Separate Financial Statements 31.12.2026

(Stated in millions of constant pesos - Note 3)

Index

Condensed Interim Separate Statement of Comprehensive Income 5

Condensed Interim Separate Statement of Financial Position 6

Condensed Interim Separate Statement of Changes in Equity 8

Condensed Interim Separate Statement of Cash Flows 9

Note 1 | General information 11

Note 2 | Regulatory framework 11

Note 3 | Basis of preparation 13

Note 4 | Accounting policies 14

Note 5 | Financial risk management 15

Note 6 | Critical accounting estimates and judgments 17

Note 7 | Contingencies and lawsuits 18

Note 8 | Revenue from sales and energy purchases 18

Note 9 | Expenses by nature 20

Note 10 | Other operating income (expense), net 21

Note 11 | Net finance costs 21

Note 12 | Basic and diluted earnings per share 22

Note 13 | Property, plant and equipment 23

Note 14 | Right-of-use assets 25

Note 15 | Inventories 25

Note 16 | Other receivables 25

Note 17 | Trade receivables 26

Note 18 | Financial assets at amortized cost 26

Note 19 | Financial assets at fair value through profit or loss 26

Note 20 | Cash and cash equivalents 27

Note 21 | Share capital and additional paid-in capital 27

Note 22 | Allocation of profits 27

Note 23 | Trade payables 28

Note 24 | Other payables 28

Note 25 | Borrowings 29

Note 26 | Deferred revenue 31

Note 27 | Salaries and social security taxes payable 31

Note 28 | Income tax and deferred tax 32

Note 29 | Tax liabilities 33

Note 30 | Provisions 33

Note 31 | Related-party transactions 34

Note 32 | Shareholders' Meeting 34

Note 33 | Events after the reporting period 35

Glossary of Terms

The following definitions, which are not technical ones, will help readers understand some of the

terms used in the text of the notes to the Company's Condensed Interim Separate Financial Statements.

Terms Definitions

BCRA Central Bank of Argentina

BNA Banco de la Nación Argentina

CABA City of Buenos Aires

CAMMESA Compañía Administradora del Mercado Mayorista Eléctrico S.A.

(the company in charge of the regulation and operation of the wholesale electricity market)

CNV National Securities Commission

CPD Distribution Own Cost

edenor Empresa Distribuidora y Comercializadora Norte S.A.

ENRE National Regulatory Authority for the Distribution of Electricity FACPCE Argentine Federation of Professional Councils in Economic Sciences FNEE National Fund for Electric Power

GWh Gigawatt hour

IAS International Accounting Standards

IASB International Accounting Standards Board

IFRIC International Financial Reporting Interpretations Committee IFRS International Financial Reporting Standards

IGJ Inspección General de Justicia (the Argentine governmental regulatory agency of corporations)

INDEC National Institute of Statistics and Census

IPC Consumer Price Index

IPIM Wholesale Price Index

KWh Kilowatt hour

MEM Wholesale Electricity Market

MWh Megawatt hour

PBA Province of Buenos Aires

RECPAM Gain (Loss) on exposure to the changes in the purchasing power of the currency SACME S.A. Centro de Movimiento de Energía

SE Energy Secretariat

VAD Distribution Added Value

Legal Information Corporate name: Empresa Distribuidora y Comercializadora Norte S.A. Legal address: 6363 Av. Del Libertador Ave., City of Buenos Aires

Main business: Distribution and sale of electricity in the area and under the terms of the Concession

Agreement by which this public service is regulated

Date of registration with the Public Registry of Commerce:

• of the Articles of Incorporation: August 3, 1992

• of the last amendment to the Bylaws: July 24, 2024

Term of the Corporation: August 3, 2087

Registration number with the "Inspección General de Justicia" (the Argentine governmental

regulatory agency of corporations): 1,559,940

Parent company: Empresa de Energía del Cono Sur S.A.

Legal address: 1252 Maipú St., 12th Floor - CABA

Main business of the parent company: Investment company and provider of services related to the distribution of electricity, renewable energies and development of sustainable technology

Interest held by the parent company in capital stock and votes: 51%

CAPITAL STRUCTURE AS OF MARCH 31, 2026

(amounts stated in pesos)

Class of shares

Subscribed and paid-in

(See Note 21) Common, book-entry shares, face value 1 and

1 vote per share

Class A 462,292,111

Class B (1) 442,566,330

Class C (2) 1,596,659

906,455,100

1. Includes 30,772,779 treasury shares as of March 31, 2026.

   
   
   

2. Relates to the Employee Stock Ownership Program Class C shares (Note 21).

‌Condensed Interim Separate Statement of Comprehensive Income for the three-month period ended March 31, 2026

presented in comparative form

(Stated in millions of constant pesos - Note 3)

The accompanying notes are an integral part of the Condensed Interim Separate Financial Statements.

‌Condensed Interim Separate Statement of Financial Position as of March 31, 2026 presented in comparative form

(Stated in millions of constant pesos - Note 3)

Condensed Interim Separate Statement of Financial Position as of March 31, 2026 presented in comparative form (continued) (Stated in millions of constant pesos - Note 3)

The accompanying notes are an integral part of the Condensed Interim Separate Financial Statements.

‌Condensed Interim Separate Statement of Changes in Equity for the three-month period ended March 31, 2026

presented in comparative form

(Stated in millions of constant pesos - Note 3)

C O N D E N S E D I N T E R I M S E P A R A T E F I N A N C I A L S T A T E M E N T S

Balance at December 31, 2024

Income for the three-month period

Balance at March 31, 2025

Ordinary Shareholders' Meeting held on April

28, 2025: Appropiation of reserves Other comprehensive results

Income for the nine-month complementary period

Balance at December 31, 2025

Income for the three-month period

Balance at March 31, 2026

tal uity

The accompanying notes are an integral part of the Condensed Interim Separate Financial Statements.

