EARNING RELEASE

Fourth Quarter 2023

March, 2024

Buenos Aires, Argentina, March 8, 2024 - Empresa Distribuidora y Comercializadora Norte S.A. (NYSE / BYMA: EDN) ("edenor" or "the Company") Argentina's largest electricity distributor both in terms of number of customers and energy sales, announces its results for the fourth quarter of 2023.

All figures are stated in Argentine Pesos on a constant currency basis, and the information has been prepared in accordance with International Financial Reporting Standards ("IFRS"), except for what is expressly indicated in the Income Statement, which is expressed at historical values.

Ticket: EDN

Ratio: 20 Shares Class B= 1ADR

Number of Shares Net of Treasury

875.3 Million of Shares | 43.8 Million of ADRs

Total Shares

906.5 Million of Shares | 45.3 Million of ADRs

Market Capitalization

ARS 706,383,788,760 | USD 694,129,299.24

Price

ARS 807 | USD 15,86 03/07/24

EARNINGS RELEASE

FOURTH QUARTER 2023

Webcast

Information

On Monday, March 11th, 2024, at 12 pm Buenos Aires / 10 am New York time, the Company will host a webcast to discuss Edenor's 4Q23 results. The presentation will be given by Germán Ranftl, Edenor's Chief Financial Officer. Those interested in participating in the webcast are required to register by clicking here. Questions will be answered exclusively through the webcast system.

DATE: March 11,2024

TIME: 12 pm BA / 10 am Nueva York

4Q 2023

TO JOIN THE WEBCAST PLEASE

EARNINGS WEBCAST

Click aqui

Germán Ranftl

Solange Barthe

Lucila Ramallo

www.edenor.com

Chief Financial Officer

Investor Relations Manager

Investor Relations Senior Analyst

investor@edenor.com

Tel: +54 (11) 43365511

2

AGENDA

  • Regulatory Framework
  • Financial Results
  • Operating Indicators
  • Financial Debt
  • Sustainability, technology and innovation
  • Highlights

EARNINGS RELEASE

3

FOURTH QUARTER 2023

SUMMARY OF RESULTS

FOURTH QUARTER 2023

01

REGULATORY FRAMEWORK

REGULATORY

FRAMEWORK

VAD + 319,2%

Automatic monthly rate adjustment

EARNINGS RELEASE

FOURTH QUARTER 2023

  • New tariffs became effective as of 02-16-24, including an automatic monthly tariff adjustment:
    • On 01-26-24 a Public Hearing was held to analyze electricity distribution tariffs.
    • Resolution No. 102/2024 established the new tariffs including a VAD increase of 319.2%, applicable from 02-16-24. Likewise, an automatic monthly update mechanism (polynomial formula) applicable from May 2024 was included.
    • The changes restored the economic financial equilibrium as expressed in the external auditor's report.
    • The Five-Year Tariff Review process (2024-2028) continues with a deadline to be completed before the end of 2024.
  • A Public Hearing was held on February 29, 2024, which was to define modifications to the

low-income subsidy regime, which has no effect on Edenor's VAD (pass-through).

5

SUMMARY OF RESULTS

FOURTH QUARTER 2023

02

FINANCIAL RESULTS

Since February 16, 2024, an increase of the VAD of 319.2% and an automatic monthly update mechanism were granted.

EDENOR investment spending rose a strong 17% yoy in 2023.

EARNINGS RELEASE

FOURTH QUARTER 2023

Revenues:They reached ARS 120,423 million in 4Q23 (-17% in constant currency vs 4Q22), accumulating an increase of 9% during 2023. This was mainly due to the tariff delay vs. inflation.Our clients amounted to 3.3 million in 2023 (+1% vs 2022).

Energy Purchases: The cost of energy purchases declined 32% in real terms vs. 4Q22 to ARS 75,848 million (-32% vs 4Q22), in part due to lower demand, impacted by warmer temperatures compared to the same period of the previous year. For the full year, costs increased 3%, driven by higher demand.

Distribution Margin: In the fourth quarter, the Distribution Margin rose 34% compared to the same period of the previous year to ARS 44,575 million, mainly due to delays in tariff adjustments in a high inflation context partially offset by lower volumes of energy sold. For the full year, the Distribution Margin increased 24% vs 2022.

