<SEC-DOCUMENT>0001654954-21-003460.txt : 20210330
<SEC-HEADER>0001654954-21-003460.hdr.sgml : 20210330
<ACCEPTANCE-DATETIME>20210330082314
ACCESSION NUMBER:		0001654954-21-003460
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20210329
FILED AS OF DATE:		20210330
DATE AS OF CHANGE:		20210330

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL PUERTO S.A.
		CENTRAL INDEX KEY:			0001717161
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			C1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38376
		FILM NUMBER:		21783740

	BUSINESS ADDRESS:	
		STREET 1:		AV. T&#1086;MAS ALVA EDISON 2701
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1104BAB
		BUSINESS PHONE:		541143175000

	MAIL ADDRESS:	
		STREET 1:		AV. T&#1086;MAS ALVA EDISON 2701
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1104BAB
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>cepu_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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UNITED STATES</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 16px">
SECURITIES AND EXCHANGE COMMISSION</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 16px">
Washington, D.C. 20549</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 24px">
FORM 6-K</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Report of Foreign Private Issuer</font></div>
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Pursuant to Rule 13a-16 or 15d-16</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
under the Securities Exchange Act of 1934</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
For the month of March 2021</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Commission File Number: 001-38376</font></div>
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<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 32px">
Central Puerto S.A.</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
(Exact name of registrant as specified in its charter)</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 221px; text-indent: 0px">&#xA0;
<font style="font-family: Times New Roman; font-size: 13px"><br>
</font></div>
<div style="text-align: center"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Port Central S.A.</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
(Translation of registrant&#x2019;s name into English)</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Avenida Thomas Edison 2701</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
C1104BAB Buenos Aires</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Republic of Argentina</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
+54 (11) 4317-5000</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
(Address of principal executive offices)</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Form
20-F &#x2612; Form 40-F &#x2610;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1):</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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&#x2610; No &#x2612;</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7):</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Yes
&#x2610; No &#x2612;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;<font style="font-weight: bold; font-size: 16px">CENTRAL
PUERTO S.A.</font></font></div>
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<font style="font-family: Times New Roman; font-size: 16px;">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 16px;">&#xA0;</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 16px">
Documents Translation</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">TABLE
OF CONTENTS</font></div>
<div style="text-align: center">
<table cellpadding="0" cellspacing="0" style="text-align: center; width: 95%; font-family: Times New Roman; font-size: 13px; margin: 0px auto;">
<tr>
<td colspan="2" style="vertical-align: middle; width: 11%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 10%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: middle; width: 0%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td colspan="2" style="vertical-align: bottom; width: 11%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
&#xA0;&#xA0;&#xA0;&#xA0; Exhibit<br></font></div>
</td>
<td style="vertical-align: bottom; width: 10%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: bottom; width: 0%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="vertical-align: bottom;">99.1<br></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="vertical-align: bottom;">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 10%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">English
translation of a notice submitted to the Argentine securities
regulator (the Comisi&#xF3;n Nacional de Valores, or the CNV) on
March 15, 2021.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="vertical-align: bottom;">99.2<br></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="vertical-align: bottom;">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 10%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">English
translation of an excerpt of the minutes of the meeting of the
Board of Directors of Central Puerto S.A. that called an Annual and
Special General Meeting, dated March 15, 2021, submitted to the
Argentine securities regulator (the Comisi&#xF3;n <font style="font-style: italic">Nacional de Valores</font>,<font style="font-style: italic">&#xA0;</font>or the CNV) on March 15,
2021.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="vertical-align: bottom;">99.3<br></font></div>
</td>
<td style="vertical-align: bottom; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 10%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">English
translation of a notice sent to the Buenos Aires Stock Exchange
(<font style="font-style: italic">Bolsa y Mercados Argentinos
S.A.</font>, or the BYMA) regarding the information set forth in
Section 62 of the Buenos Aires Stock Exchange Regulations dated
March 15, 2021.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="vertical-align: bottom;">99.4</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="vertical-align: bottom;">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 10%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">English
translation of an excerpt of the minutes of the meeting of the
Board of Directors of Central Puerto S.A. that approved the
Consolidated Financial Statements for the year ended December 31,
2020 dated March 15, 2021, submitted to the Argentine securities
regulator (the <font style="font-style: italic">Comisi&#xF3;n
Nacional de Valores</font>,<font style="font-style: italic">&#xA0;</font>or the CNV) on March 15,
2021.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="vertical-align: bottom;">99.5</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="vertical-align: bottom;">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 10%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">English
translation of an excerpt of the minutes of a meeting of the
Supervisory Committee of Central Puerto S.A. dated March 15, 2021,
submitted to the Argentine securities regulator (the Comisi&#xF3;n
<font style="font-style: italic">Nacional de
Valores</font>,<font style="font-style: italic">&#xA0;</font>or the
CNV) on March 15, 2021.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="vertical-align: bottom;">99.6</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="vertical-align: bottom;">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 10%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">English
translation of Central Puerto&#x2019;s Corporate Governance Code
submitted to the Argentine securities regulator (the Comisi&#xF3;n
Nacional de Valores, or the CNV) on March 15, 2021.</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="vertical-align: bottom;">99.7</font></div>
<div style="text-align: center; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="vertical-align: bottom;">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%;"><br></td>
<td colspan="3" style="vertical-align: top; width: 10%;">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">

<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">English
translation of General Resolution No. 797 of the Argentine
Securities Commission submitted to the Argentine securities
regulator (the Comisi&#xF3;n Nacional de Valores, or the CNV) on
March 15, 2021.</font></div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 10%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 11%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 0%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
SIGNATURES</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: middle; width: 45%">
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</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 0%">
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</td>
<td style="vertical-align: middle; width: 45%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td colspan="3" style="vertical-align: bottom; width: 50%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 0%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: bottom; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Central Puerto S.A.</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 45%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: middle; width: 5%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: middle; width: 4%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: middle; width: 46%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 45%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Date:
March 29, 2021</font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 4%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 0%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">By:</font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 45%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">/s/
<font style="font-variant: small-caps">Leonardo
Marinaro</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%; border-bottom: solid 0px #000000">
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</td>
</tr><tr>
<td style="vertical-align: top; width: 45%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 4%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 0%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:</font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 45%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Leonardo
Marinaro</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 45%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 4%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 0%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:</font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 45%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Attorney-in-Fact</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>cepu_item1.htm
<DESCRIPTION>ENGLISH TRANSLATION OF A NOTICE SUBMITTED TO THE ARGENTINE SECURITIES REGULATOR
<TEXT>
<html>
<head>
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<title>cepu_item1</title>
</head>
<body style="font-family: Times New Roman; font-size: 13px;">
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: right; margin-left: 0px; margin-right: -14px; text-indent: 288px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>

<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-weight: bold">&#xA0; <font style="font-family: Times New Roman; font-size: 13px;">Exhibit
1</font><br></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><img src="cepu_item6000.jpg"></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: right; margin-left: 0px; margin-right: -14px; text-indent: 288px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: right; margin-left: 0px; margin-right: -14px; text-indent: 288px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">BUENOS
AIRES, March 15, 2021</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 60px; margin-right: 0px; text-indent: -60px">
<font style="font-family: Times New Roman; font-size: 13px">COMISI&#xD3;N
NACIONAL DE VALORES (&#x201C;CNV&#x201D;)</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Subgerencia de Sociedades Emisoras</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
25 de Mayo 175</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
City of Buenos Aires</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
To: Gerencia de Emisoras</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 60px; margin-right: 0px; text-indent: -60px">
<font style="font-family: Times New Roman; font-size: 13px">BOLSAS
Y MERCADOS ARGENTINOS S.A. (&#x201C;BYMA&#x201D;)</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Sarmiento 299</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
City of Buenos Aires</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 60px; margin-right: 0px; text-indent: -60px">
<font style="font-family: Times New Roman; font-size: 13px">MERCADO
ABIERTO ELECTR&#xD3;NICO (&#x201C;MAE&#x201D;)</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
San Martin 344</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
City of Buenos Aires</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: right; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Notice:
CPSA-GG-N-0087/21-AL</font></div>
<div style="text-align: right; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">&#xA0;Subject:
Material News</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Dear
Sir/Madam,</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 144px">
<font style="font-family: Times New Roman; font-size: 13px">It is a
pleasure to contact you in my capacity as Head of Market Relations
of Central Puerto S.A. (the &#x201C;Company&#x201D;) so as to inform
you that the Board of Directors of the Company has decided to call
an Ordinary and Special General Shareholders&#x2019; Meeting on
April 30, 2021, at 11 a.m. on first call, and at 12 p.m. on the
same day on second call, provided that the first call fails to take
place. The second call shall only consider items falling under the
competence of the Ordinary Meeting, which shall be held
remotely.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 144px">
<font style="font-family: Times New Roman; font-size: 13px">Yours
sincerely,</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Leonardo Marinaro</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Head of Market Relations</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
CENTRAL PUERTO S.A.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Av.
Tom&#xE1;s A. Edison 2701 &#x2013; C1104BAB &#x2013; City of Buenos
Aires &#x2013; Argentina</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Telephone
(54 11) 4317 5000 &#x2013; Fax (54 11) 4317 5099</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>cepu_item2.htm
<DESCRIPTION>ENGLISH TRANSLATION OF AN EXCERPT OF THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS OF CENTRAL PUERTO S.A.
<TEXT>
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<title>cepu_item2</title>
</head>
<body style="font-family: Times New Roman; font-size: 13px;">
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
</div>
</div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman;">
</font></font></div>
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px">&#xA0; <font style="font-family: Times New Roman;"><font style="font-weight: bold">Exhibit 2</font><br></font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman;">
Relevant part of the Board of Directors Meeting Minutes of Central
Puerto S.A. on March 15, 2021</font></font></div>
<div><font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="font-weight: bold; text-decoration: underline">Minutes No.
357</font><font style="font-weight: bold">:</font> In the city of
Buenos Aires, on March 15, 2021 at 11 AM, the Board of Directors of
CENTRAL PUERTO S.A. (the &#x201C;<font style="text-decoration: underline">Company</font>&#x201D; or
&#x201C;<font style="text-decoration: underline">CPSA&#x201D;</font>)
meet with the presence of the Directors Osvaldo RECA, Marcelo
Atilio SUVA, Miguel DODERO, Jos&#xE9; Luis MOREA, Juan Jos&#xE9;
SALAS, Diego PETRACCHI, Tom&#xE1;s PERES, Tom&#xE1;s WHITE,
Cristian LOPEZ SAUBIDET, Jorge Eduardo VILLEGAS and Guillermo PONS.
Carlos C&#xE9;sar HALLADJIAN, Eduardo EROSA and Juan NICHOLSON,
members of the Statutory Audit Committee attend the meeting. Mr.
Marinaro informs that the meeting is held remotely as per the terms
of: <font style="font-weight: bold">(1)</font> Decree of Necessity
and Urgency No. 297/2020 (&#x201C;<font style="text-decoration: underline">Decree 297</font>&#x201D;) and further
amendments and regulation adopted within the context the COVID-19
pandemic declared by the World Health Organization (WHO), the
Health Emergency established by Decree No. 260/20 and its
amendments, and in line with COVID 19- pandemic situation,
<font style="font-weight: bold">(2)</font> the obligations derived
from the latest Decree of Necessity and Urgency No. 168/21
(&#x201C;<font style="text-decoration: underline">Decree
168</font>&#x201D;) and the recommendations made by the Argentine
Superintendency of Labor Risks (&#x201C;<font style="text-decoration: underline">SRT</font>&#x201D; for its acronym in
Spanish) concerning social distancing in enclosed spaces, and
<font style="font-weight: bold">(3)</font> Section 23 of
CPSA&#x2019;s Bylaws, which establishes that the Board of Directors
can hold remote meetings. Quorum being present to validly hold the
meeting, it commences at 11 a.m. Afterwards, the (&#x2026;) ninth
item of the agenda is submitted for consideration<a name="_Hlk508033822">
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<div id="pn" style="text-align: center"><font style="font-size: 13px"><font style="font-family: Times New Roman;">1</font></font></div>
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<div><font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="font-weight: bold">9)</font> <font style="font-weight: bold; text-decoration: underline; color: #000000">CALL
OF GENERAL AND SPECIAL SHAREHOLDERS&#x2019;
MEETING</font><font style="font-weight: bold; text-decoration: underline">.</font>
<font style="color: #000000">Mr. President takes the floor and
informs the rest of the Shareholders that it is proper to call a
General Shareholders&#x2019; Meeting of</font> Central Puerto S.A.
on April 30, 2021, at 11.00 AM on first call and at 12.00 PM on the
same day on second call, should the first call fail. The latter
shall only be hold to consider the items that fall under the scope
of the General Shareholders&#x2019; Meeting, which will be held
remotely to consider, in addition to the topics stated for general
meetings, in accordance with the provisions of Section 234 of the
Business Entity Act, the amendment of Section 13 of the Bylaws so
as to hold remotelyShareholders&#x2019; Meetings. For that purpose,
the following Agendais open for discussion: <font style="font-weight: bold">1)</font> Consideration of holding the remote
Shareholders&#x2019; Meeting as per the terms of RG CNV No.
830/2020. <font style="font-weight: bold">2)</font> Appointment of
two shareholders to sign the minutes. <font style="font-weight: bold">3)</font> Consideration of the Annual Report
and its Exhibit, the Consolidated Statement of Income, the
Consolidated Statement of Comprehensive Income, the Consolidated
Statement of Financial Position, the Consolidated Statement of
Changes in Equity, the Consolidated Statement of Cash Flow, the
Notes to the Consolidated Financial Statements and Exhibits, the
Separate Statement of Income, the Separate Statement of
Comprehensive Income, the Separate Statement of Financial Position,
the Separate Statement of Cash Flow, Notes to the Separate
Financial Statements, Briefs, Auditor Report, Statutory Auditing
Committee Report, all of them for the period ended December 31,
2020. <font style="font-weight: bold">4)</font> Consideration of
the income (loss) of the period and the Board of Directors&#x2019;
proposal that consists on assigning: a) the amount of ARS $344.596
to the statutory reserve; and b) the amount of ARS $6.547.325, from
remaining balance of the income for the period to the increase of
the Optional Reserve under Article 70 of the Business Entity Act,
which can be destined to the following: (i) the investment projects
that are already committed and/or (ii) future investments to be
made by the Company and/or Subsidiaries related to the new asset
acquisition projects of approved by the Board of Directors and/or
(iii) to the payment of dividends according to the evolution of the
financial condition of the Company and pursuant to the
Company&#x2019;s Dividends Distribution Policy in force.
Consideration and approval of payment of the Profit-Sharing Bond
stated by Sections 12 and 33 of the Bylaws.</font></font></div>
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<div><font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></font></div>
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<div><font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="font-weight: bold">5)</font> Consideration of the Board of
Directors&#x2019; performance during the period ended December 31,
2020. <font style="font-weight: bold">6)</font> Consideration of
the Statutory Audit Committee performance during the period ended
December 31, 2020. <font style="font-weight: bold">7)</font>
Consideration of the remuneration of the Board of Directors for the
period ended December 31, 2020 within the limits of profits in
accordance with Section 261 of Law No. 19.550 and CNV Regulations.
Consideration of the advanced payment of fees to the Board of
Directors for the period closing next December 31, 2021.
<font style="font-weight: bold">8)</font> Consideration of the
remuneration of the members of the Statutory Audit Committee for
the period ended December 31, 2020; and the fee scheme for the
period closing next December 31, 2021. <font style="font-weight: bold">9)</font> Fixing of the number of Deputy
Directors and appointment of Directors and Deputy Directors.
Continuity of the current Chairman until the appointment by the
Board of Directors of the Company. <font style="font-weight: bold">10)</font> Appointment of the members of the
Statutory Audit Committee and deputy members for the period closing
next December 31, 2021. <font style="font-weight: bold">11)</font>
Consideration of the remuneration of the external accountant of the
Company regarding the annual accounting documents for the period
2020. <font style="font-weight: bold">12)</font> Appointment of the
external accountant and deputy external accountant for the period
closing next December 31, 2021 and the fixing of its remuneration.
