Good morning and welcome to Central Puerto Conference Call, following the results announcement for the Third Quarter ended on September 30, 2022. All participants will be in listen-only mode. After today’s presentation, there will be an opportunity to ask questions. Please note, this event is being recorded. If you do not have a copy of the press release, please refer to the Investor Support section on the company’s corporate website at www.centralpuerto.com. A replay of today’s call may be accessed by accessing the webcast in the Investor Support section of the Central Puerto corporate website. Before we proceed, please be aware that all financial figures were prepared in accordance with the IFRS and are stated in Argentinian pesos, unless otherwise noted. It is worth noting that the financial statements for the third quarter ended on September 30, 2022, include the effects of inflation adjustments. Accordingly, the financial figures mentioned during the call, including the data from previous periods and the growth comparisons, have been stated in terms of Argentine pesos at the end of the reporting period. Also, please note that certain statements made by the company during this conference call are forward-looking statements, and we refer you to the forward-looking statements section of our earnings release and recent filings with the SEC. Central Puerto assumes no obligation to update forward-looking statements, except as required under applicable securities laws. To follow the discussion better, please download the webcast presentation available on the company’s website. Please be aware that some of the numbers mentioned during the call may be rounded to simplify the discussion. On the call today from Central Puerto is Fernando Bonnet, Chief Executive Officer; and Federico Bozhori, Financial Controller. And now I will turn the call over to Federico Bozhori. Mr. Bozhori, you may begin.

Thank you very much. Good morning and welcome. We are joining you today with our management team from our site in Argentina to report the results for the third quarter of 2022. After the presentation, we will answer any questions you may have. I would like to begin today’s call by analyzing the recent events, the industry in general, and finally, the operating figures of the third quarter of 2022. I would like to mention the following updates regarding Central Puerto. Central Puerto successfully bid in CAMMESA’s auction for 10 megawatts of dispatch priority for our Parque Solar San Carlos Project under the MATER framework located in San Carlos, Salta province. Regarding the Brigadier López plant, Central Puerto is negotiating with an engineering company expecting to start the work related to the completion of the combined cycle power plant from the first quarter of 2023 on. A fixed rating subsidiary decided to modify the long-term issuer debt rating of the company from Category A+ with a stable outlook, high-grade quality to category, AA- with a stable outlook, very high-grade quality. On October 13 of 2022, the company’s Board of Directors approved the acquisition of shares issued by the company. The maximum payable price for the shares will be US$5.4 per American Depository Receipt on the New York Stock Exchange, up to a maximum of Ps167 per share in the Ares Stock Exchange. On September 30 of 2022, the shareholders of Central Puerto decided to amend Section 4 of the company bylaws regarding incorporated purpose with the aim of not only having as primary line of business, energy generation, and to broaden the scope and consider other industries such as mining, forestry, and agriculture. Now I would like to comment on the main metrics of the industry. As you can see on Page 3. In terms of installed capacity, the system reached 42,899 megawatts compared to 42,589 megawatts in the third quarter of 2021, resulting in a 1% increase mainly based on new renewable projects developed. As of September 30 of 2022, the installed capacity continued to be 59% thermal, 25% hydro, 12% renewable, and 4% nuclear. In the third quarter of 2022, energy generation decreased 10% to 33,452 gigawatts compared to 37,059 gigawatts in the third quarter of 2021, mainly due to: first, 21% decrease in thermal; second, 19% decrease in nuclear, partially offset by an increase of 13% hydro and 3% in renewable. The thermal decrease was mainly due to a lower dispatch related to an increase of hydro dispatch and minor to a lower availability of certain machines. Regarding the generation from nuclear source, the decrease was related to the shutdown maintenance of Atucha I and Embalse nuclear power plants and a technical problem with the previous equipment. In contrast, the increase in hydro generation is mainly related to the increase in river flows that softened the drought that the region experienced last year. As for the renewable energy, the increase in generation was attributed to an increase in the installed capacity and its subsequent energy demand. During the third quarter of 2022, the main sources of energy generation continued to be thermal and hydro with a share of 57% and 22% respectively while renewables were 14% and nuclear was 7%. Finally, energy demand increased 1% up to 34,730 kilowatts compared to 34,454 kilowatts in the third quarter of 2021 where commercial demand grew 5% and residential demand decreased 1%. As of the third quarter of 2022, the demand structure was 46% represented by residential users, 27% by commercial activity, and the remaining 27% related to large industrial/commercial demand. Going now to our key performance indicators for the quarter, as you can see on Page 5, energy generation during the third quarter of 2022 was 3,932 kilowatt, 14% higher than the same period of 2021. The increase was mainly caused by first, a 17% increase in energy generation from thermal units, mainly from CAMMESA due to high dispatch related to the combined cycle's full operation and higher dispatch of the Puerto steam turbine, partially offset by the external maintenance in 2022 outlook on the Puerto power generation. Second, a 21% increase in energy generation from the hydro plant in Piedra del Águila due to higher water flows of the Limay River compared with the third quarter of 2021. Third, an 8% decrease in energy generation from renewable units due to less wind resources and minor failures in some wind turbines. Regarding the reliability of our thermal unit during the third quarter of 2022, it reached 81% in line with the strong availability history of Central Puerto’s equipment. For reference, the market average availability for thermal units for the third quarter of 2022 was 78%, according to data from CAMMESA. Steam production increased 90%, totaling 568,557 tons produced during the third quarter of 2022 compared to 298,997 tons during the third quarter of 2021 due to the commissioning of the Terminal 6 cogeneration plant. And now I will comment on the results of the third quarter of 2022. Going now to the results for this quarter, as you can see on Page 7, our revenues were Ps.20.3 billion as compared to Ps.24.3 billion during the third quarter of 2021. This 17% decrease was mainly due to first, a 35% decrease in specific operations which totaled Ps.7.5 billion in the third quarter of 2022 as compared to Ps.11.5 billion in the third quarter of 2021, due to higher inflation than the price adjustment and scale maintenance of certain operations. Second, a 2% decrease in sales and contracts, which amounted to Ps.11.2 billion during the third quarter of 2022 as compared to Ps.11.4 billion in the third quarter of 2021, due to a higher inflation adjustment over the phase of depreciation in the period. Additionally, it was impacted by a termination of the Brigadier López PPA contract in August 2022, partially offset by increases in sales due to terminal sales combined cycle competition, partially offset by a 15% increase in steam sales, which totaled Ps.0.9 billion in the third quarter of 2022, compared to Ps.0.8 billion in the third quarter of 2021 due to a 90% production increase. Going to Page 7, we can see the changes in our EBITDA including impairment and falling FX difference and interest, which was Ps.13.8 billion in the third quarter of 2022 compared to Ps.11.8 billion in the third quarter of 2021. This 16% increase was driven by the following changes. First, a 13% decrease in revenues expense before partially offset by a 13% decrease in the cost of sales that totaled Ps.11.1 billion compared to Ps.12.7 billion in the third quarter of 2021, mainly due to a decrease in amortization charge, decrease in maintenance expenses, and decrease in insurance costs.

