#1tgs- Transportadora de Gas del Sur S.A. Investor Presentation November 2023#2Shareholders and Management CIESA (Holding Co.) Pampa Energía 50% Sielecki 27.1% Safra 22.9% OWNERSHIP STRUCTURE 51% tgs Argentine Pension Fund anses 24% tgs STRONG SPONSORSHIP FROM SHAREHOLDERS • Pampa Energia is a leading energy company with upstream O&G production providing experienced support. • Sielecki group is a large player in the petrochemical and pharmaceutical industries. 5% tgs 20% Free Float NYSE BYMA SEASONED MANAGEMENT • Highly experienced management team with at least +25 years of experience in the industry. • Committed personnel with low turnover. ⚫5 independent board members out of 9. ⚫Global standards of corporate governance. ⚫Publicly listed since 1994 in NYSE and BYMA. 2#3tgs' businesses Natural Gas Transportation Regulated Business Midstream Non-Regulated Business Neuquén Neuba and Neuba II Pipelines tgs- Production, Storage and Dispatch of Liquids Non-Regulated Business Bahía Blanca San Martin Pipeline - tgs' System Telecommunication Services Non-Regulated Business 3#4tgs at a Glance tgs-> 1º Natural Gas Transportation The Largest Gas Pipeline in Latin America 60% Of the total transported in Argentina for local consumption 9,220 Km of pipelines 83.0 MMm³/Day Firm Contracted Capacity 2º Liquids Natural Gas Processor 47 MMm³/Day Natural Gas Processing Capacity 1.1MM MT Liquids Annual Production 54,000 MT Storage Capacity તે Other Services Vaca Muerta Shale Gas Transportation (182 km pipeline and 60MMm3/d transportation capacity) and Conditioning (14.8 MMm3/d capacity) Maintenance and operation of GPNK (Tratayén-Salliqueló tranche -573km) Other Midstream Services Telecommunications services Regulated (Ar$ Revenues) 4 Non Regulated (US$ Revenues)#5tgs is the backbone of the natural gas industry in Argentina tgs-> PRODUCTION Gathering and Conditioning Other Services Processing and Fractioning Storage and Dispatch Transportation Telecommunications CONSUMPTION tgs Алл + + + Transportation Liquids Midstream Telcosur Services 5 Propane Butane Ethane Natural Gasoline Distribution Power Plants Industries CNG#6The Argentine natural gas industry pluspetrol 5% Pampa 8% Pan American ENERGY 13% GBC Others 9% Noroeste 2% YPF 3% LNG 5% 26% San Jorge 8% LTM<*> NATURAL GAS PRODUCTION BY PRODUCERS (134 MMm³/D) 23% Tecpetrol 13% Source: Federal Energy Bureau - Argentina Coal 1% Hydroelectricity 3% Nuclear energy 3% Renewables 7% Oil 32% ARGENTINE ENERGY MATRIX 2022 Bolivia 5% NATURAL GAS SUPPLY BY BASINS/ SOURCE (IN %) LTM(*) Neuquina 62% Austral 18% Power plants 34% Natural gas 54% Others 6% CNG 6% LTM(*) NATURAL GAS CONSUMPTION BY TYPE OF USER 100%=111 MMm³/D Residential 23% Industries 31% Source: Federal Energy Bureau - Argentina (*) Last twelve months as of September 30, 2023. 6 Source: ENARGAS tgs-#7tgs is the largest gas transportation company in Latin America tgs NATURAL GAS TRANSPORTATION REVENUES AND EBITDA (US$MM) Revenues 410 381 EBITDA 287 EM 70% 256 67% 282 225 210 196 197 112 70% 53% 107 48% 73 37% alum 2018 2019 2020 2021 2022 LTM(*) 9% 3% 7% LTM(+) NATURAL GAS TRANSPORTATION REVENUES BREAKDOWN BY TYPE OF SERVICE (*) Last twelve months as of September 30, 2023. 81% Firm' CAU² Interruptible Others 'Generated by take or pay contracts with an average life of more than 10 years. Charge of access and use. 7 FIRM CONTRACTED CAPACITY AND DELIVERIES (MMm³/d) Firm Contracted Capacity Deliveries 81.7 82.6 82.5 82.6 83.0 83.0 69.6 66.9 64.2 68.3 68.6 67.5 2018 2019 2020 2021 2022 LTM(*) The capacity is reserved and paid regardless of actual usage by customers. 28% 10% LTM<*> NATURAL GAS TRANSPORTATION REVENUES BREAKDOWN BY CUSTOMER 4% 15% 25% Metrogas Camuzzi Pampeana Naturgy Argentina Camuzzi Sur CAMMESA Others (power plants, industries 18% and traders)#8Natural gas transportation tariff status 8 tgs- Last tariff increase under the 2017 ITR: 26% (April 2019). Emergency law (December 2019) and decrees: 1) Suspension of 2017 ITR. 2) New ITR (deadline in December 2023). 