Slide 1: Company Presentation
C O M PA N Y P R E S E N TAT I O N March 18, 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 constitute an offer to sell or the solicitation of any offer to buy any securities of Central Puerto, in any jurisdiction. Securiti
Slide 3: Company Description / Financials / Appendix
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 ◼ 3,810 MW of installed capacity By 4Q2020: - 11% market share (14.5 GWh generated in 2018) Power ◼ 659 MW under construction with PPAs 82% Legacy units Generation 18% New Energy - 423 MW in thermal projects, and 236 MW in renewable projects ◼ 969 MW in
Slide 5: Corporate structure and main financial figures
Corporate structure and main financial figures Central Puerto has a well diversified shareholders base 67% 19% 8% 4% 2% Energy Local shareholders ADR holders Secretariat Neuquén Province Power generation of Central Puerto and its consolidated subsidiaries (LTM ended December 31, 2018) 1 Sales Adj. E
Slide 6: Well diversified portfolio of generation assets
Power Well diversified portfolio of generation assets generation Current geographic footprint Assets under Power capacity Assets in FONINVEMEM construction / (MW)2 operation Plants development 816MW 8 1 Puerto 1,714 - - 2 Piedra del Aguila 1,440 - - 10 11 3 7 4 3 3 Lujan de Cuyo 509 93 - 3 9 7 1 4 S
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)1 % stake 2020 Awarded and under Brigadier after plants construction / development López project3 transfer2 5,1503 383 420 469 236 3,810 423 Renewables 469 1069
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, Jan 2018 – Dec 2018 17.0% 17.5% 15.7% 16.4% 33.4% 28,473 14,47
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 Central Puerto Market average1 Power generated (TWh) Historical low hydrological levels affected Piedra del Agui
Slide 10: New awarded thermal projects to add 423MW of contracted capacity
Attractive growth profile Power generation New awarded thermal projects to add 423MW of contracted capacity 1 2 Expansion of Lujan de Cuyo Terminal 6 San Lorenzo Power 93 MW (for the winter) 330 MW (for the winter) capacity Technology Cogeneration Estimated Total 2 US$91mm US$284mm Capex (excl. VAT)
Slide 11: Brigadier López Plant purchase - Asset description
Attractive growth profile Power generation Brigadier López Plant purchase - Asset description Central Puerto was awarded with the Brigadier López The estimated acquisition cost, including CAPEX, is plant on February 26, 2019 US$ 426 million Plant Price US$ 165 millions Debt The signing of the contra
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 La 7 Achiras I Achiras II El Puesto Castellana I Genoveva I Castellana II Genoveva II 99 MW 48 MW 86.6 MW 15.75 MW
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 oportunities Government targets significant capacity additions Turbines and land for future projects To further enhance its position ahead of future auctions (or potential private term mar
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: EBITDA expected to grow 76% by 2021
Attractive growth profile (cont’d) Central Puerto’s EBITDA is expected to grow 76% by 2021, when all the projects will be online The new projects are expected to significantly increase the EBITDA of the company 2018 2019 2020 2021 2022 2023 14
Slide 16: 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 17: Financials
COMPANY DESCRIPTION FINANCIALS APPENDIX Adjusted EBITDA Reconciliation Foreign Exchange rate
Slide 18: Strong cash flow generation and financial position
Strong cash flow generation and financial position US$ based revenues supported by additional FONINVEMEM cash flows Revenues from continuing operations Adj. EBITDA excluding CVOSA effect, FX differences and (US$mm)1 interest on FONI receivables (US$mm)1 In Ps.mm: 9,639 +48% 14,265 In Ps.mm: 5,500 +6
Slide 19: Favorable financial position, which allows to develop new projects
Favorable financial position, which allows to develop new projects Cash Position as of December 31, 2018 (US$ mm)1 CENTRAL PUERTO SUBSIDIARIES CONSOLIDATED Project Finance Long- Term Debt 55 55 58 3 Cash 0 Financial Debt (121) Net Debt Financial Debt = 0 Position (163) (154) (163) Estimated CAPEX 20
Slide 20: Appendix
COMPANY DESCRIPTION FINANCIALS APPENDIX Adjusted EBITDA Reconciliation Foreign Exchange rate
Slide 21: Adjusted EBITDA Reconciliation
Appendix Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation Million Ps. 2018 2017 Net Income of the year 17,185 5,262 Result from exposure to the change in the purchasing power of the currency 4,036 152 Finance Expenses 6,301 1,201 Finance Income (2,280) (1,559) Share of the profit of ass
Slide 22: 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
Slide 23: ) Seett|
o ) Seett| m are é y* Central Puerto