Investor Presentaiton

Energy Sector Overview Regulatory Update Energía Base modifications over time AR$ Peso Denominated Rates Capacity and energy Rates Reduced Peak Demand Premium Usage factor Removed Introduced FONINVEMEM Payments, MATER & RenovAr PPAs Unaffected Resolution 1/2019 Capacity and energy Rates according to technology, size and fuels in USD. Resolution 31/2020 was issued on February 27th, with a retroactive implementation date of February 1, 2020 ■ Rate Pesification at a Fx rate of 60 AR$/US$, with inflation adjustments on monthly basis starting in March 2020, but inflation adjustments were postponed amid covid pandemic. ■ Thermal Capacity Payments Reduced: ■ DIGO Rate reduced by 1,000 US$/MW-month Minimum Capacity Price reduced 45% ■ Hydro Capacity Payments reduced 45% New concept to recognize an additional price for the first 50 hours of maximum thermal demand during the summer & winter months and 25 hours in spring and fall. Updates prices Resolution 31/2020: 29% applied from February 2021 under Resolution 440/2021. 30% applied from February 2022 and an additional 10% from June 2022 under Resolution 238/2022. ■ Resolution 1037/2021 issued in November 2021: Adjustment by usage factor for capacity payments was eliminated and a temporary remuneration from exports to Brazil was created (Retroactive from September 2021 until February 2022) ■ Resolution 238/2022 eliminated the capacity payment adjustment by last 12 months capacity factor (usage factor). 22 aes

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