<font style="font-weight: bold">13)</font> Approval of annual
budget for the functioning of the Statutory Audit Committee.
<font style="font-weight: bold">14)</font> Consideration of the
amendment of Section 14 of the Bylaws referring to
Shareholders&#x2019; Meeting so as to include the possibility of
them being held remotely. <font style="font-weight: bold">15)</font> Granting of authorizations. It is
informed that, pursuant to the provisions on mandatory and
preventive social distancing of the Decree of Necessity and Urgency
(DNU) No. 168 (B.O. 12-3-2021), the Meeting shall be held via the
system provided by ZOOM, as perm the terms of RG CNV No. 830/2020.
It is clarified that items 1 and 14 of the Agenda shall be
considered by the Special Shareholders&#x2019; Meeting. This motion
is unanimously approved by the Board of Directors. (&#x2026;) There
being no further business to come before the meeting, the meeting
is adjourned at 12:20 p.m.</font></font></div>
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<div><font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">Leonardo
Marinaro</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">Head of Market
Relations of</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">CENTRAL PUERTO
S.A.</font></font></div>
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<div id="pn" style="text-align: center"><font style="font-size: 13px">3</font></div>
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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>cepu_item3.htm
<DESCRIPTION>ENGLISH TRANSLATION OF A NOTICE SENT TO THE BUENOS AIRES STOCK EXCHANGE
<TEXT>
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<font style="font-weight: bold">&#xA0; <font style="font-family: Times New Roman; font-size: 13px">Exhibit
3</font><br></font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">BUENOS
AIRES, March 15, 2021</font></div>
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: right; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Notice:
CPSA-GG-N-0085/21-AL</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 60px; margin-right: 0px; text-indent: -60px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Comisi&#xF3;n
Nacional de Valores</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: right; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Subject:
Information set forth by Section 62 of Listing
Regulations</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Dear
Sir/Madam,</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 168px">
<font style="font-family: Times New Roman; font-size: 13px">Pursuant to the
Section mentioned above, we inform that on March&#xA0;15, the Board
of Directors of Central Puerto S.A. approved the financial
statements and other documents for the period ended December 31,
2020. Moreover, it acknowledged the corresponding reports by the
Auditor and the Statutory Audit Committee.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 168px">
<font style="font-family: Times New Roman; font-size: 13px">Regard
being had to the foregoing, we inform the following:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">1.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Income
(loss) for the period ended December 31, 2020:</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="margin-right:0px;width:100%;font-size:inherit;font-family:inherit;margin-left:0px;">
<tr>
<td rowspan="1" style="vertical-align:bottom;width:88%;">
<div style="margin-left:0px;padding-bottom:2px;"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom:2px;width:10%;vertical-align:bottom;display:inline-block;">&#xA0;</font><font style="text-align: center; vertical-align:bottom;width:70%;border-bottom:solid 2px #000000;display:inline-block;">
<div><font style="font-weight:bold;font-size:13px;font-family:Times New Roman;color:#000000;">
ARS 000</font></div>
</font><font style="text-align: left; padding-bottom:2px;width:20%;vertical-align:bottom;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Income
(loss) for the period</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;display:inline-block;">&#xA0;</font><font style="text-align: center; vertical-align:bottom;width:70%;display:inline-block;">
<div><font style="font-size:13px;font-family:Times New Roman;">&#xA0;</font></div>
</font><font style="text-align: left; vertical-align:bottom;width:20%;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">attributable
to shareholders of the Company</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">6,891,921</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">attributable
to non-controlling shareholding</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;border-bottom:solid 2px #000000;vertical-align:bottom;display:inline-block;width:5%;font-family:Times New Roman;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;border-bottom:solid 2px #000000;vertical-align:bottom;display:inline-block;width:65%;font-family:Times New Roman;font-size:13px;">66,017</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:4px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Total
income (loss) for the period- Profit</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;border-bottom:double 4px #000000;vertical-align:bottom;display:inline-block;width:5%;font-family:Times New Roman;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;border-bottom:double 4px #000000;vertical-align:bottom;display:inline-block;width:65%;font-family:Times New Roman;font-size:13px;">6,957,938</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;padding-bottom:4px;font-size:13px;">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Avda.
Tom&#xE1;s A. Edison 2701 &#x2013; C1104BAB &#x2013; City of Buenos
Aires &#x2013; Argentina</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Telephone
(54 11) 4317 5000 &#x2013; Fax (54 11) 4317 5099</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">1</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">2.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Other
comprehensive income for the period ended December 31,
2020:</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="margin-right:0px;width:100%;font-size:inherit;font-family:inherit;margin-left:0px;">
<tr>
<td rowspan="1" style="vertical-align:bottom;width:88%;">
<div style="margin-left:0px;padding-bottom:2px;"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom:2px;width:10%;vertical-align:bottom;display:inline-block;">&#xA0;</font><font style="text-align: center; vertical-align:bottom;width:70%;border-bottom:solid 2px #000000;display:inline-block;">
<div><font style="font-weight:bold;font-size:13px;font-family:Times New Roman;color:#000000;">
&#xA0;ARS 000</font></div>
</font><font style="text-align: left; padding-bottom:2px;width:20%;vertical-align:bottom;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Other
comprehensive income for the period</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;display:inline-block;">&#xA0;</font><font style="text-align: center; vertical-align:bottom;width:70%;display:inline-block;">
<div><font style="font-size:13px;font-family:Times New Roman;">&#xA0;</font></div>
</font><font style="text-align: left; vertical-align:bottom;width:20%;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">attributable
to shareholders of the Company</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">5,504</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">attributable
to non-controlling shareholding</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;border-bottom:solid 2px #000000;vertical-align:bottom;display:inline-block;width:5%;font-family:Times New Roman;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;border-bottom:solid 2px #000000;vertical-align:bottom;display:inline-block;width:65%;font-family:Times New Roman;font-size:13px;">-</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:4px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">Total of other comprehensive income for the
period-</font> Profit</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;border-bottom:double 4px #000000;vertical-align:bottom;display:inline-block;width:5%;font-family:Times New Roman;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;border-bottom:double 4px #000000;vertical-align:bottom;display:inline-block;width:65%;font-family:Times New Roman;font-size:13px;">5,504</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;padding-bottom:4px;font-size:13px;">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">3.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Total
comprehensive income (loss) for the period ended December 31,
2020:</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="margin-right:0px;width:100%;font-size:inherit;font-family:inherit;margin-left:0px;">
<tr>
<td rowspan="1" style="vertical-align:bottom;width:88%;">
<div style="margin-left:0px;padding-bottom:2px;"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom:2px;width:10%;vertical-align:bottom;display:inline-block;">&#xA0;</font><font style="text-align: center; vertical-align:bottom;width:70%;border-bottom:solid 2px #000000;display:inline-block;">
<div><font style="font-weight:bold;font-size:13px;font-family:Times New Roman;color:#000000;">
&#xA0;ARS 000</font></div>
</font><font style="text-align: left; padding-bottom:2px;width:20%;vertical-align:bottom;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Net
comprehensive income (loss) for the period</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;display:inline-block;">&#xA0;</font><font style="text-align: center; vertical-align:bottom;width:70%;display:inline-block;">
<div><font style="font-size:13px;font-family:Times New Roman;">&#xA0;</font></div>
</font><font style="text-align: left; vertical-align:bottom;width:20%;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">attributable
to shareholders of the Company</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">6,897,425</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">attributable
to non-controlling shareholding</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;border-bottom:solid 2px #000000;vertical-align:bottom;display:inline-block;width:5%;font-family:Times New Roman;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;border-bottom:solid 2px #000000;vertical-align:bottom;display:inline-block;width:65%;font-family:Times New Roman;font-size:13px;">66,017</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:4px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">Total net comprehensive income (loss) for the
period-</font> Profit</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;border-bottom:double 4px #000000;vertical-align:bottom;display:inline-block;width:5%;font-family:Times New Roman;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;border-bottom:double 4px #000000;vertical-align:bottom;display:inline-block;width:65%;font-family:Times New Roman;font-size:13px;">6,963,442</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;padding-bottom:4px;font-size:13px;">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">4.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Statement
of changes in equity details divided in items and amounts as of
December 31, 2020:</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="margin-right:0px;width:100%;font-size:inherit;font-family:inherit;margin-left:0px;">
<tr>
<td rowspan="1" style="vertical-align:bottom;width:88%;">
<div style="margin-left:0px;padding-bottom:2px;"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; padding-bottom:2px;width:10%;vertical-align:bottom;display:inline-block;">&#xA0;</font><font style="text-align: center; vertical-align:bottom;width:70%;border-bottom:solid 2px #000000;display:inline-block;">
<div><font style="font-weight:bold;font-size:13px;font-family:Times New Roman;color:#000000;">
&#xA0;ARS 000</font></div>
</font><font style="text-align: left; padding-bottom:2px;width:20%;vertical-align:bottom;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Share
Capital &#x2013; Nominal Value</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">1,514,022</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Capital
adjustment</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">25,619,864</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Statutory
Reserve</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">3,838,044</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">Optional
Reserve</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">48,479,823</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">Other equity
accounts</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">(1,966,148</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">)</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: right; vertical-align:bottom;width:65%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:20%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Income
(loss) for the period</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">6,891,921</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Other
accumulated comprehensive income</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">5,504</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Non-controlling
shareholding</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:2px;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;border-bottom:solid 2px #000000;vertical-align:bottom;display:inline-block;width:5%;font-family:Times New Roman;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;border-bottom:solid 2px #000000;vertical-align:bottom;display:inline-block;width:65%;font-family:Times New Roman;font-size:13px;">128,319</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;padding-bottom:2px;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;padding-bottom:4px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Total</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;padding-bottom:4px;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;border-bottom:double 4px #000000;vertical-align:bottom;display:inline-block;width:5%;font-family:Times New Roman;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;border-bottom:double 4px #000000;vertical-align:bottom;display:inline-block;width:65%;font-family:Times New Roman;font-size:13px;">84,511,349</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;padding-bottom:4px;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: right; vertical-align:bottom;width:65%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:20%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">attributable
to shareholders of the Company</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">84,383,030</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#c9dcf3;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">attributable
to non-controlling shareholding</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:65%;font-size:13px;">128,319</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:20%;font-size:13px;">&#xA0;</font></div>
</td>
</tr></table>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">5.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Proposal
of the Board of Directors</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Net
Income for the 2020 Period amounted to ARS 6,891,921. The Board of
Directors proposes the following: to allocate ARS 344,596 to the
Statutory Reserve. Moreover, it is proposed to allocate the
remaining balance of the Income for the period to increase the
Optional Reserve in the amount of ARS 6,547,325, which can be
destined to: (a) the investment projects that are already committed
and/or (b) future investments to be made by the Company and/or its
Subsidiaries related to new projects, such as assets acquisitions,
approved by the Board of Directors and/or (c) to the payment of
dividends according to the evolution of the financial condition of
the Company and pursuant to the Company&#x2019;s Dividends
Distribution Policy in force.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">6.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Controlling
shareholding</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">As a
consequence of the merger between Central Puerto S.A., in its
capacity as parent company, and Operating S.A. (hereinafter,
&#x201C;OPER&#x201D;), Hidroneuqu&#xE9;n S.A. (hereinafter,
&#x201C;HNQ&#x201D;) and Sociedad Argentina de Energ&#xED;a S.A.
(hereinafter, &#x201C;SADESA&#x201D;), all in their capacity as
acquired companies and, as a consequence of the corresponding
acquired companies&#x2019; shares swap, none of the shareholders of
Central Puerto S.A. holds a controlling interest.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Finally,
it is important to highlight the fact that share capital is under
public offering and it is listed in the Buenos Aires Stock Exchange
(hereinafter, &#x201C;BCBA&#x201D;) and, as from February 2, 2018, in
the New York Stock Exchange (hereinafter, &#x201C;NYSE&#x201D;).
Therefore, shareholding may experience variations, which the
company may not be aware of.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 168px">
<font style="font-family: Times New Roman; font-size: 13px">Yours
sincerely,</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Leonardo Marinaro</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Head of Market Relations</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
CENTRAL PUERTO S.A.</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>cepu_item4.htm
<DESCRIPTION>ENGLISH TRANSLATION OF AN EXCERPT OF THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS OF CENTRAL PUERTO S.A.
<TEXT>
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<font style="font-size: 13px">&#xA0; <font style="font-family: Times New Roman;"><font style="font-weight: bold">Exhibit 4</font><br></font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
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<font style="font-size: 13px"><font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman;">
Relevant part of the Minutes of Central Puerto S.A Board of
Directors&#x2019; Meeting held on March 15, 2021</font></font></div>
<div><font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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<font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="font-weight: bold; text-decoration: underline">Minutes No.
357</font><font style="font-weight: bold">:</font> In the City of
Buenos Aires, on this March 15, 2021, at 11:00 AM, the Board of
Directors of CENTRAL PUERTO S.A. (the &#x201C;<font style="text-decoration: underline">Company</font>&#x201D; or
&#x201C;<font style="text-decoration: underline">CPSA</font>&#x201D;,
indistinctly), meet with the presence of Directors Osvaldo RECA,
Marcelo Atilio SUVA, Miguel DODERO, Jos&#xE9; Luis MOREA, Juan
Jos&#xE9; SALAS, Diego PETRACCHI, Tom&#xE1;s PERES, Tom&#xE1;s
WHITE, Cristian LOPEZ SAUBIDET, Jorge Eduardo VILLEGAS and
Guillermo PONS. Mr. Carlos C&#xE9;sar HALLADJIAN, Mr. Eduardo EROSA
and Mr. Juan NICHOLSON, members of the Statutory Audit Committee
attend the meeting. Mr. Marinaro informs that the Meeting is held
via videoconference taking into consideration the provisions of:
<font style="font-weight: bold">(1)</font> the Decree of Necessity
and Urgency No. 297/2020 (&#x201C;<font style="text-decoration: underline">Decree 297</font>&#x201D;) and further
supplementary amendments and regulations adopted within the context
of the pandemic declared by the World Health Organization (WHO),
the Health Emergency set forth by Decree No. 260/20 and its
amendments, and in line with the CORONAVIRUS-COVID 19 pandemic
situation, <font style="font-weight: bold">(2)</font> the
obligations stemming from the last Decree of Necessity and Urgency
No. 1033/20 (&#x201C;<font style="text-decoration: underline">Decree
1033</font>&#x201D;) and the recommendations made by the Argentine
Superintendency of Labor Risks (&#x201C;<font style="text-decoration: underline">SRT</font>&#x201D; for its acronym in
Spanish) concerning capacity and social distancing in enclosed
spaces, and <font style="font-weight: bold">(3)</font> Section 23
of the Bylaws, which establishes that the Board of Directors can
hold remote meetings <font style="color: #000000">with its members
communicated by videoconference</font>. Quorum being present to
validly hold the meeting, it commences at 11:00 AM in order to
consider &#x2026; the fourth item of the Agenda:</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div id="pn" style="text-align: center"><font style="font-size: 13px"><font style="font-family: Times New Roman;">1</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div><font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="font-weight: bold">4)</font> <font style="font-weight: bold; text-decoration: underline">CONSIDERATION OF
THE ANNUAL REPORT AND ITS EXHIBIT, THE CONSOLIDATED INCOME
STATEMENT, CONSOLIDATED COMPREHENSIVE INCOME STATEMENT,
CONSOLIDATED STATEMENT OF FINANCIAL POSITION, CONSOLIDATED
STATEMENT OF CHANGES IN SHAREHOLDER&#x2019;S EQUITY, CONSOLIDATED
CASH FLOW STATEMENT, THE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AND THEIR EXHIBITS, INDIVIDUAL INCOME STATEMENT, INDIVIDUAL
COMPREHENSIVE INCOME STATEMENT, INDIVIDUAL STATEMENT OF FINANCIAL
POSITION, INDIVIDUAL CASH FLOW STATEMENT, NOTES TO INDIVIDUAL
FINANCIAL STATEMENTS AND BRIEF FOR THE PERIOD ENDED DECEMBER 31,
2020</font><font style="font-weight: bold">.</font> <font style="background-color: #FFFFFF">Mr. Osvaldo RECA takes the floor and
informs that the Board of Directors needs to consider and approve
the Annual Report and its Exhibit, the Consolidated Income
Statement, the Consolidated Comprehensive Income Statement,
Consolidated Statement of Financial Position, Consolidated
Statement of Changes in Shareholder&#x2019;s Equity, Consolidated
Cash Flow Statement, Notes to Consolidated Financial Statements and
their Exhibits, Individual Income Statement, Individual
Comprehensive Income Statement, Individual Statement of Financial
Position, Individual Cash Flow Statement, Notes to Individual
Financial Statements and Brief for the period ended December 31,
2020</font>, documentation that was provided to the Directors well
in advanced. After a short debate and after acknowledging the
Statutory Audit Committee report and the Authorizing
Accountant&#x2019; report, the Board of Directors unanimously
approve the Annual Report and its Exhibit, the Consolidated Income
Statement, Consolidated General Income Statement, Consolidated
Statement of Financial Position, Consolidated Statement in
Shareholder&#x2019;s Equity, Consolidated Cash Flow Statement, Notes
to Consolidated Financial Statements and their Exhibits, Individual
Income Statement, Individual General Income Statement, Individual
Statement of Financial Position, Individual Cash Flow Statement,
Notes to Individual Financial Statements and Brief for such period.
