Slide 1: Company Presentation
C O M PA N Y P R E S E N TAT I O N August 21, 2019
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: Company Description
COMPANY DESCRIPTION FINANCIALS APPENDIX Adjusted EBITDA Reconciliation Foreign Exchange rate
Slide 4: Central Puerto’s value components at a glance
Central Puerto’s value components at a glance ◼ 4,097 MW of installed capacity By 2021 the power - 11% market share (14.6 TWh generated in LTM1Q2019) capacity will be: Power ◼ 785 MW under construction with PPAs Generation 75% Legacy units - 563 MW in thermal projects, and 222 MW in renewable 25% Ne
Slide 5: Corporate structure and main financial figures
Corporate structure and main financial figures Central Puerto has a well diversified shareholders base 64% 22% 8% 4% 2% Federal Local shareholders ADR holders Goverment Neuquén Province Power generation of Central Puerto and its consolidated subsidiaries (LTM ended on June 30, 2019) 1 Sales2 Adj. EB
Slide 6: Well diversified portfolio of generation assets
Power Well diversified portfolio of generation assets generation Current geographic footprint Power capacity Assets in Assets under FONINVEMEM (MW)4 operation construction Plants 816MW 1 Puerto complex 1,714 - - 11 2 Piedra del Águila 1,440 - - 3 3 Luján de Cuyo 500 93 - 14 13 3 10 4 Brigadier López
Slide 7: Central Puerto at a glance (cont’d): Attractive growth pipeline
Central Puerto at a glance (cont’d) Attractive growth pipeline Generation assets and projects under development breakdown by technology (MW) Awarded and under development / construction 4,882 140 4,097 222 385 423 469 Renewables 163 46 1069 Co Generation 1069 27 307 Steam turbines 1491 1071 Gas turb
Slide 8: One of the largest private sector power generators in Argentina
One of the largest private sector power generator in Argentina with a Power generation diversified asset base Private sector power generation market shares (GWh) SADI’s total power generation by private sector companies and market share, July 2018 – June 2019 18.0% 17.7% 14.1% 15.5% 34.7% 28,419 14,
Slide 9: High quality assets with strong and stable operational performance
Power generation High quality assets with strong and stable operational performance Assets with high availability… …a strong generation track record… Average availability of thermal units Market average1 Central Puerto Power generated (TWh) Historical low hydrological levels affected Piedra del Agui
Slide 10: Attractive growth profile: New awarded thermal projects
Attractive growth profile Power generation New awarded thermal projects to add 423MW of contracted capacity 1 Expansion of Lujan de Cuyo 2 Terminal 6 San Lorenzo Power 93 MW (for the winter) 330 MW (for the winter) capacity Expected heat rate 1,530 Kcal/KWh 1,490 Kcal/KWh Steam production 350 tons p
Slide 11: Brigadier López Plant purchase
Attractive growth profile Power generation Brigadier López Plant purchase The contract for the transfer of the plant was signed on June 14, 2019, effective as of April 1, 2019 US$ 155 millions in cash US$ 165 Plant Price millions US$ 10 million in trade receivables form CAMMESA Maturity: August 2022
Slide 12: Development of awarded renewable energy projects
Attractive growth profile Power generation Development of awarded renewable energy projects Central Puerto’s renewable projects1 RenovAr Program Term Market (MATER) 1 La 2 3 La 4 La 5 6 7 La 8 Achiras I Manque Los Olivos El Puesto Castellana I Genoveva I Castellana II Genoveva II Capacity and 100.8
Slide 13: Gas turbines: well positioned for future expansion
Attractive growth profile (cont’d) Power generation Central Puerto is well positioned ahead of future expansion opportunities Government targets significant capacity additions Turbines and land for future projects To further enhance its position ahead of future auctions (or potential private term ma
Slide 14: Largest private player in FONI consortium operating combined cycles
FONI Largest private player in FONI consortium operating combined cycles Receivables and stake in Plants totaling 2,554 MW Assets under the FONINVEMEM program 1 San Martín 2 Manuel Belgrano 3 Vuelta de Obligado Combined cycle Combined cycle Combined cycle Plant 865 MW 873 MW 816 MW overview COD: 201
Slide 15: Natural gas distribution business provides cash flow through dividends
Natural Gas Central Puerto also participates in the natural gas distribution business, Distribution and Transportation which also provides cash flow to its operation through dividends Stake in natural Gas Distribution companies Key performance indicators CEPU’s Stake* Stake in 22.49% DGCU • 12% mark
Slide 16: Financials
COMPANY DESCRIPTION FINANCIALS APPENDIX Adjusted EBITDA Reconciliation Foreign Exchange rate
Slide 17: Strong cash flow generation and financial position
Strong cash flow generation and financial position US$ based revenues supported by additional FONINVEMEM cash flows Revenues Acq. Adj. EBITDA Net Income (US$mm)1 excluding CVOSA effect, and FX differences and (US$mm)1 interest on FONI receivables (US$mm)1 In Ps.mm: 23,626 12,621 7,042 556 297 166 LT
Slide 18: Favorable financial position, which allows to develop new projects
Favorable financial position, which allows to develop new projects Cash Position as of June 30, 2019 (US$ mm)1 CENTRAL PUERTO SUBSIDIARIES CONSOLIDATED Cash 51 66 Financial Debt 15 Net Debt Position (148) Net. Debt/ LTM (163) 2Q2019 Acq. Adj. EBITDA: (323) 1.6x (374) Project Finance Long- Term Debt
Slide 19: Appendix
COMPANY DESCRIPTION FINANCIALS APPENDIX Adjusted EBITDA Reconciliation Foreign Exchange rate
Slide 20: Adjusted EBITDA Reconciliation
Appendix Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation LTM 2Q2019 Million Ps. 1H2018 (A) 2018 2018 (B)* 1H2019 (C) (B-A+C) Unaudited, subject to Unaudited, subject to limited review according Audited Unaudited limited review according Unaudited to rule ISRE 2410 to rule ISRE 2410 Dec
Slide 21: Foreign Exchange Rate Evolution
Appendix Foreign Exchange Rate Evolution Exchange rate quoted by Banco de la Nación Argentina for wire transfers (“divisas”) Year Month High Low Average End 1Q 2017 16.0800 15.3600 15.6795 15.3900 2017 2Q 2017 16.6300 15.1900 15.7575 16.6300 3Q 2017 17.7900 16.8000 17.2870 17.3100 4Q 2017 19.2000 17
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