3) No mandatory capex and prohibition to pay dividend until ITR is ended. 4) ENARGAS is authorized to grant transitional tariff adjustments. March 2022: TGS was granted a 60% tariff increase. ⚫ Public hearing held on January 4, 2023 for another transitional tariff adjustment. TGS requested a 135% effective from March 2023. April 2023: 95% tariff increase starting April 29, 2023. ⚫ Pending tariff adjustment under 2017 ITR as of August 2023: 265%.#9Our assets in Bahía Blanca Cerri Complex 15 km Galván Plant tgs#10tgs is one of the largest producers of liquids in Argentina tgs LIQUIDS REVENUES AND EBITDA (US$MM) LIQUIDS PRODUCTION EVOLUTION ('000 MT) Ethane LPG Raw Gasoline 1,168 1,120 1,123 1,180 587 1,063 125 1,023 129 113 547 128 122 494 121 Revenues 441 222 174 38% 393 32% EBITDA 127 222 682 337 544 654 636 666 EM 29% 45% 124 618 32% 137 41% 2018 2019 2020 2021 2022 LTM<*> Ethane 1.1MM MT Liquids LPG Production in 2022 Natural Gasoline (*) Last twelve months as of September 30, 2023. 10 100% PBB (Dow) 397 361 353 329 415 284 2018 2019 2020 2021 2022 LTM<*> 60% Domestic Market 40% Exports 100% Exports#11The vision was to expand conditioning, keeping pace with the development of VM SAPEN tgs DRY GAS Chen WET GAS A VOLATILE OIL BLACK OIL www Im PACIFICO INTO Exa A Budere COFF SA Aguada arc-Aquada M 1st MIDSTREAMER Toro Fe Ener La Trop 182 km SAC North tranche: Ma OFT BAJ Le Block Bu 35 MMm³/d Exa Rincon Ceres of pipelines GATHERING AND TREATMENT 60 million m³/day of gathering capacity 14,8 MMm³ a day of treatment capacity 350 million US$ investment Cam Avera VYRESN IN 2019, WE PUT INTO SERVICE A HIGH-CAPACITY PIPELINE WITH A CONDITIONING MODULE Camado JOAP pen SAPEM A Songs Tone Parpe Far Nege Energy (P Orejaca South tranche: 25 MMm³/d Bandura Hodz Chege (84) Dan C ELCH F Lo Compan TYPE BA Begal Add Enerp G AgaC quadr NPESA BAPEN PEGA Margr TYPE SN B (Tab Large Our de Con mpe SAL M& Cents Coron A Burcas Medan E (O&G TYPE GAY Tratayén Conditioning Plant connection to: TGN (27 MMm³/d) TGS (44 MMm³/d) RAAPORE tra treg Fridin Aquele Pot ENG 10 (T Project in Vaca Muerta - geographic footprint#12Our assets in Neuquén TRAMO SUR 35 km 30" 97 Kg/cm³M TRAMO NORTE 32 km 30" 115 km 36" 97 Kg/cm²M tgs WE GREW IN NEUQUÉN TO RENDER MORE AND BETTER SERVICES Midstream Services: • Gathering and Treatment Services. Chevron TRATAYÉN • Services at Well Head. • O&M of Pipelines and Plants. •Works Management. Mon Meru.co San Pao Villano PLAZA HUINCUL RÍO NEUQUÉN (*) Last twelve months as of September 30, 2023. Clients: ExxonMobil GyP OILSTONE Pan American Pampa energia ENERGY pluspetrol Te VISTA YPF Tecpetroles OIL & GAS OTHER SERVICES REVENUES AND EBITDA (US$MM) 151 114 95 63% 77 73 64% Revenues 57 EBITDA 48 51 20 34 66% EM 42% 60% 2019 2020 2021 2022 LTM<*> 12#13Tratayén conditioning plant tgs 2019 Module 1 5.4 MMm³/d 2021 Expansion Mod. 1 2.4MMm³/d US$ 16 MM Total capacity: 7.8 MMm³/d 2023 Modules 2 and 3 7.0 MMm³/d US$ 32 MM Total capacity: 14.8 MMm³/d 2024 Modules 4 and 5 13.2 MMm³/d US$ 300 MM Total capacity: 28 MMm³/d 13.2 MMm³/d Convertible to extract LPG#14Presidente Néstor Kirchner pipeline construction and other expansions Conditioning Plant - Tratayén- Vaca Muerta Norte Pipeline Vaca Muerta Sur Pipeline La Carlota - Tío Pujio 120 km | 30" Centro Oeste Pipeline - TGN Salliqueló -San Jerónimo 467 km | 36" Salliqueló -Norte Pipeline - TGN Gto. Mercedes - Cardales 73 km | 30" Mercedes Loops TF 29 km | 36" Cardales tgs Business opportunities: Midstream business growth in Vaca Muerta. • Operation and Maintenance of the Tratayén - Salliqueló tranche. . Natural gas liquefaction. • Natural gas processing in Tratayén. Tratayén Tratayén - Salliqueló Processing Plant NGL Fractionating and Dispatch Bahía Blanca 563 km | 36" 14#15tgs' projects under evaluation tgs- NGL Project LNG Project • Tratayén Bahía Blanca Natural gas processing plant (46MMm3/d and 3.1MM MT annual production of LPG and raw gasoline) in Tratayén. Poliduct from Tratayén to Bahía Blanca. Fractioning and storage plants in Bahía Blanca. 