Mr. Cesar HALLADJIAN, Eduardo EROSA and Juan NICHOLSON. Afterwards,
the (&#x2026;) sixth item of the Agenda is open for
discussion:</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
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<div id="pn" style="text-align: center"><font style="font-size: 13px"><font style="font-family: Times New Roman;">2</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
</div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div><font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="font-weight: bold">6)</font> <font style="font-weight: bold; text-decoration: underline">CONSIDERATION OF
THE 2020 ANNUAL REPORT BY THE SUPERVISORY
COMMITTEE</font><font style="color: #000000">. Mr. Osvaldo RECA
takes the floor and puts the Company&#x2019;s Annual Report by the
Supervisory Committee to the consideration of directors. Previously
to this meeting, such report has been put at the disposal of
directors. There being no questions or comments on this regard, the
Annual Report by the Supervisory Committee for year 2020 is
unanimously approved.</font> <font style="color: #000000">Afterwards, the seventh item of the Agenda is open
for discussion:</font> <font style="font-weight: bold; color: #000000">7)</font> <font style="font-weight: bold; text-decoration: underline; color: #000000">CONSIDERATION
OF THE 2021 ACTION PLAN BY THE SUPERVISORY
COMMITTEE</font><font style="font-weight: bold; color: #000000">.</font> <font style="color: #000000">Mr. Osvaldo RECA keeps the floor and puts the
Company&#x2019;s 2021 Action Plan by the Supervisory Committee to
the consideration of directors. Previously to this meeting, such
plan has been put at the disposal of directors. There being no
questions or comments on this regard, the Action Plan presented by
the Supervisory Committee for year 2021 is unanimously
approved.</font> <font style="font-style: italic; color: #000000">(&#x2026;)</font> <font style="color: #000000">There being no further business to transact, the
meeting is adjourned at</font> 12:20 PM.</font></font></div>
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<div><font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">Osvaldo Arturo
Reca</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">Chairman</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">Central Puerto
S.A.</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
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<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>cepu_item5.htm
<DESCRIPTION>ENGLISH TRANSLATION OF AN EXCERPT OF THE MINUTES OF A MEETING OF THE SUPERVISORY COMMITTEE OF CENTRAL PUERTO S.A.
<TEXT>
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<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-weight: bold">Exhibit 5</font><br></font></div>
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<font style="font-weight: bold; font-style: italic; font-family: Times New Roman; font-size: 13px">
&#xA0;SUPERVISORY COMMITTEE'S ANNUAL REPORT</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Buenos Aires, March 15, 2021</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
To Directors and Shareholders</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
of Central Puerto S.A.</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Dear Sir/Madam,</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Acting in our capacity as members of the Supervisory Committee of
Central Puerto S.A. (hereinafter, the "<font style="text-decoration: underline">Committee</font>") and pursuant to
applicable regulations, we issue this report with regard to the
treatment given to the matters falling under our competence during
the annual period ended December 31, 2020, which are set forth in
Part IV, section 110 of Law no. 26831, and in Title II, Chapter
III, Part V of the Argentine Securities Commission Regulations
(N.T. 2013) (hereinafter, "<font style="text-decoration: underline">CNV regulations</font>", detailed in
section 3 of this report.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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I.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-weight: bold; font-style: italic; font-family: Times New Roman; font-size: 13px">
Appointment of the Supervisory Committee</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The Committee was appointed by the resolution of the Company's
Meeting dated April 14, 2004.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="display: table-cell; width: 47px"><font style="font-weight: bold; font-style: italic; font-family: Times New Roman; font-size: 13px">
II.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-weight: bold; font-style: italic; font-family: Times New Roman; font-size: 13px">
Committee's Composition</font></div>
</div>
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</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
As of December 31, 2020, the Committee was composed of directors
Juan Jos&#xE9; Salas, Jos&#xE9; Luis Morea and Tom&#xE1;s Jos&#xE9;
White as members, and Jorge Eduardo Villegas and Oscar Luis Gosio
as deputy members. Juan Jos&#xE9; Salas, Jos&#xE9; Luis Morea,
Tom&#xE1;s Jos&#xE9; White and Jorge Eduardo Villegas are
independent directors, according to CNV Regulations, while Oscar
Luis Gosio is a non-independent director, according to said
regulations.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The Committee's members' term of office is one year, and they can
be reelected for an equal term. The Internal Regulations of the
Supervisory Committee's Operation, (hereinafter, the
"Regulations"), were adopted by resolutions of the Company's Board
of Directors dated May 9, 2003, and subsequent amendments dated
March 5, 2014 and August 5, 2015.</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The role of the Supervisory Committee is set forth in section 110
of Law no. 26831, in CNV Regulations and in its own
Regulations.</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">1</font></div>
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III.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-weight: bold; font-style: italic; font-family: Times New Roman; font-size: 13px">
Scope of the tasks performed</font></div>
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</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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The main tasks performed are detailed below:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The Committee held meetings during the period ended December 31,
2020, with the regularity set forth by the Regulations, for which
has received support from the legal advisor about several aspects
of the Supervisory Committee's functions and responsibilities, in
accordance with current regulations.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The Committee has carried out the tasks that were considered
necessary with regard to its competence matters set forth in
section 110 of Law no. 26831 and in CNV Regulations, which
included:</font></div>
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1)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-style: italic; font-family: Times New Roman; font-size: 13px">
External Auditor's Independence</font></div>
</div>
</div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The appointment of the external auditor has been
analyzed.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The proposal of professional services received to audit the
financial statements as of December 31, 2020, has been assessed.
The Board of Directors was suggested to appoint the firm Pistrelli,
Henry Martin y Asociados S.R.L. (Member of Ernst &amp; Young Global
LTD.), (&#x201C;EY&#x201D;), as independent auditors for the period
2020.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The fulfillment of the external audit work plans has been analyzed
with the information provided by them in the meetings held to
analyze the quarterly balances and the annual balance.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The independence of the auditing company has been assessed, as well
as its operational policies.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The services provided by the external audit have been analyzed, as
well as the professional fees invoiced, which are considered
reasonable with regard to the services provided.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
2)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-style: italic; font-family: Times New Roman; font-size: 13px">
Internal Control System:</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The internal audit has taken part in the Supervisory Committee's
meetings and has produced the reports corresponding to the internal
audit activities set forth by the Annual Work Plan, which was
submitted and produced with a risk approach and focusing on its
effects and impact on the Company's operations and on the
accounting and financial information.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
3)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-style: italic; font-family: Times New Roman; font-size: 13px">
Economic and financial information</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The key economic and financial information that the Company
discloses publicly or that it delivers to control agencies has been
analyzed.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
4)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-style: italic; font-family: Times New Roman; font-size: 13px">
Risk Management Information</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
General variables that affect the business regarding the protection
of assets and the company's equity have been assessed.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
&#xA0;5)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Professional
Fees' Proposal</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The Board of Directors' professional fees to be submitted before
the Shareholders' Meeting have been assessed, with the members
abstaining from voting regarding their own fees.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
6)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Transactions with Related
Parties</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The transactions carried out with companies included in section 33
of Law no. 19550 and with related parties defined in section 72 of
Law no. 26831 were assessed in order to define if they are included
in paragraph b) of said section.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 36px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
7)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Conflicts
of interest:</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The transactions have been analyzed to decide if they create
conflicts of interest with members of the governing bodies,
shareholders and frontline managers.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
8)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Other relevant
matters:</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Among the most relevant matters assessed by the Committee are the
following:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
On March 10, 2020, the Committee: a) assessed the Financial
Statements of the Company as of December 31, 2019; b) considered
the Supervisory Committee's Annual Report from 2019; c) considered
the Action Plan for the 2020 period; d) issued an opinion about the
professional fees of the Board of Director, the Statutory Audit
Committee and the external auditor; e) considered the CNV General
Resolution no. 797/2019. Approval: i) of the general manager
replacement Plan, ii) of the Guidance Plan for new directors, iii)
Appointment of the legal advisory services manager as the Company's
corporate secretary and iv) Dividend Distribution Policy; f)
considered Internal Audit Matters and their compliance and g)
approved the confirmation of the amendments to the Loan Agreements
entered into by the Company and CP Manque S.A.U. and CP Los Olivos
S.A.U.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
On March 19, 2020, the Committee pre-approved the total fees for
the professional services offered to the Company and its
subsidiaries<font style="color: #FF0000">&#xA0;</font>by Pistrelli,
Henry Martin y Asociados S.R.L. (Member of Ernst &amp; Young Global
LTD.), as well as the ones already submitted and approved in April
2019.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
On April 16, 2020, the Committee pre-approved: a) additional fees
to the ones duly pre-approved on April 24, 2019, August 6, 2019,
and March 17, 2020 with regard to the professional services
provided by Pistrelli, Henry Martin y Asociados S.R.L. (Member of
Ernst &amp; Young Global LTD.), as well as the ones already
submitted and approved in April 2019, and b) the total fees for the
professional services offered by Pistrelli, Henry Martin y
Asociados S.R.L. (Member of Ernst &amp; Young Global LTD.) to the
Company and its affiliates corresponding to year 2020.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
On April 24, 2020, the Committee considered: a) the Report with the
Result of the 2019 Annual Audit, b) the approval of the
professional services provided to Central Puerto S.A. and its
affiliates by Pistrelli, Henry Martin y Asociados S.R.L. (Member of
Ernst &amp; Young Global LTD.), as well as the ones already
submitted and approved in April 2019, and c) Internal Audit and
Compliance Matters (SOX 404 Certification) 2019.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
On May 27, 2020, the Committee considered: a) the Presentation of
the EY Quarterly Report about the Financial Statements as of March
31, 2020, and b) Internal Audit and Compliance Matters
(Integrity).</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
On June 24, 2020, the Committee evaluated the purchase and
acquisition by the Company of 30% of the shareholders' equity of CP
Renovables S.A. from a minority shareholder, and b) Internal Audit
and Compliance Matters (Integrity).</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
On June 26, 2020, the Committee pre-approved the additional fees
for the professional services provided to the Company and its
affiliates by Pistrelli, Henry Martin y Asociados S.R.L. (Member of
Ernst &amp; Young Global LTD.), as well as the ones already
submitted on April 16, 2020.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
On August 26, 2020, the Committee considered: a) the Presentation
of the EY Quarterly Report about the Financial Statements as of
June 30, 2020, and b) Internal Audit and Compliance matters
(Integrity).</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
On September 4, 2020, the Committee pre-approved: a) additional
fees to the ones duly pre-approved on April 16, 2020, and on June
26, 2020, with regard to the professional services provided by
Pistrelli, Henry Martin y Asociados S.R.L. (Member of Ernst &amp;
Young Global LTD.) to the Company and its affiliates.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
On November 10, 2020, the Committee considered: a) the Presentation
of the EY Quarterly Report about the Financial Statements as of
September 30, 2020, b) Situation of the Company with regard to BCRA
regulations, Communications A 7123, 7133 and 7138, and c) Internal
Audit and Compliance Matters (Integrity).</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
In order to perform its functions during the 2020 period, the
Committee has received the corresponding reports and the requested
explanations and has no observations to make.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 47px"><font style="font-weight: bold; font-style: italic; font-family: Times New Roman; font-size: 13px">
IV.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-weight: bold; font-style: italic; font-family: Times New Roman; font-size: 13px">
Work Results</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Pursuant to the work performed when carrying out the functions
mentioned in this Annual Report regarding the period ended December
31, 2020, the Committee is able to state the
following:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
1)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-style: italic; font-family: Times New Roman; font-size: 13px">
External Audit</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
No observations shall be made with regard to the external auditor's
independence, and their performance provided reliability to the
work performed and informed to third parties.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The external auditors' fees during the period ended December 31,
2020, amounted to ARS 20,866,428, as audit services, and to ARS
1,007,724 as tax services.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
2)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-style: italic; font-family: Times New Roman; font-size: 13px">
Internal Control System</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
No observations shall be made with regard to the work performed
about the administrative accounting systems or internal control
that could affect the information to be submitted before the
Argentine Securities Commission and the markets.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
3)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-style: italic; font-family: Times New Roman; font-size: 13px">
Economic and financial information</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
The Committee has no material observations to make regarding the
economic and financial information publicly disclosed by the
Company or delivered to control agencies.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
4)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-style: italic; font-family: Times New Roman; font-size: 13px">
Risk Management Information</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Relevant aspects regarding risk management have been included in
the financial statements reported to the Argentine Securities
Commission.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
5)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-style: italic; font-family: Times New Roman; font-size: 13px">
Fees Proposal</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
No objections shall be raised regarding the directors' fees for
their consideration in the Shareholders' Meeting.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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6)</font></div>
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Transactions with Related Parties</font></div>
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Transactions with related parties were performed under typical and
usual market conditions.</font></div>
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<div style="text-align: center"><font>&#xA0; <font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Juan Jos&#xE9; Salas&#xA0;</font></font></div>
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<div style="text-align: center"><font>&#xA0; <font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Jos&#xE9; Luis</font> <font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Morea&#xA0;&#xA0;&#xA0;&#xA0;</font></font></div>
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<div style="text-align: center"><font>&#xA0; <font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Tom&#xE1;s White</font></font></div>
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<DOCUMENT>
<TYPE>EX-99.6
<SEQUENCE>7
<FILENAME>cepu_item6.htm
<DESCRIPTION>ENGLISH TRANSLATION OF CENTRAL PUERTO'S CORPORATE GOVERNANCE CODE SUBMITTED TO THE ARGENTINE SECURITIES REGULATOR
<TEXT>
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<font style="font-weight: bold">&#xA0; <font style="font-family: Times New Roman; font-size: 13px">Exhibit
6</font><br></font></div>
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CENTRAL PUERTO S.A.</font></div>
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CORPORATE GOVERNANCE CODE</font></div>
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Approved at the Board of Directors&#x2019; Meeting dated March 15,
2021</font></div>
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<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 16px">
Index</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">&#xA0;PAGE</font></font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">1.
INTRODUCTION</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">2.
RELATIONSHIP WITH THE COMMUNITY</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
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<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
2.1. ACTIONS TOWARDS THE COMMUNITY (CORPORATE SOCIAL
RESPONSIBILITY)</font></div>
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<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">2.2.
INFORMATION TO BE SUPPLIED THROUGH THE WEBSITE</font></div>
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<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
2.3. RELATIONSHIP WITH SUPPLIERS, CLIENTS AND THE PUBLIC
SECTOR</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</td>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">3.