Financial Results: A loss of ARS 88,149 million in 4Q23 financial results was in line with the levels of 4Q22 in real terms.

Net Results: Despite a loss of ARS 32,743 million in 4Q23, cumulative profit for the full year was ARS 48,371 million.

Investments: In 4Q23, ARS 32,426 million was invested, reaching a total of ARS 123,628 million in 2023 (+17% vs 2022).These figures underline our unwavering commitment to improving service quality, which is evident in the strong improvements that have been achieved in our SAIDI (Service Interruption Duration) and SAIFI (Service Interruption Frequency) indicators.

7

VOLUME OF ENERGY SALES

2023

2022

Variation

GWh

Part. %

Customers

GWh

Part. %

Customers % GWh % Customers

Residential *

10,833

46.0%

2,919,787

10,361

45.4%

2,886,189

4.6%

1.2%

Small commercial

2,153

9.1%

339,149

2,056

9.0%

339,470

5%

(0.1%)

Medium commercial

1,552

6.6%

31,310

1,529

6.7%

30,825

1.5%

1.6%

Industrial

3,680

15.6%

7,252

3,714

16.3%

7,050

(0.9%)

2.9%

Wheeling System

3,933

16.7%

724

3,776

16.5%

686

4.1%

5.5%

Others

Public lighting

599

2.5%

21

634

2.8%

21

(5.6%)

0.0%

Shantytowns and others

788

3.3%

631

755

3.3%

588

4.5%

7.3%

Total

23,538

100%

3,298,874

22,826

100%

3,264,829

3.1%

1.0%

4Q23

4Q22

Variation

GWh

Part. %

Customers

GWh

Part. %

Customers % GWh % Customers

Residential *

2,240

42.6%

2,919,787

2,393

43.8%

2,886,189

(6.4%)

1.2%

Small commercial

497

9.4%

339,149

497

9.1%

339,470

0.1%

(0.1%)

Medium commercial

371

7.1%

31,310

383

7.0%

30,825

(3.1%)

1.6%

Industrial

890

16.9%

7,252

924

16.9%

7,050

(3.7%)

2.9%

Wheeling System

971

18.5%

724

958

17.6%

686

1.3%

5.5%

Others

Public lighting

132

2.5%

21

138

2.5%

21

(4.6%)

0.0%

Shantytowns and others

160

3.1%

631

165

3.0%

588

(2.6%)

7.3%

Total

5,261

100%

3,298,874

5,457

100%

3,264,829

(3.6%)

1.0%

*4Q23: 703.823 customers benefit from Social Tariff

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FOURTH QUARTER 2023

Energy sales volumes increased by

3,1% in 2023.

In 4Q23, energy sales volumes totaled 5,261 Gwh (-3.6% vs 4Q22), which was mainly led by a decrease in consumption of 6.4% in Residential Customers, although for the full year volumes increased 4.6%, due to higher temperatures in the first quarter.

Edenor's customer base reached 3.3 million customers (+1% vs 4Q22), due mainly to an increase in residential and industrial customers as a result of market discipline measures and the installation of 1,130 energy meters integrated into the fourth quarter, which were mostly intended to regularize clandestine connections.

8

OPERATING EXPENSES

Operating expenses rose 36% in 4Q23, mainly due to inflation.

A notable increase in operating expenses is attributable

mainly to higher, fees and remuneration for services and

greater depreciation expenses as a result of inflation.

At the end of December 2023, collectability was 95.82%,

with the year-end accrued bad debts of ARS 11,355 million.

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9

FOURTH QUARTER 2023

EBITDA

❖ During 2023, EBITDA was a positive ARS 163.527 million, a sharp rise from the prior year. The main factors

were the following:

o Positive impacts ofARS 197,731 million as a result of the implemented payment plan with

CAMMESA per energy purchase costs.

o April and June tariff adjustments; and

o Further reduction in energy losses (14,9% in 4Q23 VS 15,6% in 4Q22).

❖ EBITDA for 4Q23 was a negative ARS 29,200 million compared to last year's fourth quarter positive result of

ARS 43,832 million for the same reasons mentioned above (lower demand, tariff delays, higher operating

expenses).

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10

FOURTH QUARTER 2023

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Disclaimer

EDENOR - Empresa Distribuidora y Comercializadora Norte SA published this content on 08 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 March 2024 00:15:05 UTC.