15 . San Jerónimo Salliqueló Tratayén Cerri Complex Liquefaction plant - LNG Liquefaction plant - LNG. 1st Step: 2 modules - 2 mtpa - 8MMm³/d. Complete Project: 4 modules - 4 mtpa - 16MMm³/d.#16Solid financial performance Revenue evolution US$mm 904 926 894 822 781 676 EBITDA and EBITDA margin evolution US$mm 48% 49% 54% 49% 43% 38% 437 401 368 385 402 342 2018 2019 2020 2021 2022 LTM(*) 2018 2019 2020 2021 2022 LTM(*) CapEx US$mm Net Leverage 266 215 219 143 92 94 2018 2019 2020 2021 2022 LTM(*) (*) Last twelve months as of September 30, 2023. 16 1.0x 0.8x 0.2x 0.3x 0.2x -0.1x 2018 2019 2020 2021 2022 LTM(*) tgs-#17tgs' financial situation Strong cash generation. High level of cash and financial investments: US$ 601 MM as of 09/30/2023. Diversified revenues with dollar based contracts in the non regulated business. TGS US$ 500MM due 2025 (bullet): Coupon: 6.75%, payable semi-annually. • Issuance price 99.725%. • Rating CCC-/ Caa3. • Use of proceeds: 2020 Notes cancellation and Vaca Muerta Midstream project. Financial covenant: Debt/EBITDA ratio <3.5 (09/30/2023: 1.54). Amount net of repurchases: US$ 470 MM. Dividend payments: 2017 2018 US$ 114 MM 2019 US$ 169 MM and 29.4 MM treasury shares 2020 2021 2022 17 50 16 DEBT PROFILE (US$MM) tgs 501 484 23 67 7 2023 2024 2025 2026 INTL BOND LEASING BANKS#18Financial highlights D tgs 9 MONTH PERIODS YEARS US$ MM' 2023 2022 2022 2021 2020 Net revenues Natural Gas Transportation Liquids Other Services EBITDA 660 692 926 781 676 148 177 225 210 282 390 429 587 494 337 122 85 114 77 58 261 320 402 385 368 Net financial expense (15) (10) (18) (4) (154) Net income 14 156 182 204 39 Cash and Cash equivalent and other financial assets 601 465 391 244 PP&E 1,801 1,662 1,462 1,175 Other assets 167 198 174 109 Assets 2,568 2,326 2,027 1,528 Financial debt Other liabilities Liabilities 574 534 512 521 356 284 341 222 929 818 853 744 Shareholders' Equity Capex 1,639 1,508 1,174 785 170 94 143 94 92 Figures in constant pesos as of the end of each year converted at exchange rate of Banco Nación Argentina ("BNA") as of the end of each year. except for Net revenues and EBITDA, which are stated in historical pesos converted at the average exchange rate of BNA. 18#19Commitment to Sustainable Development Goals (SDGs) Priority objectives for tgs ENVIRONMENTAL CLEAN WATER AND SANITATION ENERGY 7AFORTABLE 13 A CLIMATE 12 CONSUMPTION RESPONSIBLE SOCIAL QUALITY 4 EDUCATION GENDER EQUALITY GOVERNANCE PEACE, JUSTICE 16 AND STRONG INSTITUTIONS PARTNERSHIPS FOR THE GOALS DECENT WORK AND ECONOMIC GROWTH AND PRODUCTION 19 SUSTAINABLE DEVELOPMENT GOALS ་་་ WA ወተ M Σ O tgs#20ESG Strategic Plan ENVIRONMENT STRATEGY OBJECTIVE Preserve the environment through a responsible consumption and the minimization of negative impacts in the execution of our operations. SOCIAL STRATEGY OBJECTIVE Develop safe and healthy practices. Promote diversity and equality by maintaining long lasting relationships that enable the professional development of employees. Encourage dialogue with communities. tgs❤ CORPORATE GOVERNANCE STRATEGY OBJECTIVE To manage our businesses within a framework of integrity, in an ethical, transparent and sustainable way, to generate value for our stakeholders. KEY TOPICS EMISSIONS • Emission reduction plan. • Carbon neutral analysis. ENERGY Traceable Energy Efficiency Program. WASTE, WATER AND EFFLUENTS Waste Management Plan. Biodiversity Environmental risk prevention Environmental promotion actions KEY TOPICS SAFETY AND HEALTH •Management of proactive indicators. OCCUPATIONAL HEALTH ⚫ Health promotion. WORKING ENVIRONMENT AND WELL-BEING OF PEOPLE INCLUSION, DIVERSITY AND NON-DISCRIMINATION • Preparation of the Strategic Plan. SAFETY AND HEALTH Definition, implementation and strengthening of a social investment plan. • Definition of a plan for relations with indigenous