29 slides from Empresa Distribuidora Y Comercializadora Norte S.a. Class B's earnings presentation, Nov 7, 2025
Slide 1: Earnings Release Third Quarter 2025
EARNINGS RELEASE Third Quarter 2025 November 2025,
Slide 2: Edenor announces third quarter 2025 results
Buonos Aires, Argentina, November 6, 2025 - Empresa Détibuldora y Comercialeadora Norte SA (NYSE / BYMA: EDN) ("edenor” or “the Company’) Argentina's largest electricity distributor both in terms of number of customers and energy sales, announces its resus forthe third quarter of 2025, Al figures ar
Slide 3: Agenda
AGENDA EARNINGS RELEASE THIRD QUARTER 2025 Highlights Regulatory Framework Financial Results Operating Indicators Investments Financial Debt Summary
Slide 4: Highlights
EARNING RELEASE THIRD QUARTER 2025, 01 HIGHLIGHTS
Slide 5: Earnings 2025 highlights
EARNINGS RELEASE THIRD QUARTER 2025 POSITIVE EBITDA ¥ EBITDA 9M25 ARS 440 B reflecting tariff increases, operating efficiencies among other factors. ¥ 5-year tariff review completed ¥ YTD (Sept) VAD increase 26% vs 22% CPI INDICATORS ¥ CAPEX: Investments of ARS 283 B at 9M25. Y Improvements in opera
Slide 6: Regulatory Framework
EARNING RELEASE THIRD QUARTER 2025, 02 REGULATORY FRAMEWORK
Slide 7: Tariff Review Process
Tariffs Review Process 5 Year Tariff Review was completed (2025-2030): +319,2% nominal since February 2024 +43% Aug24/Sept25: EBITDA (ARS 133 B 3Q25). Includes monthly adjustment based on a EBITDA ARS 440 B formula considering IPIM (67%) and CPI (33%) + (9M25) 0.42% YTD (Sept25): Tariff increase: +2
Slide 8: CAMMESA Debt Regularization
CAMMESA Debt Regularization (05-21-25) * Positive impact 9M25: ARS 199 B * All outstanding balances to CAMMESA were included | in 3 payment plans (72-75 installments) at 50% BNA # lending rate: Y Regularization of debt not included in existing payment plans prior to November 30, 2024, in 72 installm
Slide 9: Financial Results
EARNING RELEASE THIRD QUARTER 2025, 03 FINANCIAL RESULTS
Slide 10: Improvement in results
Improvement in results. EDENOR invested ARS 283 B in 9M25 and achieved improvements in main operating indicators "3024 amas | “oM2 Restated 0) Revenues 2118337 1,861,603 740837 732638 Energy pu (1,253,171) _ (1,058,888), (490,168) _ (454.377) _ Distribution Margin 865,166 801,704 340,669 778,261 Ope
Slide 11: Energy Sales Volumes
ENERGY SALES VOLUMES Energy sales volume in 3Q25 was slightly lower than in 3Q24 [gag gg Vaviaton Resse” $25 B BK 801281 12% 2958095 (08%) Srl conmaci 1s ae 8am 381082 (088) Mesum commer 18 be ei 387 0¢% Ines 2% 160% 7288 (198) 2a 188% 160% 18 35% 26% a 28% a 25% tn a 37 40% 400% — 3361,159 17.51 fo
Slide 12: Operating Expenses
OPERATING EXPENSES Lower operating expenses in 3Q25 (-4% vs. 3024) in millon of pesos stant figures Salaries, social security taxes Pensions Plans Communications expenses Allowance for the imp. of rade and other receivables Supplies consumption Leases and insurance Security sence Fees and remunerati
Slide 13: EBITDA
EBITDA ARS 440 B (9m25) EARNINGS RELEA THIRD QUARTER 20; Des [ ESE Net operating Resuts 99,092 35,385 180%] 62.870 «8,882 «600% Liisi of property, plant and ecuipmentt 141,403 146,931 (4%) 49,228 51,345 (4%) Agreement onthe Reg Of Obiig. 199,433 . 21,173 : nla EBITDA 439.928 182,316 141% | 133271 60
Slide 14: Operating Results
EARNING RELEASE THIRD QUARTER 2025, 04 OPERATING RESULTS
Slide 15: Quality Standards
QUALITY STANDARDS SAIDI hours / year / customer SAIFI times / year /customer edenor 30.3 289 s— Real mem Requested > 2017 2018 2019 2020 2021 2022 2023 2024 sep-25 2017 2018 2019 2020 2021 2022 2023 2024 sep-25 : . This recovery in service is mainly due to the strong investments that the Company ain
Slide 16: Energy Losses
