Central Puerto S.A. (NYSE:CEPU) Q1 2022 Earnings Conference Call May 13, 2022 11:00 AM ET Company Participants Fernando Bonnet - Chief Executive Officer Milagros Grande - Financial Manager Conference Call Participants MartÃn Arancet - Balanz Capital John Barnett - Barnett & Associates Operator Good morning and welcome to the Central Puerto Conference Call following the Results Announcement for the First Quarter Ended on March 31st 2022. All participants will be in a listen-only mode. [Operator Instructions] ...

Installed Capacity and Energy Generation - Installed capacity reached 42,871 MW in 1Q2022, a 1.4% increase from 42,286 MW in 1Q2021, with renewable capacity rising 14.3% to 5,008 MW[16] - Energy generation increased by 1% to 35,719 GWh in 1Q2022, driven by a 2% rise in thermal generation and a 37% increase in nuclear generation, while hydro generation decreased by 26%[19] - Renewable energy's share of installed capacity reached 14% in 1Q2022, up 3 percentage points from 1Q2021[23] - The installed capacity from thermal sources decreased by 0.2% from 25,315 MW in 1Q2021 to 25,274 MW in 1Q2022[16] - The availability of thermal generation decreased to 84% in 1Q2022, down 5 percentage points from the previous year[27] - Machine availability for thermal units was 84% in 1Q2022, compared to 89% in the same period of 2021, with the market average at 76%[32] Energy Demand - Energy demand rose 4% to 34,520 GWh in 1Q2022, with residential demand increasing by 5% and commercial demand by 7%[25] - The increase in energy demand is attributed to the recovery of economic activity and lower COVID-19 restrictions compared to the previous year[25] Financial Performance - Revenues increased to Ps. 17.2 billion in 1Q2022, an 8.8% increase from Ps. 15.8 billion in 1Q2021, driven by a 7% increase in sales under contracts and an 8% increase in Energía Base Sales[39] - Adjusted EBITDA was Ps. 15.7 billion in 1Q2022, a 5% increase from Ps. 15.0 billion in 1Q2021, despite a 38% decrease in foreign exchange difference on operating assets[42] - Consolidated net income for 1Q2022 was Ps. 4.8 billion, a 382% increase compared to Ps. 1 billion in 1Q2021, positively impacted by higher financial income and lower financial expenses[44] - Operating income before other operating results was Ps. 8.6 billion, a 32% increase from Ps. 6.5 billion in 1Q2021, due to a 9% increase in revenues and a 6% decrease in costs of sales[41] Cash Flow and Financial Position - Cash and cash equivalents as of March 31, 2022, were Ps. 0.3 billion, with other current financial assets totaling Ps. 25.9 billion[48] - Financial debt stood at Ps. 15.8 billion as of March 31, 2022, with a consolidated net debt position of Ps. 17.4 billion[49] - Net cash provided by operating activities was Ps. 8.15 billion during 3M2022, driven by a gross profit of Ps. 6.6 billion[54] - Net cash used in investing activities amounted to Ps. 6.0 billion, primarily for the acquisition of other financial assets totaling Ps. 5.8 billion[55] - Total assets as of March 31, 2022, were Ps. 230.75 billion, a decrease from Ps. 233.25 billion as of December 31, 2021[60] - Total equity increased to Ps. 151.96 billion from Ps. 147.17 billion year-over-year[62] - Cash and cash equivalents at the end of the period were Ps. 315 million, down from Ps. 327 million at the beginning[52] Expenses and Inflation - The company experienced a 24% inflation rate in 1Q2022, compared to 12.95% in 1Q2021, impacting financial performance[38] - Administrative and selling expenses decreased to Ps. 0.99 billion from Ps. 1.23 billion year-over-year[58] - Financial expenses decreased significantly to Ps. 4.71 billion from Ps. 10.88 billion in the previous year[58] Other Financial Metrics - The share of profit of associates was a loss of Ps. 0.19 billion in 1Q2022, an improvement from a loss of Ps. 0.41 billion in 1Q2021[47] - The company reported a loss on net monetary position of Ps. 3.15 billion, compared to a gain of Ps. 0.28 billion in the previous year[58] - Earnings per share for 3M2022 were Ps. 3.18, compared to Ps. 0.65 in 3M2021[59] - The company reported a foreign exchange difference for trade receivables of $(2,761,549), compared to $(4,439,146) in the previous period[1] - The loss on net monetary position was $1,947,296, a significant improvement from a loss of $(7,795,569) in the prior period[1] Future Plans - The company plans to discuss its first quarter 2022 results in a conference call scheduled for May 13, 2022[2]