RELATIONSHIPS WITH SHAREHOLDERS</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
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<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
3.1. INFORMATION SUPPLY</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
3.2. SHAREHOLDERS MEETINGS</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
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<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
3.3 POLICY OF DIVIDEND DISTRIBUTION</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">4.
OPERATIONS BETWEEN RELATED PARTIES UNDER CNV
REGULATIONS</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">5. THE
BOARD OF DIRECTORS</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
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<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
5.1. FORMATION. POLICY ON INDEPENDENT MEMBERS
PROPORTION</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
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<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
5.2. CORPORATE SECRETARIAT</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">9</font></div>
</td>
</tr><tr>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
5.3. Committees</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">9</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px;">5.4.
FUNCTIONING AND MEETINGS</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">9</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px;">5.5.
BELONGING TO BOARDS OF DIRECTORS OF OTHER COMPANIES</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">10</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
5.6. DECISIONS OF THE BOARD OF DIRECTORS</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">10</font></div>
</td>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
5.7. DIRECTORS INFORMATION DUTY</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">10</font></div>
</td>
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<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
5.9. Conflict of Interest</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">11</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px;">5.10.
Training and Evaluation of directors and managers</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">11</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
5.10. Guidance Program for New Directors</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">12</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
5.12. Strategy of the Company (Annual Business Plan)</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">12</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">6.
SUPERVISORY COMMITTEE</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">13</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px;">6.1.
General Responsibility</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">13</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
6.2. Specific responsibilities</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">14</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px;">6.3.
Members and Organization</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">15</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
6.4. Meetings</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">16</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">7.
<font style="font-family: Times New Roman; font-size: 13px;">STATUTORY AUDIT
COMMITTEE, INTERNAL AND EXTERNAL AUDITORS</font></font></div>
</td>
<td style="vertical-align: middle; width: 25%;">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">16<br>
</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
7.1. Statutory Audit Committee</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">16<br></font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
7.2. Internal Auditors</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">17</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
7.3. External Auditors</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">18<br></font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px;">7.4.
Independence criteria of external auditors</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">18<br></font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
7.5. Remuneration</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">18<br></font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">8.
Policies of risk control and management</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">18<br></font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">9.
<font style="font-family: Times New Roman; font-size: 13px;">PROCEDURES</font></font></div>
</td>
<td style="vertical-align: middle; width: 25%;">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">19<br>
</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
9.1. Handling of confidential information</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">19<br></font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px;">
9.2. Purchase and sale of shares and securities</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">19</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px;">The
company has an Insider Trading Policy.</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr style="background-color: rgb(201, 220, 243);">
<td style="vertical-align: middle; width: 42%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px;">9.3.
Inquires and Complaints</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div style="text-align: right"><font style="font-family: Times New Roman; font-size: 13px">19<br></font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 42%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 25%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px"><br></font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249019"><!--anchor--></a>1.
INTRODUCTION</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">This
Corporate Governance Code (the &#x201C;<font style="text-decoration: underline">Code</font>&#x201D;) has been drafted
by the Legal Counseling Department of Central Puerto S.A.
(&#x201C;<font style="text-decoration: underline">CPSA</font>&#x201D;
or the &#x201C;<font style="text-decoration: underline">Company</font>&#x201D;) and was
approved at the Board of Directors&#x2019; Meeting of the Company on
November 7, 2013 and it was updated on March 10, 2017, December 27,
2018 and March 10, 2020.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Although
the purpose for the preparation of this Code was to comply with the
regulations in force which apply to CPSA, this Code sets forth
standards for the better administration and control of the Company
and its relationships with its subsidiaries and/or affiliates, in
order to increase its reliability and value, as well as to
encourage the administrators&#x2019; production of the information
specifically linked to the management of the Board of Directors,
for the benefit of its shareholders and the market in
general.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Therefore,
beyond complying with the legal framework within which the Company
develops its activities, these standards stem from the need for
greater transparency in corporate governance, facilitating
relationships within the capital market, improving business
management and the management of the risks inherent to the
Company&#x2019;s management, and they also allow for the reduction
of transactional costs and the identification and resolution of
potential conflicts of interest.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Code includes recommendations on &#x201C;good governance&#x201D;
which have already been adopted in international corporate practice
and which we have adapted to the Argentine legal framework and to
the context and business practices in force in
Argentina.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Code shall be applied by CPSA as it is a company admitted to public
offering and due to the fact that the constant increase of
information produced by open companies has been verified as a
universal tendency.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
recommendations and guidelines set forth in the Code are fully
compatible with the Business Entities Act No. 19500, the executive
orders and regulations in force established by CNV (Argentine
Securities Commission), CPSA&#x2019;s Bylaws, CNV General Resolution
797/19 and Law No. 26831 of Capital Market.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Code sets forth an adequate management and control system so that
the Company can concentrate on the generation and maintenance of
its values and principles, aimed at creating a clarity and
wellbeing environment for the success of the Company.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company believes that the existence of a Code as this one shall be
appreciated as a valuable element in the scope of the companies
authorized to publicly trade their shares. Moreover, it is
attractive for potential investors, who will constantly be
presented with clear and accurate information about the operation
of corporate business.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company intends to periodically revise the Code, in order to
include new principles regarding issues under its scope and
adapting its guidelines and recommendations to the regulations that
may be issued in the future in that regard.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249020"><!--anchor--></a>2.
RELATIONSHIP WITH THE COMMUNITY</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249021"><!--anchor--></a>2.1.
<font style="text-decoration: underline">ACTIONS TOWARDS THE
COMMUNITY (CORPORATE SOCIAL RESPONSIBILITY)</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company shall develop actions towards the community which, in
addition to the applicable legislation, contribute to a respect
culture of the Company towards the community.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">For
such purposes, the Company is focused on the development of
environmental and social policies which comply with the legal
regulations in force and international standards.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
addition, the Company has a Code of Business Conduct
(&#x201C;<font style="text-decoration: underline">CDCE</font>&#x201D;). That document
contains the good practices that the directors, managers and
employees of the Company must comply with when developing their
operations and activities. These good practices include: (i) the
relationship with clients, shareholders, suppliers, the public
sector and employees; (ii) intellectual and industrial property and
privileged information; and (iii) Conflict of
Interest.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
2.1.1. Environmental policy</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company shall verify, through the Board of Directors, the
implementation and compliance with those mechanisms aimed
at:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Controlling
compliance with all the regulations applicable to the Company
regarding environmental issues and promoting environmental
evaluation and improvement programs pursuant to international
standards, provided costs are reasonable in relation to the
benefits obtained</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Fostering a healthy
and sustainable environment management in order to help control the
impact of their activities, products and services on the
environment</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Ensuring compliance
with policies that emphasize prevention of environmental pollution
through the use of clean technologies and a proper handling of
industrial waste</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Continuing
developing environmental administration systems in its processes
and tending towards the handling of clean technologies in the
different productive stages, provided the costs are reasonable,
with the active participation of employees, suppliers and third
parties</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Establishing
efficient systems of low generation, high elimination, safe and
responsible industrial waste enclosure or
recirculation</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">f)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Developing,
designing, operating facilities, developing activities and
providing its products and services, through the efficient use of
energy and other inputs, the sustainable use of renewable resources
and minimizing adverse environmental impacts</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">g)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Adopting mechanisms
to educate on and promote environmental management, the proper use
of industrial waste, sustainable development and clean technologies
among its employees, suppliers, contractors and the community
within which it operates, and providing and promoting environmental
courses and audits</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 96px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
2.1.2<font style="font-weight: bold">.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Integrity Plan</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">We
consider integrity as a fundamental element to develop commercial
activities. It implies that the personnel of the Company act with
loyalty, honesty, transparency and to strictly comply with the
governing national and international legislation and standards. For
this reason, the Company has developed an Integrity Plan (the
&#x201C;<font style="text-decoration: underline">Program</font>&#x201D;).</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Program was created as a tool that enables the strengthening of
CPSA&#x2019;s commitment to the best ethical, legal and professional
standards in order to increase and defend the Company&#x2019;s
reputation. To that effect, it defines a series of preventive
measures towards criminal liability in the business
environment.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">An
employee of the Company is responsible for the development,
coordination and supervision of the Program, who is appointed
Compliance Officer by the Board of Directors. The Compliance
Officer periodically reports to the Supervisory Committee about the
development of the Program and its efficiency. Once the Program is
approved by the Board of Directors, the Compliance Officer is
responsible for the coordination, supervision and compliance with
the Program and he/she must report: (i) the follow-up of its
implementation and any news regarding compliance with the Program
to the Supervisory Committee on a regular basis; and (ii) to the
Board of Directors, at their request or when the specific
circumstances of the case require so.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Supervisory Committee periodically requires a report on the
implementation of the Program from the Compliance Officer.
Nowadays, this Program contains a Compliance Risk Mapping, and it
is formed by different policies, in addition to the
CDCE:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">CDCE</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Antifraud
policy</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Hospitality and
gifts policy</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Donations
policy</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Insider Trading
policy</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">f)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Relationships with
the public sector policy</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">g)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Due diligence
procedure towards third parties and adherence to the Integrity
Program</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
addition, the Program includes procedures to deal with situations
such as anonymous complaints.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Complaints
treatment</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 96px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
<font style="font-variant: small-caps">2.1</font>.3.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Corporate Social Responsibility</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">CPSA,
to the extent of its possibilities and without putting its
shareholders and creditors at risk, shall ensure the development of
programs to improve the quality of life of the community where it
is located, with the additional purpose of promoting the
participation of the individuals connected with the Company in
projects of public interest.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><a name="_Toc67249022"><!--anchor--></a><font style="text-decoration: underline">2.2.</font> <font style="font-variant: small-caps; text-decoration: underline">INFORMATION
TO BE SUPPLIED THROUGH THE WEBSITE</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company has a website <font style="text-decoration: underline; color: #0000FF">www.centralpuerto.com</font>
through which it informs its shareholders, potential investors and
the market in general about economic and financial facts and
relevant facts related to its activities, and it also makes access
to information easier.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
information on the Company&#x2019;s website complies with the
highest standards of confidentiality and integrity and ensures the
storage and registration of information.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
2.2.1. Minimum contents</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
information supplied through the Company&#x2019;s website shall
include, at least, the following:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Company&#x2019;s
Bylaws</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Financial
Statements for the period and for the year corresponding to the
last three periods, together with the reports prepared by external
auditors and the Statutory Audit Committee</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The formation of
the Board of Directors and the Supervisory Committee</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Calls to
Shareholders&#x2019; Meetings</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The decisions
adopted at the Shareholder&#x2019;s Meetings</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">f)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Technical
information regarding generation power plants and installed
power</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">g)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">A mention of the
following websites as sites of interest: the Argentine Securities
Commission (CNV), the Buenos Aires Stock Exchange, the New York
Stock Exchange (&#x201C;<font style="text-decoration: underline">NYSE</font>&#x201D;); the Securities
Exchange Commission (&#x201C;<font style="text-decoration: underline">SEC</font>&#x201D;); the Argentine
Secretariat of Energy, Compa&#xF1;&#xED;a Administradora del
Mercado Mayorista El&#xE9;ctrico S.A. (&#x201C;<font style="text-decoration: underline">CAMMESA</font>&#x201D;) (Wholesale
Electricity Market Administration)</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
addition, the website shall contain the relevant information whose
dissemination is required by the CNV, the Buenos Aires Stock
Exchange, the SEC and the NYSE.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 96px"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
2.2.2.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Updating</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">CPSA&#x2019;s
Head of Investors Relations shall be in charge of the
Company&#x2019;s website.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
website will be updated should any change arise that justify such
update. Each department must inform such circumstance when facts
which must reported in the website occur.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">This
way, through the Company&#x2019;s website, shareholders are
guaranteed equal access to non-confidential and relevant
information for decision-taking at the meetings of the Company. In
addition, the website establishes proper mechanisms for direct
consultation from the community about any inquiries regarding the
Company. Therefore, any interested shareholder or investor can
submit all queries deemed necessary to the Head of Investors
Relations by email, telephone or a meeting in person. The Company
has a specialized area to respond shareholders and other
investors&#x2019; queries.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
2.2.3. Controls</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company has adopted mechanisms that guarantee that the information
transmitted through electronic means complies with the highest
standards of confidentiality and integrity. There are necessary
control mechanisms regarding the safety and access to the website
for the achievement of such purposes.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: -48px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249023"><!--anchor--></a>2.3.
<font style="text-decoration: underline">RELATIONSHIP WITH
SUPPLIERS, CLIENTS AND THE PUBLIC SECTOR</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The control policies and mechanisms of the Company on the
relationships with its clients, suppliers and the public sector
have been designed to train all its personnel regarding not making
undue payments aimed at obtaining a benefit, no matter which
transaction is being negotiated.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company shall base its relationships with its suppliers on
legitimate, efficient and reasonable practices. The characteristics
of these relationships are set forth in the CDCE and other
policies.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249024"><!--anchor--></a>3.
RELATIONSHIPS WITH SHAREHOLDERS</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">At all
times, the Board of Directors guarantees the existence of a fair
treatment among all it shareholders. For such purpose, it shall
protect all the minority shareholders&#x2019; rights in strict
compliance with the mechanisms established in the Business Entities
Act and the regulations set forth by CNV, SEC and NYSE, which are
sufficient to foster the attendance and participation of minority
shareholders at Shareholders&#x2019; Meetings.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">This
way, all CPSA&#x2019;s shareholders:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: -1px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 49px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Have effective and
economic mechanisms to be represented at Shareholders&#x2019;
Meetings; and</font></div>
</div>
</div>
<div style="margin-left: -1px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 49px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Can access publicly
available information of the Company in a timely and integral
manner</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Therefore,
all shareholders shall have sufficient information in order to
consider, approve or reject all matters submitted to decision,
through their participation in the Shareholders&#x2019;
Meeting.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249025"><!--anchor--></a>3.1.
<font style="text-decoration: underline">INFORMATION
SUPPLY</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Additionally,
shareholders shall have access to relevant information through the
website <font style="text-decoration: underline; color: #0000FF">www.centralpuerto.com</font>.
Such website shall contain the relevant information whose
dissemination is required by CNV, SEC, Buenos Aires Stock Exchange,
and NYSE.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249026"><!--anchor--></a>3.2.
<font style="text-decoration: underline">SHAREHOLDERS&#x2019;
MEETINGS</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company complies with all provisions set forth in the Business
Entities Act, CNV regulations and the Bylaws regarding the
Shareholders&#x2019; Meetings mechanisms to guarantee the rights of
all shareholders and their fair treatment, regulating the practical
aspects related to:</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The
call</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The
Agenda</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The mechanisms to
communicate the shareholders&#x2019; attendance and their adequate
representation</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The disclosure of
information</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Representation
mechanisms</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Lastly,
it is guaranteed that shareholders shall not face difficulties to
vote through their proxies.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249027"><!--anchor--></a>3.3
<font style="text-decoration: underline">POLICY OF DIVIDEND
DISTRIBUTION</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">At the
Board of Directors&#x2019; meeting dated March 10, 2020, a Dividend
Distribution Policy was approved.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249028"><!--anchor--></a>4.
OPERATIONS BETWEEN RELATED PARTIES UNDER CNV
REGULATIONS</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company has a Policy of Transactions with Related Parties, which
has been approved by the Supervisory Committee on August 10, 2018.
In addition, the Internal Audit department monitors compliance with
such policy and, should it detect an operation that does not fall
within the parameters, such is reported to the Supervisory
Committee.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249029"><!--anchor--></a>5. THE
BOARD OF DIRECTORS</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">All the
Company&#x2019;s business, activities and matters are and will be
managed in accordance with the policies and the guidelines
established by the Board of Directors.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
general and specific responsibilities of the Board of Directors are
set forth in Law&#xA0;No.&#xA0;19550 and the Company&#x2019;s
Bylaws.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">At all
times, the Board of Directors must perform its operations in strict
compliance with its duties of loyalty and diligence.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249030"><!--anchor--></a>5.1.