Condensed Interim Separate Statement of Cash Flows for the three-month period ended March 31, 2026 presented in comparative form (continued)

(Stated in millions of constant pesos - Note 3)

Adquisition of advances to suppliers, property, plant and equipment through increased trade payables

Adquisition of advances to suppliers, right-of-use assets through increased other payables

(21,120) (21,433)

(1,372) -

The accompanying notes are an integral part of the Condensed Interim Separate Financial Statements

‌Note 1 | General information

Empresa Distribuidora y Comercializadora Norte S.A. (hereinafter "edenor" or "the Company") is a corporation (sociedad anónima) organized under the laws of the Argentine Republic, with legal address at 6363 Av. Del Libertador Ave - City of Buenos Aires, Argentina, whose shares are listed on Bolsas y Mercados Argentinos S.A. (ByMA) (Argentine Stock Exchange and Securities Market), traded on Mercado Abierto Electrónico S.A. (MAE) (electronic securities and foreign currency trading market), and the New York Stock Exchange (NYSE).

The Company's corporate purpose is to engage in the provision of electricity distribution and sale services within the concession area and under the terms of the Concession Agreement by which this public service is regulated. The Company may also provide and/or sale telecommunication services; subscribe or acquire shares of other companies; hold equity interests in other companies engaged in activities related to the distribution and sale of electric power and/or the generation of electric power, whether renewable or conventional, critical minerals, digitalization, and/or artificial intelligence; provide advisory, training, operation and maintenance, consulting and management, and research and analysis services; as well as assign, for valuable consideration or free of charge, specialized know-how acquired in the development of its business activities.

The Company's economic and financial situation

The Company's economic performance has continued its trend of improvement during the first three months of this period. Since 2024, the electricity rate increases, including the approval of the 2025-2030 Electricity Rate Review, have helped restore the Company's financial and cash structure. Furthermore, it is worth pointing out that during this period, the automatic monthly periodic adjustments have continued, using the CPD inflation adjustment formula (33% based on the consumer price index (IPC) and 67% based on the wholesale price index (IPIM)), plus 0.42% above inflation in real terms, with average increases of 3%.

Additionally, and taking into consideration the expansion of the corporate purpose carried out in 2024, aimed at providing greater flexibility and actively capturing new business opportunities arising from the energy transition and sustainable mobility, the Company is currently evaluating the acquisition of other energy assets in accordance with its strategic plan to diversify, expand, and capitalize on opportunities in the energy sector, with the aim of strengthening its position in the energy industry and realizing long-term growth opportunities, including the potential acquisition-whether direct or indirect by the Company-of businesses in the power, electricity transmission, and hydrocarbons sectors, including complementary assets in the sale, final refining, and/or distribution (downstream) of hydrocarbons, oil, and their derivatives, as well as the distribution and sale of natural gas, thus allowing for the integration of businesses in this new context.

Finally, taking into consideration the impact of the electricity rate adjustments implemented, the results of operations for the period continue to reflect an improvement in the Company's operational and financial performance. Within this framework, the Company has continued to make the investments necessary to maintain grid reliability and enhance service quality through technology and innovation, aimed at more efficient energy use.

‌Note 2 | Regulatory framework

At the date of issuance of these condensed interim separate financial statements, there exist the following changes with respect to the situation reported by the Company in the Separate Financial Statements as of December 31, 2025:

1. Electricity rate situation

   On March 30, 2026, by means of Resolution No. 198/2026, the ENRE approved the values of the Company's electricity rate schedule effective from the billing relating to the reading of meters subsequent to 12:00 AM on April 1, 2026, with a 2.04% increase in the CPD.

   Furthermore, on April 30, 2026, by means of Resolution No. 109/2026, the SE approved the values of the Seasonal Price of Energy and the Power Reference Price, along with the definitive Winter Seasonal Programming for the MEM submitted by CAMMESA, relating to the May 1, 2026-October 31, 2026 period. In line with this, on May 4, 2026, by means of Resolution No. 243/2026, the ENRE approved the values of the Company's electricity rate schedule effective from the billing relating to the reading of meters subsequent to 12:00 AM on May 1, 2026, with a 4.1% increase in the CPD.

2. Agreements on the Regularization of Payment Obligations with CAMMESA - Debt for the purchase of energy in the MEM

   As of March 31, 2026, the debts payable relating to: (i) the Payment plan signed on December 29, 2022; (ii) the Payment plan signed on July 28, 2023 and converted into Argentine pesos on May 21, 2025; and (iii) the new Payment plan signed on the previously mentioned date, amount to $ 89,783,

   $ 116,439 and $ 189,476, respectively, and have been disclosed in the current and non-current Other payables account within the Statement of Financial position.

3. Framework Agreement

   On March 19, 2026, the Company and the Federal Government entered into a new agreement on the recognition of electricity consumption in vulnerable neighborhoods of the Province of Buenos Aires for the 2024-2026 period. This consumption represents 57.53% of the total consumption to be jointly recognized by the Federal Government and the Province. In this regard, the aforementioned consumption is supplied at the cost of energy, transmission and the FNEE, excluding the VAD.

   The above-mentioned agreement sets forth the consumption amounts to be recognized for 2024 and 2025 (January-October period), totaling $ 7,708 and $ 12,732, respectively; the offsetting thereof against the invoice for energy purchases from the MEM, and the carrying out of certain works in accordance with the annual investment plan, already completed by the Company in a timely manner.

   Regarding consumption for the November-December 2025 period and for 2026, the amounts to be recognized are to be defined in order to subsequently proceed based on the provisions set forth in the aforementioned agreement.

   Furthermore, the Company requested that the Infrastructure Ministry of the Province of Buenos Aires initiate the necessary administrative procedures in order to formalize an agreement for the 2024-2026 period, relating to the remaining 42.47% of the total consumption. At the date of issuance of these condensed interim separate financial statements, said agreement has not been formalized.

   As of March 31, 2026, the Company has recognized income of $ 20,440 relating to the total amounts recognized, which is disclosed in the Other operating income account, within the Statement of Comprehensive Income.

   Finally, on May 4, 2026, the National Economy Ministry, through the Energy Secretariat, instructed CAMMESA to apply the amount of $ 7,708 to offset the invoice for energy purchases from the MEM.

