Cia De Transporte De Energia Electrica Class B · BCBA:TRAN
Cia De Transporte De Energia Electrica Class B — Transener — Investor Presentation (May 2025)
26 slides from Cia De Transporte De Energia Electrica Class B's investor presentation, May 2025
Slide 1: Compañía de Transporte de Energía Eléctrica en Alta Tensión TRANSENER S.A.
Compañía de Transporte de Energía Eléctrica en Alta Tensión TRANSENER S.A. May 2025
Slide 2: Legal Disclaimer
Legal Disclaimer The material that follows is a presentation of general information about TRANSENER as of the date indicated herein and is based on publicly available information. It is in summary form, does not purport to be complete, is not intended to be relied upon as advice to potential investo
Slide 3: Industry Overview
gy Transener = ) Industry Overview
Slide 4: Industry Drivers
Industry Overview Industry Drivers Promote private ownership and market-based economic incentives Reward efficiency and penalize non-availability Regulate natural monopolies for transmission and distribution Guarantee open access and safety of the grid Protect rights of users and monitor quality of
Slide 5: Argentine Electricity Market Players
Industry Overview Argentine Electricity Market Players CAMMESA is responsible for, among other things, billing and collecting charges from WEM agents and making payments for transmission services. Market Clearing House & Supply Dispatch Center Demand (CAMMESA) Independent Generators Transmission Dis
Slide 6: Company Overview
erg Transener Company Overview
Slide 7: Transener concession and network overview
Company Overview Privatized in July 1993 with an exclusive 95-year concession to operate and maintain the extra high voltage network in Argentina, under the rights and obligations established in the Concession Agreement. Transener directly operates and maintains 13,245 km (86.2%) of 500 kV and 220 k
Slide 8: Company Overview
| \ @ Company Overview \ \ \ 7 A OFERTA PUBLICA (evma) (pxenuseetm Ra \ ZN bo so > ANSES: 19,57% | 50% 1 51% Clase A 49% Clase B _| >INVERSORES:27,78% \ i \ | i A o } Transener —_ > TRANSENER: 99,9999995216% 99,9%——- > CITELEC: 0,0000004784% hs Transba ENERGIA WS nee
Slide 9: Transba concession and network overview
Company Overview Privatized in August 1997 with an exclusive 95-year concession to operate and maintain the transmission lines in the Province of Buenos Aires (~38% of Argentina’s population), under the rights and obligations established in the Concession Agreement. One of seven regional transmissio
Slide 10: Business Overview
Company Overview Business Overview Unique business in Argentina Operates 85% of the 500 kV extra high voltage network in Argentina. Transener Operation of approximately 13,245 km of lines and 53 substations. Network Grid expansion projects supervision. Regulated Business Operates and maintains the t
Slide 11: Business Operations
erg Transener Business Operations
Slide 12: Significant improvement in Operating Performance
Business Operations Significant improvement in Operating Performance 4.0 3.66 3.5 ( 72%) 3.0 Failures per 100km / year 2.5 2.0 ( 80%) 1.48 1.5 1.0 1.03 0.5 0.29 0.0 Transener Transba Beginning of Concession Agreement 12-month period ended March 31st, 2025 Maximum amount as per concession agreement T
Slide 13: Financial Overview
erg Transener Financial Overview
Slide 14: Current Annual Regulated Revenues
Financial Overview Current Annual Regulated Revenues Reactive power Special eq. equipments $ 423,2 $ 5.198,2 0% 1% Reactive power eq. Connections $ 63.661,9 $ 39.679,8 16% Lines 26% $ 144.596,2 37% Lines $ 84.631,7 Connections 56% $ 100.937,0 25% Transformers $ 27.078,1 18% Transformers $ 84.477,3 2
Slide 15: Penalty System
Financial Overview Penalty System The Concession Agreements establish a system of penalties that we may incur if defined parts of the Networks are not available to transmit electricity. Non-availability is divided into two types: ○ Scheduled (which typically result from planned maintenance, incur a
Slide 16: Cumulated penalty
Financial Overview Penalty System Forced Unavailability of transmission lines Cumulated penalty [$] A B C TRANSENER=5 hs Period of unavailability [hs] TRANSBA=3hs
Slide 17: Penalty System - Cap
Financial Overview Penalty System - Cap The penalties which Transener or Transba may be required to pay in respect of any calendar month cannot exceed: ○ 50% of Transener or Transba's non-consolidated monthly regulated revenue related to electricity transmission revenue, transmission capacity revenu
Slide 18: Transener Concession Agreement
Financial Overview Transener Concession Agreement The Transener Concession Agreement may only be terminated: ○ by the Government if Transener becomes bankrupt or ○ by Transener if the Government breaches the Transener Concession Agreement On the Transener Transfer Date, Citelec created a pledge in f
Slide 19: Current regulatory situation
Financial Overview Current regulatory situation On January 30th, 2025, through Resolutions No. 85/2025 and No. 87/2025, the ENRE established a 4% increase effective as of February 1st, 2025, based on January figures. Subsequently, on February 28th, 2025, through Resolutions No. 158/2025 and No. 154/
Slide 20: Current regulatory situation (Cont.)
Financial Overview Current regulatory situation (Cont.) On April 30th, 2025, the ENRE issued Resolutions No. 305/2025 and No. 312/2025, establishing a tariff increase of 42.89% and 10.30% compared to April 2025 for Transener and Transba, respectively. Similarly, for the Choele Choel – Pto. Madryn In
Slide 21: Revenue Breakdown
Financial Overview Revenue Breakdown 400.000 350.000 42.137 300.000 33.461 Net Non Regulated Revenues 250.000 31.901 In AR$ millions 28.784 Net Regulated Revenues 200.000 327.076 150.000 274.958 216.701 100.000 203.467 10.125 50.000 91.235 ---------- 0 FY 2021 FY 2022 FY 2023 FY 2024 1Q2025 Values e
Slide 22: Leverage Profile
Financial Overview Leverage Profile EBITDA Total Financial Debt 160 9 8,5 146,6 140 8 7 120 6 100 US$ Millions US$ Millions 5 80 4 3,5 60 53,6 49,2 3 40,9 37,7 40 2 ---------- ---------- 20 1 0,3 0 0 0 0 FY 2021 FY 2022 FY 2023 FY 2024 1Q2025 2021 2022 2023 2024 1Q2025 Financial Debt to EBITDA EBITD
Slide 23: Annual cash flow in US$ MM
Financial Overview Annual cash flow in US$ MM Source: Transener
Slide 24: Consolidated cash position - evolution
Financial Overview Consolidated cash position - evolution Source: Transener
Slide 25: Transition period
Financial Overview Transition period Total Revenues Total Ebitda 450 250 400 350 200 300 150 250 316 178 200 100 330 150 243 151 147 100 194 169 178 161 50 102 50 95 54 49 41 38 0 0 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 Real Revenues Projected Revenues Real EBITDA Pro
Slide 26: Financial debt evolution
Financial Overview Financial debt evolution 600,0 500,0 400,0 US$ millions 300,0 569 200,0 295 242 237 236 100,0 159 148 156 156 143 130 116 99 99 99 91 91 0,0 9 3 0,3 0,0 0,0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net of notes i