<font style="text-decoration: underline">FORMATION. POLICY ON
INDEPENDENT MEMBERS PROPORTION</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-family: Times New Roman; font-size: 13px">
Formation</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Pursuant
to the Bylaws, the Company&#x2019;s management and administration
shall be in charge of a Board of Directors, formed by eleven (11)
directors and eleven (11), or less, deputy directors, as
established at the Shareholders&#x2019; Meeting.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
accordance with the applicable regulations and to the<font style="font-size: 13px">&#xA0;</font>effects of a clear externalization
of the Company&#x2019;s issues, the Board of Directors has a
sufficient number of independent directors.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-family: Times New Roman; font-size: 13px">
Proportion of independent directors</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
It is established as a Company&#x2019;s policy that the proportion
of independent directors in the Board of Directors shall be of at
least a third of the total number of Board of Directors&#x2019;
members.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
All reports to the CNV informing the appointment of directors must
include in detail the quantity and proportion of independent
directors, executives and non-executives.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249031"><!--anchor--></a>5.2.
CORPORATE SECRETARIAT</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Corporate Secretariat of the Company&#x2019;s Board of Directors
must assist the Chairman of the Company in the effective
administration of Board of Directors, collaborating with the
communication between shareholders, the Board of Directors and the
General Management.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
addition, the Corporate Secretariat must implement and monitor the
effectiveness of the corporate governance practices.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Legal Manager of the Company shall be in charge of the Corporate
Secretariat.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249032"><!--anchor--></a>5.3.
<font style="text-decoration: underline">Committees</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">With
the exception of the Supervisory Committee and the provisions
established in the following paragraph, the Board of Directors has
decided that it is not necessary to form specific committees in the
Board of Directors; therefore it shall perform its duties in an
effective and efficient manner without the need of
committees.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Regarding
the compensation system of managers and other key personnel, a
Remuneration Committee is established and it shall be formed by the
Chairman of the Board of Directors, the General Manager and the
Human Resources Manager.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><a name="_Toc67249033"><!--anchor--></a>5.4. <font style="font-variant: small-caps; text-decoration: underline">FUNCTIONING
AND MEETINGS</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Chairman of the Board of Directors shall draft the Agenda of the
Board of Directors&#x2019; meetings, where he/she shall include all
those issues whose consideration has been requested by the General
Manager or other directors.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">At each
Board of Director&#x2019;s meeting, the following must be included
as items on the Agenda:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: -1px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 49px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Analysis of new
situations that may affect the business</font></div>
</div>
</div>
<div style="margin-left: -1px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 49px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Analysis of the
reports prepared by the General Manager and the main managers about
strategic, operational and performance aspects</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Should
the General Manager not be a member of the Board of Directors,
he/she must participate in the meetings.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">9</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In its
entirety, the Board of Directors shall debate about all the matters
it considers relevant for the Company&#x2019;s
business.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><a name="_Toc67249034"><!--anchor--></a>5.5. <font style="text-decoration: underline">BELONGING TO BOARDS OF DIRECTORS OF
OTHER COMPANIES</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Board of Directors has determined that there are no limitations
regarding directors of the Company performing duties in other
entities, provided such entities in which they act as directors are
not the Company&#x2019;s competitors. In all cases, they shall be
subject to the incompatibilities established in Sections 264, 273
and 286 of the Business Entities Act.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249035"><!--anchor--></a>5.6.
<font style="text-decoration: underline">DECISIONS OF THE BOARD OF
DIRECTORS</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">When
considering the topics to be dealt with by the Board of Directors,
a thorough analysis thereof must be performed based
on:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Strategic framework
and proposal value</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Financial
implications</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Risks</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Availability of
resources</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Synergy with other
activities of the Company</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">f)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Perception of
shareholders and the market</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">g)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Contingency plans
and environmental aspects</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Board of Directors&#x2019; Minutes shall include the
following:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The key elements of
the debate</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The statements of
personal interest of the directors</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The votes of the
directors for each topic</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The decisions taken
and the facts and rationale for them</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Action plans and
assignment of tasks</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249036"><!--anchor--></a>5.7.
<font style="text-decoration: underline">DIRECTORS&#x2019;
INFORMATION DUTY</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Even
outside the Board of Directors&#x2019; Meetings, directors must be
kept informed about the business of the Company through the
following:</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Conversations with
the Chairman, other directors, the General Manager and external and
internal auditors</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Review of the
material which is sent before the meetings, so that they are able
to prepare for the meetings in advance and even be able to pose
questions to the general management or the corresponding
management</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The material sent
to the directors, prior to any meeting, may include the following,
as appropriate, and subject to the topics of the
Agenda:</font></div>
</div>
</div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Drafts, Agendas and
Minutes of previous meetings</font></div>
</div>
</div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(ii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Financial,
non-financial and internal control reports</font></div>
</div>
</div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(iii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Media reports and
reports prepared by analysts</font></div>
</div>
</div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(iv)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Any other
information to prepare for the meetings beforehand</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">10</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
General Manager and other managers shall provide all information
relevant to the case, in a timely and appropriate manner, so that
the directors can analyze the topic to be addressed.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Chairman, through the Corporate Secretariat of the Company, ensures
that all directors receive the information and documentation
necessary for the consideration and decision of the topics to be
considered.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
5.8. <font style="text-decoration: underline">Remuneration</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
remuneration levels shall be sufficient to lure and keep competent
directors.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
directors&#x2019; remuneration shall be determined at the
Shareholders&#x2019; Meeting when their performance is
approved.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In no
case, shall the fees global amount of the directors exceed the
limits established in Law&#xA0;No. 19550 and CNV
Regulations.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
fees advances of the directors are defined by the Board of
Directors, together with the percentage increase of the General
Manager&#x2019;s monthly remuneration, as long as it differs from
the periodic percentage adjustment for the employees of the
Company.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249037"><!--anchor--></a>5.9.
<font style="text-decoration: underline">Conflict of
Interest</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Through
the CDCE, which forms part of the Integrity Program, the Company
has implemented effective mechanisms to facilitate the prevention,
handling and spreading of the conflicts of interest that may occur
among shareholders, key executives, stakeholders and members of the
Board of Directors.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
directors may enter into agreements with the Company only regarding
activities included in its corporate purpose and under market
conditions, pursuant to Law No. 26831 and CNV
Regulations.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
directors and the executives shall inform their personal interests
related to the decisions submitted for their
consideration.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><a name="_Toc67249038"><!--anchor--></a>5.10. <font style="font-variant: small-caps; text-decoration: underline">Training and
Evaluation of directors and managers</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company has decided not to implement a formal annual evaluation
procedure based on the Business Entities Act, which establishes
that it is at the Shareholders&#x2019; Meeting that the Board of
Directors&#x2019; performance is annually evaluated. The results of
the Board of Directors&#x2019; performance are annually presented on
the Company&#x2019;s Annual Report and, regarding the Supervisory
Committee, through the Supervisory Committee&#x2019;s Annual Report,
which is considered by the Company&#x2019;s Board of Directors.
Moreover, and at least quarterly, the Company&#x2019;s performance
and indirectly the Board of Director&#x2019;s performance are
evaluated on the Performance Report.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">11</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">As
needs appear in the Company, as well as needs regarding the
directors&#x2019; role and responsibility, the training of the
members of the Board of Directors is defined. Such training may be
entrusted to external counselors or internally to the
Company&#x2019;s personnel.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Managers</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Board of Directors shall generally approve a general policy of
selection, evaluation and remuneration of managers, on the basis of
a particular report prepared by the Manager of Human
Resources/Remunerations Committee.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">As
needs stem from the development of the activities by the Company,
the General Management shall define training for the first level
managers. Moreover, the Board of Directors shall evaluate the need
to implement a continuous training plan for first level managers
regarding Corporate Governance.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Board of Directors shall verify the general management&#x2019;s
performance and compliance with the objectives set when considering
the performance reports and the approval of the Company&#x2019;s
Financial Statements.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249039">
<!--anchor--></a>5.10.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
Guidance Program for New Directors</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Guidance
is an important phase to ensure that the new appointed directors
are informed on the relevant aspects of the Company and mainly on
its governing bodies. Moreover, it is important to guide and inform
the new directors on the rights and obligations that are related to
the performance of the role to which they were
appointed.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">To such
end, the Board of Directors has approved the &#x201C;Guidance
Program for New Directors&#x201D;. The Corporate Secretary is in
charge of implementing it.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249040">
<!--anchor--></a><font style="text-decoration: underline">5.12.
Strategy of the Company (Annual Business Plan)</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company&#x2019;s general policies and strategies are approved by the
Board of Directors. The Board of Directors considers and approves
the Annual Business Plan (&#x201C;<font style="text-decoration: underline">Annual Plan</font>&#x201D;), which is
prepared by the general management and involves control policies on
the handling of the Company&#x2019;s matters; an annual budget;
operations and mechanisms planning to control the performance of
the general management and compliance with objectives.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
5.12.2. Preparation</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Annual Plan and the Performance Reports are prepared by the
Company&#x2019;s Management.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
5.12.3. Approval</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Annual Business Plan is considered and approved by the
Company&#x2019;s Board of Directors.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">12</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
5.12.4. Compliance. Supervision</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Board of Directors shall be the body in charge of compliance with
rules and policies established in the Annual Plan.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249041"><!--anchor--></a>6.
SUPERVISORY COMMITTEE</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><a name="_Toc67249042"><!--anchor--></a>6.1. <font style="font-variant: small-caps; text-decoration: underline">General
Responsibility</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">It
shall be appointed by the Board of Directors to perform the
following:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">a) To
give its opinion regarding the appointment of the external auditors
to be hired by the Company and to safeguard their
independence;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">b) To
supervise the functioning of the internal control system and the
administrative-accounting system, as well as the reliability of the
former and of all the financial information or other significant
facts submitted before CNV and the markets, in compliance with the
applicable reporting regime;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">c) To
supervise the application of policies on information regarding the
Company&#x2019;s risk management;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">d) To
give its opinion regarding the reasonableness of the proposals of
fees and share options of the directors and managers of the Company
that the management body may formulate;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">e) To
give its opinion regarding compliance with legal requirements and
the reasonableness of the issuance conditions of shares or
securities convertible into shares in case of capital increase,
excluding or limiting the right of first refusal;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">f) To
verify compliance with behavior regulations that may
apply;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">g) To
give a grounded opinion regarding the operations with related
parties in the cases established by Law No. 26831 and CNV
Regulations and as per the Policy on transactions with related
parties. To give a grounded opinion as the CNV may determine every
time there is or there may exist a reputed conflict of interest in
the Company.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Annually,
the Supervisory Committee shall prepare an Action Plan for the
fiscal period to be reported. The directors, managers and members
of supervisory bodies shall attend the Committee&#x2019;s meetings
at the request of its members.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">13</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249043"><!--anchor--></a>6.2.
<font style="text-decoration: underline">Specific
responsibilities</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: -48px">
<font style="font-family: Times New Roman; font-size: 13px">The
Supervisory Committee shall do the following:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To annually review
and evaluate the audit performance and the Corporate Governance
Code, and to summit before the Board of Directors the amendments
for their approval</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To review and
analyze, together with the Management and the internal and external
audit team, the following:</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The quality and
application of key accounting principles and
practices;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(ii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The internal
control system and the policies related to the evaluation and
management of risk;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(iii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The effects of
regulatory and accounting changes on financial
statements;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(iv)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">All operations,
agreements and relevant commitments and all other non-consolidated
relationships of the Company with entities, which relationships may
have a material effect, present or future, on the financial
statements;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(v)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">All pro-forma
information and proposal to be included in the financial statements
and/or for their disclosure to third parties;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(vi)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Audited annual
financial statements, interim financial statements and all other
accounting-financial information to be provided to third
parties;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To analyze general
policies of management and risk management. To monitor the risks of
the Company and to communicate the Board of Directors on the
results.</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">With the support
from external and internal auditors as the case may be, to review
relevant changes to the internal controls, including factors that
may significantly affect their effectiveness</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
To periodically request the Compliance Officer a report on the
implementation of the Integrity Program and to approve plans, codes
or procedures that may be incorporated as annexes to the Integrity
Plan; and at least every six months, to inform the Board of
Directors on the news related to the implementation and updating of
the Integrity Program</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">f)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Together with the
Legal Counseling Department, to review all legal matters that may
affect the financial statements of the Company.</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">g)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Regarding the
external auditor:</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To annually
evaluate the eligibility, independence and performance of the
auditor and of the members of the audit team, including rotation
policies of the auditor in charge and of the second-partners
reviewers;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(ii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Supervisory
Committee considers whether the services of the External Audit
comply with SEC and CNV standards. The Supervisory Committee shall
perform an annual review of the commitment, the efficiency and
independence of the external auditor&#x2019;s work. This review
shall be made based on the information provided by the different
Managements of the Company that interact with the external auditors
and have the necessary knowledge to define their compliance as per
the exposed parameters. Such review shall be later submitted to the
Supervisory Committee as a report to then be considered by the
Board of Directors.</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">14</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(iii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To analyze with the
auditor all relationships or services that may affect his/her
impartiality and/or independence; as part of this responsibility,
the Supervisory Committee shall pre-approve audit services and
others that the independent auditor may render so as to ensure that
the services do not affect the auditor&#x2019;s independence in
accordance with the &#x201C;Pre-approval policy and the Procedure
Memorandum for audit services, services related to audit and tax
services&#x201D; opportunely adopted by the Supervisory
Committee;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(iv)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To facilitate the
resolution of all disagreements between the auditor and
Management;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(v)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To review the
documentation submitted by auditors and to make queries to the
partner of the audit firm that it may consider
relevant;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">h)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Together with the
audit team, to analyze the following:</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The difficulties
informed by the auditor when performing the audit, including the
limitations to the scope of work or access to the required
information;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(ii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Accounting
adjustment and reclassifications identified or proposed by the
auditor and that had not been recorded;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(iii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Matters related to
accounting and auditing aspects that may appear during the
development of the work;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(iv)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Matters identified
or problems stemming from the responses of Management to such
adjustments, communications or letters, and</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(v)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The annual audit
plan</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Regarding the
internal audit:</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To review and
approve annual audit plans, which shall include monitoring
activities of their implementations, effectiveness and resources
allocation for their execution, as well as the analysis, prevention
and detection of frauds and broad focus on the evaluation of the
Company&#x2019;s internal control. The Audit Plan covers audit and
compliance activities executed by the Audit and Compliance
Department. It is prepared based on risks weighed by impact and
occurrence probability.</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(ii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To review the
responsibilities, structure, eligibility and budget of the task;
and</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="font-family: Times New Roman; font-size: 13px">(iii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To review the
reports, plans for corrective measures and reports on
compliance</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><a name="_Toc67249044"><!--anchor--></a>6.3. <font style="font-variant: small-caps; text-decoration: underline">Members and
Organization</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Supervisory Committee shall be formed by three directors. The
majority of its members shall be independent
directors.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Each
member shall be sufficiently eligible and have experience in
accounting, audit and finances matters and risk management. One of
them shall be appointed &#x201C;financial
expert&#x201D;.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Committee shall regularly inform the Board of Directors on the
actions made and the topics analyzed in its meetings.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Any
director may propose the members of the Supervisory Committee. The
appointment shall be made in accordance with the majorities
established in the Bylaws of the Company for the Board of
Director&#x2019;s decisions.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">15</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249045"><!--anchor--></a>6.4.
<font style="text-decoration: underline">Meetings</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Committee shall meet at least once every three months; or more
often should the circumstances require so. To the extent possible,
the Committee shall meet with the manager responsible for the
administrative-financial management and other members of management
(as considered appropriate), and with the internal and external
auditor, in joint or separate sessions.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249046">
<!--anchor--></a>7.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
STATUTORY AUDIT COMMITTEE, INTERNAL AND EXTERNAL
AUDITORS</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249047"><!--anchor--></a>7.1.