   ‌Note 3 | Basis of preparation

   These condensed interim separate financial statements for the three-month period ended March 31, 2026 have been prepared in accordance with the provisions of IAS 34 "Interim Financial Reporting". They were approved for issue by the Company's Board of Directors on May 8, 2026.

   By means of General Resolution No. 622/2013, the CNV provided for the application of Technical Resolution No. 26 of the FACPCE, which adopts the IFRS Accounting Standards issued by the IASB, for those entities that are included in the public offering system of Law No. 17,811, as amended, whether on account of their capital or their corporate notes, or have requested authorization to be included in the aforementioned system.

   These condensed interim separate financial statements include all the necessary information in order for the users to properly understand the relevant facts and transactions that have occurred subsequent to the issuance of the last Separate Financial Statements for the year ended December 31, 2025 and until the date of issuance of these condensed interim separate financial statements. The Company's Management estimates that they include all the necessary adjustments to fairly present the results of operations for each period. The results of operations for the three-month period ended March 31, 2026 and its comparative period as of March 31, 2025 do not necessarily reflect the Company's results in proportion to the full fiscal year. Therefore, the condensed interim separate financial statements should be read together with the audited Separate Financial Statements as of December 31, 2025 prepared under IFRS Accounting Standards.

   The Company's condensed interim separate financial statements are measured in pesos (the legal currency in Argentina), restated in accordance with that mentioned in this Note, which is also the presentation currency.

   Comparative information

   The balances as of December 31 and March 31, 2025, as the case may be, disclosed in these condensed interim separate financial statements for comparative purposes, arise as a result of restating the annual Separate Financial Statements and the Condensed Interim Separate Financial Statements as of those dates, respectively, to the purchasing power of the currency at March 31, 2026, as a consequence of the restatement of financial information described hereunder. Furthermore, in addition to the situation reported in Note 1, certain amounts of the financial statements presented in comparative form have been reclassified in order to maintain consistency of presentation with the amounts of the current periods.

   Restatement of financial information

   The condensed interim separate financial statements, including the figures relating to the previous year/period, have been stated in terms of the measuring unit current at March 31, 2026, in accordance with IAS 29 "Financial reporting in hyperinflationary economies", using the indexes published by the FACPCE. The inflation rate for the period of January 1, 2026 - March 31, 2026 was 9.4%.

   Segment information

   edenor's main activity consists of the provision of electricity distribution and sale services within the concession area. As of March 31, 2026, all the Company's revenues, expenses, assets and liabilities are associated with a single operating and geographical segment. Accordingly, no additional disaggregation by business segment is presented, as internal management and decision-making are conducted based on a single segment.

   The information disclosed in these condensed interim separate financial statements is presented in a single segment and refers to the entire Company.

   ‌Note 4 | Accounting policies

   The accounting policies adopted for these condensed interim separate financial statements are consistent with those used in the Separate Financial Statements for the last financial year, which ended on December 31, 2025.

   New accounting standards, amendments and interpretations issued by the IASB that are effective as of March 31, 2026 and have been adopted by the Company

   • IFRS 7 "Financial Instruments: Disclosures" and IFRS 9 "Financial Instruments", amended in May 2024. The amendments address matters identified during the post-implementation review of the classification and measurement requirements of financial instruments. The application of these amendments impacted neither the Company's results of operations nor its financial position.

   • Annual improvements to IFRS - Volume 11, issued in July 2024. It contains amendments to IFRS 1 "First-time adoption of IFRS", IFRS 7 "Financial Instruments: Disclosures", IFRS 9 "Financial Instruments", IFRS 10 "Consolidated Financial Statements" and IAS 7 "Statement of Cash Flows". The application of these amendments impacted neither the Company's results of operations nor its financial position.

     There are no new IFRS Accounting Standards or IFRIC applicable as from this period that

     have a material impact on the Company's condensed interim separate financial statements.

     New accounting standards, amendments and interpretations issued by the IASB that are not yet effective and have not been early adopted by the Company

     In accordance with Title IV, Chapter III, Section 1 of CNV Regulations, the early adoption of IFRS and/or their amendments is not permitted, unless specifically allowed at the time of adoption.

   • IFRS 18 "Presentation and disclosure in financial statements", issued in April 2024. It includes new requirements for all entities applying IFRS for the presentation and disclosure of information in financial statements. It introduces three defined categories of income and expenses (operating, investing and financing) that modify the structure of the statement of profit or loss, and requires companies to present new defined subtotals, including operating profit or loss, in order to analyze the companies' financial performance and facilitate comparison between companies. The standard requires companies to disclose explanations of those company-specific measures that are related to the statement of profit or loss, referred to as management-defined performance measures. It provides enhanced guidance on how to organize information and whether to provide it in the primary financial statements or in the notes. It requires that companies provide more transparency about operating expenses. The management-defined performance measures, as defined by IFRS 18, consist of measures that are subtotals of income and expenses. IFRS 18 does not require companies to provide management-defined performance measures but does require companies to explain them if they are provided.

     IFRS 18 replaces IAS 1 "Presentation of financial statements" but carries forward many requirements from IAS 1 unchanged. IFRS 18 is effective for annual reporting periods beginning as from January 1, 2027, with early adoption permitted. In this regard, the Company is currently assessing the impact of IFRS 18 and estimates that there will be significant changes in the disclosure of the Statement of Comprehensive Income and its related notes.

   • IFRS 19 "Subsidiaries without public accountability: Disclosures", issued in May 2024. It specifies reduced disclosure requirements that an eligible entity is permitted to apply instead of the disclosure requirements in other IFRS. IFRS 19 is effective for annual reporting periods beginning as from January 1, 2027, with early adoption permitted.

   • IAS 21 "The effects of changes in foreign exchange rates", amended in November 2025. It clarifies how companies should translate their financial statements from a non-hyperinflationary currency into a hyperinflationary one. The amendments are effective for annual reporting periods beginning as from January 1, 2027.

