Central Puerto Sa · BCBA:CEPU
Central Puerto Sa — 2Q 2026 Earnings Presentation
24 slides from Central Puerto Sa's earnings presentation, September 2026
Slide 1: Investor Presentation
Investor Presentation September 2026
Slide 2: Disclaimer
Disclaimer Additional information about Central Puerto can be found in the Investor Support section on the website at www.centralpuerto.com. This presentation does not contain all the Company’s financial information. As a result, investors should read this presentation in conjunction with Central Pu
Slide 3: Who we are
Who we are Established in 1992 as a privately -owned company, 100% of our shares are listed on the Buenos Aires Stock Exchange (BYMA) under the regulatory framework of the CNV (Argentina's Securities Commission), and on the New York Stock Exchange (NYSE) under U.S. SEC regulations (since February 20
Slide 4: Central Puerto at a glance
Central Puerto at a glance Adjusted EBITDA Installed capacity Generation in 2025 Revenues 2 Q LTM • Stronger EBITDA from CEPU’s 6 ,933 MW 18,603 GWh US $ 1.1 Bn 1H 2026 exposition to market Adj. EBITDA (1) normalization ( Resol 400 / 25 ) . • Additional margin from gradual 16 power generation 15.9 %
Slide 5: Central Puerto 2nd quarter 2026
Central Puerto 2nd quarter 2026 ( 1) Commercial Adjusted EBITDA Revenues Total generation • MAT 400 leadership supported by strong contract coverage : US $ 145 .0 MM US $ 453 .3 MM 5 ,250 GWh • Average MAT market share Includes US $ 176.4 MM Spot 15% of SADI generation + 35 % in 2Q 26 . CVP of self
Slide 6: 2Q26 Total generation & CEPU commercial development
2Q26 Total generation & CEPU commercial development Total Argentina’s system electricity generation Total MAT Res.400 sales 2Q26 Total Total energy offer 36,724 Central Puerto held +35% of total energy offer Energy imports + 1,770 MAT Res.400 market share in 2Q26 (GWh) Local generation 34,954 MAT sa
Slide 7: 2026 Capex plan & 205 MW BESS projects progress
2026 Capex plan & 205 MW BESS projects progress Total CAPEX (6M 2026) BESS execution milestones achieved Central Costanera BESS project BESS projects update US$ 421.9 MM • 55 MW. Lithium (LFP). Contemporary Amperex Technology Co., Limited (CATL) 1H 2026 total CAPEX • Offtaker : Edesur • Construction
Slide 8: Delivering results through the years
Delivering results through the years Central Puerto’s historical performance Revenues (US$ MM) Adjusted EBITDA (US$ MM) (Revenue mix by type of sale) and annual outstanding FONI credit collections 782.6 671.3 701.9 69 73 54 566.1 536.9 74 510.2 392.6 66 32 271.0 321.6 271.0 301.0 223.0 376.3 316.9 2
Slide 9: Availability rates of thermal units
(1) Availability rates of thermal units Combined Cycles (%) 93% 97% 100 91% 99% 99% 96% 91% 88% 92% 86% 86% 93% 90% % 94% 84% 91% 79% 79% 68% 58% 50% Since 2023 Central Puerto complex Central Costanera complex Lujan de Cuyo San Lorenzo Steam & Gas turbines (%) 96% 95% 93% 97% 2021 86% 75% 76% 67% 70
Slide 10: Concession extension Piedra del Águila hydro plant
Concession extension Piedra del Águila hydro plant Central Puerto was awarded the Piedra del Águila concession for 30 years, with a bid of US$ 245 million. • New energy and capacity prices: 1,733 US$/MW - month affected by maintenance hours and available capacity. Energy: 3.5 US$/MWh (when dispatche
Slide 11: Power market normalization initiated
Power market normalization initiated Resolution 400/25 (Oct 21, 2025) outlines a gradual roadmap to liberalize Argentina’s Wholesale Electricity Market (WEM), progressively reintroducing long -term value creation, contracts and competitive dynamics. Resolution 400/25 key aspects CEPU Check list • Co
Slide 12: Leading power generation portfolio
Leading power generation portfolio CEPU Installed capacity Location Spot, contracts and Asset overview Plant Technology commercial operating (MW) (Province) PPA exp. date Geographic date footprint Thermal Spot Resol 400/25/ 1 Central Costanera (2 CC + 4 ST) 1,789 City of Buenos Aires Feb.23 Contract