Okay, thank you, Martin for your questions. Yes, we can go one by one. The first one regarding the concession of the Piedra del Águila hydro plant. We have been talking with the government and the new Secretary of Energy about that. They are still getting in place because they assumed a few months ago. So they are analyzing the point. They have a perhaps different approach from the previous Secretary of Energy. So they want to analyze indeed all the consequences that come with extending the concession, not extending it, which is related to the claims that all the owners of the concession have related to the freezing of the prices and the restriction to contract the electricity of those power plants that was allowed in the original concession. So they are analyzing this, and they will come to us with a conclusion perhaps early in the beginning of the year or early next year. But today we don’t have any insight about how they are going to proceed. We assume that or we can assume that whenever the time of the finalization gets close, perhaps they will use that one year extension that you mentioned as a gaining time to finalize the analysis. But we don’t have any concrete information yet. Okay. In terms of Brigadier Lopez, as Federico mentioned, we are working with an EPC provider, an engineering company to close the cycle. And with Siemens also, which is the steam provider. We don’t have yet the timing of the closing. We expect to have a closed contract with them at the end of the year or the beginning of next year. So we can expect a timing for the completion to be between 22 months and 24 months from that when we close the contract. So that could be the timing. We don’t have yet the confirmation because as I mentioned, we don’t close the deal. But you can consider that timeframe of 22 to 24 months after we sign the contract. Regarding the PPA for Brigadier Lopez, once we close the combined cycle, we will start receiving a PPA for the steam turbine, while the gas turbine PPA finished in August of this year. So right now the GTs are receiving the base payment, but whenever we close the combined cycle, we will start receiving a PPA for 10 years related to the steam turbine. The PPA is around $22,000 per megawatt capacity. In terms of the steam device, we do need to do some maintenance to keep them operating, and we expect to have some maintenance related to the T6, the Steam Terminal 6, and we anticipate having maintenance on our combined cycle, not next year but the year after in 2024. We are discussing with the government additional remuneration to perform that maintenance, especially the combined cycle, which implies a life extension. So we need to perform maintenance in the boiler and big maintenance in the boiler. We are talking with the government related to an additional remuneration to cover that life extension maintenance. It’s the same case for all the combined cycles that were installed in the late ‘90s and early 2000s. All these combined cycles are reaching their lifetime limit, so they need an extension, and as a result, all the generators are working together. We will request remuneration or additional remuneration to cover those maintenance needs. The combined cycle of Mendoza has its lifetime extension coming in 2025, so we are not expecting significant maintenance on this combined cycle for the next two years. Yes, that is under analysis. We are providing all the information and consideration related to that to our shareholders and it's a possibility. It’s not finalized yet, but we need to discuss that with our shareholders. However, Central Puerto does have positive cash flow generation, so it remains a possibility.

Thank you very much. We’ll now begin the question-and-answer session. Your first question is coming from Martin. Martin, your line is live.

Hi. Well, first of all, thank you for the materials, as always. I have four questions. Sorry for the extent, I would like to go over them one by one if that’s okay. My first question is that if we are not mistaken, there have been some extensions on hydroelectric power plants concessions to 2025. If you could give us any updates on the discussions regarding Piedra del Águila and if you think that you will see a similar extension. Okay. Very clear. Well, my second question then is about the Brigadier Lopez project. If you could comment on unexpected COD and the price for energy and capacity payments? And for energy? And finally, if I understand correctly, do you see a need for real catch-up on maintenance or is there still room to go less as we have been going these couple of years? Okay. So if I understand correctly, it’s like an additional payment only for maintenance and does not imply that you’re expecting less remuneration to go about inflation, is that right? Okay. Very helpful. And my last question then is if you are considering paying dividends next year?

Thank you for your question.

The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.