   ‌Note 5 | Financial risk management Note 5.1 | Financial risk factors

   The Company's activities and the market in which it operates expose the Company to a number of financial risks: market risk (including currency risk, cash flows interest rate risk, fair value interest rate risk and price risk), credit risk and liquidity risk.

   Additionally, the difficulty in obtaining financing in international or national markets could affect certain variables of the Company's business, such as interest rates, foreign currency exchange rates and the access to sources of financing.

   With regard to the Company's risk management policies, there have been no significant

   changes since the last fiscal year-end.

   1. Market risks

      1. Currency risk

         As of March 31, 2026 and December 31, 2025, the Company's balances in foreign currency are as follow:

         Amount in foreign

         Exchange

         Currency currency rate (1) 03.31.26 12.31.25

         ASSETS CURRENT ASSETS
         Other receivables	USD	15.6	1373.000	21,419		21,839
         Financial assets at amortized cost	USD	3.5	1373.000	4,806		4,906
         Financial assets at fair value through profit or loss	USD	342.9	1373.000	470,802		567,971
         Cash and cash equivalents	USD	82.8	1373.000	113,684		138,313
         TOTAL CURRENT ASSETS				610,711		733,029
         TOTAL ASSETS				610,711		733,029
         LIABILITIES
         NON-CURRENT LIABILITIES
         Borrowings	USD	534.0	1382.000	738,031		715,749
         TOTAL NON-CURRENT LIABILITIES				738,031		715,749
         CURRENT LIABILITIES
         Trade payables	USD	23.7	1382.000	32,753		35,988
         	EUR	-	1598.283	-		938
         Borrowings	USD	118.5	1382.000	163,805		291,816
         TOTAL CURRENT LIABILITIES				196,558		328,742
         TOTAL LIABILITIES				934,589		1,044,491

         (1) The exchange rates used are the BNA exchange rates in effect as of March 31, 2026 for United States dollars (USD), and Euros (EUR).

      2. Fair value estimate

         The Company classifies the measurements of financial instruments at fair value using a fair value hierarchy that reflects the relevance of the variables used for carrying out such measurements. The fair value hierarchy has the following levels:

         • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

         • Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from the prices).

         • Level 3: inputs for the asset or liability that are not based on observable market data (i.e. unobservable inputs).

         The table below shows the Company's financial assets and liabilities measured at fair value

         as of March 31, 2026 and December 31, 2025:

         LEVEL 1 LEVEL 3

         At March 31, 2026 Assets
         Other receivables Assigned assets and in custody	17,111		-
         Financial assets at fair value through profit or loss:
         Negotiable instruments	149,454		-
         Mutual funds	424,354		-
         Shares	-		50,976
         Cash and cash equivalents:
         Mutual funds	8,968		-
         Total assets	599,887		50,976

         LEVEL 1 LEVEL 3

         At December 31, 2025 Assets
         Other receivables
         Assigned assets and in custody	19,241		-
         Financial assets at fair value
         through profit or loss:
         Negotiable instruments	143,224		-
         Mutual funds	475,857		-
         Shares	-		58,756
         Cash and cash equivalents Mutual funds	66,144		-
         Total assets	704,466		58,756

         As of March 31, 2026, the Company has investments in equity instruments relating to minority interests in unlisted companies, engaged in the development of early-stage mining projects. As there is no active market for these shares, their fair value was classified within Level 3 of the hierarchy established by IFRS 13.

         The fair value of these investments was determined on the basis of valuation reports prepared by independent experts, using a market approach based on recent comparable transactions involving properties at similar exploration stages, adjusted for specific conditions, such as location, degree of geological development, and macroeconomic environment. The applied method consisted of using per-hectare multiples, weighted according to the aforementioned factors.

         Significant unobservable variables

         Among the key unobservable inputs included in the valuation, the following stand out:

         • Market value per hectare adjusted for geological prospectivity.

         • Project development stage (pre-exploration or initial exploration).

         • Exclusion of transactions in non-applicable geographic regions.

         The properties comprise projects at the initial stage of exploration in the lithium, copper, and gold sectors, located in regions with high mining activity and strong discovery potential, such as the province of Catamarca (mountain range area and western salt flats) and border areas between Argentina and Chile. Due to the fact that most of these properties show little or no exploration development, and that there is no active market for this type of assets, their valuation was determined based on third-party comparable transactions carried out over the last five years. These transactions were adjusted according to the exploration stage, location, and other particular conditions of each project.

         For lithium-related properties, mainly located in salt flats and brine areas, reference values range from USD 80 to USD 985 per hectare, taking into account geological prospectivity and the limited available information. As for copper and gold projects, located in areas with early exploration activity and high potential but without defined resources, the range considered varies between USD 200 and USD 1,000 per hectare, using comparable transactions in the region as a reference.

         Sensitivity

         Due to the fact that the fair value estimate is subject to significant uncertainties arising from the absence of an active market for these assets, reasonable changes in the variables used (for example, variations in reference multiples or in the assessment of the geological potential) could significantly impact the value assigned to the investments (Note 19).

      3. Interest rate risk

Interest rate risk is the risk of fluctuation in the fair value or cash flows of an instrument due to changes in market interest rates. The Company's exposure to interest rate risk is mainly related to its long-term debt obligations.

Indebtedness at floating rates exposes the Company to interest rate risk on its cash flows. Indebtedness at fixed rates exposes the Company to interest rate risk on the fair value of its liabilities. As of March 31, 2026, with the exception of both the Class No. 9 Corporate Notes issued by the Company in Argentine pesos, at a TAMAR floating interest rate plus an annual 6% fixed margin, and the bank loans in Argentine pesos (Note 25), all loans were obtained at fixed interest rates. The Company's policy is to keep the largest percentage of its indebtedness in instruments that accrue interest at fixed rates.

‌Note 6 | Critical accounting estimates and judgments

The preparation of the condensed interim separate financial statements requires the Company's Management to make estimates and assessments concerning the future, exercise critical judgment and make assumptions that affect the application of the accounting policies and the reported amounts of assets and liabilities and revenues and expenses.

