Empresa Distribuidora y Comercializadora Norte SA Q1 FY2021 earnings call

• Acknowledged staff efforts in providing service while managing COVID-19 circumstances. • Regulatory events: New tariff schemes effective April 1 based on wholesale electric markets winter seasonal programming; partial tariff update of 9% applicable from May 1 involving 20.9% VAD increase for Edenor, estimating higher revenues of ARS 5 billion for May-December period. • Secretary of Energy moved forward with regulation of Section 87 of the 2021 budget, applying the Special Liabilities Regularization Regime.

No specific product segment financial performance or revenue contribution details provided in the transcript.

• Discussed ongoing negotiations with government regarding tariffs and payables, including need for further VAD increases, potential agreements related to shantytowns consumption and CAMMESA payables, but no specific forward-looking guidance with revisions.

• Uncertainties in government agreements regarding tariffs and payables to CAMMESA. • Uncertain timing of regulatory approval for the change in control of the company, with regulator having 90 days to approve after last information provided and no set timeline.

Q: What was the percentage increase for the overall average seasonal price for GUDIs and regarding the regularization of payables with CAMMESA, where do you think payables could go till year end?

A: For seasonal price, Edenor's seasonal price had an average impact of almost 11% on overall energy purchase to CAMMESA, with 5% increase for certain components and almost 100% increase for GUDIs. Regarding CAMMESA payables, it's not simple; during Q1, 83% of bill was paid, and future depends on government measures and ongoing negotiations.

Q: Could you provide an update on the change in control of the company and realistic time line for regulator approval?

A: Sale of controlling stake is under regulator approval; regulator has 90 days since last info provided and can ask for info, but no timeline known for approval, could be weeks or months.