<font style="text-decoration: underline">Statutory Audit
Committee</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Statutory Audit Committee shall have the following powers and
obligations exclusively limited to legal and accounting aspects,
without participation in business management, administration,
financing, trade and/or production since these are matters under
the exclusive scope of the Board of Directors:</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To supervise the
management of the Company. To such effect, it shall examine the
books and documentation when it deems it proper and, at least, once
every three (3) months.</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To verify in the
same manner and with the same frequency availabilities and
securities, as well as obligations and their compliance. It can
request the preparation of balance sheets to verify
so.</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To attend with
voice, but without vote the Meetings of the Board of Directors, of
the Supervisory Committee and of the Shareholders. It shall be
called for all of them.</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To control the
formation and survival of the directors&#x2019; guarantees and to
demand the measures necessary to correct any
irregularity</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To submit before
the Shareholders&#x2019; Meeting a written and grounded report on
the economic and financial situation of the Company, ruling on the
Annual Report, the Inventory, the Balance Sheet and the Income
Statement</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">f)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To provide
shareholders representing no less than 2% (two percent) of share
capital, whenever they request so, information on the matters under
its scope</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">g)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To call Special
Meetings, when deemed necessary; and Shareholders&#x2019; Meetings
of special character when the Board of Directors omits
so</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">h)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To cause to include
in the Agenda of the Shareholders&#x2019; Meeting the items it
considers appropriate</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To watch that the
social bodies duly comply with the law, the Bylaws, the Code and
the decisions taken at the Shareholders&#x2019; Meeting</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">16</font></div>
</div>
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<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">j)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To supervise the
Company&#x2019;s liquidation</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">k)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To investigate the
complaints made in writing by shareholders representing no less
than 2% (two percent) of capital share. To mention them in a verbal
report at the Shareholders&#x2019; Meeting and to express the
corresponding considerations and proposals in that regard. To
immediately call a Shareholders&#x2019; Meeting to decide on such
matter when the investigated situation is not adequately treated by
the Board of Directors and it is deemed necessary to act
urgently.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249048">
<!--anchor--></a>7.2.&#xA0;</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
Internal Auditors</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company has an internal audit department with direct report line to
the Supervisory Committee and the General Management.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
internal auditors are responsible for the examination of the
internal control system and for improvement
recommendations.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">This
task is currently performed by employees.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">All the
members of the internal audit department are professionals in the
Economic Sciences area and are highly qualified in internal audit,
ethics, risk management and compliance. The Company has a training
budget for the department and selects first level entities and
universities for the necessary training activities. Moreover, all
the members of the internal audit department are members of the
Institute of Internal Auditors (IAIA) and the Argentine Ethics
Association and Compliance. The internal audit department is
independent from management and it reports directly to the
Supervisory Audit Committee and the General
Management.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
generally accepted internal audit regulations shall be complied
with, which regulations are included in the Internal Audit Policy,
identified as PD AU-001. Such document details the internal audit
department&#x2019;s functions, assigns roles and responsibilities
and develops an internal audit methodology.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Its
specific responsibilities are the following, among
others:</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To review the
reliability and the integrity of the Company&#x2019;s operative
information and the procedures implemented to identify, measure,
classify and disclose such information</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To review the
systems established to ensure compliance with such policies, plans,
procedures, laws and regulations that may have an important effect
on the operations and reports of the Company, as well as to
determine if such complies with them</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To review the means
used to safeguard and verify the existence of the Company&#x2019;s
assets</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">To review the
operations or programs so as to verify whether they were carried
out as per the plans</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">17</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
7.3. <font style="text-decoration: underline">External
Auditors</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company shall hire highly qualified independent external auditors
that provide higher reliability to the financial information and
other type of information issued by the Company to external users,
according to generally accepted audit standards.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><a name="_Toc67249050"><!--anchor--></a>7.4. <font style="font-variant: small-caps; text-decoration: underline">Independence
criteria of external auditors</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">External
auditors shall comply with the independence conditions established
by Technical Resolution No. 34 of FACPCE, and in all other
regulations that the authorities controlling the professional
license may introduce, as well as those stated in CNV and SEC
Regulations.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">For all
the services obtained from the external auditor, the Supervisory
Committee shall consider if such services comply with SEC and CNV
Regulations.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249051"><!--anchor--></a>7.5.
<font style="text-decoration: underline">Remuneration</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
remuneration of the Statutory Audit Committee&#x2019;s members shall
be determined at the Shareholders&#x2019; Meeting.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Should
the internal audit tasks be performed by employees, such will be
part of the obligations of the Company&#x2019;s personnel and the
remuneration shall be the one established in the Employment
Contract.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
remuneration of external auditors shall be annually determined and
approved by the Board of Directors, the Supervisory Committee and
at the Shareholders&#x2019; Meeting, as appropriate.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249052"><!--anchor--></a>8.
Policies of risk control and management</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Control
policies are oriented to the prevention during the management of
social business and the development of the Company&#x2019;s
activities and the posterior verification of such regarding the
correct use of human, material and financial resources of the
Company.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
objectives of such policies are the following:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Effectiveness and
efficiency of the operations</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Reliability of
financial and management reports</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 36px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Compliance with
applicable legal, bylaws and internal regulations</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">So as
to achieve the outlined objectives, a risk evaluation shall be
carried out at least once a year. It shall analyze the variety of
risks the Company faces, from external and internal sources. The
General Management together with first level managers shall perform
this analysis before the preparation of the Business Annual Plan,
and they shall prepare a Risk Map weighing each of them by Impact
and Occurrence Probability.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
conclusion, the policies are oriented to achieving the
Company&#x2019;s goals regarding the performance and economy of
resources, the prevention of loss of them and to ensure reliable
financial reports.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">18</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">All
Policies are dully disclosed and communicated to the personnel by
different means.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249053">
<!--anchor--></a>9.&#xA0;</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
PROCEDURES</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249054"><!--anchor--></a>9.1.
<font style="text-decoration: underline">Handling of confidential
information</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">At all
times, the Company shall focus on the protection of confidential
information. This shall also be the responsibility of all its
personnel.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Employees,
managers, directors and members of the Statutory Audit Committee of
the Company have been taught regarding the duty of confidentiality
that they must follow regarding the information and/or
documentation bearing such character that they may
receive.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">This
duty of confidentiality shall not be applied when the disclosure of
confidential information and/or documentation is mandatory in
accordance with the regulations and laws in force, or when such is
required by a judicial and/or administrative authority with
sufficient powers in that regard.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
<a name="_Toc67249055"><!--anchor--></a>9.2.
<font style="text-decoration: underline">Purchase and sale of
shares and securities</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><a name="_Toc67249056"><!--anchor--></a>The company has an Insider
Trading Policy.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><a name="_Toc67249057"><!--anchor--></a>9.3. <font style="font-variant: small-caps; text-decoration: underline">Inquires and
Complaints</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company has a Complaint Treatment Policy, which is an integral part
of the Integrity Program.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">19</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.7
<SEQUENCE>8
<FILENAME>cepu_item7.htm
<DESCRIPTION>ENGLISH TRANSLATION OF GENERAL RESOLUTION NO. 797 OF THE ARGENTINE SECURITIES COMMISSION SUBMITTED TO THE ARGENTINE SECURITIES REGULATOR
<TEXT>
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<font style="font-size: 13px">&#xA0; <font style="font-family: Times New Roman; font-size: 16px;"><font style="font-weight: bold">Exhibit 7</font></font><br></font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 16px">
EXHIBIT III</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 16px">
General Resolution No. 797 of the Argentine Securities
Commission</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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A) DUTIES OF THE BOARD OF DIRECTORS</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Principles</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">I.</font> The company shall be led by a
professional and trained Board of Directors, which shall be in
charge of founding the bases necessary to ensure the sustainable
success of the company. The Board of Directors is the guardian of
the company and of the rights of all its Shareholders.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">II.</font> The Board of Directors shall be in
charge of determining and promoting corporate culture and values.
In its performance, the Board of Directors shall ensure compliance
with the highest ethical and integrity standards in the best
interest of the company.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">III.</font> The Board of Directors shall be in
charge of ensuring a strategy inspired in the vision and mission of
the company, which shall be aligned with its values and culture.
The Board of Directors shall be constructively involved with
management to ensure the correct development, execution, monitoring
and change of the company&#x2019;s strategy.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">IV.</font> The Board of Directors shall exert
permanent control and supervision of the company&#x2019;s
management, ensuring that management takes actions directed at the
implementation of the strategy and business plan approved by the
Board of Directors.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">V</font>. The Board of Directors shall count
with the necessary mechanisms and policies to perform its duties
and the ones of each of its members in an efficient and effective
way.</font></div>
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Recommended Practice (&#x201C;RP&#x201D;) 1. The Board of Directors
generates a work ethics culture and establishes the vision, mission
and values of the company.</font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">Central
Puerto S.A. Board of Directors (hereinafter, the
&#x201C;<font style="text-decoration: underline">Company</font>&#x201D;
or <font style="text-decoration: underline">&#x201C;CPSA</font>&#x201D;
indistinctly) approved the following: <font style="font-weight: bold">a)</font> the <font style="text-decoration: underline; color: #000000">Code of Corporate
Governance</font> (&#x201C;<font style="text-decoration: underline">CGS</font>&#x201D; for its acronym in
Spanish) 10/3/2017, which was updated on 27/12/2018 and 10/03/2020,
and <font style="font-weight: bold">b)</font> the Integrity Plant
(the &#x201C;<font style="text-decoration: underline">Program</font>&#x201D;) dated
13/8/2018, which includes the <font style="text-decoration: underline; color: #000000">Code of Corporate
Governance</font> (&#x201C;<font style="text-decoration: underline">CDCE</font>&#x201D;).</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman; font-size: 16px"><font style="font-size: 13px">The CDCE is the result of the good practices
directors, managers, heads and all the personnel must follow when
performing their business operations and during the development of
their activities. Among these, the following stand out: (I) the
relationship with clients, shareholders, suppliers, the public
sector and employees; (ii) intellectual and industrial property,
and proprietary information; and (iii) conflict of
interest.</font></font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">A
printed copy of the CDCE was distributed to the employees, and it
is also published in the Company&#x2019;s intranet and
website.</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">CPSA has defined the mission,
vision and values, which are described as
follows:</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="text-decoration: underline">Mission:</font> To produce electrical
energy in an effective and efficient way, contributing to the
supply of electrical demand with quality, and managing business in
a way so as to create value for the Company as well for society, in
a sustainable way and in harmony with the
environment.</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="text-decoration: underline">Vision:</font> To be recognized as the
leading company in the production of electrical energy in
Argentina, for its participation in the market, and for the
excellence in the operation and profitability. To accompany the
technological evolution of the industry at the national, regional
and world level, adapting its asset portfolio to such
evolution.</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="text-decoration: underline">Values</font>: a) To manage the
quality of its processes to ensure an adequate availability,
reliability and safety in the production of its generation units so
as to satisfy its clients requirements, b) To manage safety and
health at work preserving the integrity of people and its goods and
of third parties&#x2019;, c) To develop an environmental management
aimed at the sustainable development, d) To maximize the value of
its shareholders investment in a sustainable way in time, as well
as having in mind the general responsibilities of the Company, e)
To promote the development of its human capital, not only as better
professionals but also as better persons.</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">RP 2. The Board
of Directors sets the general strategy of the company and approves
the strategic plan developed by management. Doing so, the Board of
Directors takes into consideration environmental, social and
corporate governance factors. The Board of Directors supervises its
implementation through the use of key performance indicators and
taking into account the best interest of the company and all its
shareholders.</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">The Company&#x2019;s general
policies and strategies are approved by the Board of Directors. The
Board of Directors considers and approves the Annual Business Plan
(&#x201C;<font style="text-decoration: underline">Annual
Plan</font>&#x201D;), which is prepared by the general management
and involves control policies on the handling of Company&#x2019;s
matters; an annual budget; operations and mechanisms planning to
control the performance of the general management and the
compliance with objectives.</font></font></div>
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<font style="font-size: 13px"><font style="font-size: 12px"><font style="font-family: Times New Roman;">In
the Performance Reports (the &#x201C;<font style="text-decoration: underline">Performance Reports</font>&#x201D;),
the evolution of the Annual Plan is
presented.</font></font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">To such
end, the Board of Directors meets to consider the Performance
Report for each month or previous months, as appropriate. Moreover,
in such meetings, the decisions central to the Company&#x2019;s
management are taken, compliance with set objectives are assessed
and reviewed; and, if necessary, the deviations from the approved
budget. Monitoring of the different business variables, such as
economic, financial and environmental, as well as the consideration
of the reports made by the external and/or internal auditors and/or
hired consultants, is part of this analysis.</font></div>
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RP 3. The Board of Directors supervises management and ensures that
it develops, implements and keeps an adequate internal control
system with clear report lines.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">The
Board of Directors verifies the General Management&#x2019;s
performance and compliance with the goals set when considering the
Performance Reports and the approval of CPSA&#x2019;s Financial
Statements. Under the supervision of the Supervisory Committee, the
General Management, together with Managers and the Company&#x2019;s
employees, has implemented a robust and effective internal control
system under COSO (<font style="font-style: italic">Committee of
Sponsorship Organization of the Treadway</font>) parameters and
standards, so as to provide a reasonable safety degree regarding
the pursuit of objectives within the following categories: Efficacy
and efficiency of operations; Reliability of the financial
information and Compliance with laws, regulations and standards
applicable.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">All the
financial origin information reviewed, discussed and approved by
the Board of Directors is based on safety, reliability and
robustness provided by COSO framework.</font></div>
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RP 4. The Board of Directors designs the structures and the
practices of corporate governance, appoints the responsible one for
its implementations, it monitors their effectiveness and suggests
changes, should they be necessary.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">The
Company&#x2019;s Board of Directors approved the CGS (Code of
Corporate Governance, which includes the structures and practices
of corporate governance), making the adaptations it considered
necessary and appropriate; and it has annually considered the CGS
Code, as the General Resolution No. 622/2013 of the Argentine
Securities Commission (&#x201C;<font style="text-decoration: underline">CNV</font>&#x201D;).</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">As per
decided at the Board of Directors&#x2019; meeting on March 10, 2020,
the Board of Directors has appointed the person to act as Manager
of the Company&#x2019;s Legal Counseling giving him the duties of
Corporate Secretary of the Company, who will implement and monitor
the effectiveness of the corporate governance practices through the
revision and updating of the Corporate Governance Code and the
Report stated in CNV General Resolution No. 797/19, as well as to
ensure its compliance with the exercise of its duties as described
in answer to RP 9 and 14. The Legal Counseling Manager is also the
Head of Market Relations, under the terms of Law No. 26 831 and CNV
Regulations.</font></div>
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RP 5. The members of the Board of Directors have enough time to
exercise their duties professionally and efficiently. The Board of
Directors and its committees have clear and formalized rules for
its functioning and organization, which are spread through the
Company&#x2019;s website.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">The
members of the Board of Directors are recognized people in the
business area and have extensive experience, as well as knowledge
and proper professional training for the performance of their
duties.</font></div>
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<font style="font-family: Times New Roman; font-size: 16px"><font style="font-size: 13px">
The members of the Board of Directors have a high level of
attendance to the Board of Directors&#x2019; and Committee Meetings
they participate in. The functioning rules of the Board of
Directors are established in the Company&#x2019;s <font style="text-decoration: underline; color: #000000">Bylaws</font>, which
is published on the Company&#x2019;s website and in the Argentine
Business Entities Act.</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Regarding
the functioning of the Supervisory Committee, the Board of
Directors approved the Supervisory Committee Internal Regulations
on 9/5/2003. And it was amended on 5/3/2015 and 5/8/2015. The
Internal Regulations were promptly submitted before the
CNV.</font></div>
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B) CHAIR IN THE BOARD OF DIRECTORS AND CORPORATE
SECRETARIAT</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Principles</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">VI.</font> The Chairman of the Board of
Directors is in charge of ensuring effective compliance with the
duties by Board of Directors and of leading its members. The
Chairman must generate a positive work dynamics and promote the
constructive participation of the Boards&#x2019; members, as well as
ensuring the members count with the necessary elements and
information for taking decisions. Such also applies to the Chairs
of each Board of Directors&#x2019; Committee regarding the task
under their scope.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">VII.</font> The Board of Directors&#x2019;
Chairman shall lead processes and establish structures searching
for commitment, objectivity and competition among members of the
Board of Directors, as well as the improvement of the bodies&#x2019;
functioning in its entirety and its evolution as per the needs of
the company.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">VIII</font>. The Board of Directors&#x2019;
Chairman shall ensure that the Board of Directors in its entirety
is involved and responsible for the general manager&#x2019;s
succession.</font></div>
&#xA0; <font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
</td>
</tr></table>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 6. The Chairman of the Board of Directors is responsible for the
good organization of the Board of Directors&#x2019; meetings, the
preparation of the agenda -ensuring the collaboration form the rest
of the members and ensuring that they receive the materials in a
timely manner so that they can participate in an efficient and
informed way in the meetings. The Committees&#x2019; Chairmen have
the same responsibilities for their meetings.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">CPSA&#x2019;s
Chairman, as per CGS, defines the Agenda for the Board of
Directors&#x2019; Meetings, in which all the matters whose
consideration has been requested by the general manager or other
directors are included.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Chairman, through the Corporate Secretary of the Company, ensures
that the Directors receive the information and the documentation
necessary for the consideration and decision of the matters to be
considered.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
<a name="_Hlk32417597"><!--anchor--></a>RP 7. The
Board of Directors&#x2019; Chairman ensures the correct internal
functioning of the Board of Directors through the implementation of
formal procedures of annual assessment.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Up to
date, the Company has not implemented a formal annual assessment
since in accordance with the Argentine Business Entities Act, it is
at the Shareholders&#x2019; Meeting that the Board of
Directors&#x2019; performance is annually assessed. The results of
the Board of Directors&#x2019; performance are annually presented on
the Company&#x2019;s Annual Report and, regarding the Supervisory
Committee, through the Supervisory Committee&#x2019;s Annual Report,
which is considered by the Company&#x2019;s Board of Directors.