Slide 13: Consistent growth of installed capacity
Consistent growth of installed capacity Installed capacity growth (in MW) (1992-2000) (2018) (2020) (2023) (2025) 2025 • Central Puerto & • Luján de Cuyo CC (+95 • Wind farms: La • Central Costanera • Closing of B. Lopez CC Installed capacity breakdown by Puerto Nuevo ⁽¹⁾ MW) Genoveva I, Manque, (1,
Slide 14: Strong balance sheet and financial flexibility
Strong balance sheet and financial flexibility Financial debt maturity profile and ratios Finance update Financial debt maturity profile As of June 30, 2026 Debt capital markets activity – Local bonds issued 217.1 (in US$ MM) 178.4 176.4 • April 2026 – Class D Notes: US$130.1 MM, 6.0%, 48 - month bu
Slide 15: 2025 Argentina power market summary
2025 Argentina power market summary Demand & Generation Overview Annual electricity generation Annual electricity demand Total 2025: 142,789 GWh Domestic generation breakdown • In 2025, the system reached a historic peak capacity of 30,257 MW on February 10 , surpassing the previous record. Hydro ,
Slide 16: Appendix
•New spot prices, Resol. 400/25 Appendix •Historical financial summary •ESG & Sustainability data •Non - core asset details
Slide 17: Thermal spot generation capacity remuneration
Thermal spot generation capacity remuneration Spot thermal capacity prices scheme, according to Resolution 400/25: Formula : PPAD x KP x capacity remuneration hours + reliability reserve Theoretical capacity prices US$/MW-month Wint/Summ Other Average Natural gas–only equipment 6,148 5,212 5,680 Dua
Slide 18: Thermal spot generation energy remuneration
Thermal spot generation energy remuneration Expected 2026 spot thermal energy prices, pursuant to Resolution 400/25: Formula: Hourly remuneration = CVP + RMA CVP = Published by CAMMESA biweekly. RMA = CVP + (Marginal hourly cost CMOh x Node loss factor – CVP) x FRA x FRC Adapted Marginal Rent (RMA)
Slide 19: ESG & Sustainability data
ESG & Sustainability data Strong corporate governance Corporate governance framework Ownership composition (Dec. 2025) Our corporate governance framework is built on internationally recognized best practices 100% of our shares are publicly listed in and guided by strict standards of transparency, ef
Slide 20: ESG & Sustainability data
ESG & Sustainability data ESG in the center of our business Sustainability is present in every stage of our activities Biodiversity protection and, together with environmental management, Conservation of Pampas Meadowlark constitutes one of the pillars of our business. (leistes defilippii) Environme
Slide 21: Non-core asset details
Non -core asset details Non -controlling interest in 3 thermal plants We hold interest in three ENARSA’s combined cycle plants. The plants total 2,554 MW and total annual generation of 10,514 GWh in 2025. San Martín Manuel Belgrano Vuelta de Obligado Central Vuelta de Company Termoeléctrica José de
Slide 22: Non-core asset details
Non -core asset details Forestry assets across +160,000 hectares. Lithium project located at the core of Argentina Our forestry platform is held via Proener S.A.U., wholly controlled by Central Puerto, and spans approximately 160,400 hectares in total, anchored by two key Business driver Lithium sub
Slide 23: Terms and abbreviations
Terms and abbreviations Abbreviation / Term Definition 1Q26 / 2Q26 / 3Q26 / 4Q26 First, second, third and fourth quarters of 2026 , respectively . 1H26 / 6M26 Six - month period ended June 30 , 2026 . FY25 / FY26 Fiscal year ended December 31, 2025 and 2026 , respectively . LTM Last Twelve Months .
Slide 24: Contact
Investors Presentation September2026 Contact Contact us or to subscribe to our Distribution List: inversores@centralpuerto.com LinkedIn Phone Central Puerto + 54 11 4317 5000 Web Headquarters www.centralpuerto.com Av. Tomas Alva Edison 2701, Dock E, City of Buenos Aires Port.