These estimates and judgments are permanently evaluated and are based upon past experience and other factors that are reasonable under the existing circumstances. Future actual results may differ from the estimates and assessments made at the date of preparation of these condensed interim separate financial statements.

In the preparation of these condensed interim separate financial statements, there were no changes in either the critical judgments made by the Company when applying its accounting policies or the sources of estimation uncertainty used with respect to those applied in the Separate Financial Statements for the year ended December 31, 2025.

‌Note 7 | Contingencies and lawsuits

The provision for contingencies has been recorded to face situations existing at the end of each period that may result in a loss for the Company if one or more future events occurred or failed to occur.

At the date of issuance of these condensed interim separate financial statements, there are no significant changes with respect to the situation reported by the Company in the Separate Financial Statements as of December 31, 2025.

‌Note 8 | Revenue from sales and energy purchases

We provide below a brief description of the main services provided by the Company:

Sales of electricity Small demand segment:

Residential use

and public lighting (T1) Medium demand segment: Commercial and industrial customers (T2) Large demand segment (T3)

Other: (Shantytowns/ Wheeling system)

Relates to the highest demand average recorded over 15 consecutive minutes that is less than 10 kilowatts. In turn, this segment is subdivided into different residential categories based on consumption. This segment also includes a subcategory for public lighting. Users are categorized by the Company according to their consumption.

Relates to the highest demand average recorded over 15 consecutive minutes that is equal to or greater than 10 Kilowatts but less than 50 Kilowatts. The Company agrees with the user the supply capacity.

Relates to the highest demand average recorded over 15 consecutive minutes that is greater than 50 Kilowatts. In turn, this segment is subdivided into categories according to the supply voltage -low, medium or high-, from voltages of up to 1 Kilovolt to voltages greater than 66 Kilovolts.

Revenue is recognized in the period in which the service provided to certain shantytowns is accrued. In the case of the service related to the Wheeling system, revenue is recognized when the Company allows third parties (generators and large users) to access the available transmission capacity within its distribution system upon payment of a wheeling fee.

The KWh price relating to the Company's sales of electricity is determined by the ENRE by means of the periodic publication of electricity rate schedules (Note 2.a), for those distributors that are regulated by the aforementioned Regulatory Authority, based on the rate setting and adjustment process set forth in the Concession Agreement.

Other services Right of use of poles

Connection and reconnection

Revenue is recognized to the extent that the rental value of the right of use of the poles used by the Company's electricity network has been agreed upon for the benefit of third parties.

Relate to revenue accrued for the carrying out of the electricity supply connection of new customers or the reconnection of already existing users.

charges

Energy purchases

Energy purchase

Energy losses

The Company bills its users the cost of its purchases of energy, which includes charges for purchases of energy and power. The Company purchases electric power at seasonal prices approved by the SE. The price of the Company's electric power reflects the costs of transmission and other regulatory charges.

Energy losses are equivalent to the difference between energy purchased and energy sold. These losses can be classified into technical and non-technical losses. Technical losses represent the energy lost during transmission and distribution within the network as a consequence of the natural heating of the conductors and transformers that carry electricity from power generation plants to users. Non-technical losses represent the remainder of the Company's energy losses and are mainly due to the illegal use of its services or the theft of energy. Energy losses require that the Company purchase additional energy in order to meet the demand and its Concession Agreement allows it to recover from its users the cost of these purchases up to a loss factor specified in its concession for each rate category. The current loss factor recognized in the tariff by virtue of its concession amounts

approximately to 10%.

03.31.26 03.31.25

GWh $ GWh $

Sales of electricity

Small demand segment: Residential use and public lighting (T1)

Medium demand segment: Commercial and

(1) As of March 31, 2026 and 2025, the cost of energy purchases includes technical and non-technical energy losses for 962 GWh and 1,098 GWh, respectively.

‌Note 9 | Expenses by nature

The detail of expenses by nature is as follows:

Expenses by nature at 03.31.26

The expenses included in the chart above are net of the Company's own expenses capitalized

in property, plant and equipment as of March 31, 2026 for $ 9,834.

Expenses by nature at 03.31.25

The expenses included in the chart above are net of the Company's own expenses capitalized

in property, plant and equipment as of March 31, 2025 for $ 10,992.

‌Note 10 | Other operating income (expense), net

Changes in fair value of financial assets

Changes in fair value of financial liabilities

9,176 13,032

- (1,073)

Exchange differences 14,445 (3,873)

Adjustment to present value of

(890) (1,474)

(*) As of March 31, 2026 and 2025, $ 17,995 and $ 18,698, respectively, relate to Empresa de Energía del Cono Sur S.A. technical assistance.

‌Note 12 | Basic and diluted earnings per share

Basic

The basic earnings per share are calculated by dividing the profit attributable to the holders of the Company's equity instruments by the weighted average number of common shares outstanding as of March 31, 2026 and 2025, excluding common shares purchased by the Company and held as treasury shares.

The basic earnings per share coincide with the diluted earnings per share, inasmuch as there exist neither preferred shares nor Corporate Notes convertible into common shares.

Income for the period attributable to the owners of the Company

Weighted average number of common shares

03.31.26 03.31.25

117,854 47,620

875 875

outstanding

Basic and diluted income per share - in pesos 134.69 54.42

‌Note 13 | Property, plant and equipment

Lands and

High, medium and low voltage

Meters and Transformer chambers and

Tools, Furniture, vehicles, equipment and

Construction

Supplies and

buildings Substations lines platforms communications in process spare parts Total At 12.31.25

Cost 124,127 1,118,855 2,929,532 1,292,003 428,100 1,312,718 48,115 7,253,450

Accumulated depreciation (37,762) (487,428) (1,327,309) (622,611) (254,075) - - (2,729,185)

Net amount 86,365 631,427 1,602,223 669,392 174,025 1,312,718 48,115 4,524,265

Depreciation for the period (643) (10,000) (22,933) (11,856) (8,950) - - (54,382)

Net amount 03.31.26 98,469 657,016 1,601,993 672,936 176,570 1,283,385 48,115 4,538,484

At 03.31.26

Cost 136,874 1,154,444 2,950,546 1,307,090 439,224 1,283,385 48,115 7,319,678

Accumulated depreciation (38,405) (497,428) (1,348,553) (634,154) (262,654) - - (2,781,194)

Net amount 98,469 657,016 1,601,993 672,936 176,570 1,283,385 48,115 4,538,484

• During the period ended March 31, 2026, the Company capitalized as direct own costs $ 9,834.