Remuneration and Pricing - From February 1, 2020, a new remuneration scheme for Energía Base was implemented, resulting in a 16% reduction in initial power prices for thermal units and a 45% reduction for hydroelectric plants[420]. - As of February 2021, remuneration prices were updated by approximately 29% under Resolution SE 440/21, impacting generation revenues[422]. - A new remuneration scheme for peak demand hours was established to mitigate fixed power prices, considering the equipment of generating companies[420]. Electricity Generation and Capacity - Electricity generation in Argentina increased by 5.7% in 2021, rising from 134,177 GWh in 2020 to 141,797 GWh in 2021[425]. - Thermal generation accounted for 64% of electricity supply in 2021, contributing 90,073 GWh, while hydroelectric generation contributed 24,116 GWh (17%)[427]. - Installed generation capacity increased from 41,951 MW in 2020 to 42,989 MW in 2021, driven by new thermal and renewable energy units[428]. - In 2021, renewable energy generation increased by 63% compared to 2019, mainly due to new wind and solar farms[427]. Financial Performance - Revenues for 2021 totaled Ps. 57.08 billion, a 0.77% decrease from Ps. 57.52 billion in 2020, primarily due to a 9.7% decrease in spot sales/Energía Base[452]. - Operating income for 2021 was Ps. 25.71 billion, a 39.04% decrease from Ps. 42.18 billion in 2020[452]. - Net loss for the year was Ps. 647.86 million, a 106.17% decrease from a net income of Ps. 10.50 billion in 2020[452]. - Finance income decreased by 75.06% to Ps. 1.94 billion in 2021, compared to Ps. 7.79 billion in 2020[452]. - Total cost of sales for the year ended December 31, 2021, was Ps. 29.56 billion, a 16.47% increase from Ps. 25.38 billion in 2020[459]. Impairment and Asset Management - An impairment loss of Ps. 4,703.1 million was recognized for the Thermal Station Brigadier López due to its book value exceeding its recoverable value[440]. - The impairment loss recognized for Nuevo Puerto combined cycle power plant was Ps. 1,025.2 million, resulting in a net book value of Ps. 4,221.9 million[442]. - Total impairment of property, plant, and equipment and intangible assets was Ps. 7.77 billion in 2021, reflecting economic uncertainties and asset value reductions[465]. Strategic Initiatives and Government Policies - The Argentine electric power sector is in a state of emergency, with a need to incorporate 10 GW of conventional and 10 GW of renewable generating capacity over the next ten years to meet increasing demand[429]. - The RenovAR Program aims for renewable energy sources to account for at least 8% of Argentina's electric power consumption by December 31, 2017, increasing to 20% by December 31, 2025[432]. - The Ministry of Energy has emphasized the need for new generating capacity to reduce reliance on imports and improve the quality of electric power supply[429]. Corporate Governance and Management - The current Board of Directors includes 10 directors and 8 alternate directors, with Osvaldo Arturo Reca serving as Chairman since April 5, 2011[153]. - The company has adopted a corporate governance code based on transparency, efficiency, ethics, and investor protection[531]. - The board's composition reflects a mix of experience in both public and private sectors, enhancing governance and strategic decision-making[516][520]. Employee and Workforce Management - As of December 31, 2021, the company had 861 employees, a decrease from 885 in 2020 and 894 in 2019, indicating a downward trend in workforce size[549]. - The company has a total of 532 employees under collective bargaining agreements (CBA) as of 2017, with 464 affiliated with unions[549]. - The company has seen fluctuations in employee numbers over the years, reflecting potential operational adjustments[549]. Debt and Financial Obligations - As of December 31, 2021, total indebtedness was Ps. 43 billion, with 100% denominated in U.S. dollars[487]. - The company has committed to maintain a leverage ratio of not more than 3.5:1.00 and an interest coverage ratio of not less than 2.00:1.00 under various loan agreements[501]. - The maximum dividend payment allowed during 2023 is US$20 million, with restrictions on dividend payments maintained until 2021[494]. Renewable Energy Projects - The company has been awarded three wind farm projects under the RenovAr Program with a total awarded electric capacity of 233.6 MW and two co-generation projects with a total awarded electric capacity of 647 MW[508]. - The Terminal 6 San Lorenzo cogeneration project commenced operations on August 15, 2021, after delays originally scheduled for September 2020[511]. - The company has entered into long-term PPA contracts for 100% of the estimated energy generation capacity of its renewable energy projects developed under Resolution No. 281-E/17[508].