Moreover, and at least quarterly, the Company&#x2019;s performance
and indirectly the Board of Director&#x2019;s performance are
evaluated on the Performance Report.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Notwithstanding
the foregoing, during the ongoing period, the implementation of
annual assessment procedures will be proposed.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 8. The Chairman generates a positive and constructive working
space for all the members of the Board of Directors and ensures
they receive continuous training to keep updated and to comply with
their duties correctly.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Chairman of the Board of Directors generates a positive and
constructive working space for all the members of the Board of
Directors. The directors of the Company, even outside the meetings
of the Board, shall be kept informed about the business of the
Company. To that end, they may have conversation with the Chairman,
other directors, the General Manager and the internal and external
auditors, being able to exchange different opinions and/or
inquiries in such regard. Moreover, the directors revise the
material they receive for the Board of Directors&#x2019; meetings so
that they can prepare themselves in advance for the meetings and
even make inquiries to the general management or to the different
managers that correspond.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">As
needs in the Company appear, as well as needs regarding the
directors&#x2019; role and responsibility, the training of the
members of the Board of Directors is defined. Such training may be
entrusted to external counselors or internally to the
Company&#x2019;s personnel. As an example, during the period ended
December 31, 2019, the Directors received training regarding the
Corporate Criminal Responsibility Act.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 9. The Corporate Secretariat supports the Board of
Directors&#x2019; Chairman in the effective administration of the
Board and collaborates in the communication among shareholders, the
Board of Directors and management.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In the
meeting dated March 10, 2020, the Company&#x2019;s Board of
Directors appointed the Company&#x2019;s Legal Counseling Manager as
Corporate Secretary of CPSA, being his main duty to assist the
Company&#x2019;s Chairman in the effective administration of the
Board of Directors, collaborating with the communication among
shareholders, the Board and management.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Regarding
shareholders, the Corporate Secretary is responsible for the
Company&#x2019;s complying with the regulations in force,
particularly through the communication to the Market of the
relevant facts and through making available the information and
documentation in every Shareholders&#x2019; Meeting. The individual
performing the Corporate Secretary&#x2019;s duties is also
responsible for Market Relations, acting in coordination with the
Investor Relations Officer.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Corporate Secretary acts also as a link between the Company&#x2019;s
Board of Directors and management, providing the Board and the
Supervisory Committee with the information and the documentation
required to all the areas of CPSA&#x2019;s management, whether
in-person, by telephone, email or videoconferences.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Corporate Secretary collaborates with the Company&#x2019;s Chairman
and acts as link between this and the General Manager, in the
coordination of CPSA&#x2019;s Board of Directors&#x2019; Meetings
both regarding call; periodicity; definition of the Agenda of each
of the meetings, presenter of each matter, sending of information
and documentation to directors and statutory auditor, attendance of
directors and statutory auditors to meetings, quorum calculation
and voting, drafting and sending of minutes to directors, recording
to the corresponding Minutes Book and subsequent
signature.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Moreover,
the Corporate Secretary is responsible for coordinating and making
the orientation plan for the new directors of the
Company.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 10. The Board of Directors&#x2019; Chairman ensures the
participation of all its members in the development and approval of
a succession plan for the Company&#x2019;s General
Manager.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">During
the meeting held on March 10, 2020, the Company&#x2019;s Board of
Directors approved appointing CPSA&#x2019;s <font style="font-style: italic">Chief Operating Officer</font>
(&#x201C;COO&#x201D;) as successor of the Company&#x2019;s General
Manager.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Within
the Company&#x2019;s management organization chart, he currently has
under his charge the operation and trade duties of CPSA&#x2019;s
management, reporting directly to the Company&#x2019;s General
Manager.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company will assess the implementation of a succession
plan.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
C) FORMATION, APPOINTMENT AND SUCCESSION OF THE BOARD OF
DIRECTORS</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%; border-bottom: solid 2px #000000">
<!--Rule Below Paragraph--></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; margin: 0 auto;width: 100%;; font-family: inherit; font-size: inherit">
<tr>
<td style="width: 100%; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
<div><font>&#xA0;</font></div>
<div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Principles</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">IX.</font> The Board shall count with adequate
independence and diversity levels allowing it to take decisions in
the best interest of the company, avoiding group thinking and
individual or dominant group decision taking within the
Board.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">X. The
Board of Directors shall ensure that the company counts with formal
procedures for the proposal and nomination of candidates to fill
positions in the Board within a succession plan.</font></div>
&#xA0; <font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">RP
11. The Board has, at least, two members having an independent
capacity as per the criteria in force established by the Argentine
Securities Commission.</font>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Currently,
the Company&#x2019;s Board of Directors has 3 (three) independent
directors.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">As it
stems from the Bylaws, the Company&#x2019;s direction and management
shall be in charge of a Board of Directors formed by 11 (eleven)
directors and the same number or lower of deputy directors, as the
Shareholders&#x2019; Meeting may fix.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In that
regard, the following is established as the Company&#x2019;s policy:
that the independent directors&#x2019; proportion in the Board of
Directors shall be, at least, one third of the total members of the
Board of Directors.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 12. The Company has a Nominations Committee, which is formed by
at least 3 (three) members and is led by an independent director.
In case of leading the Nominations Committee, the Board of
Directors&#x2019; Chairman shall abstain from participating in the
appointment of its own successor.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company does not have a Nominations Committee since it considers
that the proposal of authorities for election should not stem from
the Company proper so as to make the election have an independence
line. Therefore, it gives it shareholders the proposal duty over
the list. This way, there are no suggestions from the Board that
may influence in the Shareholders&#x2019; decision. Consequently,
the election and appointment of the members of CPSA&#x2019;s Board
of Directors is reserved to the exclusive decision of its
shareholders as per the Company&#x2019;s Bylaws and the Argentine
Business Entities Act No. 19 550.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 13. The Board of Directors, through the Nomination Committee,
develops a succession plan for its members, which plan guides the
candidates preselection procedure to fill positions and takes into
consideration non-binding recommendations made by its members, the
General Manager and Shareholders.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
shareholders choose Deputy Directors, which shall replace Directors
as per the Company&#x2019;s Bylaws and the provision of the
Argentine Business Entities Act No. 19 550.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">CPSA,
both through the Employment Policy and the <font style="text-decoration: underline; color: #000000">Code of Business
Conduct</font>, grants full equal job opportunities to people
qualified to perform a task, without taking into account race, sex,
religion or origin, or other differentiation factor beyond the ones
determined by law. All persons complying with the eligibility
requirements for the positions they aspire to shall have the same
level of opportunities in all the aspects of the employment
relationship, including recruitment, hiring, promotions, transfers,
compensation levels, selection for training and development, and
employment termination. CPSA is committed to promote gender and
opportunity equality to promote diversity and integration of all
the work team and personnel. Therefore, CPSA considers that
diversity produces positive results at human level and a means to
comply with its principles, such as integrity and team work. To
that end, it expresses these values in its annual report and the
Code of Corporate Governance so as to guide, but not influence, its
Shareholders&#x2019; decisions. In line with the abovementioned, as
stated in the previous item, the Company does not have a
Nominations Committee proposing candidates so as not to influence
through suggestions to Shareholders, who are in charge of making
proposals to the Shareholders&#x2019; Meeting and approve them among
their pairs with full independence from the Board of Directors and
fully involved in carrying out the best election to guarantee
-among them- the Company&#x2019;s way, and ensuring the separate
effective functioning of each corporate body.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 14. The Board of Directors implements a guidance program for its
new members elected.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In the
meeting dated March 10, 2020, the Company&#x2019;s Board of
Directors approved a guidance plan for the new directors elected
exercising their duties as Directors of the Company for the first
time.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Corporate Secretary is in charge of coordinating with the new
directors, the date and hour in which the guidance plan shall
commence in the Company&#x2019;s offices. On such date, the new
directors attending the Company&#x2019;s address are received by the
Company&#x2019;s General Manager together with the Corporate
Secretary and different managers of CPSA, who will consider the
following matters:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Information
regarding the company&#x2019;s structure and its organizational
culture-</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Personal
information of the directors so as to form the file of each of the
new directors, being able to carry out the corresponding procedures
before supervision entities, including but not limited to the
Argentine Securities Commission, Bolsas y Mercados Argentinos S.A.,
the Buenos Aires Stock Exchange, Caja de Valores [Argentine
Securities Central Depositary], Business Entities Registry for the
City of Buenos Aires, the Security Exchange Commission, and any
other competent supervisory entity.</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Corporate
Secretary informs on relevant aspects of Corporate Governance, such
as the main items on the Code of Corporate Governance; general
regulation on the functioning of the Board of Directors and
Shareholders&#x2019; Meeting; the development of the Board of
Directors&#x2019; meetings; the functioning of the Supervisory
Committee; among others.</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Environmental
Counselor informs regarding the Quality (ISO 9001) and
Environmental (ISO 14001) Management System. The necessary concepts
for the improvement of the environment and of quality shall be
informed so as to raise more awareness in the new directors on the
Company&#x2019;s policies regarding optimization of water, energy,
paper and waste.</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Health and
Safety Area shall be the one informing the new officer regarding
the precautions needed to avoid work accidents and shall deliver
the Basic Health and Safety Standards.</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">f)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Company&#x2019;s
Internal Auditor makes a general presentation on the existent
control structure in the Company, as well as of the internal and
external audit system. Moreover, it informs the general guidelines
of the following documents: (I) Code of Business Conduct; (ii) the
Integrity Plan; (iii) Anti-Fraud Policy; (iv) Insider Trading
Policy; (v) Procedure for treatment of complaints.</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">g)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Corporate
Secretary shows the new directors the meeting room in which the
Board of Directors&#x2019; Meetings shall be held and coordinates a
tour around the plant.</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">h)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Corporate
Secretary evidences the delivery of the following documents to the
Directors: (i) Bylaws, (ii) Code of Corporate Governance, (iii)
Code of Business Conduct, (iv) Insider Trader Policy<font style="font-style: italic">,</font> (v) Anti-Fraud Policy, (vi) Treatment
procedure of complaints to infringement of CDCE, (vii) Gift Policy,
(viii) Policy of Relations with the Public Sector, (ix) Policy of
hospitality and presents procedure, (x) Transactions Policy with
Related Parties, and (xi) Integrated Policy of Environment, Quality
and Occupational Safety. And</font></div>
</div>
</div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">It is informed that
the Company&#x2019;s website includes such financial and
non-financial information, and whose spreading is required by the
Argentine Securities Commission; the Buenos Aires Stock Exchange,
the Security Exchange Commission and the New York Stock
Exchange.</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
presentation of the new directors is made in the first Board of
Directors&#x2019; meeting to which they attend.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">9</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
D) REMUNERATION</font></div>
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<!--Rule Below Paragraph--></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; margin: 0 auto;width: 100%;; font-family: inherit; font-size: inherit">
<tr>
<td style="width: 100%; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
<div><font>&#xA0;</font></div>
<div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Principles</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XI.</font> The Board of Directors must create
incentives through remuneration in order to align Management
&#x2013; presided by the General Manager &#x2013; and the Board of
Directors itself with the long-term interests of the Company so
that all Directors comply with their obligations regarding all the
shareholders equally.</font></div>
&#xA0; <font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
15. The Company has a Remuneration Committee formed by at least
three (3) members. Members are completely independent or
non-executive.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Nowadays,
the Company has a Remuneration Committee, which is formed by the
General Manager, the Human Resources Manager and the Chairman of
the Board of Directors.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
remunerations of the members of the Company are fixed and updated,
based on the evolution of inflation and the salaries in the general
energy market. If an increase for performance is requested, the
Remuneration Committee gathers and evaluates the application in
order to define whether it is feasible based on the
background.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 16. The Board of Directors, through the Remuneration Committee,
sets forth a remuneration policy for the General Manager and the
members of the Board of Directors.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
fees of the Directors of the Company are approved during the
Shareholders&#x2019; Meetings. The global amount of the fees in no
case shall exceed the limits established by the Argentine Business
Entities Act and CNV regulations.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Board of Directors defines the advance payment of fees of
Directors, and the percentage increase of the monthly remuneration
of the General Manager, as this is different from the regular
percentage adjustment for the Company&#x2019;s
employees.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">As
established by the Code of Corporate Governance of the Company, the
remuneration levels must be sufficient to lure and retain competent
directors.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
remunerations of the members of the Company are fixed and updated
based on the evolution of inflation and the salaries in the general
energy market. If an increase for performance is requested, the
Remuneration Committee gathers and evaluates the application in
order to define whether it is feasible based on the
background.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">10</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
E) CONTROL ENVIRONMENT</font></div>
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<!--Rule Below Paragraph--></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; margin: 0 auto;width: 100%;; font-family: inherit; font-size: inherit">
<tr>
<td style="width: 100%; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
<div><font>&#xA0;</font></div>
<div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Principles</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XII.</font> The Board of Directors must ensure
the existence of a control environment, formed by internal controls
developed by Management, internal audit, risk management,
regulatory compliance and external audit, which sets forth the
lines of defense necessary to ensure the integrity of the
company&#x2019;s operations and its financial reports.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XIII.</font> The Board of Directors must ensure
the existence of an integral risk management system, which enables
Management and the Board of Directors to direct the company
efficiently towards its strategic goals.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XIV.</font> The Board of Directors must ensure
the existence of a company or department (based on the size and
complexity of business, the nature of its operations and the risks
it faces) in charge of the internal audit of the company. This
audit must be independent and objective in order to assess and
audit the internal control, the corporate governing processes and
the risk management of the company, and it must have
clearly-established report lines.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XV.</font> The Supervisory Committee of the
Board of Directors shall be formed by qualified and experienced
members and must comply with its duties in a transparent and
independent manner.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XVI.</font> The Board of Directors must
establish proper procedures to safeguard the independent and
effective performance of the External Auditors.</font></div>
&#xA0; <font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
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</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 17. The Board of Directors shall determine the level of risk
that the company wants to face and it also supervises and ensures
the existence of a comprehensive management risk system which
identifies, evaluates and decides on the course of action and
monitors the risks the company faces, including but not limited to,
environmental, corporate risks and such risks inherent to the
business in the short and long term.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
General Management and the Vice-Chairman of the Company, prior to
the commencement of the Budget Process, carry out an analysis of
the risks of the industry, including the consideration per
occurrence probability and economic impact. It is delivered to
Senior Management, who analyzes, proposes and discusses the
content. Strategic, operational, financial, regulatory and
compliance risks are reviewed. Once they are reviewed and discussed
in person, a document is drafted with the analysis and final
consideration from which the budget and the Annual Plan are
prepared. The Board of Directors considers and approves the
business Annual Plan, which is updated with the monthly
presentation of the Company&#x2019;s management
reports.</font></div>
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</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">At
least once during the fiscal period, the General Manager and the
Vice-Chairman of the Company will review and update the Risks Stock
and its consideration with Senior Management
(Monitoring).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 18. The Board of Directors monitors and reviews the
effectiveness of the independent internal audit and ensures the
