Investor Presentaiton

Energy Sector Overview Electric Sector Overview Generation AES, ENEL, Central Puerto, Pampa, YPF Luz, Genneia EBISA 50+ others System operation Transmission Distribution Retail Consumption System operator (ISO): CAMMESA 45% I Residential Transener EDENOR, EDESUR, EDELAP System regulator: ENRE Transnoa, Transnea, Transpa, Transba, Distrocuyo and other independent 27% Commercial Provincial companies and cooperatives 27% I I PPAs between generators and large consumers are only allowed under "Energy Plus" program Industrial and NCRE PPAs. Majority state-owned Majority private Mixed ownership 19 aes

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