Investor Presentaiton

AES Argentina External Environment Energy Sector Update Almost 70% of the system is Energia Base POWER MARKET CAMMESA is delaying the payments GAS MARKET (Vaca Muerta) TARIFFS GENCOSS tariff continue to be critical for the availability of the power sector The lack of expansion of the transmission lines is a bottleneck to develop the system. Total NQN Production: +0.2% 1Q-2023 (83.3 Mcmd) vs 1Q-2022 (83.1 Mcmd) (*) 1Q-2022 25% 54% 21% 1Q-2023 20% ■ Non conventional Shale NG 18% 62% ■ Non Conventional Tight NG ■ Conventional NG Market segmentation strategy to decrease subsidies to Power and NG sectors. Y-2023 estimated deficit 11 BUSD (**) (*) Public data Secretary of Energy (**) EyE consultant 15

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