communities, in line with regulations. Employment and professional development Efficiency and quality of services and products KEY TOPICS ETHICS AND TRANSPARENCY Strengthening of due diligence on personnel. FIGHT AGAINST CORRUPTION Assessment of compliance with anti-money laundering policy and public procurement proceedings. CYBERSECURITY Implementation of a roadmap based on NIST framework. COMPLIANCE Update of the Integrity Program towards a Compliance program. RESPECT FOR HUMAN RIGHTS • Work on due diligence in the communities where we have activities to obtain the social license to operate. ESG INTEGRATION IN RISK MANAGEMENT •Sustainable value chain ESG INTEGRATION IN THE STRATEGY 20#21For additional information on tgs, please contact: tgs Leandro Perez Castaño, Finance and Corporate Information Manager Carlos Almagro, Investor Relations Transportadora de Gas del Sur S.A. (5411) 3751-5100 [email protected] Edificio Madero Office - Cecilia Grierson 355, 3rd Floor (C1107CPG) Buenos Aires, Argentina The material that follows is a presentation of general background information about Transportadora de Gas del Sur S.A. (TGS" or the "Company") as of the date of issue of the presentation. It is information in summary form and does not purport to be complete. It is not intended to be relied upon as advice to potential investors. This presentation is strictly confidential and cannot be disclosed to any other person. No representation or warranty, express or implied, is made concerning, and no reliance should be placed on the accuracy, fairness, or completeness of the information provided herein. This presentation contains information and statements that are forward-looking within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the 'Securities Act) and Section 21E of the US. Securities Exchange Act of 1934, as amended Forward- looking statements are statements that are not historical facts. These statements are only predictions based on our current assumptions, expectations and projections about future events. Forward-looking statements may be identified by the words believe, expect, anticipate target, or similar expressions. While TGS's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and are generally beyond TGS's control, and could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statements as a result of various factors. These risks and uncertainties include, but are not limited to, changing business, regulatory, political or other market conditions in Argentina and elsewhere, the completion of TGS's tariff revision process, the prospects for growth anticipated by our management, and other risks and uncertainties discussed in our reports and other documents filed with the U.S. Securities and Exchange Commission. These reports and documents may address new or different factors that may cause our results to differ materially from those in the forward-looking statements. Furthermore, TGS undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, nor makes any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained herein, and no information contained herein is, or shall be relied upon as a promise or representation that any such forward looking statements will be achieved. Management is not making any representation about the likely existence of any particular future set of facts or circumstances. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. This presentation does not constitute an offer, or invitation, or solicitation of offer to subscribe for or purchase any securities. Neither this presentation nor any information contained herein shall form the basis of any contract or commitment whatsoever. Securities cannot be offered or sold in the United States unless they are registered or exempt from registration under the Securities Act Any offering of securities to be made in the United States must be made by means of a prospectus or offering filed in connection with any such offering. 21#22tgs