. (awarded) The TerConf bidding process is currently under review of the new administration. Resolution SE N°869/2023 (Nov-23) Energy and capacity prices update for legacy units by 28% since November. Resolution SE N°750/2023 (Sep-23) Energy and capacity prices update for legacy units by 23% since September. Resolution SE N°9/2024 (Feb-24) Energy and capacity prices update for legacy units by 74% since February 18#19Contact Us LinkedIn Acc Central Puerto Phone Number (5411) 4317 5000 Web/E-mail www.centralpuerto.com [email protected] Location Av. Tomas Alva Edison 2701 Dársena E Puerto de Buenos Aires. Central Puerto Investor Presentation March 2024