  Lands and

  High, medium and low voltage

  Meters and Transformer chambers and

  Tools, Furniture, vehicles, equipment and

  Construction

  Supplies and

  buildings Substations lines platforms communications in process spare parts Total At 12.31.24

  Cost 117,178 1,061,659 2,689,686 1,205,627 427,645 1,298,018 49,318 6,849,131

  Accumulated depreciation (35,862) (449,765) (1,242,587) (575,316) (222,740) - - (2,526,270)

  Net amount 81,316 611,894 1,447,099 630,311 204,905 1,298,018 49,318 4,322,861

  Additions	230	3	83	4,971	2,045	97,959	1	105,292
  Disposals	-	(4)	(621)	(2,095)	-	-	-	(2,720)
  Transfers	4,491	19,049	70,095	16,063	(10,508)	(99,190)	-	-

  Depreciation for the period (468) (9,279) (21,771) (11,199) (8,135) - - (50,852)

  Net amount 03.31.25 85,569 621,663 1,494,885 638,051 188,307 1,296,787 49,319 4,374,581

  At 03.31.25
  Cost	121,899	1,080,659	2,757,829	1,223,248	418,632	1,296,787	49,319	6,948,373

  Accumulated depreciation (36,330) (458,996) (1,262,944) (585,197) (230,325) - - (2,573,792)

  Net amount 85,569 621,663 1,494,885 638,051 188,307 1,296,787 49,319 4,374,581

• During the period ended March 31, 2025, the Company capitalized as direct own costs $ 10,992.

‌Note 14 | Right-of-use assets

The leases recognized as right-of-use assets in accordance with IFRS 16 are disclosed below:

The development of right-of-use assets is as follows:

‌Note 15 | Inventories

03.31.26 12.31.25

Supplies and spare-parts 253,666 255,335

‌Note 16 | Other receivables

Note 03.31.26 12.31.25

(1) As of March 31, 2026 and December 31, 2025, relate to Securities issued by private companies for NV 10,500,000, assigned to Global Valores S.A. The Company retains the risks and rewards of the aforementioned assets and may make use of them at any time, at its own request.

The value of the Company's other financial receivables approximates their fair value.

The non-current other receivables are measured at amortized cost, which does not differ significantly from their fair value.

The roll forward of the allowance for the impairment of other receivables is as follows:

Fee payable for the expansion of the transportation 2 2

and others

Total current 497,976 543,120

The value of the Company's trade receivables approximates their fair value.

The roll forward of the allowance for the impairment of trade receivables is as follows:

‌Note 18 | Financial assets at amortized cost

03.31.26 12.31.25

Negotiable instruments 30,264 25,752

‌Note 19 | Financial assets at fair value through profit or loss

The non-current shares relate to acquisitions of minority interests in the share capital of two companies engaged in the development of mining projects aimed at the exploration of critical minerals, such as lithium and copper, at an early-stage or pre-exploration phase, in the province of Catamarca, whose adjacent areas show high prospectivity. Those acquisitions represent 15% and 40% of those companies' share capital, with political rights in the latter case being limited to 11.8%. The Company has recognized these investments at their fair value in accordance with IFRS 9.

The fair value of the shares as of March 31, 2026 amounts to $ 50,976 and has been determined on the basis of valuation reports prepared by independent experts, which take into consideration third-party comparable transactions involving properties at similar exploration stages. Due to the fact that there is no active market for the shares, a per-hectare multiples approach was used, adjusted for geological characteristics, location and market conditions. The applicable fair value category is Level 3 (Note 5).

The reconciliation of the balances of cash and cash equivalents that are disclosed in the Statement of Cash Flows in accordance with the provisions of IAS 7 is as follows:

‌Note 21 | Share capital and additional paid-in capital

Balance at March 31, 2026 and at December 31, 2025

Additional paid-

Share capital in capital Total 1,093,040 14,869 1,107,909

As of March 31, 2026, the Company's share capital amounts to 906,455,100 shares, divided into 462,292,111 common, book-entry Class A shares with a par value of one peso each and the right to one vote per share, 442,566,330 common, book-entry Class B shares with a par value of one peso each and the right to one vote per share, and 1,596,659 common, book-entry Class C shares with a par value of one peso each and the right to one vote per share.

‌Note 22 | Allocation of profits

The restrictions on the distribution of dividends by the Company are those provided for by the Business Organizations Law and by the negative covenants established by the Corporate Notes program.

If the Company's Debt Ratio were higher than 3.75, the negative covenants set out in the Corporate Notes program, which establish, among other issues, the Company's impossibility to make certain payments, such as dividends, would apply.

Additionally, in accordance with Title IV, Chapter III, section 3.11.c of the CNV regulations, the amounts subject to distribution will be restricted to the amount equivalent to the acquisition cost of the Company's own shares. In this regard, the Company has special-purpose reserves to cover the aforementioned restriction.

(1) As of March 31, 2026, is disclosed net of the credits recognized in the Framework Agreement for $ 20,440 (Note 2.c). As of March 31, 2026 and December 31, 2025, includes $ 950 and $ 44,651 relating to post-dated checks issued by the Company in favor of CAMMESA, respectively.

The value of the financial liabilities included in the Company's trade payables approximates

their fair value.

The value of the rest of the financial liabilities included in the Company's other payables

approximates their fair value.