Central Puerto S.A. (NYSE:CEPU) Q4 2021 Earnings Conference Call March 10, 2022 10:00 AM ET Company Participants Fernando Bonnet - CEO Milagros Grande - Financial Manager Conference Call Participants Frank McGann - Bank of America Operator Good morning and welcome to the Central Puerto's Conference Call following the results announcement for the Fourth Quarter ended on December 31, 2021 and Full Year 2021. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Ple ...

Central Puerto S.A. (NYSE:CEPU) Q3 2021 Earnings Conference Call November 10, 2021 10:00 AM ET Company Participants Fernando Bonnet – Chief Executive Officer Milagros Grande – Financial Manager Conference Call Participants Operator Good morning, and welcome to the Central Puerto Conference Call following the results announcement for the Third Quarter Ended on September 30, 2021. All participants will be in listen-only mode. [Operator Instructions] After todayÂ's presentation, there will be an opportunity to ...

Central Puerto S.A. (NYSE:CEPU) Q2 2021 Earnings Conference Call August 12, 2021 11:00 AM ET Company Participants Fernando Bonnet - Chief Executive Officer Milagros Grande - Financial Manager Conference Call Participants Operator Good morning, and welcome to the Central Puerto conference call, following the results announcement for the second quarter ended on June 30th, 2021 [Operator Instructions]. After today's presentation there will be an opportunity to ask question. Please note, this event is being rec ...

Central Puerto S.A. (NYSE:CEPU) Q1 2021 Earnings Conference Call May 13, 2021 12:00 PM ET Company Participants Fernando Bonnet - Chief Executive Officer Enrique Terraneo - Chief Financial Officer Milagros Grande - Chief Financial Manager Nicolas Macchi - Investor Relations Officer Conference Call Participants Frank McGann - Bank of America Operator Good morning, and welcome to the Central Puerto conference call following the results announcement for the quarter ended on March 31, 2021 [Operator Instructions ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 i FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________. OR ☐ SHELL COMPANY REPORT PURS ...

Central Puerto S.A (NYSE:CEPU) Q4 2020 Earnings Conference Call March 16, 2021 10:00 AM ET Company Participants Jorge Rauber - Chief Executive Officer Milagros Grande - Financial Management Fernando Bonnet - Chief Operating Officer Nicolas Macchi - Investor Relations Conference Call Participants Frank McGann - Bank of America Operator Good morning, and welcome to the Central Puerto conference call following the results announcement for the quarter ended on December 31, 2020. [Operator Instructions] Please n ...

Central Puerto S.A. (NYSE:CEPU) Q2 2020 Results Conference Call August 27, 2020 10:00 AM ET Company Participants Jorge Rauber - Chief Executive Officer Fernando Bonnet - Chief Operating Officer Milagros Grande - Financial Manager Tomas Daghlian - Investor Relations Officer Conference Call Participants Frank McGann - Bank of America Ezequiel Fernandez - Balanz Capital Operator Good morning and welcome to the Central Puerto Conference Call following the results announcement for the Quarter-ended on June 30, 2 ...