Slide 1: Investor Presentation
Investor Presentation November 2025 - Buenos Aires
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 Februar
Slide 4: Central Puerto at a glance
Central Puerto at a glance Company highlights Company’s highlights Installed capacity Activity Revenue model Beginning of 2025 Generation volumes 3 Q 25 LTM Sustainable power generation revenue model 6 ,703 MW in 14 plants 20 ,057 61 % End of 2025 GWh/year US $ - denominated 6 ,938 MW in 16 plants r
Slide 5: 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 6: Delivering results through the years
Delivering results through the years Central Puerto’s historical performance Revenues from sales (US$ MM) Adjusted EBITDA (US$ MM) (Breakdown by contract type) 777.4 69 671.3 73 66% 87 566.1 536.9 74 41% 510.2 390.8 63% 66 43% 271 52% 301 223 271 376.3 316.9 276.8 288 317.5 324 310.2 224 267 211 26
Slide 7: Availability rates of thermal units
Availability rates of thermal units(1) Combined Cycles (%) 100% 100% 99% 100% 100% 91% 88% 91% 87% 88% 92% 93% 90% 91% 2021 85% 79% 2022 68% 65% 2023 2024 2025 YTD Since 2023 Central Puerto complex Central Constanera complex Lujan de Cuyo San Lorenzo Steam & Gas turbines (%) 96% 95% 97% 93% 84% 88%
Slide 8: Leading power generation portfolio
Leading power generation portfolio Asset overview Geographic footprint Plant Technology 2026E Nominal 2024 (4) 2024 spot sales 2024 MATER/ Location CEPU PPA contract Installed Generation (GWh) PPA sales (GWh) (Province) commercial term capacity (1) (GWh ) operating date (year) (MW) 1 Central Thermal
Slide 9: Consistent growth of installed capacity
Consistent growth of installed capacity Installed capacity growth (in MW) (1992 - 2000) (2018) (2020) Wind farms (2023) (2025) End of 2025 Installed capacity • Central Puerto & • Luján de Cuyo CC • La Genoveva I, • Central Costanera • Closing of B. Lopez breakdown by technology mix and Puerto Nuevo
Slide 10: Portfolio ready to expand: Ongoing growth project & EBITDA outlook
Portfolio ready to expand: Ongoing growth project & EBITDA outlook Does not include Resolution 400/25 , impact estimated at an Ongoing projects, Supported by robust additional 20%/25% EBITDA Revenues adding 44 0 MW and ~ 35% business fundamentals growth assuming all spot Breakdown EBITDA growth. 202
Slide 11: 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 12: 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 13: 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 14: Appendix
Appendix • Historical financial summary • ESG & Sustainability data • Non-core asset details
Slide 15: Historical financial summary: Income Statement & dividend distribution
Historical financial summary: Income Statement & dividend distribution Income statement 3Q 2025 Δ% y/y Consolidated Statement of Income and 3Q 2025 2024 2023 2022 2021 2024 2023 2022 (2025 Comprehensive Income (in US$ MM) LTM (in US$ MM) LTM LTM/2024) Revenues 777.4 671.3 536.9 566.1 510.2 LTM Full
Slide 16: ESG & Sustainability data: ESG in the center of our business
ESG & Sustainability data ESG in the center of our business Biodiversity protection Conservation of Pampas Meadowlark ( leiste s defilippii ) Environment, Quality, Health & Safety Sustainable grassland management practice Integrated Management System We have an Quality Environmental Health & Safety
Slide 17: ESG & Sustainability data: Strong corporate governance
ESG & Sustainability data Strong corporate governance Corporate governance framework Ownership composition (Dec 2024) 100% of our shares are publicly listed in Our corporate governance framework is built on internationally recognized best BYMA ( Arg ) and NYSE (US). practices and guided by strict st
Slide 18: Non-core asset details: non-controlling interest in three thermal plants
Non-core asset details non-controlling interest in three thermal plants Total capacity installed in ENARSA’s combined cycle plants of 2,554 MW and total annual generation of 823.5 GWh in 2024 (at working interest). San Martín Manuel Belgrano Vuelta de Obligado Installed capacity: 865 MW Installed ca
Slide 19: Non-core asset details: Largest private forestry asset owner
Non-core asset details Largest private forestry asset owner across +160,000 hectares About Forestal Argentina: Geographic footprint of forestry asset We own and operate +160,000 hectares across 8 fields through our fully - owned subsidiary Forestal Argentina (1) . Our fields are located in the Mesop
Slide 20: Non-core asset details: Corporate venture capital in mining and lithium
Non-core asset details Flexible corporate venture capital in mining and lithium Business driver Lithium Gold / Silver Geographic footprint of Investment vehicle Corporate Venture Capital (CVC) : Flexible, low - exposure, high - return potential. Lithium and Mining projects Catamarca, Argentina (Lith
Slide 21: Glossary of terms
Glossary of terms 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 by the number of shares. I
Slide 22: Contact info
Contact info inversores@centralpuerto.com (contact us or to subscribe to our Distribution List) www.centralpuerto.com Phone +5411 4317 5000 Headquarters location Av. Tomas Alva Edison 2701, Dock E, City of Buenos Aires Port. Follow us on LinkedIn Central Puerto