resources for the implementation of an annual audit plan based on
the risks and a direct report line to the Supervisory
Committee.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company has an internal audit department with a direct report line
to the Supervisory Committee and General Manager. The Board of
Directors delegates to the Supervisory Committee the activities of
approval of an Annual Audit Plan, the monitoring of its
implementation, its effectiveness, the allocation of resources for
its performance. The Audit Plan sets forth audit and compliance
activities which are carried out by the audit department, and it is
prepared based on the risks considered by impact and occurrence
probability.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Annually,
the Board of Directors evaluates: a) the Annual Report for the
previous period and b) the Action Plan for the ongoing period, both
prepared by the Supervisory Committee.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 19. The internal auditor or the members of the internal audit
department are independent and highly qualified.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">All
members of the internal audit department are professionals in the
field of Economic Sciences and are highly qualified in the matters
of internal audit, ethics, risk management and compliance. The
Company has a training budget for the department and selects
first-level entities and universities for the necessary training
activities. In addition, all members of the internal audit
department are members of the Internal Auditors Institute (IAIA)
and the Argentine Association of Ethics and Compliance. The
internal audit department is independent from Management and they
report directly to the Supervisory Committee and General
Management.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 20. The Board of Directors has a Supervisory Committee, which
acts pursuant to its regulations. The Committee is mostly formed
and presided by independent directors, and it does not include the
General Manager. Most of its members have professional experience
in the financial and accounting fields.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Board of Directors has a Supervisory Committee, which acts pursuant
to its regulations duly approved by the Board of Directors and
submitted before the CNV. Such regulations set forth the purpose of
the Committee and its functions, which include among others: a) to
provide their opinion regarding the appointment of external
auditors to be hired by the Company and to safeguard their
independence; b) to supervise the functioning of the internal
control systems and the administrative-accounting system, as well
as its reliability and to supervise all the financial information
submitted before the CNV and the markets, pursuant to the
applicable Informative Regime; c) to supervise the application of
policies regarding the risk management of the Company; d) to
provide their opinion regarding the reasonability of the fees and
option plans proposals on the shares of CPSA directors and
administrators made by the governing body; e) to provide their
opinion regarding compliance with legal obligations and the
reasonability of the conditions of the issue of shares and
convertible securities into shares, in case of capital increase
which excludes or limits the right of preference; f) to verify
compliance with the applicable conduct regulations; g) to provide a
justified opinion regarding the operations with related parties in
the cases established by Law no. 26 381 and CNV Regulations and
pursuant to the provisions set forth by the Policy of transactions
by related parties; h) to provide a justified opinion pursuant to
the provisions of CNV when there exists or there may exist a
conflict of interest in the Company. Annually, the Supervisory
Committee must prepare an Action Plan for the period under
consideration, which must be approved by the Board of Directors of
the Company.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Supervisory Committee is formed by three directors, most of whom
must be independent. One of the members of the Supervisory
Committee is appointed financial expert.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 21. The Board of Directors, upon the opinion of the Supervisory
Committee, approves a policy of selection and monitoring of
external auditors, which establishes the indicators that must be
considered when providing the recommendation to the Shareholders
Meeting regarding keeping or replacing the external
auditor.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Supervisory Committee provides its opinion regarding the
appointment of the external auditors to be hired by the Company and
safeguards their independence. In addition, the Supervisory
Committee must consider whether such services comply with the SEC
and CNV regulations.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Supervisory Committee shall annually perform an evaluation of the
commitment, the efficiency and independence of the work of the
external auditor. Moreover, the Supervisory Committee considers if
such services comply with SEC AND CNV regulations. Annually, the
Supervisory Committee shall annually evaluate the commitment,
efficiency and independence of the external auditor&#x2019;s
performance. This revision shall be made from the information
provided by the different Managing departments of the Company,
which interact with the external auditors and have the necessary
knowledge in order to define their compliance based on the
parameters exposed. Then, it will be presented as a report to the
Supervisory Committee for the consideration of the Board of
Directors.</font></div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
F) ETHICS, INTEGRITY AND COMPLIANCE</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left">
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<tr>
<td style="width: 100%; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
<div><font>&#xA0;</font></div>
<div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Principles</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XVII.</font> The Board of Directors must design
and establish appropriate structures and practices to promote a
culture of ethics, integrity and compliance with the regulations
that prevent, detect and address corporate failures or serious
personal failures.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XVIII.</font> The Board of Directors shall
ensure the establishment of formal mechanisms to prevent, or
otherwise, deal with any conflict of interest that may arise in the
administration and management of the company. The company must have
formal procedures that aim at ensuring that the transactions
between related parties are carried out in the best interest of the
company and the equal treatment of all its
shareholders.</font></div>
&#xA0; <font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;<br>
</font></div>
<br>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 22. The Board of Directors approves a Code of Ethics and Conduct
which reflects the values and principles of ethics and integrity,
as well as the culture of the company. The Code of Ethics and
Conduct is communicated and applicable to all directors, managers
and employees of the Company.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Integrity
is understood as a key value for performing commercial activities.
It expects all the personnel of the Company to act with loyalty,
honesty, transparency and strictly complying with the legislation
and the national and international regulations which apply to the
Company. Therefore, the Company has developed an Integrity Plan,
which has been duly approved by the Board of Directors. Nowadays,
the Integrity Plan is formed by the Code of Business Conduct
(CDCE), and different policies and procedures.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
CDCE is the result of good practices that the directors, managers,
heads and the whole personnel must comply with in the course of
business operations and the development of their activities. In
that regard, the CDCE contains: <font style="font-weight: bold">a)</font> general principles, including but not
limited to: a) the relationship with clients, shareholders,
suppliers and employees; and b) principles of individual behavior,
which include: i) health and hygiene, industrial safety and
environment; ii) safety of people, documentation and equity; iii)
relationship between employees; iv) harassment; v) relationship
between clients and suppliers; vi) relationship with public sector;
vii) confidentiality; viii) intellectual and industrial property;
ix) conflict of interest; x) privileged information; and xi)
politics in the field of the Company; xii) employment of electronic
means and systems of the Company; xiii) accounting records and
procedures; xiv) fraud, acts contrary to the CDCE and the channel
to report claims.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Employees
receive a printed copy of the CDCE and it is published both in the
intranet of the Company and in the website of the Company. In the
context of the Orientation Plan for new directors, a copy of the
CDCE is provided.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 23. The Board of Directors establishes and periodically reviews
the dimension and economic capacity of an Ethics and Integrity Plan
based on the risks. Management visibly and unequivocally supports
the Plan, and appoints an internal employee responsible for the
development, coordination, supervision and evaluation of the Plan
regarding its efficiency on a regular basis. The Plan establishes
the following: (i) regular trainings for the directors,
administrators and employees on matters of ethics, integrity and
compliance; (ii) internal channels to report complaints, open to
third parties and properly disseminated; (iii) a protection policy
against retaliation; and an internal investigation system that
respects the rights of the persons under investigation and imposes
effective penalties to the breach of the Code of Ethics and
Conduct; (iv) integrity policies in competitive processes; (v)
mechanisms for the regular analysis of risks, monitoring and
assessment of the Plan; and (vi) procedures that confirm the
integrity and trajectory of third parties or business parties
(including due diligence for the verification of irregularities,
torts or the existence of vulnerability during corporate
transformation and acquisitions), including suppliers,
distributors, service providers, agents and brokers.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Board of Directors establishes and periodically reviews the
dimension and economic capacity of a Plan based on risks. The Board
of Directors appoints an internal employee of the Company who is in
charge of the development, coordination and supervision of the Plan
as Compliance Officer. The Compliance Officer regularly reports to
the Supervisory Committee about the progress of the Plan and its
efficiency. From the approval of the Plan by the Board of
Directors, the Compliance Officer is responsible for its
coordination, supervision and compliance, and he shall report: (i)
on a regular basis, to the Supervisory Committee regarding the
follow-up of its implementation and any news about the compliance
with the Plan; and (ii) to the Board of Directors, upon its request
or when the circumstances require so.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Supervisory Committee periodically requires from the Compliance
Officer a report on the implementation of the Plan. Nowadays, this
Plan is formed by a Compliance Risk Mapping and, in addition to the
CDCE, different policies which include, among others: a) Anti-fraud
Policy; b) Hospitality and presents Policy; c) Gifts Policy; d)
Insider Trading Policy (use of proprietary information), e) Policy
of relations with the public sector. Moreover, the Company has a
Treatment Policy of Reports of Breach of the CDCE, which can be
delivered through mailboxes installed in the Company, e-mail,
intranet or through a hired service specialized in complaints
management. A Training Program is part of the Plan.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 24. The Board of Directors ensures the existence of formal
mechanisms to prevent and deal with conflicts of interest. In the
case of transactions between related parties, the Board of
Directors approves a policy which establishes the role of each
corporate body and defines how to identify, administer and disclose
such transactions detrimental to the Company or just to some
investors.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">15</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Through
the CDCE, which is part of the Plan, the Company has implemented
effective mechanisms to facilitate the prevention, handling and
disclosure of conflicts of interest that may arise between
shareholders, key executives, stakeholders and members of the Board
of Directors, and among them. Directors may contract with the
Company only in relation to the activities included in its
corporate purpose and market conditions, pursuant to Law no. 26 831
and CNV regulations.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company has a Policy of Transactions with Related Parties, which
has been approved by the Supervisory Committee. In addition, the
Internal Audit area monitors compliance with the aforementioned
policy, and in case an operation outside these parameters is
detected, it is reported to the Supervisory Committee.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">16</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
G) PARTICIPATION OF SHAREHOLDERS AND STAKEHOLDERS</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%; border-bottom: solid 2px #000000">
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; margin: 0 auto;width: 100%;; font-family: inherit; font-size: inherit">
<tr>
<td style="width: 100%; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
<div><font>&#xA0;</font></div>
<div>
<div style="text-align: left; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Principles</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XIX.</font> The company must treat all its
Shareholders equally. It must ensure equal access to
non-privileged, relevant information for their decision-making at
the Shareholder&#x2019;s Meetings.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XX.</font> The company must promote active
participation and proper information to all the Shareholders,
especially when deciding upon the Board of Directors.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XXI.</font> The company must have a transparent
Dividends Distribution Policy aligned with the
strategy.</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">XXII.</font> The company must take into
consideration the interest of its stakeholders.</font></div>
&#xA0; <font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
</td>
</tr></table>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 25. The Company&#x2019;s website discloses financial and
non-financial information, providing equal and duly access to all
its Investors. The website has a specialized area for Investors
inquires.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
addition to the duly widespread of the information, whose
publication is required by the regulations in force, the Company
publishes information through its website that complies with high
standards of confidentiality and integrity and it tends to the
conservation and record of information.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
addition, the website has all the relevant information, whose
publication is required by the CNV, the Buenos Aires Stock
Exchange, SEC, and the New York Stock Exchange (&#x201C;<font style="text-decoration: underline">NYSE</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company&#x2019;s website will be in charge of the Head of Investors
Relations of CPSA. It will be updated upon the occurrence of events
which require so, and it shall be the responsibility of each area
to inform said circumstance which must be reported in the website
of the Company.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">This
way, through its website, the Company ensures its shareholders
equal access to non-privileged, relevant information for their
decision-making at the Meetings of the Company. In addition, the
website establishes proper mechanisms for the direct consultation
from the community about any inquiry about the Company. Based on
all the foregoing, each interested shareholder or investor may
communicate the inquiries they deem necessary to the Investors
Relations area via e-mail, telephone or a meeting in person. The
Company has a specialized area to answer all the consultations from
shareholders and other investors.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="ftr">
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">17</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 26. The Board of Directors must ensure there is an
identification and classification procedure of its stakeholders and
a communication channel with them.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">During
the 2020 period, the Board of Directors will prepare an
identification<font style="font-weight: bold">&#xA0;</font>and
classification procedure of its stakeholders and a communication
channel with them.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 27. The Board of Directors provides to the Shareholders, prior
to their Meeting, a &#x201C;provisional information package&#x201D;
which enables Shareholders- through a formal communication channel
&#x2013; to make non-binding comments and to share dissenting
opinions towards the recommendations made by the Board of
Directors. At the moment of providing the definite information
package, the Board of Directors must expressly decide on the
comments received that are deemed necessary.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
Board of Directors guarantees at all times equal treatment among
all shareholders. For that purpose, the Board of Directors
safeguards the respect for the minority shareholders&#x2019; rights
in compliance with the mechanisms set forth in the Argentine
Business Entities Act and the regulations of the CNV, SEC and NYSE,
which promote the attendance and participation of minority
shareholders at the Shareholders&#x2019; Meetings. Therefore, all
CPSA&#x2019;s shareholders: a) have effective mechanisms to be
represented at the Shareholders&#x2019; Meetings; b) have access to
information of the Company, which is publicly available, in a duly
and comprehensive fashion, through the different means established
by the regulation, including its website <font style="text-decoration: underline; color: #000000">www.centralpuerto.com</font><font style="color: #000000">.
This website includes the updated information and the contact
information available. This way, shareholders have sufficient
information to consider, approve or reject the matters which are
put for their consideration at the Shareholders&#x2019;
Meetings.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 28. The Company&#x2019;s Bylaws enable Shareholders to receive
the information packages for the Shareholders&#x2019; Meetings
through virtual means and to participate in the Meetings via
electronic means of communication which enable simultaneous
transmission of sound, images and words, ensuring the principle of
equal treatment of all participants.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">After
the experience acquired through the period ended December 31, 2020,
the Board of Directors will assess the adequation of the Bylaws to
incorporate the possibility of holding meetings through the use of
electronic means of communication which enable simultaneous
transmission of sound, image and words, ensuring the principle of
equal treatment of all participants, pursuant to the guidelines of
the CNV. This way, the Company aims at the modernization of its
meetings in order to ensure their development in the event of any
contingency.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
RP 29. The Dividends Distribution Policy is in line with the
strategy and clearly establishes the criteria, frequency and
conditions under which the dividends distribution will be
performed.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">18</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px">CPSA
has a <font style="text-decoration: underline">dividend
policy</font> which was approved by the Board of Directors on March
10, 2020. Pursuant to such document, the Policy establishes
guidelines in order to maintain proper balance between the Company
results, the amounts to be distributed as dividends, the available
liquidity and the investment plans of the Company, so that a clear,
transparent and consistent practice is established for all
shareholders, potential investors and other stakeholders of the
Company.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px">Once
the guidelines for the dividends distribution established in Items
1 and 2 of the Policy are complied with, the Board of Directors
will prepare a proposal for the dividends distribution for the
consideration of the Shareholders&#x2019; Meetings. As a general
rule, the Board of Directors will favor the efficient use of
capital in its recommendations, so that it is aligned with the
strategy of the Company. For that purpose, the Board of Directors
carries out an assessment of several factors, including:
operational results, the financial situation, the level of capital,
development projects and investment and acquisition
opportunities.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Osvaldo
Arturo Reca</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Chairman</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Central
Puerto S.A.</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">19</font></div>
</div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