ENERGY LOSSES edenor 15.6% 15.4% 15.4% “ust om Energy losses LTM were 15.4% as of 14.9% September 2025. 14.5% 1Q 2Q 3a 4Q 2024 «2025 Driving novation and fen in Loss MEGgstion: Mesure Sods in hspetin and eisives and Reetring Balance: We continue to leverage the potential of analytical and artifical
Slide 17: Investments
EARNING RELEASE THIRD QUARTER 2025, 05 INVESTMENTS
Slide 18: CAPEX
CAPEX INVESTMENTS IN LINE WITH CAPEX PLAN 2025 edenor a6 *9M25 ARS 283 B a | ‘= New Supplies ARS 323,173 M = Network Structure = Energy Recovery ARS 283,079 M = Others 30,309 18,049 COMMISSIONED PROJECTS Expansion of the 132 kV busbar at the ZAPPALORTO Substation New 132 kV underground transmission
Slide 19: Financial Debt
EARNING RELEASE THIRD QUARTER 2025, 06 FINANCIAL DEBT
Slide 20: Financial Debt
FINANCIAL DEBT ) so ok sepcopar ~Moopys Mie itchRatings LT National Scale raat ‘Aar ‘Atarg) ST National Scale raat Aar Ailarg) LT Global Scale B- B3 = CCC+ Notes Class Amount (Million) Currency Type Maturity, Rate Interest Payment Law 3 96 usD Std nov-26 9.75 Biannual Argentina 5 2 USD. ‘Sta “Aug-28
Slide 21: Summary
EARNING RELEASE THIRD QUARTER 2025, 07 SUMMARY
Slide 22: Summary
edenor > EBITDA - Major improvement in EBITDA led by tariff relief (5-year tariff review completed) + cost management > CAMMESA Debt - On schedule with all payments for energy purchases. >» CAPEX * Annual CAPEX remained stable at approximately USD 200 million (equivalent). + Alllarge consumers (T3)
Slide 23: About Edenor
ABOUT EDENOR Empresa Distribuidora y Comercializadora Norte S.A. (edenor) is the largest electricity distribution company in Argentina in terms of number of customers and electricity sold (in GWh). Through a concession, edenor distributes electricity exclusively in the northwest of Greater Buenos Ai
Slide 24: Investor Relations Contacts
INVESTOR RELATIONS CONTACTS German Ranftl_ | Chief Financial Officer Lucila Ramallo | Deputy Investor Relations Manager investor@edenor.com | Tel. +54 (11) 4346 5511 EARNINGS RELEASE THIRD QUARTER 2025 edenor®
Slide 25: Condensed Interim Consolidated Statement of Comprehensive Income
Condensed Interim Consolidated Statement of Comprehensive Income Forthe nine-month period ended on September30, 2025 and 2024 Values expressed in constant currency basis (1)See Note 1: Retroactive restatement of the previously ‘ssued financial statements ~ Deferred tax liability {generated by the Pr
Slide 26: Statement of Comprehensive Income (historical values)
In rilion of Argentine Pesos 09.30.2025 Gansciidawa at stral value fe Statement of Comprehensive Revenues 1,959,679 4,211,287 incense Energy Puchases (1.158.421) (689.584) Subtotal 201,558 Transmission and distbaion expenses (276.450) (188.386) Gross Proft 525,099 333,318 Forthe nine-month period en
Slide 27: Condensed Interim Consolidated Statement of Financial Position
Condensed Interim Consolidated Statement of Financial SE es eee opie Position STR emmy oc a0 Non-current assets fhe et al aa Property, plant and equipment 3,803,789 3,862,175 Sher commerce toms “esas re ete % Ms Sameera NE Right-oFuse asset 9.838 12047 forthe nine-month paid ended a of Oe eshte ‘28
Slide 28: Condensed Interim Consolidated Statement of Cash Flows
Condensed Interim Consolidated Statement of Cash Flows Forthenine-month period ended on September 30, 2025 and 2024 Values expressed on a constant currency basis (1)See Note 1: Retroactive restatement of the previously lesued financial statements ~ Deferred tax lability generated by the Property pla
Slide 29: Signatures
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Empresa Distribuidora y Comercializadora Norte S.A. By: /s/ Germán Ranftl Germán Ranftl Chief Financial