Slide 1: Investor Presentation March 2026
Investor Presentation March 2026
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 February 201
Slide 4: Central Puerto at a glance in 2025
Central Puerto at a glance in 2025 Installed capacity Activity Revenue model 6,938 MW in 16 assets Generation volumes 2025 Sustainable power generation revenue 18,598 GWh/year Near 100% US$ -denominated energy revenues (Resolution 400/25) Installed capacity breakdown: Generation volumes breakdown: R
Slide 5: Concession extension Piedra del Águila hydro plant
Concession extension Piedra del Águila hydro plant Central Puerto was awarded the Piedra del Águila concession for 30 years, with a bid of US$ 245 million. • New energy and capacity prices: 1,733 US$/MW-month affected by maintenance hours and available capacity. Energy: 3.5 US$/MWh (when dispatched)
Slide 6: Power market normalization initiated
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 for spot thermal: The
Slide 7: 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) 782.6 671.3 69 54 510.2 566.1 536.9 73 66 74 271 393 271 301 223 376.3 316.9 276.8 288.0 337.2 324 320 211 224 267 2021 2022 2023 2024 2025
Slide 8: Availability rates of thermal units
Availability rates of thermal units (1) Combined Cycles (%) Since 2023 Central Puerto complex Central Costanera complex Lujan de Cuyo San Lorenzo Steam & Gas turbines (%) 2021 2022 2023 2024 Since 2023 2025 Central Puerto complex Central Costanera complex Brigadier Lopez (1)Availability reported by
Slide 9: Leading power generation portfolio
Leading power generation portfolio CEPU Installed capacity Location Spot, Contracts and Asset overview Plant Technology commercial (MW) (Province) PPA exp. date operating date Geographic footprint Central Thermal 1 Costanera (4 ST / 3 CC) 1,789 City of Buenos Aires Feb.23 Spot/Contracts Thermal 2 Ce
Slide 10: Consistent growth of installed capacity
Consistent growth of installed capacity Installed capacity growth (in MW) (1992-2000) (2018) (2020) (2023) (2025) 2025 • Central Puerto & • Luján de Cuyo CC • Wind farms: La • Central Costanera • Closing of B. Lopez Installed capacity breakdown by Puerto Nuevo ⁽¹⁾ (+95 MW) Genoveva I, (1,789 MW) CC
Slide 11: Portfolio ready to expand: 2025 Achieved growth projects impact
Portfolio ready to expand: 2025 Achieved growth projects impact 2025 New Projects completed 2025 business segment breakdown and analysis Added 440 MW and ~25% 2026 EBITDA growth compared to 2025. ~ 45% 6,938 18,598 782.6 337.2 2026E EBITDA Additionally, capex 2026: i) obtained MW GWh US$MM US$ MM hy
Slide 12: Growth projects: Status update
Growth projects: Status update 2025 projects completed: Cafayate solar farm San Carlos solar farm Brigadier Lopez Piedra del Águila • Completed and in operation. • Completed and in operation • Completed and in operation. • Completed . Operating • Acquired Aug. 25 US$ 48.5 MM. • Capex: US$ 20 MM. • C
Slide 13: Strong balance sheet and financial flexibility
Strong balance sheet and financial flexibility Debt maturity profile Outstanding financial debt as of Dec 31, 2025 Latest financial events • SYNDICATED A/B LOAN AGREEMENT WITH IFC: On Dec. 19, 2025, the company signed 231.5 Corporate Bond a US$ 300 MM syndicated A/B loan with the International Finan
Slide 14: 2025 Argentina power market summary
2025 Argentina power market summary Demand & Generation Overview Annual electricity generation Annual electricity demand Total 2025: 142,789 GWh Domestic generation breakdown • In 2025, the system reached a historic peak capacity of 30,257 MW on February 10 , surpassing the previous record. Hydro ,
Slide 15: Appendix
Appendix •New spot prices, Resol. 400/25 •Historical financial summary •ESG & Sustainability data •Non-core asset details
Slide 16: Thermal spot generation capacity remuneration
Thermal spot generation capacity remuneration Expected 2026 spot thermal capacity prices, pursuant to Resolution 400/25: Theoretical capacity prices US$/MW-month Wint/Summ Other Average Natural gas–only equipment 6,148 5,212 5,680 Dual-fuel equipment (natural gas + alternative fuel) 8,020 5,680 6,85
Slide 17: Thermal spot generation Hourly energy remuneration
Thermal spot generation Hourly energy remuneration Expected 2026 spot thermal energy prices, pursuant to Resolution 400/25: Formula: Hourly remuneration = CVP + RMA CVP = Published by CAMMESA biweekly. RMA = CVP + (Marginal hourly cost CMOh x Node loss factor – CVP) x FRA x FRC Adapted Marginal Rent
Slide 18: Historical financial summary
Historical financial summary: Income Statement & dividend distribution Consolidated Statement of Income and Income statement 2025 2024 2023 2022 2025 2024 2023 2022 Comprehensive Income (in US$ MM) (in US$ MM) Revenues 782.6 671.3 536.9 566.1 Income Statement Cost of Sales -501.8 -407.2 -359.4 -298.
Slide 19: ESG & Sustainability data: Strong corporate governance
ESG & Sustainability data Strong corporate governance Corporate governance framework Ownership composition (Dec. 2025) Our corporate governance framework is built on internationally recognized best practices 100% of our shares are publicly listed in and guided by strict standards of transparency, ef
Slide 20: ESG & Sustainability data: ESG in the center of our business
ESG & Sustainability data ESG in the center of our business Sustainability is present in every stage of our activities Biodiversity protection and, together with environmental management, Conservation of Pampas Meadowlark constitutes one of the pillars of our business. (leistes defilippii) Environme
Slide 21: Non-core asset details: interest in thermal plants
Non-core asset details non-controlling interest in 3 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 capaci
Slide 22: Non-core asset details: Forestry assets
Non-core asset details Largest private forestry asset owner across +160,000 hectares About Forestal Argentina: We own and operate +160,000 hectares across 8 fields through our fully-owned subsidiary Geographic footprint of Forestal Argentina(1). Our fields are located in the Mesopotamia, Argentina,
Slide 23: 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 (Lithium T
Slide 24: 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 25: Contact
Investors Presentation March 2026 Contact Contact us or to subscribe to our Distribution List: inversores@centralpuerto.com LinkedIn Phone Central Puerto + 54 11 4317 5000 Web Headquarters www.centralpuerto.com Av. Tomas Alva Edison 2701, Dock E, City of Buenos Aires Port.