Central Puerto Sa · BCBA:CEPU
Central Puerto Sa — Q3 2025 Earnings Presentation
12 slides from Central Puerto Sa's earnings presentation, Nov 12, 2025
Slide 1: 3rd Quarter 2025 Earnings Presentation
3 Quarter 2025 rd Earnings Presentation November 12 , 2025 th
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 Centra
Slide 3: 3rd Quarter 2025 – Highlights
Central Puerto 3 quarter 2025 rd Outlook 3rd Quarter 2025 – Highlights Contracted energy and capacity expansion , MAT Power market created for thermal assets to normalization trade up to 20 % to large users or Since Nov 1, 2025 up to 100 % including Distcos . 3 Q 25 Adjusted EBITDA ( 1) Revenues T
Slide 4: 3Q 2025 Earnings summary
3Q 2025 Earnings summary 3 Q25 Revenues (in US$ MM) 3Q25 Adjusted EBITDA (in US$ MM) Adj. EBITDA margin (%) 233.9 +30% +26% q/q y/y +64% +8% q/q y/y 69.6 179.6 185.2 101.1 93.4 42.9 Thermal PPA 45.5 Spot thermal & hydro 61.4 113.6 Renewables PPA 90.5 92.6 Steam 30.8 24.9 28.3 Other sales 10.8 10.6 1
Slide 5: 3Q25 Power Generation
3Q25 Power Generation 3Q25 power generation 3Q25 Breakdown of power generation (in GWh) +4% - 20% 5,685 q/q y/y 448 Generation by Generation by 4,539 4,372 Source (%) Market (%) 1,403 495 409 578 Wind & solar Contracted 848 Wind/Solar 11% Hydro Hydro 2,000 2,393 13% 1,750 Thermal spot 43% Thermal co
Slide 6: Business development projects status update
Business development projects status update Completed and next - to - completion thermal and renewable projects 2. Brigadier 3. San Carlos 1. Cafayate Lopez closing solar farm solar farm (M&A) of Combined Cycle • In the • In operations. • In the commissio - • Acquisition commissio - nning phase . co
Slide 7: Power market normalization initiated
4Q 2025 outlook 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 . ✓ Contract market optionality fo
Slide 8: Strong balance sheet and financial flexibility
Strong balance sheet and financial flexibility Debt maturity profile 3Q25 key financial events Outstanding financial debt as of Sept 30, 2025 • CORPORATE BOND ISSUANCE: August 2025 - Class C Corporate Bond issuance of 292.1 Corporate Bond US$ 89 MM , 8.00% Bullet due 2029. Corporate Loan Project fin
Slide 9: Electricity market overview – Argentina
Electricity market overview– Argentina T otal installed capacity Energy generation Total domestic demand in (Annual balance – Sept 2025) 3Q25 2Q25 3Q25 2Q25 43,887 MW 34,342 GWh 34,118 GWh 35,255 GWh 33,455 GWh 18% 18% 16% 26% 27% 4% 8% 8% 47% 46% 51% 52% 57% 23% 22% 23% 27% 27% Hydro Thermal Commer
Slide 10: Central Puerto’s 3Q 2025 Takeaways
Central Puerto’s 3Q 2025 Takeaways • 3 Q 25 Adjusted EBITDA of US $ 102 .4 MM and a 3 Q 25 LTM Adjusted EBITDA of US $ 317.5 MM, which reflects solid operations and a starting point in this new market environment . • Central Puerto was awarded both projects submitted under the AlmaGBA Battery Energy
Slide 11: Glossary of terms
Glossary of terms Terms and abbreviations BCRA; Argentine Central Bank BYMA Bolsas y Mercados Argentinos – Argentine stock exchange. CAPEX Capital Expenditures. CNV Comisión Nacional de Valores – Argentina’s securities regulator. COGS Cost of goods sold. EPS Earnings per share – Net income divided b
Slide 12: Thank you
Thank you 3 Quarter 2025 rd Earnings webcast November 12th, 2025