(1) The development of the finance lease liability is as follows:

‌Note 25 | Borrowings

1. Net of debt issuance, repurchase and redemption expenses.

2. The table below outlines the Company's financing arrangements with banks:

   in ARS in ARS in ARS

   Bank

   Annual loan rate

   Financial loans at 03/31/2026

   Financial loans at

   Annual overdraft rate

   Bank overdrafts at

   Bank overdrafts at

   Balances at 03/31/2026

   Balances at 12/31/2025

   12/31/2025

   03/31/2026

   12/31/2025

   Nación	33%	20,145	22,092	23%	4,998	5,464	25,143	27,556
   Credicoop	37%	15,995	10,116	-	-	10,968	15,995	21,084
   Provincia	36%	24,898	17,158	-	-	-	24,898	17,158
   ICBC	40%	67,005	74,930	24%	7,187	1,191	74,192	76,121
   Santa Fe	42%	25,378	-	-	-	-	25,378	-
   Ciudad	-	-	-	22%	12,969	16,382	12,969	16,382
   Macro	-	-	-	23%	25,657	32,832	25,657	32,832
   Industrial	- -		-	- -		5,461	- 5,461
   Total	153,421		124,296	50,811		72,298	204,232 196,594

3. Relates to post-dated checks issued by the Company to its own order and discounted with financial institutions. These discounting operations provide financing and accrue interest.

The fair values of the Company's Corporate Notes as of March 31, 2026 and December 31, 2025 amount approximately to $ 992,762 and $ 1,091,947 respectively. Those values have been determined on the basis of the estimated market price of the Corporate Notes at the end of the period/year. The applicable fair value category is Level 1.

The Company is subject to covenants that limit its ability to incur indebtedness pursuant to the terms and conditions of Classes Nos. 3, 5, 7 and 9 Corporate Notes, which indicate that the Company may not incur new Indebtedness, except for certain Permitted Indebtedness or when the Debt ratio is not greater than 3.75 or less than zero and the Interest Expense Coverage ratio is less than 2. As of March 31, 2026, the values of the aforementioned ratios meet the established parameters.

Based on the above, the Company's Corporate Note debt structure is comprised of as follows:

in USD in millions of $

Corporate Notes Class

Financial debt at Issue 12/31/2025

Payment / Repurchase

Financial debt at 03/31/2026

Financial debt at 12/31/2025

Financial debt at 03/31/2026

in USD in millions of $

Corporate Notes Class

Financial debt at Issue 12/31/2024

Payment / Repurchase

Financial debt at 12/31/2025

Financial debt at 12/31/2024

Financial debt at 12/31/2025

(*) Issuance in ARS, translated into USD at the exchange rate detailed in Note 5.

The maturities of the Company's borrowings and their exposure to interest rates are as follow:

The Company's borrowings are denominated in the following currencies:

The Company approved the terms of issue of Class No. 10, US dollar-denominated Corporate Notes, due in 2031, 2032 and 2033, to be issued in an aggregate principal amount of up to USD 300,000,000, which may be increased to USD 550,000,000, in the framework of the Global Program for the Issuance of Simple Corporate Notes, in accordance with the provisions of the Prospectus Supplement dated April 15, 2026.

Furthermore, simultaneously with the issuance mentioned above, the Company launched a Cash Tender Offer to acquire up to USD 150,000,000 of its outstanding Class No. 7 Corporate Notes.

In this regard, on April 28, 2026, the Company issued Class No. 10 -Series I and II- Corporate Notes for a principal amount of USD 523,338,243 and USD 26,661,757, respectively (with bids totaling USD 1,151,000,000).

In particular, the Class No. 10 Series II Corporate Notes were paid in kind through the delivery of the Company's Class No. 3 and Class No. 5 Corporate Notes, which were subsequently canceled for the aforementioned amount.

Additionally, as a result of the "Early Tender" within the framework of the Tender Offer for Class No. 7 Corporate Notes, the Company increased the maximum acceptance amount to USD 175,000,000, thereby accepting the tendered corporate notes on a pro-rata basis up to said amount. Consequently, on April 30, 2026, the Company redeemed USD 175,000,000 of the Class No. 7 Corporate Notes for cash, reducing the outstanding amount to USD 300,000,000.

‌Note 26 | Deferred revenue

03.31.26 12.31.25

Non-current

Nonrefundable customer contributions 26,424 30,454

Investment plan - Agreement on the

120,953 121,973

Regularization of Obligations (1)

Total non-current 147,377 152,427

Current

Nonrefundable customer contributions 4,453 824

1. As of March 31, 2026 and December 31, 2025, includes $ 104,243 and $ 105,164 relating to the investment plan of the Agreement on the Regularization of Payment Obligations entered into in May 2019, and $ 16,710 and $ 16,809 relating to the investment plan of the Agreement on the Regularization of Payment Obligations entered into in December 2022, respectively.

   ‌Note 27 | Salaries and social security taxes payable

   Non-current Seniority-based bonus	03.31.26 10,489	12.31.25 11,513
   Current
   Salaries payable and provisions	51,563	54,848
   Social security payable	41,989	37,531
   Early retirements payable	3,319	3,632
   Total current	96,871	96,011

   The value of the Company's salaries and social security taxes payable approximates their fair

   value.

   ‌Note 28 | Income tax and deferred tax

   The breakdown of income tax, determined in accordance with the provisions of IAS 12, is as

   follows:

   	03.31.26	03.31.25
   Deferred tax	39,771	22,521
   Current tax	(96,545)	(22,129)
   Difference between provision and tax return	-	(440)
   Income tax expense	(56,774)	(48)

   The detail of the income tax expense for the period includes two effects: (i) the current tax for the period payable in accordance with the tax legislation applicable to the Company; and (ii) the effect of applying the deferred tax method on the temporary differences arising from the valuation of assets and liabilities for accounting and tax purposes.

   The breakdown of deferred tax assets and liabilities is as follows:

   03.31.26 12.31.25

   Deferred tax assets

   Trade receivables and other receivables	11,386	11,108
   Trade payables and other payables	5,215	-
   Salaries and social security payable and Benefit plans	14,676	10,676
   Tax liabilities	1,954	125
   Provisions	17,802	18,619
   Deferred tax asset	51,033	40,528
   Deferred tax liabilities
   Property, plant and equipment	(838,196)	(852,911)
   Financial assets at fair value through profit or (84,286) (96,368)
   loss
   Trade payables and other payables	-		(2,358)
   Borrowings	(8,730)		(8,841)
   Deferred tax liability	(931,212)		(960,478)
   Net deferred tax liability	(880,179)		(919,950)

   Based on the guidelines provided for in IFRIC 23 "Uncertainty over income tax treatments", the Company has restated for inflation the cumulative tax losses and fixed assets depreciation for additions prior to January 1, 2018, using the wholesale price index, general level (IPIM) and the consumer price index, general level (IPC), respectively. This criterion has been adopted taking into consideration that the effective income tax rate shows a confiscatory result, in line with the Supreme Court of Justice of Argentina's decision rendered in the case entitled "Telefónica de Argentina SA and Another vs/EN-AFIP-DGI, General Tax Bureau" on October 25, 2022.

   The reconciliation between the income tax expense recognized in profit or loss and the amount that would result from applying the applicable tax rate to the accounting income before taxes, is as follows:

   	03.31.26	03.31.25
   Income for the period before taxes	174,628	47,668
   Applicable tax rate	35%	35%
   Result for the period at the tax rate	(61,120)	(16,684)
   Gain on net monetary position	50,851	47,229
   Adjustment effect on tax inflation	(46,461)	(29,957)
   Non-taxable income	(44)	(196)
   Difference between provision and tax return	-	(440)
   Income tax expense	(56,774)	(48)

   The income tax payable, net of withholdings is as follows:

   Non-current	03.31.26	12.31.25
   Tax payable 2026	96,545	-
   Total non-current	96,545	-
   Current Tax payable 2025	116,903	127,941
   Tax withholdings	(27,593)	(25,476)
   Total current	89,310	102,465

   ‌Note 29 | Tax liabilities

   Current	03.31.26	12.31.25
   Provincial, municipal and federal contributions and taxes	3,727	5,373
   VAT payable	24,450	54,789
   Tax withholdings	19,529	21,873
   SUSS withholdings	521	423
   Municipal taxes	5,644	5,952
   Total current	53,871	88,410

   ‌Note 30 | Provisions

   Included in non-current liabilities

   For contingencies

   	03.31.26		03.31.25
   Balance at the beggining of the year	26,273		30,957
   Increases	285		5,068
   Result from exposure to inflation for the period	(2,285)		(2,464)
   Balance at the end of the period	24,273		33,561
   Included in current liabilities
   For contingencies
   	03.31.26		03.31.25
   Balance at the beggining of the year	26,817		11,651
   Increases	3,068		2,854
   Decreases	(1,059)		(1,005)
   Result from exposure to inflation for the period	(2,333)		(927)
   Balance at the end of the period	26,493		12,573

   ‌Note 31 | Related-party transactions

   The following transactions were carried out with related parties:

   1. Expense

      Company Concept 03.31.26 03.31.25

      EDELCOS S.A. Technical advisory services on financial matters

      SACME Operation and oversight of the electric power transmission system

      (17,995) (18,698)

      (868) (1,313)

      Quantum Finanzas S.A. Legal fees (73) -

      (18,936) (20,011)

   2. Key Management personnel's remuneration

03.31.26 03.31.25

Salaries 10,311 9,164

The balances with related parties are as follow:

‌Note 32 | Shareholders' Meeting

The Company's Annual General Meeting held on April 29, 2026 resolved, among other issues, the following:

• To approve the Company's Annual Report and Financial Statements as of December 31,

  2025.

• To allocate the $ 239,236 profit for the year ended December 31, 2025 (which at the purchasing power of the currency at March 31, 2026 amounts to $ 261,825) as follows:

  $11,962 to the setting up of the Statutory Reserve, and $227,274 to the setting up of the Discretionary Reserve (which at the purchasing power of the currency at March 31, 2026 amount to $13,091 and $248,734, respectively), in accordance with the terms of section 70, 3rd paragraph, of Business Organizations Law No. 19,550.

• To approve the actions taken by the Directors and Supervisory Committee members, together with their respective remunerations.

• To appoint Directors, Supervisory Committee members and the external auditors for the current fiscal year.

‌Note 33 | Events after the reporting period

The following are the events that occurred subsequent to March 31, 2026:

• Issuance of Class No. 10 Corporate Notes and redemption of Class No. 7 Corporate Notes, Note 25.

• Amendment to both the seasonal reference prices and the values of the Company's electricity rate schedules - SE Resolution No. 109/2026 and ENRE Resolution No. 243/2026, Note 2.a.

• Shareholders' Meeting, Note 32.

• Recognition of electricity consumption Framework Agreement, Note 2.c.

DANIEL MARX

Chairman

To the Shareholders, President and Directors of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (Edenor S.A.)

We have reviewed the accompanying condensed separate interim statement of financial position of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (Edenor S.A.) as at March 31, 2026 and the related condensed separate interim statements of comprehensive income, changes in equity and cash flows for the three-month period then ended and selected explanatory notes.

The board of Directors is responsible for the preparation and presentation of this condensed separate interim financial information in accordance with IFRS Accounting Standards and is therefore responsible for the preparation and presentation of the condensed interim financial statements mentioned in the first paragraph, in accordance with International Accounting Standard 34 (IAS 34).

We conducted our review in accordance with International Standard on Review Engagements 2410, 'Review of interim financial information performed by the independent auditor of the entity'. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

https://www.pwc.com.ar

Price Waterhouse & Co. S.R.L. Bouchard 557, 8th floor, C1106ABG Autonomous City of Buenos Aires, Argentina, T: +(54.11) 4850.0000

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed separate interim financial information is not prepared, in all material respects, in accordance with IAS 34.

Autonomous City of Buenos Aires, May 8, 2026

PRICE WATERHOUSE & CO. S.R.L.

(Partner)

C.P.C.E.C.A.B.A. Tº 1 Fº 17

Dr. Nicolás A. Carusoni

Contador Público (UM) C.P.C.E.C.A.B.A. T° 252 F° 141